Independent equity research
Is CIE Automotive, S.A. (CIE) a Buy, Hold or Sell?
CIE Automotive, S.A. — our independent, AI-built valuation and rating, in brief.
BUY (accumulate)
12-mo fair value
€32.93
To fair value
+30%
By · report dated 2026-09-20 · fair value derived independently of the market price.
The thesis, in brief
CIE's c.19% EBITDA margin and c.50% EBITDA-to-FCFF conversion are durable, so a stock priced at our bear case (8.1x 2026E EPS) should re-rate towards EUR 32.93; we are wrong if group EBITDA margin falls below 18% for two straight quarters or 2027 organic sales growth trails light-vehicle production
How we value it
We value CIE Automotive, S.A. using SOTP: CIE India stake at market + rest-of-group FCFF DCF (WACC 9.07%, g 2.0%). The 12-month fair value is set from that intrinsic estimate first, then compared to the market to read the upside or downside — never anchored to the current price.
What the full report covers
- Business & moat + industry cycle
- Earnings quality & normalized EPS
- Returns on capital (ROIC vs WACC)
- Balance-sheet safety
- Two independent valuations (DCF + multiples)
- Bear / base / bull fair values
- Earnings-call analysis
- Insider activity & positioning
- Technicals (RSI / ADX)
- A falsifiable thesis
Read the full CIE Automotive, S.A. report
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