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Maps SpA (MAPS) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Maps SpA €1.17, price €2.40, upside -51.3%, quality 39 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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Technology · IT · ISIN IT0005364333

MS Some data Sep 23, 2026

Maps SpA

MAPS · MI

Weakest SetupStrongly overvalued and low quality.

!Fair value €1.17 · Strongly overvalued (−51%)
!Quality 39/100
!Expensive Growth (revenue 5y +8.3 %/yr)
!Thin margins · 1.7% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (4/12)
!Narrow moat 25/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 9 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€4.43 €2.29 Fair Value €1.17 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 €2.29 – €4.43 · fair‑value band €0.8200 – €1.52 · the €2.40 price screens above the €1.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Maps S.p.A., a software solution provider, designs and develops technological solutions to support decision-making processes in public and private businesses and organizations. The company is involved in research, analyzing, interpreting, and transforming data solutions.

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Maps S.p.A., a software solution provider, designs and develops technological solutions to support decision-making processes in public and private businesses and organizations. The company is involved in research, analyzing, interpreting, and transforming data solutions. It offers ROSE, an energy management system that manages energy resources; Clinika, a semantics-based processing tool for clinical data; GZoom, a value governance solution; and HealthData Flows, which monitors various health facility management data. Maps S.p.A. was founded in 2002 and is headquartered in Parma, Italy.

Stock analysis

Maps SpA (MAPS) currently trades at €2.40, while our model-based Fair Value estimate is €1.17, implying the stock looks roughly 105.1% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of €1.35 per share, and 2 of the 14 models we run sit above the €2.40 price.

Bear case: the Earnings-Based group reads lowest at €0.6700, and 12 of the 14 models stay below the price. Evidence for this calculation is medium.

Scenario range: €0.8200 (bear) to €1.52 (bull), the price of €2.40 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 39/100 (below-average quality), in the Technology sector.

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

Maps SpA reported revenue of €30.3M in FY2025 versus €24.1M in FY2021, a compound +5.9%/yr. Reported net income was €571K in FY2025, compounding −31.0%/yr from FY2021.

Key figures

Market cap €35.5M · P/E ratio 60.0 · P/S ratio 1.13 · EPS (TTM) €0.0400 · Net margin 1.9% · Return on equity 2.2% · Return on assets (EBIT) 3.3% · Operating margin 2.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 34% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −14% fair-value upside, at −51%, MAPS screens richer than that median.

Fair Value models

Bear €0.8200 Fair Value €1.17 Bull €1.52
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 (€0.0294 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
EPV €0.8500 €1.01 €1.15 74
ROIC Compounder €0.8500 €1.01 €1.15 72
Residual Income €1.41 €1.33 €1.04 71
All 14 models by family
Earnings-Based
Graham-Dodd €0.3000 €1.68 €2.34 63
Lynch FV €0.4700 €0.6700 €0.8800 61
PEG = 1.0 €0.4700 €0.6700 €0.8800 57
EPV €0.8500 €1.01 €1.15 74
Multiples
P/E Multiple €0.9200 €1.23 €1.54 63
P/S Multiple €0.5600 €0.7500 €0.9300 58
P/B Multiple €0.5600 €0.7500 €0.9300 55
EV/EBIT €2.10 €2.87 €3.64 66
EV/EBITDA €2.50 €3.41 €4.31 67
EV/Revenue €0.9600 €1.46 €1.96 53
Asset-Based
NCAV (Graham) €1.01 €1.35 €2.02 54
Economic Profit
Residual Income €1.41 €1.33 €1.04 71
ROIC Compounder €0.8500 €1.01 €1.15 72
Growth Earnings
Growth-Adj P/E €0.8200 €1.17 €1.52 67

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Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 41

Profitability 33
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 59
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. 45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.8%
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.
+45.2%
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.
+8.3%
Start year 2020 (pandemic)
Revenue growth 9 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.
+10.5%
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. Basis: EBIT basis.
−8.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−27% vs −9%, slowing
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.7% → 6%
Start year 2020 (pandemic)

MAPS screens 105% overvalued. Compare with SAP SE →

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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.Software - Application · 721 stocks

Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −52% · Below median
Profitability
Return on equity (TTM) 2% · Below median
Return on assets 2% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 2% · Below median
Growth and dividend
Revenue growth 10% · Above median
Balance sheet
Debt / equity 0.24× · Above median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/E (TTM) 60.0× · Priciest 25%
P/B 1.54× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM) 1.23× · Cheaper than median
EV/EBITDA 16.0× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 27
FUTURE (revenue growth)49 · sector 38
PAST (return on equity)9 · sector 16
HEALTH (low debt)88 · sector 97
DIVIDEND (yield)0 · sector 30

