Aedas Homes SL (AEDAS) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Aedas Homes SL €45.25, price €23.00, upside +96.7%, quality 56 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 23, 2026.
How to read this chart
60‑month range €7.62 – €26.56 · fair‑value band €27.87 – €72.48 · the €23.00 price screens below the €45.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Aedas Homes, S.A. engages in the development of residential properties in Spain. The company focuses on multi and single-family homes; provides real estate services; audiovisual distribution; and decoration and interior design services, as well as develop turnkey build-to-rent properties. It serves individuals and institutional investors.
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Aedas Homes, S.A. engages in the development of residential properties in Spain. The company focuses on multi and single-family homes; provides real estate services; audiovisual distribution; and decoration and interior design services, as well as develop turnkey build-to-rent properties. It serves individuals and institutional investors. The company was incorporated in 2016 and is headquartered in Madrid, Spain. As of December 11, 2025, Aedas Homes, S.A. operates as a subsidiary of Neinor Homes, S.A.
Stock analysis
Aedas Homes SL (AEDAS) currently trades at €23.00, while our model-based Fair Value estimate is €45.25, implying the stock looks roughly 49.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €54.99 per share, and 14 of the 16 models we run sit above the €23.00 price.
Bear case: the Asset-Based group reads lowest at €13.64, and 2 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: €27.87 (bear) to €72.48 (bull), the price of €23.00 sits below 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 56/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Aedas Homes SL reported revenue of €869M in FY2026 versus €766M in FY2022, a compound +3.2%/yr. Reported net income was €60.9M in FY2026, compounding −10.1%/yr from FY2022.
Key figures
Market cap €1.0B · P/E ratio 16.5 · P/S ratio 1.16 · EPS (TTM) €1.39 · Dividend yield 13.9% · Net margin 7.0% · Return on equity 4.4% · Return on assets (EBIT) 7.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 97%, AEDAS screens cheaper than that median.
Fair Value models
Bear €27.87Fair Value €45.25Bull €72.48
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. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (€0.6741 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.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
−24.9%
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.
−1.9%
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.
+5.3%
Start year 2021 (pandemic)
Revenue growth 9 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.
+238.2%
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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.
+9.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.7%
Dividend (yield on the price)13.9%
Profit margin 2021 to 2026 ⓘ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.19% → 11%
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).
+9.9%
Yearly growth needed for the next five years to justify today's price.
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 +7.5% 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.Real Estate - Development · 578 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Top 25%
Fair Value upside+97% · Top 25%
Profitability
Return on equity (TTM)4% · Above median
Return on assets3% · Above median
Net margin (TTM)10% · Above median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth−39% · Bottom 25%
Dividend yield (TTM)13.9% · Top 25%
Balance sheet
Debt / equity0.23× · Below median
Valuation Multiplesvs Real Estate - Development 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). "Aedas Homes SL Fair Value". https://www.fairvalue-calculator.com/stock/AEDAS
Frequently asked questions
Is Aedas Homes SL (AEDAS) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €45.25 versus a price of €23.00, about +97% upside (undervalued).
What is the fair value of AEDAS?
Our model-based fair value for Aedas Homes SL is €45.25 (as of Sep 23, 2026), built from audited fundamentals. The current price: €23.00.
What is the quality score of AEDAS?
Aedas Homes SL has a Quality Score of 56/100. 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 Aedas Homes SL (AEDAS)?
Our model-based price target is the fair value of €45.25 (as of Sep 23, 2026) from 16 valuation models. Cautious scenario €27.87, optimistic scenario €72.48. It is a calculation from audited fundamentals, not an analyst target.
What is the Aedas Homes SL stock forecast for 2026?
Our models put fair value at €45.25, about +97% upside versus a price of €23.00 (undervalued). Cautious scenario €27.87, optimistic scenario €72.48. The calculation is refreshed regularly with new filings.
What is the revenue of Aedas Homes SL (AEDAS)?
Aedas Homes SL reported trailing-twelve-month revenue of about €368M (latest available figure, as of Sep 23, 2026).
Does Aedas Homes SL pay a dividend?
Aedas Homes SL currently shows a dividend yield of about 13.90% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Aedas Homes SL (AEDAS)?
For today's price to be fair in a discounted-cash-flow model, Aedas Homes SL would have to grow free cash flow by +9.9 % per year for five years (discount rate 11.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of AEDAS use?
