The financial market is characterized by high volatility and a constant pursuit of capital allocation efficiency, which makes Relative Company Valuation essential for analysts and investors to determine a company s fair market value. This paper aims to estimate the Implied Value (Enterprise Value and VPA) of Embraer S.A. (EMBJ3), a key player in the aerospace sector, using the Comparable Multiples Method. The analysis is based on updated operational and market data, covering the period up to the third quarter of 2025, by comparing Embraer with a globally relevant peer group. The study utilizes multiples such as EV/EBITDA and EV/Revenue and applies sensitivity analysis to key value drivers to establish a fair price range per share. Ultimately, this range is compared to the current market price, identifying and quantifying the potential for under- or overvaluation of the company. The study reinforces the importance of relative fundamental analysis as robust support for decision-making, without constituting an investment recommendation.