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Tesmec (TES) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Tesmec stock €0.14, price €0.40, that is 65.1% below the price, quality 52 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials IT · ISIN IT0004585243

T Tesmec logo Thin data Nov 4, 2026

Tesmec

TES · MI
Solid, but very expensive

Our calculation puts a fair price 65% below what the stock costs today.

Generates free cash flow
Last quarter vs. a year ago: revenue +17%, profit +189%.
Quality 52/100
Mixed Growth (revenue 5y +8.2 %/yr in EUR)
Thin margins · 2.3% net margin (TTM)
Moderate debt
Fair value €0.1400 · Strongly overvalued
Trails peers (4/12)
Narrow moat 29/100 · thin data
Thin data
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Price vs Fair Value

€0.5740 €0.0530 Fair Value €0.1400 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

60‑month range €0.0530 – €0.5740 · fair‑value band €0.1100 – €0.1800 · the €0.4010 price screens above the €0.1400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.

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Company profile

Tesmec S.p.A. designs, manufactures, and sells products, technologies, and integrated solutions for the construction, maintenance, and efficiency of infrastructures related to the transport and distribution of energy, data, and material. It operates through Energy, Trencher, and Railway segments.

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The company provides stringing solutions, such as digital stringing machines, automatic rope inspection systems, full electric machines, tower erection, OPGW installation and safety on crossing, essential machines, reels, ropes and joints, drum elevators and reel winders, stringing blocks, pivoting array blocks and head boards, bicycles and trolleys, aluminum structures, and overhead tools and accessories, as well as machines for special application; and underground machines, drum elevators and trailers, and tools and accessories.

It offers energy automation products comprising protection and monitoring systems; remote control devices; service telecommunications; and smart metering tools.

In addition, the company offers rocksaw, chainsaw, and bucket wheel trenchers; surface miners; detection and mapping solutions; mechanical laying solutions; and trenchers with integrated vacuum systems.

Further, it provides catenary installation solutions, catenary and track maintenance vehicles, diagnostic solutions and systems, snow removal solutions, and wiring units for railway.

The company operates in Italy, rest of Europe, the Middle East, Africa, North and Central America, Brazil, Russia, India, China, and internationally. Tesmec S.p.A. was founded in 1951 and is headquartered in Grassobbio, Italy.

Stock analysis

Tesmec (TES) currently trades at €0.4010, while our model-based Fair Value estimate is €0.1400, 65% 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 €0.3400 per share, and 3 of the 23 models we run sit above the €0.4010 price.

Bear case: the Asset-Based group reads lowest at €0.0300, and 20 of the 23 models stay below the price. Data coverage for this calculation is low.

Scenario range: €0.1100 (bear) to €0.1800 (bull), the price of €0.4010 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 52/100 (solid quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Tesmec reported revenue of €258M in FY2025 versus €180M in FY2021, a compound +9.3%/yr. Reported net income was €1.7M in FY2025, compounding +9.1%/yr from FY2021.

Key figures

Market cap €246M Micro · P/S ratio 0.99 · Net margin 0.7% · Return on equity 3.4% · Return on assets (EBIT) 3.5% (5-year average) · Operating margin 8.4% · Revenue (TTM) €273M · Revenue growth (YoY) +16.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 257% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −65%, TES screens richer than that median.