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 Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €184.18 €159.06 −14%
Shopify Inc SHOP $142.34 $64.36 −55%
Uber Technologies, Inc UBER $69.89 $104.82 +50%
Salesforce, Inc CRM $233.28 $344.41 +48%
ServiceNow, Inc NOW $140.78 $154.86 +10%
Cadence Design Systems, Inc CDNS $309.09 $225.14 −27%
Snowflake Inc SNOW $334.81 $75.08 −78%
Datadog, Inc DDOG $251.49 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $263.68 $177.51 −33%

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Frequently asked questions

Is Maps SpA (MAPS) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.17 versus a price of €2.40, about −51% upside (overvalued).
What is the fair value of MAPS?
Our model-based fair value for Maps SpA is €1.17 (as of Sep 23, 2026), built from audited fundamentals. The current price: €2.40.
What is the quality score of MAPS?
Maps SpA has a Quality Score of 39/100. 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 Maps SpA (MAPS)?
Our model-based price target is the fair value of €1.17 (as of Sep 23, 2026) from 14 valuation models. Cautious scenario €0.8200, optimistic scenario €1.52. It is a calculation from audited fundamentals, not an analyst target.
What is the Maps SpA stock forecast for 2026?
Our models put fair value at €1.17, about −51% upside versus a price of €2.40 (overvalued). Cautious scenario €0.8200, optimistic scenario €1.52. The calculation is refreshed regularly with new filings.
What is the revenue of Maps SpA (MAPS)?
Maps SpA reported trailing-twelve-month revenue of about €32.8M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Maps SpA (MAPS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Maps SpA it is €1.17 per share (as of Sep 23, 2026), against a price of €2.40. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Maps SpA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MAPS trades above its calculated fair value: price €2.40, fair value €1.17, a gap of about −51% (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 MAPS?
No. The price is what the market pays today (€2.40); the fair value is what the company's own numbers justify (€1.17). For Maps SpA the two are €1.23 per share apart. That gap is exactly why we show both numbers side by side.
How much is Maps SpA worth?
The market values Maps SpA at about €35.5M (market capitalisation, as of Sep 23, 2026). Per share that is €2.40; our models calculate a fair value of €1.17 per share.
What do the bullish and bearish scenarios say about MAPS?
Our models span a range for Maps SpA: cautious scenario €0.8200, base €1.17, optimistic €1.52 per share (as of Sep 23, 2026, price €2.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MAPS?
Maps SpA trades at a price-to-earnings ratio of 60.0 (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 €1.17 is built from several models across several years. Other multiples: P/B 1.5, P/S 1.2, EV/EBITDA 16.0.
How solid is the balance sheet of Maps SpA (MAPS)?
Balance-sheet figures for Maps SpA (as of Sep 23, 2026): return on equity 2.2%, debt of 0.24 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is MAPS from its 52-week high?
Maps SpA trades at €2.40, about 34% below its 52-week high of €3.65 and 4% above the low of €2.30 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €1.17 is for.
Which stocks are comparable to Maps SpA?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, Inc, 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 Maps SpA stock attractive at the current price?
The data as of Sep 23, 2026: price €2.40, calculated fair value €1.17 (−51%), Quality Score 39/100, 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 MAPS calculated?
We run Maps SpA 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 €1.17, 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 13.0 % above its aggregate fair value. Maps SpA 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 Maps SpA (MAPS)?
The closing price on Sep 24, 2026 was €2.40. Our model-based fair value is €1.17, about −51% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Maps SpA right now?
The price sits above even our optimistic bull case (€1.52). The favourable scenario is already priced in. Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (€0.8200 to €1.52) leaves room in how you read the outcome.

Key figures of Maps SpA

How large is the market capitalisation of Maps SpA (MAPS)?
The market capitalisation of Maps SpA is €35.5M. 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 Maps SpA (MAPS)?
The price-to-sales ratio of Maps SpA is 1.13 (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 Maps SpA (MAPS)?
Earnings per share at Maps SpA are €0.0400 (price ÷ EPS = P/E 60.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Maps SpA (MAPS)?
The net margin of Maps SpA is 1.9% (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 Maps SpA (MAPS)?
The return on equity (ROE) of Maps SpA is 2.2% (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 Maps SpA (MAPS)?
On an EBIT basis the return on assets of Maps SpA is 3.3% (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 Maps SpA (MAPS)?
The operating margin of Maps SpA is 2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Maps SpA (MAPS)?
Revenue at Maps SpA is growing +9.7% versus a year earlier (3y avg +45.2%). 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 Maps SpA (MAPS)?
Earnings per share at Maps SpA are growing −62.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Maps SpA (MAPS) generate?
The free cash flow of Maps SpA is −€2.3M (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 Maps SpA (MAPS) carry?
The net debt of Maps SpA is €7.2M (fiscal year 2023). 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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