Nexans S.A. (NEX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nexans S.A. stock €141, price €124, upside +14.2%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 24 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 8, 2026.
How to read this chart
60‑month range €60.10 – €164.88 · fair‑value band €107.51 – €191.14 · the €123.50 price screens below the €141.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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Nexans S.A. manufactures and sells cables in France, Canada, Norway, Italy, and internationally. It operates through PWR-Grid & Connect, PWR-Transmission, and Other segments. The company provides cables for the energy distribution networks, as well as equipment cables for buildings.
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It also offers design, engineering, financing, asset management, and systems management solutions for offshore wind farms, subsea interconnections, onshore high voltage, and subsea data transmissions; and smart solutions for the oil and gas sector.
In addition, the company offers wire rods and electrical wires; and engages in winding wire production operations. The company was formerly known as Atalec and changed its name to Nexans S.A. in October 2000. The company was incorporated in 1994 and is headquartered in Courbevoie, France.
Stock analysis
Nexans S.A. (NEX) currently trades at €123.50, while our model-based Fair Value estimate is €141.02, implying the stock looks roughly 12% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €148.50 per share, and 15 of the 24 models we run sit above the €123.50 price.
Bear case: the Asset-Based group reads lowest at €15.82, and 9 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €107.51 (bear) to €191.14 (bull), the price of €123.50 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 52/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2013: revenue and profit before it include the divested business. Growth is measured afresh from 2013.
Nexans S.A. reported revenue of €7.8B in FY2025 versus €7.4B in FY2021, a compound +1.4%/yr. Reported net income was €352M in FY2025, compounding +21.0%/yr from FY2021.
Key figures
Market cap €5.5B Mid · P/S ratio 0.58 · EPS (TTM) €−0.9000 · Dividend yield 2.3% · Net margin 1.0% · Return on equity 9.8% · Return on assets (EBIT) 6.2% (5-year average) · Operating margin 6.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 14%, NEX screens cheaper than that median.
Fair Value models
Bear€107.51Fair Value €141.02Bull€191.14
Price €123.50 · Upside +14.2%
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.55/100
Spin-off in 2013: revenue and profit before it include the divested business. Growth is measured afresh from 2013.
Revenue growth 1 year
−8.6%
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.
−2.3%
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.
+5.5%
Start year 2020 (pandemic). Over 10 years: +2.3% a year
Revenue growth 12 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.
+1.3%
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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. Basis: EBIT basis.
+13.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.6%
Dividend (yield on the price)2.3%
Per share before 2013divided by the spin-off factor 1.1203
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.24.1% vs 19.1%, picking up
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% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+1.4%
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.
+2.6%
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 −0.7% a year for the price and +0.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 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: The business benefits from internal leadership continuity and expanded European grid cable capacity for renewables, yet thin margins and absent moat evidence limit overall quality.
Main risk: Chinese manufacturers could supply equivalent standard XLPE and medium-voltage cables at lower cost and capture market share or force Nexans to cut prices and margins in competitive low- and medium-voltage segments.
Bull case: Nexans could leverage its high-voltage expertise, long-term utility contracts and internal AI-driven efficiency gains to win more complex renewable and data-centre projects while shifting toward higher-margin differentiated solutions.
Bear case: Intensified price pressure from Asian rivals combined with lost or delayed flagship projects could erode margins, strand capacity investments and limit Nexans' ability to fund further grid-cable expansions amid steady electrification demand.
Nexans has appointed an internal veteran as new CEO while completing a major high-voltage tower expansion at its Belgian plant to boost production of advanced grid cables. This builds capacity for renewable integration projects across Europe. Will steady execution under familiar leadership unlock the full value of these investments or highlight limits in scaling amid evolving energy demands?
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.Electrical Equipment & Parts · 564 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+14.2% · Top 25%
Profitability
Return on equity (12 months)9.8% · Above median
Return on assets4.4% · Above median
Net margin (12 months)1.0% · Below median
Operating margin (12 months)6.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)19.1% · Above median
Dividend yield (12 months)2.3% · Above median
Balance sheet
Debt / equity0.79× · Highest 25%
Valuation Multiplesvs Electrical Equipment & Parts 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). "Nexans S.A. Fair Value". https://www.fairvalue-calculator.com/stock/NEX
Frequently asked questions
Is Nexans S.A. (NEX) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of €141.02 versus a price of €123.50, about +14% upside (undervalued).
What is the fair value of NEX?
Our model-based fair value for Nexans S.A. is €141.02 (as of Nov 8, 2026), built from audited fundamentals. The current price: €123.50.
What is the quality score of NEX?
Nexans S.A. has a Quality Score of 52/100. 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 Nexans S.A. (NEX)?
