ENAV S.p.A (0RIE) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of ENAV S.p.A €2.34, price €4.90, upside -52.2%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch ENAV S.p.A for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range €2.48 – €5.36 · fair‑value band €1.75 – €2.92 · the €4.90 price screens above the €2.34 fair value. Dashed = 300-day average. As of Sep 24, 2026.
ENAV S.p.A. provides air traffic control and management, and other air navigation services in Italy, the rest of Europe, and internationally. It operates through three segments: Air Navigation Services, Maintenance Services, and Aeronautical Information Management (AIM) Software Solutions.
Show more
ENAV S.p.A. provides air traffic control and management, and other air navigation services in Italy, the rest of Europe, and internationally. It operates through three segments: Air Navigation Services, Maintenance Services, and Aeronautical Information Management (AIM) Software Solutions. The company offers technical management and maintenance services for air traffic control equipment and systems, as well as for air infrastructure. It also develops software solutions for the management of aeronautical information and air traffic; and provides associated commercial and maintenance services. In addition, the company offers air traffic flow management, air traffic management and weather, communication navigation and surveillance, digital aeronautical information management, flight procedure design and validation, and unmanned aircraft system traffic management. Further, it provides consultancy for change management, aeronautical information, engineering and maintenance, education and training, meteorology, in flight control and validation, safety assessment and risk management; and evaluation of obstacle and electromagnetic interference services. It serves airport management and airlines companies, air navigation service providers, industries, civil aviation, and research and development industries. The company was founded in 2001 and is based in Rome, Italy.
Stock analysis
ENAV S.p.A (0RIE) currently trades at €4.90, while our model-based Fair Value estimate is €2.34, 52.2% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of €3.41 per share, and 3 of the 21 models we run sit above the €4.90 price.
Bear case: the Earnings-Based group reads lowest at €1.05, and 18 of the 21 models stay below the price. Evidence for this calculation is low.
Scenario range: €1.75 (bear) to €2.92 (bull), the price of €4.90 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 57/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
ENAV S.p.A reported revenue of €736M in FY2020 versus €823M in FY2016, a compound −2.8%/yr. Reported net income was €54.3M in FY2020, compounding −8.2%/yr from FY2016.
Key figures
Market cap €2.1B · P/S ratio 2.11 · Net margin 7.4% · Return on equity 8.5% · Return on assets (EBIT) 6.5% · Operating margin 2.7% · Revenue (TTM) €998M · Revenue growth (YoY) +8.6%.
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 9% below its 52-week high and 20% 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 −52%, 0RIE screens richer than that median.
Fair Value models
Bear €1.75Fair Value €2.34Bull €2.92
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.
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.38/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−14.9%
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.
−4.6%
’16
’17
’18
’19
’20
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.
14.2% (2016) → 9.7% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 51 stocks
Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Below median
Fair Value upside−56.2% · Bottom 25%
Profitability
Return on equity (TTM)8.5% · Below median
Return on assets3.6% · Below median
Net margin (TTM)10.0% · Below median
Operating margin (TTM)2.7% · Bottom 25%
Growth and dividend
Revenue growth8.6% · Above median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.44× · Above median
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
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). "ENAV S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/0RIE
Frequently asked questions
Is ENAV S.p.A (0RIE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €2.34 versus a price of €4.90, about −52% upside (overvalued).
What is the fair value of 0RIE?
Our model-based fair value for ENAV S.p.A is €2.34 (as of Sep 24, 2026), built from audited fundamentals. The current price: €4.90.
What is the quality score of 0RIE?
ENAV S.p.A has a Quality Score of 57/100. 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 ENAV S.p.A (0RIE)?
Our model-based price target is the fair value of €2.34 (as of Sep 24, 2026) from 21 valuation models. Cautious scenario €1.75, optimistic scenario €2.92. It is a calculation from audited fundamentals, not an analyst target.
What is the ENAV S.p.A stock forecast for 2026?
Our models put fair value at €2.34, about −52% upside versus a price of €4.90 (overvalued). Cautious scenario €1.75, optimistic scenario €2.92. The calculation is refreshed regularly with new filings.
What is the revenue of ENAV S.p.A (0RIE)?
ENAV S.p.A reported trailing-twelve-month revenue of about €998M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of ENAV S.p.A (0RIE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ENAV S.p.A it is €2.34 per share (as of Sep 24, 2026), against a price of €4.90. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is ENAV S.p.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0RIE trades above its calculated fair value: price €4.90, fair value €2.34, a gap of about −52% (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 0RIE?
No. The price is what the market pays today (€4.90); the fair value is what the company's own numbers justify (€2.34). For ENAV S.p.A the two are €2.56 per share apart. That gap is exactly why we show both numbers side by side.
How much is ENAV S.p.A worth?
The market values ENAV S.p.A at about €2.1B (market capitalisation, as of Sep 24, 2026). Per share that is €4.90; our models calculate a fair value of €2.34 per share.
What do the bullish and bearish scenarios say about 0RIE?
Our models span a range for ENAV S.p.A: cautious scenario €1.75, base €2.34, optimistic €2.92 per share (as of Sep 24, 2026, price €4.90). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ENAV S.p.A (0RIE)?
Balance-sheet figures for ENAV S.p.A (as of Sep 24, 2026): return on equity 8.5%, debt of 0.44 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 0RIE from its 52-week high?
ENAV S.p.A trades at €4.90, about 9% below its 52-week high of €5.36 and 20% above the low of €4.07 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €2.34 is for.
Which stocks are comparable to ENAV 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 ENAV S.p.A stock attractive at the current price?
The data as of Sep 24, 2026: price €4.90, calculated fair value €2.34 (−52%), Quality Score 57/100, 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 0RIE calculated?
We run ENAV S.p.A through 21 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 €2.34, 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. ENAV 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 ENAV S.p.A (0RIE)?
The closing price on Oct 2, 2026 was €4.90. Our model-based fair value is €2.34, about −52% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ENAV S.p.A right now?
The price sits above even our optimistic bull case (€2.92). 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 (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of ENAV S.p.A
How large is the market capitalisation of ENAV S.p.A (0RIE)?
The market capitalisation of ENAV S.p.A is €2.1B. 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 ENAV S.p.A (0RIE)?
The price-to-sales ratio of ENAV S.p.A is 2.11 (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 ENAV S.p.A (0RIE)?
The net margin of ENAV S.p.A is 7.4% (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 ENAV S.p.A (0RIE)?
The return on equity (ROE) of ENAV S.p.A is 8.5% (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 ENAV S.p.A (0RIE)?
On an EBIT basis the return on assets of ENAV S.p.A is 6.5% (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 ENAV S.p.A (0RIE)?
The operating margin of ENAV S.p.A is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ENAV S.p.A (0RIE)?
Revenue at ENAV S.p.A is growing +8.6% versus a year earlier (3y avg −4.6%). 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 ENAV S.p.A (0RIE)?
Earnings per share at ENAV S.p.A are growing −27.2% versus a year earlier. How much earnings per share grew versus a year earlier.
Free · no account needed
Watch ENAV S.p.A in the live analysis
One click puts ENAV S.p.A on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
