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Jumbo S.A (BELA) Fair Value & Analysis

Consumer Cyclical · GR · Market cap €3.1B

JS Jumbo S.A BELA · AT
Price€26.56
Fair Value€36.88
Upside+38.9%
Quality83/100
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Healthy Growth
Highly profitable · 26.0% net margin
Low debt · generates free cash flow
3.04% dividend yield
Ranks above peers (11/15)
Wide moat 86/100
Evidence: High Range €25.01 – €50.98 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Fair value updated Aug 13, 2026, revised from €41.25 to €36.88 (−10.6%) since Jul 14, 2026. Share price +19.1% over the past month.

A strong business, screening 39% undervalued on our models.

What matters now

  • The rarer combination: high quality (83/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (€25.01 to €50.98) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€31.77 €8.73 Fair Value €36.88 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €8.73 – €31.77 · fair‑value band €25.01 – €50.98 · the €26.56 price screens below the €36.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Jumbo S.A (BELA) currently trades at €26.56, while our model-based Fair Value estimate is €36.88, implying the stock looks roughly 38.9% undervalued today. The Quality Score stands at 83/100 (high quality), in the Consumer Cyclical 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, Jumbo S.A generated revenue of €1.2B at a net margin of 26.0%. Revenue grew 6.7% year over year. It earns a return on equity of 21.5%. The balance sheet holds a net cash position of €313M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €25.01 (bear case) to €50.98 (bull case); at €26.56, 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 17% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -20% fair-value upside, at 39%, BELA 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 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
Highest evidence
Growth DCF €25.35 €35.56 €49.78 80
Residual Income €14.96 €19.81 €74.30 76
Rev-Margin DCF €16.29 €21.75 €28.24 74
All 24 models by family
DCF Models
FCF DCF €25.13 €36.88 €54.42 38
Owner Earnings €30.57 €45.35 €67.41 31
5Y Revenue Exit €16.29 €21.50 €27.90 39
5Y EBITDA Exit €28.29 €44.26 €63.05 41
5Y P/E Exit €34.10 €55.29 €77.86 38
10Y Revenue Exit €19.14 €24.68 €31.76 36
10Y EBITDA Exit €26.89 €40.24 €58.32 37
10Y P/E Exit €30.54 €47.78 €69.51 35
Earnings-Based
Graham-Dodd €16.21 €53.94 €72.20 54
Lynch FV €12.21 €17.45 €22.68 50
PEG = 1.0 €12.21 €17.45 €22.68 46
EPV €27.00 €30.63 €33.77 59
Multiples
P/E Multiple €39.33 €52.45 €65.56 63
P/S Multiple €8.26 €11.01 €13.76 58
P/B Multiple €30.39 €40.53 €50.66 55
EV/EBIT €43.43 €56.58 €69.72 53
EV/EBITDA €33.18 €42.91 €52.64 54
EV/Revenue €11.70 €15.00 €18.31 43
Asset-Based
NCAV (Graham) €5.87 €7.86 €11.73 50
Growth DCF
Growth DCF €25.35 €35.56 €49.78 80
Rev-Margin DCF €16.29 €21.75 €28.24 74
Economic Profit
Residual Income €14.96 €19.81 €74.30 76
ROIC Compounder €28.55 €34.37 €40.76 72
Growth Earnings
Growth-Adj P/E €33.12 €47.32 €61.52 68

Widest divergence: Growth Earnings (€47.32) versus Asset-Based (€7.86). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €1.2B
Revenue growth (YoY) +6.7%
Net margin 26.0%
Return on equity 21.5%
Free cash flow €259M FY2025
P/E ratio 11.2
More key figures
Operating margin 35.4%
EPS (TTM) €2.38
Dividend yield 3.0%
EPS growth (YoY) +3.6%
Net cash €313M FY2022

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 83/100

Of which business quality 79 · Market factors (momentum, volatility) 54

Profitability 76
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 90
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

Jumbo S.A. engages in the retail sale of toys, baby products, gift articles, household products, stationery, seasonal and decoration items, books, and related products in Greece, Cyprus, Bulgaria, and Romania. The company operates e-jumbo, an online store. It is involved in the wholesale of toys and related products to third parties. Jumbo S.A.

