Industrias Penoles Sab De CV (IPOAF) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of Industrias Penoles Sab De CV stock $21.89, price $35.49, that is 38.3% below the price, quality 82 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $5.09 – $69.07 · fair‑value band $15.81 – $27.36 · the $35.49 price screens above the $21.89 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Industrias Peñoles, S.A.B. de C.V., together with its subsidiaries, engages in the exploration, extraction, and sale of mineral concentrates and minerals in Mexico, Europe, Canada, Asia, the United States, South America, and internationally.
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It operates through Mines of Precious Metal, Base Metals Mines, Metallurgical, and Other segments. The company primarily explores for zinc, lead, copper, gold, silver, cadmium, and magnesium deposits. It is also involved in the smelting and refining of non-ferrous metals.
In addition, the company produces and sells chemical products, such as sodium sulfate, magnesium oxide, magnesium hydroxide, and magnesium sulfate, as well as copper sulfate, zinc sulfate, ammonium sulphate and bisulfite, deprezinc, sodium chloride, sulfuric acid, and antimony trioxide; production of inorganic chemical products.
The company was founded in 1887 and is based in Mexico City, Mexico.
Stock analysis
Industrias Penoles Sab De CV (IPOAF) currently trades at $35.49, while our model-based Fair Value estimate is $21.89, 38% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $68.57 per share, and 18 of the 26 models we run sit above the $35.49 price.
Bear case: the Asset-Based group reads lowest at $3.59, and 8 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $15.81 (bear) to $27.36 (bull), the price of $35.49 sits above 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 82/100 (high quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Industrias Penoles Sab De CV reported revenue of $9.2B in FY2025 versus $6.0B in FY2021, a compound +11.3%/yr. Reported net income was $1.5B in FY2025, compounding +39.0%/yr from FY2021.
Key figures
Market cap $14.1B Large · P/E ratio 6.6 · P/S ratio 1.27 · EPS (TTM) $5.35 · Dividend yield 1.1% · Net margin 19.5% · Return on equity 42.1% · Return on assets (EBIT) 9.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −8% fair-value upside, at −38%, IPOAF screens richer than that median.
Fair Value models
Bear$15.81Fair Value $21.89Bull$27.36
Price $35.49 · Downside -38.3%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($4.25 per share) are deliberately not added.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.
Best data coverage
FCF DCF$46.89$72.85$112.1478
Growth DCF$47.31$69.74$101.3677
Owner Earnings$41.43$64.25$98.7875
All 26 models by family
DCF Models
FCF DCF$46.89$72.85$112.1478
Owner Earnings$41.43$64.25$98.7875
5Y Revenue Exit$28.79$40.93$55.9772
5Y EBITDA Exit$45.19$72.23$104.0474
5Y P/E Exit$44.87$71.64$100.0970
10Y Revenue Exit$34.49$47.23$63.7966
10Y EBITDA Exit$45.36$68.77$100.4567
10Y P/E Exit$45.16$68.36$97.4463
Earnings-Based
Graham-Dodd$25.01$85.81$115.1864
Lynch FV$19.77$28.25$36.7261
PEG = 1.0$19.77$28.25$36.7257
EPV$37.78$43.49$48.4373
Dividend Discount
Gordon GGM$4.67$9.35$14.2366
DDM Multi-Stage$4.67$7.96$9.8667
Multiples
P/E Multiple$46.90$62.53$78.1663
P/S Multiple$19.06$25.42$31.7757
P/B Multiple$31.89$42.52$53.1555
EV/EBIT$52.43$69.69$86.9565
EV/EBITDA$48.07$63.88$79.6967
EV/Revenue$18.43$26.05$33.6853
Asset-Based
NCAV (Graham)$2.37$3.59$4.4854
Growth DCF
Growth DCF$47.31$69.74$101.3677
Rev-Margin DCF$28.79$41.40$56.4772
Economic Profit
Residual Income$21.14$27.22$46.1473
ROIC Compounder$40.36$49.76$60.2071
Growth Earnings
Growth-Adj P/E$41.28$58.97$76.6667
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+37.8%
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.
+18.4%
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.
+14.4%
Start year 2020 (pandemic). Over 10 years: +9.3% a year
Revenue growth 21 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.
