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Buzzi S.p.A (BZZUF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Buzzi S.p.A $67.64, price $45.00, upside +50.3%, quality 67 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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Basic Materials · US · ISIN IT0001347308

BS Buzzi S.p.A logo Broad data Sep 23, 2026

Buzzi S.p.A

BZZUF · US

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value $67.64 · Strongly undervalued (+50.3%)
✓Quality 67/100
!Mixed Growth (revenue 5y +7.0 %/yr)
✓Highly profitable · 20.4% net margin (TTM)
✓Low debt · generates free cash flow
✓1.6% dividend yield · Well covered
✓Wide moat 67/100

What runs behind every stock

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

Price vs Fair Value

$62.03 $12.75 Fair Value $67.64 Aug 2016 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 23, 2026.

How to read this chart

60‑month range $12.75 – $62.03 · fair‑value band $47.08 – $93.19 · the $45.00 price screens below the $67.64 fair value. As of Sep 23, 2026.

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Company profile

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.

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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.

Stock analysis

Buzzi S.p.A (BZZUF) currently trades at $45.00, while our model-based Fair Value estimate is $67.64, implying the stock looks roughly 33.5% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $85.07 per share, and 20 of the 23 models we run sit above the $45.00 price.

Bear case: the Asset-Based group reads lowest at $30.17, and 3 of the 23 models stay below the price. Evidence for this calculation is high.

Scenario range: $47.08 (bear) to $93.19 (bull), the price of $45.00 sits below 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 67/100 (solid quality), in the Basic Materials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

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.

Key figures

Market cap $8.1B · P/E ratio 7.6 · P/S ratio 1.56 · EPS (TTM) $5.90 · Dividend yield 1.6% · Net margin 20.4% · Return on equity 13.5% · Return on assets (EBIT) 10.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).

What moves the price

The share trades about 27% below its 52-week high and at its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −46% fair-value upside, at 50%, BZZUF screens cheaper than that median.

Fair Value models

Bear $47.08 Fair Value $67.64 Bull $93.19
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 ($3.93 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 $40.91 $55.32 $75.13 81
Growth DCF $41.74 $54.99 $72.37 80
Owner Earnings $62.79 $86.49 $119.07 77
All 23 models by family
DCF Models
FCF DCF $40.91 $55.32 $75.13 81
Owner Earnings $62.79 $86.49 $119.07 77
5Y Revenue Exit $37.37 $52.40 $70.84 73
5Y EBITDA Exit $51.75 $78.08 $107.64 75
5Y P/E Exit $60.54 $93.77 $127.13 71
10Y Revenue Exit $37.59 $51.09 $67.72 68
10Y EBITDA Exit $47.23 $68.10 $94.04 69
10Y P/E Exit $52.60 $78.48 $107.97 64
Earnings-Based
Graham-Dodd $39.80 $96.15 $124.20 65
PEG = 1.0 $17.00 $24.29 $31.58 57
EPV $50.18 $57.00 $62.89 74
Multiples
P/E Multiple $74.63 $99.50 $124.38 63
P/S Multiple $32.30 $43.06 $53.83 58
P/B Multiple $74.63 $99.50 $124.38 55
EV/EBIT $66.93 $86.92 $106.91 66
EV/EBITDA $65.54 $85.07 $104.59 67
EV/Revenue $37.11 $50.03 $62.95 54
Asset-Based
NCAV (Graham) $22.51 $30.17 $45.02 54
Growth DCF
Growth DCF $41.74 $54.99 $72.37 80
Rev-Margin DCF $37.37 $52.79 $69.49 73
Economic Profit
Residual Income $42.35 $49.72 $65.53 76
ROIC Compounder $50.95 $60.51 $71.30 72
Growth Earnings
Growth-Adj P/E $57.90 $82.72 $107.54 67

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Quality Score breakdown

Overall quality 67/100

Of which business quality 66 · Market factors (momentum, volatility) 51

Profitability 58
Margins and returns on capital today
Quality Growth 49
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 29
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 93
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. 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+4.8%
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.
+4.2%
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.
+7.0%
Start year 2020 (pandemic). Over 10 years: +5.4% a year
Revenue growth 22 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.
+5.2%
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.
+14.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.3%
Dividend (yield on the price)1.6%
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.13.3% vs 24.4%, slowing
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.23% → 20%
Start year 2020 (pandemic)

Growth Forecast

Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+1.5%
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.
+3.6%
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 −0.7% a year for the price and +1.4% for the forecasts.
Forecast 2026 (sales)+2.3%
Forecast 2027 (sales)+4.4%
Projected 2028 (sales)+4.1%
Projected 2029 (sales)+3.8%
Projected 2030 (sales)+3.5%

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Values & ESG

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Grasim Industries Limited GRASIM ₹3,191 ₹1,245 −61%
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James Hardie Industries plc JHX A$36.98 A$8.06 −78%
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Cite: Fair Value Calculator (2026). "Buzzi S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/BZZUF

