Zinzino stock: fair value
ZZ-B.STThe fair value of Zinzino under our model is $39.67, the price is 72% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $28.34 and expensive above $66.12 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $59.17 (cash-flow model) and $20.17 (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 7.2%. At 8.2% the fair value would be $34.46, at 6.2% it would be $47.51.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (18.5).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.2%. Discounted at 7.2% (floor: government bond yield 2.2% 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 $59.17 per share: free cash flow for the next ten years, each year discounted to today at 7.2%, 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 7.2%) |
|---|---|---|---|---|
| 2026 | $68.98M | extrapolated at 30.0% | 0.9330 | $64.36M |
| 2027 | $83.9M | extrapolated at 21.6% | 0.8705 | $73.03M |
| 2028 | $97.15M | extrapolated at 15.8% | 0.8122 | $78.9M |
| 2029 | $108.52M | extrapolated at 11.7% | 0.7578 | $82.24M |
| 2030 | $118.13M | extrapolated at 8.9% | 0.7070 | $83.52M |
| 2031 | $126.22M | extrapolated at 6.9% | 0.6597 | $83.26M |
| 2032 | $133.1M | extrapolated at 5.5% | 0.6155 | $81.92M |
| 2033 | $139.04M | extrapolated at 4.5% | 0.5742 | $79.84M |
| 2034 | $144.3M | extrapolated at 3.8% | 0.5358 | $77.31M |
| 2035 | $149.06M | extrapolated at 3.3% | 0.4999 | $74.51M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $778.89M |
| Terminal value: cash flow 2035 × (1 + 2.2%) / (7.2% − 2.2%) | $3.05B |
| Present value of terminal value (× 0.4999) | $1.52B |
| Equity value (sum plus present value of terminal value) | $2.3B |
| Shares (diluted) | 38.90M |
| Value per share (equity value divided by shares) | $59.17 |
| Earnings per share, last twelve months | $1.09 |
| × 18.5 (industry P/E) | $20.17 |
| Fair value (average of both parts) | $39.67 |
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 = SEK 9.9729)
- 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 May 2023)
- Valuation signal Undervalued 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.