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Altus Group (ASGTF) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Altus Group $28.21, price $30.60, upside -7.8%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Real Estate · US · ISIN CA02215R1073

AG Altus Group logo Broad data Sep 24, 2026

Altus Group

ASGTF · US

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value $28.21 · Fairly valued (−7.8%)
!Quality 58/100
!Weak Growth (revenue 5y −2.2 %/yr)
!Loss-making · -3.0% net margin (TTM)
✓Low debt · generates free cash flow
✓2.0% dividend yield · Cash covered
!Narrow moat 29/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$53.10 $10.75 Fair Value $28.21 Jun 2015 Oct 2026

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 $10.75 – $53.10 · fair‑value band $20.69 – $36.87 · the $30.60 price screens above the $28.21 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Altus Group Limited provides commercial real estate (CRE) intelligence in Canada, the United States, the United Kingdom, France, rest of EMEA, Australia, and rest of the Asia Pacific. It operates through Analytics; and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, VMS, data, and services.

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Altus Group Limited provides commercial real estate (CRE) intelligence in Canada, the United States, the United Kingdom, France, rest of EMEA, Australia, and rest of the Asia Pacific. It operates through Analytics; and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, VMS, data, and services. The Appraisals and Development Advisory comprise services in the areas of commercial property valuation appraisals and commercial development advisory; and offers services in the areas of construction feasibility studies, budgeting, cost and loan monitoring, and construction project management. It also provides ARGUS Intelligence, a software product for cash flow and valuation modeling, performance monitoring, analysis, and management; Forbury for valuation use cases; Fairways Debt for CRE treasury and investment management; ARGUS Taliance for fund management; and ARGUS Developer and ARGUS EstateMaster for development management and modeling. In addition, the company offers VMS, a software-enabled, third-party service for recurring appraisals on CRE investment portfolios; Altus Data Studio and Reonomy for market data and analytics tools to support acquisition, investment, and development decisions; implementation, training, and education for its software products; and strategic advisory on end-to-end CRE technology and operations. Altus Group Limited was incorporated in 2005 and is headquartered in Toronto, Canada.

Stock analysis

Altus Group (ASGTF) currently trades at $30.60, while our model-based Fair Value estimate is $28.21, so the stock looks roughly fairly valued today (gap 8.5%).

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Valuation

Bull case: the DCF Models group reads highest at a median of $27.44 per share, and 0 of the 13 models we run sit above the $30.60 price.

Bear case: the Dividend Discount group reads lowest at $5.91, and 13 of the 13 models stay below the price. Evidence for this calculation is high.

Scenario range: $20.69 (bear) to $36.87 (bull), the price of $30.60 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 58/100 (solid quality), in the Real Estate sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Altus Group reported revenue of C$502M in FY2025 versus C$625M in FY2021, a compound −5.3%/yr. Reported net income was −C$15.8M in FY2025.

Key figures

Market cap $1.3B · P/S ratio 2.28 · EPS (TTM) $−0.0200 · Dividend yield 2.0% · Net margin −3.2% · Return on equity −0.1% · Return on assets (EBIT) 3.4% · Operating margin 9.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 35% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at −8%, ASGTF screens cheaper than that median.

Fair Value models

Bear $20.69 Fair Value $28.21 Bull $36.87
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.
Highest evidence
FCF DCF $20.78 $28.09 $38.00 81
Growth DCF $20.84 $27.13 $35.08 80
5Y EBITDA Exit $20.27 $28.95 $39.03 76
All 13 models by family
DCF Models
FCF DCF $20.78 $28.09 $38.00 81
5Y Revenue Exit $14.05 $17.19 $20.93 74
5Y EBITDA Exit $20.27 $28.95 $39.03 76
10Y Revenue Exit $16.53 $19.93 $24.13 68
10Y EBITDA Exit $20.29 $27.44 $36.87 69
Dividend Discount
Gordon GGM $3.71 $6.68 $9.20 68
DDM Multi-Stage $3.71 $5.91 $7.14 67
Multiples
EV/EBIT $13.62 $16.42 $19.23 66
EV/EBITDA $21.81 $27.34 $32.87 67
EV/Revenue $9.85 $11.84 $13.83 54
Asset-Based
NCAV (Graham) $4.50 $6.02 $8.99 54
Growth DCF
Growth DCF $20.84 $27.13 $35.08 80
Rev-Margin DCF $14.05 $17.43 $21.46 74

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Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 29

Profitability 17
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 94
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 15/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−3.3%
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.
−11.9%
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.
−2.2%
Start year 2020 (pandemic). Over 10 years: +2.6% a year
Revenue growth 27 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.
+7.5%
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.
9.8% (2020) → 5.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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).
+14.5%
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.
+3.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CAD, Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +12.2% a year for the price and +1.1% for the forecasts.
Forecast 2026 (sales)−10.0%
Forecast 2027 (sales)+7.9%
Projected 2028 (sales)+7.2%
Projected 2029 (sales)+6.4%
Projected 2030 (sales)+5.7%

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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

