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FNM S.p.A (FNM) Fair Value & Analysis

Industrials · IT · Market cap €207M

Price€0.4700
Fair Value€0.4621
Upside-1.7%
Quality93/100
Evidence: High Range €0.3476 – €0.5780

Fair value as of: Jun 25, 2026

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Analysis

FNM S.p.A (FNM) currently trades at €0.4700, while our model-based Fair Value estimate is €0.4621 — implying the stock looks roughly 1.7% overvalued today. We read business quality at 93/100 (high quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

About the company

FNM S.p.A. engages in the sustainable mobility solutions in Italy. The company operates through the Freeways, Railway Infrastructure, Energy, RO.S.CO., and Mobility and Services segments. The company is involved in the design, construction, and management of motorways and the ring roads, terminal management activity, the renewable energy business, the development of new plants, the rental of rolling stock with an owned fleet in the public transport and freight transport sector, the sale of tickets, subcontracting activities, and car-sharing business. It also provides technical and administrative support services for infrastructure investments; and the management, maintenance, design, and construction services. The company was formerly known as Ferrovie Nord Milano. FNM S.p.A. was incorporated in 1877 and is headquartered in Milan, Italy. FNM S.p.A. operates as a subsidiary of Regione Lombardia.

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Frequently asked questions

Is FNM S.p.A (FNM) undervalued?
As of Jun 25, 2026, our model estimates a fair value of €0.4621 versus a price of €0.4700 — about −2% (overvalued). Model-based estimate, not financial advice.
What is the fair value of FNM?
Our 21-model fair value for FNM S.p.A is €0.4621 (as of Jun 25, 2026), built from audited fundamentals. The current price is €0.4700.
What is the quality score of FNM?
FNM S.p.A has a Quality Score of 93/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.