Fondul Proprietatea SA (FP) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Fondul Proprietatea SA stock RON 1.12, price RON 0.56, upside +100.7%, quality 94 out of 100. Rating: strongly undervalued. Calculated from audited financials with 10 of our 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. As of Nov 6, 2026.
How to read this chart
60‑month range 0.2207 RON – 1.46 RON · fair‑value band 0.7900 RON – 1.95 RON · the 0.5580 RON price screens below the 1.12 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Fondul Proprietatea SA is a publicly owned investment manager. The firm invests in the public equity markets of Romania. The firm primarily invests in Power, Oil and Gas sectors. Fondul Proprietatea SA was founded in 2005 and is based in Bucharest, Romania.
Stock analysis
Fondul Proprietatea SA (FP) currently trades at 0.5580 RON, while our model-based Fair Value estimate is 1.12 RON, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 5.34 RON per share, and 9 of the 10 models we run sit above the 0.5580 RON price.
Bear case: the Asset-Based group reads lowest at 0.5300 RON, and 1 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.7900 RON (bear) to 1.95 RON (bull), the price of 0.5580 RON sits below 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 94/100 (high quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Fondul Proprietatea SA reported revenue of 484M RON in FY2025 versus 5.1B RON in FY2021, a compound −44.6%/yr. Reported net income was 450M RON in FY2025, compounding −45.3%/yr from FY2021.
Key figures
Market cap 1.6B RON (≈ $346M) Small · P/E ratio 2.7 · P/S ratio 2.45 · EPS (TTM) 0.2100 RON · Dividend yield 7.3% · Net margin 94.4% · Return on equity 26.4% · Return on assets 15.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 89 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 35% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at 101%, FP screens cheaper than that median.
Fair Value models
Bear0.7900 RONFair Value 1.12 RONBull1.95 RON
Price 0.5580 RON · Upside +100.7%
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 (0.1435 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.23/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+68.1%
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.
−45.0%
’21
’22
’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.
−21.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.3%
Dividend (yield on the price)7.3%
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).
+6.0%
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 +1.5% 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.Asset Management · 592 stocks
Beats the industry median on 11/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score94 · Top 25%
Fair Value upside+100.7% · Top 25%
Profitability
Return on equity (12 months)26.4% · Top 25%
Return on assets17.3% · Top 25%
Net margin (12 months)94.4% · Top 25%
Operating margin (12 months)97.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)126.2% · Top 25%
Dividend yield (12 months)7.3% · Top 25%
Valuation Multiplesvs Asset Management 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). "Fondul Proprietatea SA Fair Value". https://www.fairvalue-calculator.com/stock/FP
Frequently asked questions
Is Fondul Proprietatea SA (FP) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 1.12 RON versus a price of 0.5580 RON, about +101% upside (undervalued).
What is the fair value of FP?
Our model-based fair value for Fondul Proprietatea SA is 1.12 RON (as of Nov 6, 2026), built from audited fundamentals. The current price: 0.5580 RON.
What is the quality score of FP?
Fondul Proprietatea SA has a Quality Score of 94/100. 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 Fondul Proprietatea SA (FP)?
Our model-based price target is the fair value of 1.12 RON (as of Nov 6, 2026) from 10 valuation models. Cautious scenario 0.7900 RON, optimistic scenario 1.95 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the Fondul Proprietatea SA stock forecast for 2026?
Our models put fair value at 1.12 RON, about +101% upside versus a price of 0.5580 RON (undervalued). Cautious scenario 0.7900 RON, optimistic scenario 1.95 RON. The calculation is refreshed regularly with new filings.
What is the revenue of Fondul Proprietatea SA (FP)?
Fondul Proprietatea SA reported trailing-twelve-month revenue of about 671M RON (latest available figure, as of Nov 6, 2026).
Does Fondul Proprietatea SA pay a dividend?
Fondul Proprietatea SA currently shows a dividend yield of 7.35% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Fondul Proprietatea SA (FP)?
For today's price to be fair in a discounted-cash-flow model, Fondul Proprietatea SA would have to grow free cash flow by +6.0 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -44.6 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of FP use?
Our models discount Fondul Proprietatea SA at 12.4 %: a base by market capitalisation (small), damped by beta 0.50, 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 Fondul Proprietatea SA that is +6.0 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Fondul Proprietatea SA (FP) delivered so far?
