Comelf SA (CMF) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Comelf SA stock RON 3.39, price RON 4.36, that is 22.2% below the price, quality 55 out of 100. Rating: overvalued. Calculated from audited financials with 21 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 1.09 RON – 6.87 RON · fair‑value band 2.55 RON – 4.40 RON · the 4.36 RON price screens above the 3.39 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Comelf S.A. engages in the manufacture and sale of engines and turbines in Romania and internationally. It operates through Stainless Steel Products Factory; Earthmoving Machinery and Equipment, Filters and Electrofilters Factory; and Earthmoving Components and Machines Factory segments.
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The company offers various industrial equipment and components, including energy industry, earthmoving machinery, military industry, naval equipment, railway equipment, hydromechanical equipment, and tanks and pressure vessels.
It also provides laboratory services and measurements and manufacturing services. The company was incorporated in 1991 and is headquartered in Bistrita, Romania. Comelf S.A. is a subsidiary of Uzinsider SA.
Stock analysis
Comelf SA (CMF) currently trades at 4.36 RON, while our model-based Fair Value estimate is 3.39 RON, 22% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 4.53 RON per share, and 6 of the 21 models we run sit above the 4.36 RON price.
Bear case: the Earnings-Based group reads lowest at 2.38 RON, and 15 of the 21 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2.55 RON (bear) to 4.40 RON (bull), the price of 4.36 RON 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 55/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Comelf SA reported revenue of 161M RON in FY2025 versus 139M RON in FY2021, a compound +3.7%/yr. Reported net income was 4.8M RON in FY2025, compounding +2.8%/yr from FY2021.
Key figures
Market cap 98.0M RON (≈ $20.5M) Micro · P/E ratio 20.8 · P/S ratio 0.57 · EPS (TTM) 0.2100 RON · Net margin 2.8% · Return on equity 6.3% · Return on assets (EBIT) 5.7% (5-year average) · Operating margin 6.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −22%, CMF screens cheaper than that median.
Fair Value models
Bear2.55 RONFair Value 3.39 RONBull4.40 RON
Price 4.36 RON · Downside -22.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.1801 RON 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.Coverage ⓘCoverage = 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.54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.2%
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.
−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.
+7.0%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
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.
+6.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.5%
Dividend (yield on the price)0.0%
Profit margin 2020 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.4% → 5%
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+37.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Romania: IMF forecast 4.3% a year to 2030, 5.2% from 2016 to 2025) that is about +31.9% 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.Specialty Industrial Machinery · 813 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−22.2% · Above median
Profitability
Return on equity (12 months)6.3% · Below median
Return on assets3.0% · Below median
Net margin (12 months)2.8% · Below median
Operating margin (12 months)6.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)15.2% · Above median
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Specialty Industrial Machinery 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). "Comelf SA Fair Value". https://www.fairvalue-calculator.com/stock/CMF
Frequently asked questions
Is Comelf SA (CMF) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 3.39 RON versus a price of 4.36 RON, about 22% lower (overvalued).
What is the fair value of CMF?
Our model-based fair value for Comelf SA is 3.39 RON (as of Nov 3, 2026), built from audited fundamentals. The current price: 4.36 RON.
What is the quality score of CMF?
Comelf SA has a Quality Score of 55/100. 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 Comelf SA (CMF)?
Our model-based price target is the fair value of 3.39 RON (as of Nov 3, 2026) from 21 valuation models. Cautious scenario 2.55 RON, optimistic scenario 4.40 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the Comelf SA stock forecast for 2026?
Our models put fair value at 3.39 RON, about 22% lower versus a price of 4.36 RON (overvalued). Cautious scenario 2.55 RON, optimistic scenario 4.40 RON. The calculation is refreshed regularly with new filings.
What is the revenue of Comelf SA (CMF)?
Comelf SA reported trailing-twelve-month revenue of about 171M RON (latest available figure, as of Nov 3, 2026).
