Zegona Communications Plc (ZEG) fair value: what the stock is really worth
We calculate from audited financials what Zegona Communications Plc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range £0.2757 – £18.68 · fair‑value band £5.93 – £19.65 · the £16.96 price screens above the £10.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Zegona Communications plc provides integrated telecommunications services in Spain. The company offers broadband, mobile, TV, voice, data, and other value-added products and services. It serves business-to-consumer and business-to-business markets. The company was incorporated in 2015 and is based in London, the United Kingdom.
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Zegona Communications plc provides integrated telecommunications services in Spain. The company offers broadband, mobile, TV, voice, data, and other value-added products and services. It serves business-to-consumer and business-to-business markets. The company was incorporated in 2015 and is based in London, the United Kingdom. Zegona Communications plc is a subsidiary of Ejlshm Funding Limited.
Stock analysis
Zegona Communications Plc (ZEG) currently trades at £16.96, while our model-based Fair Value estimate is £10.58, implying the stock looks roughly 60.3% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of £96.83 per share, and 11 of the 13 models we run sit above the £16.96 price.
Bear case: the Asset-Based group reads lowest at £2.37, and 2 of the 13 models stay below the price. Evidence for this calculation is medium.
Scenario range: £5.93 (bear) to £19.65 (bull), the price of £16.96 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 Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zegona Communications Plc reported revenue of €3.6B in FY2026 versus €0 in FY2021. Reported net income was −€189M in FY2026.
Key figures
Market cap 3.4B GBX · P/E ratio 169.6 · P/S ratio 1.35 · EPS (TTM) £0.1000 · Net margin −5.2% · Return on equity −10.3% · Return on assets (EBIT) −48.4% · Operating margin 10.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
For context, the median of 10 Communication Services peers we cover trades at 27% fair-value upside, at −38%, ZEG screens richer than that median.
Fair Value models
Bear £5.93Fair Value £10.58Bull £19.65
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.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.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.
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.52/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+50.4%
Revenue growth 11 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.
+45.7%
’15
’16
’25
’26
Profit margin (trend) ⓘ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.
−11.2% (2015) → 5.6% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.2%
Yearly sales growth analysts expect, extended to five years.
Compare Zegona Communications Plc with another stock
Price, fair value, quality and upside side by side.
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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.Telecom Services · 255 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score38 · Bottom 25%
Profitability
Return on assets3% · Below median
Net margin (TTM)−5% · Bottom 25%
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth49% · Top 25%
Balance sheet
Debt / equity4.63× · Highest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (TTM)169.6× · Priciest 25%
P/B5.80× · Priciest 25%
P/S (TTM)1.27× · Pricier than median
P/FCF2.5× · Cheaper than median
EV/EBITDA6.2× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 36
FUTURE (revenue growth)100· sector 15
PAST (return on equity)0· sector 27
HEALTH (low debt)0· sector 88
DIVIDEND (yield)0· sector 79
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Zegona Communications Plc (ZEG) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of £10.58 versus a price of £16.96, about −38% upside (overvalued).
What is the fair value of ZEG?
Our model-based fair value for Zegona Communications Plc is £10.58 (as of Sep 13, 2026), built from audited fundamentals. The current price: £16.96.
What is the quality score of ZEG?
Zegona Communications Plc 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 Zegona Communications Plc (ZEG)?
Our model-based price target is the fair value of £10.58 (as of Sep 13, 2026) from 14 valuation models. Cautious scenario £5.93, optimistic scenario £19.65. It is a calculation from audited fundamentals, not an analyst target.
What is the Zegona Communications Plc stock forecast for 2026?
Our models put fair value at £10.58, about −38% upside versus a price of £16.96 (overvalued). Cautious scenario £5.93, optimistic scenario £19.65. The calculation is refreshed regularly with new filings.
What is the revenue of Zegona Communications Plc (ZEG)?
Zegona Communications Plc reported trailing-twelve-month revenue of about £3.0B (latest available figure, as of Sep 13, 2026).
What growth is priced into Zegona Communications Plc (ZEG)?
