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Zona Franca de Iquique S.A (ZOFRI) Fair Value & Analysis

Real Estate · CL · Market cap 218B CLP

ZF Zona Franca de Iquique S.A ZOFRI · SN
Price1,034 CLP
Fair Value1,281 CLP
Upside+23.9%
Quality82/100
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Mixed Growth
Highly profitable · 34.6% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Wide moat 80/100
Evidence: High Range 800.64 CLP – 2,233 CLP Share as image

Fair value as of: Jul 27, 2026

From 14 valuation models · updated 14 days ago

Share price +4.2% over the past month.

A strong business, screening 24% undervalued on our models.

What matters now

  • The model range is unusually wide (800.64 CLP to 2,233 CLP). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

1,088 CLP 189.65 CLP Fair Value 1,281 CLP Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.

How to read this chart

60‑month range 189.65 CLP – 1,088 CLP · fair‑value band 800.64 CLP – 2,233 CLP · the 1,034 CLP price screens below the 1,281 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 27, 2026.

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Analysis

Zona Franca de Iquique S.A (ZOFRI) currently trades at 1,034 CLP, while our model-based Fair Value estimate is 1,281 CLP, implying the stock looks roughly 23.9% undervalued today. The Quality Score stands at 82/100 (high quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Zona Franca de Iquique S.A generated revenue of 54.8B CLP at a net margin of 34.6%. Revenue declined 13.9% year over year. It earns a return on equity of 30.4%. The stock trades on a trailing P/E of 11.5. Fundamentals as of Jul 27, 2026

Our scenario range runs from 800.64 CLP (bear case) to 2,233 CLP (bull case); at 1,034 CLP, the current price sits within 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 about 11% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -9% fair-value upside, at 24%, ZOFRI screens cheaper 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 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
Highest evidence
Growth DCF 693.42 CLP 1,071 CLP 1,715 CLP 80
Residual Income 685.02 CLP 975.34 CLP 9,314 CLP 76
Rev-Margin DCF 773.02 CLP 1,222 CLP 1,763 CLP 74
All 14 models by family
DCF Models
FCF DCF 687.46 CLP 1,068 CLP 1,712 CLP 38
5Y Revenue Exit 773.02 CLP 1,230 CLP 1,834 CLP 39
5Y EBITDA Exit 1,030 CLP 1,731 CLP 2,582 CLP 41
10Y Revenue Exit 716.52 CLP 1,140 CLP 1,750 CLP 36
10Y EBITDA Exit 910.15 CLP 1,504 CLP 2,357 CLP 37
Multiples
P/S Multiple 1,154 CLP 1,538 CLP 1,923 CLP 58
P/B Multiple 401.48 CLP 535.30 CLP 669.13 CLP 55
EV/EBIT 1,399 CLP 1,818 CLP 2,238 CLP 53
EV/EBITDA 1,305 CLP 1,692 CLP 2,080 CLP 54
EV/Revenue 835.05 CLP 1,132 CLP 1,430 CLP 43
Asset-Based
NCAV (Graham) 133.83 CLP 179.33 CLP 267.65 CLP 50
Growth DCF
Growth DCF 693.42 CLP 1,071 CLP 1,715 CLP 80
Rev-Margin DCF 773.02 CLP 1,222 CLP 1,763 CLP 74
Economic Profit
Residual Income 685.02 CLP 975.34 CLP 9,314 CLP 76

Widest divergence: Multiples (1,538 CLP) versus Asset-Based (179.33 CLP). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 54.8B CLP
Revenue growth (YoY) -13.9%
Net margin 34.6%
Return on equity 30.4%
Free cash flow 9.5B CLP FY2025
P/E ratio 11.5
More key figures
Operating margin 28.9%
EPS (TTM) 86.15 CLP
EPS growth (YoY) -17.3%

Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 82/100

Of which business quality 79 · Market factors (momentum, volatility) 61

Profitability 70
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 82
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
57.0B CLP
Latest YoY
+12.9%
Avg. 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.
+9.8%
Avg. 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.
+14.7%
Avg. growth/yr (11Y) 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.
+6.6%
Revenue +10.0%/yr
FY21 38.9B CLP
FY22 43.0B CLP
FY23 48.2B CLP
FY24 50.5B CLP
FY25 57.0B CLP
Net income +5.6%/yr
FY21 16.1B CLP
FY22 16.6B CLP
FY23 17.7B CLP
FY24 18.5B CLP
FY25 20.0B CLP

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Cite: Fair Value Calculator (2026). "Zona Franca de Iquique S.A Fair Value". https://www.fairvalue-calculator.com/stock/ZOFRI

Peer Group

Real Estate Services · 520 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 82 · Top 25%
Fair Value upside +24% · Above median
Return on equity (TTM) 30% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 35% · Above median
Operating margin (TTM) 29% · Above median
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than median
P/B 3.70× · Pricier than 75% of peers
P/S (TTM) 3.99× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 9.7× · Cheaper than median

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 65 · sector 37
FUTURE 0 · sector 10
PAST 100 · sector 16
HEALTH 89 · sector 85
DIVIDEND 0 · sector 49

Insider activity: 40/100

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

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

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).

Stock Price Fair Value vs Fair Value
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KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.92 HK$34.92 -13%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%

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Frequently asked questions

Is Zona Franca de Iquique S.A (ZOFRI) overvalued or undervalued?
As of Jul 27, 2026, our model estimates a fair value of 1,281 CLP versus a price of 1,034 CLP, about +24% (undervalued).
What is the fair value of ZOFRI?
Our model-based fair value for Zona Franca de Iquique S.A is 1,281 CLP (as of Jul 27, 2026), built from audited fundamentals. The current price is 1,034 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 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 Jul 27, 2026).
What is the net profit margin of ZOFRI?
The net profit margin of Zona Franca de Iquique S.A is about 34.6%, meaning it keeps roughly 34.6% of revenue as net income. Based on the latest reported figures.

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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