What growth is priced into Comelf SA (CMF)?
For today's price to be fair in a discounted-cash-flow model, Comelf SA would have to grow free cash flow by +37.7 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.0 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of CMF use?
Our models discount Comelf SA at 10.9 %: a base by market capitalisation (nano), damped by beta 0.37, country premium for Romania. 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 Comelf SA that is +37.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Comelf SA (CMF) delivered so far?
Over the past 5 years revenue at Comelf SA grew +7.0 % a year. The price currently implies free-cash-flow growth of +37.7 % per 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 Comelf SA (CMF) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Comelf SA (+37.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Comelf SA (CMF)?
The free-cash-flow yield on the price is 1.76 %: that much free cash flow Comelf SA produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Comelf SA (CMF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Comelf SA it is 3.39 RON per share (as of Nov 3, 2026), against a price of 4.36 RON. It is the blended result of 21 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Comelf SA stock overvalued or undervalued in 2026?
As of Nov 3, 2026, CMF trades above its calculated fair value: price 4.36 RON, fair value 3.39 RON, a gap of about −22% (overvalued). 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 CMF?
No. The price is what the market pays today (4.36 RON); the fair value is what the company's own numbers justify (3.39 RON). For Comelf SA the two are 0.9700 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is Comelf SA worth?
The market values Comelf SA at about 98.0M RON (market capitalisation, as of Nov 3, 2026). Per share that is 4.36 RON; our models calculate a fair value of 3.39 RON per share.
What do the bullish and bearish scenarios say about CMF?
Our models span a range for Comelf SA: cautious scenario 2.55 RON, base 3.39 RON, optimistic 4.40 RON per share (as of Nov 3, 2026, price 4.36 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CMF?
Comelf SA trades at a price-to-earnings ratio of 20.8 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.39 RON is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 12.9. Other multiples: P/B 1.3, P/S 0.6, EV/EBITDA 6.4.
How solid is the balance sheet of Comelf SA (CMF)?
Balance-sheet figures for Comelf SA (as of Nov 3, 2026): return on equity 6.3%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is CMF from its 52-week high?
Comelf SA trades at 4.36 RON, about 10% below its 52-week high of 4.84 RON and 8% above the low of 4.04 RON (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 3.39 RON is for.
Which stocks are comparable to Comelf SA?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, 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 Comelf SA stock attractive at the current price?
The data as of Nov 3, 2026: price 4.36 RON, calculated fair value 3.39 RON (−22%), Quality Score 55/100, from 21 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 CMF calculated?
We run Comelf SA through 21 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 3.39 RON builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Comelf SA 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 Comelf SA (CMF)?
The closing price on Nov 6, 2026 was 4.36 RON. Our model-based fair value is 3.39 RON, about 22% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Comelf SA right now?
Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Comelf SA
How large is the market capitalisation of Comelf SA (CMF)?
The market capitalisation of Comelf SA is 98.0M RON (≈ $20.5M). 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 Comelf SA (CMF)?
The price-to-sales ratio of Comelf SA is 0.57 (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 Comelf SA (CMF)?
Earnings per share at Comelf SA are 0.2100 RON (price ÷ EPS = P/E 20.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Comelf SA (CMF)?
The net margin of Comelf SA is 2.8% (last twelve months). 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 Comelf SA (CMF)?
The return on equity (ROE) of Comelf SA is 6.3% (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 Comelf SA (CMF)?
On an EBIT basis the return on assets of Comelf SA is 5.7% (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 Comelf SA (CMF)?
The operating margin of Comelf SA is 6.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Comelf SA (CMF)?
Revenue at Comelf SA is growing +15.2% 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 Comelf SA (CMF)?
Earnings per share at Comelf SA are growing +14.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Comelf SA (CMF) carry?
The net debt of Comelf SA is 25.5M RON (fiscal year 2025, ≈ 14.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 3, 2026