Shelly Group Future Growth

Future criteria checks 6/6

Shelly Group is forecast to grow earnings and revenue by 32.4% and 22.7% per annum respectively. EPS is expected to grow by 32.3% per annum. Return on equity is forecast to be 38.8% in 3 years.

Key information

32.4%

Earnings growth rate

32.34%

EPS growth rate

Electronic earnings growth	12.6%
Revenue growth rate	22.7%
Future return on equity	38.78%
Analyst coverage	Low
Last updated	13 Aug 2026

Recent future growth updates

Recent updates

Analysis Article • Jul 09

If EPS Growth Is Important To You, Shelly Group (BUL:SLYG) Presents An Opportunity

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...

Narrative Update • Jun 26

SLYG: Index Inclusion And 2026 Guidance Will Support Stronger Earnings Potential

Analysts have raised their price target for Shelly Group, increasing the fair value estimate from €65.51 to €76.80 after adjusting assumptions for the discount rate, revenue growth, profit margin and future P/E multiple. What’s in the News for Shelly Group Shelly Group SE confirmed earnings guidance for 2026, with expected revenue in a range of €195 million to €205 million and an expected EBIT level of about €50 million, according to company guidance.

Analysis Article • Jan 27

Investors Appear Satisfied With Shelly Group AD's (BUL:SLYG) Prospects As Shares Rocket 25%

Shelly Group AD ( BUL:SLYG ) shares have continued their recent momentum with a 25% gain in the last month alone. The...

Analysis Article • Jan 13

Here's Why We Think Shelly Group AD (BUL:SLYG) Is Well Worth Watching

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...

Analysis Article • Aug 08

Investors Shouldn't Overlook Shelly Group AD's (BUL:A4L) Impressive Returns On Capital

There are a few key trends to look for if we want to identify the next multi-bagger. In a perfect world, we'd like to...

Analysis Article • May 20

An Intrinsic Calculation For Allterco AD (BUL:A4L) Suggests It's 27% Undervalued

Key Insights Using the 2 Stage Free Cash Flow to Equity, Allterco AD fair value estimate is лв33.82 Allterco AD is...

Analysis Article • Aug 16

Returns on Capital Paint A Bright Future For Allterco AD (BUL:A4L)

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...

Analysis Article • Jul 01

Allterco AD's (BUL:A4L) Shareholders Will Receive A Smaller Dividend Than Last Year

The board of Allterco AD ( BUL:A4L ) has announced that the dividend on 10th of August will be reduced by 50% to...

Earnings and Revenue Growth Forecasts

BUL:SLYG - Analysts future estimates and past financials data (EUR Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2028	358	72	37	45	2
12/31/2027	275	56	24	31	2
12/31/2026	204	42	26	31	2
3/31/2026	159	27	4	10	N/A
12/31/2025	150	25	1	6	N/A
9/30/2025	129	27	6	11	N/A
6/30/2025	119	23	4	10	N/A
3/31/2025	113	23	2	7	N/A
12/31/2024	107	22	-1	3	N/A
9/30/2024	96	20	-6	-3	N/A
6/30/2024	89	21	-4	-2	N/A
3/31/2024	81	19	0	3	N/A
12/31/2023	75	17	5	8	N/A
9/30/2023	62	13	10	12	N/A
6/30/2023	57	12	9	10	N/A
3/31/2023	53	10	4	5	N/A
12/31/2022	48	9	-1	0	N/A
9/30/2022	40	9	-2	-1	N/A
6/30/2022	34	8	-1	0	N/A
3/31/2022	32	8	1	2	N/A
12/31/2021	30	8	3	4	N/A
9/30/2021	28	9	3	3	N/A
6/30/2021	30	9	2	3	N/A
3/31/2021	27	8	3	4	N/A
12/31/2020	24	7	1	2	N/A
9/30/2020	21	3	1	2	N/A
6/30/2020	12	5	1	2	N/A
3/31/2020	16	4	1	2	N/A
12/31/2019	17	4	N/A	3	N/A
9/30/2019	19	4	N/A	3	N/A
6/30/2019	26	2	N/A	3	N/A
3/31/2019	24	2	N/A	2	N/A
12/31/2018	23	1	N/A	0	N/A
9/30/2018	20	1	N/A	0	N/A
6/30/2018	20	1	N/A	0	N/A
3/31/2018	21	1	N/A	1	N/A
12/31/2017	20	1	N/A	1	N/A
9/30/2017	20	0	N/A	0	N/A
6/30/2017	18	1	N/A	0	N/A
3/31/2017	17	1	N/A	0	N/A
12/31/2016	17	1	N/A	0	N/A
9/30/2016	17	1	N/A	-3	N/A
6/30/2016	16	0	N/A	-4	N/A
3/31/2016	15	1	N/A	-4	N/A
12/31/2015	15	0	N/A	-4	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SLYG's forecast earnings growth (32.4% per year) is above the savings rate (3.7%).

Earnings vs Market: SLYG's earnings (32.4% per year) are forecast to grow faster than the BG market (12.2% per year).

High Growth Earnings: SLYG's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SLYG's revenue (22.7% per year) is forecast to grow faster than the BG market (16.7% per year).

