TraWell Co S.p.A (TWL) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of TraWell Co S.p.A stock €35.12, price €22.00, upside +59.6%, quality 46 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 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 €21.65 – €47.40 · fair‑value band €19.82 – €48.22 · the €22.00 price screens below the €35.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 4, 2026.
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TraWell Co S.p.A., together with its subsidiaries, engages in the provision of baggage protection services at airports in Europe, Asia, the United States.
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The company also provides luggage wrapping films, suitcases, padlocks, fanny packs, travel products, neck pillows, eye masks, earplugs, power banks and adapters, and reading lights.
In addition, it offers baggage storage, luggage and document delivery, baggage weighing, and luggage pickup and delivery services; and operates SosTravel.com, a platform that provides luggage tracking, baggage status checking, lost baggage assistance, and customer support services.
The company was formerly known as Safe Bag S.p.A. and changed its name to TraWell Co S.p.A. in November 2018. TraWell Co S.p.A. was founded in 1997 and is headquartered in Gallarate, Italy. TraWell Co S.p.A. operates as a subsidiary of RG Holding S.r.l.
Stock analysis
TraWell Co S.p.A (TWL) currently trades at €22.00, while our model-based Fair Value estimate is €35.12, implying the stock looks roughly 37% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €41.33 per share, and 17 of the 24 models we run sit above the €22.00 price.
Bear case: the Dividend Discount group reads lowest at €10.56, and 7 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €19.82 (bear) to €48.22 (bull), the price of €22.00 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 46/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
TraWell Co S.p.A reported revenue of €27.7M in FY2025 versus €18.4M in FY2021, a compound +10.7%/yr. Reported net income was €743K in FY2025, compounding +1.3%/yr from FY2021.
Key figures
Market cap €11.1M Micro · P/S ratio 0.42 · EPS (TTM) €−2.57 · Dividend yield 8.2% · Net margin −4.7% · Return on equity −2.8% · Return on assets (EBIT) 10.2% (5-year average) · Operating margin 3.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at 60%, TWL screens cheaper than that median.
Fair Value models
Bear€19.82Fair Value €35.12Bull€48.22
Price €22.00 · Upside +59.6%
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.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
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
−0.1%
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.
+11.1%
Start year 2020 (pandemic). Over 10 years: +0.0% a year
Revenue growth 14 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.
+14.3%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+46.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+38.0%
Dividend (yield on the price)8.2%
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.14.8% vs 1.4%, 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.−70% → 14%
2025 sits 452% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.3%/yr over ~10Y (margin trend unclear) ⓘ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).
+11.6%
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 +9.2% 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.Airports & Air Services · 48 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Bottom 25%
Fair Value upside+59.6% · Top 25%
Profitability
Return on assets4.9% · Below median
Net margin (12 months)−11.9% · Bottom 25%
Operating margin (12 months)3.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−10.2% · Bottom 25%
Dividend yield (12 months)8.2% · Top 25%
Balance sheet
Debt / equity0.89× · Highest 25%
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
P/B1.61× · 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). "TraWell Co S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/TWL.MI
Frequently asked questions
Is TraWell Co S.p.A (TWL) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €35.12 versus a price of €22.00, about +60% upside (undervalued).
What is the fair value of TWL?
Our model-based fair value for TraWell Co S.p.A is €35.12 (as of Nov 4, 2026), built from audited fundamentals. The current price: €22.00.
What is the quality score of TWL?
TraWell Co S.p.A has a Quality Score of 46/100. 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 TraWell Co S.p.A (TWL)?
Our model-based price target is the fair value of €35.12 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario €19.82, optimistic scenario €48.22. It is a calculation from audited fundamentals, not an analyst target.
What is the TraWell Co S.p.A stock forecast for 2026?
Our models put fair value at €35.12, about +60% upside versus a price of €22.00 (undervalued). Cautious scenario €19.82, optimistic scenario €48.22. The calculation is refreshed regularly with new filings.
What is the revenue of TraWell Co S.p.A (TWL)?
TraWell Co S.p.A reported trailing-twelve-month revenue of about €27.4M (latest available figure, as of Nov 4, 2026).
Does TraWell Co S.p.A pay a dividend?
TraWell Co S.p.A currently shows a dividend yield of 8.23% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of TraWell Co S.p.A (TWL)?
TraWell Co S.p.A has a dividend yield of 8.2%.
What growth is priced into TraWell Co S.p.A (TWL)?
