Ferm. Casino Mun. Canne (FCMC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Ferm. Casino Mun. Canne stock €3,332, price €2,680, upside +24.3%, quality 68 out of 100. Rating: undervalued. Calculated from audited financials with 23 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 5, 2026.
How to read this chart
60‑month range €784.46 – €2,960 · fair‑value band €2,444 – €4,332 · the €2,680 price screens below the €3,332 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Société Fermière du Casino Municipal de Cannes operates hotels, casinos, gaming club, spas, performance venues, and restaurants in France.
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The company operates hotels and cottages under the Hôtel Barrière Le Majestic, the Hôtel Barrière Le Gray d'Albion, and the Hôtel Barrière Le Carl Gustaf St-Barth brands.
It also operates slot machines, leisure and entertainment options, and gaming tables as well as a cocktail lounge bar under the Casino Barrière Le Croisette and Casino Barrière Les Princes brands. In addition, the company operates restaurants under the Tables Barrière brand.
Société Fermière du Casino Municipal de Cannes was incorporated in 1919 and is based in Cannes, France.
Stock analysis
Ferm. Casino Mun. Canne (FCMC) currently trades at €2,680, while our model-based Fair Value estimate is €3,332, implying the stock looks roughly 20% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €3,464 per share, and 12 of the 23 models we run sit above the €2,680 price.
Bear case: the Asset-Based group reads lowest at €1,353, and 11 of the 23 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €2,444 (bear) to €4,332 (bull), the price of €2,680 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 68/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Ferm. Casino Mun. Canne reported revenue of €161M in FY2025 versus €76.0M in FY2021, a compound +20.7%/yr. Reported net income was €28.5M in FY2025, compounding +64.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap €423M Small · P/E ratio 10.9 · P/S ratio 1.92 · EPS (TTM) €246.44 · Net margin 17.7% · Return on equity 9.0% · Return on assets (EBIT) 6.0% (5-year average) · Operating margin −2.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 84% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 34% fair-value upside, at 24%, FCMC screens richer than that median.
Fair Value models
Bear€2,444Fair Value €3,332Bull€4,332
Price €2,680 · Upside +24.3%
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 12 months old). Earnings retained since then (€246.44 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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.0%
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.
+2.9%
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.
+24.0%
Start year 2020 (pandemic). Over 10 years: +3.2% a year
Revenue growth 25 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.
−4.5%
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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.
≈ +28.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +28.4%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 28.4% / 7.6%
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.−31% → 25%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 51.9 per share, median 104 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
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).
+1.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −1.0% a year for the price.
Compare Ferm. Casino Mun. Canne with another stock
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.Resorts & Casinos · 62 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+24.3% · Above median
Profitability
Return on equity (12 months)9.0% · Above median
Return on assets5.8% · Above median
Net margin (12 months)16.0% · Top 25%
Operating margin (12 months)−2.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)24.4% · Top 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Resorts & Casinos median · lower = cheaper
P/E (12 months)10.9× · Cheapest 25%
P/B1.32× · Pricier than median
P/S (12 months)2.73× · Pricier than median
Price / free cash flow (fiscal year)14.5× · Cheaper than median
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Is Ferm. Casino Mun. Canne (FCMC) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of €3,332 versus a price of €2,680, about +24% upside (undervalued).
What is the fair value of FCMC?
Our model-based fair value for Ferm. Casino Mun. Canne is €3,332 (as of Nov 5, 2026), built from audited fundamentals. The current price: €2,680.
What is the quality score of FCMC?
Ferm. Casino Mun. Canne has a Quality Score of 68/100. 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 Ferm. Casino Mun. Canne (FCMC)?
Our model-based price target is the fair value of €3,332 (as of Nov 5, 2026) from 23 valuation models. Cautious scenario €2,444, optimistic scenario €4,332. It is a calculation from audited fundamentals, not an analyst target.
What is the Ferm. Casino Mun. Canne stock forecast for 2026?
Our models put fair value at €3,332, about +24% upside versus a price of €2,680 (undervalued). Cautious scenario €2,444, optimistic scenario €4,332. The calculation is refreshed regularly with new filings.
What is the revenue of Ferm. Casino Mun. Canne (FCMC)?
Ferm. Casino Mun. Canne reported trailing-twelve-month revenue of about €155M (latest available figure, as of Nov 5, 2026).
What growth is priced into Ferm. Casino Mun. Canne (FCMC)?
For today's price to be fair in a discounted-cash-flow model, Ferm. Casino Mun. Canne would have to grow free cash flow by +1.2 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of FCMC use?
Our models discount Ferm. Casino Mun. Canne at 10.3 %: a base by market capitalisation (small), damped by beta 0.33, country premium for France. 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 Ferm. Casino Mun. Canne that is +1.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Ferm. Casino Mun. Canne (FCMC) delivered so far?
