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International Meal Company Alimentação S.A (MEAL3) fair value: what the stock is really worth

We calculate from audited financials what International Meal Company Alimentação S.A is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Consumer Cyclical · BR · ISIN BRMEALACNOR9

IM Thin data Sep 13, 2026

International Meal Company Alimentação S.A

MEAL3 · SA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

Fair value R$2.45 · Strongly undervalued (+172%)
!Quality 40/100
!Weak Growth (revenue 5y +8.4 %/yr)
!Loss-making · -10.9% net margin (TTM)
Low debt · generates free cash flow
!Mixed vs. peers (6/14)
!Narrow moat 13/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R$4.50 R$0.5600 Fair Value R$2.45 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range R$0.5600 – R$4.50 · fair‑value band R$1.21 – R$3.99 · the R$0.9000 price screens below the R$2.45 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

International Meal Company Alimentação S.A., together with its subsidiaries, operates restaurants, bars, and cafes that offers food and beverages in Brazil, Colombia, and the United States.

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International Meal Company Alimentação S.A., together with its subsidiaries, operates restaurants, bars, and cafes that offers food and beverages in Brazil, Colombia, and the United States. The company also for airlines; operates food courts at service stations and restaurant chains along highways; sells fuel for vehicles; provides services to franchisees of the KFC and Pizza Hut brands; and subletting stores and spaces for promotional and commercial purposes in its chain stores, as well as provides general services. The company operates its restaurants under the Frango Assado, Viena, Brunella, Margaritaville, KFC, Pizza Hut, Batata Inglesa, and RA Catering brand names. International Meal Company Alimentação S.A. was founded in 1965 and is headquartered in São Paulo, Brazil.

Stock analysis

International Meal Company Alimentação S.A (MEAL3) currently trades at R$0.9000, while our model-based Fair Value estimate is R$2.45, implying the stock looks roughly 63.3% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of R$2.01 per share, and 8 of the 12 models we run sit above the R$0.9000 price.

Bear case: the DCF Models group reads lowest at R$0.6200, and 4 of the 12 models stay below the price. Evidence for this calculation is low.

Scenario range: R$1.21 (bear) to R$3.99 (bull), the price of R$0.9000 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 40/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

International Meal Company Alimentação S.A reported revenue of R$1.7B in FY2025 versus R$1.9B in FY2021, a compound −1.7%/yr. Reported net income was −R$149M in FY2025.

Key figures

Market cap R$258M (≈ $50.3M) · P/S ratio 0.12 · EPS (TTM) R$−0.6200 · Dividend yield 10.9% · Net margin −8.6% · Return on equity −20.3% · Return on assets (EBIT) 0.9% · Operating margin −6.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 39% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −29% fair-value upside, at 172%, MEAL3 screens cheaper than that median.

Fair Value models

Bear R$1.21 Fair Value R$2.45 Bull R$3.99
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. 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.
Highest evidence
5Y EBITDA Exit R$2.86 R$5.17 R$7.74 74
EPV R$0.1400 R$0.1800 R$0.2200 74
ROIC Compounder R$0.1400 R$0.1800 R$0.2200 72
All 12 models by family
DCF Models
5Y Revenue Exit R$0.2700 R$0.6200 R$1.06 69
5Y EBITDA Exit R$2.86 R$5.17 R$7.74 74
10Y Revenue Exit R$0.0500 R$0.2900 R$0.5900 60
10Y EBITDA Exit R$1.45 R$2.89 R$4.69 66
Earnings-Based
EPV R$0.1400 R$0.1800 R$0.2200 74
Dividend Discount
Gordon GGM R$0.7300 R$1.00 R$1.24 69
DDM Multi-Stage R$0.7300 R$0.9600 R$1.17 67
Multiples
EV/EBIT R$1.14 R$1.60 R$2.05 66
EV/EBITDA R$6.26 R$8.42 R$10.58 67
EV/Revenue R$0.7000 R$1.09 R$1.49 53
Asset-Based
NCAV (Graham) R$1.50 R$2.01 R$3.00 54
Economic Profit
ROIC Compounder R$0.1400 R$0.1800 R$0.2200 72

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Quality Score breakdown

Overall quality 40/100

Of which business quality 38 · Market factors (momentum, volatility) 33

Profitability 20
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

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Revenue & earnings trend

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. 40/100
Revenue growth is weak, negative or inconsistent.
Latest YoY
−22.3%
Revenue growth/yr (3Y) 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%
Revenue growth/yr (5Y) 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.
+8.4%
Revenue growth/yr (17Y) 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.
+11.9%
Share of sales kept as operating profit (trend) 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.
−17.5% (2020) → 1.7% (2025)
What shareholders gained per year We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

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, ten years of growth, then 2 % a year. Compared with the average analyst sales forecast (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).
+56.3%
How much the company would have to grow every year for ten years to justify the current price.
Analysts expect (Ø )
n/a
No analyst forecast available.
🔴 A lot of optimism in the price
The price assumes more growth than the company has delivered so far.

