Acerinox stock: fair value
ACX.MCThe fair value of Acerinox under our model is $8.33, the price is 112% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly overvaluedIn our model the price counts as cheap below $6.40 and expensive above $11.89 (uncertainty medium, based on the price swings of the past year).
Calculated with a cost of equity of 11.9%. At 12.9% the fair value would be $7.53, at 10.9% it would be $9.32.
Where the number comes from
From the cash-flow model alone; without earnings there is no industry value.
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.0%. Discounted at 11.9% (government bond yield 3.0% plus beta 1.55 times a risk premium of 5.8%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $8.33 per share: free cash flow for the next ten years, each year discounted to today at 11.9%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 11.9%) |
|---|---|---|---|---|
| 2026 | $229.36M | extrapolated at −9.1% | 0.8935 | $204.93M |
| 2027 | $216.84M | extrapolated at −5.5% | 0.7983 | $173.11M |
| 2028 | $210.48M | extrapolated at −2.9% | 0.7133 | $150.13M |
| 2029 | $208.03M | extrapolated at −1.2% | 0.6373 | $132.58M |
| 2030 | $208.18M | extrapolated at 0.1% | 0.5694 | $118.54M |
| 2031 | $210.13M | extrapolated at 0.9% | 0.5088 | $106.91M |
| 2032 | $213.38M | extrapolated at 1.6% | 0.4546 | $97M |
| 2033 | $217.58M | extrapolated at 2.0% | 0.4062 | $88.38M |
| 2034 | $222.51M | extrapolated at 2.3% | 0.3629 | $80.75M |
| 2035 | $228.02M | extrapolated at 2.5% | 0.3243 | $73.94M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $1.23B |
| Terminal value: cash flow 2035 × (1 + 3.0%) / (11.9% − 3.0%) | $2.62B |
| Present value of terminal value (× 0.3243) | $849.57M |
| Equity value (sum plus present value of terminal value) | $2.08B |
| Shares (diluted) | 249.34M |
| Value per share (equity value divided by shares) | $8.33 |
| Fair value (from the cash flow model alone) | $8.33 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 18 Oct 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.