Our models discount Aedas Homes SL at 11.3 %: a base by market capitalisation (small), damped by beta 0.61, 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 Aedas Homes SL that is +9.9 % per year a year over ten years, using the same discount rate (11.3 %) and the same formula as our fair value.
How much growth has Aedas Homes SL (AEDAS) delivered so far?
Over the past 5 years revenue at Aedas Homes SL grew +5.3 % a year. The price currently implies +9.9 % per year free-cash-flow growth a 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 Aedas Homes SL (AEDAS) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Aedas Homes SL (+9.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aedas Homes SL (AEDAS)?
The free-cash-flow yield on the price is 7.92 %: that much free cash flow Aedas Homes SL produces per unit of market value. When it exceeds the discount rate of our models (11.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aedas Homes SL (AEDAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aedas Homes SL it is €45.25 per share (as of Sep 23, 2026), against a price of €23.00. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Aedas Homes SL stock overvalued or undervalued in 2026?
As of Sep 23, 2026, AEDAS trades below its calculated fair value: price €23.00, fair value €45.25, a gap of about +97% (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 AEDAS?
No. The price is what the market pays today (€23.00); the fair value is what the company's own numbers justify (€45.25). For Aedas Homes SL the two are €22.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aedas Homes SL worth?
The market values Aedas Homes SL at about €1.0B (market capitalisation, as of Sep 23, 2026). Per share that is €23.00; our models calculate a fair value of €45.25 per share.
What do the bullish and bearish scenarios say about AEDAS?
Our models span a range for Aedas Homes SL: cautious scenario €27.87, base €45.25, optimistic €72.48 per share (as of Sep 23, 2026, price €23.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AEDAS?
Aedas Homes SL trades at a price-to-earnings ratio of 16.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €45.25 is built from several models across several years. Other multiples: P/B 1.3, P/S 3.1, EV/EBITDA 15.6.
How solid is the balance sheet of Aedas Homes SL (AEDAS)?
Balance-sheet figures for Aedas Homes SL (as of Sep 23, 2026): return on equity 4.4%, debt of 0.23 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is AEDAS from its 52-week high?
Aedas Homes SL trades at €23.00, about 4% below its 52-week high of €24.05 and 10% above the low of €21.00 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €45.25 is for.
Which stocks are comparable to Aedas Homes SL?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset 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 Aedas Homes SL stock attractive at the current price?
The data as of Sep 23, 2026: price €23.00, calculated fair value €45.25 (+97%), Quality Score 56/100, from 16 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 AEDAS calculated?
We run Aedas Homes SL through 16 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 €45.25, 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 14.1 % above its aggregate fair value. Aedas Homes SL currently trades 97 % 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 Aedas Homes SL (AEDAS)?
The closing price on Sep 23, 2026 was €23.00. Our model-based fair value is €45.25, about +97% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aedas Homes SL right now?
The price is below even our cautious bear case (€27.87). The market is more pessimistic than our downside scenario. The model range is unusually wide (€27.87 to €72.48). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Aedas Homes SL
How large is the market capitalisation of Aedas Homes SL (AEDAS)?
The market capitalisation of Aedas Homes SL is €1.0B. 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 Aedas Homes SL (AEDAS)?
The price-to-sales ratio of Aedas Homes SL is 1.16 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Aedas Homes SL (AEDAS)?
Earnings per share at Aedas Homes SL are €1.39 (price ÷ EPS = P/E 16.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aedas Homes SL (AEDAS)?
The dividend yield of Aedas Homes SL is 13.9%. 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 Aedas Homes SL (AEDAS)?
The net margin of Aedas Homes SL is 7.0% (fiscal year 2026). 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 Aedas Homes SL (AEDAS)?
The return on equity (ROE) of Aedas Homes SL is 4.4% (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 Aedas Homes SL (AEDAS)?
On an EBIT basis the return on assets of Aedas Homes SL is 7.7% (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 Aedas Homes SL (AEDAS)?
The operating margin of Aedas Homes SL is 11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aedas Homes SL (AEDAS)?
Revenue at Aedas Homes SL is growing −38.6% versus a year earlier (3y avg −1.9%). 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 Aedas Homes SL (AEDAS)?
Earnings per share at Aedas Homes SL are growing −68.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Aedas Homes SL (AEDAS) carry?
The net debt of Aedas Homes SL is €327M (fiscal year 2026, ≈ 4.1 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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