Dexelance S.p.A. (DEX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Dexelance S.p.A. stock €1.78, price €2.17, that is 18.0% below the price, quality 21 out of 100. Rating: overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
42‑month range €1.84 – €11.68 · fair‑value band €0.8200 – €3.00 · the €2.17 price screens above the €1.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Dexelance S.p.A. develops and promotes a hub of Italian design furniture and lightings.
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The company offers furniture products under Gervasoni, Meridiani, Saba Italia, Gamma Arredamenti International, and Turri brands; lighting products under the Davide Groppi, Flexalighting, and Axo Light brands; kitchen and systems under Cubo Design brand.
It also offers luxury contract products under the Cenacchi International and Modar brands; and Omnichannel go-to-market under Mohd brand which distributes products and manages furnishing projects.
The company was formerly known as Italian Design Brands S.p.A. and changed its name to Dexelance S.p.A. in May 2024. Dexelance S.p.A. was founded in 2015 and is headquartered in Milan, Italy.
Stock analysis
Dexelance S.p.A. (DEX) currently trades at €2.17, while our model-based Fair Value estimate is €1.78, 18% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €1.35 per share, and 0 of the 7 models we run sit above the €2.17 price.
Bear case: the DCF Models group reads lowest at €0.9100, and 7 of the 7 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €0.8200 (bear) to €3.00 (bull), the price of €2.17 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 21/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Dexelance S.p.A. reported revenue of €320M in FY2025 versus €144M in FY2021, a compound +22.1%/yr. Reported net income was −€17.7M in FY2025.
Key figures
Market cap €128M Micro · P/S ratio 0.35 · EPS (TTM) €−0.4700 · Net margin −4.4% · Return on equity −7.4% · Return on assets (EBIT) 4.9% (5-year average) · Operating margin 1.8% · Revenue (TTM) €348M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (low confidence).
What moves the price
The share trades about 64% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at −18%, DEX screens cheaper than that median.
Fair Value models
Bear€0.8200Fair Value €1.78Bull€3.00
Price €2.17 · Downside -18.0%
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.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.
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.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.3%
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.
+17.1%
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.
+23.8%
Start year 2020 (pandemic)
Revenue growth 6 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.
+15.7%
’19
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’21
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’25
Profit margin (trend) ⓘ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.
6.3% (2020) → −6.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+24.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +21.4% a year for the price.
Price, fair value, quality and upside side by side.
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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.Furnishings, Fixtures & Appliances · 297 stocks
P/B0.86× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Dexelance S.p.A. Fair Value". https://www.fairvalue-calculator.com/stock/DEX
Frequently asked questions
Is Dexelance S.p.A. (DEX) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of €1.78 versus a price of €2.17, about 18% lower (overvalued).
What is the fair value of DEX?
Our model-based fair value for Dexelance S.p.A. is €1.78 (as of Nov 8, 2026), built from audited fundamentals. The current price: €2.17.
What is the quality score of DEX?
Dexelance S.p.A. has a Quality Score of 21/100. 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 Dexelance S.p.A. (DEX)?
Our model-based price target is the fair value of €1.78 (as of Nov 8, 2026) from 7 valuation models. Cautious scenario €0.8200, optimistic scenario €3.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Dexelance S.p.A. stock forecast for 2026?
Our models put fair value at €1.78, about 18% lower versus a price of €2.17 (overvalued). Cautious scenario €0.8200, optimistic scenario €3.00. The calculation is refreshed regularly with new filings.
What is the revenue of Dexelance S.p.A. (DEX)?
Dexelance S.p.A. reported trailing-twelve-month revenue of about €348M (latest available figure, as of Nov 8, 2026).
What growth is priced into Dexelance S.p.A. (DEX)?
For today's price to be fair in a discounted-cash-flow model, Dexelance S.p.A. would have to grow free cash flow by +24.0 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.8 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of DEX use?
Our models discount Dexelance S.p.A. at 13.5 %: a base by market capitalisation (micro), damped by beta 0.06, country premium for Italy. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dexelance S.p.A. that is +24.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has Dexelance S.p.A. (DEX) delivered so far?
