Inmocemento, S.A. (IMC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Inmocemento, S.A. stock €4.63, price €3.68, upside +25.9%, quality 60 out of 100. Rating: undervalued. 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 7, 2026.
How to read this chart
24‑month range €2.65 – €4.03 · fair‑value band €3.17 – €6.40 · the €3.68 price screens below the €4.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Inmocemento, S.A., through its subsidiaries, engages in the cement and real estate businesses in Spain and internationally. The company manufactures and markets cement and its derivatives, such as concrete, aggregates, and mortar.
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It is also involved in the leasing and management of office buildings, commercial and leisure premises, and shopping centres; and development and operation of projects for rental housing and residential use.
In addition, the company engages in the acquisition, development, and marketing of real estate primarily for residential housing; and urban development management of land. Inmocemento, S.A. was incorporated in 2024 and is based in Barcelona, Spain.
Stock analysis
Inmocemento, S.A. (IMC) currently trades at €3.68, while our model-based Fair Value estimate is €4.63, implying the stock looks roughly 21% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €10.90 per share, and 21 of the 26 models we run sit above the €3.68 price.
Bear case: the Asset-Based group reads lowest at €3.58, and 5 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €3.17 (bear) to €6.40 (bull), the price of €3.68 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 60/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Inmocemento, S.A. reported revenue of €967M in FY2025 versus €590M in FY2021, a compound +13.2%/yr. Reported net income was €347M in FY2025, compounding +27.5%/yr from FY2021.
Key figures
Market cap €1.7B Small · P/E ratio 6.3 · P/S ratio 1.61 · EPS (TTM) €0.5800 · Dividend yield 0.3% · Net margin 25.6% · Return on equity 9.5% · Return on assets (EBIT) 4.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 71 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at 26%, IMC screens cheaper than that median.
Fair Value models
Bear€3.17Fair Value €4.63Bull€6.40
Price €3.68 · Upside +25.9%
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 (€0.4974 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€5.25€7.85€11.3077
Growth DCF€5.21€7.56€10.5175
EPV€3.59€4.05€4.4374
All 26 models by family
DCF Models
FCF DCF€5.25€7.85€11.3077
Owner Earnings€6.96€10.37€14.8773
5Y Revenue Exit€3.26€4.75€6.5970
5Y EBITDA Exit€4.73€7.61€11.0072
5Y P/E Exit€7.01€12.04€17.5067
10Y Revenue Exit€4.01€5.51€7.4565
10Y EBITDA Exit€4.88€7.24€10.4265
10Y P/E Exit€6.14€9.92€14.8160
Earnings-Based
Graham-Dodd€5.18€19.40€26.2361
Lynch FV€4.68€6.68€8.6858
PEG = 1.0€4.68€6.68€8.6855
EPV€3.59€4.05€4.4374
Dividend Discount
Gordon GGM€0.0800€0.1300€0.170066
DDM Multi-Stage€0.0800€0.1200€0.140065
Multiples
P/E Multiple€9.72€12.96€16.2063
P/S Multiple€2.39€3.19€3.9958
P/B Multiple€12.01€16.02€20.0255
EV/EBIT€5.51€7.70€9.8966
EV/EBITDA€4.20€5.95€7.7067
EV/Revenue€1.17€2.12€3.0852
Asset-Based
NCAV (Graham)€2.67€3.58€5.3454
Growth DCF
Growth DCF€5.21€7.56€10.5175
Rev-Margin DCF€3.26€4.83€6.7570
Economic Profit
Residual Income€4.93€5.53€7.1573
ROIC Compounder€3.59€4.05€4.4369
Growth Earnings
Growth-Adj P/E€7.63€10.90€14.1765
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.78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.4%
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.
+6.8%
’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.
−76.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−76.6%
Dividend (yield on the price)0.3%
Profit margin 2022 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.−5% → 29%
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).
−1.8%
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 (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −3.9% a year for the price.
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.Building Materials · 257 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+25.9% · Above median
Profitability
Return on equity (12 months)9.5% · Above median
Return on assets7.4% · Top 25%
Net margin (12 months)25.6% · Top 25%
Operating margin (12 months)29.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)15.6% · Above median
Dividend yield (12 months)0.3% · Bottom 25%
Balance sheet
Debt / equity0.16× · Above median
Valuation Multiplesvs Building Materials 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). "Inmocemento, S.A. Fair Value". https://www.fairvalue-calculator.com/stock/IMC
Frequently asked questions
Is Inmocemento, S.A. (IMC) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €4.63 versus a price of €3.68, about +26% upside (undervalued).
What is the fair value of IMC?
Our model-based fair value for Inmocemento, S.A. is €4.63 (as of Nov 7, 2026), built from audited fundamentals. The current price: €3.68.
What is the quality score of IMC?
Inmocemento, S.A. has a Quality Score of 60/100. 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 Inmocemento, S.A. (IMC)?
Our model-based price target is the fair value of €4.63 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario €3.17, optimistic scenario €6.40. It is a calculation from audited fundamentals, not an analyst target.
What is the Inmocemento, S.A. stock forecast for 2026?
