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Immsi S.p.A (IMS) Fair Value & Analysis

Consumer Cyclical · IT · Market cap €183M · ISIN IT0001413837

What is Immsi S.p.A really worth?

IS Immsi S.p.A IMS · MI
Price€0.5030
Fair Value€3.05
Upside+506.4%
Quality45/100

Below-average quality, trading 84% below our fair value of €3.05.

As of Aug 20, 2026, the fair value of Immsi S.p.A is €3.05 per share against a price of €0.5030, so the fair value sits 506% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue 5y +3.0 %/yr)
!Loss over the last twelve months · 0.0% net margin · fiscal year 2025 0.0%
!High debt · negative free cash flow
!Mixed vs. peers (6/13)
!Narrow moat 24/100
!Evidence only low, so the estimate is less certain
!Weak on past: 10 out of 100
Evidence: Low Range €1.57 – €3.05

Fair value as of: Aug 20, 2026

From 13 valuation models · updated 17 days ago

Share price −3.8% over the past month.

What runs behind every stock

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

What matters now

  • The price is below even our cautious bear case (€1.57). 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 (45/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€1.57 to €3.05) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€0.6900 €0.2774 Fair Value €3.05 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range €0.2774 – €0.6900 · fair‑value band €1.57 – €3.05 · the €0.5030 price screens below the €3.05 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Immsi S.p.A (IMS) currently trades at €0.5030, while our model-based Fair Value estimate is €3.05, implying the stock looks roughly 83.5% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Multiples group reads highest at a median of €2.64 per share, and 3 of the 10 models we run sit above the €0.5030 price. Bear case: the Asset-Based group reads lowest at €0.3800, and 7 of the 10 models stay below the price. Evidence for this calculation is low.

Trailing-twelve-month revenue stands at €1.6B. Revenue declined 4.2% year over year. It earns a return on equity of 2.6%. Net debt stands at €974M. Fundamentals as of Aug 20, 2026

Our scenario range runs from €1.57 (bear case) to €3.05 (bull case); at €0.5030, the current price sits below 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 29% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −17% fair-value upside, at 506%, IMS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Residual Income best evidence €0.3500 €0.3100 €0.1700 76
Gordon GGM €0.0800 €0.1000 €0.1200 69
EPV €0.1500 €0.3000 68
All 13 models by family
Earnings-Based
EPV €0.1500 €0.3000 68
Dividend Discount
Gordon GGM €0.0800 €0.1000 €0.1200 69
DDM Multi-Stage €0.0800 €0.1000 €0.1300 67
Multiples
P/E Multiple €0.0100 €0.0100 60
P/S Multiple €0.0100 53
P/B Multiple €0.0100 51
EV/EBIT €2.80 €4.28 €5.76 65
EV/EBITDA €5.37 €7.70 €10.03 67
EV/Revenue €1.36 €2.64 €3.92 51
Asset-Based
NCAV (Graham) €0.2900 €0.3800 €0.5700 54
Economic Profit
Residual Income best evidence €0.3500 €0.3100 €0.1700 76
ROIC Compounder €0.1500 €0.3000 68
Growth Earnings
Growth-Adj P/E €0.0100 64

Widest divergence: Multiples (€2.64) versus Dividend Discount (€0.1000). Highest evidence: Residual Income (76).

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Key figures & financial health

P/S ratio 0.11 TTM
Dividend yield 2.4%
Net margin 0.0% FY2025
Return on equity 2.6% TTM
Return on assets (EBIT) 5.7% avg 5y
Operating margin 5.3% TTM
More key figures
Growth
Revenue (TTM) €1.6B TTM
Revenue growth (YoY) −4.2% 3y avg −9.2%
EPS growth (YoY) −24.1%
Balance sheet & cash flow
Free cash flow −€13.9M FY2025
Net debt €974M FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 42 · Market factors (momentum, volatility) 46

Profitability 30
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Immsi S.p.A. operates in the real estate, industrial, and naval sectors in Italy, the rest of Europe, India, the United States, and internationally.

