Besalco Sa (BESALCO) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Besalco Sa CLP 2,227, price CLP 1,325, upside +68.1%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 158.86 CLP – 1,413 CLP · fair‑value band 1,327 CLP – 2,784 CLP · the 1,325 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 Sep 24, 2026.
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Besalco S.A. operates as a construction company in Chile.
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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.
Stock analysis
Besalco Sa (BESALCO) currently trades at 1,325 CLP, while our model-based Fair Value estimate is 2,227 CLP, implying the stock looks roughly 40.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,301 CLP per share, and 20 of the 24 models we run sit above the 1,325 CLP price.
Bear case: the Asset-Based group reads lowest at 427.88 CLP, and 4 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 1,327 CLP (bear) to 2,784 CLP (bull), the price of 1,325 CLP sits below 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 48/100 (below-average quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Besalco Sa 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.
Key figures
Market cap 763B CLP (≈ $763M) · P/E ratio 12.5 · P/S ratio 0.70 · EPS (TTM) 106.11 CLP · Net margin 5.6% · Return on equity 20.0% · Return on assets (EBIT) 7.0% · Operating margin 7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 48% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 68%, BESALCO screens cheaper than that median.
Fair Value models
Bear 1,327 CLPFair Value 2,227 CLPBull 2,784 CLP
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (77.62 CLP 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.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.
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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.2%
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.
+11.8%
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.
+22.1%
Start year 2020 (pandemic). Over 10 years: +10.9% a year
Revenue growth 10 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.
+10.9%
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What shareholders gained per year (last 5 years), in CLP ⓘ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. Basis: EBIT basis. Measured in CLP: 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.
+20.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.8%
Dividend (yield on the price)0.0%
Profit margin 2019 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.8% → 9%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
+10.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Chile: IMF forecast 3.0% a year to 2030, 4.5% from 2016 to 2025) that is about +6.8% a year for the price.
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.Engineering & Construction · 836 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+68% · Top 25%
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets4% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth−17% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.60× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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). "Besalco Sa Fair Value". https://www.fairvalue-calculator.com/stock/BESALCO
Frequently asked questions
Is Besalco Sa (BESALCO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,227 CLP versus a price of 1,325 CLP, about +68% upside (undervalued).
What is the fair value of BESALCO?
Our model-based fair value for Besalco Sa is 2,227 CLP (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,325 CLP.
What is the quality score of BESALCO?
Besalco Sa 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 price target for Besalco Sa (BESALCO)?
Our model-based price target is the fair value of 2,227 CLP (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 1,327 CLP, optimistic scenario 2,784 CLP. It is a calculation from audited fundamentals, not an analyst target.
What is the Besalco Sa stock forecast for 2026?
Our models put fair value at 2,227 CLP, about +68% upside versus a price of 1,325 CLP (undervalued). Cautious scenario 1,327 CLP, optimistic scenario 2,784 CLP. The calculation is refreshed regularly with new filings.
What is the revenue of Besalco Sa (BESALCO)?
Besalco Sa reported trailing-twelve-month revenue of about 1.1T CLP (latest available figure, as of Sep 24, 2026).
What growth is priced into Besalco Sa (BESALCO)?
For today's price to be fair in a discounted-cash-flow model, Besalco Sa would have to grow free cash flow by +10.1 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BESALCO use?
Our models discount Besalco Sa at 10.6 %: a base by market capitalisation (small), damped by beta 0.45, country premium for Chile. 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 Besalco Sa that is +10.1 % per year a year over ten years, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Besalco Sa (BESALCO) delivered so far?
Over the past 5 years revenue at Besalco Sa grew +22.1 % a year. The price currently implies +10.1 % 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 Besalco Sa (BESALCO) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Besalco Sa (+10.1 % 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 Besalco Sa (BESALCO)?
The free-cash-flow yield on the price is 7.00 %: that much free cash flow Besalco Sa produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Besalco Sa (BESALCO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Besalco Sa it is 2,227 CLP per share (as of Sep 24, 2026), against a price of 1,325 CLP. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Besalco Sa stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BESALCO trades below its calculated fair value: price 1,325 CLP, fair value 2,227 CLP, a gap of about +68% (undervalued). 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 BESALCO?
No. The price is what the market pays today (1,325 CLP); the fair value is what the company's own numbers justify (2,227 CLP). For Besalco Sa the two are 902.46 CLP per share apart. That gap is exactly why we show both numbers side by side.
How much is Besalco Sa worth?
The market values Besalco Sa at about 763B CLP (market capitalisation, as of Sep 24, 2026). Per share that is 1,325 CLP; our models calculate a fair value of 2,227 CLP per share.
What do the bullish and bearish scenarios say about BESALCO?
Our models span a range for Besalco Sa: cautious scenario 1,327 CLP, base 2,227 CLP, optimistic 2,784 CLP per share (as of Sep 24, 2026, price 1,325 CLP). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BESALCO?
Besalco Sa trades at a price-to-earnings ratio of 12.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2,227 CLP is built from several models across several years. Other multiples: P/B 2.1, P/S 0.7, EV/EBITDA 5.7.
How solid is the balance sheet of Besalco Sa (BESALCO)?
Balance-sheet figures for Besalco Sa (as of Sep 24, 2026): return on equity 20.0%, debt of 0.60 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is BESALCO from its 52-week high?
Besalco Sa trades at 1,325 CLP, about 6% below its 52-week high of 1,413 CLP and 48% above the low of 896.83 CLP (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,227 CLP is for.
Which stocks are comparable to Besalco Sa?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 Besalco Sa stock attractive at the current price?
The data as of Sep 24, 2026: price 1,325 CLP, calculated fair value 2,227 CLP (+68%), Quality Score 48/100, from 24 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 BESALCO calculated?
We run Besalco Sa through 24 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 2,227 CLP, 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 14.1 % above its aggregate fair value. Besalco Sa currently trades 68 % below its own fair value, and the market average says nothing about that. 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 Besalco Sa (BESALCO)?
The closing price on Sep 23, 2026 was 1,325 CLP. Our model-based fair value is 2,227 CLP, about +68% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Besalco Sa right now?
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 (1,327 CLP to 2,784 CLP) leaves room in how you read the outcome.
Key figures of Besalco Sa
How large is the market capitalisation of Besalco Sa (BESALCO)?
The market capitalisation of Besalco Sa is 763B CLP (≈ $763M). 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 Besalco Sa (BESALCO)?
The price-to-sales ratio of Besalco Sa is 0.70 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Besalco Sa (BESALCO)?
Earnings per share at Besalco Sa are 106.11 CLP (price ÷ EPS = P/E 12.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Besalco Sa (BESALCO)?
The net margin of Besalco Sa is 5.6% (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 Besalco Sa (BESALCO)?
The return on equity (ROE) of Besalco Sa is 20.0% (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 Besalco Sa (BESALCO)?
On an EBIT basis the return on assets of Besalco Sa is 7.0% (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 Besalco Sa (BESALCO)?
The operating margin of Besalco Sa is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Besalco Sa (BESALCO)?
Revenue at Besalco Sa is growing −16.7% versus a year earlier (3y avg +11.8%). 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 Besalco Sa (BESALCO)?
Earnings per share at Besalco Sa are growing +33.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Besalco Sa (BESALCO) carry?
The net debt of Besalco Sa is 214B CLP (fiscal year 2025, ≈ 4.0 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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