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Puig Brands SA (PUIG) Fair Value & Analysis

Consumer Defensive · ES · Market cap €16.0B · ISIN ES0105777017

What is Puig Brands SA really worth?

PB Puig Brands SA PUIG · MC
Price€18.32
Fair Value€13.09
Upside−28.6%
Quality60/100

A solid business, but trading 40% above our fair value of €13.09.

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Strengths

Healthy Growth (revenue 5y +26.8 %/yr)
Solidly profitable · 11.8% net margin
Low debt · generates free cash flow

Risks

!Mixed vs. peers (7/15)
!Moderate moat 60/100
!Weak on future: 24 out of 100
Evidence: High Range €9.63 – €16.36

Fair value as of: Aug 19, 2026

From 26 valuation models · updated 17 days ago

Fair value updated Aug 19, 2026, revised from €13.30 to €13.09 (−1.6%) since Aug 13, 2026. Share price +7.8% 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 (€16.36). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (2 years)

€26.31 €12.84 Fair Value €13.09 May 2024 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

28‑month range €12.84 – €26.31 · fair‑value band €9.63 – €16.36 · the €18.32 price screens above the €13.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Puig Brands SA (PUIG) currently trades at €18.32, while our model-based Fair Value estimate is €13.09, implying the stock looks roughly 40.0% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of €20.48 per share, and 8 of the 26 models we run sit above the €18.32 price. Bear case: the Asset-Based group reads lowest at €3.00, and 18 of the 26 models stay below the price. Evidence for this calculation is high.

Net debt stands at €1.0B. The stock trades on a trailing P/E of 15.9 (as of Jul 19, 2026). Fundamentals as of Aug 19, 2026

Our scenario range runs from €9.63 (bear case) to €16.36 (bull case); at €18.32, 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 about 3% below its 52-week high and 40% above its 52-week low. For context, the median of 10 Consumer Defensive peers we cover trades at −36% fair-value upside, at −29%, PUIG screens cheaper 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 €0.7134 per share, which is 5.5 % 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.

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
FCF DCF €12.59 €23.40 €48.03 75
Growth DCF €12.29 €24.24 €42.87 75
EPV €7.03 €8.14 €9.12 74
All 26 models by family
DCF Models
FCF DCF €12.59 €23.40 €48.03 75
Owner Earnings €11.41 €22.47 €43.42 72
5Y Revenue Exit €8.37 €14.37 €22.67 71
5Y EBITDA Exit €11.81 €21.92 €35.17 73
5Y P/E Exit €11.15 €20.48 €31.67 69
10Y Revenue Exit €9.41 €15.81 €26.09 65
10Y EBITDA Exit €11.98 €21.55 €37.23 66
10Y P/E Exit €11.53 €20.46 €34.11 62
Earnings-Based
Graham-Dodd €4.64 €26.25 €36.48 63
Lynch FV €7.37 €10.53 €13.68 61
PEG = 1.0 €7.37 €10.53 €13.68 57
EPV €7.03 €8.14 €9.12 74
Dividend Discount
Gordon GGM €2.24 €4.65 €7.38 66
DDM Multi-Stage €2.24 €3.92 €4.88 66
Multiples
P/E Multiple €10.74 €14.32 €17.90 63
P/S Multiple €6.95 €9.26 €11.58 58
P/B Multiple €8.69 €11.59 €14.49 55
EV/EBIT €12.26 €16.23 €20.19 66
EV/EBITDA €12.10 €16.01 €19.92 67
EV/Revenue €6.44 €9.05 €11.66 54
Asset-Based
NCAV (Graham) €2.24 €3.00 €4.48 54
Growth DCF
Growth DCF €12.29 €24.24 €42.87 75
Rev-Margin DCF €8.37 €14.22 €22.29 71
Economic Profit
Residual Income €4.54 €5.95 €16.43 67
ROIC Compounder €8.25 €11.68 €16.54 71
Growth Earnings
Growth-Adj P/E €10.99 €15.71 €20.42 67

Widest divergence: DCF Models (€20.48) versus Asset-Based (€3.00). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 15.9 as of Jul 19, 2026
P/S ratio 1.88 P/E × margin
EPS (TTM) €1.05 price ÷ EPS = P/E 15.9
Dividend yield 2.3% payout 39.6%
Net margin 11.8% FY2025
Return on assets (EBIT) 8.0% avg 5y
More key figures
Balance sheet & cash flow
Free cash flow €757M FY2025
Net debt €1.0B FY2025 · ≈ 1.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 61 · Market factors (momentum, volatility) 70

Profitability 55
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 62
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.

