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Italmobiliare S.p.A (ITM) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Italmobiliare S.p.A €24.88, price €25.50, upside -2.4%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Defensive · IT · ISIN IT0005253205

IS Some data Sep 23, 2026

Italmobiliare S.p.A

ITM · MI

Low PriorityFair Value upside is limited and quality is weak.

·Fair value €24.88 · Fairly valued (−2%)
!Quality 44/100
!Expensive Growth (revenue 5y +5.6 %/yr)
!Thin margins · 7.9% net margin (TTM)
!Low debt · negative free cash flow
·4.31% dividend yield
!Mixed vs. peers (6/14)
!Narrow moat 37/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 18 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

€32.16 €19.13 Fair Value €24.88 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 €19.13 – €32.16 · fair‑value band €20.89 – €32.34 · the €25.50 price screens above the €24.88 fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Italmobiliare S.p.A., an investment holding company, owns and manages a portfolio of equity and other investments in the financial and industrial sectors in Italy and internationally. The company produces and sells coffee in compatible capsules and pods; cosmetics and fragrances; cooked and smoked cured meat; and cycling and motorcycling footwear.

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Italmobiliare S.p.A., an investment holding company, owns and manages a portfolio of equity and other investments in the financial and industrial sectors in Italy and internationally. The company produces and sells coffee in compatible capsules and pods; cosmetics and fragrances; cooked and smoked cured meat; and cycling and motorcycling footwear. It also produces and distributes electricity from renewable sources, including hydroelectric, wind, and photovoltaic plants. In addition, the company operates a network of specialist diagnostic, dental, and physio-kinesitherapy outpatient clinics; and an e-commerce platform that sells wine and spirits. Further, it manufactures and sells outdoor footwear and ski equipment under the Tecnica, Nordica, Moon Boot, Lowa, Blizzard, and Rollerblade brand names; designs, produces, and sells mechanical and electronic locks, and solutions for security and access management; engages in the non-life insurance retail focusing on motor segment; and holds alternative investments in private equity and credit, as well as offers factoring services. The company was founded in 1946 and is headquartered in Milan, Italy.

Stock analysis

Italmobiliare S.p.A (ITM) currently trades at €25.50, while our model-based Fair Value estimate is €24.88, implying the stock looks roughly 2.5% fairly valued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €26.34 per share, and 5 of the 15 models we run sit above the €25.50 price.

Bear case: the Earnings-Based group reads lowest at €9.05, and 10 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: €20.89 (bear) to €32.34 (bull), the price of €25.50 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 44/100 (below-average quality), in the Consumer Defensive sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Italmobiliare S.p.A reported revenue of €775M in FY2025 versus €497M in FY2021, a compound +11.7%/yr. Reported net income was €55.7M in FY2025, compounding −20.5%/yr from FY2021.

Key figures

Market cap €1.1B · P/E ratio 17.2 · P/S ratio 1.24 · EPS (TTM) €1.48 · Dividend yield 4.3% · Net margin 7.2% · Return on equity 4.6% · Return on assets (EBIT) 4.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 21% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Defensive peers we cover trades at −2% fair-value upside, at −2%, ITM screens richer than that median.

Fair Value models

Bear €20.89 Fair Value €24.88 Bull €32.34
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 (€0.2780 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
Owner Earnings €13.67 €20.50 €29.67 76
Residual Income €24.78 €23.81 €19.43 76
EPV €18.54 €21.25 €23.50 74
All 15 models by family
DCF Models
Owner Earnings €13.67 €20.50 €29.67 76
Earnings-Based
Graham-Dodd €9.02 €28.72 €38.28 64
Lynch FV €6.33 €9.05 €11.76 61
PEG = 1.0 €6.33 €9.05 €11.76 57
EPV €18.54 €21.25 €23.50 74
Multiples
P/E Multiple €20.89 €27.86 €34.82 63
P/S Multiple €16.91 €22.55 €28.19 58
P/B Multiple €16.91 €22.55 €28.19 55
EV/EBIT €33.85 €45.57 €57.29 66
EV/EBITDA €38.44 €51.70 €64.95 67
EV/Revenue €18.04 €26.34 €34.64 53
Asset-Based
NCAV (Graham) €17.84 €23.91 €35.69 54
Economic Profit
Residual Income €24.78 €23.81 €19.43 76
ROIC Compounder €18.54 €21.25 €23.50 72
Growth Earnings
Growth-Adj P/E €17.41 €24.88 €32.34 67