Our model-based price target is the fair value of €141.02 (as of Nov 8, 2026) from 24 valuation models. Cautious scenario €107.51, optimistic scenario €191.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Nexans S.A. stock forecast for 2026?
Our models put fair value at €141.02, about +14% upside versus a price of €123.50 (undervalued). Cautious scenario €107.51, optimistic scenario €191.14. The calculation is refreshed regularly with new filings.
What is the revenue of Nexans S.A. (NEX)?
Nexans S.A. reported trailing-twelve-month revenue of about €8.6B (latest available figure, as of Nov 8, 2026).
Does Nexans S.A. pay a dividend?
Nexans S.A. currently shows a dividend yield of 2.35% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Nexans S.A. (NEX) and when is the ex-dividend date?
Nexans S.A. pays a dividend of €2.90 per share a year, a dividend yield of 2.3%. The last ex-dividend date was May 25, 2026. A dividend has been paid every year since 2021. The payout ratio is 35.9% of earnings. Free cash flow covers the dividend 3.67 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 Nexans S.A. (NEX)?
For today's price to be fair in a discounted-cash-flow model, Nexans S.A. would have to grow free cash flow by +1.4 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of NEX use?
Our models discount Nexans S.A. at 10.1 %: a base by market capitalisation (mid), damped by beta 0.95, 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 Nexans S.A. that is +1.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Nexans S.A. (NEX) delivered so far?
Over the past 5 years revenue at Nexans S.A. grew +5.5 % a year. The price currently implies free-cash-flow growth of +1.4 % 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 Nexans S.A. (NEX) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Nexans S.A. (+1.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nexans S.A. (NEX)?
The free-cash-flow yield on the price is 8.39 %: that much free cash flow Nexans S.A. produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nexans S.A. (NEX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nexans S.A. it is €141.02 per share (as of Nov 8, 2026), against a price of €123.50. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Nexans S.A. stock overvalued or undervalued in 2026?
As of Nov 8, 2026, NEX trades below its calculated fair value: price €123.50, fair value €141.02, 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 NEX?
No. The price is what the market pays today (€123.50); the fair value is what the company's own numbers justify (€141.02). For Nexans S.A. the two are €17.52 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nexans S.A. worth?
The market values Nexans S.A. at about €5.5B (market capitalisation, as of Nov 8, 2026). Per share that is €123.50; our models calculate a fair value of €141.02 per share.
What do the bullish and bearish scenarios say about NEX?
Our models span a range for Nexans S.A.: cautious scenario €107.51, base €141.02, optimistic €191.14 per share (as of Nov 8, 2026, price €123.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of NEX?
The PEG ratio of Nexans S.A. is 0.41 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Nexans S.A. (NEX)?
Balance-sheet figures for Nexans S.A. (as of Nov 8, 2026): return on equity 9.8%, debt of 0.79 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is NEX from its 52-week high?
Nexans S.A. trades at €123.50, about 25% below its 52-week high of €164.88 and 12% above the low of €110.58 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €141.02 is for.
Which stocks are comparable to Nexans S.A.?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public 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 Nexans S.A. stock attractive at the current price?
The data as of Nov 8, 2026: price €123.50, calculated fair value €141.02 (+14%), Quality Score 52/100, 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 NEX calculated?
We run Nexans S.A. through 24 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 €141.02 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. Nexans S.A. 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 Nexans S.A. (NEX)?
The closing price on Nov 6, 2026 was €123.50. Our model-based fair value is €141.02, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nexans S.A. 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 Nexans S.A.
How large is the market capitalisation of Nexans S.A. (NEX)?
The market capitalisation of Nexans S.A. is €5.5B. 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 Nexans S.A. (NEX)?
The price-to-sales ratio of Nexans S.A. is 0.58 (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 Nexans S.A. (NEX)?
Earnings per share at Nexans S.A. are €−0.9000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nexans S.A. (NEX)?
The dividend yield of Nexans S.A. is 2.3%. 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 Nexans S.A. (NEX)?
The net margin of Nexans S.A. is 1.0% (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 Nexans S.A. (NEX)?
The return on equity (ROE) of Nexans S.A. is 9.8% (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 Nexans S.A. (NEX)?
On an EBIT basis the return on assets of Nexans S.A. is 6.2% (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 Nexans S.A. (NEX)?
The operating margin of Nexans S.A. is 6.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nexans S.A. (NEX)?
Revenue at Nexans S.A. is growing +19.1% versus a year earlier (3y avg −2.3%). 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 Nexans S.A. (NEX)?
Earnings per share at Nexans S.A. are growing −72.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Nexans S.A. (NEX) carry?
The net debt of Nexans S.A. is €266M (fiscal year 2025, ≈ 0.6 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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Some data
Nov 8, 2026