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Neodecortech S.p.A (NDT) Fair Value & Analysis

Basic Materials · IT · Market cap €59.0M

NS Neodecortech S.p.A NDT · MI
Price€5.56
Fair Value€5.76
Upside+3.6%
Quality57/100
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Healthy Growth
Thin margins · 6.3% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Moderate moat 46/100
Evidence: High Range €3.60 – €8.04 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 19, 2026, revised from €7.76 to €5.76 (−25.8%) since Jun 24, 2026. Share price +15.6% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€3.60 to €8.04) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€5.56 €2.31 Fair Value €5.76 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €2.31 – €5.56 · fair‑value band €3.60 – €8.04 · the €5.56 price screens below the €5.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Neodecortech S.p.A (NDT) currently trades at €5.56, while our model-based Fair Value estimate is €5.76, implying the stock looks roughly 3.6% fairly valued today. The Quality Score stands at 57/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Neodecortech S.p.A generated revenue of €192M at a net margin of 6.3%. Revenue grew 11.1% year over year. It earns a return on equity of 14.0%. Net debt stands at €30.2M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €3.60 (bear case) to €8.04 (bull case); at €5.56, the current price sits within 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 near its 52-week high and 107% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 0% fair-value upside, at 4%, NDT screens cheaper 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 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
Highest evidence
Growth DCF €3.59 €4.82 €6.22 80
Residual Income €4.77 €4.92 €4.98 76
Rev-Margin DCF €4.94 €8.11 €11.64 74
All 26 models by family
DCF Models
FCF DCF €3.56 €4.96 €6.65 38
Owner Earnings €1.11 €1.65 €2.31 31
5Y Revenue Exit €4.94 €8.10 €12.08 39
5Y EBITDA Exit €6.88 €11.64 €17.11 41
5Y P/E Exit €4.66 €7.59 €10.58 38
10Y Revenue Exit €4.11 €6.54 €9.70 36
10Y EBITDA Exit €5.31 €8.62 €12.90 37
10Y P/E Exit €4.11 €6.24 €8.74 35
Earnings-Based
Graham-Dodd €3.63 €10.11 €13.29 54
Lynch FV €2.03 €2.90 €3.77 50
PEG = 1.0 €2.03 €2.90 €3.77 46
EPV €4.44 €5.02 €5.50 59
Dividend Discount
Gordon GGM €0.6100 €1.03 €1.33 70
DDM Multi-Stage €0.6100 €0.8800 €1.10 61
Multiples
P/E Multiple €6.81 €9.08 €11.35 63
P/S Multiple €6.81 €9.08 €11.35 58
P/B Multiple €6.81 €9.08 €11.35 55
EV/EBIT €7.52 €10.17 €12.82 53
EV/EBITDA €10.92 €14.71 €18.49 54
EV/Revenue €6.46 €9.42 €12.37 43
Asset-Based
NCAV (Graham) €3.17 €4.24 €6.33 50
Growth DCF
Growth DCF €3.59 €4.82 €6.22 80
Rev-Margin DCF €4.94 €8.11 €11.64 74
Economic Profit
Residual Income €4.77 €4.92 €4.98 76
ROIC Compounder €4.44 €5.02 €5.50 72
Growth Earnings
Growth-Adj P/E €5.54 €7.92 €10.29 68

Widest divergence: Multiples (€9.08) versus Dividend Discount (€0.8800). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €192M
Revenue growth (YoY) +11.1%
Net margin 6.3%
Return on equity 14.0%
Free cash flow €6.8M FY2025
P/E ratio 4.9
More key figures
Operating margin 14.4%
EPS (TTM) €0.8800
EPS growth (YoY) +566%
Net debt €30.2M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 91

Profitability 48
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 81
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

Neodecortech S.p.A. produces and markets decorative papers for the industrial sectors of wood and furnishing accessories in Italy, the rest of Europe, Asia, the Middle East, America, and Africa. It operates through Printed Decorative Paper Division, Decorative Paper Division, Guarcino Energy Division, Casoli Energy Division, and NDT China Division segments.

Full company description

Neodecortech S.p.A. produces and markets decorative papers for the industrial sectors of wood and furnishing accessories in Italy, the rest of Europe, Asia, the Middle East, America, and Africa. It operates through Printed Decorative Paper Division, Decorative Paper Division, Guarcino Energy Division, Casoli Energy Division, and NDT China Division segments. The company offers decorative papers in various categories, including wood, stones and surfaces, fancies and textiles, and flooring. It also engages in the printing and impregnation of paper; printing and finishing of thermoplastic films; and provision of laminate products. In addition, the company owns and operates electrical and thermal energy plants. It sells its products under the Confalonieri, Texte, and Plana brands. The company was formerly known as Confalonieri S.p.A. and changed its name to Neodecortech S.p.A. in July 2017. The company was founded in 1947 and is headquartered in Filago, Italy. Neodecortech S.p.A. operates as a subsidiary of Finanziaria Valentini S.P.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Neodecortech S.p.A reported revenue of €184M in FY2025 versus €179M in FY2021, a compound +0.8%/yr. Reported net income was €7.3M in FY2025, compounding +2.3%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€184M
Latest YoY
+9.2%
Avg. growth/yr (3Y) 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.
−3.3%
Avg. growth/yr (5Y) 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.
+7.3%
Avg. growth/yr (10Y) 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.
+3.9%
Revenue +0.8%/yr
FY21 €179M
FY22 €204M
FY23 €162M
FY24 €169M
FY25 €184M
Net income +2.3%/yr
FY21 €6.7M
FY22 €8.4M
FY23 €2.8M
FY24 €4.1M
FY25 €7.3M

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Cite: Fair Value Calculator (2026). "Neodecortech S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/NDT

Peer Group

Paper & Paper Products · 111 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 57 · Top 25%
Fair Value upside +4% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 6% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 11% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 4.9× · Cheaper than 75% of peers
P/B 0.78× · Pricier than median
P/S (TTM) 0.36× · Cheaper than median
P/FCF 10.1× · Pricier than 75% of peers
EV/EBITDA 2.9× · Cheaper than 75% of peers

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 38 · sector 20
FUTURE 56 · sector 9
PAST 56 · sector 12
HEALTH 88 · sector 91
DIVIDEND 0 · sector 41

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.58 R$3.89 -78%
UPM-Kymmene Oyj UPM €23.45 €15.47 -34%
Suzano S.A SUZB3 R$41.70 R$138.01 +231%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 103.00 kr 49.40 -52%
Shandong Sunpaper Co 002078 ¥14.13 ¥17.29 +22%
Holmen AB HOLMB kr 305.40 kr 217.72 -29%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.55 HK$8.73 +16%
Empresas CMPC S.A CMPC 1,078 CLP 1,269 CLP +18%
Xianhe Co 603733 ¥21.09 ¥21.06 -0%
Billerud AB BILL kr 68.70 kr 48.60 -29%

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Frequently asked questions

Is Neodecortech S.p.A (NDT) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €5.76 versus a price of €5.56, about +4% (fairly valued).
What is the fair value of NDT?
Our model-based fair value for Neodecortech S.p.A is €5.76 (as of Jul 19, 2026), built from audited fundamentals. The current price is €5.56.
What is the quality score of NDT?
Neodecortech S.p.A has a Quality Score of 57/100. 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 revenue of Neodecortech S.p.A (NDT)?
Neodecortech S.p.A reported trailing-twelve-month revenue of about €192M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of NDT?
The net profit margin of Neodecortech S.p.A is about 6.3%, meaning it keeps roughly 6.3% 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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