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What is 'Fair Market Value - FMV' In its simplest sense, fair market value (FMV) is the price that property would sell for on the open market.
It is the Morningstar analyst's estimate of what the stock is worth. The Fair Value Estimate should be used in conjunction with our Economic Moat rating and our Business Risk rating. See also Business Risk, Economic Moat, Morningstar Rating for Stocks.