Saipem SpA (0RPI) fair value: what the stock is really worth
As of Jul 17, 2026: fair value of Saipem SpA €5.18, price €4.20, upside +23.3%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 €0.5137 – €96.36 · fair‑value band €3.87 – €7.74 · the €4.20 price screens below the €5.18 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Saipem SpA provides energy and infrastructure solutions worldwide. It operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments.
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Saipem SpA provides energy and infrastructure solutions worldwide. It operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments. The company offers development of subsea fields and pipelaying; installation and lifting of offshore structures; engages in engineering, implementation, installation, maintenance, modification, and decommissioning activities, as well as offshore engineering and construction, and wind activities. It is also involved in onshore engineering and construction, sustainable infrastructures, and robotics and industrialized solutions; and design and construction of infrastructure projects, such as railway lines in high speed/high capacity lines. In addition, the company provides procurement, project management, and construction services to oil and gas, civil and marine infrastructure, and environmental markets. The company was founded in 1957 and is headquartered in Milan, Italy.
Stock analysis
Saipem SpA (0RPI) currently trades at €4.20, while our model-based Fair Value estimate is €5.18, implying the stock looks roughly 18.9% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of €6.82 per share, and 1 of the 3 models we run sit above the €4.20 price.
Bear case: the Dividend Discount group reads lowest at €0.7600, and 2 of the 3 models stay below the price. Evidence for this calculation is low.
Scenario range: €3.87 (bear) to €7.74 (bull), the price of €4.20 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 36/100 (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.
Saipem SpA reported revenue of €7.4B in FY2020 versus €10.0B in FY2016, a compound −7.3%/yr. Reported net income was −€1.1B in FY2020.
Key figures
Market cap €1.2B · P/S ratio 0.08 · Net margin −15.4% · Return on equity 10.9% · Return on assets (EBIT) −2.6% · Operating margin 2.0% · Revenue (TTM) €15.6B · Revenue growth (YoY) +3.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 98% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −51% fair-value upside, at 23%, 0RPI screens cheaper than that median.
Fair Value models
Bear €3.87Fair Value €5.18Bull €7.74
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.6/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−18.8%
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.
−6.4%
’16
’17
’18
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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.
−15.0% (2016) → −11.4% (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.
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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.Construction & Engineering · 17 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside+23.3% · Above median
Profitability
Return on equity (TTM)10.9% · Above median
Return on assets4.2% · Above median
Net margin (TTM)1.7% · Below median
Operating margin (TTM)2.0% · Below median
Growth and dividend
Revenue growth3.2% · Above median
Balance sheet
Debt / equity0.88× · Highest 25%
Valuation Multiplesvs Construction & Engineering median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Saipem SpA Fair Value". https://www.fairvalue-calculator.com/stock/0RPI
Frequently asked questions
Is Saipem SpA (0RPI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €5.18 versus the last price from Jul 17, 2026 of €4.20, about +23% upside (undervalued).
What is the fair value of 0RPI?
Our model-based fair value for Saipem SpA is €5.18 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Jul 17, 2026): €4.20.
What is the quality score of 0RPI?
Saipem SpA has a Quality Score of 36/100. 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 Saipem SpA (0RPI)?
Our model-based price target is the fair value of €5.18 (as of Sep 24, 2026) from 3 valuation models. Cautious scenario €3.87, optimistic scenario €7.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Saipem SpA stock forecast for 2026?
Our models put fair value at €5.18, about +23% upside versus the last price from Jul 17, 2026 of €4.20 (undervalued). Cautious scenario €3.87, optimistic scenario €7.74. The calculation is refreshed regularly with new filings.
What is the revenue of Saipem SpA (0RPI)?
Saipem SpA reported trailing-twelve-month revenue of about €15.6B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Saipem SpA (0RPI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Saipem SpA it is €5.18 per share (as of Sep 24, 2026), against a price of €4.20. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Saipem SpA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0RPI trades below its calculated fair value: price €4.20, fair value €5.18, a gap of about +23% (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 0RPI?
No. The price is what the market pays today (€4.20); the fair value is what the company's own numbers justify (€5.18). For Saipem SpA the two are €0.9780 per share apart. That gap is exactly why we show both numbers side by side.
How much is Saipem SpA worth?
The market values Saipem SpA at about €1.2B (market capitalisation, as of Sep 24, 2026). Per share that is €4.20; our models calculate a fair value of €5.18 per share.
What do the bullish and bearish scenarios say about 0RPI?
Our models span a range for Saipem SpA: cautious scenario €3.87, base €5.18, optimistic €7.74 per share (as of Sep 24, 2026, price €4.20). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Saipem SpA (0RPI)?
Balance-sheet figures for Saipem SpA (as of Sep 24, 2026): return on equity 10.9%, debt of 0.88 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 0RPI from its 52-week high?
Saipem SpA trades at €4.20, about 11% below its 52-week high of €4.75 and 98% above the low of €2.12 (as of Jul 17, 2026). Distance from the high says nothing about value: that is what the fair value of €5.18 is for.
Which stocks are comparable to Saipem SpA?
From the same area (Industrials) we also value KT Submarine Co, Hanyang ENG Co, MWIDE, EEIPB, 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 Saipem SpA stock attractive at the current price?
The data as of Sep 24, 2026: price €4.20, calculated fair value €5.18 (+23%), Quality Score 36/100, from 3 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 0RPI calculated?
We run Saipem SpA through 3 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 €5.18, 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. Saipem SpA currently trades 19 % 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 Saipem SpA (0RPI)?
The latest price we hold is from Jul 17, 2026 and stands at €4.20. Our model-based fair value is €5.18, about +23% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Saipem SpA right now?
A fairly wide model range (€3.87 to €7.74) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Saipem SpA
How large is the market capitalisation of Saipem SpA (0RPI)?
The market capitalisation of Saipem 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 Saipem SpA (0RPI)?
The price-to-sales ratio of Saipem SpA is 0.08 (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 Saipem SpA (0RPI)?
The net margin of Saipem SpA is −15.4% (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 Saipem SpA (0RPI)?
The return on equity (ROE) of Saipem SpA is 10.9% (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 Saipem SpA (0RPI)?
On an EBIT basis the return on assets of Saipem SpA is −2.6% (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 Saipem SpA (0RPI)?
The operating margin of Saipem SpA is 2.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Saipem SpA (0RPI)?
Revenue at Saipem SpA is growing +3.2% versus a year earlier (3y avg −6.4%). 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 Saipem SpA (0RPI)?
Earnings per share at Saipem SpA are growing −9.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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