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

Puig Brands, S.A. operates in the beauty and fashion industry in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company operates through three segments: Fragrance and Fashion, Makeup, and Skincare.

Full company description

Puig Brands, S.A. operates in the beauty and fashion industry in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company operates through three segments: Fragrance and Fashion, Makeup, and Skincare. The Fragrance and Fashion segment designs, develops, and markets fragrances in various forms, including eau de parfum sprays and colognes, lotions, powders, creams, candles, and soaps, that are based on a particular fragrance, as well as clothing, footwear and accessories under the Carolina Herrera, Jean Paul Gaultier, Nina Ricci, Rabanne, Byredo, Christian Louboutin, Dries Van Noten, L'Artisan Parfumeur, Penhaligon's, Adolfo Domínguez, and Banderas brands. The Makeup segment engages in the creation, marketing, and sale of a range of cosmetic products, such as foundations, concealers, lipsticks, lip glosses, eyeliners, blushes, mascaras, and eyeshadows under the Carolina Herrera, Charlotte Tilbury, Rabanne, Byredo, Christian Louboutin, and Dries Van Noten brands. The Skincare segment offers cleansers, toners, moisturizers, serums, body care, exfoliators, acne, and oil correctors, facial masks, and sun care products under the Uriage, Apivita, Dr.Barbara Sturm, Kama Ayurveda, Loto del Sur, and Charlotte Tilbury brands. It sells its products in department stores, warehouses, pharmacies, drug stores, travel retail, spas, and Puig's own shops through digital channels, brands' own e-commerce, and distributors. The company was incorporated in 1914 and is based in Barcelona, Spain. Puig Brands, S.A. is a subsidiary of Puig, S.L.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Puig Brands SA reported revenue of €5.0B in FY2025 versus €2.6B in FY2021, a compound +18.2%/yr. Reported net income was €594M in FY2025, compounding +28.0%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€5.0B
Latest YoY
+5.3%
Avg. revenue 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.
+11.7%
Avg. revenue 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.
+26.8%
Avg. revenue growth/yr (7Y) 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%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+24.0% (21.7 + 2.3)
Revenue +18.2%/yr
FY21 €2.6B
FY22 €3.6B
FY23 €4.3B
FY24 €4.8B
FY25 €5.0B
Net income +28.0%/yr
FY21 €221M
FY22 €399M
FY23 €465M
FY24 €531M
FY25 €594M

PUIG screens 40% overvalued. Compare with L'Oréal S.A →

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Cite: Fair Value Calculator (2026). "Puig Brands SA Fair Value". https://www.fairvalue-calculator.com/stock/PUIG

Peer Group

Household & Personal Products · 244 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 −29% · Below median
Return on equity (TTM) 17% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 2.3% · Below median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 15.9× · Cheaper than median
P/B 4.77× · Pricier than 75% of peers
P/S (TTM) 3.69× · Pricier than 75% of peers
P/FCF 24.6× · Pricier than 75% of peers
EV/EBITDA 19.0× · Pricier than 75% of peers
PEG 2.78× · Pricier than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 28
FUTURE24 · sector 8
PAST66 · sector 27
HEALTH91 · sector 98
DIVIDEND45 · sector 56

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.

None of the checked exposures detected

Similar stocks

10 more Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
L'Oréal S.A LORL C$24.76 C$22.64 −9%
Unilever PLC UNA €55.92 €40.47 −28%
Colgate-Palmolive Company CL $90.75 $55.28 −39%
500696 500696 ₹2,093 ₹641.55 −69%
Hindustan Unilever Limited HINDUNILVR ₹2,015 ₹789.46 −61%
Kenvue Inc KVUE $18.95 $10.97 −42%
Kimberly-Clark Corporation KMB $109.55 $79.71 −27%
Henkel AG HEN3 €75.82 €85.95 +13%
The Estée Lauder Companies Inc ESLA €86.54 €18.84 −78%
Church & Dwight Co CHD $101.26 $65.12 −36%

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Frequently asked questions

Is Puig Brands SA (PUIG) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of €13.09 versus a price of €18.32, about −29% upside (overvalued).
What is the fair value of PUIG?
Our model-based fair value for Puig Brands SA is €13.09 (as of Aug 19, 2026), built from audited fundamentals. The current price: €18.32.
What is the quality score of PUIG?
Puig Brands SA 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 net profit margin of PUIG?
The net profit margin of Puig Brands SA is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does Puig Brands SA pay a dividend?
Puig Brands SA currently shows a dividend yield of about 2.27% relative to its recent price (as of Aug 19, 2026).
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