Cirsa Enterprises SAU (CIRSA) Fair Value & Analysis
Consumer Cyclical · ES · Market cap €2.1B · ISIN ES0105884011
What is Cirsa Enterprises SAU really worth?
A solid business, but trading 81% above our fair value of €9.56.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 22 days ago
Share price +26.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€11.95). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (14 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.
How to read this chart
14‑month range €12.22 – €17.28 · fair‑value band €7.17 – €11.95 · the €17.28 price screens above the €9.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 13, 2026.
Analysis
Cirsa Enterprises SAU (CIRSA) currently trades at €17.28, while our model-based Fair Value estimate is €9.56, implying the stock looks roughly 80.8% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of €20.50 per share, and 10 of the 26 models we run sit above the €17.28 price. Bear case: the Asset-Based group reads lowest at €2.84, and 16 of the 26 models stay below the price. Evidence for this calculation is high.
Net debt stands at €1.9B. The stock trades on a trailing P/E of 32.6. Fundamentals as of Aug 13, 2026
Our scenario range runs from €7.17 (bear case) to €11.95 (bull case); at €17.28, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 40% above its 52-week low. For context, the median of 10 Consumer Cyclical peers we cover trades at 12% fair-value upside, at −45%, CIRSA screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.0541 per share, which is 0.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models (€20.50) versus Asset-Based (€2.84). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 68
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Cirsa Enterprises, S.A. is a gaming company, together with its subsidiaries, engages in the operation of slot machines, casinos, and gaming halls in Panama, Mexico, Colombia, Spain, Peru, Costa Rica, Dominican Republic, and Morocco. The company also involved in online betting and gambling activities, as well as providing arcade machines.
Full company description
Cirsa Enterprises, S.A. is a gaming company, together with its subsidiaries, engages in the operation of slot machines, casinos, and gaming halls in Panama, Mexico, Colombia, Spain, Peru, Costa Rica, Dominican Republic, and Morocco. The company also involved in online betting and gambling activities, as well as providing arcade machines. Cirsa Enterprises, S.A. was founded in 1978 and is based in Terrassa, Spain. Cirsa Enterprises, S.A. operates as a subsidiary of LHMC Midco S.à r.l.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Cirsa Enterprises SAU reported revenue of €1.7B in FY2025 versus €798M in FY2021, a compound +19.9%/yr. Reported net income was €72.9M in FY2025.
CIRSA screens 81% overvalued. Compare with Las Vegas Sands Corp →
Peer Group
Resorts & Casinos · 74 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.
Valuation Multiples vs Resorts & Casinos median · lower = cheaper
Strength profile in five axes (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: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Resorts & Casinos stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Las Vegas Sands Corp LVS | $46.23 | $51.60 | +12% |
| Galaxy Entertainment Group 0027 | HK$33.86 | HK$40.46 | +19% |
| Sands China Ltd 1928 | HK$14.45 | HK$19.10 | +32% |
| MGM Resorts International, through its subsidiaries, MGM | $42.28 | $17.73 | −58% |
| Wynn Resorts, Limited WYNN | $102.97 | $69.39 | −33% |
| Red Rock Resorts, Inc RRR | $58.40 | $18.01 | −69% |
| Boyd Gaming Corporation BYD | $80.63 | $151.24 | +88% |
| Caesars Entertainment, Inc CZR | $29.63 | $80.92 | +173% |
| Genting Singapore Limited G13 | 0.6700 SGD | 0.6900 SGD | +3% |
| Vail Resorts, Inc MTN | $148.36 | $132.94 | −10% |
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