Kaleon S.p.A (KLN) Fair Value & Analysis
Consumer Cyclical · IT · Market cap €56.1M
Fair value as of: Jul 17, 2026
From 14 valuation models · updated 25 days ago
Share price −2.2% over the past month.
Below-average quality, and screening another 49% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€2.61). 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.
Price vs Fair Value (8 months)
White line = price, green steps = our fair value per fiscal year. As of Jul 17, 2026.
How to read this chart
8‑month range €3.85 – €4.45 · fair‑value band €1.61 – €2.61 · the €3.96 price screens above the €2.01 fair value. As of Jul 17, 2026.
Analysis
Kaleon S.p.A (KLN) currently trades at €3.96, while our model-based Fair Value estimate is €2.01, implying the stock looks roughly 49.2% overvalued today. The Quality Score stands at 47/100 (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: medium).
Over the trailing twelve months, Kaleon S.p.A generated revenue of €23.8M at a net margin of 6.5%. Revenue grew 7.6% year over year. It earns a return on equity of 9.6%. Net debt stands at €12.7M. Fundamentals as of Jul 17, 2026
Our scenario range runs from €1.61 (bear case) to €2.61 (bull case); at €3.96, 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 16% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -16% fair-value upside, at -49%, KLN 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.
All 14 models by family
Widest divergence: Multiples (€2.20) versus Earnings-Based (€0.8100). Highest evidence: ROIC Compounder (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 49
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2023 – FY2025 · reported fiscal years
Kaleon S.p.A 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.
KLN screens 49% overvalued. Compare with Booking Holdings →
Peer Group
Travel Services · 90 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.
Valuation Multiples vs Travel Services median · lower = cheaper
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: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Travel Services stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Booking Holdings BKNG | $182.80 | $152.94 | -16% |
| Airbnb, Inc ABNB | $148.62 | $57.47 | -61% |
| Royal Caribbean Cruises Ltd RCL | $286.96 | $215.19 | -25% |
| Viking Holdings VIK | $100.69 | $43.51 | -57% |
| Carnival Corporation CCL | $26.41 | $31.36 | +19% |
| Expedia Group EXPE | $268.77 | $248.63 | -7% |
| Trip.com Group TCOM | $42.45 | $88.82 | +109% |
| Norwegian Cruise Line Holdings NCLH | $19.46 | $20.28 | +4% |
| Global Business Travel Group GBTG | $9.40 | $4.17 | -56% |
| Travel + Leisure Co TNL | $73.27 | $27.29 | -63% |
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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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