Siav S.p.A. (SIAV) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Siav S.p.A. stock €3.27, price €2.36, upside +38.6%, quality 58 out of 100. Rating: undervalued. Calculated from audited financials with 21 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 9, 2026.
How to read this chart
51‑month range €1.67 – €5.13 · fair‑value band €2.52 – €4.00 · the €2.36 price screens below the €3.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Siav S.p.A. offers software solutions and IT services for enterprise content management industry. It also provides cloud solutions and outsourcing services for electronic document management, IT protocol, workflow management, electronic invoicing, and digital preservation.
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In addition, the company offers Archiflow, a document and process management software that allows users to manage documents and automate workflows; Siav.AI, an AI platform that turns documents into active business assets and Siav Connect, a modular platform for intelligent content, data, and process management.
It serves public and private markets worldwide. The company was founded in 1989 and is based in Rubano, Italy. Siav S.p.A. operates as a subsidiary of Taco Holding S.R.L.
Stock analysis
Siav S.p.A. (SIAV) currently trades at €2.36, while our model-based Fair Value estimate is €3.27, implying the stock looks roughly 28% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €3.65 per share, and 14 of the 21 models we run sit above the €2.36 price.
Bear case: the Economic Profit group reads lowest at €1.40, and 7 of the 21 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €2.52 (bear) to €4.00 (bull), the price of €2.36 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 58/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Siav S.p.A. reported revenue of €36.0M in FY2025 versus €32.8M in FY2021, a compound +2.4%/yr. Reported net income was €1.4M in FY2025, compounding −4.1%/yr from FY2021.
Key figures
Market cap €25.3M Micro · P/E ratio 15.4 · P/S ratio 0.67 · EPS (TTM) €0.1532 · Net margin 3.3% · Return on equity 11.5% · Return on assets (EBIT) 3.3% (5-year average) · Operating margin 5.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 34% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 39%, SIAV screens cheaper than that median.
Fair Value models
Bear€2.52Fair Value €3.27Bull€4.00
Price €2.36 · Upside +38.6%
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 (€0.1372 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.68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.7%
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.
+2.4%
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.
+4.5%
Start year 2020 (pandemic)
’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.
+1.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.3%
Dividend (yield on the price)0.0%
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.3% → 10%
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).
+2.0%
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 −0.2% 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.Software - Application · 628 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+38.6% · Top 25%
Profitability
Return on equity (12 months)11.5% · Above median
Return on assets2.7% · Above median
Net margin (12 months)3.3% · Below median
Operating margin (12 months)5.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.0% · Below median
Balance sheet
Debt / equity0.46× · Highest 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
P/E (12 months)15.4× · Cheaper than median
P/B2.51× · 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). "Siav S.p.A. Fair Value". https://www.fairvalue-calculator.com/stock/SIAV
Frequently asked questions
Is Siav S.p.A. (SIAV) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of €3.27 versus a price of €2.36, about +39% upside (undervalued).
What is the fair value of SIAV?
Our model-based fair value for Siav S.p.A. is €3.27 (as of Nov 9, 2026), built from audited fundamentals. The current price: €2.36.
What is the quality score of SIAV?
Siav S.p.A. has a Quality Score of 58/100. 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 Siav S.p.A. (SIAV)?
Our model-based price target is the fair value of €3.27 (as of Nov 9, 2026) from 21 valuation models. Cautious scenario €2.52, optimistic scenario €4.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Siav S.p.A. stock forecast for 2026?
Our models put fair value at €3.27, about +39% upside versus a price of €2.36 (undervalued). Cautious scenario €2.52, optimistic scenario €4.00. The calculation is refreshed regularly with new filings.
What is the revenue of Siav S.p.A. (SIAV)?
Siav S.p.A. reported trailing-twelve-month revenue of about €37.7M (latest available figure, as of Nov 9, 2026).
What growth is priced into Siav S.p.A. (SIAV)?
For today's price to be fair in a discounted-cash-flow model, Siav S.p.A. would have to grow free cash flow by +2.0 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.5 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of SIAV use?
