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Technos S.A (TECN3) Fair Value & Analysis

Consumer Cyclical · BR · Market cap R$605M

TS Technos S.A TECN3 · SA
PriceR$9.22
Fair ValueR$11.20
Upside+21.5%
Quality68/100
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Expensive Growth
Solidly profitable · 15.2% net margin
Low debt · generates free cash flow
4.18% dividend yield
Ranks above peers (9/14)
Moderate moat 55/100
Evidence: High Range R$7.55 – R$25.42 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from R$11.08 to R$11.20 (+1.1%) since Jun 24, 2026. Share price +2.7% over the past month.

A solid business, screening 21% undervalued on our models.

What matters now

  • The model range is unusually wide (R$7.55 to R$25.42). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

R$10.13 R$1.56 Fair Value R$11.20 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 R$1.56 – R$10.13 · fair‑value band R$7.55 – R$25.42 · the R$9.22 price screens below the R$11.20 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

Technos S.A (TECN3) currently trades at R$9.22, while our model-based Fair Value estimate is R$11.20, implying the stock looks roughly 21.5% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Consumer Cyclical 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, Technos S.A generated revenue of R$483M at a net margin of 15.2%. Revenue grew 5.3% year over year. It earns a return on equity of 17.4%. Net debt stands at R$9.8M. Fundamentals as of Jul 19, 2026

Our scenario range runs from R$7.55 (bear case) to R$25.42 (bull case); at R$9.22, 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 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -41% fair-value upside, at 21%, TECN3 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 R$3.24 R$4.38 R$5.77 80
Residual Income R$7.11 R$9.15 R$22.94 76
Rev-Margin DCF R$5.02 R$8.21 R$11.74 74
All 26 models by family
DCF Models
FCF DCF R$3.20 R$4.49 R$6.14 38
Owner Earnings R$10.52 R$14.70 R$20.06 31
5Y Revenue Exit R$5.02 R$8.22 R$12.28 39
5Y EBITDA Exit R$8.03 R$13.71 R$20.24 41
5Y P/E Exit R$11.53 R$20.08 R$28.89 38
10Y Revenue Exit R$4.05 R$6.60 R$9.94 36
10Y EBITDA Exit R$5.95 R$10.03 R$15.35 37
10Y P/E Exit R$7.97 R$14.02 R$21.24 35
Earnings-Based
Graham-Dodd R$8.13 R$22.13 R$29.01 54
Lynch FV R$4.36 R$6.23 R$8.10 50
PEG = 1.0 R$4.36 R$6.23 R$8.10 46
EPV R$8.96 R$10.19 R$11.21 59
Dividend Discount
Gordon GGM R$1.95 R$3.51 R$4.83 70
DDM Multi-Stage R$1.95 R$2.87 R$3.72 61
Multiples
P/E Multiple R$19.74 R$26.31 R$32.89 63
P/S Multiple R$7.21 R$9.61 R$12.01 58
P/B Multiple R$15.25 R$20.33 R$25.42 55
EV/EBIT R$16.85 R$22.49 R$28.12 53
EV/EBITDA R$12.94 R$17.27 R$21.60 54
EV/Revenue R$6.67 R$9.55 R$12.43 43
Asset-Based
NCAV (Graham) R$3.66 R$4.91 R$7.33 50
Growth DCF
Growth DCF R$3.24 R$4.38 R$5.77 80
Rev-Margin DCF R$5.02 R$8.21 R$11.74 74
Economic Profit
Residual Income R$7.11 R$9.15 R$22.94 76
ROIC Compounder R$9.20 R$11.01 R$12.98 72
Growth Earnings
Growth-Adj P/E R$15.55 R$22.21 R$28.87 68

Widest divergence: Growth Earnings (R$22.21) versus Dividend Discount (R$2.87). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) R$483M
Revenue growth (YoY) +5.3%
Net margin 15.2%
Return on equity 17.4%
Free cash flow R$21.4M FY2025
P/E ratio 9.3
More key figures
Operating margin 6.5%
EPS (TTM) R$1.09
Dividend yield 4.2%
EPS growth (YoY) +50.2%
Net debt R$9.8M FY2025

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 64 · Market factors (momentum, volatility) 79

Profitability 61
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 100
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

Technos S.A., together with its subsidiaries, engages in the manufacturing and wholesale distribution of wristwatches. It also offers technical assistance services for watches. The company sells watches through retail stores, as well as websites under the Technos, Mormaii, Michael Kors, Dumont, Touch, Allora, Fossil, Euro, Mariner, and Condor brands.

