Recordati Industria Chimica e Farmaceutica S.p.A. (REC) fair value: what the stock is really worth
We calculate from audited financials what Recordati Industria Chimica e Farmaceutica S.p.A. is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range €31.82 – €58.59 · fair‑value band €37.84 – €90.08 · the €52.85 price screens below the €58.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Recordati Industria Chimica e Farmaceutica S.p.A., together with its subsidiaries, researches, develops, produces, and sells pharmaceuticals in Italy, the United States, Spain, France, Germany, Russia, Ukraine, Turkey, Portugal, North Africa, and internationally. It operates through Specialty and Primary Care; and Rare Diseases segments.
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Recordati Industria Chimica e Farmaceutica S.p.A., together with its subsidiaries, researches, develops, produces, and sells pharmaceuticals in Italy, the United States, Spain, France, Germany, Russia, Ukraine, Turkey, Portugal, North Africa, and internationally. It operates through Specialty and Primary Care; and Rare Diseases segments. The company develops Maapliv for maple syrup urine disease; Isturia for endogenous Cushing's syndrome; Cystadrops treatment of the ocular manifestations of cystinosis; Carbaglu for hyperammonemia due to n-acetyl glutamate synthase deficiency; Qarziba for neuroblastoma patients and patients with relapsed or refractory neuroblastoma; and Fotivda for renal cell carcinoma. It also develops Sylvant for idiopathic multicentric castleman diseases; Caphosol for oral mucositis; ENJAYMO for hemolysis in adults with cold agglutinin disease; Zanidip, Zanipress, Vazkepa, and Logimax for hypertension; Urorec and Avodart for symptoms of benign prostatic hyperplasia; and Livazo for dyslipidemia; Combodart/Duodart; Seloken for angina pectoris, myocardial infarction and cardiac rhythm disorders, as well as hypertension and functional heart disorders. In addition, the company offers Procto-Glyveno for internal and external hemorrhoids; Polydexa, Isofra, and Otofa for ear, nose and throat infections; Isturisa, for Cushing's syndrome; Normosang, human hemin; Juxtapid, homozygous familial hypercholesterolemia;Ledaga, mycosis fungoides, T-cell cutaneous lymphoma;Tergynan, an anti-infective for gynecological infections; CitraFleet and Phosphosoda as bowel cleansers; Lomexin for gynecological and dermatological infections; Hexaspray, treatments for the oral cavity; Magnesio Supremo, a dietary supplement; Reaglia for schizophrenia; Eligard for hormone-dependent prostate cancer; and pasireotide in Phase II trial for patients with post-bariatric hypoglycemia, as well as other products. The company was founded in 1926 and is headquartered in Milan, Italy.
Stock analysis
Recordati Industria Chimica e Farmaceutica S.p.A. (REC) currently trades at €52.85, while our model-based Fair Value estimate is €58.03, implying the stock looks roughly 8.9% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €48.10 per share, and 6 of the 24 models we run sit above the €52.85 price.
Bear case: the Asset-Based group reads lowest at €6.28, and 18 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €37.84 (bear) to €90.08 (bull), the price of €52.85 sits inside 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 72/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Recordati Industria Chimica e Farmaceutica S.p.A. reported revenue of €2.6B in FY2025 versus €1.6B in FY2021, a compound +13.5%/yr. Reported net income was €444M in FY2025, compounding +3.5%/yr from FY2021.
Key figures
Market cap €10.8B · P/E ratio 23.4 · P/S ratio 3.96 · EPS (TTM) €2.26 · Dividend yield 2.5% · Net margin 16.9% · Return on equity 23.4% · Return on assets (EBIT) 13.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (medium confidence).
What moves the price
The share trades about 2% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −1% fair-value upside, at 10%, REC screens cheaper than that median.
Fair Value models
Bear €37.84Fair Value €58.03Bull €90.08
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 (€0.7812 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.
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.97/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.8%
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.
+12.2%
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.
+12.6%
Revenue growth 22 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.
+7.9%
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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.