Frequently asked questions

Is Buzzi S.p.A (BZZUF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $67.64 versus the last price from Sep 25, 2026 of $45.00, about +50% upside (undervalued).
What is the fair value of BZZUF?
Our model-based fair value for Buzzi S.p.A is $67.64 (as of Sep 23, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $45.00.
What is the quality score of BZZUF?
Buzzi S.p.A has a Quality Score of 67/100. 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 Buzzi S.p.A (BZZUF)?
Our model-based price target is the fair value of $67.64 (as of Sep 23, 2026) from 23 valuation models. Cautious scenario $47.08, optimistic scenario $93.19. It is a calculation from audited fundamentals, not an analyst target.
What is the Buzzi S.p.A stock forecast for 2026?
Our models put fair value at $67.64, about +50% upside versus the last price from Sep 25, 2026 of $45.00 (undervalued). Cautious scenario $47.08, optimistic scenario $93.19. The calculation is refreshed regularly with new filings.
What is the revenue of Buzzi S.p.A (BZZUF)?
Buzzi S.p.A reported trailing-twelve-month revenue of about €4.5B (latest available figure, as of Sep 23, 2026).
Does Buzzi S.p.A pay a dividend?
Buzzi S.p.A currently shows a dividend yield of about 1.56% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Buzzi S.p.A (BZZUF)?
For today's price to be fair in a discounted-cash-flow model, Buzzi S.p.A would have to grow free cash flow by +1.5 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of BZZUF use?
Our models discount Buzzi S.p.A at 9.9 %: a base by market capitalisation (mid), damped by beta 1.05, 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 Buzzi S.p.A that is +1.5 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Buzzi S.p.A (BZZUF) delivered so far?
Over the past 5 years revenue at Buzzi S.p.A grew +7.0 % a year. The price currently implies +1.5 % 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 Buzzi S.p.A (BZZUF) growing?
The median revenue growth in the sector is +14.6 % a year. That is the yardstick for the growth priced into Buzzi S.p.A (+1.5 % 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 Buzzi S.p.A (BZZUF)?
The free-cash-flow yield on the price is 6.76 %: that much free cash flow Buzzi S.p.A produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Buzzi S.p.A (BZZUF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Buzzi S.p.A it is $67.64 per share (as of Sep 23, 2026), against a price of $45.00. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Buzzi S.p.A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, BZZUF trades below its calculated fair value: price $45.00, fair value $67.64, a gap of about +50% (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 BZZUF?
No. The price is what the market pays today ($45.00); the fair value is what the company's own numbers justify ($67.64). For Buzzi S.p.A the two are $22.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Buzzi S.p.A worth?
The market values Buzzi S.p.A at about $8.1B (market capitalisation, as of Sep 23, 2026). Per share that is $45.00; our models calculate a fair value of $67.64 per share.
What do the bullish and bearish scenarios say about BZZUF?
Our models span a range for Buzzi S.p.A: cautious scenario $47.08, base $67.64, optimistic $93.19 per share (as of Sep 23, 2026, price $45.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is BZZUF from its 52-week high?
Buzzi S.p.A trades at $45.00, about 27% below its 52-week high of $62.03 and at the low of $44.91 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $67.64 is for.
Which stocks are comparable to Buzzi S.p.A?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, UltraTech Cement Limited, 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 Buzzi S.p.A stock attractive at the current price?
The data as of Sep 23, 2026: price $45.00, calculated fair value $67.64 (+50%), Quality Score 67/100, from 23 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 BZZUF calculated?
We run Buzzi S.p.A through 23 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 $67.64, 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. Buzzi S.p.A currently trades 33 % 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 Buzzi S.p.A (BZZUF)?
The latest price we hold is from Sep 25, 2026 and stands at $45.00. Our model-based fair value is $67.64, about +50% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Buzzi S.p.A right now?
The price is below even our cautious bear case ($47.08). The market is more pessimistic than our downside scenario. Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($47.08 to $93.19) leaves room in how you read the outcome.
Where does the earnings growth of Buzzi S.p.A (BZZUF) come from?
Earnings per share at Buzzi S.p.A grew +26.7 % a year from 2014 to 2024. Broken into its drivers: revenue per share +7.6 %, EBIT margin +11.5 %, tax rate +3.6 %, residual (interest, one-offs) +1.8 %. 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 Buzzi S.p.A

How large is the market capitalisation of Buzzi S.p.A (BZZUF)?
The market capitalisation of Buzzi S.p.A is $8.1B. 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 Buzzi S.p.A (BZZUF)?
The price-to-earnings ratio of Buzzi S.p.A is 7.6. 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 Buzzi S.p.A (BZZUF)?
The price-to-sales ratio of Buzzi S.p.A is 1.56 (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 Buzzi S.p.A (BZZUF)?
Earnings per share at Buzzi S.p.A are $5.90 (price ÷ EPS = P/E 7.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Buzzi S.p.A (BZZUF)?
The dividend yield of Buzzi S.p.A is 1.6% (payout 11.9%). 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 Buzzi S.p.A (BZZUF)?
The net margin of Buzzi S.p.A is 20.4% (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 Buzzi S.p.A (BZZUF)?
The return on equity (ROE) of Buzzi S.p.A is 13.5% (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 Buzzi S.p.A (BZZUF)?
On an EBIT basis the return on assets of Buzzi S.p.A is 10.5% (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 Buzzi S.p.A (BZZUF)?
The operating margin of Buzzi S.p.A is 22.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Buzzi S.p.A (BZZUF)?
Revenue at Buzzi S.p.A is growing +2.9% 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 Buzzi S.p.A (BZZUF)?
Earnings per share at Buzzi S.p.A are growing +3.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Buzzi S.p.A (BZZUF) hold?
Buzzi S.p.A holds more cash than debt, €803M net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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