H-Farm S.p.A (FARM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of H-Farm S.p.A stock €0.40, price €0.20, upside +100.0%, quality 52 out of 100. Rating: strongly undervalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €0.0867 – €0.2394 · fair‑value band €0.2820 – €0.5630 · the €0.2020 price screens below the €0.4040 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
Follow H-Farm S.p.A in your weekly email
Every Wednesday you see whether H-Farm S.p.A is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
H-FARM S.p.A. is venture capital firm specializing in pre-seed and seed stages, direct and fund of fund investments. Within direct investments, the firm focuses on incubation, start-up investments in the digital, blockchain, edutech, agritech, fashion and innovation sectors.
Show moreShow less
Within fund of fund investments, the firm focuses on venture capital funds. The firm also has an acceleration program and provides business consultancy. It makes investments in Italian companies. The firm takes balance sheet investments.
H-FARM S.p.A. was founded in January 2005 and is based in Roncade, Italy with additional offices in Milan, Italy, Rome, Italy and Turin, Italy.
Stock analysis
H-Farm S.p.A (FARM) currently trades at €0.2020, while our model-based Fair Value estimate is €0.4040, implying the stock looks roughly 50% undervalued today.
Show more
Valuation
Bull case: the Earnings-Based group reads highest at a median of €2.78 per share, and 6 of the 7 models we run sit above the €0.2020 price.
Bear case: the Asset-Based group reads lowest at €0.0800, and 1 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: €0.2820 (bear) to €0.5630 (bull), the price of €0.2020 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 52/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
H-Farm S.p.A reported revenue of €38.5M in FY2025 versus €60.1M in FY2021, a compound −10.5%/yr. Reported net income was €34.4M in FY2025.
Key figures
Market cap €46.7M Micro · P/E ratio 1.1 · P/S ratio 1.56 · EPS (TTM) €0.1900 · Net margin 125% · Return on equity 219% · Return on assets (EBIT) −13.9% (5-year average) · Operating margin −19.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 100%, FARM screens cheaper than that median.
Fair Value models
Bear€0.2820Fair Value €0.4040Bull€0.5630
Price €0.2020 · Upside +100.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.1629 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.Coverage ⓘCoverage = 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.
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.30/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.0%
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.
−14.6%
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.
−4.6%
Start year 2020 (pandemic). Over 10 years: +9.9% a year
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.
+26.0%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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.
−5.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.8%
Dividend (yield on the price)0.0%
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.−20% → −17%
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 587 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+100.0% · Top 25%
Profitability
Return on equity (12 months)219.0% · Top 25%
Return on assets57.1% · Top 25%
Net margin (12 months)125.1% · Top 25%
Operating margin (12 months)−19.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−44.1% · Bottom 25%
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Asset Management median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "H-Farm S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/FARM
Frequently asked questions
Is H-Farm S.p.A (FARM) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €0.4040 versus a price of €0.2020, about +100% upside (undervalued).
What is the fair value of FARM?
Our model-based fair value for H-Farm S.p.A is €0.4040 (as of Nov 7, 2026), built from audited fundamentals. The current price: €0.2020.
What is the quality score of FARM?
H-Farm S.p.A has a Quality Score of 52/100. 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 H-Farm S.p.A (FARM)?
Our model-based price target is the fair value of €0.4040 (as of Nov 7, 2026) from 7 valuation models. Cautious scenario €0.2820, optimistic scenario €0.5630. It is a calculation from audited fundamentals, not an analyst target.
What is the H-Farm S.p.A stock forecast for 2026?
Our models put fair value at €0.4040, about +100% upside versus a price of €0.2020 (undervalued). Cautious scenario €0.2820, optimistic scenario €0.5630. The calculation is refreshed regularly with new filings.
What is the revenue of H-Farm S.p.A (FARM)?
H-Farm S.p.A reported trailing-twelve-month revenue of about €29.8M (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of H-Farm S.p.A (FARM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For H-Farm S.p.A it is €0.4040 per share (as of Nov 7, 2026), against a price of €0.2020. It is the blended result of 7 valuation models in 5 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit).
Is H-Farm S.p.A stock overvalued or undervalued in 2026?
As of Nov 7, 2026, FARM trades below its calculated fair value: price €0.2020, fair value €0.4040, a gap of about +100% (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 FARM?
No. The price is what the market pays today (€0.2020); the fair value is what the company's own numbers justify (€0.4040). For H-Farm S.p.A the two are €0.2020 per share apart. That gap is exactly why we show both numbers side by side.
How much is H-Farm S.p.A worth?
The market values H-Farm S.p.A at about €46.7M (market capitalisation, as of Nov 7, 2026). Per share that is €0.2020; our models calculate a fair value of €0.4040 per share.
What do the bullish and bearish scenarios say about FARM?
Our models span a range for H-Farm S.p.A: cautious scenario €0.2820, base €0.4040, optimistic €0.5630 per share (as of Nov 7, 2026, price €0.2020). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FARM?
H-Farm S.p.A trades at a price-to-earnings ratio of 1.1 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €0.4040 is built from several models across several years. Other multiples: P/B 1.1, P/S 1.6.
How solid is the balance sheet of H-Farm S.p.A (FARM)?
Balance-sheet figures for H-Farm S.p.A (as of Nov 7, 2026): return on equity 219.0%, debt of 0.02 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is FARM from its 52-week high?
H-Farm S.p.A trades at €0.2020, about 15% below its 52-week high of €0.2390 and 42% above the low of €0.1419 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €0.4040 is for.
Which stocks are comparable to H-Farm S.p.A?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, 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 H-Farm S.p.A stock attractive at the current price?
The data as of Nov 7, 2026: price €0.2020, calculated fair value €0.4040 (+100%), Quality Score 52/100, from 7 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 FARM calculated?
We run H-Farm S.p.A through 7 models from 5 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of €0.4040 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. H-Farm S.p.A currently trades 50% 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 H-Farm S.p.A (FARM)?
The closing price on Nov 6, 2026 was €0.2020. Our model-based fair value is €0.4040, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with H-Farm S.p.A right now?
The price is below even our cautious bear case (€0.2820). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€0.2820 to €0.5630) leaves room in how you read the outcome.
Key figures of H-Farm S.p.A
How large is the market capitalisation of H-Farm S.p.A (FARM)?
The market capitalisation of H-Farm S.p.A is €46.7M. 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 H-Farm S.p.A (FARM)?
The price-to-sales ratio of H-Farm S.p.A is 1.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of H-Farm S.p.A (FARM)?
Earnings per share at H-Farm S.p.A are €0.1900 (price ÷ EPS = P/E 1.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of H-Farm S.p.A (FARM)?
The net margin of H-Farm S.p.A is 125% (last twelve months). 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 H-Farm S.p.A (FARM)?
The return on equity (ROE) of H-Farm S.p.A is 219% (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 H-Farm S.p.A (FARM)?
On an EBIT basis the return on assets of H-Farm S.p.A is −13.9% (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 H-Farm S.p.A (FARM)?
The operating margin of H-Farm S.p.A is −19.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at H-Farm S.p.A (FARM)?
Revenue at H-Farm S.p.A is growing −44.1% versus a year earlier (3y avg −14.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does H-Farm S.p.A (FARM) generate?
The free cash flow of H-Farm S.p.A is −€9.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does H-Farm S.p.A (FARM) hold?
H-Farm S.p.A holds more cash than debt, €18.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch H-Farm S.p.A in the live analysis
One click puts H-Farm S.p.A on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Thin data
Nov 7, 2026