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Carel Industries S.p.A (0YQA) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Carel Industries S.p.A €30.84, price €27.75, upside +11.1%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 24, 2026
Carel Industries S.p.A
0YQA · LSEUndervaluedQuality growthThe stock appears undervalued with acceptable quality.
✓Fair value €30.84 · Undervalued (+11.1%)
✓Quality 60/100
✓Healthy Growth (revenue 5y +13.7 %/yr)
✓Solidly profitable · 12.6% net margin (TTM)
✓generates free cash flow
!Moderate moat 60/100
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
69 individual criteria per stock, every one traceable See 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 €14.79 – €32.54 · fair‑value band €21.42 – €38.55 · the €27.75 price screens below the €30.84 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Carel Industries S.p.A., together with its subsidiaries, designs, manufactures, markets, and distributes control and humidification solutions in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific.
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Carel Industries S.p.A., together with its subsidiaries, designs, manufactures, markets, and distributes control and humidification solutions in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company offers programmable controls; terminals; specialized controls for heating, ventilation, and air-conditioning (HVAC); specialized controls for food retail and refrigeration; steam and adiabatic humidifiers; Reverse osmosis water treatment systems; IoT digital services; remote management, supervision, and monitoring systems; connectivity products; sensors and protection devices; electronic expansion valves; temperature, humidity, and pressure controls; speed controllers and inverters for electric motors; electrical panels and power solutions; and obsolete products for system solutions and unit control applications. It also provides technical support, field, digital, and repair services, as well as spare parts. The company serves residential, industrial, and commercial segments in the HVAC market, as well as food retail and food service segments of the refrigeration market. The company was founded in 1973 and is headquartered in Brugine, Italy.
Stock analysis
Carel Industries S.p.A (0YQA) currently trades at €27.75, while our model-based Fair Value estimate is €30.84, implying the stock looks roughly 10.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €24.90 per share, and 1 of the 26 models we run sit above the €27.75 price.
Bear case: the Asset-Based group reads lowest at €3.30, and 25 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: €21.42 (bear) to €38.55 (bull), the price of €27.75 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 60/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Carel Industries S.p.A reported revenue of €629M in FY2025 versus €420M in FY2021, a compound +10.6%/yr. Reported net income was €73.6M in FY2025, compounding +10.7%/yr from FY2021.
Key figures
Market cap €3.1B · P/E ratio 0.5 · P/S ratio 0.06 · EPS (TTM) €0.5220 · Net margin 11.7% · Return on equity 17.3% · Return on assets (EBIT) 10.2% · Operating margin 15.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 37% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −64% fair-value upside, at 11%, 0YQA screens cheaper than that median.
Fair Value models
Bear €21.42
Fair Value €30.84
Bull €38.55
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.3947 per share) are deliberately not added.
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
€15.24
€25.45
€42.23
76
Growth DCF
€15.15
€24.52
€39.37
74
Residual Income
€4.90
€6.44
€10.03
74
All 26 models by family
DCF Models
FCF DCF
€15.24
€25.45
€42.23
76
Owner Earnings
€14.51
€24.19
€40.09
72
5Y Revenue Exit
€10.97
€16.95
€24.83
69
5Y EBITDA Exit
€16.44
€28.08
€42.52
71
5Y P/E Exit
€15.63
€26.44
€38.64
67
10Y Revenue Exit
€12.10
€18.16
€26.96
64
10Y EBITDA Exit
€15.87
€26.06
€41.24
64
10Y P/E Exit
€15.35
€24.90
€38.11
61
Earnings-Based
Graham-Dodd
€5.16
€22.81
€31.23
64
Lynch FV
€5.91
€8.44
€10.97
61
PEG = 1.0
€5.91
€8.44
€10.97
57
EPV
€6.92
€7.81
€8.59
70
Dividend Discount
Gordon GGM
€1.68
€3.35
€5.07
67
DDM Multi-Stage
€1.68
€2.89
€3.53
67
Multiples
P/E Multiple
€15.94
€21.25
€26.56
63
P/S Multiple
€9.68
€12.90
€16.13
58
P/B Multiple
€9.68
€12.90
€16.13
55
EV/EBIT
€16.46
€21.53
€26.59
63
EV/EBITDA
€18.52
€24.27
€30.03
64
EV/Revenue
€8.94
€12.24
€15.53
51
Asset-Based
NCAV (Graham)
€2.46
€3.30
€4.92
51
Growth DCF
Growth DCF
€15.15
€24.52
€39.37
74
Rev-Margin DCF
€10.97
€16.93
€24.55
70
Economic Profit
Residual Income
€4.90
€6.44
€10.03
74
ROIC Compounder
€7.55
€9.61
€12.29
70
Growth Earnings
Growth-Adj P/E
€11.53
€16.47
€21.41
67
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Set up alert →Quality Score breakdown
Overall quality
60/100
Of which business quality 61 · Market factors (momentum, volatility) 59
Profitability
47
Margins and returns on capital today
Quality Growth
41
Are margins and returns improving?
