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Solvay SA (SOLB) Fair Value & Analysis

Basic Materials · BE · Market cap €2.8B

SS Solvay SA SOLB · BR
Price€26.34
Fair Value€14.02
Upside-46.8%
Quality52/100
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Weak Growth
Loss-making · -0.6% net margin
High debt · generates free cash flow
5.49% dividend yield
Mixed vs. peers (7/15)
Narrow moat 24/100
Evidence: High Range €14.02 – €14.02 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Fair value updated Aug 13, 2026, revised from €7.01 to €14.02 (+100.0%) since Aug 6, 2026. Share price −0.6% over the past month.

A solid business, but screening 47% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€14.02). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€33.03 €8.97 Fair Value €14.02 Jun 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 €8.97 – €33.03 · the €26.34 price screens above the €14.02 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Solvay SA (SOLB) currently trades at €26.34, while our model-based Fair Value estimate is €14.02, implying the stock looks roughly 46.8% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Basic Materials 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, Solvay SA generated revenue of €4.6B at a net margin of -0.5%. Revenue declined 8.1% year over year. It earns a return on equity of -1.5%. Net debt stands at €1.6B. Fundamentals as of Aug 13, 2026

The share trades about 5% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -53% fair-value upside, at -47%, SOLB 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 €24.86 €37.48 €58.39 80
Residual Income €7.02 €6.88 €5.78 76
Rev-Margin DCF €25.40 €44.46 €67.76 74
All 24 models by family
DCF Models
FCF DCF €23.35 €36.45 €59.95 38
Owner Earnings €9.08 €16.96 €31.09 31
5Y Revenue Exit €25.40 €43.60 €70.07 39
5Y EBITDA Exit €34.87 €60.00 €93.28 41
5Y P/E Exit €3.71 €6.07 €9.02 38
10Y Revenue Exit €23.22 €36.47 €50.74 36
10Y EBITDA Exit €29.92 €46.38 €64.06 37
10Y P/E Exit €11.43 €13.79 €15.72 35
Earnings-Based
Graham-Dodd €1.95 €2.39 €2.68 54
EPV €19.82 €24.92 €29.31 59
Dividend Discount
Gordon GGM €21.35 €23.27 €26.17 70
DDM Multi-Stage €21.35 €26.38 €33.25 61
Multiples
P/E Multiple €3.66 €4.88 €6.10 63
P/S Multiple €3.66 €4.88 €6.10 58
P/B Multiple €3.66 €4.88 €6.10 55
EV/EBIT €36.88 €53.33 €69.78 53
EV/EBITDA €51.79 €73.20 €94.62 54
EV/Revenue €30.30 €48.63 €66.96 43
Asset-Based
NCAV (Graham) €4.88 €6.54 €9.76 50
Growth DCF
Growth DCF €24.86 €37.48 €58.39 80
Rev-Margin DCF €25.40 €44.46 €67.76 74
Economic Profit
Residual Income €7.02 €6.88 €5.78 76
ROIC Compounder €19.82 €26.20 €32.78 72
Growth Earnings
Growth-Adj P/E €2.61 €3.73 €4.84 68

Widest divergence: Growth DCF (€37.48) versus Earnings-Based (€2.39). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €4.6B
Revenue growth (YoY) -14.9%
Net margin -0.6%
Return on equity -1.5%
Free cash flow €404M FY2025
P/E ratio 878.0
More key figures
Operating margin 10.9%
EPS (TTM) €0.0300
Dividend yield 5.5%
EPS growth (YoY) +596%
Net debt €1.6B FY2025

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 50 · Market factors (momentum, volatility) 58

Profitability 29
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 82
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

Solvay SA provides basic and performance chemicals worldwide. The company engages in the production of sodium carbonate or soda ash and its derivatives used by customers in glass for building, solar panels, glass containers, and packaging; in lithium-ion batteries for electric vehicles; and for detergents and chemicals, as well as sodium bicarbonate for …

