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Conygar Investment Co PLC (CIC) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Conygar Investment Co PLC £0.27, price £0.28, upside -2.0%, quality 65 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 · GB · ISIN GB0033698720

CI Thin data Sep 23, 2026

Conygar Investment Co PLC

CIC · LSE

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value £0.2695 · Fairly valued (−2%)
✓Quality 65/100
!Mixed Growth (revenue 5y +67.2 %/yr)
!Loss-making · -29.5% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers (8/12)
!Narrow moat 42/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

£1.69 £0.2250 Fair Value £0.2695 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range £0.2250 – £1.69 · fair‑value band £0.1344 – £0.3482 · the £0.2750 price screens above the £0.2695 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

The Conygar Investment Company PLC (Conygar) is an AIM quoted property investment and development group dealing in UK property. Our aim is to invest in property assets and companies where we can add value using our property management, development and transaction structuring skills.

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The Conygar Investment Company PLC (Conygar) is an AIM quoted property investment and development group dealing in UK property. Our aim is to invest in property assets and companies where we can add value using our property management, development and transaction structuring skills. The business operates two major strands, being property investment and property development. Assets are recycled to release capital as opportunities present themselves and we will continue to buy-back shares where appropriate. However, in order to progress our pipeline of development projects, in particular at TIQ, we will need to raise substantial amounts either as debt, through asset sales, or from joint ventures and are continuing our discussions in that regard. The Conygar Investment Company PLC was established on September 22, 2003 and incorporated in United Kingdom.

Stock analysis

Conygar Investment Co PLC (CIC) currently trades at £0.2750, while our model-based Fair Value estimate is £0.2695, implying the stock looks roughly 2.0% fairly valued today.

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Valuation

Bull case: the Multiples group reads highest at a median of £2.59 per share, and 7 of the 7 models we run sit above the £0.2750 price.

Bear case: the Asset-Based group reads lowest at £0.4700, and 0 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: £0.1344 (bear) to £0.3482 (bull), the price of £0.2750 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 65/100 (solid quality), in the Real Estate sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Conygar Investment Co PLC reported revenue of £21.9M in FY2025 versus £2.6M in FY2021, a compound +69.7%/yr. Reported net income was −£19.5M in FY2025.

Key figures

Market cap 16.4M GBX · P/S ratio 0.46 · EPS (TTM) £−0.1600 · Net margin −89.3% · Return on equity −16.1% · Return on assets (EBIT) −9.0% · Operating margin 68.6% · Revenue (TTM) £32.1M.

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 26% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −2%, CIC screens richer than that median.

Fair Value models

Bear £0.1344 Fair Value £0.2695 Bull £0.3482
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. 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 £4.07 £6.24 £13.00 76
Growth DCF £3.83 £7.23 £12.72 75
5Y Revenue Exit £2.61 £4.25 £7.66 70
All 7 models by family
DCF Models
FCF DCF £4.07 £6.24 £13.00 76
5Y Revenue Exit £2.61 £4.25 £7.66 70
10Y Revenue Exit £3.01 £6.00 £7.74 66
Multiples
EV/Revenue £1.83 £2.59 £3.35 54
Asset-Based
NCAV (Graham) £0.3500 £0.4700 £0.7000 54
Growth DCF
Growth DCF £3.83 £7.23 £12.72 75
Rev-Margin DCF £2.68 £4.64 £8.55 69

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Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 51

Profitability 4
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 77
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. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+268.4%
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.
+45.8%
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.
+67.2%
Start year 2020 (pandemic). Over 10 years: +6.4% a year
Revenue growth 21 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.
+26.0%
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.
−70.5% (2020) → −64.9% (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

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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.Real Estate - Development · 578 stocks

Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 67 · Top 25%
Fair Value upside −2% · Below median
Profitability
Return on assets 7% · Top 25%
Net margin (TTM) −30% · Bottom 25%
Operating margin (TTM) 69% · Top 25%
Growth and dividend
Revenue growth 94% · Top 25%

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/B 0.52× · Cheaper than median
P/S (TTM) 0.68× · Cheaper than median
P/FCF 1.9× · Pricier than median
EV/EBITDA 1.3× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)31 · sector 48
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 11
HEALTH (low debt)100 · sector 83
DIVIDEND (yield)0 · sector 55

Context: sector, industry, market

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

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$109.10 HK$147.78 +35%
China Resources Land Limited 1109 HK$29.62 HK$74.05 +150%
Vinhomes Joint Stock Company VHM 68,200 VND 112,796 VND +65%
CK Asset Holdings 1113 HK$46.44 HK$71.69 +54%
Hongkong Land Holdings H78 $8.74 $1.52 −83%
DLF Limited DLF ₹675.00 ₹167.21 −75%
China Overseas Land & Investment Limited 0688 HK$12.43 HK$22.35 +80%
Lodha Developers Limited LODHA ₹1,163 ₹275.95 −76%
Poly Developments and Holdings 600048 ¥5.64 ¥14.10 +150%
CTP N.V CTPNV €13.58 €10.30 −24%