+8.9%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
−27.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.8%
Dividend (yield on the price)1.1%
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.base effect: 46.9% / 23.3%
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.12% → 29%
2025 sits 894% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−10.6%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −12.7% a year for the price.
AI conclusion: Solid return on equity and cash generation stand as the main strength while scant visibility into moat drivers and commodity exposure limit long-term durability.
Main risk: Regulatory bodies such as Profepa could impose further temporary closures or stricter compliance requirements on tailings facilities following spills, raising operational costs and disrupting production at sites like Minera Sabinas.
Bull case: By adopting advanced monitoring and waste containment technologies the company could reduce spill incidents and satisfy regulators more readily, sustaining output levels.
Bear case: Repeated regulatory closures combined with labor cost awards could compound expenses and force curtailments at multiple mines, eroding the ability to process ore efficiently.
Peñoles generated strong second-quarter cash flows on elevated gold and silver prices. A Supreme Court ruling last week upheld restrictions on 2019 diesel tax incentives, adding a potential cost burden after years of legal challenges. Will the metals-driven momentum continue to offset these regulatory pressures, or will they erode margins more than expected?
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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.Other Industrial Metals & Mining · 371 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score82 · Top 25%
Fair Value upside−38.3% · Below median
Profitability
Return on equity (12 months)42.1% · Top 25%
Return on assets11.2% · Top 25%
Net margin (12 months)19.5% · Top 25%
Operating margin (12 months)44.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)38.9% · Above median
Dividend yield (12 months)1.1% · Below median
Balance sheet
Debt / equity0.44× · Highest 25%
Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper
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). "Industrias Penoles Sab De CV Fair Value". https://www.fairvalue-calculator.com/stock/IPOAF
Frequently asked questions
Is Industrias Penoles Sab De CV (IPOAF) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $21.89 versus a price of $35.49, about 38% lower (overvalued).
What is the fair value of IPOAF?
Our model-based fair value for Industrias Penoles Sab De CV is $21.89 (as of Nov 6, 2026), built from audited fundamentals. The current price: $35.49.
What is the quality score of IPOAF?
Industrias Penoles Sab De CV has a Quality Score of 82/100. 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 Industrias Penoles Sab De CV (IPOAF)?
Our model-based price target is the fair value of $21.89 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario $15.81, optimistic scenario $27.36. It is a calculation from audited fundamentals, not an analyst target.
What is the Industrias Penoles Sab De CV stock forecast for 2026?
Our models put fair value at $21.89, about 38% lower versus a price of $35.49 (overvalued). Cautious scenario $15.81, optimistic scenario $27.36. The calculation is refreshed regularly with new filings.
What is the revenue of Industrias Penoles Sab De CV (IPOAF)?
Industrias Penoles Sab De CV reported trailing-twelve-month revenue of about $11.1B (latest available figure, as of Nov 6, 2026).
Does Industrias Penoles Sab De CV pay a dividend?
Industrias Penoles Sab De CV currently shows a dividend yield of 1.07% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Industrias Penoles Sab De CV (IPOAF) and when is the ex-dividend date?
Industrias Penoles Sab De CV pays a dividend of $0.38 per share a year, a dividend yield of 1.1%. The last ex-dividend date was May 13, 2026. The payout ratio is 7.1% of earnings. Free cash flow covers the dividend 13.47 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Industrias Penoles Sab De CV (IPOAF)?
For today's price to be fair in a discounted-cash-flow model, Industrias Penoles Sab De CV would have to grow free cash flow by -10.6 % per year for five years (discount rate 9.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.4 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of IPOAF use?
Our models discount Industrias Penoles Sab De CV at 9.4 %: a base by market capitalisation (large), damped by beta 1.09, country premium for USA. 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 Industrias Penoles Sab De CV that is -10.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.4 %) and the same formula as our fair value.
How much growth has Industrias Penoles Sab De CV (IPOAF) delivered so far?
Over the past 5 years revenue at Industrias Penoles Sab De CV grew +14.4 % a year. The price currently implies free-cash-flow growth of -10.6 % per 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 Industrias Penoles Sab De CV (IPOAF) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Industrias Penoles Sab De CV (-10.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Industrias Penoles Sab De CV (IPOAF)?
