Inversiones Aguas Metropolitanas SA (IAM) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Inversiones Aguas Metropolitanas SA CLP 1,287, price CLP 933, upside +38.0%, quality 49 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 23, 2026.
How to read this chart
60‑month range 239.41 CLP – 1,092 CLP · fair‑value band 914.80 CLP – 1,691 CLP · the 932.61 CLP price screens below the 1,287 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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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.
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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.
Stock analysis
Inversiones Aguas Metropolitanas SA (IAM) currently trades at 932.61 CLP, while our model-based Fair Value estimate is 1,287 CLP, implying the stock looks roughly 27.5% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 1,939 CLP per share, and 19 of the 25 models we run sit above the 932.61 CLP price.
Bear case: the Earnings-Based group reads lowest at 368.46 CLP, and 6 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 914.80 CLP (bear) to 1,691 CLP (bull), the price of 932.61 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 49/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Inversiones Aguas Metropolitanas SA 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.
Key figures
Market cap 933B CLP (≈ $933M) · P/E ratio 12.7 · P/S ratio 1.21 · EPS (TTM) 73.70 CLP · Dividend yield 13.6% · Net margin 9.6% · Return on equity 9.1% · Return on assets (EBIT) 8.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 15% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −42% fair-value upside, at 38%, IAM screens cheaper than that median.
Fair Value models
Bear 914.80 CLPFair Value 1,287 CLPBull 1,691 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 (53.91 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.5%
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.
+7.4%
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.
+8.3%
Start year 2020 (pandemic). Over 10 years: +4.2% 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.
+4.5%
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What shareholders gained per year (last 5 years), in CLP ⓘ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. Measured in CLP: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+20.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.8%
Dividend (yield on the price)13.6%
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.35% → 38%
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).
−3.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Chile: IMF forecast 3.0% a year to 2030, 4.5% from 2016 to 2025) that is about −6.6% a year for the price.
Compare Inversiones Aguas Metropolitanas SA with another stock
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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.Utilities - Regulated Water · 66 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Above median
Fair Value upside+38% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets5% · Top 25%
Net margin (TTM)10% · Below median
Operating margin (TTM)46% · Top 25%
Growth and dividend
Revenue growth7% · Above median
Dividend yield (TTM)13.6% · Top 25%
Balance sheet
Debt / equity1.30× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Water median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Inversiones Aguas Metropolitanas SA Fair Value". https://www.fairvalue-calculator.com/stock/IAM
Frequently asked questions
Is Inversiones Aguas Metropolitanas SA (IAM) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 1,287 CLP versus a price of 932.61 CLP, about +38% upside (undervalued).
What is the fair value of IAM?
Our model-based fair value for Inversiones Aguas Metropolitanas SA is 1,287 CLP (as of Sep 23, 2026), built from audited fundamentals. The current price: 932.61 CLP.
What is the quality score of IAM?
Inversiones Aguas Metropolitanas SA 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 price target for Inversiones Aguas Metropolitanas SA (IAM)?
Our model-based price target is the fair value of 1,287 CLP (as of Sep 23, 2026) from 25 valuation models. Cautious scenario 914.80 CLP, optimistic scenario 1,691 CLP. It is a calculation from audited fundamentals, not an analyst target.
What is the Inversiones Aguas Metropolitanas SA stock forecast for 2026?
Our models put fair value at 1,287 CLP, about +38% upside versus a price of 932.61 CLP (undervalued). Cautious scenario 914.80 CLP, optimistic scenario 1,691 CLP. The calculation is refreshed regularly with new filings.
What is the revenue of Inversiones Aguas Metropolitanas SA (IAM)?
Inversiones Aguas Metropolitanas SA reported trailing-twelve-month revenue of about 726B CLP (latest available figure, as of Sep 23, 2026).
Does Inversiones Aguas Metropolitanas SA pay a dividend?
Inversiones Aguas Metropolitanas SA currently shows a dividend yield of about 13.61% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Inversiones Aguas Metropolitanas SA (IAM)?
For today's price to be fair in a discounted-cash-flow model, Inversiones Aguas Metropolitanas SA would have to grow free cash flow by -3.7 % per year for five years (discount rate 8.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of IAM use?
Our models discount Inversiones Aguas Metropolitanas SA at 8.4 %: a base by market capitalisation (mega), damped by beta 0.24, 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 Inversiones Aguas Metropolitanas SA that is -3.7 % per year a year over ten years, using the same discount rate (8.4 %) and the same formula as our fair value.
How much growth has Inversiones Aguas Metropolitanas SA (IAM) delivered so far?
Over the past 5 years revenue at Inversiones Aguas Metropolitanas SA grew +8.3 % a year. The price currently implies -3.7 % 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 Inversiones Aguas Metropolitanas SA (IAM) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Inversiones Aguas Metropolitanas SA (-3.7 % 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 Inversiones Aguas Metropolitanas SA (IAM)?
