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IRCE S.p.A (IRC) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of IRCE S.p.A €3.49, price €2.22, upside +57.2%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Industrials · IT · ISIN IT0001077780

IS Broad data Sep 23, 2026

IRCE S.p.A

IRC · MI

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value €3.49 · Strongly undervalued (+57%)
!Quality 47/100
!Weak Growth (revenue 5y +5.0 %/yr)
!Thin margins · 2.1% net margin (TTM)
!Low debt · negative free cash flow
·2.70% dividend yield
!Mixed vs. peers (6/13)
!Narrow moat 33/100
!Weak on future: 14 out of 100
!Weak on past: 20 out of 100
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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

€3.01 €1.64 Fair Value €3.49 Jul 2021 Sep 2026

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

60‑month range €1.64 – €3.01 · fair‑value band €2.60 – €3.49 · the €2.22 price screens below the €3.49 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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Company profile

IRCE S.p.A. engages in the winding conductors and electrical cables sector in Italy, the European Union, and the rest of European Union. The company offers winding conductors, such as enameled copper and aluminum wires, and copper and aluminum strips for electric motor and generator, transformer, inductor, and relay applications.

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IRCE S.p.A. engages in the winding conductors and electrical cables sector in Italy, the European Union, and the rest of European Union. The company offers winding conductors, such as enameled copper and aluminum wires, and copper and aluminum strips for electric motor and generator, transformer, inductor, and relay applications. It also provides low and medium voltage cables for construction of electrical systems in civil and industrial buildings, as well as power supply and wiring of electrical equipment; and CPR cables. The company was founded in 1947 and is headquartered in Imola, Italy. IRCE S.p.A. operates as a subsidiary of Aequafin S.p.A.

Stock analysis

IRCE S.p.A (IRC) currently trades at €2.22, while our model-based Fair Value estimate is €3.49, implying the stock looks roughly 36.4% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €4.51 per share, and 9 of the 14 models we run sit above the €2.22 price.

Bear case: the Dividend Discount group reads lowest at €0.4500, and 5 of the 14 models stay below the price. Evidence for this calculation is high.

Scenario range: €2.60 (bear) to €3.49 (bull), the price of €2.22 sits below 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 47/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

IRCE S.p.A reported revenue of €378M in FY2025 versus €457M in FY2021, a compound −4.7%/yr. Reported net income was €6.2M in FY2025, compounding −9.9%/yr from FY2021.

Key figures

Market cap €58.6M · P/E ratio 7.2 · P/S ratio 0.12 · EPS (TTM) €0.3100 · Dividend yield 2.7% · Net margin 1.6% · Return on equity 5.1% · Return on assets (EBIT) 5.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 9% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −28% fair-value upside, at 57%, IRC screens cheaper than that median.

Fair Value models

Bear €2.60 Fair Value €3.49 Bull €3.49
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 (€0.1836 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.
Highest evidence
EPV €1.82 €2.13 €2.39 74
Residual Income €3.95 €3.73 €2.91 74
ROIC Compounder €1.82 €2.13 €2.39 70
All 14 models by family
Earnings-Based
Graham-Dodd €1.59 €1.94 €2.19 65
EPV €1.82 €2.13 €2.39 74
Dividend Discount
Gordon GGM €0.4200 €0.4500 €0.4900 67
DDM Multi-Stage €0.4200 €0.4800 €0.5700 65
Multiples
P/E Multiple €3.68 €4.91 €6.14 63
P/S Multiple €2.98 €3.97 €4.97 58
P/B Multiple €2.98 €3.97 €4.97 55
EV/EBIT €4.40 €6.14 €7.88 66
EV/EBITDA €5.68 €7.84 €10.00 67
EV/Revenue €2.91 €4.51 €6.10 53
Asset-Based
NCAV (Graham) €2.96 €3.96 €5.92 54
Economic Profit
Residual Income €3.95 €3.73 €2.91 74
ROIC Compounder €1.82 €2.13 €2.39 70
Growth Earnings
Growth-Adj P/E €2.60 €3.71 €4.83 65

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Quality Score breakdown

Overall quality 47/100

Of which business quality 45 · Market factors (momentum, volatility) 57

Profitability 45
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 83
Share count: buybacks or dilution?

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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. 31/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−5.0%
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.
−6.0%
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.
+5.0%
Start year 2020 (pandemic). Over 10 years: +0.8% a year
Revenue growth 25 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.
−24.1%
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.
+20.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.9%
Dividend (yield on the price)2.7%
Profit margin 2020 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.1% → 3%

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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.Electrical Equipment & Parts · 553 stocks

Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +57% · Top 25%
Profitability
Return on equity (TTM) 5% · Below median
Return on assets 3% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 6% · Below median
Growth and dividend
Revenue growth 3% · Below median
Dividend yield (TTM) 2.7% · Top 25%
Balance sheet
Debt / equity 0.25× · Highest 25%

Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 7.2× · Cheapest 25%
P/B 0.43× · Cheapest 25%
P/S (TTM) 0.17× · Cheapest 25%
EV/EBITDA 4.5× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)14 · sector 58
PAST (return on equity)20 · sector 26
HEALTH (low debt)87 · sector 97
DIVIDEND (yield)54 · sector 23

