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Lemon Sistemi (LS) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Lemon Sistemi stock €0.29, price €1.33, that is 78.2% below the price, quality 37 out of 100. Rating: strongly overvalued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.

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Technology IT · ISIN IT0005573438

LS Lemon Sistemi logo Thin data Nov 7, 2026

Lemon Sistemi

LS · MI
Very expensive, weak quality

Our calculation puts a fair price 78% below what the stock costs today.

Low debt
Ranks above peers (7/11)
Loss over the last twelve months · -1.8% net margin (TTM) · fiscal year 2025 0.0%
Profit last quarter 37% below a year ago.
Fair value €0.2900 · Strongly overvalued
Quality 37/100
Weak Growth (revenue 3y −16.3 %/yr in EUR)
Negative free cash flow
Narrow moat 23/100
Thin data
⚠ Small free float
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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

€3.00 €1.23 Fair Value €0.2900 Dec 2023 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

34‑month range €1.23 – €3.00 · fair‑value band €0.1900 – €0.3600 · the €1.33 price screens above the €0.2900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Lemon Sistemi S.p.A. designs, constructs, and installs photovoltaic systems and solar thermal systems.

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It engages in the design and implementation of B2C and B2B photovoltaic systems; and the design and construction of photovoltaic parks, as well as engages in co-development activities for utility-scale battery energy storage systems (BESS). The company was founded in 2009 and is based in Balestrate, Italy.

Stock analysis

Lemon Sistemi (LS) currently trades at €1.33, while our model-based Fair Value estimate is €0.2900, 78% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €0.7450 per share, and 1 of the 9 models we run sit above the €1.33 price.

Bear case: the Earnings-Based group reads lowest at €0.0900, and 8 of the 9 models stay below the price. Data coverage for this calculation is low.

Scenario range: €0.1900 (bear) to €0.3600 (bull), the price of €1.33 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 37/100 (below-average quality), in the Technology sector.

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

Lemon Sistemi reported revenue of €7.4M in FY2025 versus €4.8M in FY2021, a compound +11.8%/yr. Reported net income was €2.0K in FY2025, compounding −78.8%/yr from FY2021.

Key figures

Market cap €11.5M Micro · P/S ratio 1.14 · EPS (TTM) €−0.0200 · Net margin −1.8% · Return on equity −2.3% · Return on assets (EBIT) 15.8% (5-year average) · Operating margin 14.0% · Revenue (TTM) €9.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (medium confidence).

What moves the price

The share trades about 28% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −78%, LS screens richer than that median.

Fair Value models

Bear €0.1900 Fair Value €0.2900 Bull €0.3600
Price €1.33 · Downside -78.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
EPV €0.1200 €0.1700 €0.2200 71
ROIC Compounder €0.1200 €0.1700 €0.2200 69
Residual Income €0.4400 €0.4700 €0.5300 68
All 11 models by family
Earnings-Based
Graham-Dodd n/a €0.0100 €0.0100 62
EPV €0.1200 €0.1700 €0.2200 71
Multiples
P/E Multiple n/a n/a €0.0100 58
P/B Multiple €2.60 €3.47 €4.33 55
EV/EBIT €0.3600 €0.5900 €0.8300 64
EV/EBITDA €0.5900 €0.9000 €1.21 66
EV/Revenue €0.1600 €0.3700 €0.5900 50
Asset-Based
NCAV (Graham) €0.1900 €0.2900 €0.3600 55
Economic Profit
Residual Income €0.4400 €0.4700 €0.5300 68
ROIC Compounder €0.1200 €0.1700 €0.2200 69
Growth Earnings
Growth-Adj P/E n/a n/a €0.0100 61

Open the full fair value analysis →

Quality Score breakdown

Overall quality 37/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 24
How much profit the company makes from its sales and capital
Quality Growth 100
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 38
Debt, balance sheet and risk of trouble
Investment 4
Does it invest with discipline instead of growing at any price?
Low Volatility 64
How calm the share price moves, does not count
Price momentum 14
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 9
Distance to the 52-week high, does not count
New shares 71
Buys back shares or issues new ones?

Open the full quality analysis →

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. 20/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+45.3%
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.
−16.3%
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.
−71.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−71.1%
Dividend (yield on the price)0.0%
Profit margin 2021 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.30% → 6%

LS screens overvalued: fair value 78% below the price. Compare with First Solar, Inc →

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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.Solar · 97 stocks

Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 37 · Below median
Fair Value upside −78.2% · Bottom 25%
Profitability
Return on assets 0.0% · Above median
Net margin (12 months) −1.8% · Below median
Operating margin (12 months) 14.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 181.1% · Top 25%
Balance sheet
Debt / equity 0.35× · Below median

Valuation Multiplesvs Solar median · lower = cheaper

P/B 1.57× · Cheaper than median
P/S (12 months) 1.18× · Cheaper than median
EV/EBITDA 9.4× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 4
FUTURE (revenue growth)100 · sector 7
PAST (return on equity)0 · sector 0
HEALTH (low debt)82 · sector 82
DIVIDEND (yield)0 · sector 26

VALUE 0: the price sits above our fair-value range.

