EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

Cellnex Telecom, S.A (CLNXF) fair value: what the stock is really worth

We calculate from audited financials what Cellnex Telecom, S.A is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Real Estate · US · ISIN US15117X1054

CT Cellnex Telecom, S.A logo Broad data Sep 13, 2026

Cellnex Telecom, S.A

CLNXF · US

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value $66.97 · Strongly undervalued (+126%)
!Quality 44/100
!Expensive Growth (revenue 5y +23.1 %/yr)
!Loss-making · -8.4% net margin (TTM)
✓Moderate debt · generates free cash flow
!Narrow moat 29/100

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

$70.55 $14.41 Fair Value $66.97 May 2017 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range $14.41 – $70.55 · fair‑value band $26.63 – $66.97 · the $29.69 price screens below the $66.97 fair value. Dashed = 300-day average. As of Sep 13, 2026.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Cellnex Telecom, S.A. engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

Show more

Cellnex Telecom, S.A. engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria. It operates through four segments: Towers; DAS, Small Cells, and RAN as a Service; Fiber, Connectivity, and Housing Services; and Broadcast. The Towers segment provides integrated network passive infrastructure services; other wireless telecommunications; and broadband network operators services, as well as colocation and engineering services. The DAS, Small Cells, and RAN as a Service segment offers services, such as RAN as a Service, which entails the emission and transmission active services; PPDR services comprising active infrastructure management for public administrations, including TETRA and 4G/LTE mission critical service networks; operation and maintenance; infrastructure support services; and other services that include smart cities/Internet of Things. The Fiber, Connectivity, and Housing Services segment provides data transport through fiber, including fibre-to-the-tower (FTTT), connectivity, backhaul transmission, and hosting services in edge data centers infrastructure. The broadcast segment engages in the distribution and transmission of television and radio signals; operation and maintenance of broadcasting networks; provision of connectivity for media content and over-the-top (OTT) broadcasting services; and other services, as well as offers coverage of the digital terrestrial television (DTT) services. The company also offers fixed and mobile telecommunication services; and provision of telecommunications equipment. In addition, it constructs and operates optic fiber telecommunications. The company was formerly known as Abertis Telecom Terrestre, S.A.U. and changed its name to Cellnex Telecom, S.A. in April 2015. Cellnex Telecom, S.A. was incorporated in 2008 and is headquartered in Madrid, Spain.

Stock analysis

Cellnex Telecom, S.A (CLNXF) currently trades at $29.69, while our model-based Fair Value estimate is $66.97, implying the stock looks roughly 55.7% undervalued today.

Show more

Valuation

Bull case: the DCF Models group reads highest at a median of $68.97 per share, and 3 of the 7 models we run sit above the $29.69 price.

Bear case: the Asset-Based group reads lowest at $12.19, and 4 of the 7 models stay below the price. Evidence for this calculation is high.

Scenario range: $26.63 (bear) to $66.97 (bull), the price of $29.69 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 44/100 (below-average quality), in the Real Estate sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Cellnex Telecom, S.A reported revenue of €4.4B in FY2025 versus €2.4B in FY2021, a compound +16.0%/yr. Reported net income was −€361M in FY2025.

Key figures

Market cap $21.9B · P/S ratio 5.30 · EPS (TTM) $−0.6000 · Net margin −8.2% · Return on equity −2.4% · Return on assets (EBIT) 0.7% · Operating margin 16.3% · Revenue (TTM) $4.1B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).

What moves the price

The share trades about 24% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −45% fair-value upside, at 126%, CLNXF screens cheaper than that median.

