KBC Ancora SCA stock: fair value
KBCA.BRThe fair value of KBC Ancora SCA under our model is $76.69, the price is 38% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly overvaluedIn our model the price counts as cheap below $63.91 and expensive above $95.87 (uncertainty low, based on the price swings of the past year).
The two parts of the fair value come to $75.12 (cash-flow model) and $78.27 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is above both.
Calculated with a cost of equity of 7.7%. At 8.7% the fair value would be $70.67, at 6.7% it would be $85.71.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (14).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.7%. Discounted at 7.7% (floor: government bond yield 2.7% plus 5 percentage points, since beta 0.8 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 $75.12 per share: free cash flow for the next ten years, each year discounted to today at 7.7%, 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 7.7%) |
|---|---|---|---|---|
| 2027 | $384.01M | extrapolated at −11.9% | 0.9289 | $356.68M |
| 2028 | $355M | extrapolated at −7.6% | 0.8628 | $306.28M |
| 2029 | $339.05M | extrapolated at −4.5% | 0.8014 | $271.71M |
| 2030 | $331.1M | extrapolated at −2.4% | 0.7444 | $246.46M |
| 2031 | $328.31M | extrapolated at −0.8% | 0.6914 | $226.99M |
| 2032 | $328.99M | extrapolated at 0.2% | 0.6422 | $211.28M |
| 2033 | $332.09M | extrapolated at 0.9% | 0.5965 | $198.1M |
| 2034 | $336.94M | extrapolated at 1.5% | 0.5541 | $186.69M |
| 2035 | $343.06M | extrapolated at 1.8% | 0.5146 | $176.56M |
| 2036 | $350.17M | extrapolated at 2.1% | 0.4780 | $167.39M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $2.35B |
| Terminal value: cash flow 2036 × (1 + 2.7%) / (7.7% − 2.7%) | $7.19B |
| Present value of terminal value (× 0.4780) | $3.44B |
| Equity value (sum plus present value of terminal value) | $5.79B |
| Shares (diluted) | 77.01M |
| Value per share (equity value divided by shares) | $75.12 |
| Earnings per share, last twelve months | $5.60 |
| × 14 (industry P/E) | $78.27 |
| Fair value (average of both parts) | $76.69 |
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 30 Jun 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 Neutral since 12 Nov 2026, previously Strong
- Valuation signal Overvalued 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.