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

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Legrand SA LR €134.60 €82.53 −39%
Sungrow Power Supply Co 300274 ¥88.20 ¥201.23 +128%
Hubbell Incorporated HUBB $463.70 $293.12 −37%
Shenzhen Inovance Technology Co 300124 ¥54.05 ¥47.94 −11%
nVent Electric plc NVT $162.65 $43.54 −73%
HD Hyundai Electric Co 267260 708,000 KRW 778,800 KRW +10%

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IRCE S.p.A · Fair Value
€3.49 +36%Fair Value
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Cite: Fair Value Calculator (2026). "IRCE S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/IRC

Frequently asked questions

Is IRCE S.p.A (IRC) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €3.49 versus a price of €2.22, about +57% upside (undervalued).
What is the fair value of IRC?
Our model-based fair value for IRCE S.p.A is €3.49 (as of Sep 23, 2026), built from audited fundamentals. The current price: €2.22.
What is the quality score of IRC?
IRCE S.p.A has a Quality Score of 47/100. 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 IRCE S.p.A (IRC)?
Our model-based price target is the fair value of €3.49 (as of Sep 23, 2026) from 14 valuation models. Cautious scenario €2.60, optimistic scenario €3.49. It is a calculation from audited fundamentals, not an analyst target.
What is the IRCE S.p.A stock forecast for 2026?
Our models put fair value at €3.49, about +57% upside versus a price of €2.22 (undervalued). Cautious scenario €2.60, optimistic scenario €3.49. The calculation is refreshed regularly with new filings.
What is the revenue of IRCE S.p.A (IRC)?
IRCE S.p.A reported trailing-twelve-month revenue of about €382M (latest available figure, as of Sep 23, 2026).
Does IRCE S.p.A pay a dividend?
IRCE S.p.A currently shows a dividend yield of about 2.70% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of IRCE S.p.A (IRC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IRCE S.p.A it is €3.49 per share (as of Sep 23, 2026), against a price of €2.22. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is IRCE S.p.A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, IRC trades below its calculated fair value: price €2.22, fair value €3.49, a gap of about +57% (undervalued). 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 IRC?
No. The price is what the market pays today (€2.22); the fair value is what the company's own numbers justify (€3.49). For IRCE S.p.A the two are €1.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is IRCE S.p.A worth?
The market values IRCE S.p.A at about €58.6M (market capitalisation, as of Sep 23, 2026). Per share that is €2.22; our models calculate a fair value of €3.49 per share.
What do the bullish and bearish scenarios say about IRC?
Our models span a range for IRCE S.p.A: cautious scenario €2.60, base €3.49, optimistic €3.49 per share (as of Sep 23, 2026, price €2.22). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IRC?
IRCE S.p.A trades at a price-to-earnings ratio of 7.2 (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 €3.49 is built from several models across several years. Other multiples: P/B 0.4, P/S 0.2, EV/EBITDA 4.5.
How solid is the balance sheet of IRCE S.p.A (IRC)?
Balance-sheet figures for IRCE S.p.A (as of Sep 23, 2026): return on equity 5.1%, debt of 0.25 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is IRC from its 52-week high?
IRCE S.p.A trades at €2.22, about 9% below its 52-week high of €2.43 and 21% above the low of €1.84 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €3.49 is for.
Which stocks are comparable to IRCE S.p.A?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Prysmian S.p.A, 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 IRCE S.p.A stock attractive at the current price?
The data as of Sep 23, 2026: price €2.22, calculated fair value €3.49 (+57%), Quality Score 47/100, from 14 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 IRC calculated?
We run IRCE S.p.A through 14 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 €3.49, 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 14.0 % above its aggregate fair value. IRCE S.p.A currently trades 57 % below its own fair value, and the market average says nothing about that. 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 IRCE S.p.A (IRC)?
The closing price on Sep 24, 2026 was €2.22. Our model-based fair value is €3.49, about +57% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IRCE S.p.A right now?
The price is below even our cautious bear case (€2.60). The market is more pessimistic than our downside scenario. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of IRCE S.p.A

How large is the market capitalisation of IRCE S.p.A (IRC)?
The market capitalisation of IRCE S.p.A is €58.6M. 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 IRCE S.p.A (IRC)?
The price-to-sales ratio of IRCE S.p.A is 0.12 (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 IRCE S.p.A (IRC)?
Earnings per share at IRCE S.p.A are €0.3100 (price ÷ EPS = P/E 7.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of IRCE S.p.A (IRC)?
The dividend yield of IRCE S.p.A is 2.7% (payout 19.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of IRCE S.p.A (IRC)?
The net margin of IRCE S.p.A is 1.6% (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 IRCE S.p.A (IRC)?
The return on equity (ROE) of IRCE S.p.A is 5.1% (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 IRCE S.p.A (IRC)?
On an EBIT basis the return on assets of IRCE S.p.A is 5.1% (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 IRCE S.p.A (IRC)?
The operating margin of IRCE S.p.A is 6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IRCE S.p.A (IRC)?
Revenue at IRCE S.p.A is growing +2.8% versus a year earlier (3y avg −6.0%). 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 IRCE S.p.A (IRC)?
Earnings per share at IRCE S.p.A are growing +96.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does IRCE S.p.A (IRC) generate?
The free cash flow of IRCE S.p.A is −€20.0M (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 IRCE S.p.A (IRC) carry?
The net debt of IRCE S.p.A is €67.6M (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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