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Antin Infrastructure Partners S.A (ANTIN) Fair Value & Analysis

Financial Services · FR · Market cap €1.6B

AI Antin Infrastructure Partners S.A ANTIN · PA
Price€9.34
Fair Value€3.74
Upside-60.0%
Quality85/100
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Mixed Growth
Highly profitable · 36.6% net margin
Low debt · generates free cash flow
7.87% dividend yield
Mixed vs. peers (6/14)
Wide moat 85/100
Evidence: High Range €2.80 – €4.67 Share as image

Fair value as of: Jul 18, 2026

From 13 valuation models · updated 23 days ago

Share price +5.7% over the past month.

A strong business, but screening 60% overvalued on our models.

What matters now

  • A high-quality business (quality 85/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (€4.67). The favourable scenario is already priced in.
  • 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)

€28.05 €8.42 Fair Value €3.74 Sep 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

58‑month range €8.42 – €28.05 · fair‑value band €2.80 – €4.67 · the €9.34 price screens above the €3.74 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

Antin Infrastructure Partners S.A (ANTIN) currently trades at €9.34, while our model-based Fair Value estimate is €3.74, implying the stock looks roughly 60.0% overvalued today. The Quality Score stands at 85/100 (high 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, Antin Infrastructure Partners S.A generated revenue of €292M at a net margin of 36.6%. Revenue declined 15.8% year over year. It earns a return on equity of 21.9%. The balance sheet holds a net cash position of €301M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €2.80 (bear case) to €4.67 (bull case); at €9.34, the current price sits above 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 about 26% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -60%, ANTIN screens richer 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 €9.41 €14.12 €21.07 80
Residual Income €3.32 €4.02 €8.79 76
Rev-Margin DCF €6.23 €8.41 €11.33 74
All 13 models by family
DCF Models
Owner Earnings €9.26 €14.53 €22.86 31
5Y P/E Exit €8.34 €12.82 €17.99 38
10Y P/E Exit €8.71 €12.77 €18.57 35
Earnings-Based
Graham-Dodd €4.23 €21.32 €29.44 54
Lynch FV €5.78 €8.26 €10.74 50
Dividend Discount
Gordon GGM €5.67 €10.22 €14.07 70
DDM Multi-Stage €5.67 €9.34 €10.92 61
Multiples
P/E Multiple €6.06 €8.08 €10.10 63
P/B Multiple €2.80 €3.74 €4.67 55
Asset-Based
NCAV (Graham) €1.33 €1.79 €2.67 50
Growth DCF
Growth DCF €9.41 €14.12 €21.07 80
Rev-Margin DCF €6.23 €8.41 €11.33 74
Economic Profit
Residual Income €3.32 €4.02 €8.79 76

Widest divergence: DCF Models (€12.82) versus Asset-Based (€1.79). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €292M
Revenue growth (YoY) -15.8%
Net margin 36.6%
Return on equity 21.9%
Free cash flow €123M FY2025
P/E ratio 16.6
More key figures
Operating margin 50.8%
EPS (TTM) €0.6000
Dividend yield 7.9%
EPS growth (YoY) -23.1%
Net cash €301M FY2025

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

Quality Score breakdown

Overall quality 85/100

Of which business quality 82 · Market factors (momentum, volatility) 37

Profitability 76
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 80
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

Antin Infrastructure Partners S.A. is a private equity firm specializing in infrastructure investments. The firm does not invest in projects which involve technological or commercial risk associated with developing a clientele in a competitive market or invest alongside partners which could represent counterparty risk.

Full company description

Antin Infrastructure Partners S.A. is a private equity firm specializing in infrastructure investments. The firm does not invest in projects which involve technological or commercial risk associated with developing a clientele in a competitive market or invest alongside partners which could represent counterparty risk. It seeks to invest in main infrastructure sectors including transportation, energy, digital, social infrastructure, environment, and telecommunication. The firm focuses on toll roads, tunnels, highways, tramways, bridges; airports; ports; urban rail, bus lines; car parks in transport; Motorway Service Areas (MSAs); gas storage; LNG terminals; transmission (pipelines, high-voltage electricity transmission); distribution; buildings and public works, generation (non-merchant); water infrastructure (pipelines & sewage units); waste management in energy and environment; and GSM towers; ADSL networks; broadcast networks; cable networks; and satellites in Telecommunication. It typically to invests in non-listed companies based in continental Europe including United Kingdom and North America. It seeks to invest between "600 million ($643.62 million) to "1000 million ($1072.70 million) in flagship, between "50 million ($53.63 million) to "300 million ($321.81 million) in mid cap, between "20 million ($21.45 million) to "200 million ($214.54 million) in nextgen. The firm may take minority or majority stake allowing representation to the board of directors. It essentially invests in equity and may invest alone or co-invest through a consortium. Antin Infrastructure Partners S.A. was founded in 2007 and is based in Paris, France with additional offices in London, United Kingdom, Luxembourg, Luxembourg, Singapore, Singapore, Seoul, South Korea and New York, New York.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Antin Infrastructure Partners S.A reported revenue of €292M in FY2025 versus €181M in FY2021, a compound +12.8%/yr. Reported net income was €111M in FY2025, compounding +36.1%/yr from FY2021.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€292M
Latest YoY
−8.2%
Avg. growth/yr (3Y)
+10.9%
Avg. growth/yr (5Y)
+10.2%
Avg. growth/yr (7Y)
+21.0%
Revenue +12.8%/yr
FY21 €181M
FY22 €214M
FY23 €283M
FY24 €318M
FY25 €292M
Net income +36.1%/yr
FY21 €32.4M
FY22 −€16.8M
FY23 €74.8M
FY24 €132M
FY25 €111M

ANTIN screens 60% overvalued. Compare with Fondul Proprietatea SA →

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Cite: Fair Value Calculator (2026). "Antin Infrastructure Partners S.A Fair Value". https://www.fairvalue-calculator.com/stock/ANTIN

Peer Group

Asset Management · 973 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 85 · Top 25%
Fair Value upside −60% · Bottom 25%
Return on equity (TTM) 22% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 37% · Above median
Operating margin (TTM) 51% · Below median
Revenue growth -16% · Bottom 25%
Dividend yield (TTM) 7.9% · Top 25%

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 14.9× · Pricier than median
P/B 3.87× · Pricier than 75% of peers
P/S (TTM) 6.30× · Pricier than median
P/FCF 15.0× · Pricier than median
EV/EBITDA 9.8× · Pricier than median

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 0 · sector 37
FUTURE 0 · sector 6
PAST 88 · sector 26
HEALTH 100 · sector 95
DIVIDEND 100 · sector 69

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +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%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is Antin Infrastructure Partners S.A (ANTIN) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €3.74 versus a price of €9.34, about −60% (overvalued).
What is the fair value of ANTIN?
Our model-based fair value for Antin Infrastructure Partners S.A is €3.74 (as of Jul 18, 2026), built from audited fundamentals. The current price is €9.34.
What is the quality score of ANTIN?
Antin Infrastructure Partners S.A has a Quality Score of 85/100. 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 revenue of Antin Infrastructure Partners S.A (ANTIN)?
Antin Infrastructure Partners S.A reported trailing-twelve-month revenue of about €292M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ANTIN?
The net profit margin of Antin Infrastructure Partners S.A is about 36.6%, meaning it keeps roughly 36.6% of revenue as net income. Based on the latest reported figures.
Does Antin Infrastructure Partners S.A pay a dividend?
Antin Infrastructure Partners S.A currently shows a dividend yield of about 7.27% relative to its recent price (as of Jul 18, 2026).

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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