Fair Value models

Bear $26.63 Fair Value $66.97 Bull $66.97
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 n/a n/a $22.02 77
Growth DCF n/a $0.1000 $21.82 75
5Y Revenue Exit n/a n/a $9.88 69
All 12 models by family
DCF Models
FCF DCF n/a n/a $22.02 77
5Y Revenue Exit n/a n/a $9.88 69
5Y EBITDA Exit $24.74 $77.50 $174.34 68
10Y Revenue Exit n/a n/a $8.77 64
10Y EBITDA Exit $14.18 $68.97 $173.09 59
Dividend Discount
Gordon GGM $0.1600 $0.3400 $0.5400 66
DDM Multi-Stage $0.1600 $0.2900 $0.3600 66
Multiples
EV/EBIT n/a n/a $1.49 61
EV/EBITDA $39.95 $60.98 $82.02 66
Asset-Based
NCAV (Graham) $9.09 $12.19 $18.19 54
Growth DCF
Growth DCF n/a $0.1000 $21.82 75
Rev-Margin DCF n/a n/a $8.79 69

Open the full fair value analysis →

Notify me when CLNXF reaches fair value

Put CLNXF on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 27

Profitability 5
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 91
Share count: buybacks or dilution?

Open the full quality analysis →

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. 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.5%
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.
+10.8%
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.
+23.1%
Revenue growth 14 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.
+18.6%
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.
10.1% (2020) → 13.5% (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

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than 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).
+34.5%
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.
+2.9%
Yearly sales growth analysts expect, extended to five years.
Forecast 2026 (sales)−1.5%
Forecast 2027 (sales)+4.5%
Projected 2028 (sales)+4.2%
Projected 2029 (sales)+3.9%
Projected 2030 (sales)+3.6%

Watch CLNXF, get fair value alerts →

Earlier news

News mood ⓘNews mood, the average tone of recent news (55 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Negative
Recent news coverage is more negative than average.

Compare Cellnex Telecom, S.A with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

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 Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 243,300 VND 25,731 VND −89%
CBRE Group CBRE $140.51 $77.03 −45%
Vonovia SE VNA €18.11 €36.67 +103%
KE Holdings BEKE $16.93 $7.14 −58%
Jones Lang LaSalle Incorporated JLL $346.97 $485.15 +40%
Swire Properties Limited 1972 HK$24.40 HK$12.35 −49%
CoStar Group CSGP $30.46 $5.00 −84%
China Resources Mixc Lifestyle Services Limited 1209 HK$38.16 HK$55.27 +45%
CapitaLand Investment Limited 9CI 2.60 SGD 0.4900 SGD −81%
Plaza S.A MALLPLAZA 3,850 CLP 5,112 CLP +33%

Explore undervalued stocks

More undervalued Real Estate stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

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.

Cellnex Telecom, S.A · Fair Value
$66.97 +56%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Cellnex Telecom, S.A Fair Value". https://www.fairvalue-calculator.com/stock/CLNXF

