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Tinexta S.p.A (TNXT) Fair Value & Analysis

Technology · IT · Market cap €713M

TS Tinexta S.p.A TNXT · MI
Price€15.00
Fair Value€16.16
Upside+7.7%
Quality51/100
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Mixed Growth
Loss-making · -11.0% net margin
Moderate debt · generates free cash flow
Trails peers (1/12)
Narrow moat 15/100
Evidence: Medium Range €10.02 – €22.31 Share as image

Fair value as of: Jul 19, 2026

From 9 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from €20.49 to €16.16 (−21.1%) since Jun 24, 2026. Share price −0.1% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€10.02 to €22.31) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€38.64 €7.14 Fair Value €16.16 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 €7.14 – €38.64 · fair‑value band €10.02 – €22.31 · the €15.00 price screens below the €16.16 fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Tinexta S.p.A (TNXT) currently trades at €15.00, while our model-based Fair Value estimate is €16.16, implying the stock looks roughly 7.7% fairly valued today. The Quality Score stands at 51/100 (solid quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, Tinexta S.p.A generated revenue of €457M at a net margin of -11.0%. It earns a return on equity of -20.1%. Net debt stands at €198M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €10.02 (bear case) to €22.31 (bull case); at €15.00, 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 7% below its 52-week high and 45% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 8%, TNXT 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 €13.25 €21.93 €34.03 80
Rev-Margin DCF €12.02 €21.55 €33.48 74
Gordon GGM €3.60 €6.49 €8.94 70
All 9 models by family
DCF Models
FCF DCF €13.40 €23.04 €37.23 38
5Y Revenue Exit €12.02 €21.65 €34.37 39
10Y Revenue Exit €11.96 €20.66 €33.27 36
Dividend Discount
Gordon GGM €3.60 €6.49 €8.94 70
DDM Multi-Stage €3.60 €5.93 €6.94 61
Multiples
EV/Revenue €11.64 €17.78 €23.92 43
Asset-Based
NCAV (Graham) €3.42 €4.58 €6.83 50
Growth DCF
Growth DCF €13.25 €21.93 €34.03 80
Rev-Margin DCF €12.02 €21.55 €33.48 74

Widest divergence: DCF Models (€21.65) versus Asset-Based (€4.58). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €457M
Net margin -11.0%
Return on equity -20.1%
Free cash flow €72.3M FY2025
Operating margin -2.4%
EPS (TTM) €-1.36
More key figures
EPS growth (YoY) +4.0%
Net debt €198M FY2025

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 57

Profitability 17
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 85
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

Tinexta S.p.A., together its subsidiaries, provides digital trust, cybersecurity, and business innovation services for citizens, professionals, institutions, and businesses in Italy, France, Spain, rest of the EU, the United Kingdom, the UAE, and internationally. It operates in three segments: Digital Trust, Cybersecurity, and Business Innovation.

Full company description

Tinexta S.p.A., together its subsidiaries, provides digital trust, cybersecurity, and business innovation services for citizens, professionals, institutions, and businesses in Italy, France, Spain, rest of the EU, the United Kingdom, the UAE, and internationally. It operates in three segments: Digital Trust, Cybersecurity, and Business Innovation. The company offers digital trust products, such as certified email, digital signature, time stamps, e-invoicing, digital preservation, and digital identity, as well as dematerialization solutions; data distribution platforms, software, and electronic services; and marketing consulting services. It also provides innovation consulting services for businesses that invest in productivity, innovation, research, and development in order to obtain incentives, contributions, and subsidized financing; cybersecurity and IT services; and other innovation services. The company was formerly known as Tecnoinvestimenti S.p.A. and changed its name to Tinexta S.p.A. in November 2018. The company was founded in 2009 and is headquartered in Rome, Italy.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tinexta S.p.A reported revenue of €457M in FY2025 versus €370M in FY2021, a compound +5.4%/yr. Reported net income was −€43.0M in FY2025.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€457M
Latest YoY
+3.7%
Avg. growth/yr (3Y)
+8.6%
Avg. growth/yr (5Y)
+11.2%
Avg. growth/yr (12Y)
+5.9%
Revenue +5.4%/yr
FY21 €370M
FY22 €357M
FY23 €396M
FY24 €441M
FY25 €457M
Net income
FY21 €37.5M
FY22 €32.6M
FY23 €63.0M
FY24 €31.7M
FY25 −€43.0M

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

Peer Group

Information Technology Services · 480 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 51 · Below median
Fair Value upside +8% · Above median
Return on assets 1% · Below median
Net margin (TTM) -11% · Bottom 25%
Operating margin (TTM) -2% · Bottom 25%
Revenue growth 0% · Below median
Debt / equity 0.53× · Higher than 75% of peers

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/B 2.63× · Pricier than median
P/S (TTM) 1.80× · Pricier than median
P/FCF 11.4× · Pricier than 75% of peers
EV/EBITDA 17.2× · Pricier 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 44 · sector 20
FUTURE 0 · sector 29
PAST 0 · sector 36
HEALTH 74 · sector 97
DIVIDEND 0 · sector 37

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Tinexta S.p.A (TNXT) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €16.16 versus a price of €15.00, about +8% (fairly valued).
What is the fair value of TNXT?
Our model-based fair value for Tinexta S.p.A is €16.16 (as of Jul 19, 2026), built from audited fundamentals. The current price is €15.00.
What is the quality score of TNXT?
Tinexta S.p.A has a Quality Score of 51/100. 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 Tinexta S.p.A (TNXT)?
Tinexta S.p.A reported trailing-twelve-month revenue of about €457M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of TNXT?
The net profit margin of Tinexta S.p.A is about -11.0%, meaning it is currently running at a net loss. 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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