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DBA Group (DBA) Fair Value & Analysis

Industrials · IT · Market cap €47.2M

DG DBA Group DBA · MI
Price€4.19
Fair Value€5.85
Upside+39.6%
Quality58/100
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Mixed Growth
Thin margins · 3.8% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Moderate moat 45/100
Evidence: High Range €2.72 – €7.31 Share as image

Fair value as of: Jul 15, 2026

From 25 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from €6.55 to €5.85 (−10.7%) since Jun 24, 2026. Share price −1.2% over the past month.

A solid business, screening 40% undervalued on our models.

What matters now

  • The model range is unusually wide (€2.72 to €7.31). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€4.60 €1.09 Fair Value €5.85 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 €1.09 – €4.60 · fair‑value band €2.72 – €7.31 · the €4.19 price screens below the €5.85 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

DBA Group (DBA) currently trades at €4.19, while our model-based Fair Value estimate is €5.85, implying the stock looks roughly 39.6% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials 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, DBA Group generated revenue of €129M at a net margin of 3.8%. Revenue grew 16.0% year over year. It earns a return on equity of 20.3%. Net debt stands at €8.4M. Fundamentals as of Jul 15, 2026

Our scenario range runs from €2.72 (bear case) to €7.31 (bull case); at €4.19, 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 11% below its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 40%, DBA 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 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
Highest evidence
Growth DCF €0.2900 €0.7200 80
Residual Income €1.90 €2.11 €2.87 76
ROIC Compounder €3.81 €4.91 €6.25 72
All 25 models by family
DCF Models
FCF DCF €0.3600 €0.9200 38
Owner Earnings €2.27 €4.19 €7.09 31
5Y Revenue Exit €3.01 €6.85 €12.35 39
5Y EBITDA Exit €5.22 €11.56 €19.92 41
5Y P/E Exit €2.09 €4.88 €8.22 38
10Y Revenue Exit €1.57 €4.45 €9.31 36
10Y EBITDA Exit €2.99 €7.46 €14.92 37
10Y P/E Exit €1.19 €3.19 €6.26 35
Earnings-Based
Graham-Dodd €1.89 €9.91 €13.72 54
Lynch FV €2.72 €3.89 €5.05 50
PEG = 1.0 €2.72 €3.89 €5.05 46
EPV €3.44 €3.92 €4.31 59
Dividend Discount
Gordon GGM €0.6300 €1.06 €1.38 70
DDM Multi-Stage €0.6300 €1.01 €1.14 61
Multiples
P/E Multiple €4.38 €5.85 €7.31 63
P/S Multiple €3.55 €4.73 €5.92 58
P/B Multiple €3.55 €4.73 €5.92 55
EV/EBIT €7.36 €10.00 €12.64 53
EV/EBITDA €9.50 €12.85 €16.20 54
EV/Revenue €5.10 €7.52 €9.94 43
Asset-Based
NCAV (Graham) €1.13 €1.52 €2.27 50
Growth DCF
Growth DCF €0.2900 €0.7200 80
Economic Profit
Residual Income €1.90 €2.11 €2.87 76
ROIC Compounder €3.81 €4.91 €6.25 72
Growth Earnings
Growth-Adj P/E €4.05 €5.79 €7.53 68

Widest divergence: Multiples (€5.85) versus Growth DCF (€0.2900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €129M
Revenue growth (YoY) +16.0%
Net margin 3.8%
Return on equity 20.3%
Free cash flow €610K FY2023
P/E ratio 9.6
More key figures
Operating margin 6.8%
EPS (TTM) €0.4500
EPS growth (YoY) +22.6%
Net debt €8.4M FY2023

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 59

Profitability 62
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 89
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

DBA Group S.p.A. provides consultancy, architecture, engineering, and project management services. It offers technical and technological services; consulting services; engineering services; architecture and project management office services, as well as develops project, asset and lifecycle; and software platforms.

Full company description

DBA Group S.p.A. provides consultancy, architecture, engineering, and project management services. It offers technical and technological services; consulting services; engineering services; architecture and project management office services, as well as develops project, asset and lifecycle; and software platforms. The company also provides professional, technical and management services; and information security, management and cyber security services. It serves real estate, telecommunications and media, transport and logistics, and other markets. The company was founded in 1991 and is based in Villorba, Italy.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

DBA Group reported revenue of €115M in FY2024 versus €69.1M in FY2020, a compound +13.7%/yr. Reported net income was €3.0M in FY2024.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
€115M
Latest YoY
+1.9%
Avg. growth/yr (3Y) 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.
+13.8%
Avg. growth/yr (5Y) 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.
+14.7%
Avg. growth/yr (9Y) 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.
+12.5%
Revenue +13.7%/yr
FY20 €69.1M
FY21 €78.3M
FY22 €83.4M
FY23 €113M
FY24 €115M
Net income
FY20 −€1.2M
FY21 −€720K
FY22 €617K
FY23 €4.0M
FY24 €3.0M

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Cite: Fair Value Calculator (2026). "DBA Group Fair Value". https://www.fairvalue-calculator.com/stock/DBA

Peer Group

Engineering & Construction · 839 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 58 · Above median
Fair Value upside +40% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 16% · Above median
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 9.6× · Cheaper than 75% of peers
P/B 2.20× · Pricier than median
P/S (TTM) 0.42× · Cheaper than median
P/FCF 89.4× · Pricier than 75% of peers
EV/EBITDA 4.5× · 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 86 · sector 16
FUTURE 80 · sector 17
PAST 81 · sector 26
HEALTH 88 · sector 94
DIVIDEND 0 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is DBA Group (DBA) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of €5.85 versus a price of €4.19, about +40% (undervalued).
What is the fair value of DBA?
Our model-based fair value for DBA Group is €5.85 (as of Jul 15, 2026), built from audited fundamentals. The current price is €4.19.
What is the quality score of DBA?
DBA Group has a Quality Score of 58/100. 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 revenue of DBA Group (DBA)?
DBA Group reported trailing-twelve-month revenue of about €129M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of DBA?
The net profit margin of DBA Group is about 3.8%, meaning it keeps roughly 3.8% of revenue as net income. Based on the latest reported figures.

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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