Elvalhalcor Hellenic Copper and Aluminium Industry stock: fair value
ELHA.ATThe fair value of Elvalhalcor Hellenic Copper and Aluminium Industry under our model is $7.82, the price is 49% 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 $5.59 and expensive above $13.03 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $7.13 (cash-flow model) and $8.51 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 12.3%. At 13.3% the fair value would be $7.42, at 11.3% it would be $8.32.
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 3.5%. Discounted at 12.3% (government bond yield 3.5% plus beta 1.25 times a risk premium of 7.1%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $7.13 per share: free cash flow for the next ten years, each year discounted to today at 12.3%, 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 12.3%) |
|---|---|---|---|---|
| 2026 | $129.84M | extrapolated at 39.8% | 0.8901 | $115.57M |
| 2027 | $167.36M | extrapolated at 28.9% | 0.7923 | $132.61M |
| 2028 | $202.96M | extrapolated at 21.3% | 0.7053 | $143.15M |
| 2029 | $235.29M | extrapolated at 15.9% | 0.6278 | $147.72M |
| 2030 | $263.96M | extrapolated at 12.2% | 0.5588 | $147.51M |
| 2031 | $289.22M | extrapolated at 9.6% | 0.4975 | $143.87M |
| 2032 | $311.6M | extrapolated at 7.7% | 0.4428 | $137.98M |
| 2033 | $331.71M | extrapolated at 6.5% | 0.3942 | $130.74M |
| 2034 | $350.13M | extrapolated at 5.6% | 0.3509 | $122.85M |
| 2035 | $367.38M | extrapolated at 4.9% | 0.3123 | $114.74M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $1.34B |
| Terminal value: cash flow 2035 × (1 + 3.5%) / (12.3% − 3.5%) | $4.28B |
| Present value of terminal value (× 0.3123) | $1.34B |
| Equity value (sum plus present value of terminal value) | $2.67B |
| Shares (diluted) | 374.85M |
| Value per share (equity value divided by shares) | $7.13 |
| Earnings per share, last twelve months | $0.46 |
| × 18.4 (industry P/E) | $8.51 |
| Fair value (average of both parts) | $7.82 |
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 Nov 2025)
- 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.