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3I Infrastructure PLC (3IN) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of 3I Infrastructure PLC £4.16, price £3.92, upside +6.1%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · GB · ISIN JE00BF5FX167

3I Broad data Sep 24, 2026

3I Infrastructure PLC

3IN · LSE

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value £4.16 · Fairly valued (+6%)
!Quality 53/100
!Mixed Growth (revenue 5y +10.0 %/yr)
✓Highly profitable · 72.1% net margin (TTM)
!Low debt · negative free cash flow
·3.44% dividend yield
!Mixed vs. peers (6/13)
!Moderate moat 59/100
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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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

£3.96 £2.49 Fair Value £4.16 Jul 2021 Sep 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 £2.49 – £3.96 · fair‑value band £3.12 – £5.20 · the £3.92 price screens below the £4.16 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

3i Infrastructure plc is an investment firm specializing in infrastructure investments. The firm invests in early stage assets, mature assets, middle markets, mid venture, acquisitions, and projects and privatizations undergoing a period of operational ramp-up. It may invest in junior or mezzanine debt in infrastructure businesses or assets.

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3i Infrastructure plc is an investment firm specializing in infrastructure investments. The firm invests in early stage assets, mature assets, middle markets, mid venture, acquisitions, and projects and privatizations undergoing a period of operational ramp-up. It may invest in junior or mezzanine debt in infrastructure businesses or assets. The firm primarily invests in core infrastructure companies and assets with a focus on the utilities, transportation, energies, social infrastructure and adjacent sectors; primary PPP with a focus on greenfield projects in education, transport, healthcare; public sector accommodation sectors and low-risk energy projects with a focus on wind, solar, offshore transmission in developed markets; and mid-market economic infrastructure with a focus on low-risk energy projects. It primarily invests in unquoted companies, but may also invest in listed companies. The firm seeks to invest across the world, but with an initial focus on Europe, North America, Asia, the United Kingdom. It seeks to invest more than £50 million ($69.33 million) for an individual investment. The firm typically invests between £5 million ($6.93 million) and £50 million ($69.33 million) in primary PPP sector and £50 million and £250 million ($346.66 million) in low-risk energy projects in mid-market economic infrastructure. The firm seeks board representation in its portfolio companies and in cases where it acquires a majority equity interest in a business, that interest may also be a controlling interest. It primarily exits its investments between 20 to 30 years. 3i Infrastructure plc was founded on January 16, 2007 and is based in St. Helier, Channel Islands with an additional office in London, United Kingdom.

Stock analysis

3I Infrastructure PLC (3IN) currently trades at £3.92, while our model-based Fair Value estimate is £4.16, implying the stock looks roughly 5.8% fairly valued today.

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Valuation

Bull case: the Multiples group reads highest at a median of £4.16 per share, and 3 of the 6 models we run sit above the £3.92 price.

Bear case: the Earnings-Based group reads lowest at £1.71, and 3 of the 6 models stay below the price. Evidence for this calculation is high.

Scenario range: £3.12 (bear) to £5.20 (bull), the price of £3.92 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 53/100 (solid quality), in the Financial Services sector.

Mixed Growth: Spin-off in 2026: revenue and profit before it include the divested business. Growth is measured afresh from 2026.

3I Infrastructure PLC reported revenue of £218M in FY2026 versus £412M in FY2022, a compound −14.7%/yr. Reported net income was £295M in FY2026, compounding −7.6%/yr from FY2022.

Key figures

Market cap 3.6B GBX · P/E ratio 12.3 · P/S ratio 16.6 · EPS (TTM) £0.3200 · Dividend yield 3.4% · Net margin 135% · Return on equity 8.1% · Return on assets (EBIT) 10.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 1% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 6%, 3IN screens cheaper than that median.

