olivLaw · European equity research
Αγροτικος Οικος Σπυρου Ανωνυμη Εμπορικη Και Βιομηχανικη Εταιρια SPIR.AT
Greece · Athens Stock Exchange · ISIN GRS284183001 · Vertical: Listed companies from Greece
At the close of 06 Nov 2026, Αγροτικος Οικος Σπυρου Ανωνυμη Εμπορικη Και Βιομηχανικη Εταιρια (SPIR.AT) stock was 0.29 EUR (+1.38% on the day), with market capitalisation 8.3 m EUR, P/E 2.9 on diluted EPS of 0.10 EUR over the last 12 months, beta -0.05, 52-week range 0.14–0.65 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 33.9
- weak (30–45)
- Bollinger (20, 2)
- 0.30 – 0.36
- below the lower band · %B -0.07 · band width 17.7%
- SMA 50 / 200
- 0.34 / 0.25
- mixed trend
- MACD (12, 26, 9)
- -0.01 / -0.01
- MACD below 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 | −15.0% | −0.6% | −14.4 pp | — |
| 3 months | −22.2% | −4.2% | −18.1 pp | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | unavailable | +9.9% | unavailable | +0.4% |
| 3 years | unavailable | +49.8% | unavailable | +38.4% |
| 5 years | +33.6% | +42.8% | −9.2 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 100 percentile of its own 1-quarter history (min 1.3, median 1.3, max 1.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 15.5 m | 16.4 m | 15.0 m |
| Revenue YoY | unavailable | +5.9% | −8.4% |
| Net income | -2.2 m | -325.6 k | 2.9 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -0.08 | -0.01 | 0.10 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -14.5% | -2.0% | 19.4% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.4 m EUR
- Financial debt
- 11.0 m EUR
- Net debt
- 9.6 m EUR
- Equity
- 3.0 m EUR
- Total assets
- 37.3 m EUR
- Debt / equity
- 3.63x
- Current ratio
- 2.09x
- ROE
- 190.0%
- ROA
- 7.9%
- 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 | 15.5 m | 16.4 m | 15.0 m | esef· 23 Oct 2026verified |
| Cost of revenue | 9.5 m | 9.7 m | 9.5 m | esef· 23 Oct 2026verified |
| Gross profit | 6.0 m | 6.7 m | 5.5 m | esef· 23 Oct 2026verified |
| Research & development | 739.4 k | 689.2 k | 955.6 k | esef· 23 Oct 2026verified |
| Operating income | -674.9 k | 215.7 k | 1.6 m | esef· 23 Oct 2026verified |
| Interest expense | 3.3 m | 1.9 m | 2.8 m | esef· 23 Oct 2026verified |
| Pre-tax income | -2.5 m | -288.9 k | 3.9 m | esef· 23 Oct 2026verified |
| Income tax | -212.4 k | 31.0 k | 976.7 k | esef· 23 Oct 2026verified |
| Net income | -2.2 m | -325.6 k | 2.9 m | esef· 23 Oct 2026verified |
| Diluted EPS | -0.08 | -0.01 | 0.10 | esef· 23 Oct 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 749.2 k | 803.6 k | 1.4 m | esef· 23 Oct 2026verified |
| Inventories | 7.3 m | 8.0 m | 8.2 m | esef· 23 Oct 2026verified |
| Current assets | 13.0 m | 16.2 m | 17.6 m | esef· 23 Oct 2026verified |
| Property, plant & equipment, net | 3.2 m | 2.9 m | 2.6 m | esef· 23 Oct 2026verified |
| Intangibles (excl. goodwill) | — | 0 | 135.0 k | esef· 23 Oct 2026verified |
| Total assets | 32.1 m | 36.1 m | 37.3 m | esef· 23 Oct 2026verified |
| Accounts payable | 3.9 m | 4.7 m | 7.1 m | esef· 23 Oct 2026verified |
| Long-term debt | 13.3 m | 12.9 m | 11.0 m | esef· 23 Oct 2026verified |
| Current liabilities | 15.2 m | 20.2 m | 8.5 m | esef· 23 Oct 2026verified |
| Total liabilities | 31.7 m | 36.0 m | 34.3 m | esef· 23 Oct 2026verified |
| Equity | 416.0 k | 34.6 k | 3.0 m | esef· 23 Oct 2026verified |
| Shares outstanding at year end | 28.3 m | 28.3 m | 28.3 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
06 Nov 2026Source: olivLaw, closing series
Market cap: 8.3 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: 0.86 – 1.39 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/E0.86 – 1.39 (Mid 1.15)26 companies used · median multiple 11.2x · quartiles 8.3x – 13.5xAEGN.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)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
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 | 9.4% | 59 (vs peers) | 28% |
| Net margin · Quality | 19.4% | 69 (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 | 0.6x | 0 (on a fixed band) | 17% |
| Current ratio · Balance sheet | 2.1x | 100 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | 2.9x | 90 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality63/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial90/100 · 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
ΑΓΡΟΤΙΚΟΣ ΟΙΚΟΣ ΣΠΥΡΟΥ ΑΝΩΝΥΜΗ ΕΜΠΟΡΙΚΗ ΚΑΙ ΒΙΟΜΗΧΑΝΙΚΗ ΕΤΑΙΡΙΑ (SPIR.AT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 15.0 m EUR in 2025; YoY growth -8.4%; net margin 19.4%; ROE 191.0%.