Our models put fair value at €4.63, about +26% upside versus a price of €3.68 (undervalued). Cautious scenario €3.17, optimistic scenario €6.40. The calculation is refreshed regularly with new filings.
What is the revenue of Inmocemento, S.A. (IMC)?
Inmocemento, S.A. reported trailing-twelve-month revenue of about €1.0B (latest available figure, as of Nov 7, 2026).
Does Inmocemento, S.A. pay a dividend?
Inmocemento, S.A. currently shows a dividend yield of 0.31% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Inmocemento, S.A. (IMC)?
Inmocemento, S.A. has a dividend yield of 0.3%.
What growth is priced into Inmocemento, S.A. (IMC)?
For today's price to be fair in a discounted-cash-flow model, Inmocemento, S.A. would have to grow free cash flow by -1.8 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +13.2 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of IMC use?
Our models discount Inmocemento, S.A. at 12.6 %: a base by market capitalisation (small), country premium for Spain. 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 Inmocemento, S.A. that is -1.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has Inmocemento, S.A. (IMC) delivered so far?
Over the past 4 years revenue at Inmocemento, S.A. grew +13.2 % a year. The price currently implies free-cash-flow growth of -1.8 % 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 Inmocemento, S.A. (IMC) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Inmocemento, S.A. (-1.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Inmocemento, S.A. (IMC)?
The free-cash-flow yield on the price is 15.87 %: that much free cash flow Inmocemento, S.A. produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Inmocemento, S.A. (IMC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Inmocemento, S.A. it is €4.63 per share (as of Nov 7, 2026), against a price of €3.68. 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 Inmocemento, S.A. stock overvalued or undervalued in 2026?
As of Nov 7, 2026, IMC trades below its calculated fair value: price €3.68, fair value €4.63, a gap of about +26% (undervalued). 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 IMC?
No. The price is what the market pays today (€3.68); the fair value is what the company's own numbers justify (€4.63). For Inmocemento, S.A. the two are €0.9539 per share apart. That gap is exactly why we show both numbers side by side.
How much is Inmocemento, S.A. worth?
The market values Inmocemento, S.A. at about €1.7B (market capitalisation, as of Nov 7, 2026). Per share that is €3.68; our models calculate a fair value of €4.63 per share.
What do the bullish and bearish scenarios say about IMC?
Our models span a range for Inmocemento, S.A.: cautious scenario €3.17, base €4.63, optimistic €6.40 per share (as of Nov 7, 2026, price €3.68). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IMC?
Inmocemento, S.A. trades at a price-to-earnings ratio of 6.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €4.63 is built from several models across several years. Other multiples: P/B 0.7, P/S 1.6, EV/EBITDA 5.6.
How solid is the balance sheet of Inmocemento, S.A. (IMC)?
Balance-sheet figures for Inmocemento, S.A. (as of Nov 7, 2026): return on equity 9.5%, debt of 0.16 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is IMC from its 52-week high?
Inmocemento, S.A. trades at €3.68, about 9% below its 52-week high of €4.03 and 13% above the low of €3.25 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €4.63 is for.
Which stocks are comparable to Inmocemento, S.A.?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 Inmocemento, S.A. stock attractive at the current price?
The data as of Nov 7, 2026: price €3.68, calculated fair value €4.63 (+26%), Quality Score 60/100, 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 IMC calculated?
We run Inmocemento, S.A. 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 €4.63 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. Inmocemento, S.A. currently trades 21% below its own fair value, and the market average says nothing about that. 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 Inmocemento, S.A. (IMC)?
The closing price on Nov 6, 2026 was €3.68. Our model-based fair value is €4.63, about +26% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Inmocemento, S.A. right now?
Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€3.17 to €6.40) leaves room in how you read the outcome.
Key figures of Inmocemento, S.A.
How large is the market capitalisation of Inmocemento, S.A. (IMC)?
The market capitalisation of Inmocemento, S.A. is €1.7B. 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 Inmocemento, S.A. (IMC)?
The price-to-sales ratio of Inmocemento, S.A. is 1.61 (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 Inmocemento, S.A. (IMC)?
Earnings per share at Inmocemento, S.A. are €0.5800 (price ÷ EPS = P/E 6.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Inmocemento, S.A. (IMC)?
The dividend yield of Inmocemento, S.A. is 0.3% (payout 2.0%). 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 Inmocemento, S.A. (IMC)?
The net margin of Inmocemento, S.A. is 25.6% (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 Inmocemento, S.A. (IMC)?
The return on equity (ROE) of Inmocemento, S.A. is 9.5% (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 Inmocemento, S.A. (IMC)?
On an EBIT basis the return on assets of Inmocemento, S.A. is 4.1% (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 Inmocemento, S.A. (IMC)?
The operating margin of Inmocemento, S.A. is 29.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Inmocemento, S.A. (IMC)?
Revenue at Inmocemento, S.A. is growing +15.6% versus a year earlier (3y avg +6.8%). 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 Inmocemento, S.A. (IMC)?
Earnings per share at Inmocemento, S.A. are growing −35.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Inmocemento, S.A. (IMC) carry?
The net debt of Inmocemento, S.A. is €485M (fiscal year 2025, ≈ 1.8 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 7, 2026