Zona Franca de Iquique S.A (ZOFRI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Zona Franca de Iquique S.A CLP 1,080, price CLP 1,010, upside +6.9%, quality 82 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 24, 2026.
How to read this chart
60‑month range 189.65 CLP – 1,088 CLP · fair‑value band 690.99 CLP – 1,591 CLP · the 1,010 CLP price screens below the 1,080 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Zona Franca de Iquique S.A., together with its subsidiaries, operates premises for wholesale and retail business centers in the duty-free zones of South America. It operates distribution center for domestic and international goods; logistics center; and mall, commercial area, and industrial parks.
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Zona Franca de Iquique S.A., together with its subsidiaries, operates premises for wholesale and retail business centers in the duty-free zones of South America. It operates distribution center for domestic and international goods; logistics center; and mall, commercial area, and industrial parks. The company was incorporated in 1990 and is based in Iquique, Chile.
Stock analysis
Zona Franca de Iquique S.A (ZOFRI) currently trades at 1,010 CLP, while our model-based Fair Value estimate is 1,080 CLP, implying the stock looks roughly 6.5% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 1,538 CLP per share, and 8 of the 14 models we run sit above the 1,010 CLP price.
Bear case: the Asset-Based group reads lowest at 179.33 CLP, and 6 of the 14 models stay below the price. Evidence for this calculation is high.
Scenario range: 690.99 CLP (bear) to 1,591 CLP (bull), the price of 1,010 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 82/100 (high quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zona Franca de Iquique S.A reported revenue of 57.0B CLP in FY2025 versus 38.9B CLP in FY2021, a compound +10.0%/yr. Reported net income was 20.0B CLP in FY2025, compounding +5.6%/yr from FY2021.
Key figures
Market cap 223B CLP (≈ $223M) · P/E ratio 11.7 · P/S ratio 4.11 · EPS (TTM) 86.15 CLP · Net margin 35.0% · Return on equity 30.4% · Return on assets (EBIT) 11.2% · Operating margin 28.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 5% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 7%, ZOFRI screens cheaper than that median.
Fair Value models
Bear 690.99 CLPFair Value 1,080 CLPBull 1,591 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 (63.02 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.91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+12.9%
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.
+9.8%
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.
+14.7%
Start year 2020 (pandemic). Over 10 years: +6.2% 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.
+6.6%
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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.
+10.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.8%
Dividend (yield on the price)0.0%
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.27% → 30%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+16.6%
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 +13.2% a year for the price.
Compare Zona Franca de Iquique 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.Real Estate Services · 546 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score82 · Top 25%
Fair Value upside+7% · Above median
Profitability
Return on equity (TTM)30% · Top 25%
Return on assets7% · Top 25%
Net margin (TTM)35% · Above median
Operating margin (TTM)29% · Above median
Growth and dividend
Revenue growth−14% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.22× · Below median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Zona Franca de Iquique S.A Fair Value". https://www.fairvalue-calculator.com/stock/ZOFRI
Frequently asked questions
Is Zona Franca de Iquique S.A (ZOFRI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,080 CLP versus a price of 1,010 CLP, about +7% upside (fairly valued).
What is the fair value of ZOFRI?
Our model-based fair value for Zona Franca de Iquique S.A is 1,080 CLP (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,010 CLP.
What is the quality score of ZOFRI?
Zona Franca de Iquique S.A has a Quality Score of 82/100. 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 Zona Franca de Iquique S.A (ZOFRI)?
Our model-based price target is the fair value of 1,080 CLP (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 690.99 CLP, optimistic scenario 1,591 CLP. It is a calculation from audited fundamentals, not an analyst target.
What is the Zona Franca de Iquique S.A stock forecast for 2026?
Our models put fair value at 1,080 CLP, about +7% upside versus a price of 1,010 CLP (fairly valued). Cautious scenario 690.99 CLP, optimistic scenario 1,591 CLP. The calculation is refreshed regularly with new filings.
What is the revenue of Zona Franca de Iquique S.A (ZOFRI)?
Zona Franca de Iquique S.A reported trailing-twelve-month revenue of about 54.8B CLP (latest available figure, as of Sep 24, 2026).
What growth is priced into Zona Franca de Iquique S.A (ZOFRI)?
For today's price to be fair in a discounted-cash-flow model, Zona Franca de Iquique S.A would have to grow free cash flow by +16.6 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ZOFRI use?
Our models discount Zona Franca de Iquique S.A at 12.1 %: a base by market capitalisation (micro), damped by beta 0.28, 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 Zona Franca de Iquique S.A that is +16.6 % per year a year over ten years, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Zona Franca de Iquique S.A (ZOFRI) delivered so far?