Full company description

Jumbo S.A. engages in the retail sale of toys, baby products, gift articles, household products, stationery, seasonal and decoration items, books, and related products in Greece, Cyprus, Bulgaria, and Romania. The company operates e-jumbo, an online store. It is involved in the wholesale of toys and related products to third parties. Jumbo S.A. was incorporated in 1986 and is headquartered in Athens, Greece.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jumbo S.A reported revenue of €1.2B in FY2025 versus €832M in FY2021, a compound +10.3%/yr. Reported net income was €320M in FY2025, compounding +10.3%/yr from FY2021.

Growth Quality 96/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€1.2B
Latest YoY
+7.2%
Avg. growth/yr (3Y) 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.
+9.1%
Avg. growth/yr (5Y) 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.
+12.2%
Avg. growth/yr (21Y) 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.
+8.3%
Revenue +10.3%/yr
FY21 €832M
FY22 €949M
FY23 €1.1B
FY24 €1.1B
FY25 €1.2B
Net income +10.3%/yr
FY21 €217M
FY22 €249M
FY23 €303M
FY24 €320M
FY25 €320M
Character of growth · EPS growth decomposed (2011-2022) +9.2 % p.a.
Revenue per share +5.4 pp

of which total revenue +5.4 pp · buybacks/dilution +0.0 pp

EBIT margin +3.2 pp
Tax rate +0.5 pp
Residual (interest, one-offs) +0.1 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).

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Cite: Fair Value Calculator (2026). "Jumbo S.A Fair Value". https://www.fairvalue-calculator.com/stock/BELA

Peer Group

Specialty Retail · 223 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 83 · Top 25%
Fair Value upside +39% · Above median
Return on equity (TTM) 21% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 26% · Top 25%
Operating margin (TTM) 35% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 3.0% · Above median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 11.2× · Cheaper than median
P/B 2.25× · Pricier than median
P/S (TTM) 2.88× · Pricier than 75% of peers
P/FCF 13.7× · Pricier than 75% of peers
EV/EBITDA 7.1× · Cheaper than median
PEG 10.83× · 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 85 · sector 31
FUTURE 34 · sector 23
PAST 86 · sector 27
HEALTH 100 · sector 94
DIVIDEND 61 · sector 51

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 Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Alimentation Couche-Tard Inc ATD C$93.19 C$75.00 -20%
Casey's General Stores, Inc CASY $839.03 $398.90 -52%
Williams-Sonoma, Inc WSM $245.15 $162.63 -34%
Ulta Beauty, Inc ULTA $531.89 $475.40 -11%
DICK'S Sporting Goods, Inc DKS $202.66 $181.10 -11%
Best Buy Co BBY $83.00 $108.04 +30%
China Tourism Group 601888 ¥54.97 ¥40.40 -27%
Tractor Supply Company TSCO $36.43 $35.52 -2%
Murphy USA Inc MUSA $544.22 $423.35 -22%
Taiwan Mobile Co 3045 109.50 TWD 80.98 TWD -26%

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Frequently asked questions

Is Jumbo S.A (BELA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €36.88 versus a price of €26.56, about +39% (undervalued).
What is the fair value of BELA?
Our model-based fair value for Jumbo S.A is €36.88 (as of Aug 13, 2026), built from audited fundamentals. The current price is €26.56.
What is the quality score of BELA?
Jumbo S.A has a Quality Score of 83/100. 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 revenue of Jumbo S.A (BELA)?
Jumbo S.A reported trailing-twelve-month revenue of about €1.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BELA?
The net profit margin of Jumbo S.A is about 26.0%, meaning it keeps roughly 26.0% of revenue as net income. Based on the latest reported figures.
Does Jumbo S.A pay a dividend?
Jumbo S.A currently shows a dividend yield of about 3.04% relative to its recent price (as of Aug 13, 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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