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Data-driven stock valuation

Innovatec S.p.A. (INC) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Innovatec S.p.A. stock €0.22, price €0.25, that is 12.5% below the price, quality 26 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Utilities IT · ISIN IT0005412298

IS Innovatec S.p.A. logo Thin data Nov 10, 2026

Innovatec S.p.A.

INC · MI
Expensive, weak quality

Our calculation puts a fair price 12% below what the stock costs today.

Last quarter vs. a year ago: revenue +82%, profit +25%.
Mixed Growth (revenue 5y −2.1 %/yr in EUR)
Moderate debt
Mixed vs. peers (4/9)
Fair value €0.2171 · Overvalued
Quality 26/100
Loss-making · -16.2% net margin (TTM)
Negative free cash flow
Narrow moat 9/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

€2.47 €0.1668 Fair Value €0.2171 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range €0.1668 – €2.47 · fair‑value band €0.1628 – €0.2714 · the €0.2480 price screens above the €0.2171 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

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

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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.

Stock analysis

Innovatec S.p.A. (INC) currently trades at €0.2480, while our estimate is €0.2171, 12% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: €0.1628 (bear) to €0.2714 (bull), the price of €0.2480 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 26/100 (below-average quality), in the Utilities sector.

Mixed Growth: Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.

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.

Key figures

Market cap €33.9M Micro · P/S ratio 0.94 · EPS (TTM) €−0.0500 · Net margin −16.2% · Return on equity −39.1% · Return on assets (EBIT) 5.3% (5-year average) · Operating margin −7.6% · Revenue (TTM) €34.5M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (low confidence).

What moves the price

The share trades about 14% 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 −39% fair-value upside, at −12%, INC screens cheaper than that median.

Fair Value

Bear €0.1628 Fair Value €0.2171 Bull €0.2714
Price €0.2480 · Downside -12.5%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 26/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 13
How much profit the company makes from its sales and capital
Quality Growth 7
Are margins and returns getting better?
Cashflow 15
Do the profits arrive as real cash?
Financial strength 5
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 70
How calm the share price moves, does not count
Price momentum 57
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 57
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.
Revenue growth 1 year
−88.4%
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.
−55.8%
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.
−2.1%
Start year 2020 (pandemic)
Revenue growth 7 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.
−3.0%
Profit margin (trend) ⓘ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.
13.4% (2019) → −15.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

INC screens overvalued: fair value 12% below the price. Compare with NextEra Energy, Inc →

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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.Utilities - Regulated Electric · 156 stocks

Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −12.5% · Above median
Profitability
Return on assets −7.0% · Bottom 25%
Net margin (12 months) −16.2% · Bottom 25%
Operating margin (12 months) −7.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 82.1% · Top 25%
Balance sheet
Debt / equity 0.67× · Below median

Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper

P/B 6.79× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 0.98× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)17 · sector 13
FUTURE (revenue growth)100 · sector 28
PAST (return on equity)0 · sector 39
HEALTH (low debt)66 · sector 52
DIVIDEND (yield)0 · sector 63

Context: sector, industry, market

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 Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
PG&E Corporation PCG $13.14 $17.29 +32% vs INC
Exelon Corporation EXC $45.65 $36.01 −21% vs INC
American Electric Power Company AEP $128.33 $100.03 −22% vs INC
Xcel Energy Inc XEL $80.17 $53.45 −33% vs INC
The Southern Company SO $93.57 $56.88 −39% vs INC
Duke Energy Corporation DUK $128.10 $75.79 −41% vs INC
Dominion Energy, Inc D $68.24 $37.88 −44% vs INC
Consolidated Edison, Inc ED $118.39 $47.59 −60% vs INC
NextEra Energy, Inc NEE $86.86 $29.83 −66% vs INC
Entergy Corporation ETR $111.79 $37.37 −67% vs INC

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Innovatec S.p.A.: fair value per Fair Value Calculator

