Tiscali S.p.A. (TSL) fair value: what the stock is really worth
As of Oct 23, 2026: fair value (intrinsic value) of Tiscali S.p.A. stock €0.06, price €0.07, upside -10.6%, quality 21 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range €0.0626 – €2.17 · fair‑value band €0.0489 – €0.0928 · the €0.0710 price screens above the €0.0635 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 22, 2026.
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Tessellis S.p.A. provides telecommunication services. It offers Internet access, fixed and mobile telephony services and value-added services to private individuals and companies. The company is based in Cagliari, Italy.
Stock analysis
Tiscali S.p.A. (TSL) currently trades at €0.0710, while our model-based Fair Value estimate is €0.0635, 10.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €0.2000 per share, and 3 of the 7 models we run sit above the €0.0710 price.
Bear case: the DCF Models group reads lowest at €0.0600, and 4 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: €0.0489 (bear) to €0.0928 (bull), the price of €0.0710 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 21/100 (below-average quality), in the Communication Services sector.
Mixed Growth: Spin-off in 2019: revenue and profit before it include the divested business. Growth is measured afresh from 2019.
Tiscali S.p.A. reported revenue of €217M in FY2024 versus €144M in FY2020, a compound +10.8%/yr. Reported net income was −€58.0M in FY2024.
Key figures
Market cap €33.6M Micro · P/S ratio 0.15 · EPS (TTM) €−0.2200 · Net margin −26.7% · Return on equity −921% · Return on assets (EBIT) −12.8% · Revenue (TTM) €217M · Revenue growth (YoY) −4.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (medium confidence).
What moves the price
The share trades about 30% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 42% fair-value upside, at −11%, TSL screens richer than that median.
Fair Value models
Bear€0.0489Fair Value €0.0635Bull€0.0928
Price €0.0710 · Upside -10.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2019: revenue and profit before it include the divested business. Growth is measured afresh from 2019.
Revenue growth 1 year
−6.2%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.8%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−13.0% (2019) → −22.1% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+44.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +41.0% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Telecom Services · 237 stocks
Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score21 · Bottom 25%
Fair Value upside−10.6% · Below median
Profitability
Return on equity (12 months)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets−19.9% · Bottom 25%
Net margin (12 months)−26.7% · Bottom 25%
Operating margin (12 months)0.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−4.8% · Bottom 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months)0.16× · Cheapest 25%
Price / free cash flow24.2× · Priciest 25%
PEG4.93× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)19· sector 37
FUTURE (revenue growth)0· sector 18
PAST (return on equity)0· sector 33
HEALTH (low debt)0· sector 82
DIVIDEND (yield)0· sector 74
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Tiscali S.p.A. Fair Value". https://www.fairvalue-calculator.com/stock/TSL
Frequently asked questions
Is Tiscali S.p.A. (TSL) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of €0.0635 versus a price of €0.0710, about −11% upside (overvalued).
What is the fair value of TSL?
Our model-based fair value for Tiscali S.p.A. is €0.0635 (as of Oct 22, 2026), built from audited fundamentals. The current price: €0.0710.
What is the quality score of TSL?
Tiscali S.p.A. has a Quality Score of 21/100. 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 price target for Tiscali S.p.A. (TSL)?
Our model-based price target is the fair value of €0.0635 (as of Oct 22, 2026) from 7 valuation models. Cautious scenario €0.0489, optimistic scenario €0.0928. It is a calculation from audited fundamentals, not an analyst target.
What is the Tiscali S.p.A. stock forecast for 2026?
Our models put fair value at €0.0635, about −11% upside versus a price of €0.0710 (overvalued). Cautious scenario €0.0489, optimistic scenario €0.0928. The calculation is refreshed regularly with new filings.
What is the revenue of Tiscali S.p.A. (TSL)?
Tiscali S.p.A. reported trailing-twelve-month revenue of about €217M (latest available figure, as of Oct 22, 2026).
