Piraeus Port Authority stock: fair value
PPA.ATThe fair value of Piraeus Port Authority under our model is $38.10, the price is 25% 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 $29.31 and expensive above $54.43 (uncertainty medium, based on the price swings of the past year).
The two parts of the fair value come to $49.49 (cash-flow model) and $26.71 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 9.1%. At 10.1% the fair value would be $34.38, at 8.1% it would be $43.41.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (8.1).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.5%. Discounted at 9.1% (government bond yield 3.5% plus beta 0.8 times a risk premium of 7.1%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $49.49 per share: free cash flow for the next ten years, each year discounted to today at 9.1%, 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 9.1%) |
|---|---|---|---|---|
| 2026 | $69.71M | extrapolated at 3.8% | 0.9164 | $63.88M |
| 2027 | $72.26M | extrapolated at 3.7% | 0.8398 | $60.68M |
| 2028 | $74.86M | extrapolated at 3.6% | 0.7696 | $57.61M |
| 2029 | $77.53M | extrapolated at 3.6% | 0.7052 | $54.67M |
| 2030 | $80.26M | extrapolated at 3.5% | 0.6462 | $51.87M |
| 2031 | $83.08M | extrapolated at 3.5% | 0.5922 | $49.2M |
| 2032 | $85.98M | extrapolated at 3.5% | 0.5427 | $46.66M |
| 2033 | $88.98M | extrapolated at 3.5% | 0.4973 | $44.25M |
| 2034 | $92.07M | extrapolated at 3.5% | 0.4557 | $41.96M |
| 2035 | $95.27M | extrapolated at 3.5% | 0.4176 | $39.79M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $510.58M |
| Terminal value: cash flow 2035 × (1 + 3.5%) / (9.1% − 3.5%) | $1.74B |
| Present value of terminal value (× 0.4176) | $726.75M |
| Equity value (sum plus present value of terminal value) | $1.24B |
| Shares (diluted) | 25.00M |
| Value per share (equity value divided by shares) | $49.49 |
| Earnings per share, last twelve months | $3.31 |
| × 8.1 (industry P/E) | $26.71 |
| Fair value (average of both parts) | $38.10 |
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 Strong, published since 7 Nov 2026 (in the score history since 31 Mar 2022)
- 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.