Materialise stock: fair value
MTLSThe fair value of Materialise under our model is $4.42, the price is 49% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Modestly overvaluedIn our model the price counts as cheap below $3.15 and expensive above $7.36 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $1.20 (cash-flow model) and $7.63 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 10.1%. At 11.1% the fair value would be $4.35, at 9.1% it would be $4.51.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (31.3).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.7%. Discounted at 10.1% (government bond yield 2.7% plus beta 1.48 times a risk premium of 5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $1.20 per share: free cash flow for the next ten years, each year discounted to today at 10.1%, 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 10.1%) |
|---|---|---|---|---|
| 2026 | $5.82M | extrapolated at −3.7% | 0.9083 | $5.28M |
| 2027 | $5.71M | extrapolated at −1.8% | 0.8250 | $4.71M |
| 2028 | $5.69M | extrapolated at −0.5% | 0.7493 | $4.26M |
| 2029 | $5.71M | extrapolated at 0.5% | 0.6806 | $3.89M |
| 2030 | $5.78M | extrapolated at 1.1% | 0.6182 | $3.57M |
| 2031 | $5.87M | extrapolated at 1.6% | 0.5615 | $3.3M |
| 2032 | $5.98M | extrapolated at 1.9% | 0.5100 | $3.05M |
| 2033 | $6.11M | extrapolated at 2.1% | 0.4632 | $2.83M |
| 2034 | $6.25M | extrapolated at 2.3% | 0.4208 | $2.63M |
| 2035 | $6.4M | extrapolated at 2.4% | 0.3822 | $2.45M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $35.97M |
| Terminal value: cash flow 2035 × (1 + 2.7%) / (10.1% − 2.7%) | $88.35M |
| Present value of terminal value (× 0.3822) | $33.76M |
| Equity value (sum plus present value of terminal value) | $69.73M |
| Shares (diluted) | 58.06M |
| Value per share (equity value divided by shares) | $1.20 |
| Earnings per share, last twelve months | $0.24 |
| × 31.3 (industry P/E) | $7.63 |
| Fair value (average of both parts) | $4.42 |
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 7 Aug 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.