Piaggio & C (PIA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Piaggio & C stock €0.88, price €2.18, that is 59.7% below the price, quality 48 out of 100. Rating: strongly overvalued. Calculated from audited financials with 12 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
60‑month range €1.43 – €3.35 · fair‑value band €0.8400 – €0.9400 · the €2.18 price screens above the €0.8800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
Follow Piaggio & C in your weekly email
Every Wednesday you see whether Piaggio & C is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Piaggio & C. SpA, together with its subsidiaries, engages in the development, manufacture, and distribution of two-wheeler and commercial vehicles.
Show moreShow less
The company provides two-wheelers, including motor scooters, motorbikes, and mopeds under the Vespa, Piaggio, Aprilia, Moto Guzzi, Gilera, Derbi, and Scarabeo brands. It also offers light commercial vehicles under the Ape and Porter NP6 brands; and operates Piaggio Fast Forward project.
In addition, the company sells engines to third parties; participates in two-wheeler sports competitions; and provides after-sales services, as well as financial services, and spare parts and accessories.
It distributes its vehicles primarily through dealers and exports in Europe, the Middle East, Africa, the Americas, rest of the Asia Pacific, and India. The company was founded in 1884 and is headquartered in Pontedera, Italy. Piaggio & C. SpA is a subsidiary of IMMSI S.p.A.
Stock analysis
Piaggio & C (PIA) currently trades at €2.18, while our model-based Fair Value estimate is €0.8800, 60% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of €2.15 per share, and 2 of the 12 models we run sit above the €2.18 price.
Bear case: the Dividend Discount group reads lowest at €0.5550, and 10 of the 12 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €0.8400 (bear) to €0.9400 (bull), the price of €2.18 sits above 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 48/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Piaggio & C reported revenue of €1.5B in FY2025 versus €1.7B in FY2021, a compound −2.6%/yr. Reported net income was €34.0M in FY2025, compounding −13.3%/yr from FY2021.
Key figures
Market cap €773M Small · P/E ratio 19.8 · P/S ratio 0.52 · EPS (TTM) €0.1100 · Dividend yield 4.4% · Net margin 2.3% · Return on equity 8.2% · Return on assets (EBIT) 7.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 52% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at −60%, PIA screens richer than that median.
Fair Value models
Bear€0.8400Fair Value €0.8800Bull€0.9400
Price €2.18 · Downside -59.7%
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 (€0.0111 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.25/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−11.7%
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.
−10.4%
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.
+2.7%
Start year 2020 (pandemic). Over 10 years: +1.5% a year
Revenue growth 22 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.
+2.0%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
−1.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.9%
Dividend (yield on the price)4.4%
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.base effect: −5.9% / 9.4%
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.5% → 7%
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Auto Manufacturers · 106 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Above median
Fair Value upside−59.7% · Bottom 25%
Profitability
Return on equity (12 months)8.2% · Above median
Return on assets2.0% · Above median
Net margin (12 months)2.3% · Below median
Operating margin (12 months)11.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)3.8% · Below median
Dividend yield (12 months)4.4% · Above median
Balance sheet
Debt / equity1.30× · Highest 25%
Valuation Multiplesvs Auto Manufacturers median · lower = cheaper
P/E (12 months)19.8× · Pricier than median
P/B1.95× · 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)0.52× · Cheaper than median
EV/EBITDA5.6× · Cheaper than median
PEG0.69× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 45
FUTURE (revenue growth)19· sector 37
PAST (return on equity)33· sector 25
HEALTH (low debt)35· sector 93
DIVIDEND (yield)89· sector 53
VALUE 0: the price sits above our fair-value range.
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). "Piaggio & C Fair Value". https://www.fairvalue-calculator.com/stock/PIA
Frequently asked questions
Is Piaggio & C (PIA) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of €0.8800 versus a price of €2.18, about 60% lower (overvalued).
What is the fair value of PIA?
Our model-based fair value for Piaggio & C is €0.8800 (as of Nov 8, 2026), built from audited fundamentals. The current price: €2.18.
What is the quality score of PIA?
Piaggio & C has a Quality Score of 48/100. 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 Piaggio & C (PIA)?
Our model-based price target is the fair value of €0.8800 (as of Nov 8, 2026) from 12 valuation models. Cautious scenario €0.8400, optimistic scenario €0.9400. It is a calculation from audited fundamentals, not an analyst target.
What is the Piaggio & C stock forecast for 2026?
Our models put fair value at €0.8800, about 60% lower versus a price of €2.18 (overvalued). Cautious scenario €0.8400, optimistic scenario €0.9400. The calculation is refreshed regularly with new filings.
What is the revenue of Piaggio & C (PIA)?
