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Uniper SE (UNPRF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Uniper SE $54.37, price $56.90, upside -4.5%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Utilities · US · Home Germany · ISIN DE000UNSE018

US Uniper SE logo Some data Oct 3, 2026

Uniper SE

UNPRF · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $54.37 · Fairly valued (−4.5%)
!Quality 38/100
!Weak Growth (revenue 5y +3.6 %/yr)
!Thin margins · 2.9% net margin (TTM)
!Low debt · negative free cash flow
!1.3% dividend yield · Watch coverage
!Trails peers (4/13)
!Narrow moat 33/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 29 out of 100
!Weak on dividend: 25 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$842.31 $34.48 Fair Value $54.37 Apr 2017 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range $34.48 – $842.31 · fair‑value band $40.78 – $67.96 · the $56.90 price screens above the $54.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

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.

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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.

Stock analysis

Uniper SE (UNPRF) currently trades at $56.90, while our model-based Fair Value estimate is $54.37, so the stock looks roughly fairly valued today (gap 4.7%).

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Valuation

Bull case: the DCF Models group reads highest at a median of $63.79 per share, and 4 of the 13 models we run sit above the $56.90 price.

Bear case: the Asset-Based group reads lowest at $21.52, and 9 of the 13 models stay below the price. Evidence for this calculation is medium.

Scenario range: $40.78 (bear) to $67.96 (bull), the price of $56.90 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 38/100 (below-average quality), in the Utilities sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Uniper SE reported revenue of €60.9B in FY2025 versus €163B in FY2021, a compound −21.8%/yr. Reported net income was €1.4B in FY2025.

Key figures

Market cap $23.7B · P/E ratio 12.6 · P/S ratio 0.29 · EPS (TTM) $4.52 · Dividend yield 1.3% · Net margin 2.3% · Return on equity 14.5% · Return on assets (EBIT) 0.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 65% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −10% fair-value upside, at −4%, UNPRF screens cheaper than that median.

Fair Value models

Bear $40.78 Fair Value $54.37 Bull $67.96
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.87 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings $49.77 $63.79 $89.73 77
Residual Income $29.81 $33.95 $41.61 76
EPV $22.54 $23.95 $25.19 74
All 13 models by family
DCF Models
Owner Earnings $49.77 $63.79 $89.73 77
Earnings-Based
Graham-Dodd $25.67 $31.37 $35.29 67
EPV $22.54 $23.95 $25.19 74
Multiples
P/E Multiple $50.96 $67.94 $84.93 63
P/S Multiple $48.13 $64.17 $80.21 58
P/B Multiple $43.36 $57.81 $72.27 55
EV/EBIT $25.19 $28.88 $32.58 66
EV/EBITDA $32.21 $38.25 $44.29 67
EV/Revenue $23.07 $26.91 $30.76 54
Asset-Based
NCAV (Graham) $16.06 $21.52 $32.12 54
Economic Profit
Residual Income $29.81 $33.95 $41.61 76
ROIC Compounder $22.54 $23.95 $25.19 72
Growth Earnings
Growth-Adj P/E $36.21 $51.73 $67.25 67

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Quality Score breakdown

Overall quality 38/100

Of which business quality 38 · Market factors (momentum, volatility) 31

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 56
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 46
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 32/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−12.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−39.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.6%
Start year 2020 (pandemic). Over 10 years: −4.1% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.6%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
−45.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−46.4%
Dividend (yield on the price)1.3%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.0% → 1%
⚠ Revenue per share shrinking 34.0%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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Earlier news

News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Very negative
Recent news coverage is unusually downbeat.

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Peer Groupⓘ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.Utilities - Regulated Gas · 104 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside −3.0% · Below median
Profitability
Return on equity (TTM) 14.5% · Top 25%
Return on assets 1.2% · Bottom 25%
Net margin (TTM) 2.9% · Bottom 25%
Operating margin (TTM) 2.4% · Bottom 25%
Growth and dividend
Revenue growth −18.4% · Bottom 25%
Dividend yield (TTM) 1.3% · Bottom 25%
Balance sheet
Debt / equity 0.03× · Lowest 25%

Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper

P/E (TTM) 12.6× · Cheaper than median
P/B 1.77× · Pricier than median
P/S (TTM) 0.37× · Cheapest 25%
EV/EBITDA 14.1× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)29 · sector 38
FUTURE (revenue growth)0 · sector 13
PAST (return on equity)58 · sector 34
HEALTH (low debt)99 · sector 83
DIVIDEND (yield)25 · sector 73

