Calculatrice Valeur Intrinsèque

Intrinsic value is the true underlying worth of a stock based on its fundamentals — earnings, cash flows, growth, and risk. It is the price a rational investor would pay if they knew the company's entire future financial picture.

Unlike market price, which can be swayed by emotion, momentum, and short-term news, intrinsic value is anchored in measurable financial data. When the market price falls below intrinsic value, the stock may be undervalued.

Our calculator runs 7 independent valuation models — DCF, Graham, P/E, P/S, DDM, EV/EBITDA, and Dividend Yield — to give you a consensus fair value with confidence score.

1. Search for a ticker above (e.g. AAPL) or enter financial data manually.
2. Review the core inputs: EPS, Free Cash Flow, Shares Outstanding, Growth Rate, and Discount Rate.
3. Optionally adjust extended inputs for all 7 valuation models.
4. Click "Calculate Fair Value" to run the models and see the AI consensus.
5. Compare the calculated fair value to the current market price to determine if the stock is undervalued, fair, or overvalued.

Different companies suit different models. Here is a quick guide:

DCF (Discounted Cash Flow)

Idéal pour : entreprises avec un free cash flow stable

Graham Formula

Idéal pour : entreprises avec un historique de profits à long terme

P/E Multiplier

Idéal pour : entreprises avec un historique P/E clair

EV/EBITDA

Idéal pour : entreprises intensives en capital où la structure de la dette compte

The DCF model calculates intrinsic value by summing the present value of all future free cash flows plus a terminal value. It is the gold standard for valuing cash-flow-generating businesses.

Formula:

Where FCF = Free Cash Flow, g = growth rate, r = discount rate (WACC), TV = Terminal Value = FCF_n * (1+g_terminal) / (r - g_terminal)

Example: A company with $1B FCF, 8% growth, 9% WACC, and 2.5% terminal growth yields a fair value per share of ~$142 after adjusting for debt and cash.

Benjamin Graham's formula estimates intrinsic value using earnings per share, expected growth, and the current AAA corporate bond yield. It is simple, conservative, and battle-tested since 1962.

Formula:

Where EPS = Earnings Per Share, g = expected growth rate (%), Y = current AAA bond yield (%).

Example: A stock with $5 EPS, 8% expected growth, and 4.4% AAA yield yields a fair value of $5 * (8.5 + 16) * (4.4 / 4.4) = $122.50.

Voici un résumé des 7 formules utilisées par notre calculateur :

DCF:

Fair Value = PV(FCF) + Terminal Value - Net Debt / Shares

Graham:

FV = EPS * (8.5 + 2g) * (4.4 / Y)

P/E:

FV = Avg P/E * EPS

P/S:

FV = Avg P/S * Revenue / Shares

DDM:

FV = DPS * (1 + g) / (r - g)

EV/EBITDA:

FV = (EV/EBITDA * EBITDA - Debt + Cash) / Shares

Div Yield:

FV = DPS / Avg Dividend Yield

La marge de sécurité est la décote entre la valeur rationnelle calculée et le prix du marché actuel.

Règle empirique : recherchez une marge de sécurité d'au moins 20-30% pour les actions sous-évaluées.

Passons en revue Apple (AAPL) en utilisant des approximations du monde réel :

• EPS = $6.50
• FCF = $100B
• Actions en circulation = 15,5B
• Taux de croissance = 6%
• Taux d'actualisation (WACC) = 8,5%

Valeur rationnelle DCF par action ≈ $142 Valeur rationnelle Graham ≈ $175

Ce sont des estimations illustratives. Vérifiez toujours avec les données financières les plus récentes.