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3I Infrastructure PLC (3IN) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of 3I Infrastructure PLC stock £4.16, price £3.96, upside +5.1%, quality 52 out of 100. Rating: fairly valued. Calculated from audited financials with 8 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services GB · ISIN JE00BF5FX167

3I 3I Infrastructure PLC logo Broad data Nov 6, 2026

3I Infrastructure PLC

3IN · LSE
Fairly valued, in an uptrend

The stock costs about what our calculation considers fair.

Highly profitable · 72.1% net margin (TTM)
Low debt
Broad data
Fair value £4.16 · Fairly valued (+5.1%)
Quality 52/100
Mixed Growth (revenue 5y +10.0 %/yr in GBP)
3.4% dividend yield · Watch coverage
Moderate moat 60/100
Revenue last quarter 62% below a year ago.
Negative free cash flow
Trails peers (5/13)
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

£4.00 £2.49 Fair Value £4.16 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range £2.49 – £4.00 · fair‑value band £3.12 – £5.20 · the £3.96 price screens below the £4.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.

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Company profile

3i Infrastructure plc is an investment firm specializing in infrastructure investments.

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The firm invests in early stage assets, mature assets, middle markets, mid venture, acquisitions, and projects and privatizations undergoing a period of operational ramp-up. It may invest in junior or mezzanine debt in infrastructure businesses or assets.

The firm primarily invests in core infrastructure companies and assets with a focus on the utilities, transportation, energies, social infrastructure and adjacent sectors; primary PPP with a focus on greenfield projects in education, transport, healthcare; public sector accommodation sectors and low-risk energy projects with a focus on wind, solar, offshore transmission in developed markets; and mid-market economic infrastructure with a focus on low-risk energy projects.

It primarily invests in unquoted companies, but may also invest in listed companies. The firm seeks to invest across the world, but with an initial focus on Europe, North America, Asia, the United Kingdom. It seeks to invest more than £50 million ($69.33 million) for an individual investment.

The firm typically invests between £5 million ($6.93 million) and £50 million ($69.33 million) in primary PPP sector and £50 million and £250 million ($346.66 million) in low-risk energy projects in mid-market economic infrastructure.

The firm seeks board representation in its portfolio companies and in cases where it acquires a majority equity interest in a business, that interest may also be a controlling interest.

It primarily exits its investments between 20 to 30 years. 3i Infrastructure plc was founded on January 16, 2007 and is based in St. Helier, Channel Islands with an additional office in London, United Kingdom.

Stock analysis

3I Infrastructure PLC (3IN) currently trades at £3.96, while our model-based Fair Value estimate is £4.16, so the stock looks roughly fairly valued today (gap 4.8%).

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Valuation

Bull case: the Multiples group reads highest at a median of £4.92 per share, and 3 of the 8 models we run sit above the £3.96 price.

Bear case: the Dividend Discount group reads lowest at £2.19, and 5 of the 8 models stay below the price. Data coverage for this calculation is high.

Scenario range: £3.12 (bear) to £5.20 (bull), the price of £3.96 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 52/100 (solid quality), in the Financial Services sector.

Mixed Growth: Spin-off in 2026: revenue and profit before it include the divested business. Growth is measured afresh from 2026.

3I Infrastructure PLC reported revenue of £218M in FY2026 versus £412M in FY2022, a compound −14.7%/yr. Reported net income was £295M in FY2026, compounding −7.6%/yr from FY2022.

Key figures

Market cap £3.7B Mid · P/E ratio 12.4 · P/S ratio 8.93 · EPS (TTM) £0.3200 · Dividend yield 3.4% · Net margin 72.1% · Return on equity 8.1% · Return on assets (EBIT) 10.0% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (medium confidence).

What moves the price

The share trades about 1% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 5%, 3IN screens cheaper than that median.

Fair Value models

Bear £3.12 Fair Value £4.16 Bull £5.20
Price £3.96 · Upside +5.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (£0.1125 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income £3.39 £3.61 £4.05 76
Gordon GGM £1.20 £2.49 £3.95 66
DDM Multi-Stage £1.20 £1.88 £2.61 66
All 8 models by family
Earnings-Based
Graham-Dodd £2.17 £6.01 £7.89 65
Lynch FV £1.20 £1.71 £2.23 61
Dividend Discount
Gordon GGM £1.20 £2.49 £3.95 66
DDM Multi-Stage £1.20 £1.88 £2.61 66
Multiples
P/E Multiple £3.12 £4.16 £5.20 63
P/B Multiple £4.25 £5.67 £7.09 55
Asset-Based
NCAV (Graham) £2.03 £2.71 £4.05 54
Economic Profit
Residual Income £3.39 £3.61 £4.05 76

