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Amplifon S.p.A (AMFPF) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Amplifon S.p.A $8.67, price $11.21, upside -22.7%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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AS
Broad data
Sep 24, 2026
Broad data
Sep 24, 2026
Amplifon S.p.A
AMFPF · USOvervalued / MonitorQuality is not strong enough to offset the price risk.
!Fair value $8.67 · Overvalued (−22.7%)
!Quality 56/100
!Mixed Growth (revenue 3y +4.2 %/yr)
!Thin margins · 2.9% net margin (TTM)
✓Moderate debt · generates free cash flow
✓2.6% dividend yield · Sustainable
!Narrow moat 38/100
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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
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
60‑month range $6.78 – $49.56 · fair‑value band $6.50 – $10.84 · the $11.21 price screens above the $8.67 fair value. As of Sep 24, 2026.
Company profile
Amplifon S.p.A. distributes hearing solutions and the fitting of customized products that helps people to rediscover various emotions of sound in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.
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Amplifon S.p.A. distributes hearing solutions and the fitting of customized products that helps people to rediscover various emotions of sound in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates Ampli-care, a platform to deliver audiological care experience; and Amplifon App to manage the device functions in real-time directly from smartphone. The company also offers Ampli-power and Ampli-mini hearing devices. Amplifon S.p.A. was founded in 1950 and is headquartered in Milan, Italy.
Stock analysis
Amplifon S.p.A (AMFPF) currently trades at $11.21, while our model-based Fair Value estimate is $8.67, 22.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $14.44 per share, and 11 of the 24 models we run sit above the $11.21 price.
Bear case: the Asset-Based group reads lowest at $2.84, and 13 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $6.50 (bear) to $10.84 (bull), the price of $11.21 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 56/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Amplifon S.p.A reported revenue of €2.4B in FY2025 versus €1.9B in FY2021, a compound +5.3%/yr. Reported net income was €91.3M in FY2025, compounding −12.8%/yr from FY2021.
Key figures
Market cap $3.2B · P/E ratio 31.1 · P/S ratio 1.19 · EPS (TTM) $0.3600 · Dividend yield 2.6% · Net margin 3.8% · Return on equity 6.2% · Return on assets (EBIT) 6.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 22% above its 52-week low.
For context, the median of 10 Healthcare peers we cover trades at 37% fair-value upside, at −23%, AMFPF screens richer than that median.
Fair Value models
Bear $6.50
Fair Value $8.67
Bull $10.84
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 ($0.0529 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
$12.97
$22.04
$35.71
78
Growth DCF
$13.11
$20.95
$31.94
77
Residual Income
$3.60
$3.90
$4.62
76
All 24 models by family
DCF Models
FCF DCF
$12.97
$22.04
$35.71
78
Owner Earnings
$12.58
$21.43
$34.76
75
5Y Revenue Exit
$7.64
$12.84
$19.35
72
5Y EBITDA Exit
$16.11
$29.01
$44.28
74
5Y P/E Exit
$6.45
$10.55
$14.79
70
10Y Revenue Exit
$9.23
$14.44
$21.33
66
10Y EBITDA Exit
$14.78
$25.54
$40.30
67
10Y P/E Exit
$8.71
$12.87
$17.87
64
Earnings-Based
Graham-Dodd
$2.64
$9.05
$12.15
64
Lynch FV
$2.09
$2.98
$3.88
61
PEG = 1.0
$2.09
$2.98
$3.88
57
EPV
$2.52
$3.37
$4.10
74
Multiples
P/E Multiple
$6.40
$8.53
$10.66
63
P/S Multiple
$4.94
$6.59
$8.24
58
P/B Multiple
$4.94
$6.59
$8.24
55
EV/EBIT
$8.20
$11.90
$15.59
65
EV/EBITDA
$20.29
$28.01
$35.73
67
EV/Revenue
$5.03
$8.42
$11.81
52
Asset-Based
NCAV (Graham)
$2.12
$2.84
$4.24
54
Growth DCF
Growth DCF
$13.11
$20.95
$31.94
77
Rev-Margin DCF
$7.64
$12.97
$19.31
72
Economic Profit
Residual Income
$3.60
$3.90
$4.62
76
ROIC Compounder
$2.52
$3.37
$4.10
72
Growth Earnings
Growth-Adj P/E
$5.45
$7.78
$10.12
67
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Set up alert →Quality Score breakdown
Overall quality
56/100
Of which business quality 56 · Market factors (momentum, volatility) 39
Profitability
39
Margins and returns on capital today
Quality Growth
32
Are margins and returns improving?
