The Discounted Cash Flow (DCF) valuation of Accor SA (AC.PA) is 58.67 EUR. With the latest stock price at 47.36 EUR, the upside of Accor SA based on DCF is 23.9%.

Is AC.PA a buy or a sell?

Based on the latest price of 47.36 EUR and our DCF valuation, Accor SA (AC.PA) is a buy. Buying AC.PA stocks now will result in a potential gain of 23.9%.

	Range	Selected
WACC / Discount Rate	5.7% - 7.1%	6.4%
Long-term Growth Rate	1.0% - 3.0%	2.0%
Fair Price	40.44 - 100.23	58.67
Upside	-14.6% - 111.6%	23.9%

47.36 EUR

Stock Price

58.67 EUR

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

AC.PA DCF Valuation: Revenue & Expenses Forecast

(EUR in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	5,606	5,882	6,438	7,438	8,510	9,457
% Growth	11%	5%	9%	16%	14%	11%

Cost of goods sold	(134)	(141)	(154)	(178)	(203)	(226)
% of Revenue	2%	2%	2%	2%	2%	2%

Selling, G&A expenses	(4,352)	(4,566)	(4,998)	(5,774)	(6,606)	(7,341)
% of Revenue	78%	78%	78%	78%	78%	78%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(271)	(284)	(311)	(360)	(411)	(457)
% of Revenue	5%	5%	5%	5%	5%	5%

Tax expense	(193)	(147)	(161)	(187)	(213)	(237)
Tax rate	23%	17%	17%	17%	17%	17%

Net profit	656	743	814	940	1,075	1,195
% Margin	12%	13%	13%	13%	13%	13%