The estimated value range is 0.86–1.39 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.15 EUR, the price of 0.29 EUR leaves a potential of 291.4% (value / price − 1) and a margin of safety of 74.4% (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: 2.1x
- P/E (TTM): 2.9x
- The price is below the estimated value range
What contradicts it
- Interest coverage: 0.6x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Shareholder yield (distributions), 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 | 16.5 bn | 12.1 | 14.0% | 39.7% | +2.7% | +32% / +165% |
| ETE.ATΕθνικη Τραπεζα Της Ελλαδος Α.ε. | 14.8 bn | 12.7 | 13.3% | 42.5% | −5.4% | +21% / +159% |
| ELPE.ATHelleniq Energy Ανωνυμη Εταιρεια Συμμετοχων | 4.9 bn | 28.2 | 6.4% | 1.5% | −9.0% | +95% / +111% |
| CENER.ATCenergy Holdings | 4.4 bn | 22.9 | 24.3% | 9.4% | +14.7% | +41% / +199% |
| BELA.ATJumbo Ανωνυμη Εμπορικη Εταιρεια | 3.7 bn | 11.5 | 21.5% | 26.0% | +7.2% | +0% / +14% |
| AKTR.ATΑκtor Ανώνυμη Εταιρεία Συμμετοχών, Τεχνικών Και Ενεργειακών Έργων | 2.0 bn | 110.6 | 6.7% | 1.3% | +11.2% | +7% / +186% |
| EYDAP.ATΕταιρια Υδρευσεως Και Αποχετευσεως Πρωτευουσης Ανωνυμη Εταιρια | 1.4 bn | — | -2.6% | -5.9% | −2.4% | +83% / +132% |
| ELHA.ATEλβαλχαλκορ Ελληνικη Βιομηχανια Χαλκου Και Αλουμινιου Ανωνυμος Εταιρεια | 1.3 bn | 12.2 | 9.8% | 2.9% | +5.1% | +4% / +80% |
| AEGN.ATΑεροπορια Αιγαιου Ανωνυμη Αεροπορικη Εταιρεια | 995.2 m | 6.7 | 27.7% | 7.9% | +4.6% | −23% / −3% |
| AVAX.ATΑβαξ Ανωνυμη Εταιρεια Εργοληπτικη-Τουριστικη-Εμπορικη-Βιομηχανικη-Οικοδομικων Υλικων & Μηχανηματων | 495.3 m | 10.4 | 25.9% | 5.0% | +47.1% | +37% / +119% |
| BYLOT.ATBally's Intralot Α.ε. | 460.2 m | 15.1 | -9.3% | -12.6% | +34.8% | +10% / +17% |
| ELLAKTOR.ATΕλλακτωρ Ανωνυμη Εταιρεια | 419.4 m | 2.7 | 26.1% | 175.2% | −74.8% | −32% / −44% |
| AEM.ATAlter Ego Media Α.ε. | 350.0 m | 17.8 | 18.3% | 14.0% | +12.6% | −3% / unavailable |
| ALMY.ATΑλουμυλ Βιομηχανια Αλουμινιου Αε | 319.4 m | 10.4 | 23.5% | 6.0% | +11.7% | +15% / +118% |
| 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% |
| EVR.ATΕυρώπη Holdings Α.ε. | 168.6 m | 37.2 | 2.9% | 30.7% | +435.3% | −32% / +33% |
| EYAPS.ATΕταιρεια Υδρευσης & Αποχετευσης Θεσσαλονικης Α.ε. | 166.6 m | 21.6 | 4.1% | 8.8% | +2.4% | +22% / +39% |
| BRIQ.ATBriq Properties Ανωνυμη Εταιρεια Επενδυσεων Σε Ακινητη Περιουσια | 148.6 m | 5.9 | 15.5% | 116.9% | +37.8% | +12% / +69% |
| FAIS.ATΦαις Συμμετοχων Ανωνυμη Εταιρεια | 116.3 m | 8.7 | 22.1% | 6.3% | +12.9% | −7% / unavailable |
| DAIOS.ATΔαϊος Πλαστικα Ανωνυμη Βιομηχανικη Εμπορικη Εταιρεια Α.ε. | 102.0 m | 10.3 | 14.0% | 15.6% | +9.1% | −5% / +113% |
| ASTAK.ATAlpha Real Estate Services Ae | 94.7 m | 12.6 | 10.4% | 30.3% | +22.4% | −7% / −7% |
| ASCO.ATA.s. Εμπορικη-Βιομηχανικη Εταιρια Η/υ & Παιχνιδιων Α.ε. | 59.6 m | 10.4 | 14.1% | 15.8% | +16.4% | +10% / +105% |
| AVE.ATAve Α.ε. | 50.4 m | — | -25.2% | -7.4% | +8.2% | −8% / −13% |
| ELTON.ATΕλτον Διεθνους Εμποριου Ανωνυμη Εμπορικη Βιομηχανικη Εταιρεια | 46.8 m | 13.7 | 4.9% | 1.9% | +8.6% | −12% / −19% |
| ELSTR.ATΕλαστρον Α.ε.β.ε. Χαλυβουργικα Προϊοντα | 45.7 m | 8.2 | 6.6% | 3.3% | −5.2% | +4% / −14% |
1- and 3-year price returns: for SPIR.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 | 0.16 Total return -47% · Per year -47% | 0.28 Total return -5% · Per year -5% | 0.42 Total return 44% · Per year 44% |
| 3 years | 0.12 Total return -58% · Per year -25% | 0.25 Total return -14% · Per year -5% | 0.42 Total return 44% · Per year 13% |
| 5 years | 0.10 Total return -66% · Per year -20% | 0.23 Total return -23% · Per year -5% | 0.42 Total return 44% · Per year 8% |
- Exit P/E± 0.06
- Net margin± 0.04
- Annual revenue growth± 0.04
- Annual dilution± 0.00
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 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.