F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A $12.04, price $12.47, upside -3.5%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
19‑month range $9.44 – $12.47 · fair‑value band $10.16 – $13.65 · the $12.47 price screens above the $12.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. produces and markets colouring, design, modelling, writing, and painting objects in Europe, North America, Central/South America, Asia, and internationally.
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F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. produces and markets colouring, design, modelling, writing, and painting objects in Europe, North America, Central/South America, Asia, and internationally. It offers, crayons, modelling clays, chalks, oil colors, acrylics, watercolors, paints, and paper products for the fine arts, school, and leisure sectors. The company provides its products under the GIOTTO, DAS, LYRA, Canson, Maimeri, Daler-Rowney Lukas, Ticonderoga, Pacon, Strathmore, Princeton, and Arches brands. It sells its products through its branches and sales offices to wholesalers, office and school suppliers, supermarkets, retailers, distributors, promotional, B2B operators, and others. F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. was founded in 1920 and is headquartered in Pero, Italy.
Stock analysis
F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF) currently trades at $12.47, while our model-based Fair Value estimate is $12.04, implying the stock looks roughly 3.6% fairly valued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $13.75 per share, and 9 of the 22 models we run sit above the $12.47 price.
Bear case: the Earnings-Based group reads lowest at $2.83, and 13 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: $10.16 (bear) to $13.65 (bull), the price of $12.47 sits inside 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 54/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A reported revenue of €572M in FY2025 versus €653M in FY2021, a compound −3.3%/yr. Reported net income was €14.5M in FY2025, compounding −21.5%/yr from FY2021.
Key figures
Market cap $634M · P/E ratio 26.3 · P/S ratio 0.66 · EPS (TTM) $0.3800 · Net margin 2.5% · Return on equity 3.1% · Return on assets (EBIT) 6.6% · Operating margin 2.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at −3%, FILAF screens cheaper than that median.
Fair Value models
Bear $10.16Fair Value $12.04Bull $13.65
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 ($0.2780 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.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.
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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
−4.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.0%
Dividend (yield on the price)0.0%
Profit margin 2021 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% → 12%
Growth Forecast
Price in line with expectations
The price assumes more 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).
+4.0%
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.
+5.1%
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 +1.8% a year for the price and +2.8% for the forecasts.
Compare F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A with another stock
Price, fair value, quality and upside side by side.
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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.Business Equipment & Supplies · 75 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside−3% · Above median
Profitability
Return on equity (TTM)3% · Below median
Return on assets4% · Above median
Net margin (TTM)3% · Below median
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth−7% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.34× · Highest 25%
Valuation Multiplesvs Business Equipment & Supplies 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). "F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/FILAF
Frequently asked questions
Is F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $12.04 versus a price of $12.47, about −3% upside (fairly valued).
What is the fair value of FILAF?
Our model-based fair value for F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is $12.04 (as of Sep 23, 2026), built from audited fundamentals. The current price: $12.47.
What is the quality score of FILAF?
F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A has a Quality Score of 54/100. 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
Our model-based price target is the fair value of $12.04 (as of Sep 23, 2026) from 22 valuation models. Cautious scenario $10.16, optimistic scenario $13.65. It is a calculation from audited fundamentals, not an analyst target.
What is the F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A stock forecast for 2026?
Our models put fair value at $12.04, about −3% upside versus a price of $12.47 (fairly valued). Cautious scenario $10.16, optimistic scenario $13.65. The calculation is refreshed regularly with new filings.
What is the revenue of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A reported trailing-twelve-month revenue of about €566M (latest available figure, as of Sep 23, 2026).
What growth is priced into F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
For today's price to be fair in a discounted-cash-flow model, F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A would have to grow free cash flow by +4.0 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -3.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of FILAF use?
Our models discount F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A at 9.8 %: a base by market capitalisation (small), damped by beta 0.39, 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A that is +4.0 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF) delivered so far?
Over the past 4 years revenue at F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A grew -3.3 % a year. The price currently implies +4.0 % 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (+4.0 % 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
The free-cash-flow yield on the price is 8.53 %: that much free cash flow F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A it is $12.04 per share (as of Sep 23, 2026), against a price of $12.47. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, FILAF trades above its calculated fair value: price $12.47, fair value $12.04, a gap of about −3% (fairly valued). 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 FILAF?
No. The price is what the market pays today ($12.47); the fair value is what the company's own numbers justify ($12.04). For F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A the two are $0.4300 per share apart. That gap is exactly why we show both numbers side by side.
How much is F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A worth?
The market values F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A at about $634M (market capitalisation, as of Sep 23, 2026). Per share that is $12.47; our models calculate a fair value of $12.04 per share.
What do the bullish and bearish scenarios say about FILAF?
Our models span a range for F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A: cautious scenario $10.16, base $12.04, optimistic $13.65 per share (as of Sep 23, 2026, price $12.47). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FILAF?
F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A trades at a price-to-earnings ratio of 26.3 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $12.04 is built from several models across several years. Other multiples: P/B 1.1, P/S 1.1, EV/EBITDA 8.1.
How solid is the balance sheet of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
Balance-sheet figures for F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (as of Sep 23, 2026): return on equity 3.1%, debt of 0.34 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is FILAF from its 52-week high?
F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A trades at $12.47, at its 52-week high of $12.47 and 32% above the low of $9.46 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $12.04 is for.
Which stocks are comparable to F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A?
From the same area (Industrials) we also value GRG Banking Equipment Co, Shanghai M&G Stationery Inc, XGD Inc, DOMS Industries 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A stock attractive at the current price?
The data as of Sep 23, 2026: price $12.47, calculated fair value $12.04 (−3%), Quality Score 54/100, from 22 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 FILAF calculated?
We run F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A through 22 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 $12.04, 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 14.1 % above its aggregate fair value. F.I.L.A. - Fabbrica Italiana Lapis ed Affini 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
The closing price on Sep 18, 2026 was $12.47. Our model-based fair value is $12.04, about −3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A
How large is the market capitalisation of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
The market capitalisation of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is $634M. 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
The price-to-sales ratio of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is 0.66 (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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
Earnings per share at F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A are $0.3800 (price ÷ EPS = P/E 26.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
The net margin of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is 2.5% (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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
The return on equity (ROE) of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is 3.1% (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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
On an EBIT basis the return on assets of F.I.L.A. - Fabbrica Italiana Lapis ed Affini 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
The operating margin of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is 2.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
Revenue at F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is growing −7.3% versus a year earlier (3y avg −9.2%). 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 F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF)?
Earnings per share at F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A are growing −69.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (FILAF) carry?
The net debt of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A is €136M (fiscal year 2025, ≈ 2.9 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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Sep 23, 2026