Fair Value models

Bear £3.12 Fair Value £4.16 Bull £5.20
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 2026 figures (about 6 months old). Earnings retained since then (£0.0897 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. 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
Residual Income £3.31 £3.52 £3.88 76
Graham-Dodd £2.17 £6.01 £7.89 65
P/E Multiple £3.12 £4.16 £5.20 63
All 6 models by family
Earnings-Based
Graham-Dodd £2.17 £6.01 £7.89 65
Lynch FV £1.20 £1.71 £2.23 61
Multiples
P/E Multiple £3.12 £4.16 £5.20 63
P/B Multiple £4.08 £5.44 £6.80 55
Asset-Based
NCAV (Graham) £2.03 £2.71 £4.05 54
Economic Profit
Residual Income £3.31 £3.52 £3.88 76

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Quality Score breakdown

Overall quality 53/100

Of which business quality 49 · Market factors (momentum, volatility) 74

Profitability 39
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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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. 55/100
Spin-off in 2026: revenue and profit before it include the divested business. Growth is measured afresh from 2026.
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.
−3.7%
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.
+10.0%
Start year 2020 (pandemic). Over 10 years: +16.9% a year
Revenue growth 17 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%
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.
+5.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.0%
Dividend (yield on the price)3.4%
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.2% vs 4%, steady
Profit margin 2014 to 2026 ⓘ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.94% → 149%
Start year 2021 (pandemic)

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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.Asset Management · 659 stocks

Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside +6% · Below median
Profitability
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 72% · Top 25%
Operating margin (TTM) 64% · Above median
Growth and dividend
Revenue growth −62% · Bottom 25%
Dividend yield (TTM) 3.4% · Below median
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (TTM) 12.3× · Cheaper than median
P/B 1.28× · Pricier than median
P/S (TTM) 11.71× · Priciest 25%
EV/EBITDA 15.6× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)41 · sector 55
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)32 · sector 22
HEALTH (low debt)99 · sector 95
DIVIDEND (yield)69 · sector 80

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $124.01 $52.88 −57%
Brookfield Corporation BN $37.85 $13.75 −64%
KKR & Co KKR $98.44 $19.97 −80%
Apollo Global Management, Inc APO $124.15 $229.64 +85%
State Street Corporation STT $180.25 $138.33 −23%
Ameriprise Financial, Inc AMP $512.37 $579.51 +13%
Ares Management Corporation ARES $124.72 $119.25 −4%
Northern Trust Corporation NTRS $173.40 $122.02 −30%
Raymond James Financial, Inc RJF $159.39 $312.27 +96%
T. Rowe Price Group TROW $104.17 $208.34 +100%

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Cite: Fair Value Calculator (2026). "3I Infrastructure PLC Fair Value". https://www.fairvalue-calculator.com/stock/3IN

