Independent equity research
Is Repsol S.A. (REP) a Buy, Hold or Sell?
Repsol S.A. — our independent, AI-built valuation and rating, in brief.
BUY (accumulate)
12-mo fair value
€32.00
To fair value
+11%
By · report dated 2026-09-01 · fair value derived independently of the market price.
The thesis, in brief
At EUR 27.63 Repsol trades on 7.5x 2027E earnings against a European integrated median of 10.4x and yields ~11% on free cash flow at management's own USD 65 Brent deck; if the captured refining margin holds above USD 11/bbl through 2027 the shares are worth EUR 32, if it reverts to USD 8 they are worth EUR 20
How we value it
We value Repsol S.A. using Scenario FCF DCF at 9.0% WACC on a stated Brent deck, cross-checked on EV/DACF. 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 Repsol S.A. report
The complete model, the scenarios, and every number behind the call — plus other names across the coverage. One subscription, cancel anytime.