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MAIRE S.p.A (0QEP) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of MAIRE S.p.A €12.18, price €12.62, upside -3.5%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · GB · Home Italy · ISIN IT0004931058

MS Thin data Sep 24, 2026

MAIRE S.p.A

0QEP · LSE

Low PriorityFair Value upside is limited and quality is weak.

·Fair value €12.18 · Fairly valued (−3.5%)
!Quality 40/100
!Weak Growth (revenue 3y −9.8 %/yr)
!Thin margins · 3.7% net margin (TTM)
!Moderate debt
·23.4% dividend yield · Safety not assessed
!Moderate moat 51/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

€16.74 €1.03 Fair Value €12.18 Mar 2020 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €1.03 – €16.74 · fair‑value band €9.13 – €15.22 · the €12.62 price screens above the €12.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

MAIRE S.p.A. engages in the provision of solutions in the field of green chemistry and energy transition technologies. The company operates through two segments, Integrated E&C Solutions and Sustainable Technology Solutions.

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MAIRE S.p.A. engages in the provision of solutions in the field of green chemistry and energy transition technologies. The company operates through two segments, Integrated E&C Solutions and Sustainable Technology Solutions. The Integrated E&C Solutions segment offers services and solutions for a low-carbon future, such as feed, engineering services, procurement and construction, as well as the upgrading and revamping of existing assets through its network of engineering hubs and operating centers. The Sustainable Technology Solutions provides technology solutions, including technology licensing, process design package basic engineering design, proprietary equipment and catalysts, digital solutions, and selected specialty solutions. It also offers nitrogen, hydrogen and circular carbon, fuels and chemical, polymer solutions. MAIRE S.p.A. was formerly known as Maire Tecnimont S.p.A. and changed its name to Maire S.p.A. in April 2024. The company is headquartered in Milan, Italy. Maire S.p.A. operates as a subsidiary of Glv Capital S.P.A.

Stock analysis

MAIRE S.p.A (0QEP) currently trades at €12.62, while our model-based Fair Value estimate is €12.18, so the stock looks roughly fairly valued today (gap 3.6%).

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Valuation

Bull case: the DCF Models group reads highest at a median of €15.90 per share, and 10 of the 23 models we run sit above the €12.62 price.

Bear case: the Earnings-Based group reads lowest at €2.01, and 13 of the 23 models stay below the price. Evidence for this calculation is low.

Scenario range: €9.13 (bear) to €15.22 (bull), the price of €12.62 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 40/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

MAIRE S.p.A reported revenue of €2.6B in FY2020 versus €2.4B in FY2016, a compound +1.6%/yr. Reported net income was €57.8M in FY2020, compounding −6.1%/yr from FY2016.

Key figures

Market cap €1.3B · P/S ratio 0.18 · Net margin 2.2% · Return on equity 40.8% · Return on assets (EBIT) 4.4% · Operating margin 5.1% · Revenue (TTM) €7.2B · Revenue growth (YoY) +7.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 25% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −3%, 0QEP screens cheaper than that median.

Fair Value models

Bear €9.13 Fair Value €12.18 Bull €15.22
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF €16.37 €23.03 €34.20 76
Growth DCF €17.08 €23.39 €33.17 75
Residual Income €3.74 €4.29 €5.20 73
All 23 models by family
DCF Models
FCF DCF €16.37 €23.03 €34.20 76
5Y Revenue Exit €9.75 €14.54 €21.46 69
5Y EBITDA Exit €11.96 €18.36 €26.85 71
5Y P/E Exit €8.35 €12.13 €16.71 68
10Y Revenue Exit €12.31 €15.90 €19.55 65
10Y EBITDA Exit €13.78 €18.06 €22.44 67
10Y P/E Exit €11.78 €14.55 €17.01 62
Earnings-Based
Graham-Dodd €3.85 €4.71 €5.29 65
EPV €1.10 €2.01 €2.77 71
Dividend Discount
Gordon GGM €4.57 €4.93 €5.46 67
DDM Multi-Stage €4.57 €5.45 €6.57 65
Multiples
P/E Multiple €8.92 €11.89 €14.87 63
P/S Multiple €7.22 €9.63 €12.03 58
P/B Multiple €7.22 €9.63 €12.03 55
EV/EBIT €9.89 €15.04 €20.19 65
EV/EBITDA €10.86 €16.33 €21.80 66
EV/Revenue €5.47 €10.20 €14.92 52
Asset-Based
NCAV (Graham) €2.02 €2.71 €4.04 54
Growth DCF
Growth DCF €17.08 €23.39 €33.17 75
Rev-Margin DCF €9.75 €15.12 €21.92 69
Economic Profit
Residual Income €3.74 €4.29 €5.20 73
ROIC Compounder €1.10 €2.01 €2.77 67
Growth Earnings
Growth-Adj P/E €6.30 €9.00 €11.70 65

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Quality Score breakdown

Overall quality 40/100

Of which business quality 41 · Market factors (momentum, volatility) 38

Profitability 40
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)

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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. 40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−22.1%
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.
−9.8%
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.
6.3% (2016) → 4.8% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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Compare MAIRE S.p.A with another stock

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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.Engineering & Construction · 789 stocks

Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 40 · Below median
Fair Value upside −18.2% · Below median
Profitability
Return on equity (TTM) 40.8% · Top 25%
Return on assets 3.0% · Above median
Net margin (TTM) 3.7% · Above median
Operating margin (TTM) 5.1% · Above median
Growth and dividend
Revenue growth 7.5% · Above median
Dividend yield (TTM) 23.4% · Top 25%
Balance sheet
Debt / equity 1.37× · Highest 25%

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B 3.62× · Priciest 25%
P/S (TTM) 0.21× · Cheapest 25%
EV/EBITDA 5.1× · Cheapest 25%

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

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Quanta Services, Inc PWR $642.51 $162.77 −75%
Vinci SA DG €105.60 €186.22 +76%
Comfort Systems USA, Inc FIX $1,658 $1,116 −33%
Larsen & Toubro Limited LT ₹3,876 ₹1,994 −49%
Samsung C&T Corporation 028260 367,000 KRW 159,718 KRW −56%
Ferrovial N.V FER $55.77 $21.74 −61%
HOCHTIEF Aktiengesellschaft HOT €407.40 €203.86 −50%
EMCOR Group EME $769.03 $525.05 −32%
ACS, Actividades de Construcción y Servicios, S.A ACS €95.00 €62.20 −35%
Bouygues SA EN €43.14 €66.31 +54%

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MAIRE S.p.A · Fair Value
€12.18 −3%Fair Value
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Cite: Fair Value Calculator (2026). "MAIRE S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/0QEP

Frequently asked questions

Is MAIRE S.p.A (0QEP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €12.18 versus a price of €12.62, about −3% upside (fairly valued).
What is the fair value of 0QEP?
Our model-based fair value for MAIRE S.p.A is €12.18 (as of Sep 24, 2026), built from audited fundamentals. The current price: €12.62.
What is the quality score of 0QEP?
MAIRE S.p.A has a Quality Score of 40/100. 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 MAIRE S.p.A (0QEP)?
Our model-based price target is the fair value of €12.18 (as of Sep 24, 2026) from 23 valuation models. Cautious scenario €9.13, optimistic scenario €15.22. It is a calculation from audited fundamentals, not an analyst target.
What is the MAIRE S.p.A stock forecast for 2026?
Our models put fair value at €12.18, about −3% upside versus a price of €12.62 (fairly valued). Cautious scenario €9.13, optimistic scenario €15.22. The calculation is refreshed regularly with new filings.
What is the revenue of MAIRE S.p.A (0QEP)?
MAIRE S.p.A reported trailing-twelve-month revenue of about €7.2B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of MAIRE S.p.A (0QEP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MAIRE S.p.A it is €12.18 per share (as of Sep 24, 2026), against a price of €12.62. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is MAIRE S.p.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0QEP trades above its calculated fair value: price €12.62, fair value €12.18, a gap of about −3% (fairly valued). 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 0QEP?
No. The price is what the market pays today (€12.62); the fair value is what the company's own numbers justify (€12.18). For MAIRE S.p.A the two are €0.4350 per share apart. That gap is exactly why we show both numbers side by side.
How much is MAIRE S.p.A worth?
The market values MAIRE S.p.A at about €1.3B (market capitalisation, as of Sep 24, 2026). Per share that is €12.62; our models calculate a fair value of €12.18 per share.
What do the bullish and bearish scenarios say about 0QEP?
Our models span a range for MAIRE S.p.A: cautious scenario €9.13, base €12.18, optimistic €15.22 per share (as of Sep 24, 2026, price €12.62). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of MAIRE S.p.A (0QEP)?
Balance-sheet figures for MAIRE S.p.A (as of Sep 24, 2026): return on equity 40.8%, debt of 1.37 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 0QEP from its 52-week high?
MAIRE S.p.A trades at €12.62, about 25% below its 52-week high of €16.74 and 14% above the low of €11.04 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €12.18 is for.
Which stocks are comparable to MAIRE S.p.A?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 MAIRE S.p.A stock attractive at the current price?
The data as of Sep 24, 2026: price €12.62, calculated fair value €12.18 (−3%), Quality Score 40/100, 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 0QEP calculated?
We run MAIRE S.p.A through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €12.18, 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 14.5 % above its aggregate fair value. MAIRE S.p.A 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 MAIRE S.p.A (0QEP)?
The closing price on Oct 2, 2026 was €12.62. Our model-based fair value is €12.18, about −3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MAIRE S.p.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of MAIRE S.p.A

How large is the market capitalisation of MAIRE S.p.A (0QEP)?
The market capitalisation of MAIRE S.p.A is €1.3B. 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 MAIRE S.p.A (0QEP)?
The price-to-sales ratio of MAIRE S.p.A is 0.18 (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 MAIRE S.p.A (0QEP)?
The net margin of MAIRE S.p.A is 2.2% (fiscal year 2020). 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 MAIRE S.p.A (0QEP)?
The return on equity (ROE) of MAIRE S.p.A is 40.8% (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 MAIRE S.p.A (0QEP)?
On an EBIT basis the return on assets of MAIRE S.p.A is 4.4% (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 MAIRE S.p.A (0QEP)?
The operating margin of MAIRE 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 MAIRE S.p.A (0QEP)?
Revenue at MAIRE S.p.A is growing +7.5% versus a year earlier (3y avg −9.8%). 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 MAIRE S.p.A (0QEP)?
Earnings per share at MAIRE S.p.A are growing +11.1% versus a year earlier. How much earnings per share grew versus a year earlier.
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