What growth is priced into Tiscali S.p.A. (TSL)?
For today's price to be fair in a discounted-cash-flow model, Tiscali S.p.A. would have to grow free cash flow by +44.1 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.8 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of TSL use?
Our models discount Tiscali S.p.A. at 12.8 %: a base by market capitalisation (nano), damped by beta 1.28, country premium for Italy. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Tiscali S.p.A. that is +44.1 % per year a year over ten years, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Tiscali S.p.A. (TSL) delivered so far?
Over the past 5 years revenue at Tiscali S.p.A. grew +8.8 % a year. The price currently implies +44.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Tiscali S.p.A. (TSL) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Tiscali S.p.A. (+44.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tiscali S.p.A. (TSL)?
The free-cash-flow yield on the price is 6.75 %: that much free cash flow Tiscali S.p.A. produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tiscali S.p.A. (TSL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tiscali S.p.A. it is €0.0635 per share (as of Oct 22, 2026), against a price of €0.0710. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Tiscali S.p.A. stock overvalued or undervalued in 2026?
As of Oct 22, 2026, TSL trades above its calculated fair value: price €0.0710, fair value €0.0635, a gap of about −11% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TSL?
No. The price is what the market pays today (€0.0710); the fair value is what the company's own numbers justify (€0.0635). For Tiscali S.p.A. the two are €0.0075 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tiscali S.p.A. worth?
The market values Tiscali S.p.A. at about €33.6M (market capitalisation, as of Oct 22, 2026). Per share that is €0.0710; our models calculate a fair value of €0.0635 per share.
What do the bullish and bearish scenarios say about TSL?
Our models span a range for Tiscali S.p.A.: cautious scenario €0.0489, base €0.0635, optimistic €0.0928 per share (as of Oct 22, 2026, price €0.0710). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of TSL?
The PEG ratio of Tiscali S.p.A. is 4.93 (P/E divided by earnings growth, as of Oct 22, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Tiscali S.p.A. (TSL)?
Balance-sheet figures for Tiscali S.p.A. (as of Oct 22, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is TSL from its 52-week high?
Tiscali S.p.A. trades at €0.0710, about 30% below its 52-week high of €0.1020 and 13% above the low of €0.0626 (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of €0.0635 is for.
Which stocks are comparable to Tiscali S.p.A.?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tiscali S.p.A. stock attractive at the current price?
The data as of Oct 22, 2026: price €0.0710, calculated fair value €0.0635 (−11%), Quality Score 21/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TSL calculated?
We run Tiscali S.p.A. through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €0.0635, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.3 % above its aggregate fair value. Tiscali S.p.A. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tiscali S.p.A. (TSL)?
The closing price on Oct 23, 2026 was €0.0710. Our model-based fair value is €0.0635, about −11% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tiscali S.p.A. right now?
A fairly wide model range (€0.0489 to €0.0928) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Tiscali S.p.A.
How large is the market capitalisation of Tiscali S.p.A. (TSL)?
The market capitalisation of Tiscali S.p.A. is €33.6M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tiscali S.p.A. (TSL)?
The price-to-sales ratio of Tiscali S.p.A. is 0.15 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tiscali S.p.A. (TSL)?
Earnings per share at Tiscali S.p.A. are €−0.2200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Tiscali S.p.A. (TSL)?
The net margin of Tiscali S.p.A. is −26.7% (fiscal year 2024). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tiscali S.p.A. (TSL)?
The return on equity (ROE) of Tiscali S.p.A. is −921% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tiscali S.p.A. (TSL)?
On an EBIT basis the return on assets of Tiscali S.p.A. is −12.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How fast is revenue growing at Tiscali S.p.A. (TSL)?
Revenue at Tiscali S.p.A. is growing −4.8% versus a year earlier (3y avg +14.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Tiscali S.p.A. (TSL) carry?
The net debt of Tiscali S.p.A. is €82.7M (fiscal year 2024, ≈ 59.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Oct 22, 2026