For today's price to be fair in a discounted-cash-flow model, Zegona Communications Plc would have to grow free cash flow by -2.3 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 10 years revenue grew +38.4 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of ZEG use?
Our models discount Zegona Communications Plc at 12.8 %: a base by market capitalisation (mid), damped by beta 3.42, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Zegona Communications Plc that is -2.3 % per year a year over ten years, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Zegona Communications Plc (ZEG) delivered so far?
Over the past 10 years revenue at Zegona Communications Plc grew +38.4 % a year. The price currently implies -2.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Zegona Communications Plc (ZEG) growing?
The median revenue growth in the sector is +1.9 % a year. That is the yardstick for the growth priced into Zegona Communications Plc (-2.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zegona Communications Plc (ZEG)?
The free-cash-flow yield on the price is 17.07 %: that much free cash flow Zegona Communications Plc produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zegona Communications Plc (ZEG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zegona Communications Plc it is £10.58 per share (as of Sep 13, 2026), against a price of £16.96. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Zegona Communications Plc stock overvalued or undervalued in 2026?
As of Sep 13, 2026, ZEG trades above its calculated fair value: price £16.96, fair value £10.58, a gap of about −38% (overvalued). 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 ZEG?
No. The price is what the market pays today (£16.96); the fair value is what the company's own numbers justify (£10.58). For Zegona Communications Plc the two are £6.38 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zegona Communications Plc worth?
The market values Zegona Communications Plc at about 3.4B GBX (market capitalisation, as of Sep 13, 2026). Per share that is £16.96; our models calculate a fair value of £10.58 per share.
What do the bullish and bearish scenarios say about ZEG?
Our models span a range for Zegona Communications Plc: cautious scenario £5.93, base £10.58, optimistic £19.65 per share (as of Sep 13, 2026, price £16.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZEG?
Zegona Communications Plc trades at a price-to-earnings ratio of 169.6 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £10.58 is built from several models across several years. Other multiples: P/B 5.8, P/S 1.3, EV/EBITDA 6.2.
How solid is the balance sheet of Zegona Communications Plc (ZEG)?
Balance-sheet figures for Zegona Communications Plc (as of Sep 13, 2026): return on equity −10.3%, debt of 4.63 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
Which stocks are comparable to Zegona Communications Plc?
From the same area (Communication Services) we also value China Mobile Limited, T-Mobile US, Inc, Verizon Communications Inc, AT&T Inc, 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 Zegona Communications Plc stock attractive at the current price?
The data as of Sep 13, 2026: price £16.96, calculated fair value £10.58 (−38%), Quality Score 38/100, from 14 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 ZEG calculated?
We run Zegona Communications Plc through 14 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 £10.58, 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 15.8 % above its aggregate fair value. Zegona Communications Plc 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 should I pay attention to with Zegona Communications Plc right now?
Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (£5.93 to £19.65). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of Zegona Communications Plc
How large is the market capitalisation of Zegona Communications Plc (ZEG)?
The market capitalisation of Zegona Communications Plc is 3.4B GBX. 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 Zegona Communications Plc (ZEG)?
The price-to-sales ratio of Zegona Communications Plc is 1.35 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zegona Communications Plc (ZEG)?
Earnings per share at Zegona Communications Plc are £0.1000 (price ÷ EPS = P/E 169.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zegona Communications Plc (ZEG)?
The net margin of Zegona Communications Plc is −5.2% (fiscal year 2026). 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 Zegona Communications Plc (ZEG)?
The return on equity (ROE) of Zegona Communications Plc is −10.3% (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 Zegona Communications Plc (ZEG)?
On an EBIT basis the return on assets of Zegona Communications Plc is −48.4% (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 Zegona Communications Plc (ZEG)?
The operating margin of Zegona Communications Plc is 10.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zegona Communications Plc (ZEG)?
Revenue at Zegona Communications Plc is growing +48.6% versus a year earlier. 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 Zegona Communications Plc (ZEG)?
Earnings per share at Zegona Communications Plc are growing +25.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Zegona Communications Plc (ZEG) carry?
The net debt of Zegona Communications Plc is 4.2B GBX (fiscal year 2026, ≈ 2.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Sep 13, 2026