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Amundi S.A (AMUN) Fair Value & Analysis

Financial Services · FR · Market cap €18.0B

AS Amundi S.A AMUN · PA
Price€97.10
Fair Value€87.62
Upside-9.8%
Quality74/100
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Mixed Growth
Highly profitable · 23.8% net margin
Low debt · generates free cash flow
Trails peers (5/15)
Wide moat 69/100
Evidence: High Range €65.72 – €109.53 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 20 days ago

Fair value updated Jul 18, 2026, revised from €87.19 to €87.62 (+0.5%) since Jun 26, 2026. Share price +10.0% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

€97.10 €32.34 Fair Value €87.62 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €32.34 – €97.10 · fair‑value band €65.72 – €109.53 · the €97.10 price screens above the €87.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Amundi S.A (AMUN) currently trades at €97.10, while our model-based Fair Value estimate is €87.62, implying the stock looks roughly 9.8% fairly valued today. We read business quality at 74/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Amundi S.A generated revenue of €6.9B at a net margin of 23.8%. Revenue declined 1.0% year over year. It earns a return on equity of 12.8%. Net debt stands at €122M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €65.72 (bear case) to €109.53 (bull case); at €97.10, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -51% fair-value upside, at -10%, AMUN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €105.64 €170.89 €275.41 80
Residual Income €58.99 €70.17 €133.64 76
Rev-Margin DCF €76.22 €118.63 €170.16 74
All 26 models by family
DCF Models
FCF DCF €104.90 €172.05 €280.30 38
Owner Earnings €97.87 €160.39 €261.19 31
5Y Revenue Exit €76.22 €118.38 €172.61 39
5Y EBITDA Exit €97.92 €160.66 €235.64 41
5Y P/E Exit €107.83 €179.96 €258.33 38
10Y Revenue Exit €83.43 €125.36 €183.35 36
10Y EBITDA Exit €99.44 €155.38 €233.34 37
10Y P/E Exit €105.86 €169.08 €251.33 35
Earnings-Based
Graham-Dodd €53.54 €200.31 €270.87 54
Lynch FV €48.28 €68.97 €89.66 50
PEG = 1.0 €48.28 €68.97 €89.66 46
EPV €75.40 €87.52 €98.13 59
Dividend Discount
Gordon GGM €39.34 €81.79 €129.75 70
DDM Multi-Stage €39.34 €68.97 €85.84 61
Multiples
P/E Multiple €118.10 €157.47 €196.83 63
P/S Multiple €65.32 €87.10 €108.87 58
P/B Multiple €100.39 €133.85 €167.31 55
EV/EBIT €135.94 €180.36 €224.77 53
EV/EBITDA €104.24 €138.09 €171.94 54
EV/Revenue €63.66 €89.78 €115.91 43
Asset-Based
NCAV (Graham) €31.29 €41.93 €62.59 50
Growth DCF
Growth DCF €105.64 €170.89 €275.41 80
Rev-Margin DCF €76.22 €118.63 €170.16 74
Economic Profit
Residual Income €58.99 €70.17 €133.64 76
ROIC Compounder €79.72 €104.23 €137.21 72
Growth Earnings
Growth-Adj P/E €86.58 €123.68 €160.79 68

Widest divergence: DCF Models (€160.39) versus Asset-Based (€41.93). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €6.9B
Revenue growth (YoY) -1.0%
Net margin 23.8%
Return on equity 12.8%
Free cash flow €1.7B FY2025
P/E ratio 10.8
More key figures
Operating margin 49.6%
EPS (TTM) €7.74
EPS growth (YoY) +13.5%
Net debt €122M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 67 · Market factors (momentum, volatility) 80

Profitability 40
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 99
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Amundi S.A. is a publically owned investment manager. The firm engages in the asset management business. The company provides a range of retail products and solutions through quasi-exclusive distribution agreements with the retail banking networks of the Crédit Agricole and the Société Générale groups in France; and through international partner networks …

Full company description

Amundi S.A. is a publically owned investment manager. The firm engages in the asset management business. The company provides a range of retail products and solutions through quasi-exclusive distribution agreements with the retail banking networks of the Crédit Agricole and the Société Générale groups in France; and through international partner networks and joint ventures outside France, as well as through third-party distributors primarily in France, rest of Europe, and Asia. The firm prefers to invest between $1.31 million and $53.89 million in companies having sales value between $13.09 million and $392.78 million. It also offers management and advisory services for various pension funds, insurers, and sovereigns; and treasury management and employee savings solutions for corporate customers through global relationship managers supported by sales and marketing staff in 30 countries. It was formerly known as Amundi Group. The company was founded in 1982 and is headquartered in Paris, France. Amundi Group operates as a subsidiary of Credit Agricole S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Amundi S.A reported revenue of €7.0B in FY2025 versus €5.9B in FY2021, a compound +4.4%/yr. Reported net income was €1.6B in FY2025, compounding +3.8%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€7.0B
Latest YoY
+5.8%
Avg. growth/yr (3Y)
+5.6%
Avg. growth/yr (5Y)
+8.6%
Avg. growth/yr (25Y)
+10.4%
Revenue +4.4%/yr
FY21 €5.9B
FY22 €6.0B
FY23 €6.0B
FY24 €6.7B
FY25 €7.0B
Net income +3.8%/yr
FY21 €1.4B
FY22 €1.1B
FY23 €1.2B
FY24 €1.3B
FY25 €1.6B

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Cite: Fair Value Calculator (2026). "Amundi S.A Fair Value". https://www.fairvalue-calculator.com/stock/AMUN

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Asset Management · 963 stocks

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.

Quality Score 75 · Top 25%
Fair Value upside −10% · Below median
Return on equity (TTM) 13% · Above median
Return on assets 3% · Above median
Net margin (TTM) 24% · Above median
Operating margin (TTM) 50% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 11.5× · Pricier than median
P/B 1.64× · Pricier than 75% of peers
P/S (TTM) 3.02× · Cheaper than median
P/FCF 12.0× · Pricier than median
EV/EBITDA 11.9× · Pricier than median
PEG 7.15× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 20 · sector 37
FUTURE 0 · sector 6
PAST 51 · sector 26
HEALTH 95 · sector 95
DIVIDEND 0 · sector 70

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,036 $504.81 -51%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 394.40 kr 788.80 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%
HDFC Asset Management Company HDFCAMC ₹2,729 ₹301.41 -89%

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Frequently asked questions

Is Amundi S.A (AMUN) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €87.62 versus a price of €97.10, about −10% (fairly valued).
What is the fair value of AMUN?
Our model-based fair value for Amundi S.A is €87.62 (as of Jul 18, 2026), built from audited fundamentals. The current price is €97.10.
What is the quality score of AMUN?
Amundi S.A has a Quality Score of 74/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Amundi S.A (AMUN)?
Amundi S.A reported trailing-twelve-month revenue of about €6.9B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of AMUN?
The net profit margin of Amundi S.A is about 23.8%, meaning it keeps roughly 23.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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