Carmila (0QAP) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Carmila €17.95, price €14.48, upside +24.0%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range €8.16 – €17.16 · fair‑value band €6.52 – €20.03 · the €14.48 price screens below the €17.95 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Carmila S.A. is a leading European commercial real estate company, with 250 shopping centres across France, Spain and Italy. As of December 31, 2025, Carmila's portfolio was valued at 6.7 billion euros. Welcoming over 600 million visitors each year, Carmila creates local life hubs, vibrant places that are essential to everyday life.
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Carmila S.A. is a leading European commercial real estate company, with 250 shopping centres across France, Spain and Italy. As of December 31, 2025, Carmila's portfolio was valued at 6.7 billion euros. Welcoming over 600 million visitors each year, Carmila creates local life hubs, vibrant places that are essential to everyday life. Anchored by Carrefour hypermarkets, these centres act as catalysts for local commerce by integrating shopping, healthcare services, events, dining and leisure. Carmila is listed on Euronext Paris, Compartment A, under the ticker symbol CARM and benefits from the French listed real estate investment trust regime. The Group is a member of SBF 120 and CAC Mid 60 indices. Carmila S.A. was established on March 6, 1991 and incorporated in France.
Stock analysis
Carmila (0QAP) currently trades at €14.48, while our model-based Fair Value estimate is €17.95, implying the stock looks roughly 19.3% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €15.44 per share, and 3 of the 6 models we run sit above the €14.48 price.
Bear case: the DCF Models group reads lowest at €2.31, and 3 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: €6.52 (bear) to €20.03 (bull), the price of €14.48 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 53/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Carmila reported revenue of €429M in FY2020 versus €276M in FY2016, a compound +11.7%/yr. Reported net income was −€199M in FY2020.
Key figures
Market cap €2.1B · P/S ratio 3.71 · Net margin −46.3% · Return on equity 5.5% · Return on assets (EBIT) 2.9% · Operating margin 64.3% · Revenue (TTM) €566M · Revenue growth (YoY) −1.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 16% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −40% fair-value upside, at 24%, 0QAP screens cheaper than that median.
Fair Value models
Bear €6.52Fair Value €17.95Bull €20.03
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+12.6%
’16
’17
’18
’19
’20
Profit margin (trend) ⓘ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.
136.5% (2016) → −28.6% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Retail REITs” was too small, so the broader sector is used.)Industrials · 5328 stocks
Beats the sector median on 6/12 measures
A mixed picture versus its sector peers.
Valuation
Quality Score58 · Above median
Fair Value upside+24.0% · Above median
Profitability
Return on equity (TTM)5.5% · Below median
Return on assets3.2% · Above median
Net margin (TTM)32.7% · Top 25%
Operating margin (TTM)64.3% · Top 25%
Growth and dividend
Revenue growth−1.4% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.74× · Highest 25%
Valuation Multiplesvs Industrials 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). "Carmila Fair Value". https://www.fairvalue-calculator.com/stock/0QAP
Frequently asked questions
Is Carmila (0QAP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €17.95 versus a price of €14.48, about +24% upside (undervalued).
What is the fair value of 0QAP?
Our model-based fair value for Carmila is €17.95 (as of Sep 24, 2026), built from audited fundamentals. The current price: €14.48.
What is the quality score of 0QAP?
Carmila has a Quality Score of 53/100. 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 Carmila (0QAP)?
Our model-based price target is the fair value of €17.95 (as of Sep 24, 2026) from 8 valuation models. Cautious scenario €6.52, optimistic scenario €20.03. It is a calculation from audited fundamentals, not an analyst target.
What is the Carmila stock forecast for 2026?
Our models put fair value at €17.95, about +24% upside versus a price of €14.48 (undervalued). Cautious scenario €6.52, optimistic scenario €20.03. The calculation is refreshed regularly with new filings.
What is the revenue of Carmila (0QAP)?
Carmila reported trailing-twelve-month revenue of about €566M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Carmila (0QAP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Carmila it is €17.95 per share (as of Sep 24, 2026), against a price of €14.48. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Carmila stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0QAP trades below its calculated fair value: price €14.48, fair value €17.95, a gap of about +24% (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 0QAP?
No. The price is what the market pays today (€14.48); the fair value is what the company's own numbers justify (€17.95). For Carmila the two are €3.47 per share apart. That gap is exactly why we show both numbers side by side.
How much is Carmila worth?
The market values Carmila at about €2.1B (market capitalisation, as of Sep 24, 2026). Per share that is €14.48; our models calculate a fair value of €17.95 per share.
What do the bullish and bearish scenarios say about 0QAP?
Our models span a range for Carmila: cautious scenario €6.52, base €17.95, optimistic €20.03 per share (as of Sep 24, 2026, price €14.48). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Carmila (0QAP)?
Balance-sheet figures for Carmila (as of Sep 24, 2026): return on equity 5.5%, debt of 0.74 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 0QAP from its 52-week high?
Carmila trades at €14.48, about 16% below its 52-week high of €17.14 and 1% above the low of €14.40 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €17.95 is for.
Which stocks are comparable to Carmila?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, Larsen & Toubro Limited, Samsung C&T Corporation, 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 Carmila stock attractive at the current price?
The data as of Sep 24, 2026: price €14.48, calculated fair value €17.95 (+24%), Quality Score 53/100, from 8 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 0QAP calculated?
We run Carmila through 8 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €17.95, 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 14.5 % above its aggregate fair value. Carmila currently trades 19 % 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 Carmila (0QAP)?
The closing price on Oct 2, 2026 was €14.48. Our model-based fair value is €17.95, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Carmila right now?
The model range is unusually wide (€6.52 to €20.03). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Carmila
How large is the market capitalisation of Carmila (0QAP)?
The market capitalisation of Carmila is €2.1B. 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 Carmila (0QAP)?
The price-to-sales ratio of Carmila is 3.71 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Carmila (0QAP)?
The net margin of Carmila is −46.3% (fiscal year 2020). 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 Carmila (0QAP)?
The return on equity (ROE) of Carmila is 5.5% (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 Carmila (0QAP)?
On an EBIT basis the return on assets of Carmila is 2.9% (avg 4y). 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 Carmila (0QAP)?
The operating margin of Carmila is 64.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Carmila (0QAP)?
Revenue at Carmila is growing −1.4% versus a year earlier (3y avg +12.6%). 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 Carmila (0QAP)?
Earnings per share at Carmila are growing −72.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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