Frequently asked questions

Is Cellnex Telecom, S.A (CLNXF) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $66.97 versus a price of $29.69, about +126% upside (undervalued).
What is the fair value of CLNXF?
Our model-based fair value for Cellnex Telecom, S.A is $66.97 (as of Sep 13, 2026), built from audited fundamentals. The current price: $29.69.
What is the quality score of CLNXF?
Cellnex Telecom, S.A has a Quality Score of 44/100. 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 Cellnex Telecom, S.A (CLNXF)?
Our model-based price target is the fair value of $66.97 (as of Sep 13, 2026) from 12 valuation models. Cautious scenario $26.63, optimistic scenario $66.97. It is a calculation from audited fundamentals, not an analyst target.
What is the Cellnex Telecom, S.A stock forecast for 2026?
Our models put fair value at $66.97, about +126% upside versus a price of $29.69 (undervalued). Cautious scenario $26.63, optimistic scenario $66.97. The calculation is refreshed regularly with new filings.
What is the revenue of Cellnex Telecom, S.A (CLNXF)?
Cellnex Telecom, S.A reported trailing-twelve-month revenue of about $4.1B (latest available figure, as of Sep 13, 2026).
What growth is priced into Cellnex Telecom, S.A (CLNXF)?
For today's price to be fair in a discounted-cash-flow model, Cellnex Telecom, S.A would have to grow free cash flow by +34.5 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.1 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of CLNXF use?
Our models discount Cellnex Telecom, S.A at 9.9 %: a base by market capitalisation (large), damped by beta 1.28, 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 Cellnex Telecom, S.A that is +34.5 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Cellnex Telecom, S.A (CLNXF) delivered so far?
Over the past 5 years revenue at Cellnex Telecom, S.A grew +23.1 % a year. The price currently implies +34.5 % 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 Cellnex Telecom, S.A (CLNXF) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Cellnex Telecom, S.A (+34.5 % 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 Cellnex Telecom, S.A (CLNXF)?
The free-cash-flow yield on the price is 2.63 %: that much free cash flow Cellnex Telecom, S.A produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cellnex Telecom, S.A (CLNXF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cellnex Telecom, S.A it is $66.97 per share (as of Sep 13, 2026), against a price of $29.69. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Cellnex Telecom, S.A stock overvalued or undervalued in 2026?
As of Sep 13, 2026, CLNXF trades below its calculated fair value: price $29.69, fair value $66.97, a gap of about +126% (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 CLNXF?
No. The price is what the market pays today ($29.69); the fair value is what the company's own numbers justify ($66.97). For Cellnex Telecom, S.A the two are $37.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cellnex Telecom, S.A worth?
The market values Cellnex Telecom, S.A at about $21.9B (market capitalisation, as of Sep 13, 2026). Per share that is $29.69; our models calculate a fair value of $66.97 per share.
What do the bullish and bearish scenarios say about CLNXF?
Our models span a range for Cellnex Telecom, S.A: cautious scenario $26.63, base $66.97, optimistic $66.97 per share (as of Sep 13, 2026, price $29.69). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is CLNXF from its 52-week high?
Cellnex Telecom, S.A trades at $29.69, about 24% below its 52-week high of $39.19 and 5% above the low of $28.30 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $66.97 is for.
Which stocks are comparable to Cellnex Telecom, S.A?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, KE 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 Cellnex Telecom, S.A stock attractive at the current price?
The data as of Sep 13, 2026: price $29.69, calculated fair value $66.97 (+126%), Quality Score 44/100, from 12 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 CLNXF calculated?
We run Cellnex Telecom, S.A through 12 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 $66.97, 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 15.8 % above its aggregate fair value. Cellnex Telecom, S.A currently trades 126 % 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 should I pay attention to with Cellnex Telecom, S.A right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. A fairly wide model range ($26.63 to $66.97) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Cellnex Telecom, S.A

How large is the market capitalisation of Cellnex Telecom, S.A (CLNXF)?
The market capitalisation of Cellnex Telecom, S.A is $21.9B. 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 Cellnex Telecom, S.A (CLNXF)?
The price-to-sales ratio of Cellnex Telecom, S.A is 5.30 (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 Cellnex Telecom, S.A (CLNXF)?
Earnings per share at Cellnex Telecom, S.A are $−0.6000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cellnex Telecom, S.A (CLNXF)?
The net margin of Cellnex Telecom, S.A is −8.2% (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 Cellnex Telecom, S.A (CLNXF)?
The return on equity (ROE) of Cellnex Telecom, S.A is −2.4% (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 Cellnex Telecom, S.A (CLNXF)?
On an EBIT basis the return on assets of Cellnex Telecom, S.A is 0.7% (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 Cellnex Telecom, S.A (CLNXF)?
The operating margin of Cellnex Telecom, S.A is 16.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cellnex Telecom, S.A (CLNXF)?
Revenue at Cellnex Telecom, S.A is growing −8.4% versus a year earlier (3y avg +10.8%). 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 Cellnex Telecom, S.A (CLNXF)?
Earnings per share at Cellnex Telecom, S.A are growing −85.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cellnex Telecom, S.A (CLNXF) carry?
The net debt of Cellnex Telecom, S.A is $20.4B (fiscal year 2025, ≈ 38.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Continue in the live analysis

Fair value and trend for 35,000+ stocks, watchlist, comparison and the diversification check. You can also try 14 days of Pro there, no card.

Open the live analysis →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.