Context: sector, industry, market

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

Similar stocks

10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €29.10 €32.79 +13%
Atmos Energy Corporation ATO $156.38 $77.00 −51%
NiSource Inc NI $39.50 $19.90 −50%
The Hong Kong and China Gas Company 0003 HK$7.08 HK$4.79 −32%
GAIL (India) Limited GAIL ₹172.70 ₹132.97 −23%
Italgas S.p.A IG €8.35 €9.19 +10%
ENN Natural Gas Co 600803 ¥18.54 ¥36.99 +100%
UGI Corporation UGI $36.24 $32.74 −10%
ENN Energy Holdings 2688 HK$48.76 HK$107.85 +121%
Southwest Gas Holdings SWX $81.87 $57.47 −30%

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Uniper SE · Fair Value
$54.37 −4%Fair Value
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Cite: Fair Value Calculator (2026). "Uniper SE Fair Value". https://www.fairvalue-calculator.com/stock/UNPRF

Frequently asked questions

Is Uniper SE (UNPRF) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $54.37 versus the last price from Sep 25, 2026 of $56.90, about −4% upside (fairly valued).
What is the fair value of UNPRF?
Our model-based fair value for Uniper SE is $54.37 (as of Oct 3, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $56.90.
What is the quality score of UNPRF?
Uniper SE has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Uniper SE (UNPRF)?
Our model-based price target is the fair value of $54.37 (as of Oct 3, 2026) from 13 valuation models. Cautious scenario $40.78, optimistic scenario $67.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Uniper SE stock forecast for 2026?
Our models put fair value at $54.37, about −4% upside versus the last price from Sep 25, 2026 of $56.90 (fairly valued). Cautious scenario $40.78, optimistic scenario $67.96. The calculation is refreshed regularly with new filings.
What is the revenue of Uniper SE (UNPRF)?
Uniper SE reported trailing-twelve-month revenue of about €57.2B (latest available figure, as of Oct 3, 2026).
Does Uniper SE pay a dividend?
Uniper SE currently shows a dividend yield of about 1.27% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Uniper SE (UNPRF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Uniper SE it is $54.37 per share (as of Oct 3, 2026), against a price of $56.90. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Uniper SE stock overvalued or undervalued in 2026?
As of Oct 3, 2026, UNPRF trades above its calculated fair value: price $56.90, fair value $54.37, a gap of about −4% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of UNPRF?
No. The price is what the market pays today ($56.90); the fair value is what the company's own numbers justify ($54.37). For Uniper SE the two are $2.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is Uniper SE worth?
The market values Uniper SE at about $23.7B (market capitalisation, as of Oct 3, 2026). Per share that is $56.90; our models calculate a fair value of $54.37 per share.
What do the bullish and bearish scenarios say about UNPRF?
Our models span a range for Uniper SE: cautious scenario $40.78, base $54.37, optimistic $67.96 per share (as of Oct 3, 2026, price $56.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of UNPRF?
Uniper SE trades at a price-to-earnings ratio of 12.6 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $54.37 is built from several models across several years. Other multiples: P/B 1.8, P/S 0.4, EV/EBITDA 14.1.
How solid is the balance sheet of Uniper SE (UNPRF)?
Balance-sheet figures for Uniper SE (as of Oct 3, 2026): return on equity 14.5%, debt of 0.03 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is UNPRF from its 52-week high?
Uniper SE trades at $56.90, at its 52-week high of $56.90 and 65% above the low of $34.48 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $54.37 is for.
Which stocks are comparable to Uniper SE?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, NiSource Inc, The Hong Kong and China Gas Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Uniper SE stock attractive at the current price?
The data as of Oct 3, 2026: price $56.90, calculated fair value $54.37 (−4%), Quality Score 38/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of UNPRF calculated?
We run Uniper SE through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $54.37, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Uniper SE itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Uniper SE (UNPRF)?
The latest price we hold is from Sep 25, 2026 and stands at $56.90. Our model-based fair value is $54.37, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Uniper SE right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Uniper SE

How large is the market capitalisation of Uniper SE (UNPRF)?
The market capitalisation of Uniper SE is $23.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Uniper SE (UNPRF)?
The price-to-sales ratio of Uniper SE is 0.29 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Uniper SE (UNPRF)?
Earnings per share at Uniper SE are $4.52 (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Uniper SE (UNPRF)?
The dividend yield of Uniper SE is 1.3% (payout 15.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Uniper SE (UNPRF)?
The net margin of Uniper SE is 2.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Uniper SE (UNPRF)?
The return on equity (ROE) of Uniper SE is 14.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Uniper SE (UNPRF)?
On an EBIT basis the return on assets of Uniper SE is 0.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Uniper SE (UNPRF)?
The operating margin of Uniper SE is 2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Uniper SE (UNPRF)?
Revenue at Uniper SE is growing −18.4% versus a year earlier (3y avg −39.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Uniper SE (UNPRF)?
Earnings per share at Uniper SE are growing +300% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Uniper SE (UNPRF) generate?
The free cash flow of Uniper SE is −€1.6B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Uniper SE (UNPRF) hold?
Uniper SE holds more cash than debt, €3.9B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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