Saipem SpA (SAPMY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Saipem SpA $0.62, price $0.95, upside -34.7%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 $0.1013 – $43.02 · fair‑value band $0.4700 – $0.7800 · the $0.9500 price screens above the $0.6200 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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Saipem SpA provides energy and infrastructure solutions worldwide. It operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments.
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Saipem SpA provides energy and infrastructure solutions worldwide. It operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments. The company offers development of subsea fields and pipelaying; installation and lifting of offshore structures; engages in engineering, implementation, installation, maintenance, modification, and decommissioning activities, as well as offshore engineering and construction, and wind activities. It is also involved in onshore engineering and construction, sustainable infrastructures, and robotics and industrialized solutions; and design and construction of infrastructure projects, such as railway lines in high speed/high capacity lines. In addition, the company provides procurement, project management, and construction services to oil and gas, civil and marine infrastructure, and environmental markets. The company was founded in 1957 and is headquartered in Milan, Italy.
Stock analysis
Saipem SpA ADR (SAPMY) currently trades at $0.9500, while our model-based Fair Value estimate is $0.6200, 34.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $1.50 per share, and 12 of the 24 models we run sit above the $0.9500 price.
Bear case: the Earnings-Based group reads lowest at $0.2100, and 12 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.4700 (bear) to $0.7800 (bull), the price of $0.9500 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 52/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Saipem SpA ADR reported revenue of €15.5B in FY2025 versus €6.5B in FY2021, a compound +24.1%/yr. Reported net income was €310M in FY2025.
Key figures
Market cap $11.4B · P/E ratio 31.7 · P/S ratio 0.63 · EPS (TTM) $0.0300 · Dividend yield 3.7% · Net margin 2.0% · Return on equity 11.6% · Return on assets (EBIT) −0.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 94% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at −35%, SAPMY screens richer than that median.
Fair Value models
Bear $0.4700Fair Value $0.6200Bull $0.7800
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 ($0.0227 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. 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.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.79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.6%
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.
+15.8%
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.
+11.4%
Start year 2020 (pandemic). Over 10 years: +2.2% a year
Revenue growth 13 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.
−0.8%
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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.
−20.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.1%
Dividend (yield on the price)3.7%
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.−2% → 5%
⚠ Revenue per share shrinking 54.4%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
News mood ⓘNews mood, the average tone of recent news (99 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.
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.Oil & Gas Equipment & Services · 184 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−37.1% · Below median
Profitability
Return on equity (TTM)11.6% · Above median
Return on assets8.2% · Top 25%
Net margin (TTM)2.0% · Below median
Operating margin (TTM)4.5% · Below median
Growth and dividend
Revenue growth0.3% · Below median
Dividend yield (TTM)3.7% · Top 25%
Balance sheet
Debt / equity0.55× · Highest 25%
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
P/E (TTM)31.7× · Priciest 25%
P/B4.30× · Priciest 25%
P/S (TTM)0.73× · Cheaper than median
P/FCF10.0× · Cheaper than median
EV/EBITDA9.7× · Pricier than median
PEG0.39× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)2· sector 18
PAST (return on equity)46· sector 28
HEALTH (low debt)73· sector 91
DIVIDEND (yield)0· sector 36
VALUE 0: the price sits above our fair-value range.
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.
As of Sep 23, 2026, our model estimates a fair value of $0.6200 versus a price of $0.9500, about −35% upside (overvalued).
What is the fair value of SAPMY?
Our model-based fair value for Saipem SpA ADR is $0.6200 (as of Sep 23, 2026), built from audited fundamentals. The current price: $0.9500.
What is the quality score of SAPMY?
Saipem SpA ADR has a Quality Score of 52/100. 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 Saipem SpA (SAPMY)?
Our model-based price target is the fair value of $0.6200 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario $0.4700, optimistic scenario $0.7800. It is a calculation from audited fundamentals, not an analyst target.
What is the Saipem SpA ADR stock forecast for 2026?
Our models put fair value at $0.6200, about −35% upside versus a price of $0.9500 (overvalued). Cautious scenario $0.4700, optimistic scenario $0.7800. The calculation is refreshed regularly with new filings.
