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Inversiones Aguas Metropolitanas S.A (IAM) Fair Value & Analysis

Utilities · CL · Market cap 922B CLP

IA Inversiones Aguas Metropolitanas S.A IAM · SN
Price957.75 CLP
Fair Value1,226 CLP
Upside+28.0%
Quality49/100
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Expensive Growth
Solidly profitable · 10.2% net margin
Moderate debt · generates free cash flow
Ranks above peers (13/15)
Moderate moat 63/100
Evidence: Medium Range 808.52 CLP – 1,532 CLP Share as image

Fair value as of: Jul 16, 2026

From 25 valuation models · updated 25 days ago

Share price +5.0% over the past month.

Below-average quality, screening 28% undervalued on our models.

What matters now

  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (808.52 CLP to 1,532 CLP) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1,092 CLP 239.41 CLP Fair Value 1,226 CLP Apr 2021 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 239.41 CLP – 1,092 CLP · fair‑value band 808.52 CLP – 1,532 CLP · the 957.75 CLP price screens below the 1,226 CLP fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Inversiones Aguas Metropolitanas S.A (IAM) currently trades at 957.75 CLP, while our model-based Fair Value estimate is 1,226 CLP, implying the stock looks roughly 28.0% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Utilities 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: medium), always confirm before acting.

Over the trailing twelve months, Inversiones Aguas Metropolitanas S.A generated revenue of 726B CLP at a net margin of 10.2%. Revenue grew 6.6% year over year. It earns a return on equity of 9.1%. Net debt stands at 1.1T CLP. Fundamentals as of Jul 16, 2026

Our scenario range runs from 808.52 CLP (bear case) to 1,532 CLP (bull case); at 957.75 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 14% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -10% fair-value upside, at 28%, IAM 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 1,059 CLP 2,072 CLP 3,567 CLP 80
Residual Income 783.10 CLP 836.80 CLP 918.15 CLP 76
Rev-Margin DCF 434.18 CLP 1,175 CLP 2,009 CLP 74
All 25 models by family
DCF Models
FCF DCF 1,005 CLP 2,117 CLP 3,847 CLP 38
5Y Revenue Exit 434.18 CLP 1,155 CLP 2,048 CLP 39
5Y EBITDA Exit 1,125 CLP 2,421 CLP 3,901 CLP 41
5Y P/E Exit 190.95 CLP 709.98 CLP 1,231 CLP 38
10Y Revenue Exit 578.99 CLP 1,285 CLP 2,179 CLP 36
10Y EBITDA Exit 1,065 CLP 2,174 CLP 3,598 CLP 37
10Y P/E Exit 460.50 CLP 972.25 CLP 1,554 CLP 35
Earnings-Based
Graham-Dodd 463.12 CLP 1,287 CLP 1,691 CLP 54
Lynch FV 257.92 CLP 368.46 CLP 478.99 CLP 50
PEG = 1.0 257.92 CLP 368.46 CLP 478.99 CLP 46
EPV 1,383 CLP 1,811 CLP 2,192 CLP 59
Dividend Discount
Gordon GGM 1,207 CLP 2,636 CLP 4,435 CLP 70
DDM Multi-Stage 1,207 CLP 1,939 CLP 2,747 CLP 61
Multiples
P/E Multiple 919.44 CLP 1,226 CLP 1,532 CLP 63
P/S Multiple 868.36 CLP 1,158 CLP 1,447 CLP 58
P/B Multiple 868.36 CLP 1,158 CLP 1,447 CLP 55
EV/EBIT 1,989 CLP 3,000 CLP 4,011 CLP 53
EV/EBITDA 1,478 CLP 2,319 CLP 3,160 CLP 54
EV/Revenue 204.19 CLP 738.78 CLP 1,273 CLP 43
Asset-Based
NCAV (Graham) 467.21 CLP 626.06 CLP 934.41 CLP 50
Growth DCF
Growth DCF 1,059 CLP 2,072 CLP 3,567 CLP 80
Rev-Margin DCF 434.18 CLP 1,175 CLP 2,009 CLP 74
Economic Profit
Residual Income 783.10 CLP 836.80 CLP 918.15 CLP 76
ROIC Compounder 1,475 CLP 2,167 CLP 3,023 CLP 72
Growth Earnings
Growth-Adj P/E 743.07 CLP 1,062 CLP 1,380 CLP 68