Over the past 4 years revenue at Fondul Proprietatea SA grew -44.6 % a year. The price currently implies +6.0 % 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 Fondul Proprietatea SA (FP) growing?
The median revenue growth in the sector is +6.5 % a year. That is the yardstick for the growth priced into Fondul Proprietatea SA (+6.0 % 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 Fondul Proprietatea SA (FP)?
The free-cash-flow yield on the price is 7.52 %: that much free cash flow Fondul Proprietatea SA produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fondul Proprietatea SA (FP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fondul Proprietatea SA it is 1.12 RON per share (as of Nov 6, 2026), against a price of 0.5580 RON. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Fondul Proprietatea SA stock overvalued or undervalued in 2026?
As of Nov 6, 2026, FP trades below its calculated fair value: price 0.5580 RON, fair value 1.12 RON, a gap of about +101% (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 FP?
No. The price is what the market pays today (0.5580 RON); the fair value is what the company's own numbers justify (1.12 RON). For Fondul Proprietatea SA the two are 0.5620 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is Fondul Proprietatea SA worth?
The market values Fondul Proprietatea SA at about 1.6B RON (market capitalisation, as of Nov 6, 2026). Per share that is 0.5580 RON; our models calculate a fair value of 1.12 RON per share.
What do the bullish and bearish scenarios say about FP?
Our models span a range for Fondul Proprietatea SA: cautious scenario 0.7900 RON, base 1.12 RON, optimistic 1.95 RON per share (as of Nov 6, 2026, price 0.5580 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FP?
Fondul Proprietatea SA trades at a price-to-earnings ratio of 2.7 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.12 RON is built from several models across several years. Other multiples: P/B 0.7, P/S 2.5.
How solid is the balance sheet of Fondul Proprietatea SA (FP)?
Balance-sheet figures for Fondul Proprietatea SA (as of Nov 6, 2026): return on equity 26.4%. They feed the Quality Score of 94/100, which measures business quality independently of the share price.
How far is FP from its 52-week high?
Fondul Proprietatea SA trades at 0.5580 RON, about 15% below its 52-week high of 0.6587 RON and 35% above the low of 0.4144 RON (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 1.12 RON is for.
Which stocks are comparable to Fondul Proprietatea SA?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, 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 Fondul Proprietatea SA stock attractive at the current price?
The data as of Nov 6, 2026: price 0.5580 RON, calculated fair value 1.12 RON (+101%), Quality Score 94/100, from 10 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 FP calculated?
We run Fondul Proprietatea SA through 10 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 1.12 RON, 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 15.6% above its aggregate fair value. Fondul Proprietatea SA currently trades 50% 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 Fondul Proprietatea SA (FP)?
The closing price on Nov 5, 2026 was 0.5580 RON. Our model-based fair value is 1.12 RON, about +101% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fondul Proprietatea SA right now?
The rarer combination: high quality (94/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (0.7900 RON). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (0.7900 RON to 1.95 RON) leaves room in how you read the outcome.
Key figures of Fondul Proprietatea SA
How large is the market capitalisation of Fondul Proprietatea SA (FP)?
The market capitalisation of Fondul Proprietatea SA is 1.6B RON (≈ $346M). 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 Fondul Proprietatea SA (FP)?
The price-to-sales ratio of Fondul Proprietatea SA is 2.45 (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 Fondul Proprietatea SA (FP)?
Earnings per share at Fondul Proprietatea SA are 0.2100 RON (price ÷ EPS = P/E 2.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fondul Proprietatea SA (FP)?
The dividend yield of Fondul Proprietatea SA is 7.3% (payout 19.5%). 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 Fondul Proprietatea SA (FP)?
The net margin of Fondul Proprietatea SA is 94.4% (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 Fondul Proprietatea SA (FP)?
The return on equity (ROE) of Fondul Proprietatea SA is 26.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Fondul Proprietatea SA (FP)?
The return on assets (ROA) of Fondul Proprietatea SA is 15.4% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of Fondul Proprietatea SA (FP)?
The operating margin of Fondul Proprietatea SA is 97.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fondul Proprietatea SA (FP)?
Revenue at Fondul Proprietatea SA is growing +126% versus a year earlier (3y avg −45.0%). 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 Fondul Proprietatea SA (FP)?
Earnings per share at Fondul Proprietatea SA are growing +147% versus a year earlier. How much earnings per share grew versus a year earlier.
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Thin data
Nov 6, 2026