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Technoprobe SpA (TPRO) Fair Value & Analysis

Technology · IT · Market cap €22.8B · ISIN IT0005482333

What is Technoprobe SpA really worth?

TS Technoprobe SpA TPRO · MI
Price€26.42
Fair Value€4.27
Upside−83.8%
Quality65/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

A solid business, but trading 519% above our fair value of €4.27.

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Strengths

Solidly profitable · 15.5% net margin
Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +13.8 %/yr)
!Mixed vs. peers (6/12)
!Moderate moat 56/100
!Evidence only low, so the estimate is less certain
!Weak on future: 1 out of 100
Evidence: Low Range €3.20 – €5.34

Fair value as of: Aug 19, 2026

From 24 valuation models · updated 16 days ago

Share price −8.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (€5.34). 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 (65/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

€38.10 €4.82 Fair Value €4.27 Feb 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

55‑month range €4.82 – €38.10 · fair‑value band €3.20 – €5.34 · the €26.42 price screens above the €4.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Technoprobe SpA (TPRO) currently trades at €26.42, while our model-based Fair Value estimate is €4.27, implying the stock looks roughly 518.8% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of €5.20 per share, and 0 of the 24 models we run sit above the €26.42 price. Bear case: the Asset-Based group reads lowest at €1.29, and 24 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Technoprobe SpA generated revenue of €628M at a net margin of 15.5%. Revenue grew 0.1% year over year. It earns a return on equity of 8.0%. The stock trades on a trailing P/E of 176.1. Fundamentals as of Aug 19, 2026

Our scenario range runs from €3.20 (bear case) to €5.34 (bull case); at €26.42, the current price sits above 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 26% below its 52-week high and 346% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at −84%, TPRO screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.1015 per share, which is 2.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF €3.36 €5.20 €9.98 77
Growth DCF €3.29 €5.66 €9.57 76
Residual Income €1.61 €1.72 €1.93 76
All 24 models by family
DCF Models
FCF DCF €3.36 €5.20 €9.98 77
Owner Earnings €2.53 €4.14 €7.33 74
5Y Revenue Exit €3.15 €5.09 €7.93 71
5Y EBITDA Exit €4.62 €8.40 €13.62 73
5Y P/E Exit €3.92 €6.83 €10.46 69
10Y Revenue Exit €3.13 €5.09 €8.25 65
10Y EBITDA Exit €4.22 €7.67 €13.72 65
10Y P/E Exit €3.73 €6.43 €10.82 62
Earnings-Based
Graham-Dodd €1.04 €6.42 €8.96 63
Lynch FV €1.84 €2.64 €3.43 61
PEG = 1.0 €1.84 €2.64 €3.43 57
EPV €2.22 €2.42 €2.58 74
Multiples
P/E Multiple €3.20 €4.27 €5.34 63
P/S Multiple €1.94 €2.59 €3.24 58
P/B Multiple €1.94 €2.59 €3.24 55
EV/EBIT €4.91 €6.18 €7.46 66
EV/EBITDA €5.32 €6.74 €8.15 67
EV/Revenue €3.01 €3.84 €4.67 54
Asset-Based
NCAV (Graham) €0.9700 €1.29 €1.93 54
Growth DCF
Growth DCF €3.29 €5.66 €9.57 76
Rev-Margin DCF €3.15 €5.01 €7.67 72
Economic Profit
Residual Income €1.61 €1.72 €1.93 76
ROIC Compounder €2.41 €3.05 €3.62 72
Growth Earnings
Growth-Adj P/E €3.05 €4.35 €5.66 67

Widest divergence: DCF Models (€5.20) versus Asset-Based (€1.29). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 176.1
P/S ratio 27.4 P/E × margin
EPS (TTM) €0.1500 price ÷ EPS = P/E 176.1
Net margin 15.5% FY2025
Return on equity 8.0% TTM
Return on assets (EBIT) 15.0% avg 5y
More key figures
Profitability
Operating margin 20.6% TTM
Growth
Revenue (TTM) €628M TTM
Revenue growth (YoY) +0.1% 3y avg +4.6%
EPS growth (YoY) +77.0%
Balance sheet & cash flow
Free cash flow €99.6M FY2025