Fair Value models

Bear €0.1100 Fair Value €0.1400 Bull €0.1800
Price €0.4010 · Downside -65.1%
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. 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
FCF DCF €0.2500 €0.3700 €0.5100 79
Growth DCF €0.2500 €0.3500 €0.4700 78
5Y EBITDA Exit €0.3400 €0.5800 €0.8600 73
All 23 models by family
DCF Models
FCF DCF €0.2500 €0.3700 €0.5100 79
5Y Revenue Exit €0.2000 €0.3300 €0.4800 71
5Y EBITDA Exit €0.3400 €0.5800 €0.8600 73
5Y P/E Exit €0.1000 €0.1400 €0.1700 71
10Y Revenue Exit €0.2100 €0.3200 €0.4600 65
10Y EBITDA Exit €0.2900 €0.4700 €0.7000 67
10Y P/E Exit €0.1600 €0.2100 €0.2600 64
Earnings-Based
Graham-Dodd €0.0200 €0.0600 €0.0800 65
Lynch FV €0.0100 €0.0200 €0.0300 59
PEG = 1.0 €0.0100 €0.0200 €0.0300 55
EPV €0.1100 €0.1300 €0.1400 73
Multiples
P/E Multiple €0.0400 €0.0600 €0.0700 63
P/S Multiple €0.0400 €0.0500 €0.0600 57
P/B Multiple €0.1100 €0.1400 €0.1800 55
EV/EBIT €0.1600 €0.2700 €0.3800 63
EV/EBITDA €0.3600 €0.5300 €0.7000 66
EV/Revenue €0.0700 €0.1700 €0.2700 49
Asset-Based
NCAV (Graham) €0.0200 €0.0300 €0.0400 54
Growth DCF
Growth DCF €0.2500 €0.3500 €0.4700 78
Rev-Margin DCF €0.2000 €0.3300 €0.4800 71
Economic Profit
Residual Income €0.0700 €0.0700 €0.0700 71
ROIC Compounder €0.1100 €0.1300 €0.1600 71
Growth Earnings
Growth-Adj P/E €0.0400 €0.0500 €0.0700 67

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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 28
How much profit the company makes from its sales and capital
Quality Growth 45
Are margins and returns getting better?
Cashflow 55
Do the profits arrive as real cash?
Financial strength 33
Debt, balance sheet and risk of trouble
Investment 79
Does it invest with discipline instead of growing at any price?
Low Volatility 38
How calm the share price moves, does not count
Price momentum 84
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 81
Distance to the 52-week high, does not count
New shares 86
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. 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.5%
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.
+5.8%
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.
+8.2%
Start year 2020 (pandemic). Over 10 years: +4.8% a year
Revenue growth 18 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.
+6.0%
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.
−20.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−20.2%
Dividend (yield on the price)0.0%
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.−20.2% vs −21.2%, steady
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.−2% → 8%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 2.7%/yr over ~10Y (margins eroding too) ⓘ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

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).
+8.6%
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 +6.3% a year for the price.

TES screens overvalued: fair value 65% below the price. Compare with SIE →

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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.Specialty Industrial Machinery · 813 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside −65.1% · Bottom 25%
Profitability
Return on equity (12 months) 3.4% · Below median
Return on assets 0.4% · Bottom 25%
Net margin (12 months) 2.3% · Below median
Operating margin (12 months) 8.4% · Above median
Growth and dividend
Revenue growth (quarter YoY) 16.5% · Above median
Balance sheet
Debt / equity 1.16× · Highest 25%

Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper

P/B 3.48× · Pricier than median
P/S (12 months) 0.90× · Cheapest 25%
Price / free cash flow (fiscal year) 8.9× · Cheapest 25%
EV/EBITDA 15.0× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)83 · sector 30
PAST (return on equity)13 · sector 28
HEALTH (low debt)42 · sector 96
DIVIDEND (yield)0 · sector 29

VALUE 0: the price sits above our fair-value range.

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Cummins Inc CMI $450.07 $359.36 −20% vs TES
SIE SIE €263.65 €149.56 −43% vs TES
AMETEK, Inc AME $228.67 $125.74 −45% vs TES
Illinois Tool Works Inc ITW $280.95 $154.30 −45% vs TES
Sandvik AB SAND kr 357.40 kr 194.33 −46% vs TES
Parker-Hannifin Corporation PH $917.79 $492.92 −46% vs TES
Rockwell Automation, Inc ROK $375.86 $186.75 −50% vs TES
Emerson Electric Co EMR $162.35 $79.99 −51% vs TES
Eaton Corporation ETN $341.72 $156.90 −54% vs TES
GE Vernova Inc GEV $774.11 $143.50 −81% vs TES

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Tesmec: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Tesmec Fair Value". https://www.fairvalue-calculator.com/stock/TES

