Arnoldo Mondadori Editore S.p.A (MN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Arnoldo Mondadori Editore S.p.A stock €3.24, price €1.98, upside +63.5%, quality 60 out of 100. Rating: strongly undervalued. Calculated from audited financials with 22 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 5, 2026.
How to read this chart
60‑month range €1.21 – €2.32 · fair‑value band €2.32 – €4.47 · the €1.98 price screens below the €3.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Arnoldo Mondadori Editore S.p.A., together with its subsidiaries, engages in publishing of books and magazines in Italy, rest of Europe, and the United States.
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The company offers fiction, non-fiction, poetry, classics, children, and young adult books; art catalogues; and paper books, comics, e-books, luxury, and paperback editions textbooks for the education and teaching sectors.
It offers editorial brands for cooking, health, design, technology, science, school, and young people under the CASABELLA, Chi, Cook AROUND, FATTO IN CASA da Benedetta, Focus, Focus Junior, Focus Pico, Focus Scuola, Focus Storia, Focus Wild, Giallo Zafferano, GUIDA TV, INTERNI, mypersonal Trainer, NostroFiglio, NUOVI ARGOMENTI, PLANETA Mamma, smartworld, Soldi online, Studenti, telepiu, WTHEM, sorrisi e canzoni TV, WEBBOH, abbonamenti, ADGAGE MOBILE NEXT, AdKaora, alterbista, HEJ, MONDADORI PORTFOLIO, narae, PLAI, POWER TALENT AGENCY, TAAG, and ZENZERO TALENT AGENCY names.
It sells its books under the ABSCONDITA, II BATTELO A VAPORE, CIDEB, BUR Rizolli, CHELSEA GREEN PUBLISHING, DEASCUOLA, DeAgostini LIBRI, frassinelli, libromania, MONDARORI, MONDADORI EDUCATION, MONDADORI ELECTA, STUDIOS, OSCAR, Rizzoli, Rizzoli EDUCATION, Rizzoli Lizard, RIZZOLI NEW YORK, SILVIO BERLUSCON EDITORE, Sperling & Kupfer, START COMICS, and UTET brands.
The company markets its products through a network of owned and franchised stores; and e-commerce channels, such as mondadoristore.it. The company was founded in 1907 and is headquartered in Segrate, Italy.
Arnoldo Mondadori Editore S.p.A. is a subsidiary of Finanziaria d'investimento Fininvest S.p.A.
Stock analysis
Arnoldo Mondadori Editore S.p.A (MN) currently trades at €1.98, while our model-based Fair Value estimate is €3.24, implying the stock looks roughly 39% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €4.33 per share, and 15 of the 22 models we run sit above the €1.98 price.
Bear case: the Dividend Discount group reads lowest at €1.13, and 7 of the 22 models stay below the price. Data coverage for this calculation is high.
Scenario range: €2.32 (bear) to €4.47 (bull), the price of €1.98 sits below 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 60/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Arnoldo Mondadori Editore S.p.A reported revenue of €932M in FY2025 versus €807M in FY2021, a compound +3.6%/yr. Reported net income was €54.0M in FY2025, compounding +5.1%/yr from FY2021.
Key figures
Market cap €518M Small · P/E ratio 9.9 · P/S ratio 0.54 · EPS (TTM) €0.2000 · Dividend yield 7.8% · Net margin 5.4% · Return on equity 18.4% · Return on assets (EBIT) 6.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
The share trades about 8% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −7% fair-value upside, at 63%, MN screens cheaper than that median.
Fair Value models
Bear€2.32Fair Value €3.24Bull€4.47
Price €1.98 · Upside +63.5%
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 2025 figures (about 10 months old). Earnings retained since then (€0.0393 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.
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.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.3%
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.
+1.0%
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.
+4.6%
Start year 2020 (pandemic). Over 10 years: −1.9% a year
Revenue growth 12 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.
−2.6%
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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.
+21.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.7%
Dividend (yield on the price)7.8%
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.13.7% vs 9.2%, picking up
Profit margin 2020 to 2025 ⓘ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.−1% → 8%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 4.1%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−1.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −3.9% a year for the price and −0.3% for the forecasts.
