Alpargatas S.A (ALPA3) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Alpargatas S.A stock BRL 10.22, price BRL 10.59, that is 3.5% below the price, quality 76 out of 100. Rating: fairly valued. 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
60‑month range R$4.81 – R$43.38 · fair‑value band R$6.93 – R$14.39 · the R$10.59 price screens above the R$10.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Alpargatas S.A. manufactures and sells footwear and accessories in Brazil and internationally. The company offers its products under the Havaianas, ioasys, and Rothys brands. The company was formerly known as São Paulo Alpargatas S.A. and changed its name to Alpargatas S.A. in 2010.
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The company was founded in 1907 and is headquartered in São Paulo, Brazil.
Stock analysis
Alpargatas S.A (ALPA3) currently trades at R$10.59, while our model-based Fair Value estimate is R$10.22, so the stock looks roughly fairly valued today (gap 3.6%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R$15.42 per share, and 8 of the 26 models we run sit above the R$10.59 price.
Bear case: the Asset-Based group reads lowest at R$2.76, and 18 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: R$6.93 (bear) to R$14.39 (bull), the price of R$10.59 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 76/100 (high quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Alpargatas S.A reported revenue of R$4.6B in FY2025 versus R$3.9B in FY2021, a compound +3.7%/yr. Reported net income was R$569M in FY2025, compounding −4.7%/yr from FY2021.
Key figures
Market cap R$9.1B (≈ $1.7B) Small · P/E ratio 14.5 · P/S ratio 1.89 · EPS (TTM) R$0.9300 · Dividend yield 3.3% · Net margin 14.5% · Return on equity 18.1% · Return on assets (EBIT) 5.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 30% fair-value upside, at −3%, ALPA3 screens richer than that median.
Fair Value models
BearR$6.93Fair Value R$10.22BullR$14.39
Price R$10.59 · Downside -3.5%
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 (R$0.7950 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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.1%
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.
+3.0%
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.
+7.7%
Start year 2020 (pandemic). Over 10 years: +1.2% a year
Revenue growth 22 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.
+6.9%
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What shareholders gained per year (last 5 years), in BRL (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in BRL: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−3.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.2%
Dividend (yield on the price)3.3%
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.11.6% vs 5.4%, 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.9% → 12%
2025 sits 391% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than 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).
+13.5%
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.
+7.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about +9.9% a year for the price and +4.2% for the forecasts.
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.Footwear & Accessories · 92 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside−3.5% · Below median
Profitability
Return on equity (12 months)18.1% · Top 25%
Return on assets9.3% · Top 25%
Net margin (12 months)14.5% · Top 25%
Operating margin (12 months)17.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)11.3% · Top 25%
Dividend yield (12 months)3.3% · Above median
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Footwear & Accessories median · lower = cheaper
P/E (12 months)14.5× · Cheaper than median
P/B2.75× · Priciest 25%
P/S (12 months)1.89× · Priciest 25%
Price / free cash flow (fiscal year)19.5× · Pricier than median
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). "Alpargatas S.A Fair Value". https://www.fairvalue-calculator.com/stock/ALPA3
Frequently asked questions
Is Alpargatas S.A (ALPA3) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of R$10.22 versus a price of R$10.59, about 3% lower (fairly valued).
What is the fair value of ALPA3?
Our model-based fair value for Alpargatas S.A is R$10.22 (as of Nov 7, 2026), built from audited fundamentals. The current price: R$10.59.
What is the quality score of ALPA3?
Alpargatas S.A has a Quality Score of 76/100. 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 Alpargatas S.A (ALPA3)?
Our model-based price target is the fair value of R$10.22 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario R$6.93, optimistic scenario R$14.39. It is a calculation from audited fundamentals, not an analyst target.
What is the Alpargatas S.A stock forecast for 2026?
Our models put fair value at R$10.22, about 3% lower versus a price of R$10.59 (fairly valued). Cautious scenario R$6.93, optimistic scenario R$14.39. The calculation is refreshed regularly with new filings.
What is the revenue of Alpargatas S.A (ALPA3)?
Alpargatas S.A reported trailing-twelve-month revenue of about R$4.8B (latest available figure, as of Nov 7, 2026).
Does Alpargatas S.A pay a dividend?
Alpargatas S.A currently shows a dividend yield of 3.33% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Alpargatas S.A (ALPA3)?
Alpargatas S.A has a dividend yield of 3.3%.
What growth is priced into Alpargatas S.A (ALPA3)?
