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COFACE SA (CFACY) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of COFACE SA $21.52, price $17.92, upside +20.1%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · US · ISIN FR0010667147

CS COFACE SA logo Broad data Sep 24, 2026

COFACE SA

CFACY · US

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value $21.52 · Undervalued (+20.1%)
!Quality 57/100
✓Healthy Growth (revenue 5y +8.3 %/yr)
✓Solidly profitable · 11.7% net margin (TTM)
✓Moderate debt · generates free cash flow
✓7.0% dividend yield · Sustainable
!Moderate moat 52/100

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

$20.03 $9.37 Fair Value $21.52 Jul 2023 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

38‑month range $9.37 – $20.03 · fair‑value band $15.38 – $26.90 · the $17.92 price screens below the $21.52 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

COFACE SA, through its subsidiaries, provides trade credit insurance products and services for small and medium enterprises, mid-market companies, international corporations, international companies, financial institutions, and clients of distribution partners.

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COFACE SA, through its subsidiaries, provides trade credit insurance products and services for small and medium enterprises, mid-market companies, international corporations, international companies, financial institutions, and clients of distribution partners. It offers insurance products, including TradeLiner; EasyLiner, a range of contracts for small and medium enterprises; GlobaLiner, that offers multinationals services, and management and oversight tools; CofaNet, a central internet portal that enables policyholders to manage their contracts; Coface Dashboard, a tool providing client risk analyses and reports; CofaMove, a mobile app that includes the key features of CofaNet; CofaServe, an API offer; and AlyX, a credit risk management software, as well as Single Risk medium-term insurance for commercial and political risks. The company also provides business information, debt collection, factoring and surety bonds services. In addition, it offers contract surety bonds, customs and excise bonds, environmental surety bonds, legal bonds for temporary employment companies, and payment guarantees. Further, the company provides Urba360, a universal risk business assessment; Full report that provides complete financial data, a score, a maximum recommended credit limit and debtor risk assessment using an 11-point scale; Snapshot report, an instant report that provides a summary of the key aspects needed to assess business partners; Score which determines a company's ability to meet its short-term financial commitments; Credit Opinions which provides a recommended outstanding amount for a company; compliance control tools; Portfolio Insights and Selectio, an interactive portfolio management tools; and Economic Insights. It has operations in Western Europe, Africa, Northern Europe, Central and Eastern Europe, the Mediterranean, North America, Latin America, and the Asia-Pacific. COFACE SA was founded in 1946 and is headquartered in Bois-Colombes, France.

Stock analysis

COFACE SA (CFACY) currently trades at $17.92, while our model-based Fair Value estimate is $21.52, implying the stock looks roughly 16.7% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $21.74 per share, and 4 of the 6 models we run sit above the $17.92 price.

Bear case: the Asset-Based group reads lowest at $11.18, and 2 of the 6 models stay below the price. Evidence for this calculation is high.

Scenario range: $15.38 (bear) to $26.90 (bull), the price of $17.92 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 57/100 (solid quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

COFACE SA reported revenue of €1.7B in FY2025 versus €1.3B in FY2021, a compound +6.7%/yr. Reported net income was €222M in FY2025, compounding −0.2%/yr from FY2021.

Key figures

Market cap $2.7B · P/E ratio 10.8 · P/S ratio 1.44 · EPS (TTM) $1.66 · Dividend yield 7.0% · Net margin 13.4% · Return on equity 9.5% · Return on assets 2.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 11% below its 52-week high and 18% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at 18% fair-value upside, at 20%, CFACY screens cheaper than that median.

Fair Value models

Bear $15.38 Fair Value $21.52 Bull $26.90
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 ($0.3100 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. 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
Residual Income $14.58 $16.07 $19.01 76
Gordon GGM $13.83 $23.22 $34.03 67
DDM Multi-Stage $13.83 $20.17 $26.88 67
All 6 models by family
Dividend Discount
Gordon GGM $13.83 $23.22 $34.03 67
DDM Multi-Stage $13.83 $20.17 $26.88 67
Multiples
P/E Multiple $16.30 $21.74 $27.17 63
P/B Multiple $17.52 $23.36 $29.20 55
Asset-Based
NCAV (Graham) $8.34 $11.18 $16.68 54
Economic Profit
Residual Income $14.58 $16.07 $19.01 76

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Quality Score breakdown

Overall quality 57/100

Of which business quality 53 · Market factors (momentum, volatility) 55

Profitability 35
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 82
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. 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.8%
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.
+1.8%
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.
+8.3%
Start year 2020 (pandemic)
Revenue growth 6 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.
+4.1%
What shareholders gained per year (last 5 years) ⓘ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.
+15.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.9%
Dividend (yield on the price)7.0%

Growth Forecast

Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what 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).
+5.9%
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.
+5.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +3.6% a year for the price and +3.5% for the forecasts.
Forecast 2026 (sales)+13.3%
Forecast 2027 (sales)+4.4%
Projected 2028 (sales)+4.1%
Projected 2029 (sales)+3.8%
Projected 2030 (sales)+3.5%

