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Enaex S.A (ENAEX) Fair Value & Analysis

Basic Materials · CL · Market cap 3.1T CLP

ES Enaex S.A ENAEX · SN
Price25,008 CLP
Fair Value23,852 CLP
Upside-4.6%
Quality60/100
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Healthy Growth
Thin margins · 8.5% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Moderate moat 60/100
Evidence: Medium Range 15,349 CLP – 31,781 CLP Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 23,767 CLP to 23,852 CLP (+0.4%) since Jun 24, 2026. Share price +0.7% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (15,349 CLP to 31,781 CLP) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

25,117 CLP 3,511 CLP Fair Value 23,852 CLP Apr 2018 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 3,511 CLP – 25,117 CLP · fair‑value band 15,349 CLP – 31,781 CLP · the 25,008 CLP price screens above the 23,852 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Enaex S.A (ENAEX) currently trades at 25,008 CLP, while our model-based Fair Value estimate is 23,852 CLP, implying the stock looks roughly 4.6% fairly valued today. The Quality Score stands at 60/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Enaex S.A generated revenue of 2.3B CLP at a net margin of 8.5%. Revenue grew 24.7% year over year. It earns a return on equity of 20.4%. Net debt stands at 324M CLP. Fundamentals as of Jul 16, 2026

Our scenario range runs from 15,349 CLP (bear case) to 31,781 CLP (bull case); at 25,008 CLP, the current price sits within 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 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -5%, ENAEX 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
Growth DCF 10,825 CLP 20,345 CLP 37,702 CLP 80
Residual Income 9,308 CLP 11,593 CLP 33,909 CLP 76
Rev-Margin DCF 14,664 CLP 27,617 CLP 44,521 CLP 74
All 26 models by family
DCF Models
FCF DCF 10,899 CLP 21,187 CLP 40,172 CLP 38
Owner Earnings 14,988 CLP 28,903 CLP 54,568 CLP 31
5Y Revenue Exit 14,664 CLP 28,135 CLP 46,824 CLP 39
5Y EBITDA Exit 15,886 CLP 30,680 CLP 49,554 CLP 41
5Y P/E Exit 14,396 CLP 27,580 CLP 42,883 CLP 38
10Y Revenue Exit 12,768 CLP 25,443 CLP 45,594 CLP 36
10Y EBITDA Exit 14,220 CLP 27,358 CLP 47,953 CLP 37
10Y P/E Exit 13,212 CLP 25,017 CLP 42,180 CLP 35
Earnings-Based
Graham-Dodd 9,539 CLP 45,705 CLP 62,914 CLP 54
Lynch FV 12,185 CLP 17,412 CLP 22,630 CLP 50
PEG = 1.0 12,185 CLP 17,412 CLP 22,630 CLP 46
EPV 16,885 CLP 19,984 CLP 22,741 CLP 59
Dividend Discount
Gordon GGM 8,133 CLP 17,755 CLP 29,875 CLP 70
DDM Multi-Stage 8,133 CLP 14,544 CLP 18,504 CLP 61
Multiples
P/E Multiple 17,884 CLP 23,852 CLP 29,810 CLP 63
P/S Multiple 17,884 CLP 23,852 CLP 29,810 CLP 58
P/B Multiple 16,570 CLP 22,094 CLP 27,617 CLP 55
EV/EBIT 22,945 CLP 30,828 CLP 38,710 CLP 53
EV/EBITDA 19,494 CLP 26,229 CLP 32,956 CLP 54
EV/Revenue 16,385 CLP 23,704 CLP 31,031 CLP 43
Asset-Based
NCAV (Graham) 3,682 CLP 4,931 CLP 7,365 CLP 50
Growth DCF
Growth DCF 10,825 CLP 20,345 CLP 37,702 CLP 80
Rev-Margin DCF 14,664 CLP 27,617 CLP 44,521 CLP 74
Economic Profit
Residual Income 9,308 CLP 11,593 CLP 33,909 CLP 76
ROIC Compounder 19,596 CLP 27,201 CLP 37,323 CLP 72
Growth Earnings
Growth-Adj P/E 17,107 CLP 24,444 CLP 31,781 CLP 68

Widest divergence: DCF Models (27,358 CLP) versus Asset-Based (4,931 CLP). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.3B CLP
Revenue growth (YoY) +24.7%
Net margin 8.5%
Return on equity 20.4%
Free cash flow 112M CLP FY2025
P/E ratio 15.9
More key figures
Operating margin 13.1%
EPS (TTM) 1,575 CLP
EPS growth (YoY) +14.2%
Net debt 324M CLP FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 56 · Market factors (momentum, volatility) 80

Profitability 57
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)
Net Issuance 82
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

Enaex S.A., together its subsidiaries, produces and sells explosives in Chile, Argentina, Peru, Brazil, South Africa, Australia, and internationally.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Enaex S.A reported revenue of 2.2B CLP in FY2025 versus 1.2B CLP in FY2021, a compound +16.8%/yr. Reported net income was 187M CLP in FY2025, compounding +18.9%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.2B CLP
Latest YoY
+12.9%
Avg. growth/yr (3Y)
+3.5%
Avg. growth/yr (5Y)
+21.3%
Avg. growth/yr (11Y)
+11.6%
Revenue +16.8%/yr
FY21 1.2B CLP
FY22 1.9B CLP
FY23 1.8B CLP
FY24 1.9B CLP
FY25 2.2B CLP
Net income +18.9%/yr
FY21 93.3M CLP
FY22 159M CLP
FY23 154M CLP
FY24 160M CLP
FY25 187M CLP

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Cite: Fair Value Calculator (2026). "Enaex S.A Fair Value". https://www.fairvalue-calculator.com/stock/ENAEX

Peer Group

Specialty Chemicals · 676 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 60 · Above median
Fair Value upside −5% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 13% · Above median
Revenue growth 25% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.40× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 15.9× · Cheaper than median
P/B 3.47× · Pricier than 75% of peers
P/S (TTM) 1.49× · Pricier than median
P/FCF 30.4× · Pricier than 75% of peers
EV/EBITDA 9.2× · Cheaper than median

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 27 · sector 0
FUTURE 100 · sector 19
PAST 82 · sector 23
HEALTH 80 · sector 95
DIVIDEND 0 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Enaex S.A (ENAEX) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 23,852 CLP versus a price of 25,008 CLP, about −5% (fairly valued).
What is the fair value of ENAEX?
Our model-based fair value for Enaex S.A is 23,852 CLP (as of Jul 16, 2026), built from audited fundamentals. The current price is 25,008 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 revenue of Enaex S.A (ENAEX)?
Enaex S.A reported trailing-twelve-month revenue of about 2.3B CLP (latest available figure, as of Jul 16, 2026).
What is the net profit margin of ENAEX?
The net profit margin of Enaex S.A is about 8.5%, meaning it keeps roughly 8.5% of revenue as net income. Based on the latest reported figures.

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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