What's Cooking Group (WHATS) Fair Value & Analysis
Consumer Defensive · BE · Market cap €271M
Fair value as of: Aug 6, 2026
From 16 valuation models · updated 4 days ago
Fair value updated Aug 6, 2026, revised from €109.94 to €101.50 (−7.7%) since Jul 21, 2026. Share price +3.3% over the past month.
A solid business, but screening 30% overvalued on our models.
What matters now
- Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€77.10 to €163.45) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.
How to read this chart
60‑month range €51.38 – €146.00 · fair‑value band €77.10 – €163.45 · the €146.00 price screens above the €101.50 fair value. Dashed = 300-day average. As of Aug 6, 2026.
Analysis
What's Cooking Group (WHATS) currently trades at €146.00, while our model-based Fair Value estimate is €101.50, implying the stock looks roughly 30.5% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, What's Cooking Group generated revenue of €469M at a net margin of 5.4%. Revenue grew 18.8% year over year. It earns a return on equity of 9.4%. The balance sheet holds a net cash position of €2.6M. Fundamentals as of Aug 6, 2026
Our scenario range runs from €77.10 (bear case) to €163.45 (bull case); at €146.00, 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 near its 52-week high and 42% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -30%, WHATS screens richer 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.
All 16 models by family
Widest divergence: Multiples (€233.47) versus Asset-Based (€52.93). Highest evidence: Residual Income (76).
Notify me when WHATS reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 77
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
What's Cooking Group NV, together with its subsidiaries, produces and sells ready meals in Belgium, the United Kingdom, France, Germany, Portugal, Poland, Netherlands, the Rest of Europe, and internationally. The company develops, produces, and sells ready meals, including lasagna, pizza, pasta dishes, meal components, and sauces.
Full company description
What's Cooking Group NV, together with its subsidiaries, produces and sells ready meals in Belgium, the United Kingdom, France, Germany, Portugal, Poland, Netherlands, the Rest of Europe, and internationally. The company develops, produces, and sells ready meals, including lasagna, pizza, pasta dishes, meal components, and sauces. It sells its products under its own brands and private label. The company was formerly known as Ter Beke NV and changed its name to What's Cooking Group NV in April 2023. What's Cooking Group NV was founded in 1948 and is based in Ghent, Belgium. What's Cooking Group NV operates as a subsidiary of STAK Coovan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
What's Cooking Group reported revenue of €469M in FY2025 versus €697M in FY2021, a compound −9.4%/yr. Reported net income was €25.5M in FY2025, compounding +36.5%/yr from FY2021.
of which total revenue +3.8 pp · buybacks/dilution −0.3 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
WHATS screens 30% overvalued. Compare with Nestlé India Limited →
Peer Group
Packaged Foods · 649 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.
Valuation Multiples vs Packaged Foods median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nestlé India Limited NESTLEIND | ₹1,427 | ₹362.37 | -75% |
| Britannia Industries Limited BRITANNIA | ₹5,413 | ₹1,870 | -65% |
| Tata Consumer Products Limited TATACONSUM | ₹1,089 | ₹327.27 | -70% |
| PT Indofood CBP Sukses Makmur Tbk ICBP | 6,650 IDR | 15,757 IDR | +137% |
| Samyang Foods Co 003230 | 1,139,000 KRW | 1,010,543 KRW | -11% |
| Patanjali Foods Limited PATANJALI | ₹413.80 | ₹157.04 | -62% |
| Vietnam Dairy Products Joint Stock Company VNM | 58,500 VND | 68,259 VND | +17% |
| PT Mayora Indah Tbk, MYOR | 1,750 IDR | 2,699 IDR | +54% |
| PT Cisarua Mountain Dairy Tbk CMRY | 4,490 IDR | 4,355 IDR | -3% |
| Nongshim Co 004370 | 348,500 KRW | 530,619 KRW | +52% |
Compare What's Cooking Group with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Consumer Defensive stocks →
Frequently asked questions
Is What's Cooking Group (WHATS) overvalued or undervalued?
What is the fair value of WHATS?
What is the quality score of WHATS?
What is the revenue of What's Cooking Group (WHATS)?
What is the net profit margin of WHATS?
Does What's Cooking Group pay a dividend?
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.
Track What's Cooking Group and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.