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Enaex S.A (ENAEX) Fair Value & Analysis

Basic Materials · CL · Market cap 3.1T CLP

ES Enaex S.A ENAEX · SN
Price24,428 CLP
Fair Value23,574 CLP
Upside-3.5%
Quality60/100
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Healthy Growth
Thin margins · 8.5% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Moderate moat 60/100
Evidence: Medium Range 14,293 CLP – 31,411 CLP Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 23,852 CLP to 23,574 CLP (−1.2%) since Jul 16, 2026. Share price −1.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (14,293 CLP to 31,411 CLP) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

25,117 CLP 3,511 CLP Fair Value 23,574 CLP May 2018 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 3,511 CLP – 25,117 CLP · fair‑value band 14,293 CLP – 31,411 CLP · the 24,428 CLP price screens above the 23,574 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Enaex S.A (ENAEX) currently trades at 24,428 CLP, while our model-based Fair Value estimate is 23,574 CLP, implying the stock looks roughly 3.5% fairly valued today. The Quality Score stands at 60/100 (solid quality), in the Basic Materials 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, Enaex S.A generated revenue of 2.3B CLP at a net margin of 8.5%. Revenue grew 24.7% year over year. It earns a return on equity of 20.4%. Net debt stands at 324M CLP. Fundamentals as of Aug 13, 2026

Our scenario range runs from 14,293 CLP (bear case) to 31,411 CLP (bull case); at 24,428 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 4% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at -3%, ENAEX 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 10,699 CLP 20,109 CLP 37,263 CLP 80
Residual Income 9,199 CLP 11,458 CLP 33,514 CLP 76
Rev-Margin DCF 14,494 CLP 27,296 CLP 44,003 CLP 74
All 26 models by family
DCF Models
FCF DCF 10,772 CLP 20,941 CLP 39,705 CLP 38
Owner Earnings 14,814 CLP 28,567 CLP 53,934 CLP 31
5Y Revenue Exit 14,494 CLP 27,808 CLP 46,280 CLP 39
5Y EBITDA Exit 15,701 CLP 30,323 CLP 48,977 CLP 41
5Y P/E Exit 14,229 CLP 27,259 CLP 42,384 CLP 38
10Y Revenue Exit 12,619 CLP 25,147 CLP 45,064 CLP 36
10Y EBITDA Exit 14,055 CLP 27,040 CLP 47,395 CLP 37
10Y P/E Exit 13,058 CLP 24,726 CLP 41,689 CLP 35
Earnings-Based
Graham-Dodd 9,428 CLP 45,173 CLP 62,182 CLP 54
Lynch FV 12,043 CLP 17,210 CLP 22,367 CLP 50
PEG = 1.0 12,043 CLP 17,210 CLP 22,367 CLP 46
EPV 16,689 CLP 19,752 CLP 22,477 CLP 59
Dividend Discount
Gordon GGM 8,038 CLP 17,548 CLP 29,527 CLP 70
DDM Multi-Stage 8,038 CLP 14,375 CLP 18,289 CLP 61
Multiples
P/E Multiple 17,676 CLP 23,574 CLP 29,463 CLP 63
P/S Multiple 17,676 CLP 23,574 CLP 29,463 CLP 58
P/B Multiple 16,378 CLP 21,837 CLP 27,296 CLP 55
EV/EBIT 22,678 CLP 30,469 CLP 38,260 CLP 53
EV/EBITDA 19,267 CLP 25,924 CLP 32,572 CLP 54
EV/Revenue 16,195 CLP 23,428 CLP 30,670 CLP 43
Asset-Based
NCAV (Graham) 3,639 CLP 4,874 CLP 7,279 CLP 50
Growth DCF
Growth DCF 10,699 CLP 20,109 CLP 37,263 CLP 80
Rev-Margin DCF 14,494 CLP 27,296 CLP 44,003 CLP 74
Economic Profit
Residual Income 9,199 CLP 11,458 CLP 33,514 CLP 76
ROIC Compounder 19,368 CLP 26,885 CLP 36,889 CLP 72
Growth Earnings
Growth-Adj P/E 16,908 CLP 24,160 CLP 31,411 CLP 68

