Accor S. A. (AC) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Accor S. A. stock €41.40, price €49.48, that is 16.3% below the price, quality 65 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range €18.61 – €51.62 · fair‑value band €24.27 – €53.84 · the €49.48 price screens above the €41.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.
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Accor SA operates a chain of hotels worldwide. The company operates through Premium, Midscale and Economy; and Luxury & Lifestyle segments.
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Its Premium, Midscale and Economy segment includes the Ibis, Novotel, Mercure, Swissôtel, Mövenpick, and Pullman brands operating in Europe and North Africa, the Middle East, Africa, the Asia-Pacific, the Americas, and China.
The company Luxury & Lifestyle segment includes the Raffles and Fairmont, Sofitel, MGallery and Emblems, and Ennismore brands. It also owns, leases, manages, and franchises hotels.
In addition, the company provides discount card programs; catering and event management; digital, hotel booking, and concierge services; and other services in events, fine dining, and entertainment, as well as operation of performance venues and coworking spaces.
Further, it offers hotel management, personnel, procurement, treasury and management, IT, advertising, and other advice services. Accor SA was incorporated in 1960 and is headquartered in Issy-les-Moulineaux, France.
Stock analysis
Accor S. A. (AC) currently trades at €49.48, while our model-based Fair Value estimate is €41.40, 16% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €43.07 per share, and 3 of the 24 models we run sit above the €49.48 price.
Bear case: the Earnings-Based group reads lowest at €14.64, and 21 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €24.27 (bear) to €53.84 (bull), the price of €49.48 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Accor S. A. reported revenue of €5.6B in FY2025 versus €2.2B in FY2021, a compound +26.5%/yr. Reported net income was €449M in FY2025, compounding +73.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap €11.5B Large · P/E ratio 43.4 · P/S ratio 2.29 · EPS (TTM) €1.14 · Dividend yield 2.7% · Net margin 5.8% · Return on equity 8.0% · Return on assets (EBIT) 4.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 4% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −27% fair-value upside, at −16%, AC screens cheaper than that median.
Fair Value models
Bear€24.27Fair Value €41.40Bull€53.84
Price €49.48 · Downside -16.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+28.3%
Start year 2020 (pandemic). Over 10 years: +15.2% a year
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+15.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.1%
Dividend (yield on the price)2.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.13.1% vs 12.9%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−41% → 15%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.5%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+11.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +9.0% a year for the price and +3.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Accor's progress toward a purely asset-light model with ongoing hotel openings and EBITDA growth forms its core strength, while thin public evidence continues to limit assessment of durable advantages.
Main risk: AI-powered travel agents could capture hotel discovery and bookings on platforms like ChatGPT or Gemini, reducing direct channels and increasing effective distribution costs or data loss for Accor and its franchisees.
Bull case: By embedding its brands and loyalty program deeply into AI platforms while tightening franchise compliance standards, Accor could turn new distribution channels and regulatory scrutiny into advantages that accelerate direct and partner growth.
Bear case: If AI agents dominate bookings and compliance issues lead to contract losses or legal costs, the asset-light model could see slower signings, higher owner churn and sustained margin pressure across key markets.
Accor opened 109 hotels in the first half while posting 6.5 percent EBITDA growth despite disruptions in the Middle East. The pending sale of its Essendi stake completes the move to a purely asset-light model. Will this structure speed up franchise signings across new markets more than it ties results to the execution of third-party owners?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Lodging · 161 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−16.3% · Below median
Profitability
Return on equity (12 months)8.0% · Above median
Return on assets3.8% · Above median
Net margin (12 months)5.8% · Below median
Operating margin (12 months)14.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)0.5% · Below median
Dividend yield (12 months)2.7% · Above median
Balance sheet
Debt / equity0.73× · Highest 25%
Valuation Multiplesvs Lodging median · lower = cheaper
P/E (12 months)43.4× · Priciest 25%
P/B3.01× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Accor S. A. Fair Value". https://www.fairvalue-calculator.com/stock/AC
Frequently asked questions
Is Accor S. A. (AC) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of €41.40 versus a price of €49.48, about 16% lower (overvalued).
What is the fair value of AC?
Our model-based fair value for Accor S. A. is €41.40 (as of Nov 3, 2026), built from audited fundamentals. The current price: €49.48.
What is the quality score of AC?
Accor S. A. has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Accor S. A. (AC)?
Our model-based price target is the fair value of €41.40 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario €24.27, optimistic scenario €53.84. It is a calculation from audited fundamentals, not an analyst target.
What is the Accor S. A. stock forecast for 2026?
