BN7.F
CIR S.p.A. - Compagnie Industriali Riunite

Consumer Cyclical · Auto Parts · valued as of 2026-11-03 · statements 2025-12-31

Average Intrinsic Value

1.15B USD

Market Cap

637.03M USD

Margin of Safety

44.5%

Intrinsic / Market Ratio

1.80×

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

EPV + Growth

1.26B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

970.80M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

1.21B USD

15 years of cash for shareholders and lenders, less what is owed

Intrinsic Value

1.15B USD

the plain average of the three, uncapped, as the screener averages them

Intrinsic Value

1.15B USD

from the sum above

Market Cap

637.03M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.80×

the ratio the screener ranks by; Margin of Safety +44.5% (1 − Market Cap ÷ Intrinsic Value)

Each card below builds one of the three values from the reported years.

Earnings power value plus growth: 1.26B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)1.64B USD
−②Net Debt Today950.69M USD
+③Growth Value573.85M USD
=Value1.26B USD

EPV of the Operations (NOPAT over WACC)

1.64B USD

Net debt today

-950.69M USD

Growth Value

+573.85M USD

Value

1.26B USD

①EPV (earnings power value)

1.64B USD

②Net Debt Today

950.69M USD

③Growth Value

573.85M USD

Market value

Market Cap637.03M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+49.6%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 970.80M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 970.80M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap637.03M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+34.4%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 1.21B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF1.15B USD
+②Invested Capital at Year 15, Today1.01B USD
−③Net Debt Today950.69M USD
=Value1.21B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment rising to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

1.15B USD

②Invested Capital at Year 15, Today

1.01B USD

③Net Debt Today

950.69M USD

Market value

Market Cap637.03M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+47.4%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 4.18%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.41×Market Risk Premium 6.00%= 6.95%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 32.05M USDPretax Income 91.15M USD= 35.16%

The tax the interest saves.

Interest Expense =EBIT 139.97M USD−Pretax Income 91.15M USD= 48.82M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 48.82M USDTotal Debt 1.18B USD×(1 − Tax Rate for WACC 35.16%)= 2.69%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 1.18B USDMarket Cap + Total Debt 637.03M USD + 1.18B USD= 64.92%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 35.08%×Cost of Equity 6.95%+Debt Weight 64.92%×Cost of Debt 2.69%= 4.18%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 2.79B USD − Total Liabilities 1.82B USD = Book Value Today 970.80M USD

Total Debt 1.18B USD − Cash and Short-Term Investments 228.19M USD = Net Debt Today 950.69M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-21.1%at most 5%passes827,318,796 / 1,048,050,061
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets8.4%at least -10.0%passes(266.45M USD − 33.43M USD) ÷ 2.79B USD
Price to bookMarket Cap ÷ Book Value Today0.66×at most 3×passes637.03M USD ÷ 970.80M USD
Operating marginOperating Income ÷ Revenue7.6%above 10.0%does not pass160.81M USD ÷ 2.12B USD
Revenue growthRevenue ÷ Revenue a Year Before − 111.6%above 10.0%passes2.12B USD / 1.90B USD
Net cash(Cash − Total Debt) ÷ Market Cap-169.0%above -30%does not pass(102.04M USD − 1.18B USD) ÷ 637.03M USD
Operating efficiencyOperating Income ÷ Gross Profit11.4%above 25.0%does not pass160.81M USD ÷ 1.41B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

0.69 EUR

Enterprise value

1.49B EUR

the provider's own figure

EV / EBITDA

9.35×

Price / book

0.80×

the provider's book

Price / earnings

9.86×

Return on equity

5.3%

the provider's figure, not this page's

Profit margin

1.8%

Revenue growth

1.7%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

2.38B1.99B1.90B2.12B

Gross profit

1.35B1.25B1.24B1.41B

Operating income

69.07M90.74M119.47M160.81M

EBITDA

operating income before depreciation and amortisation

309.46M281.59M323.91M340.28M

Pretax income

30.57M26.36M84.39M91.15M

Net income

-274.26K36.33M137.69M33.43M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-9.74M-17.69M-23.89M45.64M

R&D

————
Balance sheet, year end

Total assets

3.53B3.58B2.88B3.14B

Total liabilities

2.46B2.43B1.76B1.87B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

793.27M834.95M824.13M940.31M

Total debt

1.60B1.59B1.18B1.24B

Cash and equivalents

234.43M166.18M136.04M237.51M

Net PP&E

fixed assets after depreciation

1.59B1.59B1.36B1.50B

Working capital

current assets less current liabilities

281.84M234.60M251.74M302.52M
Cash flow

Operating cash flow

219.97M135.87M188.43M266.45M

Capital expenditure

paid out, so below zero

-144.43M-83.77M-108.50M-135.33M

Depreciation and amortisation

228.36M190.58M179.28M200.31M

Free cash flow

operating cash flow plus capital expenditure

75.54M52.10M79.93M131.11M