IES Holdings stock: fair value
IESCThe fair value of IES Holdings under our model is $254.43, the price is 30% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 12 Nov 2026
Valuation signal
Modestly undervaluedIn our model the price counts as cheap below $169.62 and expensive above $508.85 (uncertainty very high, based on the price swings of the past year).
The two parts of the fair value come to $296.14 (cash-flow model) and $212.71 (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 8.8%. At 9.8% the fair value would be $228.18, at 7.8% it would be $293.92.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (18.9).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.8%. Discounted at 8.8% (floor: government bond yield 3.8% plus 5 percentage points, since beta 0.99 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 $296.14 per share: free cash flow for the next ten years, each year discounted to today at 8.8%, 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 8.8%) |
|---|---|---|---|---|
| 2026 | $331.4M | extrapolated at 36.5% | 0.9189 | $304.51M |
| 2027 | $419.94M | extrapolated at 26.7% | 0.8443 | $354.56M |
| 2028 | $503.31M | extrapolated at 19.9% | 0.7758 | $390.47M |
| 2029 | $579.03M | extrapolated at 15.0% | 0.7129 | $412.77M |
| 2030 | $646.67M | extrapolated at 11.7% | 0.6550 | $423.58M |
| 2031 | $706.97M | extrapolated at 9.3% | 0.6019 | $425.51M |
| 2032 | $761.24M | extrapolated at 7.7% | 0.5530 | $421M |
| 2033 | $810.9M | extrapolated at 6.5% | 0.5082 | $412.07M |
| 2034 | $857.24M | extrapolated at 5.7% | 0.4669 | $400.28M |
| 2035 | $901.38M | extrapolated at 5.1% | 0.4291 | $386.74M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $3.93B |
| Terminal value: cash flow 2035 × (1 + 3.8%) / (8.8% − 3.8%) | $18.72B |
| Present value of terminal value (× 0.4291) | $8.03B |
| Equity value (sum plus present value of terminal value) | $11.96B |
| Shares (diluted) | 40.40M |
| Value per share (equity value divided by shares) | $296.14 |
| Earnings per share, last twelve months | $11.25 |
| × 18.9 (industry P/E) | $212.71 |
| Fair value (average of both parts) | $254.43 |
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 12 Nov 2026, recalculated nightly
- Price
- Closing price of 11 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 30 Sep 2025
- 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 28 Oct 2026)
- Valuation signal Fairly valued since 10 Nov 2026, previously Undervalued
- 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.