Brunel International stock: fair value
BRNL.ASThe fair value of Brunel International under our model is $11.10, the price is 30% 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 $7.93 and expensive above $18.50 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $19.06 (cash-flow model) and $3.15 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 7.3%. At 8.3% the fair value would be $9.44, at 6.3% it would be $13.61.
Possible value trap: looks cheap, but score below 50, weak growth.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (18.2).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.3%. Discounted at 7.3% (floor: government bond yield 2.3% plus 5 percentage points, since beta 1 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 $19.06 per share: free cash flow for the next ten years, each year discounted to today at 7.3%, 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 7.3%) |
|---|---|---|---|---|
| 2026 | $31.1M | extrapolated at 25.7% | 0.9319 | $28.98M |
| 2027 | $36.91M | extrapolated at 18.7% | 0.8684 | $32.05M |
| 2028 | $42M | extrapolated at 13.8% | 0.8092 | $33.99M |
| 2029 | $46.34M | extrapolated at 10.3% | 0.7541 | $34.94M |
| 2030 | $50.01M | extrapolated at 7.9% | 0.7027 | $35.15M |
| 2031 | $53.14M | extrapolated at 6.2% | 0.6549 | $34.8M |
| 2032 | $55.83M | extrapolated at 5.1% | 0.6103 | $34.07M |
| 2033 | $58.19M | extrapolated at 4.2% | 0.5687 | $33.09M |
| 2034 | $60.32M | extrapolated at 3.7% | 0.5300 | $31.97M |
| 2035 | $62.28M | extrapolated at 3.3% | 0.4939 | $30.76M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $329.8M |
| Terminal value: cash flow 2035 × (1 + 2.3%) / (7.3% − 2.3%) | $1.27B |
| Present value of terminal value (× 0.4939) | $629.39M |
| Equity value (sum plus present value of terminal value) | $959.19M |
| Shares (diluted) | 50.33M |
| Value per share (equity value divided by shares) | $19.06 |
| Earnings per share, last twelve months | $0.17 |
| × 18.2 (industry P/E) | $3.15 |
| Fair value (average of both parts) | $11.10 |
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 since 7 Nov 2026, previously Neutral
- 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.