Embention Sistemas Inteligentes S.A. (MLUAV) fair value: what the stock is really worth
As of Sep 9, 2026: fair value of Embention Sistemas Inteligentes S.A. €30.10, price €35.80, upside -15.9%, quality 63 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
42‑month range €5.00 – €51.00 · fair‑value band €19.18 – €50.64 · the €35.80 price screens above the €30.10 fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Embention Sistemas Inteligentes, S.A. operates as a drone company that develops, manufactures, and sells drone components and ready-to-fly autonomous vehicles for civil and military uses.
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Embention Sistemas Inteligentes, S.A. operates as a drone company that develops, manufactures, and sells drone components and ready-to-fly autonomous vehicles for civil and military uses. It offers autopilots for unmanned aircraft vehicles (UAVs) and urban aero mobility (UAM), gimbal cameras for drones, control stations for drones, electric vertical take-off and landing aircraft (eVTOL) electronic speed controllers, tracking antennas for drones, veronte expander modules, and accessories; and transponders, video transmitting systems, altimeters, and other UAV components. The company also provides tethered, multirotor, and fixed wing drones; UAV Catapults; custom control systems; and recovery net RN86 for the recovery of professional UAV systems. In addition, it offers drone and eVTOL certification; training for the operation, integration, and tuning of professional drones and UAVs, including simulation, workshop, and real-flight training; certifiable electronics for UAVs and eVTOL; and preconfigured UAV systems. The company was incorporated in 2007 and is based in Alicante, Spain. Embention Sistemas Inteligentes, S.A. operates as a subsidiary of ALBEDO VENTURES S.L.
Stock analysis
Embention Sistemas Inteligentes S.A. (MLUAV) currently trades at €35.80, while our model-based Fair Value estimate is €30.10, implying the stock looks roughly 18.9% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €30.61 per share, and 1 of the 20 models we run sit above the €35.80 price.
Bear case: the Economic Profit group reads lowest at €8.55, and 19 of the 20 models stay below the price. Evidence for this calculation is medium.
Scenario range: €19.18 (bear) to €50.64 (bull), the price of €35.80 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 63/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Embention Sistemas Inteligentes S.A. reported revenue of €13.4M in FY2025 versus €3.0M in FY2020, a compound +34.7%/yr. Reported net income was €5.0M in FY2025, compounding +73.5%/yr from FY2020. FY2020 was a trough year, so the rate overstates the trend.
Key figures
Market cap €170M · P/E ratio 94.2 · P/S ratio 35.2 · EPS (TTM) €0.3800 · Net margin 37.3% · Return on equity 34.6% · Return on assets (EBIT) 15.3% · Operating margin 39.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 53% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −33% fair-value upside, at −16%, MLUAV screens cheaper than that median.
Fair Value models
Bear €19.18Fair Value €30.10Bull €50.64
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 (€0.2790 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.92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+9.2%
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.
+34.7%
Start year 2020 (pandemic)
’20
’21
’24
’25
Profit margin (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.
14.2% (2020) → 43.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 2 usable fiscal years, at least 4 required
not computed
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).
+31.3%
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 +28.5% a year for the price.
Compare Embention Sistemas Inteligentes S.A. 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.Computer Hardware · 220 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−16% · Above median
Profitability
Return on equity (TTM)35% · Top 25%
Return on assets16% · Top 25%
Net margin (TTM)33% · Top 25%
Operating margin (TTM)40% · Top 25%
Growth and dividend
Revenue growth0% · Below median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Computer Hardware 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.
Is Embention Sistemas Inteligentes S.A. (MLUAV) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €30.10 versus the last price from Sep 9, 2026 of €35.80, about −16% upside (overvalued).
What is the fair value of MLUAV?
Our model-based fair value for Embention Sistemas Inteligentes S.A. is €30.10 (as of Sep 23, 2026), built from audited fundamentals. Last price (from Sep 9, 2026): €35.80.
What is the quality score of MLUAV?
Embention Sistemas Inteligentes S.A. has a Quality Score of 63/100. 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 Embention Sistemas Inteligentes S.A. (MLUAV)?
Our model-based price target is the fair value of €30.10 (as of Sep 23, 2026) from 20 valuation models. Cautious scenario €19.18, optimistic scenario €50.64. It is a calculation from audited fundamentals, not an analyst target.
What is the Embention Sistemas Inteligentes S.A. stock forecast for 2026?
Our models put fair value at €30.10, about −16% upside versus the last price from Sep 9, 2026 of €35.80 (overvalued). Cautious scenario €19.18, optimistic scenario €50.64. The calculation is refreshed regularly with new filings.
What is the revenue of Embention Sistemas Inteligentes S.A. (MLUAV)?
Embention Sistemas Inteligentes S.A. reported trailing-twelve-month revenue of about €15.2M (latest available figure, as of Sep 23, 2026).
What growth is priced into Embention Sistemas Inteligentes S.A. (MLUAV)?
For today's price to be fair in a discounted-cash-flow model, Embention Sistemas Inteligentes S.A. would have to grow free cash flow by +31.3 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +34.7 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of MLUAV use?