Widest divergence: DCF Models (27,040 CLP) versus Asset-Based (4,874 CLP). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.3B CLP
Revenue growth (YoY) +24.7%
Net margin 8.5%
Return on equity 20.4%
Free cash flow 112M CLP FY2025
P/E ratio 15.5
More key figures
Operating margin 13.1%
EPS (TTM) 1,575 CLP
EPS growth (YoY) +14.2%
Net debt 324M CLP FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 56 · Market factors (momentum, volatility) 76

Profitability 57
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 81
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

Enaex S.A., together its subsidiaries, produces and sells explosives in Chile, Argentina, Peru, Brazil, South Africa, Australia, and internationally.

Full company description

Enaex S.A., together its subsidiaries, produces and sells explosives in Chile, Argentina, Peru, Brazil, South Africa, Australia, and internationally. The company offers ammonium nitrate; non-explosive fracturer; bulk explosives, including heavy anfo pumpable and auger, pumpable emulsions with small diameter, and aquagels; emulsions and boosters; and initiation systems, such as conventional and electronic detonators, detonating cord, non-electronic initiation system, and accessories. It also provides open pit; underground; and technical mining services. In addition, the company offers courses that cover drill and blast processes; Enaex Academy, a knowledge management system; blasting and rock fragmentation services; and virtual reality training. Enaex S.A. was incorporated in 1920 and is headquartered in Las Condes, Chile. Enaex S.A. is a subsidiary of Sigdo Koppers S.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Enaex S.A reported revenue of 2.2B CLP in FY2025 versus 1.2B CLP in FY2021, a compound +16.8%/yr. Reported net income was 187M CLP in FY2025, compounding +18.9%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.2B 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.
+3.5%
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.
+21.3%
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.
+11.6%
Revenue +16.8%/yr
FY21 1.2B CLP
FY22 1.9B CLP
FY23 1.8B CLP
FY24 1.9B CLP
FY25 2.2B CLP
Net income +18.9%/yr
FY21 93.3M CLP
FY22 159M CLP
FY23 154M CLP
FY24 160M CLP
FY25 187M CLP

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

Peer Group

Specialty Chemicals · 666 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 60 · Above median
Fair Value upside −4% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 13% · Above median
Revenue growth 25% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.40× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 15.5× · Cheaper than median
P/B 3.47× · Pricier than 75% of peers
P/S (TTM) 1.49× · Pricier than median
P/FCF 30.4× · Pricier than 75% of peers
EV/EBITDA 9.2× · 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 29 · sector 0
FUTURE 100 · sector 18
PAST 82 · sector 23
HEALTH 80 · sector 95
DIVIDEND 0 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Asian Paints Limited ASIANPAINT ₹2,756 ₹664.51 -76%
Solar Industries India Limited SOLARINDS ₹18,730 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,702 ₹351.84 -79%
PT Chandra Asri Pacific Tbk TPIA 2,160 IDR 2,322 IDR +8%
Berger Paints India Limited BERGEPAINT ₹559.80 ₹154.46 -72%
Gujarat Fluorochemicals Limited FLUOROCHEM ₹4,566 ₹836.47 -82%
Himadri Speciality Chemical Limited HSCL ₹778.15 ₹248.63 -68%

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Frequently asked questions

Is Enaex S.A (ENAEX) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 23,574 CLP versus a price of 24,428 CLP, about −3% (fairly valued).
What is the fair value of ENAEX?
Our model-based fair value for Enaex S.A is 23,574 CLP (as of Aug 13, 2026), built from audited fundamentals. The current price is 24,428 CLP.
What is the quality score of ENAEX?
Enaex S.A has a Quality Score of 60/100. 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 Enaex S.A (ENAEX)?
Enaex S.A reported trailing-twelve-month revenue of about 2.3B CLP (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ENAEX?
The net profit margin of Enaex S.A is about 8.5%, meaning it keeps roughly 8.5% 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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