Over the past 5 years revenue at Ferm. Casino Mun. Canne grew +24.0 % a year. The price currently implies free-cash-flow growth of +1.2 % 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 Ferm. Casino Mun. Canne (FCMC) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Ferm. Casino Mun. Canne (+1.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ferm. Casino Mun. Canne (FCMC)?
The free-cash-flow yield on the price is 6.88 %: that much free cash flow Ferm. Casino Mun. Canne produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ferm. Casino Mun. Canne (FCMC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ferm. Casino Mun. Canne it is €3,332 per share (as of Nov 5, 2026), against a price of €2,680. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Ferm. Casino Mun. Canne stock overvalued or undervalued in 2026?
As of Nov 5, 2026, FCMC trades below its calculated fair value: price €2,680, fair value €3,332, a gap of about +24% (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 FCMC?
No. The price is what the market pays today (€2,680); the fair value is what the company's own numbers justify (€3,332). For Ferm. Casino Mun. Canne the two are €652.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ferm. Casino Mun. Canne worth?
The market values Ferm. Casino Mun. Canne at about €423M (market capitalisation, as of Nov 5, 2026). Per share that is €2,680; our models calculate a fair value of €3,332 per share.
What do the bullish and bearish scenarios say about FCMC?
Our models span a range for Ferm. Casino Mun. Canne: cautious scenario €2,444, base €3,332, optimistic €4,332 per share (as of Nov 5, 2026, price €2,680). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FCMC?
Ferm. Casino Mun. Canne trades at a price-to-earnings ratio of 10.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €3,332 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 12.3. Other multiples: P/B 1.3, P/S 2.7, EV/EBITDA 7.0.
How solid is the balance sheet of Ferm. Casino Mun. Canne (FCMC)?
Balance-sheet figures for Ferm. Casino Mun. Canne (as of Nov 5, 2026): return on equity 9.0%, debt of 0.02 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is FCMC from its 52-week high?
Ferm. Casino Mun. Canne trades at €2,680, about 9% below its 52-week high of €2,960 and 84% above the low of €1,460 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €3,332 is for.
Which stocks are comparable to Ferm. Casino Mun. Canne?
From the same area (Consumer Cyclical) we also value Las Vegas Sands Corp, Galaxy Entertainment Group, Sands China Ltd, Wynn Resorts, Limited, 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 Ferm. Casino Mun. Canne stock attractive at the current price?
The data as of Nov 5, 2026: price €2,680, calculated fair value €3,332 (+24%), Quality Score 68/100, from 23 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 FCMC calculated?
We run Ferm. Casino Mun. Canne through 23 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 €3,332 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 13.0% above its aggregate fair value. Ferm. Casino Mun. Canne currently trades 20% 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 Ferm. Casino Mun. Canne (FCMC)?
The closing price on Nov 6, 2026 was €2,680. Our model-based fair value is €3,332, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ferm. Casino Mun. Canne right now?
Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Ferm. Casino Mun. Canne (FCMC) come from?
Earnings per share at Ferm. Casino Mun. Canne grew +5.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.2 %, EBIT margin +0.2 %, tax rate +0.3 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Ferm. Casino Mun. Canne
How large is the market capitalisation of Ferm. Casino Mun. Canne (FCMC)?
The market capitalisation of Ferm. Casino Mun. Canne is €423M. 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 Ferm. Casino Mun. Canne (FCMC)?
The price-to-sales ratio of Ferm. Casino Mun. Canne is 1.92 (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 Ferm. Casino Mun. Canne (FCMC)?
Earnings per share at Ferm. Casino Mun. Canne are €246.44 (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ferm. Casino Mun. Canne (FCMC)?
The net margin of Ferm. Casino Mun. Canne is 17.7% (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 Ferm. Casino Mun. Canne (FCMC)?
The return on equity (ROE) of Ferm. Casino Mun. Canne is 9.0% (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 Ferm. Casino Mun. Canne (FCMC)?
On an EBIT basis the return on assets of Ferm. Casino Mun. Canne is 6.0% (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 Ferm. Casino Mun. Canne (FCMC)?
The operating margin of Ferm. Casino Mun. Canne is −2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ferm. Casino Mun. Canne (FCMC)?
Revenue at Ferm. Casino Mun. Canne is growing +24.4% versus a year earlier (3y avg +2.9%). 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 Ferm. Casino Mun. Canne (FCMC)?
Earnings per share at Ferm. Casino Mun. Canne are growing +14.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Ferm. Casino Mun. Canne (FCMC) hold?
Ferm. Casino Mun. Canne holds more cash than debt, €47.3M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 5, 2026