Independent equity research
Is Puig Brands (PUIG) a Buy, Hold or Sell?
Puig Brands — our independent, AI-built valuation and rating, in brief.
HOLD (trim into strength)
12-mo fair value
€16.20
To fair value
−7%
By · report dated 2026-08-21 · fair value derived independently of the market price.
The thesis, in brief
Puig's owned-brand fragrance engine earns 13.2% ROIC against an 8.15% WACC, but H1 2026 halved like-for-like growth to 4.4% and cut Make-up and Skincare operating margins to 1.8% and 1.5%, so EUR 17.12 already pays for a convergence the numbers are moving away from
How we value it
We value Puig Brands using Probability-weighted three-scenario unlevered DCF, cross-checked on forward P/E. 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.