Frequently asked questions

Is 3I Infrastructure PLC (3IN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of £4.16 versus a price of £3.92, about +6% upside (fairly valued).
What is the fair value of 3IN?
Our model-based fair value for 3I Infrastructure PLC is £4.16 (as of Sep 24, 2026), built from audited fundamentals. The current price: £3.92.
What is the quality score of 3IN?
3I Infrastructure PLC has a Quality Score of 53/100. 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 3I Infrastructure PLC (3IN)?
Our model-based price target is the fair value of £4.16 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario £3.12, optimistic scenario £5.20. It is a calculation from audited fundamentals, not an analyst target.
What is the 3I Infrastructure PLC stock forecast for 2026?
Our models put fair value at £4.16, about +6% upside versus a price of £3.92 (fairly valued). Cautious scenario £3.12, optimistic scenario £5.20. The calculation is refreshed regularly with new filings.
What is the revenue of 3I Infrastructure PLC (3IN)?
3I Infrastructure PLC reported trailing-twelve-month revenue of about £409M (latest available figure, as of Sep 24, 2026).
Does 3I Infrastructure PLC pay a dividend?
3I Infrastructure PLC currently shows a dividend yield of about 3.44% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of 3I Infrastructure PLC (3IN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For 3I Infrastructure PLC it is £4.16 per share (as of Sep 24, 2026), against a price of £3.92. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is 3I Infrastructure PLC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3IN trades below its calculated fair value: price £3.92, fair value £4.16, a gap of about +6% (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 3IN?
No. The price is what the market pays today (£3.92); the fair value is what the company's own numbers justify (£4.16). For 3I Infrastructure PLC the two are £0.2400 per share apart. That gap is exactly why we show both numbers side by side.
How much is 3I Infrastructure PLC worth?
The market values 3I Infrastructure PLC at about 3.6B GBX (market capitalisation, as of Sep 24, 2026). Per share that is £3.92; our models calculate a fair value of £4.16 per share.
What do the bullish and bearish scenarios say about 3IN?
Our models span a range for 3I Infrastructure PLC: cautious scenario £3.12, base £4.16, optimistic £5.20 per share (as of Sep 24, 2026, price £3.92). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3IN?
3I Infrastructure PLC trades at a price-to-earnings ratio of 12.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £4.16 is built from several models across several years. Other multiples: P/B 1.3, P/S 11.7, EV/EBITDA 15.6.
How solid is the balance sheet of 3I Infrastructure PLC (3IN)?
Balance-sheet figures for 3I Infrastructure PLC (as of Sep 24, 2026): return on equity 8.1%, debt of 0.03 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 3IN from its 52-week high?
3I Infrastructure PLC trades at £3.92, about 1% below its 52-week high of £3.96 and 22% above the low of £3.20 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of £4.16 is for.
Which stocks are comparable to 3I Infrastructure PLC?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, 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 3I Infrastructure PLC stock attractive at the current price?
The data as of Sep 24, 2026: price £3.92, calculated fair value £4.16 (+6%), Quality Score 53/100, from 6 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 3IN calculated?
We run 3I Infrastructure PLC through 6 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 £4.16, 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 14.1 % above its aggregate fair value. 3I Infrastructure PLC currently trades 6 % 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 3I Infrastructure PLC (3IN)?
The closing price on Sep 23, 2026 was £3.92. Our model-based fair value is £4.16, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with 3I Infrastructure PLC right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of 3I Infrastructure PLC (3IN) come from?
Earnings per share at 3I Infrastructure PLC grew +11.1 % a year from 2013 to 2024. Broken into its drivers: revenue per share +20.1 %, EBIT margin −7.1 %, tax rate +4.1 %, residual (interest, one-offs) −4.4 %. 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 3I Infrastructure PLC

How large is the market capitalisation of 3I Infrastructure PLC (3IN)?
The market capitalisation of 3I Infrastructure PLC is 3.6B GBX. 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 3I Infrastructure PLC (3IN)?
The price-to-sales ratio of 3I Infrastructure PLC is 16.6 (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 3I Infrastructure PLC (3IN)?
Earnings per share at 3I Infrastructure PLC are £0.3200 (price ÷ EPS = P/E 12.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of 3I Infrastructure PLC (3IN)?
The dividend yield of 3I Infrastructure PLC is 3.4% (payout 42.2%). 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 3I Infrastructure PLC (3IN)?
The net margin of 3I Infrastructure PLC is 135% (fiscal year 2026). 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 3I Infrastructure PLC (3IN)?
The return on equity (ROE) of 3I Infrastructure PLC is 8.1% (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 3I Infrastructure PLC (3IN)?
On an EBIT basis the return on assets of 3I Infrastructure PLC is 10.0% (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 3I Infrastructure PLC (3IN)?
The operating margin of 3I Infrastructure PLC is 63.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at 3I Infrastructure PLC (3IN)?
Revenue at 3I Infrastructure PLC is growing −62.1% versus a year earlier (3y avg −19.2%). 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 3I Infrastructure PLC (3IN)?
Earnings per share at 3I Infrastructure PLC are growing −77.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does 3I Infrastructure PLC (3IN) generate?
The free cash flow of 3I Infrastructure PLC is −£32.0M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does 3I Infrastructure PLC (3IN) carry?
The net debt of 3I Infrastructure PLC is £531M (fiscal year 2026). 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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