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Buzzi S.p.A (BZU) Fair Value & Analysis

Basic Materials · IT · Market cap €8.2B

BS Buzzi S.p.A BZU · MI
Price€41.47
Fair Value€55.64
Upside+34.2%
Quality56/100
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Mixed Growth
Highly profitable · 20.4% net margin
Low debt · generates free cash flow
1.60% dividend yield
Ranks above peers (10/15)
Wide moat 71/100
Evidence: High Range €39.49 – €89.86 Share as image

Fair value as of: Jul 15, 2026

From 24 valuation models · updated 23 days ago

Share price −7.2% over the past month.

A solid business, screening 34% undervalued on our models.

What matters now

  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€39.49 to €89.86) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€53.65 €13.36 Fair Value €55.64 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range €13.36 – €53.65 · fair‑value band €39.49 – €89.86 · the €41.47 price screens below the €55.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Buzzi S.p.A (BZU) currently trades at €41.47, while our model-based Fair Value estimate is €55.64, implying the stock looks roughly 34.2% undervalued today. We read business quality at 56/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Buzzi S.p.A generated revenue of €4.5B at a net margin of 20.4%. Revenue grew 2.9% year over year. It earns a return on equity of 13.5%. The balance sheet holds a net cash position of €441M. Fundamentals as of Jul 15, 2026

Our scenario range runs from €39.49 (bear case) to €89.86 (bull case); at €41.47, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 23% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 34%, BZU screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €34.15 €43.56 €56.68 80
Residual Income €37.30 €45.51 €104.02 76
Rev-Margin DCF €42.13 €61.93 €83.51 74
All 24 models by family
DCF Models
FCF DCF €33.30 €43.23 €57.79 38
Owner Earnings €52.03 €68.81 €93.43 31
5Y Revenue Exit €42.13 €61.62 €86.71 39
5Y EBITDA Exit €52.70 €79.95 €111.67 41
5Y P/E Exit €58.25 €89.58 €122.07 38
10Y Revenue Exit €37.22 €53.57 €73.18 36
10Y EBITDA Exit €44.80 €65.52 €90.25 37
10Y P/E Exit €48.16 €71.80 €97.36 35
Earnings-Based
Graham-Dodd €35.30 €69.85 €87.59 54
EPV €43.27 €49.13 €54.18 59
Dividend Discount
Gordon GGM €6.27 €8.76 €11.22 70
DDM Multi-Stage €6.27 €8.66 €11.33 61
Multiples
P/E Multiple €77.87 €103.83 €129.79 63
P/S Multiple €47.74 €63.66 €79.57 58
P/B Multiple €66.19 €88.26 €110.32 55
EV/EBIT €74.50 €97.27 €120.05 53
EV/EBITDA €73.68 €96.18 €118.68 54
EV/Revenue €50.74 €69.84 €88.93 43
Asset-Based
NCAV (Graham) €19.97 €26.76 €39.93 50
Growth DCF
Growth DCF €34.15 €43.56 €56.68 80
Rev-Margin DCF €42.13 €61.93 €83.51 74
Economic Profit
Residual Income €37.30 €45.51 €104.02 76
ROIC Compounder €43.60 €50.89 €58.57 72
Growth Earnings
Growth-Adj P/E €56.42 €80.60 €104.78 68

Widest divergence: Multiples (€88.26) versus Dividend Discount (€8.66). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €4.5B
Revenue growth (YoY) +2.9%
Net margin 20.4%
Return on equity 13.5%
Free cash flow €489M FY2025
P/E ratio 9.1
More key figures
Operating margin 22.8%
EPS (TTM) €5.09
Dividend yield 1.6%
EPS growth (YoY) +3.2%
Net cash €441M FY2023

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 62 · Market factors (momentum, volatility) 36

Profitability 54
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 87
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Buzzi S.p.A., together with its subsidiaries, manufactures, distributes, and sells cement, ready-mix concrete, and natural aggregates. It has operations primarily in Italy, United States of America, Germany, Luxembourg, Netherlands, United Arab Emirates, Poland, Czech Republic and Slovakia, Brazil, Russia, Algeria, Slovenia, and Mexico.

Full company description

Buzzi S.p.A., together with its subsidiaries, manufactures, distributes, and sells cement, ready-mix concrete, and natural aggregates. It has operations primarily in Italy, United States of America, Germany, Luxembourg, Netherlands, United Arab Emirates, Poland, Czech Republic and Slovakia, Brazil, Russia, Algeria, Slovenia, and Mexico. The company was formerly known as Buzzi Unicem S.p.A. and changed its name to Buzzi S.p.A. in May 2023. The company was founded in 1872 and is headquartered in Casale Monferrato, Italy.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Buzzi S.p.A reported revenue of €4.5B in FY2025 versus €3.4B in FY2021, a compound +7.0%/yr. Reported net income was €921M in FY2025, compounding +14.2%/yr from FY2021.

Growth Quality 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€4.5B
Latest YoY
+4.8%
Avg. growth/yr (3Y)
+4.2%
Avg. growth/yr (5Y)
+7.0%
Avg. growth/yr (25Y)
−22.4%
Revenue +7.0%/yr
FY21 €3.4B
FY22 €4.0B
FY23 €4.3B
FY24 €4.3B
FY25 €4.5B
Net income +14.2%/yr
FY21 €542M
FY22 €459M
FY23 €967M
FY24 €942M
FY25 €921M

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Cite: Fair Value Calculator (2026). "Buzzi S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/BZU

Peer Group

Building Materials · 253 stocks

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.

Quality Score 56 · Above median
Fair Value upside +34% · Top 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth 3% · Above median
Dividend yield (TTM) 1.6% · Below median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 9.1× · Cheaper than 75% of peers
P/B 1.33× · Pricier than median
P/S (TTM) 2.09× · Pricier than 75% of peers
P/FCF 19.3× · Pricier than 75% of peers
EV/EBITDA 7.0× · Pricier than median
PEG 0.39× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 79 · sector 27
FUTURE 15 · sector 2
PAST 54 · sector 15
HEALTH 98 · sector 92
DIVIDEND 32 · sector 42

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Buzzi S.p.A (BZU) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of €55.64 versus a price of €41.47, about +34% (undervalued).
What is the fair value of BZU?
Our model-based fair value for Buzzi S.p.A is €55.64 (as of Jul 15, 2026), built from audited fundamentals. The current price is €41.47.
What is the quality score of BZU?
Buzzi S.p.A has a Quality Score of 56/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Buzzi S.p.A (BZU)?
Buzzi S.p.A reported trailing-twelve-month revenue of about €4.5B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of BZU?
The net profit margin of Buzzi S.p.A is about 20.4%, meaning it keeps roughly 20.4% of revenue as net income. Based on the latest reported figures.
Does Buzzi S.p.A pay a dividend?
Buzzi S.p.A currently shows a dividend yield of about 1.60% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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