CIR S.p.A. - Compagnie Industriali Riunite stock: fair value
CIR.MIThe fair value of CIR S.p.A. - Compagnie Industriali Riunite under our model is $1.09, the price is 22% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Modestly undervaluedIn our model the price counts as cheap below $0.78 and expensive above $1.81 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $1.57 (cash-flow model) and $0.60 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 15%. At 16% the fair value would be $1.02, at 14% it would be $1.16.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (14.7).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.5%. Discounted at 15.0% (government bond yield 3.5% plus beta 1.72 times a risk premium of 6.7%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $1.57 per share: free cash flow for the next ten years, each year discounted to today at 15.0%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 15.0%) |
|---|---|---|---|---|
| 2026 | $143.71M | extrapolated at 8.5% | 0.8695 | $124.96M |
| 2027 | $153.8M | extrapolated at 7.0% | 0.7561 | $116.28M |
| 2028 | $162.98M | extrapolated at 6.0% | 0.6574 | $107.14M |
| 2029 | $171.5M | extrapolated at 5.2% | 0.5716 | $98.04M |
| 2030 | $179.58M | extrapolated at 4.7% | 0.4971 | $89.26M |
| 2031 | $187.4M | extrapolated at 4.4% | 0.4322 | $80.99M |
| 2032 | $195.08M | extrapolated at 4.1% | 0.3758 | $73.31M |
| 2033 | $202.74M | extrapolated at 3.9% | 0.3268 | $66.25M |
| 2034 | $210.44M | extrapolated at 3.8% | 0.2841 | $59.79M |
| 2035 | $218.25M | extrapolated at 3.7% | 0.2471 | $53.92M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $869.96M |
| Terminal value: cash flow 2035 × (1 + 3.5%) / (15.0% − 3.5%) | $1.97B |
| Present value of terminal value (× 0.2471) | $485.53M |
| Equity value (sum plus present value of terminal value) | $1.36B |
| Shares (diluted) | 863.86M |
| Value per share (equity value divided by shares) | $1.57 |
| Earnings per share, last twelve months | $0.04 |
| × 14.7 (industry P/E) | $0.60 |
| Fair value (average of both parts) | $1.09 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 12 Sep 2025)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.