Cashflow
78
Earnings quality: real cash, not paper profit
Fin. Strength
78
Balance sheet, leverage, solvency risk
Investment
50
Disciplined investing over empire-building
Low Volatility
56
Calm price path (market factor)
Momentum
61
Price trend over the last 3–12 months (market factor)
52W Momentum
59
Distance to the 52-week high (market factor)
Net Issuance
61
Share count: buybacks or dilution?
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.
100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.7%
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.
+4.9%
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.
+13.7%
Start year 2020 (pandemic). Over 10 years: +12.0% a year
Revenue growth 10 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.
+12.0%
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What shareholders gained per year (last 5 years) ⓘ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.
+13.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.7%
Dividend (yield on the price)0.0%
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.13.7% vs −11.7%, 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.14% → 13%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 16.0%/yr over ~8Y (margins eroding too) ⓘ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
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+17.1%
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.
+9.6%
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 +14.6% a year for the price and +7.3% for the forecasts.
Forecast 2026 (sales)+13.5%
Forecast 2027 (sales)+10.2%
Projected 2028 (sales)+9.2%
Projected 2029 (sales)+8.2%
Projected 2030 (sales)+7.2%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK 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
Similar stocks
10 more Electronic Components stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Amphenol Corporation APH | $84.30 | $84.44 | +0% |
| Delta Electronics, Inc 2308 | 1,910 TWD | 519.57 TWD | −73% |
| Corning Incorporated GLW | $153.76 | $33.52 | −78% |
| Hon Hai Precision Industry Co 2317 | 250.50 TWD | 293.60 TWD | +17% |
| Samsung Electro-Mechanics Co 009150 | 1,507,000 KRW | 171,572 KRW | −89% |
| TE Connectivity plc TEL | $218.59 | $142.45 | −35% |
| Luxshare Precision Industry Co 002475 | ¥52.00 | ¥18.59 | −64% |
| Elite Material Co 2383 | 5,050 TWD | 787.47 TWD | −84% |
| Shengyi Technology Co 600183 | ¥137.33 | ¥66.42 | −52% |
| Celestica Inc CLS | $373.09 | $106.95 | −71% |
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Frequently asked questions
Is Carel Industries S.p.A (0YQA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €30.84 versus a price of €27.75, about +11% upside (undervalued).
What is the fair value of 0YQA?
Our model-based fair value for Carel Industries S.p.A is €30.84 (as of Sep 24, 2026), built from audited fundamentals. The current price: €27.75.
What is the quality score of 0YQA?
Carel Industries S.p.A has a Quality Score of 60/100. 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 Carel Industries S.p.A (0YQA)?
Our model-based price target is the fair value of €30.84 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario €21.42, optimistic scenario €38.55. It is a calculation from audited fundamentals, not an analyst target.
What is the Carel Industries S.p.A stock forecast for 2026?
Our models put fair value at €30.84, about +11% upside versus a price of €27.75 (undervalued). Cautious scenario €21.42, optimistic scenario €38.55. The calculation is refreshed regularly with new filings.
What is the revenue of Carel Industries S.p.A (0YQA)?
Carel Industries S.p.A reported trailing-twelve-month revenue of about €653M (latest available figure, as of Sep 24, 2026).
What growth is priced into Carel Industries S.p.A (0YQA)?
