Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Desarrollos Especiales de Sistemas de Anclaje, S.A. stock €16.06, price €21.60, that is 25.6% below the price, quality 63 out of 100. Rating: overvalued. Calculated from audited financials with 15 of our 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 9, 2026.
How to read this chart
60‑month range €6.73 – €26.07 · fair‑value band €13.40 – €20.94 · the €21.60 price screens above the €16.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Desarrollos Especiales de Sistemas de Anclaje, S.A. manufactures and sells anchors and fixings in Spain and internationally.
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It offers metallic and chemical anchors; plastic fasteners; foams and applicator guns, putties, MS polymer, silicones, adhesives, and guns, PVC adhesives, and butyl belts; and rivets.
The company also offers screws, metric thread screws, and threaded eyelets and hooks; flanges, clamps and tapes, suspension and restraint, rails and accessories, radiators and WC mounts, ribbons and weather strips, and trapdoors.
In addition, it provides tools and consumables, and agricultural pruning equipment. The company's products are used for industrial, construction, and agricultural sectors. It offers its products under the Desa, Construsim, Simes, Agrifast, and Salki brand names.
Desarrollos Especiales de Sistemas de Anclaje, S.A. was founded in 1950 and is based in Barcelona, Spain.
Stock analysis
Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA) currently trades at €21.60, while our model-based Fair Value estimate is €16.06, 26% 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 €36.87 per share, and 6 of the 15 models we run sit above the €21.60 price.
Bear case: the Asset-Based group reads lowest at €3.23, and 9 of the 15 models stay below the price. Data coverage for this calculation is high.
Scenario range: €13.40 (bear) to €20.94 (bull), the price of €21.60 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 63/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Desarrollos Especiales de Sistemas de Anclaje, S.A. reported revenue of €49.0M in FY2025 versus €48.1M in FY2021, a compound +0.4%/yr. Reported net income was €3.9M in FY2025, compounding +0.9%/yr from FY2021.
Key figures
Market cap €38.4M Micro · P/E ratio 9.9 · P/S ratio 0.76 · EPS (TTM) €2.19 · Dividend yield 2.6% · Net margin 8.2% · Return on equity 18.4% · Return on assets (EBIT) 9.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 36% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at −26%, DESA screens richer than that median.
Fair Value models
Bear€13.40Fair Value €16.06Bull€20.94
Price €21.60 · Downside -25.6%
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 (€1.48 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.
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.27/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+2.2%
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.
−1.0%
’21
’22
’23
’24
’25
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. Basis: EBIT basis.
≈ +2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.1%
Dividend (yield on the price)2.6%
Profit margin 2021 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.10% → 9%
⚠ Rate on operating basis: 2025 sits 60% above its own trend.
Compare Desarrollos Especiales de Sistemas de Anclaje, S.A. with another stock
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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.Tools & Accessories · 128 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside−25.6% · Below median
Profitability
Return on equity (12 months)18.4% · Top 25%
Return on assets9.0% · Top 25%
Net margin (12 months)8.2% · Above median
Operating margin (12 months)9.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)13.7% · Above median
Dividend yield (12 months)2.6% · Above median
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Tools & Accessories median · lower = cheaper
P/E (12 months)9.9× · Cheapest 25%
P/B1.71× · Pricier than median
P/S (12 months)0.76× · Cheaper than median
EV/EBITDA7.2× · Cheaper than median
PEG112.12× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)69· sector 58
PAST (return on equity)74· sector 31
HEALTH (low debt)98· sector 96
DIVIDEND (yield)52· sector 41
VALUE 0: the price sits above our fair-value range.
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). "Desarrollos Especiales de Sistemas de Anclaje, S.A. Fair Value". https://www.fairvalue-calculator.com/stock/DESA.MC
Frequently asked questions
Is Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of €16.06 versus a price of €21.60, about 26% lower (overvalued).
What is the fair value of DESA?
Our model-based fair value for Desarrollos Especiales de Sistemas de Anclaje, S.A. is €16.06 (as of Nov 9, 2026), built from audited fundamentals. The current price: €21.60.
What is the quality score of DESA?
Desarrollos Especiales de Sistemas de Anclaje, S.A. has a Quality Score of 63/100. 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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
Our model-based price target is the fair value of €16.06 (as of Nov 9, 2026) from 15 valuation models. Cautious scenario €13.40, optimistic scenario €20.94. It is a calculation from audited fundamentals, not an analyst target.
What is the Desarrollos Especiales de Sistemas de Anclaje, S.A. stock forecast for 2026?
Our models put fair value at €16.06, about 26% lower versus a price of €21.60 (overvalued). Cautious scenario €13.40, optimistic scenario €20.94. The calculation is refreshed regularly with new filings.
What is the revenue of Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
Desarrollos Especiales de Sistemas de Anclaje, S.A. reported trailing-twelve-month revenue of about €50.3M (latest available figure, as of Nov 9, 2026).
Does Desarrollos Especiales de Sistemas de Anclaje, S.A. pay a dividend?
