Technical Publications Service S.p.A (TPS) Fair Value & Analysis
Industrials · IT · Market cap €59.6M
Fair value as of: Jul 19, 2026
From 24 valuation models · updated 23 days ago
Fair value updated Jul 19, 2026, revised from €15.41 to €12.63 (−18.0%) since Jun 24, 2026. Share price −7.7% over the past month.
A solid business, screening 62% undervalued on our models.
What matters now
- The price is below even our cautious bear case (€9.47). The market is more pessimistic than our downside scenario.
- Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
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 €4.24 – €9.00 · fair‑value band €9.47 – €15.79 · the €7.80 price screens below the €12.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Technical Publications Service S.p.A (TPS) currently trades at €7.80, while our model-based Fair Value estimate is €12.63, implying the stock looks roughly 61.9% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials 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, Technical Publications Service S.p.A generated revenue of €51.7M at a net margin of 8.3%. Revenue grew 1.3% year over year. It earns a return on equity of 12.3%. The stock trades on a trailing P/E of 14.0. Fundamentals as of Jul 19, 2026
Our scenario range runs from €9.47 (bear case) to €15.79 (bull case); at €7.80, the current price sits below 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 15% below its 52-week high and 19% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -29% fair-value upside, at 62%, TPS 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.
All 24 models by family
Widest divergence: Multiples (€12.63) versus Asset-Based (€3.54). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 60
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
Technical Publications Service S.p.A. engages in the provision of engineering and digital services in Italy, EU Countries, and internationally.
Full company description
Technical Publications Service S.p.A. engages in the provision of engineering and digital services in Italy, EU Countries, and internationally. The company offers aviation mission equipment including medical, aerial work, avionic, and customization kit; and technical publishing and training services, such as integrated logistic support, process and standards, technical regulations and standards, and technical training and services. It also provides design and cost engineering services comprising design engineering, analysis and stimulations services, cost engineering, and gearbox products; and information technologies and avionic services, including software development and testing, test program set, avionics systems integration, and applications design and development services. In addition, the company offers additive manufacturing, manufacturing and assembly, harness engineering, ground support equipment, and part 145 and avionics; and digital content management services, such as marketing and communication, augmented reality and virtual reality, 3D software for product design, multimedia learning, and certified immersive simulator. It serves aeronautics and space, defence, automotive, truck and buses, special vehicles, energy, railways, machinery and industrial automation, and ropeways system sectors. The company was founded in 1964 and is headquartered in Gallarate, Italy. Technical Publications Service S.p.A. is a subsidiary of G&D S.R.L.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Technical Publications Service S.p.A reported revenue of €50.0M in FY2025 versus €36.9M in FY2021, a compound +7.9%/yr. Reported net income was €4.3M in FY2025, compounding +5.5%/yr from FY2021.
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Peer Group
Airports & Air Services · 55 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.
Valuation Multiples vs Airports & Air Services median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Aena S.M.E., S.A AENA | €26.24 | €28.41 | +8% |
| Airports of Thailand Public Company TATD | 2.44 SGD | 1.25 SGD | -49% |
| Grupo Aeroportuario del Pacífico, S.A. PAC | $220.91 | $246.06 | +11% |
| GMR Airports Limited GMRINFRA | ₹112.80 | ₹22.29 | -80% |
| Flughafen Zürich AG FHZN | CHF 237.20 | CHF 121.30 | -49% |
| Shanghai International Airport Co 600009 | ¥24.08 | ¥17.09 | -29% |
| Auckland International Airport Limited AIA | A$7.11 | A$2.80 | -61% |
| Fraport AG FRA | €69.35 | €49.83 | -28% |
| Københavns Lufthavne A/S KBHL | kr 5,660 | kr 1,821 | -68% |
| SATS Ltd S58 | 4.82 SGD | 4.03 SGD | -16% |
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Frequently asked questions
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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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