Enaex S.A (ENAEX) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Enaex S.A CLP 24,772, price CLP 24,280, upside +2.0%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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
60‑month range 3,511 CLP – 25,617 CLP · fair‑value band 15,227 CLP – 33,005 CLP · the 24,280 CLP price screens below the 24,772 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Enaex S.A., together its subsidiaries, produces and sells explosives in Chile, Argentina, Peru, Brazil, South Africa, Australia, and internationally.
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Enaex S.A., together its subsidiaries, produces and sells explosives in Chile, Argentina, Peru, Brazil, South Africa, Australia, and internationally. The company offers ammonium nitrate; non-explosive fracturer; bulk explosives, including heavy anfo pumpable and auger, pumpable emulsions with small diameter, and aquagels; emulsions and boosters; and initiation systems, such as conventional and electronic detonators, detonating cord, non-electronic initiation system, and accessories. It also provides open pit; underground; and technical mining services. In addition, the company offers courses that cover drill and blast processes; Enaex Academy, a knowledge management system; blasting and rock fragmentation services; and virtual reality training. Enaex S.A. was incorporated in 1920 and is headquartered in Las Condes, Chile. Enaex S.A. is a subsidiary of Sigdo Koppers S.A.
Stock analysis
Enaex S.A (ENAEX) currently trades at 24,280 CLP, while our model-based Fair Value estimate is 24,772 CLP, implying the stock looks roughly 2.0% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 27,771 CLP per share, and 16 of the 26 models we run sit above the 24,280 CLP price.
Bear case: the Asset-Based group reads lowest at 5,122 CLP, and 10 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 15,227 CLP (bear) to 33,005 CLP (bull), the price of 24,280 CLP 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 60/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Enaex S.A reported revenue of $2.2B in FY2025 versus $1.2B in FY2021, a compound +16.8%/yr. Reported net income was $187M in FY2025, compounding +18.9%/yr from FY2021.
Key figures
Market cap 3.0T CLP (≈ $3.0B) · P/E ratio 15.4 · P/S ratio 1.33 · EPS (TTM) 1,575 CLP · Dividend yield 0.0% · Net margin 8.6% · Return on equity 20.4% · Return on assets (EBIT) 12.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at 2%, ENAEX screens cheaper than that median.
Fair Value models
Bear 15,227 CLPFair Value 24,772 CLPBull 33,005 CLP
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 (1,151 CLP 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.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.
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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+12.9%
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.
+3.5%
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.
+21.3%
Start year 2020 (pandemic). Over 10 years: +11.0% a year
Revenue growth 11 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.
+11.6%
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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.
+18.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.0%
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.16% → 14%
Growth Forecast
Little optimism in the price
The price assumes less 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).
+15.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +13.0% 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 Chemicals · 714 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+2% · Above median
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)9% · Above median
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth25% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.40× · Highest 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Enaex S.A Fair Value". https://www.fairvalue-calculator.com/stock/ENAEX
Frequently asked questions
Is Enaex S.A (ENAEX) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 24,772 CLP versus a price of 24,280 CLP, about +2% upside (fairly valued).
What is the fair value of ENAEX?
Our model-based fair value for Enaex S.A is 24,772 CLP (as of Sep 24, 2026), built from audited fundamentals. The current price: 24,280 CLP.
What is the quality score of ENAEX?
Enaex S.A has a Quality Score of 60/100. 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 Enaex S.A (ENAEX)?
Our model-based price target is the fair value of 24,772 CLP (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 15,227 CLP, optimistic scenario 33,005 CLP. It is a calculation from audited fundamentals, not an analyst target.
What is the Enaex S.A stock forecast for 2026?
Our models put fair value at 24,772 CLP, about +2% upside versus a price of 24,280 CLP (fairly valued). Cautious scenario 15,227 CLP, optimistic scenario 33,005 CLP. The calculation is refreshed regularly with new filings.
What is the revenue of Enaex S.A (ENAEX)?
Enaex S.A reported trailing-twelve-month revenue of about $2.3B (latest available figure, as of Sep 24, 2026).
Does Enaex S.A pay a dividend?
Enaex S.A currently shows a dividend yield of about 0.00% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Enaex S.A (ENAEX)?
