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Uniper SE (UN0) Fair Value & Analysis

Utilities · DE · Market cap €17.8B

US Uniper SE UN0 · XETRA
Price€43.50
Fair Value€49.13
Upside+12.9%
Quality45/100
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Expensive Growth
Thin margins · 2.9% net margin
Low debt · negative free cash flow
1.68% dividend yield
Trails peers (5/13)
Narrow moat 36/100
Evidence: High Range €36.09 – €64.22 Share as image

Fair value as of: Jul 19, 2026

From 15 valuation models · updated 19 days ago

Fair value updated Jul 19, 2026, revised from €49.99 to €49.13 (−1.7%) since Jun 24, 2026. Share price −0.5% over the past month.

Below-average quality, screening 13% undervalued on our models.

What matters now

  • Our model range runs from €36.09 (bear) to €64.22 (bull), base €49.13. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 45/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€828.36 €27.57 Fair Value €49.13 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €27.57 – €828.36 · fair‑value band €36.09 – €64.22 · the €43.50 price screens below the €49.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Uniper SE (UN0) currently trades at €43.50, while our model-based Fair Value estimate is €49.13, implying the stock looks roughly 12.9% undervalued today. We read business quality at 45/100 (below-average quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Uniper SE generated revenue of €57.2B at a net margin of 2.9%. Revenue declined 18.4% year over year. It earns a return on equity of 14.5%. The balance sheet holds a net cash position of €3.9B. Fundamentals as of Jul 19, 2026

Our scenario range runs from €36.09 (bear case) to €64.22 (bull case); at €43.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 23% below its 52-week high and 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -23% fair-value upside, at 13%, UN0 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income €26.17 €31.25 €71.38 76
ROIC Compounder €14.61 €15.87 €16.96 72
Gordon GGM €0.0200 €0.0200 €0.0300 70
All 15 models by family
DCF Models
Owner Earnings €33.98 €44.54 €64.08 31
Earnings-Based
Graham-Dodd €22.81 €27.88 €31.36 54
EPV €14.61 €15.87 €16.96 59
Dividend Discount
Gordon GGM €0.0200 €0.0200 €0.0300 70
DDM Multi-Stage €0.0200 €0.0300 €0.0400 61
Multiples
P/E Multiple €50.32 €67.09 €83.86 63
P/S Multiple €42.77 €57.02 €71.28 58
P/B Multiple €42.77 €57.02 €71.28 55
EV/EBIT €18.93 €22.88 €26.82 53
EV/EBITDA €28.03 €35.01 €41.98 54
EV/Revenue €15.08 €18.50 €21.91 43
Asset-Based
NCAV (Graham) €14.27 €19.12 €28.54 50
Economic Profit
Residual Income €26.17 €31.25 €71.38 76
ROIC Compounder €14.61 €15.87 €16.96 72
Growth Earnings
Growth-Adj P/E €35.60 €50.85 €66.11 68

Widest divergence: Growth Earnings (€50.85) versus Dividend Discount (€0.0200). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) €57.2B
Revenue growth (YoY) -18.4%
Net margin 2.9%
Return on equity 14.5%
Free cash flow −€1.6B FY2025
P/E ratio 12.4
More key figures
Operating margin 2.4%
EPS (TTM) €3.95
Dividend yield 1.6%
EPS growth (YoY) +300%
Net cash €3.9B FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 38 · Market factors (momentum, volatility) 61

Profitability 42
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 46
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Uniper SE operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally. It operates through Green Generation, Flexible Generation, and Greener Commodities segments.

Full company description

Uniper SE operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally. It operates through Green Generation, Flexible Generation, and Greener Commodities segments. The Green Generation segment operates renewable and low carbon power generation facilities, including hydroelectric, nuclear, wind, and solar power plants. The Flexible Generation segment operates gas-fired power plants, such as combined-cycle gas turbine power plants, coal, and oiled-fired power plants; as well as the provision of energy services. The Greener Commodities segment optimizes and sells natural gas to distributors, large industrial customers, power plant operators, and international energy markets. This segment also engages in gas storage operations; infrastructure investments; import, trade, and process or store renewable and low carbon fuels comprising hydrogen, biomethane, and ammonia; procurement of fuels; trading emission allowances; marketing and optimizing electricity generated; and trading green certificates for the supply of green energy. The company was founded in 1894 and is headquartered in Düsseldorf, Germany. Uniper SE is a subsidiary of UBG Uniper Beteiligungsholding GmbH.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Uniper SE reported revenue of €61.0B in FY2025 versus €163B in FY2021, a compound −21.8%/yr. Reported net income was €1.4B in FY2025.

Growth Quality 32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€61.0B
Latest YoY
−12.5%
Avg. growth/yr (3Y)
−39.4%
Avg. growth/yr (5Y)
+3.6%
Avg. growth/yr (12Y)
−3.6%
Revenue −21.8%/yr
FY21 €163B
FY22 €274B
FY23 €108B
FY24 €69.6B
FY25 €61.0B
Net income
FY21 −€4.2B
FY22 −€19.0B
FY23 €6.3B
FY24 €297M
FY25 €1.4B

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Cite: Fair Value Calculator (2026). "Uniper SE Fair Value". https://www.fairvalue-calculator.com/stock/UN0

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Utilities - Regulated Gas · 103 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 45 · Below median
Fair Value upside +13% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 3% · Bottom 25%
Operating margin (TTM) 2% · Bottom 25%
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 1.7% · Bottom 25%
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper

P/E (TTM) 10.8× · Cheaper than 75% of peers
P/B 1.73× · Pricier than median
P/S (TTM) 0.36× · Cheaper than 75% of peers
EV/EBITDA 15.7× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 51 · sector 24
FUTURE 0 · sector 0
PAST 58 · sector 34
HEALTH 89 · sector 84
DIVIDEND 34 · sector 68

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €28.84 €35.80 +24%
Atmos Energy Corporation ATO $177.68 $85.67 -52%
NiSource Inc NI $47.07 $28.59 -39%
The Hong Kong and China Gas Company 0003 HK$7.03 HK$5.08 -28%
Italgas S.p.A IG €9.98 €8.11 -19%
GAIL (India) Limited GAIL ₹171.71 ₹147.74 -14%
ENN Natural Gas Co 600803 ¥16.69 ¥25.71 +54%
Adani Total Gas Limited ATGL ₹723.90 ₹101.36 -86%
UGI Corporation UGI $35.84 $27.13 -24%
Southwest Gas Holdings SWX $92.06 $70.67 -23%

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Frequently asked questions

Is Uniper SE (UN0) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €49.13 versus a price of €43.50, about +13% (undervalued).
What is the fair value of UN0?
Our model-based fair value for Uniper SE is €49.13 (as of Jul 19, 2026), built from audited fundamentals. The current price is €43.50.
What is the quality score of UN0?
Uniper SE has a Quality Score of 45/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Uniper SE (UN0)?
Uniper SE reported trailing-twelve-month revenue of about €57.2B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of UN0?
The net profit margin of Uniper SE is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.
Does Uniper SE pay a dividend?
Uniper SE currently shows a dividend yield of about 1.55% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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