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Repsol, S.A (REP) Fair Value & Analysis

Energy · ES · Market cap €25.2B

RS Repsol, S.A REP · MC
Price€25.46
Fair Value€19.07
Upside-25.1%
Quality68/100
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Mixed Growth
Thin margins · 5.0% net margin
Low debt · generates free cash flow
4.52% dividend yield
Mixed vs. peers (7/15)
Narrow moat 43/100
Evidence: Medium Range €13.35 – €22.35 Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 24 days ago

Fair value updated Jul 14, 2026, revised from €18.97 to €19.07 (+0.5%) since Jun 24, 2026. Share price +15.6% over the past month.

A solid business, but screening 25% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€22.35). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€26.50 €6.48 Fair Value €19.07 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range €6.48 – €26.50 · fair‑value band €13.35 – €22.35 · the €25.46 price screens above the €19.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Repsol, S.A (REP) currently trades at €25.46, while our model-based Fair Value estimate is €19.07, implying the stock looks roughly 25.1% overvalued today. We read business quality at 68/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Repsol, S.A generated revenue of €49.6B at a net margin of 5.0%. Revenue grew 8.4% year over year. It earns a return on equity of 9.5%. Net debt stands at €13.2B. Fundamentals as of Jul 14, 2026

Our scenario range runs from €13.35 (bear case) to €22.35 (bull case); at €25.46, the current price sits above 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 near its 52-week high and 131% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -11% fair-value upside, at -25%, REP screens richer 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 €4.36 €8.54 €14.98 80
Residual Income €19.09 €20.36 €22.32 76
Rev-Margin DCF €9.90 €19.81 €30.99 74
All 24 models by family
DCF Models
FCF DCF €3.95 €8.30 €15.42 38
Owner Earnings €0.2400 €3.72 31
5Y Revenue Exit €9.90 €19.69 €32.83 39
5Y EBITDA Exit €21.77 €40.17 €62.50 41
5Y P/E Exit €11.00 €21.60 €33.06 38
10Y Revenue Exit €6.90 €15.16 €25.04 36
10Y EBITDA Exit €14.85 €28.79 €45.42 37
10Y P/E Exit €8.20 €16.43 €25.21 35
Earnings-Based
Graham-Dodd €11.83 €22.42 €27.91 54
EPV €9.80 €12.68 €15.20 59
Dividend Discount
Gordon GGM €10.07 €13.75 €17.50 70
DDM Multi-Stage €10.07 €13.96 €18.55 61
Multiples
P/E Multiple €26.10 €34.80 €43.50 63
P/S Multiple €22.18 €29.58 €36.97 58
P/B Multiple €22.18 €29.58 €36.97 55
EV/EBIT €25.88 €36.99 €48.10 53
EV/EBITDA €38.41 €53.69 €68.98 54
EV/Revenue €15.01 €24.64 €34.27 43
Asset-Based
NCAV (Graham) €11.52 €15.43 €23.03 50
Growth DCF
Growth DCF €4.36 €8.54 €14.98 80
Rev-Margin DCF €9.90 €19.81 €30.99 74
Economic Profit
Residual Income €19.09 €20.36 €22.32 76
ROIC Compounder €9.80 €12.68 €15.20 72
Growth Earnings
Growth-Adj P/E €18.70 €26.72 €34.74 68

Widest divergence: Multiples (€29.58) versus Growth DCF (€8.54). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €49.6B
Revenue growth (YoY) +8.4%
Net margin 5.0%
Return on equity 9.5%
Free cash flow €1.2B FY2025
P/E ratio 10.3
More key figures
Operating margin 12.3%
EPS (TTM) €2.14
Dividend yield 4.8%
EPS growth (YoY) +173%
Net debt €13.2B FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 55 · Market factors (momentum, volatility) 91

Profitability 37
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 95
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

Repsol, S.A. operates as a multi-energy company in Spain, Peru, the United States, Portugal, and internationally. The Upstream segment engages in the exploration, development, and production of crude oil and natural gas reserves; and development of low-carbon geological solutions.