For today's price to be fair in a discounted-cash-flow model, Enaex S.A would have to grow free cash flow by +15.7 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +21.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ENAEX use?
Our models discount Enaex S.A at 9.3 %: a base by market capitalisation (mid), damped by beta 0.01, country premium for Chile. 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 Enaex S.A that is +15.7 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Enaex S.A (ENAEX) delivered so far?
Over the past 5 years revenue at Enaex S.A grew +21.3 % a year. The price currently implies +15.7 % 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 Enaex S.A (ENAEX) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Enaex S.A (+15.7 % 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 Enaex S.A (ENAEX)?
The free-cash-flow yield on the price is 3.74 %: that much free cash flow Enaex S.A produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Enaex S.A (ENAEX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Enaex S.A it is 24,772 CLP per share (as of Sep 24, 2026), against a price of 24,280 CLP. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Enaex S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ENAEX trades below its calculated fair value: price 24,280 CLP, fair value 24,772 CLP, 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 ENAEX?
No. The price is what the market pays today (24,280 CLP); the fair value is what the company's own numbers justify (24,772 CLP). For Enaex S.A the two are 492.49 CLP per share apart. That gap is exactly why we show both numbers side by side.
How much is Enaex S.A worth?
The market values Enaex S.A at about 3.0T CLP (market capitalisation, as of Sep 24, 2026). Per share that is 24,280 CLP; our models calculate a fair value of 24,772 CLP per share.
What do the bullish and bearish scenarios say about ENAEX?
Our models span a range for Enaex S.A: cautious scenario 15,227 CLP, base 24,772 CLP, optimistic 33,005 CLP per share (as of Sep 24, 2026, price 24,280 CLP). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ENAEX?
Enaex S.A trades at a price-to-earnings ratio of 15.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 24,772 CLP is built from several models across several years. Other multiples: P/B 3.1, P/S 1.3, EV/EBITDA 8.1.
How solid is the balance sheet of Enaex S.A (ENAEX)?
Balance-sheet figures for Enaex S.A (as of Sep 24, 2026): return on equity 20.4%, debt of 0.40 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is ENAEX from its 52-week high?
Enaex S.A trades at 24,280 CLP, about 5% below its 52-week high of 25,617 CLP and 22% above the low of 19,908 CLP (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 24,772 CLP is for.
Which stocks are comparable to Enaex S.A?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Enaex S.A stock attractive at the current price?
The data as of Sep 24, 2026: price 24,280 CLP, calculated fair value 24,772 CLP (+2%), Quality Score 60/100, from 26 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 ENAEX calculated?
We run Enaex S.A through 26 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 24,772 CLP, 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 14.1 % above its aggregate fair value. Enaex S.A currently trades 2 % 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 Enaex S.A (ENAEX)?
The closing price on Sep 23, 2026 was 24,280 CLP. Our model-based fair value is 24,772 CLP, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Enaex S.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (15,227 CLP to 33,005 CLP) leaves room in how you read the outcome.
Key figures of Enaex S.A
How large is the market capitalisation of Enaex S.A (ENAEX)?
The market capitalisation of Enaex S.A is 3.0T CLP (≈ $3.0B). 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 Enaex S.A (ENAEX)?
The price-to-sales ratio of Enaex S.A is 1.33 (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 Enaex S.A (ENAEX)?
Earnings per share at Enaex S.A are 1,575 CLP (price ÷ EPS = P/E 15.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Enaex S.A (ENAEX)?
The dividend yield of Enaex S.A is 0.0% (payout 0.1%). 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 Enaex S.A (ENAEX)?
The net margin of Enaex S.A is 8.6% (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 Enaex S.A (ENAEX)?
The return on equity (ROE) of Enaex S.A is 20.4% (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 Enaex S.A (ENAEX)?
On an EBIT basis the return on assets of Enaex S.A is 12.9% (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 Enaex S.A (ENAEX)?
The operating margin of Enaex S.A is 13.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Enaex S.A (ENAEX)?
Revenue at Enaex S.A is growing +24.7% versus a year earlier (3y avg +3.5%). 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 Enaex S.A (ENAEX)?
Earnings per share at Enaex S.A are growing +14.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Enaex S.A (ENAEX) carry?
The net debt of Enaex S.A is $324M (fiscal year 2025, ≈ 2.9 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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