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Besalco S.A (BESALCO) Fair Value & Analysis

Industrials · CL · Market cap 730B CLP

BS Besalco S.A BESALCO · SN
Price1,211 CLP
Fair Value2,227 CLP
Upside+83.9%
Quality48/100
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Healthy Growth
Thin margins · 6.1% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (8/14)
Moderate moat 49/100
Evidence: High Range 1,331 CLP – 2,784 CLP Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Share price −2.3% over the past month.

Below-average quality, screening 84% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1,331 CLP). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (1,331 CLP to 2,784 CLP) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1,413 CLP 158.86 CLP Fair Value 2,227 CLP Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 158.86 CLP – 1,413 CLP · fair‑value band 1,331 CLP – 2,784 CLP · the 1,211 CLP price screens below the 2,227 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Besalco S.A (BESALCO) currently trades at 1,211 CLP, while our model-based Fair Value estimate is 2,227 CLP, implying the stock looks roughly 83.9% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Besalco S.A generated revenue of 1.1T CLP at a net margin of 6.1%. Revenue declined 16.7% year over year. It earns a return on equity of 20.0%. Net debt stands at 214B CLP. Fundamentals as of Jul 14, 2026

Our scenario range runs from 1,331 CLP (bear case) to 2,784 CLP (bull case); at 1,211 CLP, the current price sits below 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 16% below its 52-week high and 57% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 84%, BESALCO 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 1,093 CLP 2,170 CLP 4,142 CLP 80
Residual Income 728.41 CLP 959.51 CLP 3,241 CLP 76
Rev-Margin DCF 1,234 CLP 2,395 CLP 3,921 CLP 74
All 24 models by family
DCF Models
FCF DCF 1,104 CLP 2,274 CLP 4,449 CLP 38
Owner Earnings 382.00 CLP 897.41 CLP 1,856 CLP 31
5Y Revenue Exit 1,234 CLP 2,438 CLP 4,106 CLP 39
5Y EBITDA Exit 1,628 CLP 3,263 CLP 5,358 CLP 41
5Y P/E Exit 1,289 CLP 2,554 CLP 4,025 CLP 38
10Y Revenue Exit 1,131 CLP 2,288 CLP 4,128 CLP 36
10Y EBITDA Exit 1,454 CLP 2,912 CLP 5,217 CLP 37
10Y P/E Exit 1,223 CLP 2,376 CLP 4,057 CLP 35
Earnings-Based
Graham-Dodd 721.27 CLP 3,526 CLP 4,860 CLP 54
Lynch FV 946.67 CLP 1,352 CLP 1,758 CLP 50
PEG = 1.0 946.67 CLP 1,352 CLP 1,758 CLP 46
EPV 1,075 CLP 1,298 CLP 1,496 CLP 59
Multiples
P/E Multiple 1,671 CLP 2,227 CLP 2,784 CLP 63
P/S Multiple 1,352 CLP 1,803 CLP 2,254 CLP 58
P/B Multiple 1,352 CLP 1,803 CLP 2,254 CLP 55
EV/EBIT 1,887 CLP 2,578 CLP 3,269 CLP 53
EV/EBITDA 2,006 CLP 2,736 CLP 3,467 CLP 54
EV/Revenue 1,293 CLP 1,928 CLP 2,562 CLP 43
Asset-Based
NCAV (Graham) 319.31 CLP 427.88 CLP 638.62 CLP 50
Growth DCF
Growth DCF 1,093 CLP 2,170 CLP 4,142 CLP 80
Rev-Margin DCF 1,234 CLP 2,395 CLP 3,921 CLP 74
Economic Profit
Residual Income 728.41 CLP 959.51 CLP 3,241 CLP 76
ROIC Compounder 1,258 CLP 1,851 CLP 2,688 CLP 72
Growth Earnings
Growth-Adj P/E 1,464 CLP 2,092 CLP 2,719 CLP 68