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Quality Score breakdown

Overall quality 44/100

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

Profitability 28
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 85
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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+9.9%
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.
+16.7%
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.
+5.6%
Start year 2020 (pandemic). Over 10 years: +6.4% a year
Revenue growth 12 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.
−13.8%
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.
+0.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.9%
Dividend (yield on the price)4.3%
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.18% → 15%

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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.Packaged Foods · 668 stocks

Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 44 · Bottom 25%
Fair Value upside −2% · Below median
Profitability
Return on equity (TTM) 5% · Below median
Return on assets 3% · Below median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 8% · Above median
Growth and dividend
Revenue growth 7% · Above median
Dividend yield (TTM) 4.3% · Above median
Balance sheet
Debt / equity 0.12× · Above median

Valuation Multiplesvs Packaged Foods median · lower = cheaper

P/E (TTM) 17.2× · Cheaper than median
P/B 0.81× · Cheaper than median
P/S (TTM) 1.52× · Pricier than median
EV/EBITDA 8.6× · Pricier than median
PEG 4.45× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)30 · sector 32
FUTURE (revenue growth)36 · sector 19
PAST (return on equity)18 · sector 29
HEALTH (low debt)94 · sector 96
DIVIDEND (yield)86 · sector 58

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 Packaged Foods stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 77.09 CHF 59.49 −23%
Danone S.A BN €60.90 €50.81 −17%
The Kraft Heinz Company KHC $24.00 $29.20 +22%
Foshan Haitian Flavouring and Food Company 603288 ¥34.29 ¥37.72 +10%
Nestlé India Limited NESTLEIND ₹1,364 ₹724.74 −47%
Inner Mongolia Yili Industrial Group 600887 ¥26.77 ¥41.84 +56%
Yihai Kerry Arawana Holdings 300999 ¥25.12 ¥9.98 −60%
General Mills, Inc GIS $35.45 $34.66 −2%
McCormick & Company MKC $49.42 $51.01 +3%
Hormel Foods Corporation HRL $20.33 $15.09 −26%

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Italmobiliare S.p.A · Fair Value
€24.88 −2%Fair Value
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Cite: Fair Value Calculator (2026). "Italmobiliare S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/ITM