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Values & ESG

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SCOR SE SCR €31.38 €37.15 +18%
China Reinsurance (Group) Corporation 1508 HK$1.21 HK$2.41 +100%
General Insurance Corporation GICRE ₹337.50 ₹406.44 +20%
Hamilton Insurance Group HG $33.23 $52.40 +58%

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Cite: Fair Value Calculator (2026). "COFACE SA Fair Value". https://www.fairvalue-calculator.com/stock/CFACY

Frequently asked questions

Is COFACE SA (CFACY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $21.52 versus a price of $17.92, about +20% upside (undervalued).
What is the fair value of CFACY?
Our model-based fair value for COFACE SA is $21.52 (as of Sep 24, 2026), built from audited fundamentals. The current price: $17.92.
What is the quality score of CFACY?
COFACE SA has a Quality Score of 57/100. 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 COFACE SA (CFACY)?
Our model-based price target is the fair value of $21.52 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario $15.38, optimistic scenario $26.90. It is a calculation from audited fundamentals, not an analyst target.
What is the COFACE SA stock forecast for 2026?
Our models put fair value at $21.52, about +20% upside versus a price of $17.92 (undervalued). Cautious scenario $15.38, optimistic scenario $26.90. The calculation is refreshed regularly with new filings.
What is the revenue of COFACE SA (CFACY)?
COFACE SA reported trailing-twelve-month revenue of about €1.8B (latest available figure, as of Sep 24, 2026).
Does COFACE SA pay a dividend?
COFACE SA currently shows a dividend yield of about 6.98% relative to its recent price (as of Sep 24, 2026).
What growth is priced into COFACE SA (CFACY)?
For today's price to be fair in a discounted-cash-flow model, COFACE SA would have to grow free cash flow by +5.9 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CFACY use?
Our models discount COFACE SA at 8.5 %: a base by market capitalisation (mid), damped by beta 0.48, 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 COFACE SA that is +5.9 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has COFACE SA (CFACY) delivered so far?
Over the past 5 years revenue at COFACE SA grew +8.3 % a year. The price currently implies +5.9 % 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 COFACE SA (CFACY) growing?
The median revenue growth in the sector is +9.7 % a year. That is the yardstick for the growth priced into COFACE SA (+5.9 % 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 COFACE SA (CFACY)?
The free-cash-flow yield on the price is 8.94 %: that much free cash flow COFACE SA produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of COFACE SA (CFACY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For COFACE SA it is $21.52 per share (as of Sep 24, 2026), against a price of $17.92. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is COFACE SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CFACY trades below its calculated fair value: price $17.92, fair value $21.52, a gap of about +20% (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 CFACY?
No. The price is what the market pays today ($17.92); the fair value is what the company's own numbers justify ($21.52). For COFACE SA the two are $3.60 per share apart. That gap is exactly why we show both numbers side by side.
How much is COFACE SA worth?
The market values COFACE SA at about $2.7B (market capitalisation, as of Sep 24, 2026). Per share that is $17.92; our models calculate a fair value of $21.52 per share.
What do the bullish and bearish scenarios say about CFACY?
Our models span a range for COFACE SA: cautious scenario $15.38, base $21.52, optimistic $26.90 per share (as of Sep 24, 2026, price $17.92). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is CFACY from its 52-week high?
COFACE SA trades at $17.92, about 11% below its 52-week high of $20.03 and 18% above the low of $15.14 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of $21.52 is for.
Which stocks are comparable to COFACE SA?
From the same area (Financial Services) we also value MUV2, Swiss Re AG, Hannover Rück SE, Reinsurance Group, 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 COFACE SA stock attractive at the current price?
The data as of Sep 24, 2026: price $17.92, calculated fair value $21.52 (+20%), Quality Score 57/100, from 6 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 CFACY calculated?
We run COFACE SA through 6 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 $21.52, 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. COFACE SA currently trades 17 % 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 COFACE SA (CFACY)?
The closing price on Oct 1, 2026 was $17.92. Our model-based fair value is $21.52, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with COFACE SA right now?
Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of COFACE SA

How large is the market capitalisation of COFACE SA (CFACY)?
The market capitalisation of COFACE SA is $2.7B. 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/E ratio of COFACE SA (CFACY)?
The price-to-earnings ratio of COFACE SA is 10.8. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of COFACE SA (CFACY)?
The price-to-sales ratio of COFACE SA is 1.44 (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 COFACE SA (CFACY)?
Earnings per share at COFACE SA are $1.66 (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of COFACE SA (CFACY)?
The dividend yield of COFACE SA is 7.0% (payout 75.3%). 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 COFACE SA (CFACY)?
The net margin of COFACE SA is 13.4% (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 COFACE SA (CFACY)?
The return on equity (ROE) of COFACE SA is 9.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of COFACE SA (CFACY)?
The return on assets (ROA) of COFACE SA is 2.8% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of COFACE SA (CFACY)?
The operating margin of COFACE SA is 18.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at COFACE SA (CFACY)?
Revenue at COFACE SA is growing −0.1% versus a year earlier (3y avg +1.8%). 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 COFACE SA (CFACY)?
Earnings per share at COFACE SA are growing −13.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does COFACE SA (CFACY) carry?
The net debt of COFACE SA is €1.8B (fiscal year 2025, ≈ 8.3 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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