Over the past 5 years revenue at Dexelance S.p.A. grew +23.8 % a year. The price currently implies free-cash-flow growth of +24.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Dexelance S.p.A. (DEX) growing?
The median revenue growth in the sector is +8.6 % a year. That is the yardstick for the growth priced into Dexelance S.p.A. (+24.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dexelance S.p.A. (DEX)?
The free-cash-flow yield on the price is 7.13 %: that much free cash flow Dexelance S.p.A. produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dexelance S.p.A. (DEX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dexelance S.p.A. it is €1.78 per share (as of Nov 8, 2026), against a price of €2.17. It is the blended result of 7 valuation models in 2 families (DCF Models, Growth DCF).
Is Dexelance S.p.A. stock overvalued or undervalued in 2026?
As of Nov 8, 2026, DEX trades above its calculated fair value: price €2.17, fair value €1.78, a gap of about −18% (overvalued). 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 DEX?
No. The price is what the market pays today (€2.17); the fair value is what the company's own numbers justify (€1.78). For Dexelance S.p.A. the two are €0.3900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dexelance S.p.A. worth?
The market values Dexelance S.p.A. at about €128M (market capitalisation, as of Nov 8, 2026). Per share that is €2.17; our models calculate a fair value of €1.78 per share.
What do the bullish and bearish scenarios say about DEX?
Our models span a range for Dexelance S.p.A.: cautious scenario €0.8200, base €1.78, optimistic €3.00 per share (as of Nov 8, 2026, price €2.17). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Dexelance S.p.A. (DEX)?
Balance-sheet figures for Dexelance S.p.A. (as of Nov 8, 2026): return on equity −7.4%, debt of 0.60 per unit of equity. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is DEX from its 52-week high?
Dexelance S.p.A. trades at €2.17, about 64% below its 52-week high of €6.06 and 18% above the low of €1.84 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €1.78 is for.
Which stocks are comparable to Dexelance S.p.A.?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, SharkNinja, Inc, Haier Smart Home Co, 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 Dexelance S.p.A. stock attractive at the current price?
The data as of Nov 8, 2026: price €2.17, calculated fair value €1.78 (−18%), Quality Score 21/100, from 7 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 DEX calculated?
We run Dexelance S.p.A. through 7 models from 2 families: DCF Models, Growth DCF. Every model gets the same audited fundamentals; the fair value of €1.78 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 13.3% above its aggregate fair value. Dexelance S.p.A. itself currently trades above fair value. 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 Dexelance S.p.A. (DEX)?
The closing price on Nov 6, 2026 was €2.17. Our model-based fair value is €1.78, about 18% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dexelance S.p.A. right now?
Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€0.8200 to €3.00). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of Dexelance S.p.A.
How large is the market capitalisation of Dexelance S.p.A. (DEX)?
The market capitalisation of Dexelance S.p.A. is €128M. 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 Dexelance S.p.A. (DEX)?
The price-to-sales ratio of Dexelance S.p.A. is 0.35 (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 Dexelance S.p.A. (DEX)?
Earnings per share at Dexelance S.p.A. are €−0.4700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dexelance S.p.A. (DEX)?
The net margin of Dexelance S.p.A. is −4.4% (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 Dexelance S.p.A. (DEX)?
The return on equity (ROE) of Dexelance S.p.A. is −7.4% (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 Dexelance S.p.A. (DEX)?
On an EBIT basis the return on assets of Dexelance S.p.A. is 4.9% (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 Dexelance S.p.A. (DEX)?
The operating margin of Dexelance S.p.A. is 1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dexelance S.p.A. (DEX)?
Revenue at Dexelance S.p.A. is growing +18.7% versus a year earlier (3y avg +17.1%). 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 Dexelance S.p.A. (DEX)?
Earnings per share at Dexelance S.p.A. are growing +581% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dexelance S.p.A. (DEX) carry?
The net debt of Dexelance S.p.A. is €79.2M (fiscal year 2025, ≈ 19.0 yrs of FCF). 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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Nov 8, 2026