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Wharf Real Estate Investment Company 1997 HK$30.54 HK$27.42 −10%
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Altus Group · Fair Value
$28.21 −8%Fair Value
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Cite: Fair Value Calculator (2026). "Altus Group Fair Value". https://www.fairvalue-calculator.com/stock/ASGTF

Frequently asked questions

Is Altus Group (ASGTF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $28.21 versus a price of $30.60, about −8% upside (fairly valued).
What is the fair value of ASGTF?
Our model-based fair value for Altus Group is $28.21 (as of Sep 24, 2026), built from audited fundamentals. The current price: $30.60.
What is the quality score of ASGTF?
Altus Group has a Quality Score of 58/100. 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 Altus Group (ASGTF)?
Our model-based price target is the fair value of $28.21 (as of Sep 24, 2026) from 13 valuation models. Cautious scenario $20.69, optimistic scenario $36.87. It is a calculation from audited fundamentals, not an analyst target.
What is the Altus Group stock forecast for 2026?
Our models put fair value at $28.21, about −8% upside versus a price of $30.60 (fairly valued). Cautious scenario $20.69, optimistic scenario $36.87. The calculation is refreshed regularly with new filings.
What is the revenue of Altus Group (ASGTF)?
Altus Group reported trailing-twelve-month revenue of about C$507M (latest available figure, as of Sep 24, 2026).
Does Altus Group pay a dividend?
Altus Group currently shows a dividend yield of about 1.96% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Altus Group (ASGTF)?
For today's price to be fair in a discounted-cash-flow model, Altus Group would have to grow free cash flow by +14.5 % per year for five years (discount rate 10.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ASGTF use?
Our models discount Altus Group at 10.7 %: a base by market capitalisation (small), damped by beta 0.82, country premium for USA. 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 Altus Group that is +14.5 % per year a year over ten years, using the same discount rate (10.7 %) and the same formula as our fair value.
How much growth has Altus Group (ASGTF) delivered so far?
Over the past 5 years revenue at Altus Group grew -2.2 % a year. The price currently implies +14.5 % 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 Altus Group (ASGTF) growing?
The median revenue growth in the sector is +1.7 % a year. That is the yardstick for the growth priced into Altus Group (+14.5 % 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 Altus Group (ASGTF)?
The free-cash-flow yield on the price is 4.09 %: that much free cash flow Altus Group produces per unit of market value. When it exceeds the discount rate of our models (10.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Altus Group (ASGTF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Altus Group it is $28.21 per share (as of Sep 24, 2026), against a price of $30.60. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Altus Group stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ASGTF trades above its calculated fair value: price $30.60, fair value $28.21, a gap of about −8% (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 ASGTF?
No. The price is what the market pays today ($30.60); the fair value is what the company's own numbers justify ($28.21). For Altus Group the two are $2.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Altus Group worth?
The market values Altus Group at about $1.3B (market capitalisation, as of Sep 24, 2026). Per share that is $30.60; our models calculate a fair value of $28.21 per share.
What do the bullish and bearish scenarios say about ASGTF?
Our models span a range for Altus Group: cautious scenario $20.69, base $28.21, optimistic $36.87 per share (as of Sep 24, 2026, price $30.60). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is ASGTF from its 52-week high?
Altus Group trades at $30.60, about 35% below its 52-week high of $46.72 and 9% above the low of $28.07 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $28.21 is for.
Which stocks are comparable to Altus Group?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, KE Holdings, Swire Properties Limited, 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 Altus Group stock attractive at the current price?
The data as of Sep 24, 2026: price $30.60, calculated fair value $28.21 (−8%), Quality Score 58/100, from 13 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 ASGTF calculated?
We run Altus Group through 13 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 $28.21, 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. Altus Group 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 Altus Group (ASGTF)?
The closing price on Oct 2, 2026 was $30.60. Our model-based fair value is $28.21, about −8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Altus Group right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Altus Group (ASGTF) come from?
Earnings per share at Altus Group grew −4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.3 %, EBIT margin −1.2 %, tax rate +2.5 %, residual (interest, one-offs) −7.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Altus Group

How large is the market capitalisation of Altus Group (ASGTF)?
The market capitalisation of Altus Group is $1.3B. 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 Altus Group (ASGTF)?
The price-to-sales ratio of Altus Group is 2.28 (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 Altus Group (ASGTF)?
Earnings per share at Altus Group are $−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Altus Group (ASGTF)?
The dividend yield of Altus Group is 2.0%. 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 Altus Group (ASGTF)?
The net margin of Altus Group is −3.2% (fiscal year 2025). 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 Altus Group (ASGTF)?
The return on equity (ROE) of Altus Group is −0.1% (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 Altus Group (ASGTF)?
On an EBIT basis the return on assets of Altus Group is 3.4% (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 Altus Group (ASGTF)?
The operating margin of Altus Group is 9.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Altus Group (ASGTF)?
Revenue at Altus Group is growing +3.7% versus a year earlier (3y avg −11.9%). 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 Altus Group (ASGTF)?
Earnings per share at Altus Group are growing +33.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Altus Group (ASGTF) hold?
Altus Group holds more cash than debt, C$196M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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