High Growth Revenue: SLYG's revenue (22.7% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SLYG's Return on Equity is forecast to be high in 3 years time (38.8%)

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/08/13 23:06
End of Day Share Price	2026/08/13 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Shelly Group SE is covered by 5 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Wolfgang Specht	Berenberg
Tim Kruse	Montega AG
Bastian Brach	Montega AG

Shelly Group Future Growth

Future criteria checks 6/6

Key information

Recent future growth updates

Price target increased by 33% to лв82.00

Price target increased by 18% to лв61.68

Price target increased by 77% to лв52.00

Price target increased by 8.5% to лв31.80

Allterco JSCo Revises Earnings Guidance for the Fiscal Year 2022

Price target increased to лв26.30

Recent updates

Schneider Electric Enters into Preliminary Discussions to Acquire Shelly Group Through A Tender Offer

Now 20% undervalued

If EPS Growth Is Important To You, Shelly Group (BUL:SLYG) Presents An Opportunity

Shelly Group Se Approves Dividend

SLYG: Index Inclusion And 2026 Guidance Will Support Stronger Earnings Potential

First quarter 2026 earnings released: EPS: €0.41 (vs €0.31 in 1Q 2025)

Now 20% overvalued

Investor sentiment deteriorates as stock falls 22%

Shelly Group SE to Report Q4, 2025 Results on Jan 30, 2026

Less than half of directors are independent

Shelly Launches Plug Gen4 - The Ultimate Smart Plug for Smart, Secure, Seamless Automation

Third quarter 2025 earnings released: EPS: лв0.92 (vs лв0.43 in 3Q 2024)

Now 22% overvalued after recent price rise

Now 20% overvalued after recent price rise

Now 25% overvalued after recent price rise

Now 23% overvalued after recent price rise

Now 20% overvalued after recent price rise

Dividend of лв0.25 announced

Now 22% overvalued after recent price rise

Shelly Group Se Approves Dividend

First quarter 2025 earnings released: EPS: лв0.61 (vs лв0.50 in 1Q 2024)

Investor sentiment improves as stock rises 20%

Shelly Group SE, Annual General Meeting, Jun 02, 2025

Now 23% undervalued

Full year 2024 earnings released: EPS: лв2.49 (vs лв1.87 in FY 2023)

Shelly Group SE to Report Q1, 2025 Results on May 14, 2025

Third quarter 2024 earnings released: EPS: лв0.48 (vs лв0.44 in 3Q 2023)

Shelly Group AD to Report Q3, 2024 Results on Nov 13, 2024

Shelly Group AD (BUL:SLYG) acquired an additional 50% stake in Shelly Asia Ltd for €0.52 million.

Now 20% overvalued after recent price rise

Investor sentiment deteriorates as stock falls 48%

Now 22% undervalued after recent price drop

Shelly Group AD to Report First Half, 2024 Results on Aug 14, 2024

Price target increased by 33% to лв82.00

First quarter 2024 earnings released: EPS: лв0.49 (vs лв0.33 in 1Q 2023)

Shelly Group AD, Annual General Meeting, Jun 04, 2024

Shelly Group AD Brings Native Version of Its Shelly Smart Control App to Select Audi Models

Shelly Group AD to Report Q1, 2024 Results on May 15, 2024

Price target increased by 18% to лв61.68

Full year 2023 earnings released: EPS: лв1.83 (vs лв0.97 in FY 2022)

Shelly Group AD to Report Fiscal Year 2023 Final Results on Apr 15, 2024

Shelly Group AD (BUL:SLYG) has exercised a call option to acquire an additional 16% stake in Shelly Tech for €0.59 million.

Investors Appear Satisfied With Shelly Group AD's (BUL:SLYG) Prospects As Shares Rocket 25%

Shelly Group AD to Report Fiscal Year 2023 Results on Feb 26, 2024

Here's Why We Think Shelly Group AD (BUL:SLYG) Is Well Worth Watching

Third quarter 2023 earnings released: EPS: лв0.44 (vs лв0.30 in 3Q 2022)

Shelly Group AD to Report Nine Months, 2023 Results on Nov 13, 2023

Price target increased by 77% to лв52.00

Less than half of directors are independent

Shelly Group AD to Report First Half, 2023 Results on Aug 16, 2023

Investor sentiment improves as stock rises 17%

Investors Shouldn't Overlook Shelly Group AD's (BUL:A4L) Impressive Returns On Capital

Second quarter 2023 earnings released

Upcoming dividend of лв0.25 per share at 0.4% yield

Allterco JSCo Approves Dividend

An Intrinsic Calculation For Allterco AD (BUL:A4L) Suggests It's 27% Undervalued

First quarter 2023 earnings released: EPS: лв0.33 (vs лв0.22 in 1Q 2022)

Price target increased by 8.5% to лв31.80

Full year 2022 earnings released: EPS: лв0.97 (vs лв0.89 in FY 2021)

Allterco AD to Report Fiscal Year 2022 Results on Apr 28, 2023

Allterco AD (BUL:A4L) acquired 60% stake in GOAP Racunalniški inženiring in avtomatizacija procesov d.o.o. for €2 million.

Allterco JSCo Revises Earnings Guidance for the Fiscal Year 2022

Price target increased to лв26.30

Third quarter 2022 earnings released

Price target decreased to лв22.60

Less than half of directors are independent

Allterco AD to Report Nine Months, 2022 Results on Nov 14, 2022

Now 20% undervalued

Returns on Capital Paint A Bright Future For Allterco AD (BUL:A4L)