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Davide Campari-Milano N.V. (CPR) Fair Value & Analysis

Consumer Defensive · IT · Market cap €7.2B · ISIN NL0015435975

What is Davide Campari-Milano N.V. really worth?

DC Davide Campari-Milano N.V. CPR · MI
Price€5.77
Fair Value€3.98
Upside−31.1%
Quality53/100

A solid business, but trading 45% above our fair value of €3.98.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +11.5 %/yr)
!Thin margins · 8.9% net margin
!Mixed vs. peers (6/15)
!Moderate moat 49/100
!Weak on past: 27 out of 100

For context

·1.73% dividend yield
Evidence: High Range €2.63 – €6.14

Fair value as of: Sep 1, 2026

From 24 valuation models · updated 4 days ago

Share price −1.6% over the past month.

What runs behind every stock

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

What matters now

  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€2.63 to €6.14) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€12.88 €5.01 Fair Value €3.98 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.

How to read this chart

60‑month range €5.01 – €12.88 · fair‑value band €2.63 – €6.14 · the €5.77 price screens above the €3.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.

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Analysis

Davide Campari-Milano N.V. (CPR) currently trades at €5.77, while our model-based Fair Value estimate is €3.98, implying the stock looks roughly 45.0% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of €5.32 per share, and 5 of the 24 models we run sit above the €5.77 price. Bear case: the Earnings-Based group reads lowest at €1.81, and 19 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Davide Campari-Milano N.V. generated revenue of €3.1B at a net margin of 11.4%. Revenue declined 2.8% year over year. It earns a return on equity of 8.6%. Net debt stands at €1.8B. Fundamentals as of Sep 1, 2026

Our scenario range runs from €2.63 (bear case) to €6.14 (bull case); at €5.77, 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 14% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −4% fair-value upside, at −31%, CPR 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 €0.1286 per share, which is 3.2 % 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 €2.21 €3.98 €6.55 78
Growth DCF €2.26 €3.83 €5.96 77
Residual Income €2.71 €2.94 €3.68 76
All 24 models by family
DCF Models
FCF DCF €2.21 €3.98 €6.55 78
Owner Earnings €0.4800 €1.37 €2.67 71
5Y Revenue Exit €1.61 €3.15 €5.07 70
5Y EBITDA Exit €3.44 €6.55 €10.16 73
5Y P/E Exit €2.57 €4.92 €7.36 69
10Y Revenue Exit €1.73 €3.15 €5.01 65
10Y EBITDA Exit €2.94 €5.45 €8.78 66
10Y P/E Exit €2.39 €4.35 €6.71 62
Earnings-Based
Graham-Dodd €1.96 €5.93 €7.87 65
Lynch FV €1.27 €1.81 €2.35 61
PEG = 1.0 €1.27 €1.81 €2.35 57
EPV €2.83 €3.47 €4.03 74
Multiples
P/E Multiple €4.55 €6.06 €7.58 63
P/S Multiple €3.05 €4.07 €5.09 58
P/B Multiple €3.68 €4.91 €6.14 55
EV/EBIT €5.14 €7.28 €9.41 65
EV/EBITDA €4.84 €6.87 €8.91 67
EV/Revenue €1.41 €2.55 €3.70 52
Asset-Based
NCAV (Graham) €1.61 €2.16 €3.22 54
Growth DCF
Growth DCF €2.26 €3.83 €5.96 77
Rev-Margin DCF €1.61 €3.17 €4.95 71
Economic Profit
Residual Income €2.71 €2.94 €3.68 76
ROIC Compounder €2.83 €3.61 €4.74 72
Growth Earnings
Growth-Adj P/E €3.72 €5.32 €6.91 67

Widest divergence: Growth Earnings (€5.32) versus Earnings-Based (€1.81). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 25.1
P/S ratio 2.85 P/E × margin
EPS (TTM) €0.2300 price ÷ EPS = P/E 25.1
Dividend yield 1.7% payout 43.5%
Net margin 11.4% FY2025
Return on equity 6.7% TTM
More key figures
Profitability
Return on assets (EBIT) 7.3% avg 5y
Operating margin 17.4% TTM
Growth
Revenue (TTM) €3.0B TTM
Revenue growth (YoY) −1.0% 3y avg +4.2%
EPS growth (YoY) −36.6%
Balance sheet & cash flow
Free cash flow €388M FY2025
Net debt €1.8B FY2025 · ≈ 4.6 yrs of FCF

Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 55 · Market factors (momentum, volatility) 49

Profitability 39
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 74
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

Davide Campari-Milano N.V., together with its subsidiaries, trades in alcoholic and non-alcoholic beverages in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Full company description

