ATLASUndervalued Stocks in Spain (October 2026)
ATLAS compares every company's price with its estimated fair value. Of 130 listed companies in Spain, 25 trade between 10% and 70% below that estimate, with medium or high confidence in it and positive earnings. The median gap among them is 32% below fair value. Here are the 25 with the widest gap.
Data as of Oct 27, 2026. Prices and ratios are the latest stored close; this page refreshes at least every 6 hours.
| # | Company | Price | Below fair value |
|---|---|---|---|
| 1 | GSJ.MCGrupo Empresarial San Jose | €7.02 | 59% |
| 2 | ANE.MCCorporacion Acciona Energias Renovables | €21.54 | 54% |
| 3 | DOM.MCGlobal Dominion Access | €2.58 | 53% |
| 4 | SLR.MCSolaria Energía y Medio Ambiente | €14.20 | 49% |
| 5 | GRF.MCGrifols | €10.71 | 48% |
| 6 | TRE.MCTecnicas Reunidas | €27.60 | 48% |
| 7 | AMS.MCAmadeus IT | €56.70 | 46% |
| 8 | CAF.MCConstrucciones y Auxiliar de Ferrocarriles | €78.30 | 45% |
| 9 | CBAV.MCClinica Baviera | €53.00 | 43% |
| 10 | MEL.MCMelia Hotels | €10.30 | 43% |
| 11 | ALM.MCAlmirall | €10.40 | 34% |
| 12 | LOG.MCCia de Distribucion Integral | €37.08 | 32% |
| 13 | A3M.MCAtresmedia Corporación de Medios de Comunicación | €5.83 | 32% |
| 14 | DIA.MCDistribuidora Internacional de Alimentación | €45.50 | 32% |
| 15 | NTGY.MCNaturgy Energy | €30.54 | 31% |
| 16 | EBRO.MCEbro Foods | €18.22 | 28% |
| 17 | FDR.MCFluidra | €18.06 | 27% |
| 18 | RED.MCRedeia Corporacion | €15.02 | 26% |
| 19 | ROVI.MCLaboratorios Farmaceuticos ROVI | €61.40 | 25% |
| 20 | MAP.MCMapfre | €4.31 | 25% |
| 21 | AENA.MCAena | €26.62 | 23% |
| 22 | REP.MCRepsol | €29.45 | 20% |
| 23 | ENO.MCElecnor | €29.40 | 15% |
| 24 | MCM.MCMiquel y Costas & Miquel | €9.90 | 13% |
| 25 | SAB.MCBanco de Sabadell | €3.52 | 12% |
Fair value gap: a negative number means the price is below ATLAS fair value. "Chance up" is the probability of a higher close in 21 trading sessions (about a month) in ATLAS's calibrated model.
The top 10 in a sentence
- Grupo Empresarial San Jose (GSJ.MC) trades 59% below ATLAS fair value, at a P/E of 8.1. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 52% chance of closing higher in a month.
- Corporacion Acciona Energias Renovables (ANE.MC) trades 54% below ATLAS fair value, at a P/E of 37.9. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 51% chance of closing higher in a month.
- Global Dominion Access (DOM.MC) trades 53% below ATLAS fair value, at a P/E of 19.8. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 54% chance of closing higher in a month.
- Solaria Energía y Medio Ambiente (SLR.MC) trades 49% below ATLAS fair value, at a P/E of 7.8. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 49% chance of closing higher in a month.
- Grifols (GRF.MC) trades 48% below ATLAS fair value, at a P/E of 15.3. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 50% chance of closing higher in a month.
- Tecnicas Reunidas (TRE.MC) trades 48% below ATLAS fair value, at a P/E of 13.5. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 49% chance of closing higher in a month.
- Amadeus IT (AMS.MC) trades 46% below ATLAS fair value, at a P/E of 18.7. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 52% chance of closing higher in a month.
- Construcciones y Auxiliar de Ferrocarriles (CAF.MC) trades 45% below ATLAS fair value, at a P/E of 15.5. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 51% chance of closing higher in a month.
- Clinica Baviera (CBAV.MC) trades 43% below ATLAS fair value, at a P/E of 19.0. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 53% chance of closing higher in a month.
- Melia Hotels (MEL.MC) trades 43% below ATLAS fair value, at a P/E of 13.7. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 53% chance of closing higher in a month.
How ATLAS finds undervalued stocks in Spain
Fair value is ATLAS estimate of what a share is worth given the company's cash flows and the multiples of comparable companies, refreshed every night. The gap is price divided by fair value, minus 1. We keep gaps between 10% and 70% below fair value: deeper gaps usually signal bad inputs or a business in trouble rather than a bargain.
Only estimates with medium or high confidence count. The company must also have positive earnings (positive P/E or margin), a market value above USD 300 million and enough trading volume. The list is sorted by the size of the gap.
Limits: a share can stay below its estimated value for years, and the model can be wrong, especially for banks, cyclical businesses and companies with one-off items. Being below fair value is not a recommendation to buy. The probability of a higher close is shown for context. This is information, not investment advice.
Frequently asked questions
Which stocks in Spain are the most undervalued?
In October 2026, the widest gaps below ATLAS fair value among 25 qualifying companies belong to Grupo Empresarial San Jose, Corporacion Acciona Energias Renovables, and Global Dominion Access. Grupo Empresarial San Jose leads at 59% below its estimate.
What does "undervalued" mean here?
That the share price is at least 10% below ATLAS estimate of what the company is worth, using cash flows and comparable multiples. It is a model output, not a judgement on the business.
Does undervalued mean the stock will go up?
No. Prices can stay below estimated value for years, and estimates change when results change. The one-month probability in the table is separate and is close to a coin flip for most stocks.
How much of the market in Spain looks undervalued?
25 of 130 listed companies pass the filter. The median gap among them is 32% below fair value, and 6 of them are in Industrials, the most represented sector.
How often is this list updated?
Fair values are refreshed every night and this page is rebuilt at least every 6 hours. The month in the title follows the date of the data.
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Information only, not investment advice. ATLAS estimates come from statistical models using public data; they can be wrong, and past results do not guarantee future ones. Disclaimer