The free-cash-flow yield on the price is 18.86 %: that much free cash flow Inversiones Aguas Metropolitanas SA produces per unit of market value. When it exceeds the discount rate of our models (8.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Inversiones Aguas Metropolitanas SA (IAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Inversiones Aguas Metropolitanas SA it is 1,287 CLP per share (as of Sep 23, 2026), against a price of 932.61 CLP. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Inversiones Aguas Metropolitanas SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, IAM trades below its calculated fair value: price 932.61 CLP, fair value 1,287 CLP, a gap of about +38% (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 IAM?
No. The price is what the market pays today (932.61 CLP); the fair value is what the company's own numbers justify (1,287 CLP). For Inversiones Aguas Metropolitanas SA the two are 353.97 CLP per share apart. That gap is exactly why we show both numbers side by side.
How much is Inversiones Aguas Metropolitanas SA worth?
The market values Inversiones Aguas Metropolitanas SA at about 933B CLP (market capitalisation, as of Sep 23, 2026). Per share that is 932.61 CLP; our models calculate a fair value of 1,287 CLP per share.
What do the bullish and bearish scenarios say about IAM?
Our models span a range for Inversiones Aguas Metropolitanas SA: cautious scenario 914.80 CLP, base 1,287 CLP, optimistic 1,691 CLP per share (as of Sep 23, 2026, price 932.61 CLP). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IAM?
Inversiones Aguas Metropolitanas SA trades at a price-to-earnings ratio of 12.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,287 CLP is built from several models across several years. Other multiples: PEG 1.2, P/B 1.0, P/S 1.3, EV/EBITDA 5.6.
What is the PEG ratio of IAM?
The PEG ratio of Inversiones Aguas Metropolitanas SA is 1.19 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Inversiones Aguas Metropolitanas SA (IAM)?
Balance-sheet figures for Inversiones Aguas Metropolitanas SA (as of Sep 23, 2026): return on equity 9.1%, debt of 1.30 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is IAM from its 52-week high?
Inversiones Aguas Metropolitanas SA trades at 932.61 CLP, about 15% below its 52-week high of 1,092 CLP and 9% above the low of 854.39 CLP (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,287 CLP is for.
Which stocks are comparable to Inversiones Aguas Metropolitanas SA?
From the same area (Utilities) we also value American Water Works Company, SBS, Essential Utilities, Inc, Grandblue Environment Co, 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 Inversiones Aguas Metropolitanas SA stock attractive at the current price?
The data as of Sep 23, 2026: price 932.61 CLP, calculated fair value 1,287 CLP (+38%), Quality Score 49/100, from 25 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 IAM calculated?
We run Inversiones Aguas Metropolitanas SA through 25 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 1,287 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. Inversiones Aguas Metropolitanas SA currently trades 38 % 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 Inversiones Aguas Metropolitanas SA (IAM)?
The closing price on Sep 23, 2026 was 932.61 CLP. Our model-based fair value is 1,287 CLP, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Inversiones Aguas Metropolitanas SA right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. 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 (914.80 CLP to 1,691 CLP) leaves room in how you read the outcome.
Key figures of Inversiones Aguas Metropolitanas SA
How large is the market capitalisation of Inversiones Aguas Metropolitanas SA (IAM)?
The market capitalisation of Inversiones Aguas Metropolitanas SA is 933B CLP (≈ $933M). 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 Inversiones Aguas Metropolitanas SA (IAM)?
The price-to-sales ratio of Inversiones Aguas Metropolitanas SA is 1.21 (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 Inversiones Aguas Metropolitanas SA (IAM)?
Earnings per share at Inversiones Aguas Metropolitanas SA are 73.70 CLP (price ÷ EPS = P/E 12.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Inversiones Aguas Metropolitanas SA (IAM)?
The dividend yield of Inversiones Aguas Metropolitanas SA is 13.6% (payout 172%). 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 Inversiones Aguas Metropolitanas SA (IAM)?
The net margin of Inversiones Aguas Metropolitanas SA is 9.6% (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 Inversiones Aguas Metropolitanas SA (IAM)?
The return on equity (ROE) of Inversiones Aguas Metropolitanas SA is 9.1% (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 Inversiones Aguas Metropolitanas SA (IAM)?
On an EBIT basis the return on assets of Inversiones Aguas Metropolitanas SA is 8.3% (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 Inversiones Aguas Metropolitanas SA (IAM)?
The operating margin of Inversiones Aguas Metropolitanas SA is 46.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Inversiones Aguas Metropolitanas SA (IAM)?
Revenue at Inversiones Aguas Metropolitanas SA is growing +6.6% versus a year earlier (3y avg +7.4%). 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 Inversiones Aguas Metropolitanas SA (IAM)?
Earnings per share at Inversiones Aguas Metropolitanas SA are growing +22.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Inversiones Aguas Metropolitanas SA (IAM) carry?
The net debt of Inversiones Aguas Metropolitanas SA is 1.1T CLP (fiscal year 2025, ≈ 6.2 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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