+6.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.2%
Dividend (yield on the price)2.5%
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.4% 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.32% → 28%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.4%
Yearly growth needed for the next five years to justify today's price.
News mood ⓘNews mood, the average tone of recent news (92 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Compare Recordati Industria Chimica e Farmaceutica S.p.A. with another stock
Price, fair value, quality and upside side by side.
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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.Drug Manufacturers - General · 73 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Above median
Fair Value upside−15% · Above median
Profitability
Return on equity (TTM)25% · Top 25%
Return on assets10% · Top 25%
Net margin (TTM)18% · Above median
Operating margin (TTM)29% · Above median
Growth and dividend
Revenue growth8% · Above median
Dividend yield (TTM)2.5% · Above median
Balance sheet
Debt / equity0.49× · Highest 25%
Valuation Multiplesvs Drug Manufacturers - General median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Recordati Industria Chimica e Farmaceutica S.p.A. Fair Value". https://www.fairvalue-calculator.com/stock/REC
Frequently asked questions
Is Recordati Industria Chimica e Farmaceutica S.p.A. (REC) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of €58.03 versus a price of €52.85, about +10% upside (fairly valued).
What is the fair value of REC?
Our model-based fair value for Recordati Industria Chimica e Farmaceutica S.p.A. is €58.03 (as of Sep 18, 2026), built from audited fundamentals. The current price: €52.85.
What is the quality score of REC?
Recordati Industria Chimica e Farmaceutica S.p.A. has a Quality Score of 72/100. 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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
Our model-based price target is the fair value of €58.03 (as of Sep 18, 2026) from 24 valuation models. Cautious scenario €37.84, optimistic scenario €90.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Recordati Industria Chimica e Farmaceutica S.p.A. stock forecast for 2026?
Our models put fair value at €58.03, about +10% upside versus a price of €52.85 (fairly valued). Cautious scenario €37.84, optimistic scenario €90.08. The calculation is refreshed regularly with new filings.
What is the revenue of Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
Recordati Industria Chimica e Farmaceutica S.p.A. reported trailing-twelve-month revenue of about €2.7B (latest available figure, as of Sep 18, 2026).
Does Recordati Industria Chimica e Farmaceutica S.p.A. pay a dividend?
Recordati Industria Chimica e Farmaceutica S.p.A. currently shows a dividend yield of about 2.46% relative to its recent price (as of Sep 18, 2026).
What growth is priced into Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
For today's price to be fair in a discounted-cash-flow model, Recordati Industria Chimica e Farmaceutica S.p.A. would have to grow free cash flow by +12.4 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.6 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of REC use?
Our models discount Recordati Industria Chimica e Farmaceutica S.p.A. at 10.1 %: a base by market capitalisation (large), damped by beta 0.53, country premium for Italy. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Recordati Industria Chimica e Farmaceutica S.p.A. that is +12.4 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Recordati Industria Chimica e Farmaceutica S.p.A. (REC) delivered so far?
Over the past 5 years revenue at Recordati Industria Chimica e Farmaceutica S.p.A. grew +12.6 % a year. The price currently implies +12.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Recordati Industria Chimica e Farmaceutica S.p.A. (REC) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into Recordati Industria Chimica e Farmaceutica S.p.A. (+12.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The free-cash-flow yield on the price is 4.75 %: that much free cash flow Recordati Industria Chimica e Farmaceutica S.p.A. produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Recordati Industria Chimica e Farmaceutica S.p.A. it is €58.03 per share (as of Sep 18, 2026), against a price of €52.85. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Recordati Industria Chimica e Farmaceutica S.p.A. stock overvalued or undervalued in 2026?
As of Sep 18, 2026, REC trades below its calculated fair value: price €52.85, fair value €58.03, a gap of about +10% (fairly valued). 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 REC?
No. The price is what the market pays today (€52.85); the fair value is what the company's own numbers justify (€58.03). For Recordati Industria Chimica e Farmaceutica S.p.A. the two are €5.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Recordati Industria Chimica e Farmaceutica S.p.A. worth?
The market values Recordati Industria Chimica e Farmaceutica S.p.A. at about €10.8B (market capitalisation, as of Sep 18, 2026). Per share that is €52.85; our models calculate a fair value of €58.03 per share.
