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RCS MediaGroup S.p.A (RCS) Fair Value & Analysis

Communication Services · IT · Market cap €488M

RM RCS MediaGroup S.p.A RCS · MI
Price€0.9350
Fair Value€2.12
Upside+126.7%
Quality66/100
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Weak Growth
Thin margins · 7.0% net margin
Low debt · generates free cash flow
Ranks above peers (9/15)
Moderate moat 45/100
Evidence: High Range €1.44 – €2.91 Share as image

Fair value as of: Jul 24, 2026

From 24 valuation models · updated 17 days ago

Share price −1.4% over the past month.

A solid business, screening 127% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€1.44). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€1.44 to €2.91) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€1.02 €0.4470 Fair Value €2.12 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range €0.4470 – €1.02 · fair‑value band €1.44 – €2.91 · the €0.9350 price screens below the €2.12 fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

RCS MediaGroup S.p.A (RCS) currently trades at €0.9350, while our model-based Fair Value estimate is €2.12, implying the stock looks roughly 126.7% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Communication Services 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, RCS MediaGroup S.p.A generated revenue of €788M at a net margin of 7.0%. Revenue grew 0.4% year over year. It earns a return on equity of 12.2%. Net debt stands at €112M. Fundamentals as of Jul 24, 2026

Our scenario range runs from €1.44 (bear case) to €2.91 (bull case); at €0.9350, the current price sits below 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 7% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 9% fair-value upside, at 127%, RCS 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 BearBaseBull Evidence
Highest evidence
Growth DCF €1.23 €1.56 €2.07 80
Residual Income €0.7800 €0.8700 €1.21 76
Rev-Margin DCF €1.37 €2.04 €2.86 74
All 24 models by family
DCF Models
FCF DCF €1.19 €1.54 €2.12 38
Owner Earnings €1.35 €1.75 €2.42 31
5Y Revenue Exit €1.37 €2.01 €2.94 39
5Y EBITDA Exit €1.75 €2.66 €3.87 41
5Y P/E Exit €1.39 €2.03 €2.81 38
10Y Revenue Exit €1.25 €1.68 €2.15 36
10Y EBITDA Exit €1.49 €2.05 €2.65 37
10Y P/E Exit €1.29 €1.70 €2.08 35
Earnings-Based
Graham-Dodd €0.7200 €0.8800 €0.9900 54
EPV €1.24 €1.41 €1.55 59
Dividend Discount
Gordon GGM €0.5500 €0.5900 €0.6500 70
DDM Multi-Stage €0.5500 €0.6500 €0.7800 61
Multiples
P/E Multiple €1.75 €2.33 €2.91 63
P/S Multiple €1.35 €1.80 €2.25 58
P/B Multiple €1.35 €1.80 €2.25 55
EV/EBIT €2.16 €2.87 €3.58 53
EV/EBITDA €2.54 €3.38 €4.21 54
EV/Revenue €1.65 €2.34 €3.03 43
Asset-Based
NCAV (Graham) €0.4400 €0.6000 €0.8900 50
Growth DCF
Growth DCF €1.23 €1.56 €2.07 80
Rev-Margin DCF €1.37 €2.04 €2.86 74
Economic Profit
Residual Income €0.7800 €0.8700 €1.21 76
ROIC Compounder €1.24 €1.45 €1.64 72
Growth Earnings
Growth-Adj P/E €1.23 €1.76 €2.29 68

Widest divergence: Multiples (€2.33) versus Dividend Discount (€0.5900). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €788M
Revenue growth (YoY) +0.4%
Net margin 7.0%
Return on equity 12.2%
Free cash flow €73.2M FY2025
P/E ratio 8.6
More key figures
Operating margin 0.5%
EPS (TTM) €0.1100
EPS growth (YoY) -26.4%
Net debt €112M FY2023

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 59

Profitability 50
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 82
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

RCS MediaGroup S.p.A. operates as a multimedia publishing company in Italy, Spain, and internationally. The company publishes Corriere della Sera and La Gazzetta dello Sport for national and sport dailies; local editions, and weekly and monthly magazines, including Amica, Dove, Oggi, and Abitare; supplements and inserts, such as La Lettura, L'Economia, 7, …

