N.V. Bekaert stock: fair value
BEKB.BRThe fair value of N.V. Bekaert under our model is $73.57, the price is 36% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Possible value trapIn our model the price counts as cheap below $52.55 and expensive above $122.62 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $113.83 (cash-flow model) and $33.31 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 8.7%. At 9.7% the fair value would be $65.48, at 7.7% it would be $84.88.
Possible value trap: looks cheap, but weak growth.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (18.4).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.7%. Discounted at 8.7% (government bond yield 2.7% plus beta 1.2 times a risk premium of 5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $113.83 per share: free cash flow for the next ten years, each year discounted to today at 8.7%, 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 8.7%) |
|---|---|---|---|---|
| 2026 | $339.29M | extrapolated at 2.2% | 0.9201 | $312.17M |
| 2027 | $347.15M | extrapolated at 2.3% | 0.8465 | $293.87M |
| 2028 | $355.55M | extrapolated at 2.4% | 0.7789 | $276.93M |
| 2029 | $364.4M | extrapolated at 2.5% | 0.7166 | $261.14M |
| 2030 | $373.67M | extrapolated at 2.5% | 0.6594 | $246.38M |
| 2031 | $383.3M | extrapolated at 2.6% | 0.6067 | $232.53M |
| 2032 | $393.27M | extrapolated at 2.6% | 0.5582 | $219.51M |
| 2033 | $403.57M | extrapolated at 2.6% | 0.5136 | $207.26M |
| 2034 | $414.19M | extrapolated at 2.6% | 0.4725 | $195.71M |
| 2035 | $425.13M | extrapolated at 2.6% | 0.4347 | $184.83M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $2.43B |
| Terminal value: cash flow 2035 × (1 + 2.7%) / (8.7% − 2.7%) | $7.24B |
| Present value of terminal value (× 0.4347) | $3.15B |
| Equity value (sum plus present value of terminal value) | $5.58B |
| Shares (diluted) | 49.01M |
| Value per share (equity value divided by shares) | $113.83 |
| Earnings per share, last twelve months | $1.81 |
| × 18.4 (industry P/E) | $33.31 |
| Fair value (average of both parts) | $73.57 |
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 2 Oct 2026)
- Valuation signal Fairly valued 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.