Cashflow
71
Earnings quality: real cash, not paper profit
Fin. Strength
29
Balance sheet, leverage, solvency risk
Investment
90
Disciplined investing over empire-building
Low Volatility
33
Calm price path (market factor)
Momentum
7
Price trend over the last 3–12 months (market factor)
52W Momentum
98
Distance to the 52-week high (market factor)
Net Issuance
95
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.
53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.6%
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.
+4.2%
Revenue growth 12 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.
+9.3%
’13
’14
’15
’16
’17
’18
’19
’21
’22
’23
’24
’25
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. Basis: EBIT basis.
−0.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.0%
Dividend (yield on the price)2.6%
Profit margin 2019 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.12% → 9%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−1.8%
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.
+4.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −3.9% a year for the price and +2.4% for the forecasts.
Forecast 2026 (sales)+1.2%
Forecast 2027 (sales)+6.3%
Projected 2028 (sales)+5.7%
Projected 2029 (sales)+5.2%
Projected 2030 (sales)+4.7%
AMFPF screens overvalued: fair value 23% below the price. Compare with McKesson Corporation →
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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.Medical Distribution · 76 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation Multiplesvs Medical Distribution median · lower = cheaper
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA 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 Medical Distribution stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| McKesson Corporation MCK | $864.82 | $822.74 | −5% |
| Cencora, Inc COR | $309.78 | $215.20 | −31% |
| Cardinal Health, Inc CAH | $220.29 | $162.84 | −26% |
| Henry Schein, Inc HSIC | $86.37 | $76.77 | −11% |
| Shanghai Pharmaceuticals Holding 601607 | ¥16.02 | ¥42.67 | +166% |
| Sinopharm Group 1099 | HK$14.88 | HK$55.77 | +275% |
| Galenica AG GALE | CHF 82.55 | CHF 61.79 | −25% |
| Guangzhou Baiyunshan Pharmaceutical Holdings 600332 | ¥19.39 | ¥26.64 | +37% |
| Jointown Pharmaceutical Group 600998 | ¥5.05 | ¥9.84 | +95% |
| China National Medicines Corporation 600511 | ¥25.80 | ¥58.47 | +127% |
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Frequently asked questions
Is Amplifon S.p.A (AMFPF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $8.67 versus the last price from Sep 25, 2026 of $11.21, about −23% upside (overvalued).
What is the fair value of AMFPF?
Our model-based fair value for Amplifon S.p.A is $8.67 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $11.21.
What is the quality score of AMFPF?
Amplifon S.p.A has a Quality Score of 56/100. 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 Amplifon S.p.A (AMFPF)?
Our model-based price target is the fair value of $8.67 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $6.50, optimistic scenario $10.84. It is a calculation from audited fundamentals, not an analyst target.
What is the Amplifon S.p.A stock forecast for 2026?
Our models put fair value at $8.67, about −23% upside versus the last price from Sep 25, 2026 of $11.21 (overvalued). Cautious scenario $6.50, optimistic scenario $10.84. The calculation is refreshed regularly with new filings.
What is the revenue of Amplifon S.p.A (AMFPF)?
Amplifon S.p.A reported trailing-twelve-month revenue of about €2.4B (latest available figure, as of Sep 24, 2026).
Does Amplifon S.p.A pay a dividend?
Amplifon S.p.A currently shows a dividend yield of about 2.59% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Amplifon S.p.A (AMFPF)?
For today's price to be fair in a discounted-cash-flow model, Amplifon S.p.A would have to grow free cash flow by -1.8 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 6 years revenue grew +5.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of AMFPF use?
Our models discount Amplifon S.p.A at 9.6 %: a base by market capitalisation (mid), damped by beta 0.94, country premium for USA. 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 Amplifon S.p.A that is -1.8 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Amplifon S.p.A (AMFPF) delivered so far?