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Cite: Fair Value Calculator (2026). "Conygar Investment Co PLC Fair Value". https://www.fairvalue-calculator.com/stock/CIC

Frequently asked questions

Is Conygar Investment Co PLC (CIC) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of £0.2695 versus a price of £0.2750, about −2% upside (fairly valued).
What is the fair value of CIC?
Our model-based fair value for Conygar Investment Co PLC is £0.2695 (as of Sep 23, 2026), built from audited fundamentals. The current price: £0.2750.
What is the quality score of CIC?
Conygar Investment Co PLC has a Quality Score of 65/100. 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 Conygar Investment Co PLC (CIC)?
Our model-based price target is the fair value of £0.2695 (as of Sep 23, 2026) from 7 valuation models. Cautious scenario £0.1344, optimistic scenario £0.3482. It is a calculation from audited fundamentals, not an analyst target.
What is the Conygar Investment Co PLC stock forecast for 2026?
Our models put fair value at £0.2695, about −2% upside versus a price of £0.2750 (fairly valued). Cautious scenario £0.1344, optimistic scenario £0.3482. The calculation is refreshed regularly with new filings.
What is the revenue of Conygar Investment Co PLC (CIC)?
Conygar Investment Co PLC reported trailing-twelve-month revenue of about £32.1M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Conygar Investment Co PLC (CIC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Conygar Investment Co PLC it is £0.2695 per share (as of Sep 23, 2026), against a price of £0.2750. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Conygar Investment Co PLC stock overvalued or undervalued in 2026?
As of Sep 23, 2026, CIC trades above its calculated fair value: price £0.2750, fair value £0.2695, a gap of about −2% (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 CIC?
No. The price is what the market pays today (£0.2750); the fair value is what the company's own numbers justify (£0.2695). For Conygar Investment Co PLC the two are £0.0055 per share apart. That gap is exactly why we show both numbers side by side.
How much is Conygar Investment Co PLC worth?
The market values Conygar Investment Co PLC at about 16.4M GBX (market capitalisation, as of Sep 23, 2026). Per share that is £0.2750; our models calculate a fair value of £0.2695 per share.
What do the bullish and bearish scenarios say about CIC?
Our models span a range for Conygar Investment Co PLC: cautious scenario £0.1344, base £0.2695, optimistic £0.3482 per share (as of Sep 23, 2026, price £0.2750). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Conygar Investment Co PLC (CIC)?
Balance-sheet figures for Conygar Investment Co PLC (as of Sep 23, 2026): return on equity −16.1%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is CIC from its 52-week high?
Conygar Investment Co PLC trades at £0.2750, about 26% below its 52-week high of £0.3700 and 22% above the low of £0.2250 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of £0.2695 is for.
Which stocks are comparable to Conygar Investment Co PLC?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, 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 Conygar Investment Co PLC stock attractive at the current price?
The data as of Sep 23, 2026: price £0.2750, calculated fair value £0.2695 (−2%), Quality Score 65/100, from 7 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 CIC calculated?
We run Conygar Investment Co PLC through 7 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 £0.2695, 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 14.0 % above its aggregate fair value. Conygar Investment Co PLC 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 Conygar Investment Co PLC (CIC)?
The closing price on Sep 24, 2026 was £0.2750. Our model-based fair value is £0.2695, about −2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Conygar Investment Co PLC right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (£0.1344 to £0.3482) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Conygar Investment Co PLC

How large is the market capitalisation of Conygar Investment Co PLC (CIC)?
The market capitalisation of Conygar Investment Co PLC is 16.4M GBX. 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 Conygar Investment Co PLC (CIC)?
The price-to-sales ratio of Conygar Investment Co PLC is 0.46 (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 Conygar Investment Co PLC (CIC)?
Earnings per share at Conygar Investment Co PLC are £−0.1600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Conygar Investment Co PLC (CIC)?
The net margin of Conygar Investment Co PLC is −89.3% (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 Conygar Investment Co PLC (CIC)?
The return on equity (ROE) of Conygar Investment Co PLC is −16.1% (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 Conygar Investment Co PLC (CIC)?
On an EBIT basis the return on assets of Conygar Investment Co PLC is −9.0% (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 Conygar Investment Co PLC (CIC)?
The operating margin of Conygar Investment Co PLC is 68.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Conygar Investment Co PLC (CIC)?
Revenue at Conygar Investment Co PLC is growing +94.0% versus a year earlier (3y avg +45.8%). 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 Conygar Investment Co PLC (CIC)?
Earnings per share at Conygar Investment Co PLC are growing +373% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Conygar Investment Co PLC (CIC) generate?
The free cash flow of Conygar Investment Co PLC is 11.6M GBX (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Conygar Investment Co PLC (CIC) carry?
The net debt of Conygar Investment Co PLC is 44.8M GBX (fiscal year 2025, ≈ 3.9 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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