Alpha Services and Holdings S.A. (ALPHA) Fair Value & Analysis
Financial Services · GR · Market cap €8.9B · ISIN GRS830003000
What is Alpha Services and Holdings S.A. really worth?
Below-average quality, and trading another 89% above our fair value of €2.48.
Strengths
Risks
For context
Fair value as of: May 31, 2026
From 3 valuation models · updated 96 days ago
Share price +4.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€3.10). The favourable scenario is already priced in.
- Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of May 31, 2026.
How to read this chart
60‑month range €0.6795 – €4.75 · fair‑value band €1.86 – €3.10 · the €4.69 price screens above the €2.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of May 31, 2026.
Analysis
Alpha Services and Holdings S.A. (ALPHA) currently trades at €4.69, while our model-based Fair Value estimate is €2.48, implying the stock looks roughly 89.2% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector. How firm this estimate is: it rests on 13 models at a data quality of 0/100, which puts the evidence level at medium.
Over the trailing twelve months, Alpha Services and Holdings S.A. generated revenue of €1.8B at a net margin of 49.1%. Revenue grew 11.6% year over year. It earns a return on equity of 10.3%. Net debt stands at €329M. Fundamentals as of May 31, 2026
Our scenario range runs from €1.86 (bear case) to €3.10 (bull case); at €4.69, the current price sits above 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 80% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −47%, ALPHA screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2024 figures, and about 12 months have passed since. In that time the company retained roughly €0.2570 per share, which is 10.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 3 models by family
Widest divergence: Dividend Discount (€99.20) versus Multiples (€2.48). Highest evidence: DDM Multi-Stage (65).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of May 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · 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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Alpha Services and Holdings S.A., together with its subsidiaries, provides various banking and financial products and services to individuals, professionals, and companies in Greece and internationally.
Full company description
Alpha Services and Holdings S.A., together with its subsidiaries, provides various banking and financial products and services to individuals, professionals, and companies in Greece and internationally. It operates through Retail Banking, Corporate Banking, Asset Management and Insurance, Investment Banking and Treasury, South Eastern Europe, and Other segments. The company offers various deposit products, including deposits/savings accounts, working capital/current accounts, checking accounts, investment facilities/term deposits, repos, and swaps; loans comprising mortgage loans, consumer loans, working capital facilities, corporate loans, and letters of guarantee; and debit and credit cards. It also provides leasing and factoring services; asset management services; insurance products; stock exchange, advisory, and brokerage services relating to capital markets; investment banking facilities, as well as deals in interbank market activities and securitization transactions; and mobile and Web banking services. Further, the company provides in the real estate management and hotel services. The company was founded in 1879 and is based in Athens, Greece.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2020 – FY2025 · reported fiscal years
Alpha Services and Holdings S.A. reported revenue of €2.3B in FY2024 versus €2.6B in FY2020, a compound −2.9%/yr. Reported net income was €4.3M in FY2025.
ALPHA screens 89% overvalued. Compare with DBS Group →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Alpha Services and Holdings SA (ALBKY) (Q2 2026) Earnings Call Highlights: Strong Profit Growth ...
- Alpha Services and Holdings SA (ALBKY) Q1 2026 Earnings Call Highlights: Navigating Growth Amid ...
- Alpha Services and Holdings SA (ALBKY) Q4 2025 Earnings Call Highlights: Strong Profit Growth ...
- Alpha Services and Holdings SA (ALBKY) Q3 2025 Earnings Call Highlights: Strong Profits and ...
Peer Group
Banks - Regional · 1071 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 Banks - Regional median · lower = cheaper
Strength profile in five axes (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.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of May 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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