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 Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
First Solar, Inc FSLR $201.14 $392.02 +95% vs LS
Hengdian Group 002056 ¥17.29 ¥31.86 +84% vs LS
Waaree Energies Limited WAAREEENER ₹2,438 ₹3,613 +48% vs LS
Jinko Solar Co 688223 ¥4.38 ¥6.49 +48% vs LS
Nextpower Inc NXT $104.91 $115.40 +10% vs LS
Premier Energies Limited PREMIERENE ₹890.00 ₹908.90 +2% vs LS
Tongwei Co 600438 ¥12.25 ¥12.13 −1% vs LS
Hanwha Solutions Corporation 009830 26,050 KRW 21,850 KRW −16% vs LS
CSI Solar Co 688472 ¥9.03 ¥5.85 −35% vs LS
Shanghai Aiko Solar Energy Co 600732 ¥13.40 ¥7.22 −46% vs LS

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Lemon Sistemi: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Lemon Sistemi Fair Value". https://www.fairvalue-calculator.com/stock/LS

Frequently asked questions

Is Lemon Sistemi (LS) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €0.2900 versus a price of €1.33, about 78% lower (overvalued).
What is the fair value of LS?
Our model-based fair value for Lemon Sistemi is €0.2900 (as of Nov 7, 2026), built from audited fundamentals. The current price: €1.33.
What is the quality score of LS?
Lemon Sistemi has a Quality Score of 37/100. 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 Lemon Sistemi (LS)?
Our model-based price target is the fair value of €0.2900 (as of Nov 7, 2026) from 11 valuation models. Cautious scenario €0.1900, optimistic scenario €0.3600. It is a calculation from audited fundamentals, not an analyst target.
What is the Lemon Sistemi stock forecast for 2026?
Our models put fair value at €0.2900, about 78% lower versus a price of €1.33 (overvalued). Cautious scenario €0.1900, optimistic scenario €0.3600. The calculation is refreshed regularly with new filings.
What is the revenue of Lemon Sistemi (LS)?
Lemon Sistemi reported trailing-twelve-month revenue of about €9.7M (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Lemon Sistemi (LS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lemon Sistemi it is €0.2900 per share (as of Nov 7, 2026), against a price of €1.33. It is the blended result of 11 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Lemon Sistemi stock overvalued or undervalued in 2026?
As of Nov 7, 2026, LS trades above its calculated fair value: price €1.33, fair value €0.2900, a gap of about −78% (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 LS?
No. The price is what the market pays today (€1.33); the fair value is what the company's own numbers justify (€0.2900). For Lemon Sistemi the two are €1.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lemon Sistemi worth?
The market values Lemon Sistemi at about €11.5M (market capitalisation, as of Nov 7, 2026). Per share that is €1.33; our models calculate a fair value of €0.2900 per share.
What do the bullish and bearish scenarios say about LS?
Our models span a range for Lemon Sistemi: cautious scenario €0.1900, base €0.2900, optimistic €0.3600 per share (as of Nov 7, 2026, price €1.33). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Lemon Sistemi (LS)?
Balance-sheet figures for Lemon Sistemi (as of Nov 7, 2026): return on equity −2.3%, debt of 0.35 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is LS from its 52-week high?
Lemon Sistemi trades at €1.33, about 28% below its 52-week high of €1.86 and 8% above the low of €1.23 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €0.2900 is for.
Which stocks are comparable to Lemon Sistemi?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, 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 Lemon Sistemi stock attractive at the current price?
The data as of Nov 7, 2026: price €1.33, calculated fair value €0.2900 (−78%), Quality Score 37/100, from 11 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 LS calculated?
We run Lemon Sistemi through 11 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €0.2900 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Lemon Sistemi 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 Lemon Sistemi (LS)?
The closing price on Nov 6, 2026 was €1.33. Our model-based fair value is €0.2900, about 78% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lemon Sistemi right now?
The price sits above even our optimistic bull case (€0.3600). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (€0.1900 to €0.3600) leaves room in how you read the outcome.

Key figures of Lemon Sistemi

How large is the market capitalisation of Lemon Sistemi (LS)?
The market capitalisation of Lemon Sistemi is €11.5M. 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 Lemon Sistemi (LS)?
The price-to-sales ratio of Lemon Sistemi is 1.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lemon Sistemi (LS)?
Earnings per share at Lemon Sistemi are €−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Lemon Sistemi (LS)?
The net margin of Lemon Sistemi is −1.8% (last twelve months). 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 Lemon Sistemi (LS)?
The return on equity (ROE) of Lemon Sistemi is −2.3% (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 Lemon Sistemi (LS)?
On an EBIT basis the return on assets of Lemon Sistemi is 15.8% (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 Lemon Sistemi (LS)?
The operating margin of Lemon Sistemi is 14.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lemon Sistemi (LS)?
Revenue at Lemon Sistemi is growing +181% versus a year earlier (3y avg −16.3%). 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 Lemon Sistemi (LS)?
Earnings per share at Lemon Sistemi are growing −36.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Lemon Sistemi (LS) generate?
The free cash flow of Lemon Sistemi is −€1.6M (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 Lemon Sistemi (LS) carry?
The net debt of Lemon Sistemi is €2.9M (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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