The free-cash-flow yield on the price is 14.42 %: that much free cash flow Industrias Penoles Sab De CV produces per unit of market value. When it exceeds the discount rate of our models (9.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Industrias Penoles Sab De CV (IPOAF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Industrias Penoles Sab De CV it is $21.89 per share (as of Nov 6, 2026), against a price of $35.49. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Industrias Penoles Sab De CV stock overvalued or undervalued in 2026?
As of Nov 6, 2026, IPOAF trades above its calculated fair value: price $35.49, fair value $21.89, a gap of about −38% (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 IPOAF?
No. The price is what the market pays today ($35.49); the fair value is what the company's own numbers justify ($21.89). For Industrias Penoles Sab De CV the two are $13.60 per share apart. That gap is exactly why we show both numbers side by side.
How much is Industrias Penoles Sab De CV worth?
The market values Industrias Penoles Sab De CV at about $14.1B (market capitalisation, as of Nov 6, 2026). Per share that is $35.49; our models calculate a fair value of $21.89 per share.
What do the bullish and bearish scenarios say about IPOAF?
Our models span a range for Industrias Penoles Sab De CV: cautious scenario $15.81, base $21.89, optimistic $27.36 per share (as of Nov 6, 2026, price $35.49). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IPOAF?
Industrias Penoles Sab De CV trades at a price-to-earnings ratio of 6.6 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $21.89 is built from several models across several years. Other multiples: P/B 2.5, P/S 1.3, EV/EBITDA 2.6.
How solid is the balance sheet of Industrias Penoles Sab De CV (IPOAF)?
Balance-sheet figures for Industrias Penoles Sab De CV (as of Nov 6, 2026): return on equity 42.1%, debt of 0.44 per unit of equity. They feed the Quality Score of 82/100, which measures business quality independently of the share price.
How far is IPOAF from its 52-week high?
Industrias Penoles Sab De CV trades at $35.49, about 49% below its 52-week high of $69.07 and 1% above the low of $35.14 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $21.89 is for.
Which stocks are comparable to Industrias Penoles Sab De CV?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, 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 Industrias Penoles Sab De CV stock attractive at the current price?
The data as of Nov 6, 2026: price $35.49, calculated fair value $21.89 (−38%), Quality Score 82/100, from 26 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 IPOAF calculated?
We run Industrias Penoles Sab De CV through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $21.89 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Industrias Penoles Sab De CV 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 Industrias Penoles Sab De CV (IPOAF)?
The closing price on Nov 2, 2026 was $35.49. Our model-based fair value is $21.89, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Industrias Penoles Sab De CV right now?
A high-quality business (quality 82/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case ($27.36). The favourable scenario is already priced in.
Key figures of Industrias Penoles Sab De CV
How large is the market capitalisation of Industrias Penoles Sab De CV (IPOAF)?
The market capitalisation of Industrias Penoles Sab De CV is $14.1B. 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 Industrias Penoles Sab De CV (IPOAF)?
The price-to-sales ratio of Industrias Penoles Sab De CV is 1.27 (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 Industrias Penoles Sab De CV (IPOAF)?
Earnings per share at Industrias Penoles Sab De CV are $5.35 (price ÷ EPS = P/E 6.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Industrias Penoles Sab De CV (IPOAF)?
The dividend yield of Industrias Penoles Sab De CV is 1.1% (payout 7.1%). 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 Industrias Penoles Sab De CV (IPOAF)?
The net margin of Industrias Penoles Sab De CV is 19.5% (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 Industrias Penoles Sab De CV (IPOAF)?
The return on equity (ROE) of Industrias Penoles Sab De CV is 42.1% (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 Industrias Penoles Sab De CV (IPOAF)?
On an EBIT basis the return on assets of Industrias Penoles Sab De CV is 9.1% (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 Industrias Penoles Sab De CV (IPOAF)?
The operating margin of Industrias Penoles Sab De CV is 44.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Industrias Penoles Sab De CV (IPOAF)?
Revenue at Industrias Penoles Sab De CV is growing +38.9% versus a year earlier (3y avg +18.4%). 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 Industrias Penoles Sab De CV (IPOAF)?
Earnings per share at Industrias Penoles Sab De CV are growing +92.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Industrias Penoles Sab De CV (IPOAF) hold?
Industrias Penoles Sab De CV holds more cash than debt, $342M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 6, 2026