olivLaw · European equity research
Βογιατζογλου Ανωνυμος Εταιρια VOSYS.AT
Greece · Athens Stock Exchange · ISIN GRS407183003 · Vertical: Listed companies from Greece
At the close of 05 Nov 2026, Βογιατζογλου Ανωνυμος Εταιρια (VOSYS.AT) stock was 1.91 EUR (−2.55% on the day), with market capitalisation 12.1 m EUR, P/E 56.0 on diluted EPS of 0.03 EUR over the last 12 months, dividend yield 3.46%, beta 0.31, 52-week range 1.82–2.46 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 48.2
- neutral
- Bollinger (20, 2)
- 1.80 – 2.02
- in the lower half of the band · %B 0.49 · band width 11.5%
- SMA 50 / 200
- 1.95 / 2.06
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.02
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −5.9% | +0.4% | −6.3 pp | — |
| 3 months | −5.4% | −3.3% | −2.2 pp | — |
| 6 months | −7.3% | +4.0% | −11.2 pp | — |
| Year to date | −17.0% | +8.1% | −25.1 pp | — |
| 1 year | −14.0% | +10.7% | −24.7 pp | +0.9% |
| 3 years | −12.4% | +50.1% | −62.5 pp | +35.3% |
| 5 years | −10.7% | +43.6% | −54.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 3-quarter history (min 9.0, median 24.9, max 67.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 37.6 m | 41.8 m | 38.3 m |
| Revenue YoY | unavailable | +11.1% | −8.3% |
| Net income | 1.6 m | 560.0 k | 216.0 k |
| Net income YoY | unavailable | −65.2% | −61.4% |
| Diluted EPS | 0.25 | 0.09 | 0.03 |
| Diluted EPS YoY | unavailable | −65.2% | −61.5% |
| net % | 4.3% | 1.3% | 0.6% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.8 m EUR
- Financial debt
- 5.8 m EUR
- Net debt
- 3.0 m EUR
- Equity
- 18.9 m EUR
- Total assets
- 35.0 m EUR
- Debt / equity
- 0.31x
- Current ratio
- 1.79x
- ROE
- 1.1%
- ROA
- 0.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 37.6 m | 41.8 m | 38.3 m | esef· 23 Oct 2026verified |
| Cost of revenue | 26.3 m | 29.7 m | 27.5 m | esef· 23 Oct 2026verified |
| Gross profit | 11.3 m | 12.1 m | 10.8 m | esef· 23 Oct 2026verified |
| Operating income | 1.8 m | 1.2 m | 701.0 k | esef· 23 Oct 2026verified |
| Pre-tax income | 1.8 m | 675.0 k | 359.0 k | esef· 23 Oct 2026verified |
| Income tax | 236.0 k | 116.0 k | 143.0 k | esef· 23 Oct 2026verified |
| Net income | 1.6 m | 560.0 k | 216.0 k | esef· 23 Oct 2026verified |
| Diluted EPS | 0.25 | 0.09 | 0.03 | esef· 23 Oct 2026verified |
| Dividend per share | 0.15 | 0.14 | 0.07 | esef· 23 Oct 2026derived |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 1.4 m | 2.0 m | 2.8 m | esef· 23 Oct 2026verified |
| Inventories | 7.3 m | 9.1 m | 9.7 m | esef· 23 Oct 2026verified |
| Current assets | 23.8 m | 30.2 m | 24.4 m | esef· 23 Oct 2026verified |
| Property, plant & equipment, net | 7.3 m | 8.5 m | 7.8 m | esef· 23 Oct 2026verified |
| Intangibles (excl. goodwill) | 219.0 k | 176.0 k | 164.0 k | esef· 23 Oct 2026verified |
| Total assets | 34.1 m | 41.6 m | 35.0 m | esef· 23 Oct 2026verified |
