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iVision Tech S.p.A (IVN) Fair Value & Analysis

Consumer Cyclical · IT · Market cap €13.7M

IT iVision Tech S.p.A IVN · MI
Price€1.29
Fair Value€0.1500
Upside-88.4%
Quality27/100
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Expensive Growth
Thin margins · 0.0% net margin
Moderate debt · negative free cash flow
Trails peers (1/11)
Narrow moat 14/100
Evidence: High Range €0.1100 – €0.2000 Share as image

Fair value as of: Aug 8, 2026

From 14 valuation models · updated today

Fair value updated Aug 8, 2026, revised from €0.1600 to €0.1500 (−6.3%) since Jul 3, 2026. Share price −24.8% over the past month.

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€0.2000). The favourable scenario is already priced in.
  • Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (€0.1100 to €0.2000) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

€2.68 €0.7400 Fair Value €0.1500 Aug 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

36‑month range €0.7400 – €2.68 · fair‑value band €0.1100 – €0.2000 · the €1.29 price screens above the €0.1500 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

iVision Tech S.p.A (IVN) currently trades at €1.29, while our model-based Fair Value estimate is €0.1500, implying the stock looks roughly 88.4% overvalued today. We read business quality at 27/100 (below-average quality), in the Consumer Cyclical 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: high).

Trailing-twelve-month revenue stands at €20.4M. Revenue declined 9.1% year over year. It earns a return on equity of 0.3%. Net debt stands at €8.6M. Fundamentals as of Aug 8, 2026

Our scenario range runs from €0.1100 (bear case) to €0.2000 (bull case); at €1.29, 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 55% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 0% fair-value upside, at -88%, IVN 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 BearBaseBull Evidence
Highest evidence
ROIC Compounder €0.1900 €0.2900 €0.3800 72
Growth-Adj P/E €0.1100 €0.1600 €0.2100 68
P/E Multiple €0.0500 €0.0700 €0.0900 63
All 14 models by family
Earnings-Based
Graham-Dodd €0.0200 €0.1700 €0.2400 54
Lynch FV €0.0900 €0.1300 €0.1600 50
PEG = 1.0 €0.0900 €0.1300 €0.1600 46
EPV €0.1900 €0.2900 €0.3800 59
Multiples
P/E Multiple €0.0500 €0.0700 €0.0900 63
P/S Multiple €0.0500 €0.0600 €0.0800 58
P/B Multiple €0.0500 €0.0600 €0.0800 55
EV/EBIT €1.40 €2.09 €2.78 53
EV/EBITDA €3.80 €5.29 €6.79 54
EV/Revenue €0.7200 €1.32 €1.92 43
Asset-Based
NCAV (Graham) €0.6300 €0.8500 €1.26 50
Economic Profit
Residual Income €0.7600 €0.6600 €0.3900 61
ROIC Compounder €0.1900 €0.2900 €0.3800 72
Growth Earnings
Growth-Adj P/E €0.1100 €0.1600 €0.2100 68

Widest divergence: Asset-Based (€0.8500) versus Multiples (€0.0700). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Revenue (TTM) €20.4M
Revenue growth (YoY) -9.1%
Net margin 0.0%
Return on equity 0.3%
Free cash flow −€1.0M FY2025
Operating margin -0.1%
More key figures
EPS growth (YoY) +2,201%
Net debt €8.6M FY2025

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 27/100

Of which business quality 39 · Market factors (momentum, volatility) 13

Profitability 33
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 5
Disciplined investing over empire-building
Low Volatility 32
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 51
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

iVision Tech S.p.A. designs and produces acetate eyeglass frames and sunglasses, and combination glasses in Italy. The company was incorporated in 2020 and is headquartered in Milan, Italy. iVision Tech S.p.A. operates as a subsidiary of Effe Group S.R.L.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

iVision Tech S.p.A reported revenue of €19.3M in FY2025 versus €4.5M in FY2021, a compound +43.8%/yr. Reported net income was €28.5K in FY2025, compounding −22.0%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€19.3M
Latest YoY
+25.3%
Avg. growth/yr (3Y)
+34.6%
Revenue +43.8%/yr
FY21 €4.5M
FY22 €7.9M
FY23 €9.5M
FY24 €15.4M
FY25 €19.3M
Net income −22.0%/yr
FY21 €77.0K
FY22 €282K
FY23 €134K
FY24 −€12.6K
FY25 €28.5K

IVN screens 88% overvalued. Compare with NIKE, Inc →

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

Peer Group

Footwear & Accessories · 95 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 27 · Bottom 25%
Return on equity (TTM) 0% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) -0% · Bottom 25%
Revenue growth -9% · Below median
Debt / equity 0.72× · Higher than 75% of peers

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/B 1.58× · Pricier than median
P/S (TTM) 0.77× · Pricier than median
EV/EBITDA 7.5× · 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 12
FUTURE 0 · sector 0
PAST 1 · sector 22
HEALTH 64 · sector 97
DIVIDEND 0 · sector 40

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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $44.37 $35.63 -20%
adidas AG 1ADS €165.00 €65.71 -60%
Deckers Outdoor Corporation DECK $106.49 $125.16 +18%
On Holding ONON $38.20 $17.64 -54%
Zhejiang China Commodities City Group 600415 ¥11.59 ¥13.03 +12%
Birkenstock Holding BIRK $44.36 $44.14 -0%
Crocs, Inc CROX $138.91 $203.65 +47%
Huali Industrial Group 300979 ¥31.10 ¥54.71 +76%
PUMA SE PUM €29.31 €10.57 -64%
Steven Madden, Ltd SHOO $43.26 $11.69 -73%

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Frequently asked questions

Is iVision Tech S.p.A (IVN) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of €0.1500 versus a price of €1.29, about −88% (overvalued).
What is the fair value of IVN?
Our model-based fair value for iVision Tech S.p.A is €0.1500 (as of Aug 8, 2026), built from audited fundamentals. The current price is €1.29.
What is the quality score of IVN?
iVision Tech S.p.A has a Quality Score of 27/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of iVision Tech S.p.A (IVN)?
iVision Tech S.p.A reported trailing-twelve-month revenue of about €20.4M (latest available figure, as of Aug 8, 2026).
What is the net profit margin of IVN?
The net profit margin of iVision Tech S.p.A is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. 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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