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Italmobiliare S.p.A (ITM) Fair Value & Analysis

Consumer Defensive · IT · Market cap €1.1B · ISIN IT0005253205

What is Italmobiliare S.p.A really worth?

IS Italmobiliare S.p.A ITM · MI
Price€25.55
Fair Value€24.88
Upside−2.6%
Quality44/100

Below-average quality, currently priced close to our fair value of €24.88.

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Risks

!Expensive Growth (revenue 5y +5.6 %/yr)
!Thin margins · 7.9% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (6/14)
!Narrow moat 37/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 18 out of 100

For context

·4.31% dividend yield
Evidence: Medium Range €20.89 – €32.34

Fair value as of: Aug 23, 2026

From 15 valuation models · updated 13 days ago

Share price −1.9% 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 close to our fair value, market and models broadly agree here, little valuation tension.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Price vs Fair Value (5 years)

€32.16 €19.13 Fair Value €24.88 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range €19.13 – €32.16 · fair‑value band €20.89 – €32.34 · the €25.55 price screens above the €24.88 fair value. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Italmobiliare S.p.A (ITM) currently trades at €25.55, while our model-based Fair Value estimate is €24.88, implying the stock looks roughly 2.7% fairly valued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of €26.34 per share, and 5 of the 15 models we run sit above the €25.55 price. Bear case: the DCF Models group reads lowest at €8.35, and 10 of the 15 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Italmobiliare S.p.A generated revenue of €779M at a net margin of 7.2%. Revenue grew 12.8% year over year. It earns a return on equity of 4.0%. Net debt stands at €363M. Fundamentals as of Aug 23, 2026

Our scenario range runs from €20.89 (bear case) to €32.34 (bull case); at €25.55, 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 21% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at −3%, ITM screens cheaper 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 €0.1495 per share, which is 0.6 % 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
Owner Earnings €5.33 €8.35 €12.41 76
Residual Income €24.78 €23.81 €19.43 76
EPV €18.54 €21.25 €23.50 74
All 15 models by family
DCF Models
Owner Earnings €5.33 €8.35 €12.41 76
Earnings-Based
Graham-Dodd €9.02 €28.72 €38.28 64
Lynch FV €6.33 €9.05 €11.76 61
PEG = 1.0 €6.33 €9.05 €11.76 57
EPV €18.54 €21.25 €23.50 74
Multiples
P/E Multiple €20.89 €27.86 €34.82 63
P/S Multiple €16.91 €22.55 €28.19 58
P/B Multiple €16.91 €22.55 €28.19 55
EV/EBIT €33.85 €45.57 €57.29 66
EV/EBITDA €38.44 €51.70 €64.95 67
EV/Revenue €18.04 €26.34 €34.64 53
Asset-Based
NCAV (Graham) €17.84 €23.91 €35.69 54
Economic Profit
Residual Income €24.78 €23.81 €19.43 76
ROIC Compounder €18.54 €21.25 €23.50 72
Growth Earnings
Growth-Adj P/E €17.41 €24.88 €32.34 67

Widest divergence: Multiples (€26.34) versus DCF Models (€8.35). Highest evidence: Owner Earnings (76).

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Key figures & financial health

P/E ratio 17.3
P/S ratio 1.24 P/E × margin
EPS (TTM) €1.48 price ÷ EPS = P/E 17.3
Dividend yield 4.3% payout 74.3%
Net margin 7.2% FY2025
Return on equity 4.6% TTM
More key figures
Profitability
Return on assets (EBIT) 4.8% avg 5y
Operating margin 7.9% TTM
Growth
Revenue (TTM) €804M TTM
Revenue growth (YoY) +7.1% 3y avg +16.7%
EPS growth (YoY) +51.7%
Balance sheet & cash flow
Free cash flow −€62.2M FY2025
Net debt €363M FY2025

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 49

Profitability 28
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 25
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.

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

Italmobiliare S.p.A., an investment holding company, owns and manages a portfolio of equity and other investments in the financial and industrial sectors in Italy and internationally. The company produces and sells coffee in compatible capsules and pods; cosmetics and fragrances; cooked and smoked cured meat; and cycling and motorcycling footwear.

Full company description

Italmobiliare S.p.A., an investment holding company, owns and manages a portfolio of equity and other investments in the financial and industrial sectors in Italy and internationally. The company produces and sells coffee in compatible capsules and pods; cosmetics and fragrances; cooked and smoked cured meat; and cycling and motorcycling footwear. It also produces and distributes electricity from renewable sources, including hydroelectric, wind, and photovoltaic plants. In addition, the company operates a network of specialist diagnostic, dental, and physio-kinesitherapy outpatient clinics; and an e-commerce platform that sells wine and spirits. Further, it manufactures and sells outdoor footwear and ski equipment under the Tecnica, Nordica, Moon Boot, Lowa, Blizzard, and Rollerblade brand names; designs, produces, and sells mechanical and electronic locks, and solutions for security and access management; engages in the non-life insurance retail focusing on motor segment; and holds alternative investments in private equity and credit, as well as offers factoring services. The company was founded in 1946 and is headquartered in Milan, Italy.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Italmobiliare S.p.A reported revenue of €775M in FY2025 versus €497M in FY2021, a compound +11.7%/yr. Reported net income was €55.7M in FY2025, compounding −20.5%/yr from FY2021.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€775M
Latest YoY
+9.9%
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.
+16.7%
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.
+5.6%
Avg. revenue growth/yr (12Y) 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%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+0.4% (−3.9 + 4.3)
Revenue +11.7%/yr
FY21 €497M
FY22 €488M
FY23 €591M
FY24 €705M
FY25 €775M
Net income −20.5%/yr
FY21 €140M
FY22 €21.1M
FY23 €66.6M
FY24 €93.6M
FY25 €55.7M

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

Peer Group

Packaged Foods · 648 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 44 · Bottom 25%
Fair Value upside −3% · Above median
Return on equity (TTM) 5% · Below median
Return on assets 3% · Below median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 7% · Above median
Dividend yield (TTM) 4.3% · Above median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 17.3× · Pricier than median
P/B 0.85× · Cheaper than median
P/S (TTM) 1.59× · Pricier than median
EV/EBITDA 9.0× · Pricier than median
PEG 4.45× · 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
VALUE30 · sector 25
FUTURE36 · sector 21
PAST18 · sector 28
HEALTH94 · sector 96
DIVIDEND86 · sector 53

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $40.44 $28.32 −30%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%

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Frequently asked questions

Is Italmobiliare S.p.A (ITM) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of €24.88 versus a price of €25.55, about −3% upside (fairly valued).
What is the fair value of ITM?
Our model-based fair value for Italmobiliare S.p.A is €24.88 (as of Aug 23, 2026), built from audited fundamentals. The current price: €25.55.
What is the quality score of ITM?
Italmobiliare S.p.A has a Quality Score of 44/100. 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 Italmobiliare S.p.A (ITM)?
Italmobiliare S.p.A reported trailing-twelve-month revenue of about €779M (latest available figure, as of Aug 23, 2026).
What is the net profit margin of ITM?
The net profit margin of Italmobiliare S.p.A is about 7.2%, meaning it keeps roughly 7.2% of revenue as net income. Based on the latest reported figures.
Does Italmobiliare S.p.A pay a dividend?
Italmobiliare S.p.A currently shows a dividend yield of about 4.31% relative to its recent price (as of Aug 23, 2026).
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