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FCT: Recent Equity Raise And New Contracts Will Support Long Term Earnings

Update shared on 25 Feb 2026

Fair value Decreased 2.32%
06 Jun
€11.48
AnalystConsensusTarget's Fair Value
€16.56
30.7% undervalued intrinsic discount
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1Y
-20.8%
7D
4.6%

Analysts have trimmed their price target on Fincantieri by €0.48 to €20.03. This reflects slightly more cautious assumptions on fair value, revenue growth, profit margins and future P/E expectations.

What's in the News

  • Fincantieri has filed a follow on equity offering for 32,588,445 ordinary shares under Regulation S and Rule 144A, with a subsequent direct listing planned (Key Developments).
  • The company has completed this follow on equity offering, raising about €499.255m by issuing 32,588,445 ordinary shares at €15.32 per share under Regulation S and Rule 144A, with a subsequent direct listing (Key Developments).
  • Norwegian Cruise Line Holdings Ltd. has entered into an agreement with Fincantieri to design and build three new cruise ships, one for each of its Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands (Key Developments).
  • Fincantieri has scheduled a board meeting on March 25, 2026 to consider the consolidated financial statements at December 31, 2025 (Key Developments).
  • Further board meetings are planned on May 11, July 29 and November 12, 2026 to review interim and half year financial information for 2026 (Key Developments).

Valuation Changes

  • Fair Value: trimmed from €20.50 to €20.03, a modest reduction of about 2.3%.
  • Discount Rate: adjusted slightly from 12.81% to 12.77%, a very small downward move.
  • Revenue Growth: eased from 6.12% to 6.01%, reflecting a small step down in projected growth.
  • Net Profit Margin: refined from 2.30% to 2.24%, indicating a minor reduction in expected profitability.
  • Future P/E: nudged up from 39.10x to 39.25x, a very small increase in the valuation multiple applied.

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Disclaimer

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