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Capex S.A (CAPX) Fair Value & Analysis

Energy · AR · Market cap 799B ARS

CS Capex S.A CAPX · BA
Price4,445 ARS
Fair Value3,020 ARS
Upside-32.1%
Quality34/100
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Expensive Growth
Loss-making · -14.6% net margin
Moderate debt · negative free cash flow
Trails peers (2/9)
Narrow moat 14/100
Evidence: High Range 2,265 ARS – 3,056 ARS Share as image

Fair value as of: Jul 15, 2026

From 15 valuation models · updated 26 days ago

Share price +10.4% over the past month.

Below-average quality, and screening another 32% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (3,056 ARS). The favourable scenario is already priced in.
  • Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

9,440 ARS 55.85 ARS Fair Value 3,020 ARS Feb 2021 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 55.85 ARS – 9,440 ARS · fair‑value band 2,265 ARS – 3,056 ARS · the 4,445 ARS price screens above the 3,020 ARS fair value. Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

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Analysis

Capex S.A (CAPX) currently trades at 4,445 ARS, while our model-based Fair Value estimate is 3,020 ARS, implying the stock looks roughly 32.1% overvalued today. The Quality Score stands at 34/100 (below-average quality), in the Energy 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, Capex S.A generated revenue of 418B ARS at a net margin of -14.6%. Revenue grew 12.2% year over year. It earns a return on equity of -11.1%. Net debt stands at 489B ARS. Fundamentals as of Jul 15, 2026

Our scenario range runs from 2,265 ARS (bear case) to 3,056 ARS (bull case); at 4,445 ARS, 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 36% below its 52-week high and 48% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -26% fair-value upside, at -32%, CAPX 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
Residual Income 2,257 ARS 2,315 ARS 2,279 ARS 76
Gordon GGM 928.28 ARS 2,027 ARS 3,410 ARS 70
Growth-Adj P/E 4,608 ARS 6,583 ARS 8,559 ARS 68
All 15 models by family
DCF Models
Owner Earnings 289.20 ARS 3,323 ARS 9,975 ARS 31
Earnings-Based
Graham-Dodd 977.88 ARS 6,820 ARS 9,570 ARS 54
Lynch FV 3,523 ARS 5,033 ARS 6,543 ARS 50
PEG = 1.0 3,523 ARS 5,033 ARS 6,543 ARS 46
Dividend Discount
Gordon GGM 928.28 ARS 2,027 ARS 3,410 ARS 70
DDM Multi-Stage 928.28 ARS 1,660 ARS 2,112 ARS 61
Multiples
P/E Multiple 2,265 ARS 3,020 ARS 3,775 ARS 63
P/S Multiple 1,834 ARS 2,445 ARS 3,056 ARS 58
P/B Multiple 1,834 ARS 2,445 ARS 3,056 ARS 55
EV/EBIT 293.21 ARS 858.84 ARS 53
EV/EBITDA 8,906 ARS 12,531 ARS 16,156 ARS 54
EV/Revenue 279.90 ARS 43
Asset-Based
NCAV (Graham) 1,438 ARS 1,927 ARS 2,876 ARS 50
Economic Profit
Residual Income 2,257 ARS 2,315 ARS 2,279 ARS 76
Growth Earnings
Growth-Adj P/E 4,608 ARS 6,583 ARS 8,559 ARS 68

Widest divergence: Growth Earnings (6,583 ARS) versus Dividend Discount (1,660 ARS). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 418B ARS
Revenue growth (YoY) +12.2%
Net margin -14.6%
Return on equity -11.1%
Free cash flow −3.7B ARS FY2025
Operating margin -8.4%
More key figures
EPS (TTM) -338.65 ARS
EPS growth (YoY) +742%
Net debt 489B ARS FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 38 · Market factors (momentum, volatility) 36

Profitability 25
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 28
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

Capex S.A., an integrated energy company, engages in the exploration and exploitation of hydrocarbons in Argentina. The company is involved in the exploration and exploitation of oil and gas; construction and development of a combined-cycle thermal power plant with an installed capacity of 672 MW and an LPG plant; production of hydrogen and oxygen; and …

Full company description

Capex S.A., an integrated energy company, engages in the exploration and exploitation of hydrocarbons in Argentina. The company is involved in the exploration and exploitation of oil and gas; construction and development of a combined-cycle thermal power plant with an installed capacity of 672 MW and an LPG plant; production of hydrogen and oxygen; and production and sale of propane, butane, and gasoline, as well as generation of energy from wind farms and hydrogen/oxygen. It also processes and separates liquid gases derived from gas. The company was incorporated in 1988 and is based in Vicente López, Argentina. Capex S.A. is a subsidiary of Companias Asociadas Petroleras S.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Capex S.A reported revenue of 407B ARS in FY2025 versus 18.0B ARS in FY2021, a compound +118.2%/yr. Reported net income was 25.9B ARS in FY2025.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
407B ARS
Latest YoY
−16.6%
Avg. growth/yr (3Y)
+69.8%
Avg. growth/yr (5Y)
+87.4%
Avg. growth/yr (9Y)
+82.1%
Revenue +118.2%/yr
FY21 18.0B ARS
FY22 83.1B ARS
FY23 354B ARS
FY24 488B ARS
FY25 407B ARS
Net income
FY21 −634M ARS
FY22 9.9B ARS
FY23 90.0B ARS
FY24 −52.3B ARS
FY25 25.9B ARS

CAPX screens 32% overvalued. Compare with CNOOC Limited →

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

Peer Group

Oil & Gas E&P · 315 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 34 · Below median
Fair Value upside −32% · Below median
Return on assets -0% · Below median
Net margin (TTM) -15% · Bottom 25%
Operating margin (TTM) -8% · Below median
Revenue growth 12% · Above median
Debt / equity 0.70× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas E&P median · lower = cheaper

EV/EBITDA 2.3× · Cheaper 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 0 · sector 14
FUTURE 61 · sector 0
PAST 0 · sector 0
HEALTH 65 · sector 87
DIVIDEND 0 · sector 66

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

Values & ESG

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

Oil & gas

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

Similar stocks

10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
CNOOC Limited 600938 ¥28.97 ¥32.55 +12%
ConocoPhillips explores for, COP $109.04 $91.79 -16%
Canadian Natural Resources Limited CNQ $42.86 $31.54 -26%
EOG Resources, Inc EOG $139.89 $130.19 -7%
Occidental Petroleum Corporation OXY $54.86 $30.68 -44%
Diamondback Energy, Inc FANG $183.39 $106.12 -42%
Devon Energy Corporation DVN $43.83 $27.06 -38%
Woodside Energy Group WDS A$30.46 A$20.71 -32%
EQT Corporation EQT $48.85 $42.85 -12%
Texas Pacific Land Corporation TPL $415.70 $79.20 -81%

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Frequently asked questions

Is Capex S.A (CAPX) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 3,020 ARS versus a price of 4,445 ARS, about −32% (overvalued).
What is the fair value of CAPX?
Our model-based fair value for Capex S.A is 3,020 ARS (as of Jul 15, 2026), built from audited fundamentals. The current price is 4,445 ARS.
What is the quality score of CAPX?
Capex S.A has a Quality Score of 34/100. 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 Capex S.A (CAPX)?
Capex S.A reported trailing-twelve-month revenue of about 418B ARS (latest available figure, as of Jul 15, 2026).
What is the net profit margin of CAPX?
The net profit margin of Capex S.A is about -14.6%, meaning it is currently running at a net loss. 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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