Full company description

Repsol, S.A. operates as a multi-energy company in Spain, Peru, the United States, Portugal, and internationally. The Upstream segment engages in the exploration, development, and production of crude oil and natural gas reserves; and development of low-carbon geological solutions. Its Industrial segment is involved in oil refining; trading, transport, and wholesale of crude oil, natural gas, and fuels; and activities related to hydrogen, sustainable biofuels, and synthetic fuels. The Customer segment engages in the mobility/gas station business; and sale of electricity and gas, lubricants, and other products, as well as fuel products, such as gasoline, diesel, aviation kerosene, liquefied petroleum gas, and biofuels. Its Low-Carbon Generation segment is involved in electricity generation from hydroelectric, wind, and photovoltaic sources. The company also engages in financial services; sector studies; human resources and shared services; decarbonization; carbon dioxide capture and pyrolysis HUB pilot plants; development of production processes, storage, transport, use, consumption, and transformation of hydrogen; promotion, design, construction, and operation of molecular recycling facilities; and production of chemical and petrochemical products. In addition, it is involved in waste management; construction and operation of oil refinery; research; electricity distribution; maritime transport and inland waterways; LNG regasification; investment in liquefaction plant; safety; electric vehicle charging points; customer and oil product marketing management; payment management at gas stations; development of greenfield and new energy projects; and insurance and reinsurance activities. Further, the company offers various apps and tools, such as Waylet, Vivit, and WiBLE; and asphalt products. The company was formerly known as Repsol YPF, S.A. and changed its name to Repsol, S.A. in May 2012. Repsol, S.A. was founded in 1927 and is headquartered in Madrid, Spain.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Repsol, S.A reported revenue of €54.9B in FY2025 versus €49.7B in FY2021, a compound +2.5%/yr. Reported net income was €1.9B in FY2025, compounding −6.6%/yr from FY2021.

Growth Quality 71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€54.9B
Latest YoY
−4.0%
Avg. growth/yr (3Y)
−7.5%
Avg. growth/yr (5Y)
+10.5%
Avg. growth/yr (38Y)
+5.8%
Revenue +2.5%/yr
FY21 €49.7B
FY22 €69.3B
FY23 €58.9B
FY24 €57.1B
FY25 €54.9B
Net income −6.6%/yr
FY21 €2.5B
FY22 €4.3B
FY23 €3.2B
FY24 €1.8B
FY25 €1.9B

REP screens 25% overvalued. Compare with Saudi Arabian Oil Company →

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Cite: Fair Value Calculator (2026). "Repsol, S.A Fair Value". https://www.fairvalue-calculator.com/stock/REP

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Oil & Gas Integrated · 54 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 68 · Top 25%
Fair Value upside −25% · Below median
Return on equity (TTM) 9% · Below median
Return on assets 4% · Below median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 12% · Below median
Revenue growth 8% · Top 25%
Dividend yield (TTM) 4.5% · Above median
Debt / equity 0.45× · Higher than median

Valuation Multiples vs Oil & Gas Integrated median · lower = cheaper

P/E (TTM) 10.8× · Cheaper than 75% of peers
P/B 1.16× · Cheaper than median
P/S (TTM) 0.59× · Cheaper than median
P/FCF 24.0× · Pricier than 75% of peers
EV/EBITDA 7.2× · Pricier than median
PEG 0.45× · Cheaper than 75% of peers

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 0 · sector 11
FUTURE 42 · sector 7
PAST 38 · sector 45
HEALTH 77 · sector 87
DIVIDEND 90 · sector 79

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Integrated stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Saudi Arabian Oil Company 2222 26.72 SAR 20.14 SAR -25%
Exxon Mobil Corporation XOM $144.51 $90.37 -37%
Chevron Corporation CHEV C$22.88 C$7.97 -65%
PetroChina Company 601857 ¥10.29 ¥16.51 +60%
Shell plc SHELL €38.04 €46.09 +21%
TotalEnergies SE TTE C$13.80 C$7.92 -43%
Petróleo Brasileiro S.A PETR3 12,540 ARS 30,914 ARS +147%
BP p.l.c., an integrated energy company, BP $40.83 $12.71 -69%
China Petroleum & Chemical Corporation 600028 ¥5.03 ¥4.46 -11%
Equinor ASA EQNR $36.19 $34.53 -5%

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Frequently asked questions

Is Repsol, S.A (REP) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of €19.07 versus a price of €25.46, about −25% (overvalued).
What is the fair value of REP?
Our model-based fair value for Repsol, S.A is €19.07 (as of Jul 14, 2026), built from audited fundamentals. The current price is €25.46.
What is the quality score of REP?
Repsol, S.A has a Quality Score of 68/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Repsol, S.A (REP)?
Repsol, S.A reported trailing-twelve-month revenue of about €49.6B (latest available figure, as of Jul 14, 2026).
What is the net profit margin of REP?
The net profit margin of Repsol, S.A is about 5.0%, meaning it keeps roughly 5.0% of revenue as net income. Based on the latest reported figures.
Does Repsol, S.A pay a dividend?
Repsol, S.A currently shows a dividend yield of about 4.83% relative to its recent price (as of Jul 14, 2026).

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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