Independent equity research
Is SOL SpA (SOL) a Buy, Hold or Sell?
SOL SpA — our independent, AI-built valuation and rating, in brief.
SELL
12-mo fair value
€39.64
To fair value
−28%
By · report dated 2026-09-13 · fair value derived independently of the market price.
The thesis, in brief
SOL converts barely a quarter of net profit into free cash because capex runs at 13% of sales, and at EUR 54.40 the price requires a 33.6% terminal EBITDA margin or 4.37% perpetual growth; we are wrong if FY2026 free cash flow clears EUR 150m or capex falls below 11% of sales without margin loss
How we value it
We value SOL SpA using 10y FCFF DCF (g 2.0%) weighted 60%, six-peer forward EV/EBITDA and P/E medians 40%. The 12-month fair value is set from that intrinsic estimate first, then compared to the market to read the upside or downside — never anchored to the current price.
What the full report covers
- Business & moat + industry cycle
- Earnings quality & normalized EPS
- Returns on capital (ROIC vs WACC)
- Balance-sheet safety
- Two independent valuations (DCF + multiples)
- Bear / base / bull fair values
- Earnings-call analysis
- Insider activity & positioning
- Technicals (RSI / ADX)
- A falsifiable thesis
Read the full SOL SpA report
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