Over the past 6 years revenue at Amplifon S.p.A grew +5.6 % a year. The price currently implies -1.8 % 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.
How fast is the sector of Amplifon S.p.A (AMFPF) growing?
The median revenue growth in the sector is +1.7 % a year. That is the yardstick for the growth priced into Amplifon S.p.A (-1.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Amplifon S.p.A (AMFPF)?
The free-cash-flow yield on the price is 13.53 %: that much free cash flow Amplifon S.p.A produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Amplifon S.p.A (AMFPF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Amplifon S.p.A it is $8.67 per share (as of Sep 24, 2026), against a price of $11.21. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Amplifon S.p.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, AMFPF trades above its calculated fair value: price $11.21, fair value $8.67, a gap of about −23% (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 AMFPF?
No. The price is what the market pays today ($11.21); the fair value is what the company's own numbers justify ($8.67). For Amplifon S.p.A the two are $2.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Amplifon S.p.A worth?
The market values Amplifon S.p.A at about $3.2B (market capitalisation, as of Sep 24, 2026). Per share that is $11.21; our models calculate a fair value of $8.67 per share.
What do the bullish and bearish scenarios say about AMFPF?
Our models span a range for Amplifon S.p.A: cautious scenario $6.50, base $8.67, optimistic $10.84 per share (as of Sep 24, 2026, price $11.21). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AMFPF?
Amplifon S.p.A trades at a price-to-earnings ratio of 31.1 (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 $8.67 is built from several models across several years. Other multiples: PEG 0.4, P/B 3.2, P/S 1.3, EV/EBITDA 11.1.
What is the PEG ratio of AMFPF?
The PEG ratio of Amplifon S.p.A is 0.43 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Amplifon S.p.A (AMFPF)?
Balance-sheet figures for Amplifon S.p.A (as of Sep 24, 2026): return on equity 6.2%, debt of 0.99 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is AMFPF from its 52-week high?
Amplifon S.p.A trades at $11.21, about 36% below its 52-week high of $17.56 and 22% above the low of $9.18 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $8.67 is for.
Which stocks are comparable to Amplifon S.p.A?
From the same area (Healthcare) we also value McKesson Corporation, Cencora, Inc, Cardinal Health, Inc, Henry Schein, 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 Amplifon S.p.A stock attractive at the current price?
The data as of Sep 24, 2026: price $11.21, calculated fair value $8.67 (−23%), Quality Score 56/100, from 24 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 AMFPF calculated?
We run Amplifon S.p.A through 24 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 $8.67, 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. Amplifon 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 Amplifon S.p.A (AMFPF)?
The latest price we hold is from Sep 25, 2026 and stands at $11.21. Our model-based fair value is $8.67, about −23% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Amplifon S.p.A right now?
The price sits above even our optimistic bull case ($10.84). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Amplifon S.p.A
How large is the market capitalisation of Amplifon S.p.A (AMFPF)?
The market capitalisation of Amplifon S.p.A is $3.2B. 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 Amplifon S.p.A (AMFPF)?
The price-to-sales ratio of Amplifon S.p.A is 1.19 (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 Amplifon S.p.A (AMFPF)?
Earnings per share at Amplifon S.p.A are $0.3600 (price ÷ EPS = P/E 31.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Amplifon S.p.A (AMFPF)?
The dividend yield of Amplifon S.p.A is 2.6% (payout 80.6%). 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 Amplifon S.p.A (AMFPF)?
The net margin of Amplifon S.p.A is 3.8% (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 Amplifon S.p.A (AMFPF)?
The return on equity (ROE) of Amplifon S.p.A is 6.2% (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 Amplifon S.p.A (AMFPF)?
On an EBIT basis the return on assets of Amplifon S.p.A is 6.6% (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 Amplifon S.p.A (AMFPF)?
The operating margin of Amplifon S.p.A is 11.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Amplifon S.p.A (AMFPF)?
Revenue at Amplifon S.p.A is growing −1.4% versus a year earlier (3y avg +4.2%). 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 Amplifon S.p.A (AMFPF)?
Earnings per share at Amplifon S.p.A are growing −68.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Amplifon S.p.A (AMFPF) carry?
The net debt of Amplifon S.p.A is €1.0B (fiscal year 2025, ≈ 3.5 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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