Compare Arnoldo Mondadori Editore S.p.A with another stock
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.Publishing · 98 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Below median
Fair Value upside+63.5% · Above median
Profitability
Return on equity (12 months)18.4% · Top 25%
Return on assets5.0% · Above median
Net margin (12 months)5.4% · Below median
Operating margin (12 months)9.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)8.9% · Top 25%
Dividend yield (12 months)7.8% · Top 25%
Balance sheet
Debt / equity0.25× · Highest 25%
Valuation Multiplesvs Publishing median · lower = cheaper
P/E (12 months)9.9× · Cheaper than median
P/B1.56× · 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.
P/S (12 months)0.54× · Cheaper than median
Price / free cash flow (fiscal year)7.3× · Cheaper than median
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Is Arnoldo Mondadori Editore S.p.A (MN) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of €3.24 versus a price of €1.98, about +63% upside (undervalued).
What is the fair value of MN?
Our model-based fair value for Arnoldo Mondadori Editore S.p.A is €3.24 (as of Nov 5, 2026), built from audited fundamentals. The current price: €1.98.
What is the quality score of MN?
Arnoldo Mondadori Editore S.p.A has a Quality Score of 60/100. 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 Arnoldo Mondadori Editore S.p.A (MN)?
Our model-based price target is the fair value of €3.24 (as of Nov 5, 2026) from 22 valuation models. Cautious scenario €2.32, optimistic scenario €4.47. It is a calculation from audited fundamentals, not an analyst target.
What is the Arnoldo Mondadori Editore S.p.A stock forecast for 2026?
Our models put fair value at €3.24, about +63% upside versus a price of €1.98 (undervalued). Cautious scenario €2.32, optimistic scenario €4.47. The calculation is refreshed regularly with new filings.
What is the revenue of Arnoldo Mondadori Editore S.p.A (MN)?
Arnoldo Mondadori Editore S.p.A reported trailing-twelve-month revenue of about €958M (latest available figure, as of Nov 5, 2026).
Does Arnoldo Mondadori Editore S.p.A pay a dividend?
Arnoldo Mondadori Editore S.p.A currently shows a dividend yield of 7.77% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Arnoldo Mondadori Editore S.p.A (MN) and when is the ex-dividend date?
Arnoldo Mondadori Editore S.p.A pays a dividend of €0.154 per share a year, a dividend yield of 7.8%. The next ex-dividend date is Nov 23, 2026. A dividend has been paid every year since 2022. The payout ratio is 77.0% of earnings. Free cash flow covers the dividend 1.78 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Arnoldo Mondadori Editore S.p.A (MN)?
For today's price to be fair in a discounted-cash-flow model, Arnoldo Mondadori Editore S.p.A would have to grow free cash flow by -1.8 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.6 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of MN use?
Our models discount Arnoldo Mondadori Editore S.p.A at 12.1 %: a base by market capitalisation (small), damped by beta 0.59, 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 Arnoldo Mondadori Editore S.p.A that is -1.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Arnoldo Mondadori Editore S.p.A (MN) delivered so far?
Over the past 5 years revenue at Arnoldo Mondadori Editore S.p.A grew +4.6 % a year. The price currently implies free-cash-flow growth of -1.8 % 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 Arnoldo Mondadori Editore S.p.A (MN) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Arnoldo Mondadori Editore S.p.A (-1.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Arnoldo Mondadori Editore S.p.A (MN)?
The free-cash-flow yield on the price is 13.78 %: that much free cash flow Arnoldo Mondadori Editore S.p.A produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Arnoldo Mondadori Editore S.p.A (MN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arnoldo Mondadori Editore S.p.A it is €3.24 per share (as of Nov 5, 2026), against a price of €1.98. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Arnoldo Mondadori Editore S.p.A stock overvalued or undervalued in 2026?
As of Nov 5, 2026, MN trades below its calculated fair value: price €1.98, fair value €3.24, a gap of about +63% (undervalued). 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 MN?
No. The price is what the market pays today (€1.98); the fair value is what the company's own numbers justify (€3.24). For Arnoldo Mondadori Editore S.p.A the two are €1.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arnoldo Mondadori Editore S.p.A worth?