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

Frequently asked questions

Is Innovatec S.p.A. (INC) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €0.2171 versus a price of €0.2480, about 12% lower (overvalued).
What is the fair value of INC?
Our estimate for Innovatec S.p.A. is €0.2171 (as of Nov 10, 2026), built from audited fundamentals. The current price: €0.2480.
What is the quality score of INC?
Innovatec S.p.A. has a Quality Score of 26/100. 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 Innovatec S.p.A. (INC)?
Our calculated price target is the estimate of €0.2171 (as of Nov 10, 2026). Cautious scenario €0.1628, optimistic scenario €0.2714. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Innovatec S.p.A. stock forecast for 2026?
Our estimate puts fair value at €0.2171, about 12% lower versus a price of €0.2480 (overvalued). Cautious scenario €0.1628, optimistic scenario €0.2714. The calculation is refreshed regularly with new filings.
What is the revenue of Innovatec S.p.A. (INC)?
Innovatec S.p.A. reported trailing-twelve-month revenue of about €34.5M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Innovatec S.p.A. (INC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Innovatec S.p.A. it is €0.2171 per share (as of Nov 10, 2026), against a price of €0.2480.
Is Innovatec S.p.A. stock overvalued or undervalued in 2026?
As of Nov 10, 2026, INC trades above its calculated fair value: price €0.2480, fair value €0.2171, a gap of about −12% (overvalued). 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 INC?
No. The price is what the market pays today (€0.2480); the fair value is what the company's own numbers justify (€0.2171). For Innovatec S.p.A. the two are €0.0309 per share apart. That gap is exactly why we show both numbers side by side.
How much is Innovatec S.p.A. worth?
The market values Innovatec S.p.A. at about €33.9M (market capitalisation, as of Nov 10, 2026). Per share that is €0.2480; our models calculate a fair value of €0.2171 per share.
What do the bullish and bearish scenarios say about INC?
Our models span a range for Innovatec S.p.A.: cautious scenario €0.1628, base €0.2171, optimistic €0.2714 per share (as of Nov 10, 2026, price €0.2480). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Innovatec S.p.A. (INC)?
Balance-sheet figures for Innovatec S.p.A. (as of Nov 10, 2026): return on equity −39.1%, debt of 0.67 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is INC from its 52-week high?
Innovatec S.p.A. trades at €0.2480, about 14% below its 52-week high of €0.2870 and 42% above the low of €0.1750 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of €0.2171 is for.
Which stocks are comparable to Innovatec S.p.A.?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 Innovatec S.p.A. stock attractive at the current price?
The data as of Nov 10, 2026: price €0.2480, calculated fair value €0.2171 (−12%), Quality Score 26/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7% above its aggregate fair value. Innovatec 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 Innovatec S.p.A. (INC)?
The closing price on Nov 9, 2026 was €0.2480. Our estimate is €0.2171, about 12% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Innovatec S.p.A. right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 Innovatec S.p.A.

How large is the market capitalisation of Innovatec S.p.A. (INC)?
The market capitalisation of Innovatec S.p.A. is €33.9M. 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 Innovatec S.p.A. (INC)?
The price-to-sales ratio of Innovatec S.p.A. is 0.94 (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 Innovatec S.p.A. (INC)?
Earnings per share at Innovatec S.p.A. are €−0.0500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Innovatec S.p.A. (INC)?
The net margin of Innovatec S.p.A. is −16.2% (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 Innovatec S.p.A. (INC)?
The return on equity (ROE) of Innovatec S.p.A. is −39.1% (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 Innovatec S.p.A. (INC)?
On an EBIT basis the return on assets of Innovatec S.p.A. is 5.3% (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 Innovatec S.p.A. (INC)?
The operating margin of Innovatec S.p.A. is −7.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Innovatec S.p.A. (INC)?
Revenue at Innovatec S.p.A. is growing +82.1% versus a year earlier (3y avg −55.8%). 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 Innovatec S.p.A. (INC)?
Earnings per share at Innovatec S.p.A. are growing +25.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Innovatec S.p.A. (INC) generate?
The free cash flow of Innovatec S.p.A. is −€3.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Innovatec S.p.A. (INC) carry?
The net debt of Innovatec S.p.A. is €13.8M (fiscal year 2025). 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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