What do the bullish and bearish scenarios say about REC?
Our models span a range for Recordati Industria Chimica e Farmaceutica S.p.A.: cautious scenario €37.84, base €58.03, optimistic €90.08 per share (as of Sep 18, 2026, price €52.85). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of REC?
Recordati Industria Chimica e Farmaceutica S.p.A. trades at a price-to-earnings ratio of 23.4 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €58.03 is built from several models across several years. Other multiples: PEG 1.8, P/B 6.5, P/S 4.6, EV/EBITDA 12.9.
What is the PEG ratio of REC?
The PEG ratio of Recordati Industria Chimica e Farmaceutica S.p.A. is 1.77 (P/E divided by earnings growth, as of Sep 18, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
Balance-sheet figures for Recordati Industria Chimica e Farmaceutica S.p.A. (as of Sep 18, 2026): return on equity 24.9%, debt of 0.49 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is REC from its 52-week high?
Recordati Industria Chimica e Farmaceutica S.p.A. trades at €52.85, about 2% below its 52-week high of €53.71 and 22% above the low of €43.16 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of €58.03 is for.
Which stocks are comparable to Recordati Industria Chimica e Farmaceutica S.p.A.?
From the same area (Healthcare) we also value Eli Lilly and Company, Johnson & Johnson,, AbbVie Inc, Roche Holding, 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 Recordati Industria Chimica e Farmaceutica S.p.A. stock attractive at the current price?
The data as of Sep 18, 2026: price €52.85, calculated fair value €58.03 (+10%), Quality Score 72/100, from 24 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 REC calculated?
We run Recordati Industria Chimica e Farmaceutica S.p.A. through 24 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 €58.03, 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 16.1 % above its aggregate fair value. Recordati Industria Chimica e Farmaceutica S.p.A. currently trades 10 % below its own fair value, and the market average says nothing about that. 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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The closing price on Sep 21, 2026 was €52.85. Our model-based fair value is €58.03, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Recordati Industria Chimica e Farmaceutica S.p.A. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€37.84 to €90.08) leaves room in how you read the outcome.
Where does the earnings growth of Recordati Industria Chimica e Farmaceutica S.p.A. (REC) come from?
Earnings per share at Recordati Industria Chimica e Farmaceutica S.p.A. grew +8.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.3 %, EBIT margin +0.6 %, tax rate +0.3 %, residual (interest, one-offs) −1.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Recordati Industria Chimica e Farmaceutica S.p.A.
How large is the market capitalisation of Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The market capitalisation of Recordati Industria Chimica e Farmaceutica S.p.A. is €10.8B. 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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The price-to-sales ratio of Recordati Industria Chimica e Farmaceutica S.p.A. is 3.96 (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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
Earnings per share at Recordati Industria Chimica e Farmaceutica S.p.A. are €2.26 (price ÷ EPS = P/E 23.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The dividend yield of Recordati Industria Chimica e Farmaceutica S.p.A. is 2.5% (payout 57.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The net margin of Recordati Industria Chimica e Farmaceutica S.p.A. is 16.9% (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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The return on equity (ROE) of Recordati Industria Chimica e Farmaceutica S.p.A. is 23.4% (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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
On an EBIT basis the return on assets of Recordati Industria Chimica e Farmaceutica S.p.A. is 13.7% (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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
The operating margin of Recordati Industria Chimica e Farmaceutica S.p.A. is 32.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
Revenue at Recordati Industria Chimica e Farmaceutica S.p.A. is growing +4.9% versus a year earlier (3y avg +12.2%). 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 Recordati Industria Chimica e Farmaceutica S.p.A. (REC)?
Earnings per share at Recordati Industria Chimica e Farmaceutica S.p.A. are growing +22.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Recordati Industria Chimica e Farmaceutica S.p.A. (REC) carry?
The net debt of Recordati Industria Chimica e Farmaceutica S.p.A. is €2.0B (fiscal year 2025, ≈ 4.0 yrs of FCF). 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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