Kaleon (KLN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Kaleon €2.19, price €3.87, upside -43.3%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Kaleon for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 23, 2026.
How to read this chart
10‑month range €3.83 – €4.45 · fair‑value band €1.53 – €2.84 · the €3.87 price screens above the €2.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 23, 2026.
Follow Kaleon in your weekly email
Every Wednesday you see whether Kaleon is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Kaleon S.p.A. specializes in the operation, management, protection, and enhancement of artistic, natural, and museum heritage. The company's services include general admission, private tours, and guided visits.
Show more
Kaleon S.p.A. specializes in the operation, management, protection, and enhancement of artistic, natural, and museum heritage. The company's services include general admission, private tours, and guided visits. It also provides tourist offerings, such as food & beverage services, bookshops and boutiques, programs dedicated to school trips, accommodations, bicycle and sports equipment rental services, and location rental services for private events and weddings. It operates under the brand name of Terre Borromeo. Kaleon S.p.A. was formerly known as SAG S.r.l. The company was incorporated in 1983 and is based in Milan, Italy. Kaleon S.p.A. is a subsidiary of L6a4 S.R.L.
Stock analysis
Kaleon (KLN) currently trades at €3.87, while our model-based Fair Value estimate is €2.19, implying the stock looks roughly 76.5% overvalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of €2.40 per share, and 2 of the 14 models we run sit above the €3.87 price.
Bear case: the Earnings-Based group reads lowest at €0.8100, and 12 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: €1.53 (bear) to €2.84 (bull), the price of €3.87 sits above 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 Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kaleon reported revenue of €23.8M in FY2025 versus €21.6M in FY2023, a compound +4.9%/yr. Reported net income was €1.6M in FY2025, compounding −26.7%/yr from FY2023.
Key figures
Market cap €54.6M · P/E ratio 35.1 · P/S ratio 2.30 · EPS (TTM) €0.1100 · Net margin 6.5% · Return on equity 9.6% · Return on assets (EBIT) 14.3% · Operating margin 5.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −43%, KLN screens richer than that median.
Fair Value models
Bear €1.53Fair Value €2.19Bull €2.84
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 (€0.0805 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.
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.41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Travel Services · 88 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−43% · Bottom 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets5% · Above median
Net margin (TTM)7% · Above median
Operating margin (TTM)6% · Below median
Growth and dividend
Revenue growth8% · Above median
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Travel Services median · lower = cheaper
P/E (TTM)35.1× · Pricier than median
P/B2.36× · Pricier than median
P/S (TTM)2.61× · Priciest 25%
EV/EBITDA9.5× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)38· sector 25
PAST (return on equity)38· sector 35
HEALTH (low debt)95· sector 94
DIVIDEND (yield)0· sector 39
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Kaleon Fair Value". https://www.fairvalue-calculator.com/stock/KLN
Frequently asked questions
Is Kaleon (KLN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €2.19 versus a price of €3.87, about −43% upside (overvalued).
What is the fair value of KLN?
Our model-based fair value for Kaleon is €2.19 (as of Sep 23, 2026), built from audited fundamentals. The current price: €3.87.
What is the quality score of KLN?
Kaleon 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 Kaleon (KLN)?
Our model-based price target is the fair value of €2.19 (as of Sep 23, 2026) from 14 valuation models. Cautious scenario €1.53, optimistic scenario €2.84. It is a calculation from audited fundamentals, not an analyst target.
What is the Kaleon stock forecast for 2026?
Our models put fair value at €2.19, about −43% upside versus a price of €3.87 (overvalued). Cautious scenario €1.53, optimistic scenario €2.84. The calculation is refreshed regularly with new filings.
What is the revenue of Kaleon (KLN)?
Kaleon reported trailing-twelve-month revenue of about €23.8M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Kaleon (KLN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kaleon it is €2.19 per share (as of Sep 23, 2026), against a price of €3.87. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Kaleon stock overvalued or undervalued in 2026?
As of Sep 23, 2026, KLN trades above its calculated fair value: price €3.87, fair value €2.19, a gap of about −43% (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 KLN?
No. The price is what the market pays today (€3.87); the fair value is what the company's own numbers justify (€2.19). For Kaleon the two are €1.68 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kaleon worth?
The market values Kaleon at about €54.6M (market capitalisation, as of Sep 23, 2026). Per share that is €3.87; our models calculate a fair value of €2.19 per share.
What do the bullish and bearish scenarios say about KLN?
Our models span a range for Kaleon: cautious scenario €1.53, base €2.19, optimistic €2.84 per share (as of Sep 23, 2026, price €3.87). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KLN?
Kaleon trades at a price-to-earnings ratio of 35.1 (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 €2.19 is built from several models across several years. Other multiples: P/B 2.4, P/S 2.6, EV/EBITDA 9.5.
How solid is the balance sheet of Kaleon (KLN)?
Balance-sheet figures for Kaleon (as of Sep 23, 2026): return on equity 9.6%, debt of 0.10 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
Which stocks are comparable to Kaleon?
From the same area (Consumer Cyclical) we also value Booking Holdings, Airbnb, Inc, Royal Caribbean Cruises Ltd, Viking Holdings, 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 Kaleon stock attractive at the current price?
The data as of Sep 23, 2026: price €3.87, calculated fair value €2.19 (−43%), 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 KLN calculated?
We run Kaleon 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 €2.19, 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. Kaleon 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 Kaleon (KLN)?
The closing price on Sep 24, 2026 was €3.87. Our model-based fair value is €2.19, about −43% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kaleon right now?
The price sits above even our optimistic bull case (€2.84). The favourable scenario is already priced in. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€1.53 to €2.84) leaves room in how you read the outcome.
Key figures of Kaleon
How large is the market capitalisation of Kaleon (KLN)?
The market capitalisation of Kaleon is €54.6M. 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 Kaleon (KLN)?
The price-to-sales ratio of Kaleon is 2.30 (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 Kaleon (KLN)?
Earnings per share at Kaleon are €0.1100 (price ÷ EPS = P/E 35.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kaleon (KLN)?
The net margin of Kaleon is 6.5% (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 Kaleon (KLN)?
The return on equity (ROE) of Kaleon is 9.6% (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 Kaleon (KLN)?
On an EBIT basis the return on assets of Kaleon is 14.3% (avg 3y). 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 Kaleon (KLN)?
The operating margin of Kaleon is 5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kaleon (KLN)?
Revenue at Kaleon is growing +7.6% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Kaleon (KLN) generate?
The free cash flow of Kaleon is −€2.6M (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 Kaleon (KLN) carry?
The net debt of Kaleon is €12.7M (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Kaleon in the live analysis
One click puts Kaleon on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