For today's price to be fair in a discounted-cash-flow model, Alpargatas S.A would have to grow free cash flow by +13.5 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of ALPA3 use?
Our models discount Alpargatas S.A at 12.7 %: a base by market capitalisation (small), damped by beta 0.56, country premium for Brazil. 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 Alpargatas S.A that is +13.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Alpargatas S.A (ALPA3) delivered so far?
Over the past 5 years revenue at Alpargatas S.A grew +7.8 % a year. The price currently implies free-cash-flow growth of +13.5 % 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 Alpargatas S.A (ALPA3) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Alpargatas S.A (+13.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Alpargatas S.A (ALPA3)?
The free-cash-flow yield on the price is 6.39 %: that much free cash flow Alpargatas S.A produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Alpargatas S.A (ALPA3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alpargatas S.A it is R$10.22 per share (as of Nov 7, 2026), against a price of R$10.59. 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 Alpargatas S.A stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ALPA3 trades above its calculated fair value: price R$10.59, fair value R$10.22, a gap of about −3% (fairly valued). 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 ALPA3?
No. The price is what the market pays today (R$10.59); the fair value is what the company's own numbers justify (R$10.22). For Alpargatas S.A the two are R$0.3700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Alpargatas S.A worth?
The market values Alpargatas S.A at about R$9.1B (market capitalisation, as of Nov 7, 2026). Per share that is R$10.59; our models calculate a fair value of R$10.22 per share.
What do the bullish and bearish scenarios say about ALPA3?
Our models span a range for Alpargatas S.A: cautious scenario R$6.93, base R$10.22, optimistic R$14.39 per share (as of Nov 7, 2026, price R$10.59). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ALPA3?
Alpargatas S.A trades at a price-to-earnings ratio of 14.5 (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 R$10.22 is built from several models across several years. Other multiples: PEG 0.6, P/B 2.8, P/S 1.9, EV/EBITDA 11.4.
What is the PEG ratio of ALPA3?
The PEG ratio of Alpargatas S.A is 0.55 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Alpargatas S.A (ALPA3)?
Balance-sheet figures for Alpargatas S.A (as of Nov 7, 2026): return on equity 18.1%, debt of 0.26 per unit of equity. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is ALPA3 from its 52-week high?
Alpargatas S.A trades at R$10.59, about 21% below its 52-week high of R$13.45 and 24% above the low of R$8.55 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R$10.22 is for.
Which stocks are comparable to Alpargatas S.A?
From the same area (Consumer Cyclical) we also value NIKE, Inc, adidas AG, On Holding, Deckers Outdoor 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 Alpargatas S.A stock attractive at the current price?
The data as of Nov 7, 2026: price R$10.59, calculated fair value R$10.22 (−3%), Quality Score 76/100, 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 ALPA3 calculated?
We run Alpargatas 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 R$10.22 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. Alpargatas S.A itself currently trades above fair value. 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 Alpargatas S.A (ALPA3)?
The closing price on Nov 6, 2026 was R$10.59. Our model-based fair value is R$10.22, about 3% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alpargatas S.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (R$6.93 to R$14.39) leaves room in how you read the outcome.
Key figures of Alpargatas S.A
How large is the market capitalisation of Alpargatas S.A (ALPA3)?
The market capitalisation of Alpargatas S.A is R$9.1B (≈ $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 Alpargatas S.A (ALPA3)?
The price-to-sales ratio of Alpargatas S.A is 1.89 (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 Alpargatas S.A (ALPA3)?
Earnings per share at Alpargatas S.A are R$0.9300 (price ÷ EPS = P/E 14.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Alpargatas S.A (ALPA3)?
The dividend yield of Alpargatas S.A is 3.3% (payout 37.9%). 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 Alpargatas S.A (ALPA3)?
The net margin of Alpargatas S.A is 14.5% (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 Alpargatas S.A (ALPA3)?
The return on equity (ROE) of Alpargatas S.A is 18.1% (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 Alpargatas S.A (ALPA3)?
On an EBIT basis the return on assets of Alpargatas S.A is 5.3% (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 Alpargatas S.A (ALPA3)?
The operating margin of Alpargatas S.A is 17.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alpargatas S.A (ALPA3)?
Revenue at Alpargatas S.A is growing +11.3% versus a year earlier (3y avg +3.0%). 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 Alpargatas S.A (ALPA3)?
Earnings per share at Alpargatas S.A are growing +92.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Alpargatas S.A (ALPA3) carry?
The net debt of Alpargatas S.A is R$843M (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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Broad data
Nov 7, 2026