Full company description

RCS MediaGroup S.p.A. operates as a multimedia publishing company in Italy, Spain, and internationally. The company publishes Corriere della Sera and La Gazzetta dello Sport for national and sport dailies; local editions, and weekly and monthly magazines, including Amica, Dove, Oggi, and Abitare; supplements and inserts, such as La Lettura, L'Economia, 7, Style Magazine, Living, Cook, iO Donna, and SportWeek; El Mundo, Marca, Expansión, Telva, Yo Dona, and Fuera de Serie. It is also involved in organizing world sporting events, which include Giro d'Italia, Milano-Sanremo, Il Lombardia, Tirreno Adriatico, UAE Tour, and Milano Marathon; printing and online activities, and direct marketing and trade fairs for the early childhood segment under the Sfera brand; and fiction, non-fiction, children's books, and miscellaneous books under the Solferino, Cairo, and Fuoriscena brands. In addition, the company engages in the operation of book publishing under the La Esfera de los Libros brand; training areas under the RCS Academy Business School, Escuela de Unidad Editorial (ESUE), and Expansión Business School brands; newspaper printing; and operation of elmundo.es, marca.com, and expansión.com. Further, it provides cross-media and multi-target solutions; events, digital branded content, and television branded content; Caccia and Pesca for satellite and over the top TV channels; sports radio under the Radio Marca brand; and Veo7, a free-to-air digital terrestrial television channel dedicated mainly to series and cinema. The company was formerly known as Holding di Partecipazioni Industriali S.p.A. and changed its name to RCS MediaGroup S.p.A. in 2003. The company was incorporated in 1997 and is headquartered in Milan, Italy. RCS MediaGroup S.p.A. operates as a subsidiary of Cairo Communication S.p.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

RCS MediaGroup S.p.A reported revenue of €788M in FY2025 versus €846M in FY2021, a compound −1.8%/yr. Reported net income was €54.8M in FY2025, compounding −6.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€788M
Latest YoY
−3.8%
Avg. growth/yr (3Y)
−2.3%
Avg. growth/yr (5Y)
+1.0%
Avg. growth/yr (23Y)
−4.4%
Revenue −1.8%/yr
FY21 €846M
FY22 €845M
FY23 €828M
FY24 €819M
FY25 €788M
Net income −6.7%/yr
FY21 €72.4M
FY22 €50.1M
FY23 €57.0M
FY24 €62.0M
FY25 €54.8M

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

Peer Group

Publishing · 110 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 66 · Above median
Fair Value upside +127% · Top 25%
Return on equity (TTM) 12% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 0% · Below median
Revenue growth 0% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.05× · Higher than median

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 8.6× · Cheaper than 75% of peers
P/B 1.23× · Pricier than median
P/S (TTM) 0.72× · Pricier than median
P/FCF 7.7× · Pricier than median
EV/EBITDA 4.5× · Cheaper than median
PEG 0.97× · Cheaper than median

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 100 · sector 39
FUTURE 2 · sector 0
PAST 49 · sector 21
HEALTH 97 · sector 99
DIVIDEND 0 · sector 57

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.

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Frequently asked questions

Is RCS MediaGroup S.p.A (RCS) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of €2.12 versus a price of €0.9350, about +127% (undervalued).
What is the fair value of RCS?
Our model-based fair value for RCS MediaGroup S.p.A is €2.12 (as of Jul 24, 2026), built from audited fundamentals. The current price is €0.9350.
What is the quality score of RCS?
RCS MediaGroup S.p.A has a Quality Score of 66/100. 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 RCS MediaGroup S.p.A (RCS)?
RCS MediaGroup S.p.A reported trailing-twelve-month revenue of about €788M (latest available figure, as of Jul 24, 2026).
What is the net profit margin of RCS?
The net profit margin of RCS MediaGroup S.p.A is about 7.0%, meaning it keeps roughly 7.0% 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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