Widest divergence: Dividend Discount (1,939 CLP) versus Earnings-Based (368.46 CLP). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 726B CLP
Revenue growth (YoY) +6.6%
Net margin 10.2%
Return on equity 9.1%
Free cash flow 176B CLP FY2025
P/E ratio 12.5
More key figures
Operating margin 46.3%
EPS (TTM) 73.70 CLP
EPS growth (YoY) +22.3%
Net debt 1.1T CLP FY2025

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 47 · Market factors (momentum, volatility) 61

Profitability 29
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 56
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

Inversiones Aguas Metropolitanas S.A., through its subsidiaries, engages in the sanitation business in Chile. The company operates through Water and Non-Water segments. The Water Utility segment production and distribution of drinking water; and collects and treats sewage water.

Full company description

Inversiones Aguas Metropolitanas S.A., through its subsidiaries, engages in the sanitation business in Chile. The company operates through Water and Non-Water segments. The Water Utility segment production and distribution of drinking water; and collects and treats sewage water. The Non-Water segment is involved in e industrial waste treatment, comprehensive industrial waste, engineering services, energy projects, and biogas. The company was incorporated in 1999 and is based in Las Condes, Chile. Inversiones Aguas Metropolitanas S.A. operates as a subsidiary of Suez Inversiones Aguas del Gran Santiago Limitada.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Inversiones Aguas Metropolitanas S.A reported revenue of 713B CLP in FY2025 versus 506B CLP in FY2021, a compound +8.9%/yr. Reported net income was 68.1B CLP in FY2025, compounding +8.6%/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)
713B CLP
Latest YoY
+7.5%
Avg. growth/yr (3Y)
+7.4%
Avg. growth/yr (5Y)
+8.3%
Avg. growth/yr (11Y)
+4.5%
Revenue +8.9%/yr
FY21 506B CLP
FY22 575B CLP
FY23 641B CLP
FY24 663B CLP
FY25 713B CLP
Net income +8.6%/yr
FY21 49.0B CLP
FY22 41.3B CLP
FY23 65.3B CLP
FY24 60.5B CLP
FY25 68.1B CLP

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Cite: Fair Value Calculator (2026). "Inversiones Aguas Metropolitanas S.A Fair Value". https://www.fairvalue-calculator.com/stock/IAM

Peer Group

Utilities - Regulated Water · 67 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 49 · Above median
Fair Value upside +28% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 46% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 1.30× · Higher than 75% of peers

Valuation Multiples vs Utilities - Regulated Water median · lower = cheaper

P/E (TTM) 12.5× · Cheaper than 75% of peers
P/B 0.99× · Cheaper than median
P/S (TTM) 1.27× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 5.6× · Cheaper than 75% of peers
PEG 1.19× · 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 71 · sector 7
FUTURE 33 · sector 28
PAST 37 · sector 29
HEALTH 35 · sector 66
DIVIDEND 0 · 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 Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
American Water Works Company AWK $134.33 $65.80 -51%
SBSP3 SBSP3 R$29.22 R$31.23 +7%
SBS SBS $5.79 $5.21 -10%
Essential Utilities, Inc WTRG $38.59 $21.81 -43%
CSMG3 CSMG3 R$66.10 R$60.17 -9%
Grandblue Environment Co 600323 ¥29.42 ¥33.29 +13%
American States Water Company AWR $85.01 $48.02 -44%
Chengdu Xingrong Environment Co 000598 ¥6.97 ¥10.74 +54%
California Water Service Group CWT $49.73 $33.56 -33%
Chongqing Water Group 601158 ¥4.12 ¥2.77 -33%

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Frequently asked questions

Is Inversiones Aguas Metropolitanas S.A (IAM) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 1,226 CLP versus a price of 957.75 CLP, about +28% (undervalued).
What is the fair value of IAM?
Our model-based fair value for Inversiones Aguas Metropolitanas S.A is 1,226 CLP (as of Jul 16, 2026), built from audited fundamentals. The current price is 957.75 CLP.
What is the quality score of IAM?
Inversiones Aguas Metropolitanas S.A has a Quality Score of 49/100. 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 Inversiones Aguas Metropolitanas S.A (IAM)?
Inversiones Aguas Metropolitanas S.A reported trailing-twelve-month revenue of about 726B CLP (latest available figure, as of Jul 16, 2026).
What is the net profit margin of IAM?
The net profit margin of Inversiones Aguas Metropolitanas S.A is about 10.2%, meaning it keeps roughly 10.2% 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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