Our models put fair value at €41.40, about 16% lower versus a price of €49.48 (overvalued). Cautious scenario €24.27, optimistic scenario €53.84. The calculation is refreshed regularly with new filings.
What is the revenue of Accor S. A. (AC)?
Accor S. A. reported trailing-twelve-month revenue of about €5.7B (latest available figure, as of Nov 3, 2026).
Does Accor S. A. pay a dividend?
Accor S. A. currently shows a dividend yield of 2.73% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Accor S. A. (AC)?
For today's price to be fair in a discounted-cash-flow model, Accor S. A. would have to grow free cash flow by +11.4 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +28.3 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of AC use?
Our models discount Accor S. A. at 9.5 %: a base by market capitalisation (large), damped by beta 0.88, country premium for France. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Accor S. A. that is +11.4 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Accor S. A. (AC) delivered so far?
Over the past 5 years revenue at Accor S. A. grew +28.3 % a year. The price currently implies +11.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Accor S. A. (AC) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Accor S. A. (+11.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Accor S. A. (AC)?
The free-cash-flow yield on the price is 5.33 %: that much free cash flow Accor S. A. produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Accor S. A. (AC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Accor S. A. it is €41.40 per share (as of Nov 3, 2026), against a price of €49.48. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Accor S. A. stock overvalued or undervalued in 2026?
As of Nov 3, 2026, AC trades above its calculated fair value: price €49.48, fair value €41.40, a gap of about −16% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AC?
No. The price is what the market pays today (€49.48); the fair value is what the company's own numbers justify (€41.40). For Accor S. A. the two are €8.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is Accor S. A. worth?
The market values Accor S. A. at about €11.5B (market capitalisation, as of Nov 3, 2026). Per share that is €49.48; our models calculate a fair value of €41.40 per share.
What do the bullish and bearish scenarios say about AC?
Our models span a range for Accor S. A.: cautious scenario €24.27, base €41.40, optimistic €53.84 per share (as of Nov 3, 2026, price €49.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AC?
Accor S. A. trades at a price-to-earnings ratio of 43.4 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €41.40 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 30.7 (reported for FY2025: 34.7). Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 28.4. Other multiples: PEG 1.0, P/B 3.0, P/S 2.3, EV/EBITDA 14.4.
What is the PEG ratio of AC?
The PEG ratio of Accor S. A. is 1.05 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Accor S. A. (AC)?
Balance-sheet figures for Accor S. A. (as of Nov 3, 2026): return on equity 8.0%, debt of 0.73 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is AC from its 52-week high?
Accor S. A. trades at €49.48, about 4% below its 52-week high of €51.62 and 29% above the low of €38.37 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of €41.40 is for.
Which stocks are comparable to Accor S. A.?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, Hyatt Hotels Corporation, H World Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Accor S. A. stock attractive at the current price?
The data as of Nov 3, 2026: price €49.48, calculated fair value €41.40 (−16%), Quality Score 65/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AC calculated?
We run Accor S. A. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €41.40, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Accor S. A. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Accor S. A. (AC)?
The closing price on Nov 5, 2026 was €49.48. Our model-based fair value is €41.40, about 16% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Accor S. A. right now?
Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€24.27 to €53.84) leaves room in how you read the outcome.
Where does the earnings growth of Accor S. A. (AC) come from?
Earnings per share at Accor S. A. grew +14.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.3 %, EBIT margin −0.9 %, tax rate +2.4 %, residual (interest, one-offs) +6.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Accor S. A.
How large is the market capitalisation of Accor S. A. (AC)?
The market capitalisation of Accor S. A. is €11.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Accor S. A. (AC)?
The price-to-sales ratio of Accor S. A. is 2.29 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Accor S. A. (AC)?
Earnings per share at Accor S. A. are €1.14 (price ÷ EPS = P/E 43.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Accor S. A. (AC)?
The dividend yield of Accor S. A. is 2.7% (payout 105%, on adjusted earnings, reported 118%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Accor S. A. (AC)?
The net margin of Accor S. A. is 5.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Accor S. A. (AC)?
The return on equity (ROE) of Accor S. A. is 8.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Accor S. A. (AC)?
On an EBIT basis the return on assets of Accor S. A. is 4.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Accor S. A. (AC)?
The operating margin of Accor S. A. is 14.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Accor S. A. (AC)?
Revenue at Accor S. A. is growing +0.5% versus a year earlier (3y avg +10.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Accor S. A. (AC)?
Earnings per share at Accor S. A. are growing −58.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Accor S. A. (AC) carry?
The net debt of Accor S. A. is €3.1B (fiscal year 2025, ≈ 5.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 3, 2026