Our models discount Siav S.p.A. at 12.7 %: a base by market capitalisation (nano), damped by beta 1.23, 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 Siav S.p.A. that is +2.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Siav S.p.A. (SIAV) delivered so far?
Over the past 5 years revenue at Siav S.p.A. grew +4.5 % a year. The price currently implies free-cash-flow growth of +2.0 % 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 Siav S.p.A. (SIAV) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Siav S.p.A. (+2.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Siav S.p.A. (SIAV)?
The free-cash-flow yield on the price is 14.78 %: that much free cash flow Siav S.p.A. produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Siav S.p.A. (SIAV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Siav S.p.A. it is €3.27 per share (as of Nov 9, 2026), against a price of €2.36. It is the blended result of 21 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Siav S.p.A. stock overvalued or undervalued in 2026?
As of Nov 9, 2026, SIAV trades below its calculated fair value: price €2.36, fair value €3.27, a gap of about +39% (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 SIAV?
No. The price is what the market pays today (€2.36); the fair value is what the company's own numbers justify (€3.27). For Siav S.p.A. the two are €0.9100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Siav S.p.A. worth?
The market values Siav S.p.A. at about €25.3M (market capitalisation, as of Nov 9, 2026). Per share that is €2.36; our models calculate a fair value of €3.27 per share.
What do the bullish and bearish scenarios say about SIAV?
Our models span a range for Siav S.p.A.: cautious scenario €2.52, base €3.27, optimistic €4.00 per share (as of Nov 9, 2026, price €2.36). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SIAV?
Siav S.p.A. trades at a price-to-earnings ratio of 15.4 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €3.27 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 12.8 (reported 15.4). Other multiples: P/B 2.5, P/S 0.7, EV/EBITDA 4.0.
How solid is the balance sheet of Siav S.p.A. (SIAV)?
Balance-sheet figures for Siav S.p.A. (as of Nov 9, 2026): return on equity 11.5%, debt of 0.46 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is SIAV from its 52-week high?
Siav S.p.A. trades at €2.36, about 38% below its 52-week high of €3.80 and 34% above the low of €1.76 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €3.27 is for.
Which stocks are comparable to Siav S.p.A.?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, 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 Siav S.p.A. stock attractive at the current price?
The data as of Nov 9, 2026: price €2.36, calculated fair value €3.27 (+39%), Quality Score 58/100, from 21 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 SIAV calculated?
We run Siav S.p.A. through 21 models from 6 families: DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €3.27 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. Siav S.p.A. currently trades 28% 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 Siav S.p.A. (SIAV)?
The closing price on Nov 6, 2026 was €2.36. Our model-based fair value is €3.27, about +39% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Siav S.p.A. right now?
The price is below even our cautious bear case (€2.52). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Siav S.p.A.
How large is the market capitalisation of Siav S.p.A. (SIAV)?
The market capitalisation of Siav S.p.A. is €25.3M. 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 Siav S.p.A. (SIAV)?
The price-to-sales ratio of Siav S.p.A. is 0.67 (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 Siav S.p.A. (SIAV)?
Earnings per share at Siav S.p.A. are €0.1532 (price ÷ EPS = P/E 15.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Siav S.p.A. (SIAV)?
The net margin of Siav S.p.A. is 3.3% (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 Siav S.p.A. (SIAV)?
The return on equity (ROE) of Siav S.p.A. is 11.5% (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 Siav S.p.A. (SIAV)?
On an EBIT basis the return on assets of Siav S.p.A. is 3.3% (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 Siav S.p.A. (SIAV)?
The operating margin of Siav S.p.A. is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Siav S.p.A. (SIAV)?
Revenue at Siav S.p.A. is growing +7.0% versus a year earlier (3y avg +2.4%). 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 Siav S.p.A. (SIAV)?
Earnings per share at Siav S.p.A. are growing −40.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Siav S.p.A. (SIAV) carry?
The net debt of Siav S.p.A. is €9.4M (fiscal year 2025, ≈ 3.0 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 9, 2026