What is the revenue of Saipem SpA (SAPMY)?
Saipem SpA ADR reported trailing-twelve-month revenue of about €15.5B (latest available figure, as of Sep 23, 2026).
Does Saipem SpA ADR pay a dividend?
Saipem SpA ADR currently shows a dividend yield of about 3.69% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Saipem SpA (SAPMY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Saipem SpA ADR it is $0.6200 per share (as of Sep 23, 2026), against a price of $0.9500. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Saipem SpA ADR stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SAPMY trades above its calculated fair value: price $0.9500, fair value $0.6200, a gap of about −35% (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 SAPMY?
No. The price is what the market pays today ($0.9500); the fair value is what the company's own numbers justify ($0.6200). For Saipem SpA ADR the two are $0.3300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Saipem SpA ADR worth?
The market values Saipem SpA ADR at about $11.4B (market capitalisation, as of Sep 23, 2026). Per share that is $0.9500; our models calculate a fair value of $0.6200 per share.
What do the bullish and bearish scenarios say about SAPMY?
Our models span a range for Saipem SpA ADR: cautious scenario $0.4700, base $0.6200, optimistic $0.7800 per share (as of Sep 23, 2026, price $0.9500). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SAPMY?
Saipem SpA ADR trades at a price-to-earnings ratio of 31.7 (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 $0.6200 is built from several models across several years. Other multiples: PEG 0.4, P/B 4.3, P/S 0.7, EV/EBITDA 9.7.
What is the PEG ratio of SAPMY?
The PEG ratio of Saipem SpA ADR is 0.39 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Saipem SpA (SAPMY)?
Balance-sheet figures for Saipem SpA ADR (as of Sep 23, 2026): return on equity 11.6%, debt of 0.55 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is SAPMY from its 52-week high?
Saipem SpA ADR trades at $0.9500, about 14% below its 52-week high of $1.11 and 94% above the low of $0.4889 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $0.6200 is for.
Which stocks are comparable to Saipem SpA ADR?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, TechnipFMC plc, Halliburton Company, 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 Saipem SpA ADR stock attractive at the current price?
The data as of Sep 23, 2026: price $0.9500, calculated fair value $0.6200 (−35%), Quality Score 52/100, 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 SAPMY calculated?
We run Saipem SpA ADR 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 $0.6200, 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 14.5 % above its aggregate fair value. Saipem SpA ADR 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 Saipem SpA (SAPMY)?
The closing price on Oct 2, 2026 was $0.9500. Our model-based fair value is $0.6200, about −35% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Saipem SpA ADR right now?
The price sits above even our optimistic bull case ($0.7800). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Saipem SpA ADR
How large is the market capitalisation of Saipem SpA (SAPMY)?
The market capitalisation of Saipem SpA ADR is $11.4B. 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 Saipem SpA (SAPMY)?
The price-to-sales ratio of Saipem SpA ADR is 0.63 (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 Saipem SpA (SAPMY)?
Earnings per share at Saipem SpA ADR are $0.0300 (price ÷ EPS = P/E 31.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Saipem SpA (SAPMY)?
The dividend yield of Saipem SpA ADR is 3.7% (payout 117%). 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 Saipem SpA (SAPMY)?
The net margin of Saipem SpA ADR is 2.0% (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 Saipem SpA (SAPMY)?
The return on equity (ROE) of Saipem SpA ADR is 11.6% (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 Saipem SpA (SAPMY)?
On an EBIT basis the return on assets of Saipem SpA ADR is −0.8% (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 Saipem SpA (SAPMY)?
The operating margin of Saipem SpA ADR is 4.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Saipem SpA (SAPMY)?
Revenue at Saipem SpA ADR is growing +0.3% versus a year earlier (3y avg +15.8%). 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 Saipem SpA (SAPMY)?
Earnings per share at Saipem SpA ADR are growing −9.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Saipem SpA (SAPMY) generate?
The free cash flow of Saipem SpA ADR is €1.1B (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 Saipem SpA (SAPMY) carry?
The net debt of Saipem SpA ADR is €888M (fiscal year 2025, ≈ 0.8 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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Thin data
Sep 23, 2026