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Quality Score breakdown

Overall quality 52/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 39
How much profit the company makes from its sales and capital
Quality Growth 32
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 68
Debt, balance sheet and risk of trouble
Investment 81
Does it invest with discipline instead of growing at any price?
Low Volatility 100
How calm the share price moves, does not count
Price momentum 50
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 74
Distance to the 52-week high, does not count
New shares 50
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
Spin-off in 2026: revenue and profit before it include the divested business. Growth is measured afresh from 2026.
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.0%
Start year 2020 (pandemic). Over 10 years: +16.9% a year
Revenue growth 17 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.4%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+5.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.0%
Dividend (yield on the price)3.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.2.0% vs 4.1%, steady
Profit margin 2014 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.94% → 149%
Pace: the 5-year rate starts in 2021 (pandemic)

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Note from the team Oct 11, 2026
AI conclusion: Portfolio liquidity gained from data center additions and ahead-of-plan refinancings contrasts with persistent negative operating cash flows and limited moat signals.
Main risk: The tilt toward data centers introduces sharper demand swings that would directly undermine the consistency of investment returns across the portfolio.
3i Infrastructure has exited TCR and brought the Lefdal Mine Datacenter into the portfolio alongside third-party capital that it manages. Refinancings at assets such as Joulz generated cash flows ahead of plan and left the balance sheet with substantial liquidity. Does the shift toward data centers strengthen the mix of returns, or does it tilt the portfolio toward sectors with sharper demand swings?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 588 stocks

Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside +5.1% · Below median
Profitability
Return on equity (12 months) 8.1% · Above median
Return on assets 6.8% · Above median
Net margin (12 months) 72.1% · Top 25%
Operating margin (12 months) 63.8% · Above median
Growth and dividend
Revenue growth (quarter YoY) −62.1% · Bottom 25%
Dividend yield (12 months) 3.4% · Below median
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (12 months) 12.4× · Pricier than median
P/B 0.98× · Pricier than median
P/S (12 months) 8.93× · Priciest 25%
EV/EBITDA 12.0× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)40 · sector 60
FUTURE (revenue growth)0 · sector 39
PAST (return on equity)32 · sector 29
HEALTH (low debt)99 · sector 96
DIVIDEND (yield)68 · sector 80

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Exor N.V EXO €73.35 €139.37 +90% vs 3IN
Raymond James Financial, Inc RJF $162.81 $281.42 +73% vs 3IN
Apollo Global Management, Inc APO $116.75 $197.52 +69% vs 3IN
Ameriprise Financial, Inc AMP $501.49 $609.56 +22% vs 3IN
State Street Corporation STT $165.56 $139.37 −16% vs 3IN
Ares Management Corporation ARES $133.98 $99.35 −26% vs 3IN
Northern Trust Corporation NTRS $172.76 $123.42 −29% vs 3IN
Brookfield Asset Management Ltd BAM $52.95 $31.26 −41% vs 3IN
Blackstone Inc BX $119.50 $52.29 −56% vs 3IN
KKR & Co KKR $96.48 $27.32 −72% vs 3IN

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3I Infrastructure PLC: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "3I Infrastructure PLC Fair Value". https://www.fairvalue-calculator.com/stock/3IN