Desarrollos Especiales de Sistemas de Anclaje, S.A. currently shows a dividend yield of 2.60% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA) and when is the ex-dividend date?
Desarrollos Especiales de Sistemas de Anclaje, S.A. pays a dividend of €0.562 per share a year, a dividend yield of 2.6%. The last ex-dividend date was Oct 28, 2026. A dividend has been paid every year since 2021. The payout ratio is 24.5% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Desarrollos Especiales de Sistemas de Anclaje, S.A. it is €16.06 per share (as of Nov 9, 2026), against a price of €21.60. It is the blended result of 15 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Desarrollos Especiales de Sistemas de Anclaje, S.A. stock overvalued or undervalued in 2026?
As of Nov 9, 2026, DESA trades above its calculated fair value: price €21.60, fair value €16.06, a gap of about −26% (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 DESA?
No. The price is what the market pays today (€21.60); the fair value is what the company's own numbers justify (€16.06). For Desarrollos Especiales de Sistemas de Anclaje, S.A. the two are €5.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Desarrollos Especiales de Sistemas de Anclaje, S.A. worth?
The market values Desarrollos Especiales de Sistemas de Anclaje, S.A. at about €38.4M (market capitalisation, as of Nov 9, 2026). Per share that is €21.60; our models calculate a fair value of €16.06 per share.
What do the bullish and bearish scenarios say about DESA?
Our models span a range for Desarrollos Especiales de Sistemas de Anclaje, S.A.: cautious scenario €13.40, base €16.06, optimistic €20.94 per share (as of Nov 9, 2026, price €21.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DESA?
Desarrollos Especiales de Sistemas de Anclaje, S.A. trades at a price-to-earnings ratio of 9.9 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €16.06 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2025 ex one-offs: 9.6. Other multiples: PEG 112.1, P/B 1.7, P/S 0.8, EV/EBITDA 7.2.
What is the PEG ratio of DESA?
The PEG ratio of Desarrollos Especiales de Sistemas de Anclaje, S.A. is 112.12 (P/E divided by earnings growth, as of Nov 9, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
Balance-sheet figures for Desarrollos Especiales de Sistemas de Anclaje, S.A. (as of Nov 9, 2026): return on equity 18.4%, debt of 0.03 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is DESA from its 52-week high?
Desarrollos Especiales de Sistemas de Anclaje, S.A. trades at €21.60, about 17% below its 52-week high of €26.07 and 36% above the low of €15.93 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €16.06 is for.
Which stocks are comparable to Desarrollos Especiales de Sistemas de Anclaje, S.A.?
From the same area (Industrials) we also value Techtronic Industries Company, Snap-on Incorporated, Stanley Black & Decker, Inc, Lincoln Electric Holdings, 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 Desarrollos Especiales de Sistemas de Anclaje, S.A. stock attractive at the current price?
The data as of Nov 9, 2026: price €21.60, calculated fair value €16.06 (−26%), Quality Score 63/100, from 15 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 DESA calculated?
We run Desarrollos Especiales de Sistemas de Anclaje, S.A. through 15 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €16.06 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 13.3% above its aggregate fair value. Desarrollos Especiales de Sistemas de Anclaje, 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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
The closing price on Nov 6, 2026 was €21.60. Our model-based fair value is €16.06, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Desarrollos Especiales de Sistemas de Anclaje, S.A. right now?
The price sits above even our optimistic bull case (€20.94). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Desarrollos Especiales de Sistemas de Anclaje, S.A.
How large is the market capitalisation of Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
The market capitalisation of Desarrollos Especiales de Sistemas de Anclaje, S.A. is €38.4M. 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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
The price-to-sales ratio of Desarrollos Especiales de Sistemas de Anclaje, S.A. is 0.76 (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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
Earnings per share at Desarrollos Especiales de Sistemas de Anclaje, S.A. are €2.19 (price ÷ EPS = P/E 9.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
The dividend yield of Desarrollos Especiales de Sistemas de Anclaje, S.A. is 2.6% (payout 25.7%). 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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
The net margin of Desarrollos Especiales de Sistemas de Anclaje, S.A. is 8.2% (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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
The return on equity (ROE) of Desarrollos Especiales de Sistemas de Anclaje, S.A. is 18.4% (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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
On an EBIT basis the return on assets of Desarrollos Especiales de Sistemas de Anclaje, S.A. is 9.3% (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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
The operating margin of Desarrollos Especiales de Sistemas de Anclaje, S.A. is 9.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
Revenue at Desarrollos Especiales de Sistemas de Anclaje, S.A. is growing +13.7% versus a year earlier (3y avg −1.0%). 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 Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA)?
Earnings per share at Desarrollos Especiales de Sistemas de Anclaje, S.A. are growing +17.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA) generate?
The free cash flow of Desarrollos Especiales de Sistemas de Anclaje, S.A. is −€151K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Desarrollos Especiales de Sistemas de Anclaje, S.A. (DESA) carry?
The net debt of Desarrollos Especiales de Sistemas de Anclaje, S.A. is €7.1M (fiscal year 2025). 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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Broad data
Nov 9, 2026