For today's price to be fair in a discounted-cash-flow model, TraWell Co S.p.A would have to grow free cash flow by +11.6 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.1 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of TWL use?
Our models discount TraWell Co S.p.A at 10.5 %: a base by market capitalisation (nano), damped by beta 0.48, 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 TraWell Co S.p.A that is +11.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has TraWell Co S.p.A (TWL) delivered so far?
Over the past 5 years revenue at TraWell Co S.p.A grew +11.1 % a year. The price currently implies free-cash-flow growth of +11.6 % 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 TraWell Co S.p.A (TWL) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into TraWell Co S.p.A (+11.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TraWell Co S.p.A (TWL)?
The free-cash-flow yield on the price is 7.51 %: that much free cash flow TraWell Co S.p.A produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TraWell Co S.p.A (TWL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TraWell Co S.p.A it is €35.12 per share (as of Nov 4, 2026), against a price of €22.00. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is TraWell Co S.p.A stock overvalued or undervalued in 2026?
As of Nov 4, 2026, TWL trades below its calculated fair value: price €22.00, fair value €35.12, a gap of about +60% (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 TWL?
No. The price is what the market pays today (€22.00); the fair value is what the company's own numbers justify (€35.12). For TraWell Co S.p.A the two are €13.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is TraWell Co S.p.A worth?
The market values TraWell Co S.p.A at about €11.1M (market capitalisation, as of Nov 4, 2026). Per share that is €22.00; our models calculate a fair value of €35.12 per share.
What do the bullish and bearish scenarios say about TWL?
Our models span a range for TraWell Co S.p.A: cautious scenario €19.82, base €35.12, optimistic €48.22 per share (as of Nov 4, 2026, price €22.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of TraWell Co S.p.A (TWL)?
Balance-sheet figures for TraWell Co S.p.A (as of Nov 4, 2026): return on equity −2.8%, debt of 0.89 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is TWL from its 52-week high?
TraWell Co S.p.A trades at €22.00, about 29% below its 52-week high of €31.00 and 2% above the low of €21.65 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €35.12 is for.
Which stocks are comparable to TraWell Co S.p.A?
From the same area (Industrials) we also value Aena S.M.E., S.A, Airports of Thailand Public Company, GMR Airports Limited, Shanghai International Airport Co, 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 TraWell Co S.p.A stock attractive at the current price?
The data as of Nov 4, 2026: price €22.00, calculated fair value €35.12 (+60%), Quality Score 46/100, from 24 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 TWL calculated?
We run TraWell Co S.p.A through 24 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 €35.12 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. TraWell Co S.p.A currently trades 37% 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 TraWell Co S.p.A (TWL)?
The closing price on Nov 6, 2026 was €22.00. Our model-based fair value is €35.12, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TraWell Co S.p.A right now?
The large discount to fair value meets weak quality (46/100). That raises the risk this is a value trap rather than a bargain. A fairly wide model range (€19.82 to €48.22) leaves room in how you read the outcome.
Key figures of TraWell Co S.p.A
How large is the market capitalisation of TraWell Co S.p.A (TWL)?
The market capitalisation of TraWell Co S.p.A is €11.1M. 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 TraWell Co S.p.A (TWL)?
The price-to-sales ratio of TraWell Co S.p.A is 0.42 (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 TraWell Co S.p.A (TWL)?
Earnings per share at TraWell Co S.p.A are €−2.57. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TraWell Co S.p.A (TWL)?
The dividend yield of TraWell Co S.p.A is 8.2%. 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 TraWell Co S.p.A (TWL)?
The net margin of TraWell Co S.p.A is −4.7% (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 TraWell Co S.p.A (TWL)?
The return on equity (ROE) of TraWell Co S.p.A is −2.8% (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 TraWell Co S.p.A (TWL)?
On an EBIT basis the return on assets of TraWell Co S.p.A is 10.2% (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 TraWell Co S.p.A (TWL)?
The operating margin of TraWell Co S.p.A is 3.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TraWell Co S.p.A (TWL)?
Revenue at TraWell Co S.p.A is growing −10.2% versus a year earlier (3y avg −0.1%). 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 TraWell Co S.p.A (TWL)?
Earnings per share at TraWell Co S.p.A are growing −81.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TraWell Co S.p.A (TWL) carry?
The net debt of TraWell Co S.p.A is €15.9M (fiscal year 2025, ≈ 19.1 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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Some data
Nov 4, 2026