5 models fit Nexans S.A. and they disagree: 1 of 5 land within 15% of the average.
Two or more of our models back this value.
Near fair value(i)Bronze45
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionNexans S.A. (NEX.PA)
Fair value (5 models)
€111
ACCE price target
€136
Rating
Fairly valued
Horizon
12 months
Fair value published on 24 Oct 2026, 16:06 CEST; previously €119 since 13 Oct 2026, 00:00 CEST.
ACCE price target published on 18 Oct 2026, 01:52 CEST; previously €140 since 27 Sept 2026, 00:00 CEST.
Rating published on 24 Oct 2026, 16:06 CEST.
Price used: €114 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
2.5% above
-2.5% to fair value
ACCE score
46
out of 100
1-year return
-7.3%
Dividend yield
2.38%
Nexans S.A. in four questions
Plain answers, details below
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Overview
ACCE thesis
Nexans makes power and data cables, from high-voltage submarine and underground links for offshore wind and grid interconnectors to the copper and fibre cabling used in buildings and data centres. Its edge is the scarce capability to manufacture and install ultra-high-voltage and subsea systems, a niche with long qualification cycles and few qualified suppliers, which gives it pricing power in grid and renewables projects. The near-term driver is the multi-year build-out of transmission and offshore wind capacity in Europe and North America, where backlog conversion should keep revenue moving; reported revenue growth is 19.1%. At a forward P/E of 14.2 the shares are not priced for the scale of that demand, but the 6.3% operating margin and 9.8% ROE are thin for a company this exposed to project execution, and the 53/100 score reflects that tension. It merits a deeper look focused on margin trajectory and order book quality rather than headline growth.