Piaggio & C reported trailing-twelve-month revenue of about €1.5B (latest available figure, as of Nov 8, 2026).
Does Piaggio & C pay a dividend?
Piaggio & C currently shows a dividend yield of 4.45% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Piaggio & C (PIA) and when is the ex-dividend date?
Piaggio & C pays a dividend of €0.097 per share a year, a dividend yield of 4.4%. The last ex-dividend date was Sep 21, 2026. A dividend has been paid every year since 2015. The payout ratio is 88.2% 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 Piaggio & C (PIA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Piaggio & C it is €0.8800 per share (as of Nov 8, 2026), against a price of €2.18. It is the blended result of 12 valuation models in 5 families (Earnings-Based, Dividend Discount, Multiples, Economic Profit, Growth Earnings).
Is Piaggio & C stock overvalued or undervalued in 2026?
As of Nov 8, 2026, PIA trades above its calculated fair value: price €2.18, fair value €0.8800, a gap of about −60% (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 PIA?
No. The price is what the market pays today (€2.18); the fair value is what the company's own numbers justify (€0.8800). For Piaggio & C the two are €1.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is Piaggio & C worth?
The market values Piaggio & C at about €773M (market capitalisation, as of Nov 8, 2026). Per share that is €2.18; our models calculate a fair value of €0.8800 per share.
What do the bullish and bearish scenarios say about PIA?
Our models span a range for Piaggio & C: cautious scenario €0.8400, base €0.8800, optimistic €0.9400 per share (as of Nov 8, 2026, price €2.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PIA?
Piaggio & C trades at a price-to-earnings ratio of 19.8 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €0.8800 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 18.5. Other multiples: PEG 0.7, P/B 2.0, P/S 0.5, EV/EBITDA 5.6.
What is the PEG ratio of PIA?
The PEG ratio of Piaggio & C is 0.69 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Piaggio & C (PIA)?
Balance-sheet figures for Piaggio & C (as of Nov 8, 2026): return on equity 8.2%, debt of 1.30 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is PIA from its 52-week high?
Piaggio & C trades at €2.18, at its 52-week high of €2.18 and 52% above the low of €1.43 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €0.8800 is for.
Which stocks are comparable to Piaggio & C?
From the same area (Consumer Cyclical) we also value Tesla, Inc, Toyota Motor Corporation, BYD Company, Ferrari N.V, 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 Piaggio & C stock attractive at the current price?
The data as of Nov 8, 2026: price €2.18, calculated fair value €0.8800 (−60%), Quality Score 48/100, from 12 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 PIA calculated?
We run Piaggio & C through 12 models from 5 families: Earnings-Based, Dividend Discount, Multiples, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €0.8800 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. Piaggio & C 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 Piaggio & C (PIA)?
The closing price on Nov 6, 2026 was €2.18. Our model-based fair value is €0.8800, about 60% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Piaggio & C right now?
The price sits above even our optimistic bull case (€0.9400). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. The models converge in a tight band (€0.8400 to €0.9400), unusually little disagreement for a valuation.
Where does the earnings growth of Piaggio & C (PIA) come from?
Earnings per share at Piaggio & C grew +18.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.7 %, EBIT margin +6.0 %, tax rate +1.7 %, residual (interest, one-offs) +6.2 %. 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 Piaggio & C
How large is the market capitalisation of Piaggio & C (PIA)?
The market capitalisation of Piaggio & C is €773M. 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 Piaggio & C (PIA)?
The price-to-sales ratio of Piaggio & C is 0.52 (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 Piaggio & C (PIA)?
Earnings per share at Piaggio & C are €0.1100 (price ÷ EPS = P/E 19.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Piaggio & C (PIA)?
The dividend yield of Piaggio & C is 4.4% (payout 88.2%). 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 Piaggio & C (PIA)?
The net margin of Piaggio & C is 2.3% (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 Piaggio & C (PIA)?
The return on equity (ROE) of Piaggio & C is 8.2% (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 Piaggio & C (PIA)?
On an EBIT basis the return on assets of Piaggio & C is 7.5% (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 Piaggio & C (PIA)?
The operating margin of Piaggio & C is 11.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Piaggio & C (PIA)?
Revenue at Piaggio & C is growing +3.8% versus a year earlier (3y avg −10.4%). 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 Piaggio & C (PIA)?
Earnings per share at Piaggio & C are growing +18.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Piaggio & C (PIA) generate?
The free cash flow of Piaggio & C is −€8.1M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Piaggio & C (PIA) carry?
The net debt of Piaggio & C is €559M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Piaggio & C in the live analysis
One click puts Piaggio & C on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 8, 2026