Assystem stock: fair value
ASY.PAThe fair value of Assystem under our model is $91.78, the price is 55% 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 $70.60 and expensive above $131.11 (uncertainty medium, based on the price swings of the past year).
Calculated with a cost of equity of 8%. At 9% the fair value would be $76.48, at 7% it would be $114.31.
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 2.8%. Discounted at 8.0% (government bond yield 2.8% plus beta 1.18 times a risk premium of 4.4%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $91.78 per share: free cash flow for the next ten years, each year discounted to today at 8.0%, 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 8.0%) |
|---|---|---|---|---|
| 2026 | $50.83M | extrapolated at 21.3% | 0.9257 | $47.05M |
| 2027 | $58.81M | extrapolated at 15.7% | 0.8569 | $50.4M |
| 2028 | $65.77M | extrapolated at 11.8% | 0.7932 | $52.17M |
| 2029 | $71.76M | extrapolated at 9.1% | 0.7343 | $52.7M |
| 2030 | $76.94M | extrapolated at 7.2% | 0.6797 | $52.3M |
| 2031 | $81.47M | extrapolated at 5.9% | 0.6292 | $51.26M |
| 2032 | $85.5M | extrapolated at 5.0% | 0.5824 | $49.8M |
| 2033 | $89.18M | extrapolated at 4.3% | 0.5392 | $48.08M |
| 2034 | $92.61M | extrapolated at 3.8% | 0.4991 | $46.22M |
| 2035 | $95.87M | extrapolated at 3.5% | 0.4620 | $44.29M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $494.27M |
| Terminal value: cash flow 2035 × (1 + 2.8%) / (8.0% − 2.8%) | $1.88B |
| Present value of terminal value (× 0.4620) | $867.55M |
| Equity value (sum plus present value of terminal value) | $1.36B |
| Shares (diluted) | 14.84M |
| Value per share (equity value divided by shares) | $91.78 |
| Fair value (from the cash flow model alone) | $91.78 |
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 29 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.