Miquel y Costas & Miquel stock: fair value
MCM.MCThe fair value of Miquel y Costas & Miquel under our model is $21.04, the price is 47% 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 $17.53 and expensive above $26.29 (uncertainty low, based on the price swings of the past year).
The two parts of the fair value come to $18.46 (cash-flow model) and $23.61 (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%. At 9% the fair value would be $19.49, at 7% it would be $23.35.
Possible value trap: looks cheap, but weak growth.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (20.2).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.0%. Discounted at 8.0% (government bond yield 3.0% plus beta 0.87 times a risk premium of 5.8%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $18.46 per share: free cash flow for the next ten years, each year discounted to today at 8.0%, 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 8.0%) |
|---|---|---|---|---|
| 2026 | $32.48M | extrapolated at 6.5% | 0.9260 | $30.08M |
| 2027 | $34.26M | extrapolated at 5.5% | 0.8576 | $29.38M |
| 2028 | $35.87M | extrapolated at 4.7% | 0.7941 | $28.49M |
| 2029 | $37.38M | extrapolated at 4.2% | 0.7354 | $27.49M |
| 2030 | $38.8M | extrapolated at 3.8% | 0.6810 | $26.43M |
| 2031 | $40.18M | extrapolated at 3.6% | 0.6307 | $25.34M |
| 2032 | $41.54M | extrapolated at 3.4% | 0.5840 | $24.26M |
| 2033 | $42.9M | extrapolated at 3.3% | 0.5408 | $23.2M |
| 2034 | $44.25M | extrapolated at 3.2% | 0.5008 | $22.16M |
| 2035 | $45.63M | extrapolated at 3.1% | 0.4638 | $21.16M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $257.99M |
| Terminal value: cash flow 2035 × (1 + 3.0%) / (8.0% − 3.0%) | $934.69M |
| Present value of terminal value (× 0.4638) | $433.5M |
| Equity value (sum plus present value of terminal value) | $691.49M |
| Shares (diluted) | 37.45M |
| Value per share (equity value divided by shares) | $18.46 |
| Earnings per share, last twelve months | $1.17 |
| × 20.2 (industry P/E) | $23.61 |
| Fair value (average of both parts) | $21.04 |
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 24 Apr 2026)
- 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.