Full company description

Immsi S.p.A. operates in the real estate, industrial, and naval sectors in Italy, the rest of Europe, India, the United States, and internationally. The company engages in the production and distribution of scooters, motorcycles, and light commercial vehicles; real estate development projects; Is Molas tourist hotel complex management; and production of defense ships, such as mine countermeasure vessels, fast patrol boats, hydrofoils, and fast ferries. It also offers two-wheeler vehicles under the Aprilia, Derbi, Gilera, Moto Guzzi, Piaggio, Scarabeo, and Vespa brand names; and commercial vehicles under the Ape brand names. The company was founded in 2000 and is based in Mantua, Italy. Immsi S.p.A operates as a subsidiary of Omniainvest S.p.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Immsi S.p.A reported revenue of €1.6B in FY2025 versus €1.7B in FY2021, a compound −1.8%/yr. Reported net income was €98.0K in FY2025, compounding −77.1%/yr from FY2021.

Growth Quality 26/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€1.6B
Latest YoY
−8.9%
Avg. revenue 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.
−9.2%
Avg. revenue 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.
+3.0%
Avg. revenue growth/yr (22Y) 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.
+11.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+5.7% · in EUR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+3.3%
Dividend yield2.4%
Operating margin (EBIT) 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.4.8% (2020) → 7.0% (2025) · rising
Worst earnings drop224% (2013) (loss year, drop beyond 100%) · in EUR
Revenue −1.8%/yr
FY21 €1.7B
FY22 €2.1B
FY23 €2.0B
FY24 €1.7B
FY25 €1.6B
Net income −77.1%/yr
FY21 €35.4M
FY22 €63.9M
FY23 €19.1M
FY24 €6.0M
FY25 €98.0K

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Cite: Fair Value Calculator (2026). "Immsi S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/IMS.MI

Peer Group

Auto Manufacturers · 114 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 45 · Below median
Fair Value upside +200% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 3% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth −4% · Below median
Dividend yield (TTM) 2.4% · Below median
Debt / equity 3.64× · Higher than 75% of peers

Valuation Multiples vs Auto Manufacturers median · lower = cheaper

P/B 1.08× · Cheaper than median
P/S (TTM) 0.13× · Cheaper than 75% of peers
EV/EBITDA 3.8× · Cheaper than 75% of peers
PEG 27.34× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 23
FUTURE0 · sector 27
PAST10 · sector 21
HEALTH0 · sector 94
DIVIDEND47 · sector 51

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

Similar stocks

10 more Auto Manufacturers stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Toyota Motor Corporation TM $197.11 $251.77 +28%
BYD Company 81211 HK$73.50 HK$46.64 −37%
Hyundai Motor Company 005380 418,500 KRW 567,393 KRW +36%
Ferrari N.V RACE €355.50 €167.67 −53%
General Motors Company GM $86.27 $52.69 −39%
Ford Motor Company F $13.88 $11.51 −17%
Mercedes-Benz Group MBG €46.95 €106.16 +126%
Dr. Ing. h.c. F. Porsche AG P911 €43.91 €17.34 −61%
Maruti Suzuki India Limited MARUTI ₹12,694 ₹8,236 −35%
Volkswagen AG VOW3 €81.30 €248.34 +205%

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Frequently asked questions

Is Immsi S.p.A (IMS) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of €3.05 versus a price of €0.5030, about +506% upside (undervalued).
What is the fair value of IMS?
Our model-based fair value for Immsi S.p.A is €3.05 (as of Aug 20, 2026), built from audited fundamentals. The current price: €0.5030.
What is the quality score of IMS?
Immsi S.p.A has a Quality Score of 45/100. 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 Immsi S.p.A (IMS)?
Our model-based price target is the fair value of €3.05 (as of Aug 20, 2026) from 13 valuation models. Cautious scenario €1.57, optimistic scenario €3.05. It is a calculation from audited fundamentals, not an analyst target.
What is the Immsi S.p.A stock forecast for 2026?
Our models put fair value at €3.05, about +506% upside versus a price of €0.5030 (undervalued). Cautious scenario €1.57, optimistic scenario €3.05. The calculation is refreshed regularly with new filings.
What is the revenue of Immsi S.p.A (IMS)?
Immsi S.p.A reported trailing-twelve-month revenue of about €1.6B (latest available figure, as of Aug 20, 2026).
What is the net profit margin of IMS?
The net profit margin of Immsi S.p.A is about 0.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Immsi S.p.A pay a dividend?
Immsi S.p.A currently shows a dividend yield of about 2.37% relative to its recent price (as of Aug 20, 2026).
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