Tinexta SpA (TNXT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tinexta SpA stock €22.36, price €27.02, that is 17.3% below the price, quality 50 out of 100. Rating: overvalued. Calculated from audited financials with 6 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 4, 2026.
How to read this chart
60‑month range €7.14 – €38.64 · fair‑value band €14.45 – €31.80 · the €27.02 price screens above the €22.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Tinexta S.p.A., together its subsidiaries, provides digital trust, cybersecurity, and business innovation services for citizens, professionals, institutions, and businesses in Italy, France, Spain, rest of the EU, the United Kingdom, the UAE, and internationally.
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It operates in three segments: Digital Trust, Cybersecurity, and Business Innovation.
The company offers digital trust products, such as certified email, digital signature, time stamps, e-invoicing, digital preservation, and digital identity, as well as dematerialization solutions; data distribution platforms, software, and electronic services; and marketing consulting services.
It also provides innovation consulting services for businesses that invest in productivity, innovation, research, and development in order to obtain incentives, contributions, and subsidized financing; cybersecurity and IT services; and other innovation services.
The company was formerly known as Tecnoinvestimenti S.p.A. and changed its name to Tinexta S.p.A. in November 2018. The company was founded in 2009 and is headquartered in Rome, Italy.
Stock analysis
Tinexta SpA (TNXT) currently trades at €27.02, while our model-based Fair Value estimate is €22.36, 17% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €23.72 per share, and 0 of the 6 models we run sit above the €27.02 price.
Bear case: the Multiples group reads lowest at €20.66, and 6 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €14.45 (bear) to €31.80 (bull), the price of €27.02 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 50/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tinexta SpA reported revenue of €457M in FY2025 versus €370M in FY2021, a compound +5.4%/yr. Reported net income was −€43.0M in FY2025.
Key figures
Market cap €1.2B Small · P/S ratio 1.50 · EPS (TTM) €−1.92 · Dividend yield 3.1% · Net margin −16.9% · Return on equity −30.9% · Return on assets (EBIT) 2.7% (5-year average) · Operating margin 4.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (medium confidence).
What moves the price
The share trades about 8% below its 52-week high and 84% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 20% fair-value upside, at −17%, TNXT screens richer than that median.
Fair Value models
Bear€14.45Fair Value €22.36Bull€31.80
Price €27.02 · Downside -17.3%
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.61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.7%
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.
+8.6%
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.
+11.2%
Start year 2020 (pandemic). Over 10 years: +13.7% 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.
+5.9%
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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.
19.7% (2020) → −14.9% (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
Little optimism in the price
The price assumes more 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).
+14.2%
Yearly growth needed for the next five years to justify today's price.
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.
+20.1%
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 +11.8% a year for the price and +17.6% for the forecasts.
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.Information Technology Services · 479 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−17.3% · Below median
Profitability
Return on assets−4.3% · Bottom 25%
Net margin (12 months)−16.9% · Bottom 25%
Operating margin (12 months)4.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)1.0% · Below median
Dividend yield (12 months)3.1% · Above median
Balance sheet
Debt / equity0.53× · Highest 25%
Valuation Multiplesvs Information Technology Services median · lower = cheaper
P/B3.96× · 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)2.71× · Pricier than median
Price / free cash flow (fiscal year)14.1× · Cheaper than median
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). "Tinexta SpA Fair Value". https://www.fairvalue-calculator.com/stock/TNXT
Frequently asked questions
Is Tinexta SpA (TNXT) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €22.36 versus a price of €27.02, about 17% lower (overvalued).
What is the fair value of TNXT?
Our model-based fair value for Tinexta SpA is €22.36 (as of Nov 4, 2026), built from audited fundamentals. The current price: €27.02.
What is the quality score of TNXT?
Tinexta SpA has a Quality Score of 50/100. 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 Tinexta SpA (TNXT)?
Our model-based price target is the fair value of €22.36 (as of Nov 4, 2026) from 6 valuation models. Cautious scenario €14.45, optimistic scenario €31.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Tinexta SpA stock forecast for 2026?
Our models put fair value at €22.36, about 17% lower versus a price of €27.02 (overvalued). Cautious scenario €14.45, optimistic scenario €31.80. The calculation is refreshed regularly with new filings.
What is the revenue of Tinexta SpA (TNXT)?
Tinexta SpA reported trailing-twelve-month revenue of about €458M (latest available figure, as of Nov 4, 2026).
Does Tinexta SpA pay a dividend?
Tinexta SpA currently shows a dividend yield of 3.09% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Tinexta SpA (TNXT)?
