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Innovatec S.p.A (INC) Fair Value & Analysis

Utilities · IT · Market cap €18.0M

IS Innovatec S.p.A INC · MI
Price€0.2345
Fair Value€0.0300
Upside-87.2%
Quality30/100
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Weak Growth
Loss-making · -17.1% net margin
Moderate debt · negative free cash flow
Trails peers (2/10)
Narrow moat 10/100
Evidence: Low Range €0.0300 – €0.0500 Share as image

Fair value as of: Jul 31, 2026

From 1 valuation models · updated 10 days ago

Share price +15.8% over the past month.

Below-average quality, and screening another 87% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€0.0500). The favourable scenario is already priced in.
  • Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

€2.47 €0.1668 Fair Value €0.0300 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 31, 2026.

How to read this chart

60‑month range €0.1668 – €2.47 · fair‑value band €0.0300 – €0.0500 · the €0.2345 price screens above the €0.0300 fair value. Dashed = 300-day average. As of Jul 31, 2026.

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Analysis

Innovatec S.p.A (INC) currently trades at €0.2345, while our model-based Fair Value estimate is €0.0300, implying the stock looks roughly 87.2% overvalued today. The Quality Score stands at 30/100 (below-average quality), in the Utilities 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: low).

Over the trailing twelve months, Innovatec S.p.A generated revenue of €27.4M at a net margin of -17.1%. Revenue declined 87.2% year over year. It earns a return on equity of -18.4%. Net debt stands at €13.8M. Fundamentals as of Jul 31, 2026

Our scenario range runs from €0.0300 (bear case) to €0.0500 (bull case); at €0.2345, the current price sits above 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 28% below its 52-week high and 42% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at -87%, INC screens richer 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
NCAV (Graham) €0.0300 €0.0300 €0.0500 50
All 1 models by family
Asset-Based
NCAV (Graham) €0.0300 €0.0300 €0.0500 50

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Key figures & financial health

Revenue (TTM) €27.4M
Revenue growth (YoY) -87.2%
Net margin -17.1%
Return on equity -18.4%
Free cash flow −€3.7M FY2025
Operating margin -24.6%
More key figures
EPS (TTM) €-0.0500
EPS growth (YoY) +25.1%
Net debt €13.8M FY2025

Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 30/100

Of which business quality 29 · Market factors (momentum, volatility) 49

Profitability 13
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 5
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 30
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.

About the company

Innovatec S.p.A., together with its subsidiaries, provides technologies, processes, products, and services in the areas of energy efficiency and renewables in Italy.

Full company description

Innovatec S.p.A., together with its subsidiaries, provides technologies, processes, products, and services in the areas of energy efficiency and renewables in Italy. The company offers relamping, heat pumps, cogeneration and trigeneration systems, photovoltaic and agrivoltaic systems, biomass boilers, and geothermal technologies; and green energy portfolio management and energy requalification of buildings. It also provides technical-strategic consultancy; training services on sustainability and circularity; and monitoring and assessment of digital tools, including circularity platforms, sustainability and circularity assessments, and GHG and ESG reporting tools. In addition, the company is involved in the management of the Boscaccio landfill and energy recovery of landfill biogas. The company was founded in 1938 and is headquartered in Milan, Italy. Innovatec S.p.A. operates as a subsidiary of Mercato, Inc.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Innovatec S.p.A reported revenue of €25.1M in FY2025 versus €140M in FY2021, a compound −34.9%/yr. Reported net income was −€4.7M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€25.1M
Latest YoY
−88.4%
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.
−55.8%
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.
−2.1%
Avg. growth/yr (12Y) 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.
+9.3%
Revenue −34.9%/yr
FY21 €140M
FY22 €290M
FY23 €226M
FY24 €217M
FY25 €25.1M
Net income
FY21 €6.4M
FY22 €10.6M
FY23 €63.2K
FY24 −€10.2M
FY25 −€4.7M

INC screens 87% overvalued. Compare with NextEra Energy, Inc →

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

Peer Group

Utilities - Regulated Electric · 154 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 29 · Bottom 25%
Fair Value upside −87% · Bottom 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -17% · Bottom 25%
Operating margin (TTM) -25% · Bottom 25%
Revenue growth -87% · Bottom 25%
Debt / equity 0.67× · Lower than median

Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper

P/B 4.18× · Pricier than 75% of peers
P/S (TTM) 0.76× · Cheaper than median

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 0 · sector 7
FUTURE 0 · sector 32
PAST 0 · sector 39
HEALTH 66 · sector 54
DIVIDEND 0 · sector 56

VALUE 0: the price sits above our fair-value range.

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 Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $88.80 $32.94 -63%
The Southern Company SO $95.61 $61.06 -36%
Duke Energy Corporation DUK $126.11 $97.11 -23%
National Grid plc NGG 61,175 ARS 44,377 ARS -27%
American Electric Power Company AEP $132.50 $79.33 -40%
Dominion Energy, Inc D $70.08 $46.92 -33%
NTPC Limited NTPC ₹341.85 ₹377.16 +10%
CEZ, a. s. CEZ 232.40 PLN 159.33 PLN -31%
Power Grid Corporation POWERGRID ₹283.55 ₹252.77 -11%
China National Nuclear Power Co 601985 ¥8.91 ¥7.69 -14%

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Frequently asked questions

Is Innovatec S.p.A (INC) overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of €0.0300 versus a price of €0.2345, about −87% (overvalued).
What is the fair value of INC?
Our model-based fair value for Innovatec S.p.A is €0.0300 (as of Jul 31, 2026), built from audited fundamentals. The current price is €0.2345.
What is the quality score of INC?
Innovatec S.p.A has a Quality Score of 30/100. 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 Innovatec S.p.A (INC)?
Innovatec S.p.A reported trailing-twelve-month revenue of about €27.4M (latest available figure, as of Jul 31, 2026).
What is the net profit margin of INC?
The net profit margin of Innovatec S.p.A is about -17.1%, meaning it is currently running at a net loss. 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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