Compagnie des Eaux de Royan (MLEDR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Compagnie des Eaux de Royan stock €41.64, price €36.60, upside +13.8%, quality 65 out of 100. Rating: undervalued. Calculated from audited financials with 18 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 4, 2026.
How to read this chart
60‑month range €31.40 – €124.05 · fair‑value band €31.23 – €52.05 · the €36.60 price screens below the €41.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Compagnie des Eaux de Royan engages in the drinkable water and related services in France. The company also offers waste water sanitation services. The company is based in Vaux-sur-Mer, France.
Stock analysis
Compagnie des Eaux de Royan (MLEDR) currently trades at €36.60, while our model-based Fair Value estimate is €41.64, implying the stock looks roughly 12% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €71.65 per share, and 11 of the 18 models we run sit above the €36.60 price.
Bear case: the Asset-Based group reads lowest at €14.79, and 7 of the 18 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €31.23 (bear) to €52.05 (bull), the price of €36.60 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 Utilities sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Compagnie des Eaux de Royan reported revenue of €7.6M in FY2025 versus €22.3M in FY2021, a compound −23.6%/yr. Reported net income was €439K in FY2025, compounding −21.3%/yr from FY2021.
Key figures
Market cap €6.6M Micro · P/E ratio 14.9 · P/S ratio 0.80 · EPS (TTM) €2.45 · Net margin 5.4% · Return on equity 12.6% · Return on assets (EBIT) 1.3% (5-year average) · Operating margin −2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −43% fair-value upside, at 14%, MLEDR screens cheaper than that median.
Fair Value models
Bear€31.23Fair Value €41.64Bull€52.05
Price €36.60 · Upside +13.8%
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 (€2.10 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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
−17.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.4%
Dividend (yield on the price)0.0%
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.−17.4% vs −12.8%, slowing
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.4% → −4%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 12.4%/yr over ~10Y (margins eroding too) ⓘ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 more 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).
−10.4%
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 −12.3% a year for the price.
Compare Compagnie des Eaux de Royan 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.Utilities - Regulated Water · 64 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+13.8% · Above median
Profitability
Return on equity (12 months)12.6% · Top 25%
Return on assets5.9% · Top 25%
Net margin (12 months)5.4% · Below median
Operating margin (12 months)−2.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)0.0% · Below median
Valuation Multiplesvs Utilities - Regulated Water 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). "Compagnie des Eaux de Royan Fair Value". https://www.fairvalue-calculator.com/stock/MLEDR
Frequently asked questions
Is Compagnie des Eaux de Royan (MLEDR) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €41.64 versus a price of €36.60, about +14% upside (undervalued).
What is the fair value of MLEDR?
Our model-based fair value for Compagnie des Eaux de Royan is €41.64 (as of Nov 4, 2026), built from audited fundamentals. The current price: €36.60.
What is the quality score of MLEDR?
Compagnie des Eaux de Royan 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 Compagnie des Eaux de Royan (MLEDR)?
Our model-based price target is the fair value of €41.64 (as of Nov 4, 2026) from 18 valuation models. Cautious scenario €31.23, optimistic scenario €52.05. It is a calculation from audited fundamentals, not an analyst target.
What is the Compagnie des Eaux de Royan stock forecast for 2026?
Our models put fair value at €41.64, about +14% upside versus a price of €36.60 (undervalued). Cautious scenario €31.23, optimistic scenario €52.05. The calculation is refreshed regularly with new filings.
What is the revenue of Compagnie des Eaux de Royan (MLEDR)?
Compagnie des Eaux de Royan reported trailing-twelve-month revenue of about €8.2M (latest available figure, as of Nov 4, 2026).
What growth is priced into Compagnie des Eaux de Royan (MLEDR)?
For today's price to be fair in a discounted-cash-flow model, Compagnie des Eaux de Royan would have to grow free cash flow by -10.4 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -21.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of MLEDR use?
Our models discount Compagnie des Eaux de Royan at 9.0 %: a base by market capitalisation (nano), damped by beta 0.06, 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 Compagnie des Eaux de Royan that is -10.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Compagnie des Eaux de Royan (MLEDR) delivered so far?