| Accounts payable | 5.6 m | 6.9 m | 6.9 m | esef· 23 Oct 2026verified |
| Short-term debt | 3.7 m | 10.5 m | 5.2 m | esef· 23 Oct 2026verified |
| Long-term debt | 998.0 k | 1.3 m | 611.0 k | esef· 23 Oct 2026verified |
| Current liabilities | 11.7 m | 19.0 m | 13.6 m | esef· 23 Oct 2026verified |
| Total liabilities | 14.7 m | 22.3 m | 16.0 m | esef· 23 Oct 2026verified |
| Equity | 19.4 m | 19.3 m | 18.9 m | esef· 23 Oct 2026verified |
| Shares outstanding at year end | 6.3 m | 6.3 m | 6.3 m | esef· 23 Oct 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 12.1 m EUR
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.29 – 1.23 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E0.29 – 0.47 (Mid 0.39)26 companies used · median multiple 11.3x · quartiles 8.4x – 13.7xAEGN.AT, AEM.AT, ALMY.AT, ASCO.AT, ASTAK.AT, AVAX.AT, BELA.AT, BIOKA.AT, BIOSK.AT, BIOT.AT, BRIQ.AT, BYLOT.AT, CENER.AT, CENTR.AT, DAIOS.AT, DIMAND.AT, EIS.AT, ELBE.AT, ELHA.AT, ELLAKTOR.AT, ELSTR.AT, ELTON.AT, ETE.AT, EUROB.AT, EYAPS.AT, FAIS.AT
- Dividend discount (DDM)0.90 – 1.23 (Mid 1.04)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 1.7% | 22 (vs peers) | 28% |
| Net margin · Quality | 0.6% | 18 (vs peers) | 17% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.8x | 83 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | 56.0x | 7 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 3.5% | 49 (on a fixed band) | 17% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial83/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality21/100 · 2/3 factors with a value
- Returns· partial49/100 · 1/2 factors with a value
- Valuation· partial7/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ΒΟΓΙΑΤΖΟΓΛΟΥ ΑΝΩΝΥΜΟΣ ΕΤΑΙΡΙΑ (VOSYS.AT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 38.3 m EUR in 2025; YoY growth -8.3%; net margin 0.6%; ROE 1.1%.
The estimated value range is 0.59–0.85 EUR per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 0.71 EUR, the price of 1.91 EUR leaves a potential of -62.8% (value / price − 1) and a margin of safety of -168.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 1.8x
What contradicts it
- ROIC: 1.7%
- Net margin: 0.6%
- P/E (TTM): 56.0x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Greece · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EUROB.ATΤραπεζα Eurobank Ανωνυμη Eταιρεια | 17.3 bn | 12.7 | 14.0% | 39.7% | +2.7% | +38% / +178% |
| ETE.ATΕθνικη Τραπεζα Της Ελλαδος Α.ε. | 15.2 bn | 13.1 | 13.3% | 42.5% | −5.4% | +24% / +167% |
| ELPE.ATHelleniq Energy Ανωνυμη Εταιρεια Συμμετοχων | 4.9 bn | 28.5 | 6.4% | 1.5% | −9.0% | +97% / +114% |
| CENER.ATCenergy Holdings | 4.5 bn | 23.5 | 24.3% | 9.4% | +14.7% | +45% / +207% |
| BELA.ATJumbo Ανωνυμη Εμπορικη Εταιρεια | 3.7 bn | 11.6 | 21.5% | 26.0% | +7.2% | +1% / +15% |
| AKTR.ATΑκtor Ανώνυμη Εταιρεία Συμμετοχών, Τεχνικών Και Ενεργειακών Έργων | 2.0 bn | 110.5 | 6.7% | 1.3% | +11.2% | +7% / +186% |