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Peer GroupHow 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.Restaurants · 218 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Profitability
Return on assets 1% · Below median
Net margin (TTM) −11% · Bottom 25%
Operating margin (TTM) −6% · Bottom 25%
Growth and dividend
Revenue growth −8% · Bottom 25%
Dividend yield (TTM) 10.9% · Top 25%
Balance sheet
Debt / equity 0.27× · Above median

Valuation Multiplesvs Restaurants median · lower = cheaper

P/B 0.05× · Cheapest 25%
P/S (TTM) 0.02× · Cheapest 25%
P/FCF 19.8× · Priciest 25%
EV/EBITDA 1.0× · Cheapest 25%
PEG 1.39× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 40
FUTURE (revenue growth)0 · sector 18
PAST (return on equity)0 · sector 17
HEALTH (low debt)86 · sector 97
DIVIDEND (yield)100 · sector 70

Context: sector, industry, market

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

Similar stocks

10 more Restaurants stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCD $252.53 $149.03 −41%
Starbucks Corporation SBUX $98.74 $35.83 −64%
Chipotle Mexican Grill, Inc CMG $36.20 $39.82 +10%
Yum! Brands, Inc YUM $140.87 $58.17 −59%
Restaurant Brands International Inc QSR C$105.77 C$50.33 −52%
Darden Restaurants, Inc DRI $209.89 $173.68 −17%
Yum China Holdings YUMC $42.32 $49.95 +18%
Texas Roadhouse, Inc TXRH $181.22 $128.38 −29%
Dutch Bros Inc BROS $43.90 $12.80 −71%
Domino's Pizza, Inc DPZ $311.60 $227.31 −27%

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Cite: Fair Value Calculator (2026). "International Meal Company Alimentação S.A Fair Value". https://www.fairvalue-calculator.com/stock/MEAL3