Full company description

Solvay SA provides basic and performance chemicals worldwide. The company engages in the production of sodium carbonate or soda ash and its derivatives used by customers in glass for building, solar panels, glass containers, and packaging; in lithium-ion batteries for electric vehicles; and for detergents and chemicals, as well as sodium bicarbonate for food and animal feed, and flue gas treatment or healthcare applications. It also offers hydrogen peroxide for use in bleaching, decontamination, disinfection, and antiseptic applications in the pulp and paper, textile, water, and food industries; and as an intermediate to produce propylene oxide and caprolactam chemicals, as well as used in semiconductors, photovoltaic, urban mining, and battery sectors. In addition, the company provides precipitated silica, a component in applications in the tire, home and personal care, and feed and food industries; highly dispersible silica used in various tire parts; and oxygenated solvents and polyamides for use in paintings, hygiene, and home care applications, as well as for the production of phenol and derivatives used as intermediates to produce synthetic resins in foundries, construction, and abrasives. Further, it produces fluorine and rare-earth formulations for automotive, electronics, and various chemical and industrial applications. The company was founded in 1863 and is headquartered in Brussels, Belgium.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Solvay SA reported revenue of €4.7B in FY2025 versus €11.4B in FY2021, a compound −19.7%/yr. Reported net income was €30.0M in FY2025, compounding −57.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€4.7B
Latest YoY
−7.5%
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.
−33.4%
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.
−13.3%
Avg. growth/yr (25Y) 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.
−2.5%
Revenue −19.7%/yr
FY21 €11.4B
FY22 €16.1B
FY23 €6.0B
FY24 €5.1B
FY25 €4.7B
Net income −57.8%/yr
FY21 €948M
FY22 €1.9B
FY23 €2.1B
FY24 €223M
FY25 €30.0M
Character of growth · EPS growth decomposed (2014-2025) −12.1 % p.a.
Revenue per share −9.6 pp

of which total revenue −8.1 pp · buybacks/dilution −1.5 pp

EBIT margin +2.5 pp
Tax rate −5.0 pp
Residual (interest, one-offs) +0.0 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).

SOLB screens 47% overvalued. Compare with BASF SE →

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Cite: Fair Value Calculator (2026). "Solvay SA Fair Value". https://www.fairvalue-calculator.com/stock/SOLB

Peer Group

Chemicals · 331 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 52 · Above median
Fair Value upside −47% · Below median
Return on assets 4% · Above median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 11% · Above median
Revenue growth -15% · Bottom 25%
Dividend yield (TTM) 5.5% · Top 25%
Debt / equity 1.80× · Higher than 75% of peers

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 878.0× · Pricier than 75% of peers
P/B 3.14× · Pricier than 75% of peers
P/S (TTM) 0.70× · Cheaper than median
P/FCF 7.9× · Pricier than 75% of peers
EV/EBITDA 7.7× · Cheaper than median
PEG 0.29× · Cheaper 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 0 · sector 0
FUTURE 0 · sector 19
PAST 0 · sector 20
HEALTH 10 · sector 94
DIVIDEND 100 · sector 28

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.

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

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 467.04 MXN -55%
PT Barito Pacific Tbk, BRPT 1,950 IDR 1,608 IDR -18%
LG Chem, Ltd 051910 275,500 KRW 587,755 KRW +113%
PTT Global Chemical Public Company PTTGC 38.50 THB 18.21 THB -53%
542812 542812 ₹4,709 ₹791.05 -83%
Navin Fluorine International Limited NAVINFLUOR ₹8,357 ₹2,146 -74%
Kansai Nerolac Paints Limited 500165 ₹209.25 ₹80.51 -62%
Deepak Nitrite Limited DEEPAKNTR ₹1,718 ₹679.17 -60%
KCC Corporation 002380 454,000 KRW 1,763,304 KRW +288%
Deepak Fertilisers And Petrochemicals Corporation DEEPAKFERT ₹1,456 ₹990.72 -32%

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Frequently asked questions

Is Solvay SA (SOLB) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €14.02 versus a price of €26.34, about −47% (overvalued).
What is the fair value of SOLB?
Our model-based fair value for Solvay SA is €14.02 (as of Aug 13, 2026), built from audited fundamentals. The current price is €26.34.
What is the quality score of SOLB?
Solvay SA has a Quality Score of 52/100. 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 Solvay SA (SOLB)?
Solvay SA reported trailing-twelve-month revenue of about €4.6B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SOLB?
The net profit margin of Solvay SA is about -0.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Solvay SA pay a dividend?
Solvay SA currently shows a dividend yield of about 9.25% 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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