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CNDF Fair Value & Analysis

Financial Services · FR · Market cap €1.7B

C CNDF CNDF · PA
Price€29.78
Fair Value€57.56
Upside+93.3%
Quality53/100
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Expensive Growth
Highly profitable · 27.1% net margin
Low debt · negative free cash flow
2.91% dividend yield
Ranks above peers (8/13)
Moderate moat 57/100
Evidence: High Range €43.17 – €71.95 Share as image

Fair value as of: Jul 12, 2026

From 6 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from €55.87 to €57.56 (+3.0%) since Jun 26, 2026. Share price +1.4% over the past month.

A solid business, screening 93% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€43.17). The market is more pessimistic than our downside scenario.
  • Solid quality (53/100) 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.
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Price vs Fair Value (5 years)

€36.90 €10.07 Fair Value €57.56 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range €10.07 – €36.90 · fair‑value band €43.17 – €71.95 · the €29.78 price screens below the €57.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

CNDF (CNDF) currently trades at €29.78, while our model-based Fair Value estimate is €57.56, implying the stock looks roughly 93.3% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, CNDF generated revenue of €636M at a net margin of 26.0%. Revenue grew 1.0% year over year. It earns a return on equity of 2.9%. The balance sheet holds a net cash position of €2.6B. Fundamentals as of Jul 12, 2026

Our scenario range runs from €43.17 (bear case) to €71.95 (bull case); at €29.78, the current price sits below 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 2% below its 52-week high and 76% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 93%, CNDF screens cheaper 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 €76.09 €71.48 €54.85 76
Gordon GGM €5.19 €9.35 €12.87 70
P/E Multiple €53.77 €71.69 €89.61 63
All 6 models by family
Dividend Discount
Gordon GGM €5.19 €9.35 €12.87 70
DDM Multi-Stage €5.19 €8.54 €9.99 61
Multiples
P/E Multiple €53.77 €71.69 €89.61 63
P/B Multiple €41.55 €55.39 €69.24 55
Asset-Based
NCAV (Graham) €56.23 €75.35 €112.47 50
Economic Profit
Residual Income €76.09 €71.48 €54.85 76

Widest divergence: Asset-Based (€75.35) versus Dividend Discount (€8.54). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) €671M
Revenue growth (YoY) +12.6%
Net margin 27.1%
Return on equity 3.0%
Free cash flow −€154M FY2025
P/E ratio 9.5
More key figures
Operating margin 25.6%
EPS (TTM) €3.15
Dividend yield 2.9%
EPS growth (YoY) -7.8%
Net cash €2.6B FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 45 · Market factors (momentum, volatility) 73

Profitability 21
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 81
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

Caisse Régionale de Crédit Agricole Mutuel Nord de France Société cooperative provides banking products and financial services in France. The company offers savings support products, including monetary, bonds, and securities; and loans primarily for housing and consumption.

Full company description

Caisse Régionale de Crédit Agricole Mutuel Nord de France Société cooperative provides banking products and financial services in France. The company offers savings support products, including monetary, bonds, and securities; and loans primarily for housing and consumption. It also provides life insurance, as well as insurance products for banking risk, financial losses, and multi-risk, as well as coverage for civil liabilities insurance products. In addition, it offers asset management and brokerage services. It serves individuals, farmers, professionals, businesses, and local authorities. The company was founded in 1894 and is headquartered in Lille, France. Caisse Régionale de Crédit Agricole Mutuel Nord de France Société coopérative operates as a subsidiary of Crédit Agricole S.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CNDF reported revenue of €1.5B in FY2025 versus €620M in FY2021, a compound +23.7%/yr. Reported net income was €182M in FY2025, compounding +3.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€1.5B
Latest YoY
+121.5%
Avg. growth/yr (3Y)
+31.8%
Avg. growth/yr (5Y)
+21.9%
Avg. growth/yr (6Y)
+17.1%
Revenue +23.7%/yr
FY21 €620M
FY22 €635M
FY23 €602M
FY24 €657M
FY25 €1.5B
Net income +3.3%/yr
FY21 €160M
FY22 €170M
FY23 €137M
FY24 €173M
FY25 €182M

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

Peer Group

Banks - Regional · 1083 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 52 · Below median
Fair Value upside +93% · Top 25%
Return on equity (TTM) 3% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 27% · Below median
Operating margin (TTM) 26% · Bottom 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 2.9% · Above median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 9.1× · Cheaper than median
P/B 0.31× · Cheaper than 75% of peers
P/S (TTM) 2.87× · Cheaper than median
PEG 0.30× · 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 100 · sector 39
FUTURE 63 · sector 44
PAST 12 · sector 41
HEALTH 100 · sector 85
DIVIDEND 58 · sector 49

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

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

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is CNDF overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of €57.56 versus a price of €29.78, about +93% (undervalued).
What is the fair value of CNDF?
Our model-based fair value for CNDF is €57.56 (as of Jul 12, 2026), built from audited fundamentals. The current price is €29.78.
What is the quality score of CNDF?
CNDF has a Quality Score of 53/100. 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 CNDF?
CNDF reported trailing-twelve-month revenue of about €636M (latest available figure, as of Jul 12, 2026).
What is the net profit margin of CNDF?
The net profit margin of CNDF is about 26.0%, meaning it keeps roughly 26.0% of revenue as net income. Based on the latest reported figures.
Does CNDF pay a dividend?
CNDF currently shows a dividend yield of about 2.36% relative to its recent price (as of Jul 12, 2026).

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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