Frequently asked questions

Is 3I Infrastructure PLC (3IN) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of £4.16 versus a price of £3.96, about +5% upside (fairly valued).
What is the fair value of 3IN?
Our model-based fair value for 3I Infrastructure PLC is £4.16 (as of Nov 6, 2026), built from audited fundamentals. The current price: £3.96.
What is the quality score of 3IN?
3I Infrastructure PLC has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for 3I Infrastructure PLC (3IN)?
Our model-based price target is the fair value of £4.16 (as of Nov 6, 2026) from 8 valuation models. Cautious scenario £3.12, optimistic scenario £5.20. It is a calculation from audited fundamentals, not an analyst target.
What is the 3I Infrastructure PLC stock forecast for 2026?
Our models put fair value at £4.16, about +5% upside versus a price of £3.96 (fairly valued). Cautious scenario £3.12, optimistic scenario £5.20. The calculation is refreshed regularly with new filings.
What is the revenue of 3I Infrastructure PLC (3IN)?
3I Infrastructure PLC reported trailing-twelve-month revenue of about £409M (latest available figure, as of Nov 6, 2026).
Does 3I Infrastructure PLC pay a dividend?
3I Infrastructure PLC currently shows a dividend yield of 3.41% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of 3I Infrastructure PLC (3IN) and when is the ex-dividend date?
3I Infrastructure PLC pays a dividend of £0.135 per share a year, a dividend yield of 3.4%. The last ex-dividend date was Jun 11, 2026. A dividend has been paid every year since at least 2007. The payout ratio is 42.2% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of 3I Infrastructure PLC (3IN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For 3I Infrastructure PLC it is £4.16 per share (as of Nov 6, 2026), against a price of £3.96. It is the blended result of 8 valuation models in 5 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is 3I Infrastructure PLC stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 3IN trades below its calculated fair value: price £3.96, fair value £4.16, a gap of about +5% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3IN?
No. The price is what the market pays today (£3.96); the fair value is what the company's own numbers justify (£4.16). For 3I Infrastructure PLC the two are £0.2000 per share apart. That gap is exactly why we show both numbers side by side.
How much is 3I Infrastructure PLC worth?
The market values 3I Infrastructure PLC at about £3.7B (market capitalisation, as of Nov 6, 2026). Per share that is £3.96; our models calculate a fair value of £4.16 per share.
What do the bullish and bearish scenarios say about 3IN?
Our models span a range for 3I Infrastructure PLC: cautious scenario £3.12, base £4.16, optimistic £5.20 per share (as of Nov 6, 2026, price £3.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3IN?
3I Infrastructure PLC trades at a price-to-earnings ratio of 12.4 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £4.16 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2018 to 2026), reported earnings: 8.6. Other multiples: P/B 1.0, P/S 8.9, EV/EBITDA 12.0.
How solid is the balance sheet of 3I Infrastructure PLC (3IN)?
Balance-sheet figures for 3I Infrastructure PLC (as of Nov 6, 2026): return on equity 8.1%, debt of 0.03 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 3IN from its 52-week high?
3I Infrastructure PLC trades at £3.96, about 1% below its 52-week high of £4.00 and 24% above the low of £3.20 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of £4.16 is for.
Which stocks are comparable to 3I Infrastructure PLC?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is 3I Infrastructure PLC stock attractive at the current price?
The data as of Nov 6, 2026: price £3.96, calculated fair value £4.16 (+5%), Quality Score 52/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3IN calculated?
We run 3I Infrastructure PLC through 8 models from 5 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of £4.16 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. 3I Infrastructure PLC currently trades 5% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of 3I Infrastructure PLC (3IN)?
The closing price on Nov 6, 2026 was £3.96. Our model-based fair value is £4.16, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with 3I Infrastructure PLC right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of 3I Infrastructure PLC (3IN) come from?
Earnings per share at 3I Infrastructure PLC grew +11.1 % a year from 2013 to 2024. Broken into its drivers: revenue per share +20.1 %, EBIT margin −7.1 %, tax rate +4.1 %, residual (interest, one-offs) −4.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of 3I Infrastructure PLC

How large is the market capitalisation of 3I Infrastructure PLC (3IN)?
The market capitalisation of 3I Infrastructure PLC is £3.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of 3I Infrastructure PLC (3IN)?
The price-to-sales ratio of 3I Infrastructure PLC is 8.93 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of 3I Infrastructure PLC (3IN)?
Earnings per share at 3I Infrastructure PLC are £0.3200 (price ÷ EPS = P/E 12.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of 3I Infrastructure PLC (3IN)?
The dividend yield of 3I Infrastructure PLC is 3.4% (payout 42.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of 3I Infrastructure PLC (3IN)?
The net margin of 3I Infrastructure PLC is 72.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of 3I Infrastructure PLC (3IN)?
The return on equity (ROE) of 3I Infrastructure PLC is 8.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of 3I Infrastructure PLC (3IN)?
On an EBIT basis the return on assets of 3I Infrastructure PLC is 10.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of 3I Infrastructure PLC (3IN)?
The operating margin of 3I Infrastructure PLC is 63.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at 3I Infrastructure PLC (3IN)?
Revenue at 3I Infrastructure PLC is growing −62.1% versus a year earlier (3y avg −19.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at 3I Infrastructure PLC (3IN)?
Earnings per share at 3I Infrastructure PLC are growing −77.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does 3I Infrastructure PLC (3IN) generate?
The free cash flow of 3I Infrastructure PLC is −£32.0M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does 3I Infrastructure PLC (3IN) carry?
The net debt of 3I Infrastructure PLC is £531M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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