Frequently asked questions

Is Tesmec (TES) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €0.1400 versus a price of €0.4010, about 65% lower (overvalued).
What is the fair value of TES?
Our model-based fair value for Tesmec is €0.1400 (as of Nov 4, 2026), built from audited fundamentals. The current price: €0.4010.
What is the quality score of TES?
Tesmec 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 Tesmec (TES)?
Our model-based price target is the fair value of €0.1400 (as of Nov 4, 2026) from 23 valuation models. Cautious scenario €0.1100, optimistic scenario €0.1800. It is a calculation from audited fundamentals, not an analyst target.
What is the Tesmec stock forecast for 2026?
Our models put fair value at €0.1400, about 65% lower versus a price of €0.4010 (overvalued). Cautious scenario €0.1100, optimistic scenario €0.1800. The calculation is refreshed regularly with new filings.
What is the revenue of Tesmec (TES)?
Tesmec reported trailing-twelve-month revenue of about €273M (latest available figure, as of Nov 4, 2026).
What growth is priced into Tesmec (TES)?
For today's price to be fair in a discounted-cash-flow model, Tesmec would have to grow free cash flow by +8.6 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.2 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of TES use?
Our models discount Tesmec at 12.8 %: a base by market capitalisation (small), damped by beta 0.82, 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 Tesmec that is +8.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Tesmec (TES) delivered so far?
Over the past 5 years revenue at Tesmec grew +8.2 % a year. The price currently implies free-cash-flow growth of +8.6 % 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 Tesmec (TES) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Tesmec (+8.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tesmec (TES)?
The free-cash-flow yield on the price is 11.53 %: that much free cash flow Tesmec produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tesmec (TES)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tesmec it is €0.1400 per share (as of Nov 4, 2026), against a price of €0.4010. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Tesmec stock overvalued or undervalued in 2026?
As of Nov 4, 2026, TES trades above its calculated fair value: price €0.4010, fair value €0.1400, a gap of about −65% (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 TES?
No. The price is what the market pays today (€0.4010); the fair value is what the company's own numbers justify (€0.1400). For Tesmec the two are €0.2610 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tesmec worth?
The market values Tesmec at about €246M (market capitalisation, as of Nov 4, 2026). Per share that is €0.4010; our models calculate a fair value of €0.1400 per share.
What do the bullish and bearish scenarios say about TES?
Our models span a range for Tesmec: cautious scenario €0.1100, base €0.1400, optimistic €0.1800 per share (as of Nov 4, 2026, price €0.4010). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tesmec (TES)?
Balance-sheet figures for Tesmec (as of Nov 4, 2026): return on equity 3.4%, debt of 1.16 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is TES from its 52-week high?
Tesmec trades at €0.4010, about 30% below its 52-week high of €0.5740 and 257% above the low of €0.1122 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €0.1400 is for.
Which stocks are comparable to Tesmec?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, 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 Tesmec stock attractive at the current price?
The data as of Nov 4, 2026: price €0.4010, calculated fair value €0.1400 (−65%), Quality Score 52/100, from 23 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 TES calculated?
We run Tesmec through 23 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €0.1400 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. Tesmec 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 Tesmec (TES)?
The closing price on Nov 6, 2026 was €0.4010. Our model-based fair value is €0.1400, about 65% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tesmec right now?
The price sits above even our optimistic bull case (€0.1800). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Tesmec

How large is the market capitalisation of Tesmec (TES)?
The market capitalisation of Tesmec is €246M. 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 Tesmec (TES)?
The price-to-sales ratio of Tesmec is 0.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Tesmec (TES)?
The net margin of Tesmec is 0.7% (fiscal year 2025). 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 Tesmec (TES)?
The return on equity (ROE) of Tesmec is 3.4% (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 Tesmec (TES)?
On an EBIT basis the return on assets of Tesmec is 3.5% (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 Tesmec (TES)?
The operating margin of Tesmec is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tesmec (TES)?
Revenue at Tesmec is growing +16.5% versus a year earlier (3y avg +5.8%). 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 Tesmec (TES)?
Earnings per share at Tesmec are growing +189% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tesmec (TES) carry?
The net debt of Tesmec is €125M (fiscal year 2025, ≈ 4.5 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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