Widest divergence: DCF Models (2,376 CLP) versus Asset-Based (427.88 CLP). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.1T CLP
Revenue growth (YoY) -16.7%
Net margin 6.1%
Return on equity 20.0%
Free cash flow 53.4B CLP FY2025
P/E ratio 11.9
More key figures
Operating margin 7.3%
EPS (TTM) 106.11 CLP
EPS growth (YoY) +33.0%
Net debt 214B CLP FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 46 · Market factors (momentum, volatility) 70

Profitability 41
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 82
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

Besalco S.A. operates as a construction company in Chile. It constructs reservoirs, tunnels, tailings dams, bridges, viaducts, gas pipelines, irrigation works, hydroelectric power plants, sanitation works, mining works, hospitals, stadiums, residential and commercial buildings, airports, and seaports, as well as works for the Santiago Metro and State …

Full company description

Besalco S.A. operates as a construction company in Chile. It constructs reservoirs, tunnels, tailings dams, bridges, viaducts, gas pipelines, irrigation works, hydroelectric power plants, sanitation works, mining works, hospitals, stadiums, residential and commercial buildings, airports, and seaports, as well as works for the Santiago Metro and State Railways; assembles and develops projects for the expansion or modification of existing facilities; and engineers and constructs complex industrial plants, as well as designs and constructs electrical power transmission systems. It also designs, constructs, and sells, houses and apartments. In addition, the company provides mining and earthmoving; crushing, sorting, processing, loading and transport of materials; salt harvesting, tailings dam operations, spot equipment rental; mechanized forest harvesting, debarking, chipping and chip transport; and transports ready-mix concrete. Further, it engages in engineering development, construction, maintenance, and operation of investments in renewable energy, as well as concessions in public and private infrastructure, ports, airports, or others. The company was formerly known as Sanz, Bezanilla y Salinas Limitada and changed its name to Besalco S.A. in January 1995. Besalco S.A. was incorporated in 1944 and is based in Santiago, Chile.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Besalco S.A reported revenue of 1.1T CLP in FY2025 versus 607B CLP in FY2021, a compound +15.9%/yr. Reported net income was 61.1B CLP in FY2025, compounding +34.7%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.1T CLP
Latest YoY
+7.2%
Avg. growth/yr (3Y)
+11.8%
Avg. growth/yr (5Y)
+22.1%
Avg. growth/yr (10Y)
+10.9%
Revenue +15.9%/yr
FY21 607B CLP
FY22 785B CLP
FY23 861B CLP
FY24 1.0T CLP
FY25 1.1T CLP
Net income +34.7%/yr
FY21 18.6B CLP
FY22 40.5B CLP
FY23 44.1B CLP
FY24 45.2B CLP
FY25 61.1B CLP

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

Peer Group

Engineering & Construction · 837 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 48 · Below median
Fair Value upside +84% · Top 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth -17% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.60× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than median
P/B 1.99× · Pricier than median
P/S (TTM) 0.69× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 5.5× · Cheaper 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 100 · sector 16
FUTURE 0 · sector 18
PAST 80 · sector 26
HEALTH 70 · sector 94
DIVIDEND 0 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Besalco S.A (BESALCO) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 2,227 CLP versus a price of 1,211 CLP, about +84% (undervalued).
What is the fair value of BESALCO?
Our model-based fair value for Besalco S.A is 2,227 CLP (as of Jul 14, 2026), built from audited fundamentals. The current price is 1,211 CLP.
What is the quality score of BESALCO?
Besalco S.A has a Quality Score of 48/100. 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 Besalco S.A (BESALCO)?
Besalco S.A reported trailing-twelve-month revenue of about 1.1T CLP (latest available figure, as of Jul 14, 2026).
What is the net profit margin of BESALCO?
The net profit margin of Besalco S.A is about 6.1%, meaning it keeps roughly 6.1% 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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