Over the past 5 years revenue at Zona Franca de Iquique S.A grew +14.7 % a year. The price currently implies +16.6 % 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 Zona Franca de Iquique S.A (ZOFRI) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Zona Franca de Iquique S.A (+16.6 % 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 Zona Franca de Iquique S.A (ZOFRI)?
The free-cash-flow yield on the price is 4.28 %: that much free cash flow Zona Franca de Iquique S.A produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zona Franca de Iquique S.A (ZOFRI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zona Franca de Iquique S.A it is 1,080 CLP per share (as of Sep 24, 2026), against a price of 1,010 CLP. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Zona Franca de Iquique S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ZOFRI trades below its calculated fair value: price 1,010 CLP, fair value 1,080 CLP, a gap of about +7% (fairly valued). 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 ZOFRI?
No. The price is what the market pays today (1,010 CLP); the fair value is what the company's own numbers justify (1,080 CLP). For Zona Franca de Iquique S.A the two are 69.67 CLP per share apart. That gap is exactly why we show both numbers side by side.
How much is Zona Franca de Iquique S.A worth?
The market values Zona Franca de Iquique S.A at about 223B CLP (market capitalisation, as of Sep 24, 2026). Per share that is 1,010 CLP; our models calculate a fair value of 1,080 CLP per share.
What do the bullish and bearish scenarios say about ZOFRI?
Our models span a range for Zona Franca de Iquique S.A: cautious scenario 690.99 CLP, base 1,080 CLP, optimistic 1,591 CLP per share (as of Sep 24, 2026, price 1,010 CLP). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZOFRI?
Zona Franca de Iquique S.A trades at a price-to-earnings ratio of 11.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,080 CLP is built from several models across several years. Other multiples: P/B 3.8, P/S 4.1, EV/EBITDA 10.0.
How solid is the balance sheet of Zona Franca de Iquique S.A (ZOFRI)?
Balance-sheet figures for Zona Franca de Iquique S.A (as of Sep 24, 2026): return on equity 30.4%, debt of 0.22 per unit of equity. They feed the Quality Score of 82/100, which measures business quality independently of the share price.
How far is ZOFRI from its 52-week high?
Zona Franca de Iquique S.A trades at 1,010 CLP, about 7% below its 52-week high of 1,088 CLP and 5% above the low of 958.03 CLP (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,080 CLP is for.
Which stocks are comparable to Zona Franca de Iquique S.A?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 Zona Franca de Iquique S.A stock attractive at the current price?
The data as of Sep 24, 2026: price 1,010 CLP, calculated fair value 1,080 CLP (+7%), Quality Score 82/100, from 14 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 ZOFRI calculated?
We run Zona Franca de Iquique S.A through 14 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 1,080 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. Zona Franca de Iquique S.A currently trades 7 % 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 Zona Franca de Iquique S.A (ZOFRI)?
The closing price on Sep 23, 2026 was 1,010 CLP. Our model-based fair value is 1,080 CLP, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zona Franca de Iquique S.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (690.99 CLP to 1,591 CLP) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Zona Franca de Iquique S.A
How large is the market capitalisation of Zona Franca de Iquique S.A (ZOFRI)?
The market capitalisation of Zona Franca de Iquique S.A is 223B CLP (≈ $223M). 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 Zona Franca de Iquique S.A (ZOFRI)?
The price-to-sales ratio of Zona Franca de Iquique S.A is 4.11 (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 Zona Franca de Iquique S.A (ZOFRI)?
Earnings per share at Zona Franca de Iquique S.A are 86.15 CLP (price ÷ EPS = P/E 11.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zona Franca de Iquique S.A (ZOFRI)?
The net margin of Zona Franca de Iquique S.A is 35.0% (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 Zona Franca de Iquique S.A (ZOFRI)?
The return on equity (ROE) of Zona Franca de Iquique S.A is 30.4% (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 Zona Franca de Iquique S.A (ZOFRI)?
On an EBIT basis the return on assets of Zona Franca de Iquique S.A is 11.2% (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 Zona Franca de Iquique S.A (ZOFRI)?
The operating margin of Zona Franca de Iquique S.A is 28.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zona Franca de Iquique S.A (ZOFRI)?
Revenue at Zona Franca de Iquique S.A is growing −13.9% versus a year earlier (3y avg +9.8%). 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 Zona Franca de Iquique S.A (ZOFRI)?
Earnings per share at Zona Franca de Iquique S.A are growing −17.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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