Tinexta SpA has a dividend yield of 3.1%.
What growth is priced into Tinexta SpA (TNXT)?
For today's price to be fair in a discounted-cash-flow model, Tinexta SpA would have to grow free cash flow by +14.2 % per year for five years (discount rate 13.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.2 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of TNXT use?
Our models discount Tinexta SpA at 13.6 %: a base by market capitalisation (small), damped by beta 1.03, 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 Tinexta SpA that is +14.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.6 %) and the same formula as our fair value.
How much growth has Tinexta SpA (TNXT) delivered so far?
Over the past 5 years revenue at Tinexta SpA grew +11.2 % a year. The price currently implies free-cash-flow growth of +14.2 % 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 Tinexta SpA (TNXT) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Tinexta SpA (+14.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tinexta SpA (TNXT)?
The free-cash-flow yield on the price is 7.11 %: that much free cash flow Tinexta SpA produces per unit of market value. When it exceeds the discount rate of our models (13.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tinexta SpA (TNXT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tinexta SpA it is €22.36 per share (as of Nov 4, 2026), against a price of €27.02. It is the blended result of 6 valuation models in 3 families (DCF Models, Multiples, Growth DCF).
Is Tinexta SpA stock overvalued or undervalued in 2026?
As of Nov 4, 2026, TNXT trades above its calculated fair value: price €27.02, fair value €22.36, a gap of about −17% (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 TNXT?
No. The price is what the market pays today (€27.02); the fair value is what the company's own numbers justify (€22.36). For Tinexta SpA the two are €4.66 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tinexta SpA worth?
The market values Tinexta SpA at about €1.2B (market capitalisation, as of Nov 4, 2026). Per share that is €27.02; our models calculate a fair value of €22.36 per share.
What do the bullish and bearish scenarios say about TNXT?
Our models span a range for Tinexta SpA: cautious scenario €14.45, base €22.36, optimistic €31.80 per share (as of Nov 4, 2026, price €27.02). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tinexta SpA (TNXT)?
Balance-sheet figures for Tinexta SpA (as of Nov 4, 2026): return on equity −30.9%, debt of 0.53 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is TNXT from its 52-week high?
Tinexta SpA trades at €27.02, about 8% below its 52-week high of €29.27 and 84% above the low of €14.71 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €22.36 is for.
Which stocks are comparable to Tinexta SpA?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, 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 Tinexta SpA stock attractive at the current price?
The data as of Nov 4, 2026: price €27.02, calculated fair value €22.36 (−17%), Quality Score 50/100, from 6 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 TNXT calculated?
We run Tinexta SpA through 6 models from 3 families: DCF Models, Multiples, Growth DCF. Every model gets the same audited fundamentals; the fair value of €22.36 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. Tinexta SpA 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 Tinexta SpA (TNXT)?
The closing price on Nov 6, 2026 was €27.02. Our model-based fair value is €22.36, about 17% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tinexta SpA right now?
Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€14.45 to €31.80) leaves room in how you read the outcome.
Where does the earnings growth of Tinexta SpA (TNXT) come from?
Earnings per share at Tinexta SpA grew +15.1 % a year from 2015 to 2025. Broken into its drivers: revenue per share +10.9 %, EBIT margin −2.5 %, tax rate +2.2 %, residual (interest, one-offs) +4.1 %. 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 Tinexta SpA
How large is the market capitalisation of Tinexta SpA (TNXT)?
The market capitalisation of Tinexta SpA is €1.2B. 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 Tinexta SpA (TNXT)?
The price-to-sales ratio of Tinexta SpA is 1.50 (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 Tinexta SpA (TNXT)?
Earnings per share at Tinexta SpA are €−1.92. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tinexta SpA (TNXT)?
The dividend yield of Tinexta SpA is 3.1%. 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 Tinexta SpA (TNXT)?
The net margin of Tinexta SpA is −16.9% (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 Tinexta SpA (TNXT)?
The return on equity (ROE) of Tinexta SpA is −30.9% (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 Tinexta SpA (TNXT)?
On an EBIT basis the return on assets of Tinexta SpA is 2.7% (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 Tinexta SpA (TNXT)?
The operating margin of Tinexta SpA is 4.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tinexta SpA (TNXT)?
Revenue at Tinexta SpA is growing +1.0% versus a year earlier (3y avg +8.6%). 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 Tinexta SpA (TNXT)?
Earnings per share at Tinexta SpA are growing +4.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tinexta SpA (TNXT) carry?
The net debt of Tinexta SpA is €198M (fiscal year 2025, ≈ 2.2 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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Some data
Nov 4, 2026