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 67 · Market factors (momentum, volatility) 63

Profitability 43
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 13
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 77
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 76
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Technoprobe S.p.A., together with its subsidiaries, produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

Full company description

Technoprobe S.p.A., together with its subsidiaries, produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe. The company provides mechanical interfaces for electrical contacting of hybrid circuits and semiconductor devices; and engages in the design, development, and production of probe cards for testing the operation of chips. Its products are used in digital data and 5G, IoT, data center, automotive and self-driving car, telecommunications and media, industry and aerospace, and consumer electronics applications. Technoprobe S.p.A. was founded in 1993 and is headquartered in Cernusco Lombardone, Italy. Technoprobe S.p.A. operates as a subsidiary of T- Plus S.P.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Technoprobe SpA reported revenue of €628M in FY2025 versus €392M in FY2021, a compound +12.5%/yr. Reported net income was €97.7M in FY2025, compounding −4.7%/yr from FY2021.

Growth Quality 95/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€628M
Latest YoY
+15.7%
Avg. revenue 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.
+4.6%
Avg. revenue 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.
+13.8%
Avg. revenue 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.
+20.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−2.0% (−2.0 + 0.0)
Revenue +12.5%/yr
FY21 €392M
FY22 €549M
FY23 €409M
FY24 €543M
FY25 €628M
Net income −4.7%/yr
FY21 €118M
FY22 €148M
FY23 €97.0M
FY24 €63.8M
FY25 €97.7M

TPRO screens 519% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Technoprobe SpA Fair Value". https://www.fairvalue-calculator.com/stock/TPRO

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Semiconductors · 329 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 65 · Above median
Fair Value upside −84% · Bottom 25%
Return on equity (TTM) 8% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 16% · Above median
Operating margin (TTM) 21% · Top 25%
Revenue growth 0% · Below median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 176.1× · Pricier than 75% of peers
P/B 21.47× · Pricier than 75% of peers
P/S (TTM) 42.27× · Pricier than 75% of peers
P/FCF 266.6× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE1 · sector 65
PAST32 · sector 24
HEALTH100 · sector 96
DIVIDEND0 · sector 18

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $227.98 $98.98 −57%
Taiwan Semiconductor Manufacturing Company TSM $427.30 $296.10 −31%
Broadcom Inc AVGO $371.54 $118.27 −68%
SK hynix Inc 000660 1,730,000 KRW 1,481,291 KRW −14%
Micron Technology, Inc MU $932.86 $148.38 −84%
Advanced Micro Devices, Inc AMD $476.67 $55.02 −88%
Intel Corporation INTC $92.09 $35.41 −62%
Texas Instruments Incorporated TXN $266.54 $78.54 −71%
QUALCOMM Incorporated QCOM $164.78 $147.20 −11%
MediaTek Inc 2454 3,845 TWD 1,559 TWD −59%

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Frequently asked questions

Is Technoprobe SpA (TPRO) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of €4.27 versus a price of €26.42, about −84% upside (overvalued).
What is the fair value of TPRO?
Our model-based fair value for Technoprobe SpA is €4.27 (as of Aug 19, 2026), built from audited fundamentals. The current price: €26.42.
What is the quality score of TPRO?
Technoprobe SpA has a Quality Score of 65/100. 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 Technoprobe SpA (TPRO)?
Technoprobe SpA reported trailing-twelve-month revenue of about €628M (latest available figure, as of Aug 19, 2026).
What is the net profit margin of TPRO?
The net profit margin of Technoprobe SpA is about 15.5%, meaning it keeps roughly 15.5% of revenue as net income. Based on the latest reported figures.
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