Anora Group stock: fair value
ANORA.HEThe fair value of Anora Group under our model is $12.91, the price is 61% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $9.93 and expensive above $18.45 (uncertainty medium, based on the price swings of the past year).
Calculated with a cost of equity of 7.6%. At 8.6% the fair value would be $10.76, at 6.6% it would be $16.15.
Where the number comes from
From the cash-flow model alone; the profit includes one-off items, so there is no industry value.
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.6%. Discounted at 7.6% (floor: government bond yield 2.6% plus 5 percentage points, since beta 0.88 times the risk premium would give less); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $12.91 per share: free cash flow for the next ten years, each year discounted to today at 7.6%, 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 7.6%) |
|---|---|---|---|---|
| 2026 | $43.17M | extrapolated at 3.2% | 0.9292 | $40.11M |
| 2027 | $44.47M | extrapolated at 3.0% | 0.8634 | $38.39M |
| 2028 | $45.75M | extrapolated at 2.9% | 0.8023 | $36.7M |
| 2029 | $47.03M | extrapolated at 2.8% | 0.7455 | $35.06M |
| 2030 | $48.32M | extrapolated at 2.8% | 0.6927 | $33.47M |
| 2031 | $49.63M | extrapolated at 2.7% | 0.6436 | $31.95M |
| 2032 | $50.97M | extrapolated at 2.7% | 0.5981 | $30.48M |
| 2033 | $52.32M | extrapolated at 2.7% | 0.5557 | $29.08M |
| 2034 | $53.71M | extrapolated at 2.7% | 0.5164 | $27.73M |
| 2035 | $55.13M | extrapolated at 2.6% | 0.4798 | $26.45M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $329.43M |
| Terminal value: cash flow 2035 × (1 + 2.6%) / (7.6% − 2.6%) | $1.13B |
| Present value of terminal value (× 0.4798) | $542.9M |
| Equity value (sum plus present value of terminal value) | $872.33M |
| Shares (diluted) | 67.55M |
| Value per share (equity value divided by shares) | $12.91 |
| Fair value (from the cash flow model alone) | $12.91 |
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 Neutral, published since 7 Nov 2026 (in the score history since 21 Oct 2026)
- Valuation signal Undervalued 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.