Frequently asked questions

Is Italmobiliare S.p.A (ITM) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €24.88 versus a price of €25.50, about −2% upside (fairly valued).
What is the fair value of ITM?
Our model-based fair value for Italmobiliare S.p.A is €24.88 (as of Sep 23, 2026), built from audited fundamentals. The current price: €25.50.
What is the quality score of ITM?
Italmobiliare S.p.A has a Quality Score of 44/100. 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 Italmobiliare S.p.A (ITM)?
Our model-based price target is the fair value of €24.88 (as of Sep 23, 2026) from 15 valuation models. Cautious scenario €20.89, optimistic scenario €32.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Italmobiliare S.p.A stock forecast for 2026?
Our models put fair value at €24.88, about −2% upside versus a price of €25.50 (fairly valued). Cautious scenario €20.89, optimistic scenario €32.34. The calculation is refreshed regularly with new filings.
What is the revenue of Italmobiliare S.p.A (ITM)?
Italmobiliare S.p.A reported trailing-twelve-month revenue of about €804M (latest available figure, as of Sep 23, 2026).
Does Italmobiliare S.p.A pay a dividend?
Italmobiliare S.p.A currently shows a dividend yield of about 4.31% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Italmobiliare S.p.A (ITM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Italmobiliare S.p.A it is €24.88 per share (as of Sep 23, 2026), against a price of €25.50. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Italmobiliare S.p.A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ITM trades above its calculated fair value: price €25.50, fair value €24.88, a gap of about −2% (fairly valued). 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 ITM?
No. The price is what the market pays today (€25.50); the fair value is what the company's own numbers justify (€24.88). For Italmobiliare S.p.A the two are €0.6200 per share apart. That gap is exactly why we show both numbers side by side.
How much is Italmobiliare S.p.A worth?
The market values Italmobiliare S.p.A at about €1.1B (market capitalisation, as of Sep 23, 2026). Per share that is €25.50; our models calculate a fair value of €24.88 per share.
What do the bullish and bearish scenarios say about ITM?
Our models span a range for Italmobiliare S.p.A: cautious scenario €20.89, base €24.88, optimistic €32.34 per share (as of Sep 23, 2026, price €25.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ITM?
Italmobiliare S.p.A trades at a price-to-earnings ratio of 17.2 (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 €24.88 is built from several models across several years. Other multiples: PEG 4.4, P/B 0.8, P/S 1.5, EV/EBITDA 8.6.
What is the PEG ratio of ITM?
The PEG ratio of Italmobiliare S.p.A is 4.45 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Italmobiliare S.p.A (ITM)?
Balance-sheet figures for Italmobiliare S.p.A (as of Sep 23, 2026): return on equity 4.6%, debt of 0.12 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is ITM from its 52-week high?
Italmobiliare S.p.A trades at €25.50, about 21% below its 52-week high of €32.16 and 7% above the low of €23.81 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €24.88 is for.
Which stocks are comparable to Italmobiliare S.p.A?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, The Kraft Heinz Company, Foshan Haitian Flavouring and Food 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 Italmobiliare S.p.A stock attractive at the current price?
The data as of Sep 23, 2026: price €25.50, calculated fair value €24.88 (−2%), Quality Score 44/100, from 15 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 ITM calculated?
We run Italmobiliare S.p.A through 15 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 €24.88, 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 14.1 % above its aggregate fair value. Italmobiliare 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 Italmobiliare S.p.A (ITM)?
The closing price on Sep 23, 2026 was €25.50. Our model-based fair value is €24.88, about −2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Italmobiliare S.p.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Italmobiliare S.p.A

How large is the market capitalisation of Italmobiliare S.p.A (ITM)?
The market capitalisation of Italmobiliare S.p.A is €1.1B. 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 Italmobiliare S.p.A (ITM)?
The price-to-sales ratio of Italmobiliare S.p.A is 1.24 (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 Italmobiliare S.p.A (ITM)?
Earnings per share at Italmobiliare S.p.A are €1.48 (price ÷ EPS = P/E 17.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Italmobiliare S.p.A (ITM)?
The dividend yield of Italmobiliare S.p.A is 4.3% (payout 74.3%). 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 Italmobiliare S.p.A (ITM)?
The net margin of Italmobiliare S.p.A is 7.2% (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 Italmobiliare S.p.A (ITM)?
The return on equity (ROE) of Italmobiliare S.p.A is 4.6% (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 Italmobiliare S.p.A (ITM)?
On an EBIT basis the return on assets of Italmobiliare S.p.A is 4.8% (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 Italmobiliare S.p.A (ITM)?
The operating margin of Italmobiliare S.p.A is 7.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Italmobiliare S.p.A (ITM)?
Revenue at Italmobiliare S.p.A is growing +7.1% versus a year earlier (3y avg +16.7%). 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 Italmobiliare S.p.A (ITM)?
Earnings per share at Italmobiliare S.p.A are growing +51.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Italmobiliare S.p.A (ITM) generate?
The free cash flow of Italmobiliare S.p.A is −€62.2M (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 Italmobiliare S.p.A (ITM) carry?
The net debt of Italmobiliare S.p.A is €363M (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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