The market values Arnoldo Mondadori Editore S.p.A at about €518M (market capitalisation, as of Nov 5, 2026). Per share that is €1.98; our models calculate a fair value of €3.24 per share.
What do the bullish and bearish scenarios say about MN?
Our models span a range for Arnoldo Mondadori Editore S.p.A: cautious scenario €2.32, base €3.24, optimistic €4.47 per share (as of Nov 5, 2026, price €1.98). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MN?
Arnoldo Mondadori Editore S.p.A trades at a price-to-earnings ratio of 9.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €3.24 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 12.0. Other multiples: PEG 5.0, P/B 1.6, P/S 0.5, EV/EBITDA 5.5.
What is the PEG ratio of MN?
The PEG ratio of Arnoldo Mondadori Editore S.p.A is 5.05 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Arnoldo Mondadori Editore S.p.A (MN)?
Balance-sheet figures for Arnoldo Mondadori Editore S.p.A (as of Nov 5, 2026): return on equity 18.4%, debt of 0.25 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is MN from its 52-week high?
Arnoldo Mondadori Editore S.p.A trades at €1.98, about 8% below its 52-week high of €2.16 and 6% above the low of €1.87 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €3.24 is for.
Which stocks are comparable to Arnoldo Mondadori Editore S.p.A?
From the same area (Communication Services) we also value The New York Times Company, Xinhua Winshare Publishing and Media Co, Jiangsu Phoenix Publishing & Media Corporation, China Science Publishing & Media Ltd, 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 Arnoldo Mondadori Editore S.p.A stock attractive at the current price?
The data as of Nov 5, 2026: price €1.98, calculated fair value €3.24 (+63%), Quality Score 60/100, from 22 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 MN calculated?
We run Arnoldo Mondadori Editore S.p.A through 22 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €3.24 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. Arnoldo Mondadori Editore S.p.A currently trades 39% 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 Arnoldo Mondadori Editore S.p.A (MN)?
The closing price on Nov 6, 2026 was €1.98. Our model-based fair value is €3.24, about +63% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arnoldo Mondadori Editore S.p.A right now?
The price is below even our cautious bear case (€2.32). The market is more pessimistic than our downside scenario. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€2.32 to €4.47) leaves room in how you read the outcome.
Key figures of Arnoldo Mondadori Editore S.p.A
How large is the market capitalisation of Arnoldo Mondadori Editore S.p.A (MN)?
The market capitalisation of Arnoldo Mondadori Editore S.p.A is €518M. 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 Arnoldo Mondadori Editore S.p.A (MN)?
The price-to-sales ratio of Arnoldo Mondadori Editore S.p.A is 0.54 (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 Arnoldo Mondadori Editore S.p.A (MN)?
Earnings per share at Arnoldo Mondadori Editore S.p.A are €0.2000 (price ÷ EPS = P/E 9.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Arnoldo Mondadori Editore S.p.A (MN)?
The dividend yield of Arnoldo Mondadori Editore S.p.A is 7.8% (payout 77.0%). 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 Arnoldo Mondadori Editore S.p.A (MN)?
The net margin of Arnoldo Mondadori Editore S.p.A is 5.4% (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 Arnoldo Mondadori Editore S.p.A (MN)?
The return on equity (ROE) of Arnoldo Mondadori Editore S.p.A is 18.4% (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 Arnoldo Mondadori Editore S.p.A (MN)?
On an EBIT basis the return on assets of Arnoldo Mondadori Editore S.p.A is 6.3% (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 Arnoldo Mondadori Editore S.p.A (MN)?
The operating margin of Arnoldo Mondadori Editore S.p.A is 9.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arnoldo Mondadori Editore S.p.A (MN)?
Revenue at Arnoldo Mondadori Editore S.p.A is growing +8.9% versus a year earlier (3y avg +1.0%). 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 Arnoldo Mondadori Editore S.p.A (MN)?
Earnings per share at Arnoldo Mondadori Editore S.p.A are growing +7.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Arnoldo Mondadori Editore S.p.A (MN) carry?
The net debt of Arnoldo Mondadori Editore S.p.A is €75.0M (fiscal year 2025, ≈ 1.1 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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Broad data
Nov 5, 2026