| EYDAP.ATΕταιρια Υδρευσεως Και Αποχετευσεως Πρωτευουσης Ανωνυμη Εταιρια | 1.5 bn | — | -2.6% | -5.9% | −2.4% | +86% / +136% |
| ELHA.ATEλβαλχαλκορ Ελληνικη Βιομηχανια Χαλκου Και Αλουμινιου Ανωνυμος Εταιρεια | 1.3 bn | 12.4 | 9.8% | 2.9% | +5.1% | +6% / +83% |
| AEGN.ATΑεροπορια Αιγαιου Ανωνυμη Αεροπορικη Εταιρεια | 1.0 bn | 6.9 | 27.7% | 7.9% | +4.6% | −21% / −1% |
| AVAX.ATΑβαξ Ανωνυμη Εταιρεια Εργοληπτικη-Τουριστικη-Εμπορικη-Βιομηχανικη-Οικοδομικων Υλικων & Μηχανηματων | 505.7 m | 10.7 | 25.9% | 5.0% | +47.1% | +40% / +123% |
| BYLOT.ATBally's Intralot Α.ε. | 464.8 m | 15.3 | -9.3% | -12.6% | +34.8% | +12% / +18% |
| ELLAKTOR.ATΕλλακτωρ Ανωνυμη Εταιρεια | 421.5 m | 2.7 | 26.1% | 175.2% | −74.8% | −32% / −44% |
| AEM.ATAlter Ego Media Α.ε. | 356.1 m | 18.1 | 18.3% | 14.0% | +12.6% | −2% / unavailable |
| ALMY.ATΑλουμυλ Βιομηχανια Αλουμινιου Αε | 324.0 m | 10.5 | 23.5% | 6.0% | +11.7% | +16% / +121% |
| DIMAND.ATDimand Ανωνυμη Εταιρεια Αξιοποιησης Και Εκμεταλλευσης Ακινητων Και Κατασκευων Υπηρεσιων Και Συμμετοχων | 266.7 m | 7.6 | 18.5% | 58.5% | +110.6% | +42% / +28% |
| EYAPS.ATΕταιρεια Υδρευσης & Αποχετευσης Θεσσαλονικης Α.ε. | 169.9 m | 22.0 | 4.1% | 8.8% | +2.4% | +24% / +42% |
| EVR.ATΕυρώπη Holdings Α.ε. | 168.6 m | 37.2 | 2.9% | 30.7% | +435.3% | −32% / +33% |
| BRIQ.ATBriq Properties Ανωνυμη Εταιρεια Επενδυσεων Σε Ακινητη Περιουσια | 150.0 m | 5.9 | 15.5% | 116.9% | +37.8% | +13% / +70% |
| FAIS.ATΦαις Συμμετοχων Ανωνυμη Εταιρεια | 117.2 m | 8.7 | 22.1% | 6.3% | +12.9% | −6% / unavailable |
| DAIOS.ATΔαϊος Πλαστικα Ανωνυμη Βιομηχανικη Εμπορικη Εταιρεια Α.ε. | 107.2 m | 10.9 | 14.0% | 15.6% | +9.1% | 0% / +123% |
| ASTAK.ATAlpha Real Estate Services Ae | 93.3 m | 12.4 | 10.4% | 30.3% | +22.4% | −8% / −8% |
| ASCO.ATA.s. Εμπορικη-Βιομηχανικη Εταιρια Η/υ & Παιχνιδιων Α.ε. | 59.8 m | 10.5 | 14.1% | 15.8% | +16.4% | +11% / +106% |
| AVE.ATAve Α.ε. | 50.9 m | — | -25.2% | -7.4% | +8.2% | −7% / −12% |
| ELTON.ATΕλτον Διεθνους Εμποριου Ανωνυμη Εμπορικη Βιομηχανικη Εταιρεια | 47.3 m | 13.9 | 4.9% | 1.9% | +8.6% | −11% / −18% |
| ELSTR.ATΕλαστρον Α.ε.β.ε. Χαλυβουργικα Προϊοντα | 46.3 m | 8.3 | 6.6% | 3.3% | −5.2% | +5% / −13% |
1- and 3-year price returns: for VOSYS.AT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.02 Total return -45% · Per year -45% | 1.81 Total return -3% · Per year -3% | 2.75 Total return 46% · Per year 46% |
| 3 years | 0.81 Total return -54% · Per year -23% | 1.64 Total return -9% · Per year -3% | 2.75 Total return 50% · Per year 14% |
| 5 years | 0.64 Total return -61% · Per year -17% | 1.48 Total return -15% · Per year -3% | 2.75 Total return 54% · Per year 9% |
- Exit P/E± 0.41
- Net margin± 0.29
- Annual revenue growth± 0.26
- Annual dilution± 0.02
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202523 Oct 2026
- Annual report 202523 Oct 2026
- Annual report 202423 Oct 2026
- Annual report 202423 Oct 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.