Independent equity research
Is Puig Brands (PUIG) a Buy, Hold or Sell?
Puig Brands — our independent, AI-built valuation and rating, in brief.
HOLD
12-mo fair value
€17.52
To fair value
−1%
By · report dated 2026-09-14 · fair value derived independently of the market price.
The thesis, in brief
Puig at EUR 17.45 already discounts our own central path, so the stock is fairly priced rather than cheap; we are wrong if FY2026 adjusted EBITDA margin holds 20.7% while like-for-like growth re-accelerates above 6% and Make-up and Skincare operating margins recover above 8% and 5%
How we value it
We value Puig Brands using Probability-weighted unlevered DCF (30/45/25), 8.09% WACC, 2.25% terminal g, peer multiple cross-check. 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 Puig Brands report
The complete model, the scenarios, and every number behind the call — plus other names across the coverage. One subscription, cancel anytime.