Full company description

Technos S.A., together with its subsidiaries, engages in the manufacturing and wholesale distribution of wristwatches. It also offers technical assistance services for watches. The company sells watches through retail stores, as well as websites under the Technos, Mormaii, Michael Kors, Dumont, Touch, Allora, Fossil, Euro, Mariner, and Condor brands. The company was formerly known as GMT Participações SA and changed its name to Technos S.A. in 2011. Technos S.A. was founded in 1956 and is headquartered in Rio de Janeiro, Brazil.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Technos S.A reported revenue of R$478M in FY2025 versus R$314M in FY2021, a compound +11.1%/yr. Reported net income was R$71.5M in FY2025, compounding +26.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
R$478M
Latest YoY
+19.5%
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.
+10.9%
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.
+14.4%
Avg. growth/yr (17Y) 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.
+9.2%
Revenue +11.1%/yr
FY21 R$314M
FY22 R$351M
FY23 R$342M
FY24 R$400M
FY25 R$478M
Net income +26.3%/yr
FY21 R$28.1M
FY22 R$39.9M
FY23 R$56.2M
FY24 R$64.8M
FY25 R$71.5M

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Cite: Fair Value Calculator (2026). "Technos S.A Fair Value". https://www.fairvalue-calculator.com/stock/TECN3

Peer Group

Luxury Goods · 130 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 68 · Top 25%
Fair Value upside +22% · Above median
Return on equity (TTM) 17% · Above median
Return on assets 7% · Above median
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 7% · Below median
Revenue growth 5% · Below median
Dividend yield (TTM) 4.2% · Above median
Debt / equity 0.09× · Higher than median

Valuation Multiples vs Luxury Goods median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 1.38× · Cheaper than median
P/S (TTM) 1.25× · Pricier than median
P/FCF 5.6× · Pricier than median
EV/EBITDA 7.7× · 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 62 · sector 15
FUTURE 27 · sector 50
PAST 69 · sector 38
HEALTH 95 · sector 99
DIVIDEND 84 · sector 39

Insider activity: 45/100

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 Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Compagnie Financière Richemont SA CFR CHF 197.40 CHF 117.30 -41%
Christian Dior SE DIO €455.40 €502.30 +10%
Kering SA KER €248.50 €60.61 -76%
Tapestry, Inc TPR $140.73 $19.95 -86%
Chow Tai Fook Jewellery Group 1929 HK$11.82 HK$12.28 +4%
The Swatch Group UHRN CHF 40.95 CHF 21.48 -48%
Prada S.p.A 1913 HK$43.26 HK$64.05 +48%
Pandora A/S PNDORA kr 779.40 kr 1,424 +83%
Brunello Cucinelli S.p.A BC €80.32 €42.69 -47%
Kalyan Jewellers India Limited KALYANKJIL ₹546.60 ₹238.57 -56%

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Frequently asked questions

Is Technos S.A (TECN3) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of R$11.20 versus a price of R$9.22, about +21% (undervalued).
What is the fair value of TECN3?
Our model-based fair value for Technos S.A is R$11.20 (as of Jul 19, 2026), built from audited fundamentals. The current price is R$9.22.
What is the quality score of TECN3?
Technos S.A has a Quality Score of 68/100. 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 Technos S.A (TECN3)?
Technos S.A reported trailing-twelve-month revenue of about R$483M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of TECN3?
The net profit margin of Technos S.A is about 15.2%, meaning it keeps roughly 15.2% of revenue as net income. Based on the latest reported figures.
Does Technos S.A pay a dividend?
Technos S.A currently shows a dividend yield of about 4.71% relative to its recent price (as of Jul 19, 2026).

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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