Davide Campari-Milano N.V., together with its subsidiaries, trades in alcoholic and non-alcoholic beverages in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers a range of products, including aperitifs, vodka, whisky, rum, agave, cognac, and champagne under the Aperol, Campari, Picon, Cynar, Sarti Rosa, Campari Soda, Crodino, Aperol Spritz RTE, Wild Turkey, Appleton Estate, Wray and Nephew, The GlenGrant, Wilderness Trail, Espolòn, Ancho Reyes, Montelobos, Grand Marnier, Courvoisier, Bisquit, Champagne Lallier, SKYY Vodka, Bulldog Gin, Averna, Braulio, Forty Creek, Frangelico, Cabo Wabo, Del Professore, Mondoro, Riccadonna, La Mauny, Trois Rivieres, Kingston 62, O'ndina, Bickens, Dreher, Ouzo 12, Sagabita, and Zedda Piras brand names. Davide Campari-Milano N.V. was founded in 1860 and is headquartered in Sesto San Giovanni, Italy. Davide Campari-Milano N.V. operates as a subsidiary of Lagfin S.C.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Davide Campari-Milano N.V. reported revenue of €3.1B in FY2025 versus €2.2B in FY2021, a compound +8.9%/yr. Reported net income was €346M in FY2025, compounding +5.0%/yr from FY2021.

Growth Quality 83/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€3.1B
Latest YoY
−0.6%
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.
+4.2%
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.
+11.5%
Avg. revenue growth/yr (22Y) 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.
+5.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+4.8% (3.1 + 1.7)
Revenue +8.9%/yr
FY21 €2.2B
FY22 €2.7B
FY23 €2.9B
FY24 €3.1B
FY25 €3.1B
Net income +5.0%/yr
FY21 €285M
FY22 €333M
FY23 €331M
FY24 €202M
FY25 €346M
Character of growth · EPS growth decomposed (2013-2024) +7.5 % p.a.
Revenue per share +7.0 %

of which total revenue +7.0 % · buybacks/dilution +0.1 %

EBIT margin −0.9 %
Tax rate +0.7 %
Residual (interest, one-offs) +0.7 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

CPR screens 45% overvalued. Compare with Kweichow Moutai Co →

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Cite: Fair Value Calculator (2026). "Davide Campari-Milano N.V. Fair Value". https://www.fairvalue-calculator.com/stock/CPR

Peer Group

Beverages - Wineries & Distilleries · 94 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 53 · Above median
Fair Value upside −31% · Below median
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 17% · Above median
Revenue growth −1% · Above median
Dividend yield (TTM) 1.7% · Below median
Debt / equity 0.57× · Higher than 75% of peers

Valuation Multiples vs Beverages - Wineries & Distilleries median · lower = cheaper

P/E (TTM) 25.1× · Pricier than median
P/B 2.16× · Pricier than 75% of peers
P/S (TTM) 2.75× · Pricier than median
P/FCF 21.5× · Pricier than 75% of peers
EV/EBITDA 15.3× · Pricier than median
PEG 1.83× · Pricier than median

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 15
FUTURE0 · sector 0
PAST27 · sector 19
HEALTH71 · sector 95
DIVIDEND35 · sector 60

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

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

Similar stocks

10 more Beverages - Wineries & Distilleries stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).

Stock Price Fair Value vs Fair Value
Kweichow Moutai Co 600519 ¥1,303 ¥1,238 −5%
Diageo plc DEO $92.99 $73.29 −21%
Wuliangye Yibin Co 000858 ¥71.89 ¥48.44 −33%
Shanxi Xinghuacun Fen Wine Factory Co 600809 ¥116.39 ¥185.80 +60%
Pernod Ricard SA RI €63.20 €76.13 +20%
Luzhou Laojiao Co 000568 ¥84.50 ¥149.17 +77%
Brown-Forman Corporation BFA $28.72 $27.69 −4%
United Spirits Limited UNITDSPR ₹1,528 ₹285.39 −81%
Thai Beverage Public Company Y92 0.4650 SGD 0.7000 SGD +51%
Jiangsu Yanghe Distillery Co 002304 ¥39.59 ¥27.82 −30%

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Frequently asked questions

Is Davide Campari-Milano N.V. (CPR) overvalued or undervalued?
As of Sep 1, 2026, our model estimates a fair value of €3.98 versus a price of €5.77, about −31% upside (overvalued).
What is the fair value of CPR?
Our model-based fair value for Davide Campari-Milano N.V. is €3.98 (as of Sep 1, 2026), built from audited fundamentals. The current price: €5.77.
What is the quality score of CPR?
Davide Campari-Milano N.V. has a Quality Score of 53/100. 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 Davide Campari-Milano N.V. (CPR)?
Davide Campari-Milano N.V. reported trailing-twelve-month revenue of about €3.1B (latest available figure, as of Sep 1, 2026).
What is the net profit margin of CPR?
The net profit margin of Davide Campari-Milano N.V. is about 11.4%, meaning it keeps roughly 11.4% of revenue as net income. Based on the latest reported figures.
Does Davide Campari-Milano N.V. pay a dividend?
Davide Campari-Milano N.V. currently shows a dividend yield of about 1.73% relative to its recent price (as of Sep 1, 2026).
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