Over the past 5 years revenue at Compagnie des Eaux de Royan grew -21.5 % a year. The price currently implies free-cash-flow growth of -10.4 % 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 Compagnie des Eaux de Royan (MLEDR) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into Compagnie des Eaux de Royan (-10.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Compagnie des Eaux de Royan (MLEDR)?
The free-cash-flow yield on the price is 13.85 %: that much free cash flow Compagnie des Eaux de Royan produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Compagnie des Eaux de Royan (MLEDR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Compagnie des Eaux de Royan it is €41.64 per share (as of Nov 4, 2026), against a price of €36.60. It is the blended result of 18 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Compagnie des Eaux de Royan stock overvalued or undervalued in 2026?
As of Nov 4, 2026, MLEDR trades below its calculated fair value: price €36.60, fair value €41.64, a gap of about +14% (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 MLEDR?
No. The price is what the market pays today (€36.60); the fair value is what the company's own numbers justify (€41.64). For Compagnie des Eaux de Royan the two are €5.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Compagnie des Eaux de Royan worth?
The market values Compagnie des Eaux de Royan at about €6.6M (market capitalisation, as of Nov 4, 2026). Per share that is €36.60; our models calculate a fair value of €41.64 per share.
What do the bullish and bearish scenarios say about MLEDR?
Our models span a range for Compagnie des Eaux de Royan: cautious scenario €31.23, base €41.64, optimistic €52.05 per share (as of Nov 4, 2026, price €36.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MLEDR?
Compagnie des Eaux de Royan trades at a price-to-earnings ratio of 14.9 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €41.64 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 14.5. Other multiples: P/B 1.8, P/S 0.8, EV/EBITDA 71.3.
How solid is the balance sheet of Compagnie des Eaux de Royan (MLEDR)?
Balance-sheet figures for Compagnie des Eaux de Royan (as of Nov 4, 2026): return on equity 12.6%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is MLEDR from its 52-week high?
Compagnie des Eaux de Royan trades at €36.60, about 19% below its 52-week high of €45.00 and 17% above the low of €31.40 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €41.64 is for.
Which stocks are comparable to Compagnie des Eaux de Royan?
From the same area (Utilities) we also value American Water Works Company, Essential Utilities, Inc, Grandblue Environment Co, American States Water 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 Compagnie des Eaux de Royan stock attractive at the current price?
The data as of Nov 4, 2026: price €36.60, calculated fair value €41.64 (+14%), Quality Score 65/100, from 18 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 MLEDR calculated?
We run Compagnie des Eaux de Royan through 18 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €41.64 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. Compagnie des Eaux de Royan currently trades 12% 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 Compagnie des Eaux de Royan (MLEDR)?
The closing price on Nov 6, 2026 was €36.60. Our model-based fair value is €41.64, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Compagnie des Eaux de Royan right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Compagnie des Eaux de Royan
How large is the market capitalisation of Compagnie des Eaux de Royan (MLEDR)?
The market capitalisation of Compagnie des Eaux de Royan is €6.6M. 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 Compagnie des Eaux de Royan (MLEDR)?
The price-to-sales ratio of Compagnie des Eaux de Royan is 0.80 (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 Compagnie des Eaux de Royan (MLEDR)?
Earnings per share at Compagnie des Eaux de Royan are €2.45 (price ÷ EPS = P/E 14.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Compagnie des Eaux de Royan (MLEDR)?
The net margin of Compagnie des Eaux de Royan is 5.4% (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 Compagnie des Eaux de Royan (MLEDR)?
The return on equity (ROE) of Compagnie des Eaux de Royan is 12.6% (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 Compagnie des Eaux de Royan (MLEDR)?
On an EBIT basis the return on assets of Compagnie des Eaux de Royan is 1.3% (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 Compagnie des Eaux de Royan (MLEDR)?
The operating margin of Compagnie des Eaux de Royan is −2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much net cash does Compagnie des Eaux de Royan (MLEDR) hold?
Compagnie des Eaux de Royan holds more cash than debt, €1.3K net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 4, 2026