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The Italian Sea Group (TISG) Fair Value & Analysis

Consumer Cyclical · IT · Market cap €77.6M

TI The Italian Sea Group TISG · MI
Price€1.25
Fair Value€1.56
Upside+24.7%
Quality50/100
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Mixed Growth
Thin margins · 3.6% net margin
Low debt · negative free cash flow
Ranks above peers (8/12)
Narrow moat 43/100
Evidence: High Range €0.5658 – €1.95 Share as image

Fair value as of: Jul 25, 2026

From 17 valuation models · updated 16 days ago

Share price +19.7% over the past month.

A solid business, screening 25% undervalued on our models.

What matters now

  • The model range is unusually wide (€0.5658 to €1.95). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (50/100) 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)

€10.27 €0.7360 Fair Value €1.56 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range €0.7360 – €10.27 · fair‑value band €0.5658 – €1.95 · the €1.25 price screens below the €1.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

The Italian Sea Group (TISG) currently trades at €1.25, while our model-based Fair Value estimate is €1.56, implying the stock looks roughly 24.7% undervalued today. The Quality Score stands at 50/100 (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, The Italian Sea Group generated revenue of €354M at a net margin of 3.6%. Revenue declined 25.4% year over year. It earns a return on equity of 8.7%. The stock trades on a trailing P/E of 6.1. Fundamentals as of Jul 25, 2026

Our scenario range runs from €0.5658 (bear case) to €1.95 (bull case); at €1.25, 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 about 79% below its 52-week high and 70% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 25%, TISG 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
Residual Income €3.21 €4.06 €10.12 76
ROIC Compounder €5.86 €7.89 €9.88 72
Gordon GGM €2.58 €4.32 €5.60 70
All 17 models by family
DCF Models
Owner Earnings €8.72 €16.93 €31.25 31
Earnings-Based
Graham-Dodd €4.35 €30.33 €42.56 54
Lynch FV €11.93 €17.04 €22.16 50
PEG = 1.0 €11.93 €17.04 €22.16 46
EPV €4.84 €5.40 €5.85 59
Dividend Discount
Gordon GGM €2.58 €4.32 €5.60 70
DDM Multi-Stage €2.58 €4.09 €4.64 61
Multiples
P/E Multiple €10.55 €14.07 €17.59 63
P/S Multiple €6.21 €8.27 €10.34 58
P/B Multiple €8.15 €10.87 €13.59 55
EV/EBIT €11.09 €14.71 €18.33 53
EV/EBITDA €9.23 €12.24 €15.24 54
EV/Revenue €6.00 €8.49 €10.97 43
Asset-Based
NCAV (Graham) €1.37 €1.83 €2.74 50
Economic Profit
Residual Income €3.21 €4.06 €10.12 76
ROIC Compounder €5.86 €7.89 €9.88 72
Growth Earnings
Growth-Adj P/E €15.34 €21.92 €28.50 68

Widest divergence: Growth Earnings (€21.92) versus Asset-Based (€1.83). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €354M
Revenue growth (YoY) -25.4%
Net margin 3.6%
Return on equity 8.7%
Free cash flow −€13.2M FY2024
P/E ratio 6.1
More key figures
Operating margin 14.8%
EPS (TTM) €0.2400
EPS growth (YoY) -50.0%
Net debt €342K FY2024

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 6

Profitability 70
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 8
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 5
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

The Italian Sea Group S.p.A. operates in the yachting industry. It is involved in the design and construction of yachts and super yachts, motor yachts, and sailing yachts under the Admiral, Tecnomar, Perini Navi, and Picchiotti brands. It also provides refit services on motor and sailing yachts under the NCA Refit brand.

Full company description

The Italian Sea Group S.p.A. operates in the yachting industry. It is involved in the design and construction of yachts and super yachts, motor yachts, and sailing yachts under the Admiral, Tecnomar, Perini Navi, and Picchiotti brands. It also provides refit services on motor and sailing yachts under the NCA Refit brand. In addition, the company offers interior and exterior furniture for the yachts. The company was founded in 1942 and is headquartered in Marina di Carrara, Italy. The Italian Sea Group S.p.A. is a subsidiary of GC Holding S.P.A.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

The Italian Sea Group reported revenue of €365M in FY2024 versus €113M in FY2020, a compound +34.1%/yr. Reported net income was €33.9M in FY2024, compounding +52.7%/yr from FY2020.

Growth Quality 50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
€365M
Latest YoY
+2.6%
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.
+27.9%
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.
+29.8%
Avg. growth/yr (6Y) 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.
+32.3%
Revenue +34.1%/yr
FY20 €113M
FY21 €175M
FY22 €292M
FY23 €356M
FY24 €365M
Net income +52.7%/yr
FY20 €6.2M
FY21 €16.3M
FY22 €24.0M
FY23 €36.9M
FY24 €33.9M

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Cite: Fair Value Calculator (2026). "The Italian Sea Group Fair Value". https://www.fairvalue-calculator.com/stock/TISG

Peer Group

Leisure · 190 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 50 · Below median
Fair Value upside +24% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 15% · Above median
Revenue growth -25% · Bottom 25%
Debt / equity 0.34× · Higher than median

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 6.1× · Cheaper than 75% of peers
P/B 0.62× · Cheaper than 75% of peers
P/S (TTM) 0.25× · Cheaper 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 66 · sector 14
FUTURE 0 · sector 18
PAST 35 · sector 19
HEALTH 83 · sector 94
DIVIDEND 0 · sector 51

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 The Italian Sea Group (TISG) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of €1.56 versus a price of €1.25, about +25% (undervalued).
What is the fair value of TISG?
Our model-based fair value for The Italian Sea Group is €1.56 (as of Jul 25, 2026), built from audited fundamentals. The current price is €1.25.
What is the quality score of TISG?
The Italian Sea Group has a Quality Score of 50/100. 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 The Italian Sea Group (TISG)?
The Italian Sea Group reported trailing-twelve-month revenue of about €354M (latest available figure, as of Jul 25, 2026).
What is the net profit margin of TISG?
The net profit margin of The Italian Sea Group is about 3.6%, meaning it keeps roughly 3.6% 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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