Figeac Aero stock: fair value
FGA.PAThe fair value of Figeac Aero under our model is $10.50, the price is 12% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Fairly valuedIn our model the price counts as cheap below $8.08 and expensive above $15.00 (uncertainty medium, based on the price swings of the past year).
Calculated with a cost of equity of 9.8%. At 10.8% the fair value would be $9.07, at 8.8% it would be $12.41.
Where the number comes from
From the cash-flow model alone; after a one-off collapse in 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 9.8% (government bond yield 2.8% plus beta 1.57 times a risk premium of 4.5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $10.50 per share: free cash flow for the next ten years, each year discounted to today at 9.8%, 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 9.8%) |
|---|---|---|---|---|
| 2027 | $18.15M | extrapolated at 36.3% | 0.9110 | $16.53M |
| 2028 | $22.91M | extrapolated at 26.3% | 0.8299 | $19.02M |
| 2029 | $27.32M | extrapolated at 19.2% | 0.7560 | $20.65M |
| 2030 | $31.22M | extrapolated at 14.3% | 0.6887 | $21.5M |
| 2031 | $34.6M | extrapolated at 10.8% | 0.6274 | $21.71M |
| 2032 | $37.51M | extrapolated at 8.4% | 0.5715 | $21.44M |
| 2033 | $40.03M | extrapolated at 6.7% | 0.5207 | $20.84M |
| 2034 | $42.25M | extrapolated at 5.5% | 0.4743 | $20.04M |
| 2035 | $44.24M | extrapolated at 4.7% | 0.4321 | $19.12M |
| 2036 | $46.07M | extrapolated at 4.1% | 0.3936 | $18.13M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $198.98M |
| Terminal value: cash flow 2036 × (1 + 2.8%) / (9.8% − 2.8%) | $677.22M |
| Present value of terminal value (× 0.3936) | $266.57M |
| Equity value (sum plus present value of terminal value) | $465.55M |
| Shares (diluted) | 44.34M |
| Value per share (equity value divided by shares) | $10.50 |
| Fair value (from the cash flow model alone) | $10.50 |
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 2026, period end 31 Mar 2026
- 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, published since 7 Nov 2026 (in the score history since 31 May 2019)
- 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.