Our models discount Embention Sistemas Inteligentes S.A. at 11.8 %: a base by market capitalisation (micro), damped by beta 0.28, 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 Embention Sistemas Inteligentes S.A. that is +31.3 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Embention Sistemas Inteligentes S.A. (MLUAV) delivered so far?
Over the past 5 years revenue at Embention Sistemas Inteligentes S.A. grew +34.7 % a year. The price currently implies +31.3 % 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 Embention Sistemas Inteligentes S.A. (MLUAV) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Embention Sistemas Inteligentes S.A. (+31.3 % 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 Embention Sistemas Inteligentes S.A. (MLUAV)?
The free-cash-flow yield on the price is 2.19 %: that much free cash flow Embention Sistemas Inteligentes S.A. produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Embention Sistemas Inteligentes S.A. (MLUAV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Embention Sistemas Inteligentes S.A. it is €30.10 per share (as of Sep 23, 2026), against a price of €35.80. It is the blended result of 20 valuation models (cash flow, earnings, asset, dividend).
Is Embention Sistemas Inteligentes S.A. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MLUAV trades above its calculated fair value: price €35.80, fair value €30.10, a gap of about −16% (overvalued). 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 MLUAV?
No. The price is what the market pays today (€35.80); the fair value is what the company's own numbers justify (€30.10). For Embention Sistemas Inteligentes S.A. the two are €5.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Embention Sistemas Inteligentes S.A. worth?
The market values Embention Sistemas Inteligentes S.A. at about €170M (market capitalisation, as of Sep 23, 2026). Per share that is €35.80; our models calculate a fair value of €30.10 per share.
What do the bullish and bearish scenarios say about MLUAV?
Our models span a range for Embention Sistemas Inteligentes S.A.: cautious scenario €19.18, base €30.10, optimistic €50.64 per share (as of Sep 23, 2026, price €35.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MLUAV?
Embention Sistemas Inteligentes S.A. trades at a price-to-earnings ratio of 94.2 (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 €30.10 is built from several models across several years. Other multiples: P/B 11.4, P/S 12.7, EV/EBITDA 28.8.
How solid is the balance sheet of Embention Sistemas Inteligentes S.A. (MLUAV)?
Balance-sheet figures for Embention Sistemas Inteligentes S.A. (as of Sep 23, 2026): return on equity 34.6%, debt of 0.13 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is MLUAV from its 52-week high?
Embention Sistemas Inteligentes S.A. trades at €35.80, about 30% below its 52-week high of €51.00 and 53% above the low of €23.40 (as of Sep 9, 2026). Distance from the high says nothing about value: that is what the fair value of €30.10 is for.
Which stocks are comparable to Embention Sistemas Inteligentes S.A.?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Western Digital Corporation, Wiwynn Corporation, 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 Embention Sistemas Inteligentes S.A. stock attractive at the current price?
The data as of Sep 23, 2026: price €35.80, calculated fair value €30.10 (−16%), Quality Score 63/100, from 20 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 MLUAV calculated?
We run Embention Sistemas Inteligentes S.A. through 20 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 €30.10, 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 13.2 % above its aggregate fair value. Embention Sistemas Inteligentes S.A. itself currently trades above fair value. 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 Embention Sistemas Inteligentes S.A. (MLUAV)?
The latest price we hold is from Sep 9, 2026 and stands at €35.80. Our model-based fair value is €30.10, about −16% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Embention Sistemas Inteligentes S.A. right now?
The model range is unusually wide (€19.18 to €50.64). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Embention Sistemas Inteligentes S.A.
How large is the market capitalisation of Embention Sistemas Inteligentes S.A. (MLUAV)?
The market capitalisation of Embention Sistemas Inteligentes S.A. is €170M. 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 Embention Sistemas Inteligentes S.A. (MLUAV)?
The price-to-sales ratio of Embention Sistemas Inteligentes S.A. is 35.2 (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 Embention Sistemas Inteligentes S.A. (MLUAV)?
Earnings per share at Embention Sistemas Inteligentes S.A. are €0.3800 (price ÷ EPS = P/E 94.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Embention Sistemas Inteligentes S.A. (MLUAV)?
The net margin of Embention Sistemas Inteligentes S.A. is 37.3% (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 Embention Sistemas Inteligentes S.A. (MLUAV)?
The return on equity (ROE) of Embention Sistemas Inteligentes S.A. is 34.6% (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 Embention Sistemas Inteligentes S.A. (MLUAV)?
On an EBIT basis the return on assets of Embention Sistemas Inteligentes S.A. is 15.3% (avg 4y). 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 Embention Sistemas Inteligentes S.A. (MLUAV)?
The operating margin of Embention Sistemas Inteligentes S.A. is 39.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much net debt does Embention Sistemas Inteligentes S.A. (MLUAV) carry?
The net debt of Embention Sistemas Inteligentes S.A. is €1.9M (fiscal year 2025, ≈ 0.6 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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