Frequently asked questions

Is International Meal Company Alimentação S.A (MEAL3) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of R$2.45 versus a price of R$0.9000, about +172% upside (undervalued).
What is the fair value of MEAL3?
Our model-based fair value for International Meal Company Alimentação S.A is R$2.45 (as of Sep 13, 2026), built from audited fundamentals. The current price: R$0.9000.
What is the quality score of MEAL3?
International Meal Company Alimentação S.A has a Quality Score of 40/100. 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 International Meal Company Alimentação S.A (MEAL3)?
Our model-based price target is the fair value of R$2.45 (as of Sep 13, 2026) from 12 valuation models. Cautious scenario R$1.21, optimistic scenario R$3.99. It is a calculation from audited fundamentals, not an analyst target.
What is the International Meal Company Alimentação S.A stock forecast for 2026?
Our models put fair value at R$2.45, about +172% upside versus a price of R$0.9000 (undervalued). Cautious scenario R$1.21, optimistic scenario R$3.99. The calculation is refreshed regularly with new filings.
What is the revenue of International Meal Company Alimentação S.A (MEAL3)?
International Meal Company Alimentação S.A reported trailing-twelve-month revenue of about R$1.7B (latest available figure, as of Sep 13, 2026).
Does International Meal Company Alimentação S.A pay a dividend?
International Meal Company Alimentação S.A currently shows a dividend yield of about 10.91% relative to its recent price (as of Sep 13, 2026).
What growth is priced into International Meal Company Alimentação S.A (MEAL3)?
For today's price to be fair in a discounted-cash-flow model, International Meal Company Alimentação S.A would have to grow free cash flow by +56.3 % per year for ten years (discount rate 14.2 %, then 2 % perpetual growth). Over the last 5 years revenue grew +8.4 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of MEAL3 use?
Our models discount International Meal Company Alimentação S.A at 14.2 %: a base by market capitalisation (micro), damped by beta 0.56, country premium for Brazil. 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 International Meal Company Alimentação S.A that is +56.3 % per year a year over ten years, using the same discount rate (14.2 %) and the same formula as our fair value.
How much growth has International Meal Company Alimentação S.A (MEAL3) delivered so far?
Over the past 5 years revenue at International Meal Company Alimentação S.A grew +8.4 % a year. The price currently implies +56.3 % 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 International Meal Company Alimentação S.A (MEAL3) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into International Meal Company Alimentação S.A (+56.3 % 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 International Meal Company Alimentação S.A (MEAL3)?
The free-cash-flow yield on the price is 0.79 %: that much free cash flow International Meal Company Alimentação S.A produces per unit of market value. When it exceeds the discount rate of our models (14.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of International Meal Company Alimentação S.A (MEAL3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For International Meal Company Alimentação S.A it is R$2.45 per share (as of Sep 13, 2026), against a price of R$0.9000. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is International Meal Company Alimentação S.A stock overvalued or undervalued in 2026?
As of Sep 13, 2026, MEAL3 trades below its calculated fair value: price R$0.9000, fair value R$2.45, a gap of about +172% (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 MEAL3?
No. The price is what the market pays today (R$0.9000); the fair value is what the company's own numbers justify (R$2.45). For International Meal Company Alimentação S.A the two are R$1.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is International Meal Company Alimentação S.A worth?
The market values International Meal Company Alimentação S.A at about R$258M (market capitalisation, as of Sep 13, 2026). Per share that is R$0.9000; our models calculate a fair value of R$2.45 per share.
What do the bullish and bearish scenarios say about MEAL3?
Our models span a range for International Meal Company Alimentação S.A: cautious scenario R$1.21, base R$2.45, optimistic R$3.99 per share (as of Sep 13, 2026, price R$0.9000). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of MEAL3?
The PEG ratio of International Meal Company Alimentação S.A is 1.39 (P/E divided by earnings growth, as of Sep 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of International Meal Company Alimentação S.A (MEAL3)?
Balance-sheet figures for International Meal Company Alimentação S.A (as of Sep 13, 2026): return on equity −20.3%, debt of 0.27 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is MEAL3 from its 52-week high?
International Meal Company Alimentação S.A trades at R$0.9000, about 39% below its 52-week high of R$1.47 and 5% above the low of R$0.8600 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of R$2.45 is for.
Which stocks are comparable to International Meal Company Alimentação S.A?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Chipotle Mexican Grill, Inc, Yum! Brands, 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 International Meal Company Alimentação S.A stock attractive at the current price?
The data as of Sep 13, 2026: price R$0.9000, calculated fair value R$2.45 (+172%), Quality Score 40/100, from 12 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 MEAL3 calculated?
We run International Meal Company Alimentação S.A through 12 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 R$2.45, 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 32.0 % above its aggregate fair value. International Meal Company Alimentação S.A currently trades 172 % 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 should I pay attention to with International Meal Company Alimentação S.A right now?
The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (R$1.21). The market is more pessimistic than our downside scenario. The model range is unusually wide (R$1.21 to R$3.99). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of International Meal Company Alimentação S.A

How large is the market capitalisation of International Meal Company Alimentação S.A (MEAL3)?
The market capitalisation of International Meal Company Alimentação S.A is R$258M (≈ $50.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of International Meal Company Alimentação S.A (MEAL3)?
The price-to-sales ratio of International Meal Company Alimentação S.A is 0.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of International Meal Company Alimentação S.A (MEAL3)?
Earnings per share at International Meal Company Alimentação S.A are R$−0.6200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of International Meal Company Alimentação S.A (MEAL3)?
The dividend yield of International Meal Company Alimentação S.A is 10.9%. 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 International Meal Company Alimentação S.A (MEAL3)?
The net margin of International Meal Company Alimentação S.A is −8.6% (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 International Meal Company Alimentação S.A (MEAL3)?
The return on equity (ROE) of International Meal Company Alimentação S.A is −20.3% (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 International Meal Company Alimentação S.A (MEAL3)?
On an EBIT basis the return on assets of International Meal Company Alimentação S.A is 0.9% (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 International Meal Company Alimentação S.A (MEAL3)?
The operating margin of International Meal Company Alimentação S.A is −6.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at International Meal Company Alimentação S.A (MEAL3)?
Revenue at International Meal Company Alimentação S.A is growing −7.9% versus a year earlier (3y avg −8.3%). 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 International Meal Company Alimentação S.A (MEAL3)?
Earnings per share at International Meal Company Alimentação S.A are growing −65.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does International Meal Company Alimentação S.A (MEAL3) carry?
The net debt of International Meal Company Alimentação S.A is R$813M (fiscal year 2025). 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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