For today's price to be fair in a discounted-cash-flow model, Carel Industries S.p.A would have to grow free cash flow by +17.1 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0YQA use?
Our models discount Carel Industries S.p.A at 10.3 %: a base by market capitalisation (mid), damped by beta 1.00, country premium for United Kingdom. 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 Carel Industries S.p.A that is +17.1 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Carel Industries S.p.A (0YQA) delivered so far?
Over the past 5 years revenue at Carel Industries S.p.A grew +13.7 % a year. The price currently implies +17.1 % per year free-cash-flow growth a 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.
What is the free cash flow yield of Carel Industries S.p.A (0YQA)?
The free-cash-flow yield on the price is 3.45 %: that much free cash flow Carel Industries S.p.A produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Carel Industries S.p.A (0YQA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Carel Industries S.p.A it is €30.84 per share (as of Sep 24, 2026), against a price of €27.75. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Carel Industries S.p.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0YQA trades below its calculated fair value: price €27.75, fair value €30.84, a gap of about +11% (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 0YQA?
No. The price is what the market pays today (€27.75); the fair value is what the company's own numbers justify (€30.84). For Carel Industries S.p.A the two are €3.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Carel Industries S.p.A worth?
The market values Carel Industries S.p.A at about €3.1B (market capitalisation, as of Sep 24, 2026). Per share that is €27.75; our models calculate a fair value of €30.84 per share.
What do the bullish and bearish scenarios say about 0YQA?
Our models span a range for Carel Industries S.p.A: cautious scenario €21.42, base €30.84, optimistic €38.55 per share (as of Sep 24, 2026, price €27.75). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0YQA from its 52-week high?
Carel Industries S.p.A trades at €27.75, about 15% below its 52-week high of €32.54 and 37% above the low of €20.22 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €30.84 is for.
Which stocks are comparable to Carel Industries S.p.A?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Hon Hai Precision Industry 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 Carel Industries S.p.A stock attractive at the current price?
The data as of Sep 24, 2026: price €27.75, calculated fair value €30.84 (+11%), Quality Score 60/100, from 26 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 0YQA calculated?
We run Carel Industries S.p.A through 26 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 €30.84, 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. Carel Industries S.p.A currently trades 10 % 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 Carel Industries S.p.A (0YQA)?
The closing price on Oct 1, 2026 was €27.75. Our model-based fair value is €30.84, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Carel Industries S.p.A right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Carel Industries S.p.A (0YQA) come from?
Earnings per share at Carel Industries S.p.A grew −13.9 % a year from 2015 to 2025. Broken into its drivers: revenue per share −14.3 %, EBIT margin −1.8 %, tax rate +1.4 %, residual (interest, one-offs) +1.0 %. 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 Carel Industries S.p.A
How large is the market capitalisation of Carel Industries S.p.A (0YQA)?
The market capitalisation of Carel Industries S.p.A is €3.1B. 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/E ratio of Carel Industries S.p.A (0YQA)?
The price-to-earnings ratio of Carel Industries S.p.A is 0.5 (as of Aug 6, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Carel Industries S.p.A (0YQA)?
The price-to-sales ratio of Carel Industries S.p.A is 0.06 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Carel Industries S.p.A (0YQA)?
Earnings per share at Carel Industries S.p.A are €0.5220 (price ÷ EPS = P/E 0.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Carel Industries S.p.A (0YQA)?
The net margin of Carel Industries S.p.A is 11.7% (fiscal year 2025). 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 Carel Industries S.p.A (0YQA)?
The return on equity (ROE) of Carel Industries S.p.A is 17.3% (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 Carel Industries S.p.A (0YQA)?
On an EBIT basis the return on assets of Carel Industries 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 Carel Industries S.p.A (0YQA)?
The operating margin of Carel Industries S.p.A is 15.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Carel Industries S.p.A (0YQA)?
Revenue at Carel Industries S.p.A is growing +15.9% versus a year earlier (3y avg +4.9%). 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 Carel Industries S.p.A (0YQA)?
Earnings per share at Carel Industries S.p.A are growing +77.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Carel Industries S.p.A (0YQA) carry?
The net debt of Carel Industries S.p.A is €3.5M (fiscal year 2025, ≈ 0.0 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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