I

ICoP SpA SB
MIL:ICOP

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ICoP SpA SB
MIL:ICOP
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Price: 25.8 EUR 0.78% Market Closed
Market Cap: €819.9m

EV/EBITDA

16.8
Current
63%
More Expensive
vs 3-y average of 10.3

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
16.8
=
Enterprise Value
€740.8m
/
EBITDA
€50.6m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
16.8
=
Enterprise Value
€740.8m
/
EBITDA
€50.6m

Valuation Scenarios

ICoP SpA SB is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (10.3), the stock would be worth €15.83 (39% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-75%
Maximum Upside
No Upside Scenarios
Average Downside
52%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 16.8 €25.8
0%
3-Year Average 10.3 €15.83
-39%
5-Year Average 10.3 €15.83
-39%
Industry Average 4.2 €6.38
-75%
Country Average 7.6 €11.64
-55%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€740.8m
/
Jul 2025
€50.6m
=
16.8
Current
€740.8m
/
Dec 2025
€79.6m
=
9.3
Forward
€740.8m
/
Dec 2026
€110.2m
=
6.7
Forward
€740.8m
/
Dec 2027
€116.8m
=
6.3
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
IT
ICoP SpA SB
MIL:ICOP
769.3m EUR 16.8 36.1
JP
Sumitomo Densetsu Co Ltd
TSE:1949
35.2T JPY 10.9 19.9
US
Quanta Services Inc
NYSE:PWR
90.6B USD 38.9 88.3
FR
Vinci SA
PAR:DG
74.3B EUR 6.7 15.1
IN
Larsen & Toubro Ltd
NSE:LT
5.6T INR 20.7 34.4
US
Comfort Systems USA Inc
NYSE:FIX
58.9B USD 39.8 57.6
IN
Larsen and Toubro Ltd
F:LTO
47.6B EUR 19.1 31.7
ES
Ferrovial SA
MAD:FER
43.6B EUR 34 48.8
NL
Ferrovial SE
AEX:FER
43.3B EUR 34.2 48.8
DE
Hochtief AG
XETRA:HOT
34B EUR 12.6 37.7
ES
ACS Actividades de Construccion y Servicios SA
MAD:ACS
32B EUR 17.8 33.4
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
IT
I
ICoP SpA SB
MIL:ICOP
Average EV/EBITDA: 22.9
16.8
44%
0.4
JP
Sumitomo Densetsu Co Ltd
TSE:1949
10.9
N/A N/A
US
Quanta Services Inc
NYSE:PWR
38.9
22%
1.8
FR
Vinci SA
PAR:DG
6.7
5%
1.3
IN
Larsen & Toubro Ltd
NSE:LT
20.7
18%
1.1
US
Comfort Systems USA Inc
NYSE:FIX
39.8
16%
2.5
IN
Larsen and Toubro Ltd
F:LTO
19.1
18%
1.1
ES
Ferrovial SA
MAD:FER
34
10%
3.4
NL
Ferrovial SE
AEX:FER
34.2
10%
3.4
DE
H
Hochtief AG
XETRA:HOT
12.6
4%
3.2
ES
ACS Actividades de Construccion y Servicios SA
MAD:ACS
17.8
19%
0.9

Market Distribution

Higher than 82% of companies in Italy
Percentile
82nd
Based on 875 companies
82nd percentile
16.8
Low
0.7 — 5.2
Typical Range
5.2 — 10.8
High
10.8 —
Distribution Statistics
Italy
Min 0.7
30th Percentile 5.2
Median 7.6
70th Percentile 10.8
Max 3 328.6

ICoP SpA SB
Glance View

Market Cap
819.9m EUR
Industry
Construction

I.CO.P.SpA engages in the construction of bridges, viaducts, tunnels, diaphragm walls and provides foundation & underground services. The company is headquartered in Basiliano, Udine. The company went IPO on 2024-07-25. The firm is engaged in designing new solutions and creating new construction technologies. The company operates in sectors such as Foundations and special, Microtunnelling and Direct Pipe, Maritime works, and General Contractor. The firm offers a wide range of products and services including diaphragm walls, also trench cutter diaphragm walls, piles, micro piles, tie rods, jet grouted columns, ground freezing, Cutter Soil Mix (CSM), deep mixing and grouting injections. The company realizes small diameter underground tunnels by means of trenchless technologies, as well as offers harbour work, among others. The firm operates globally.

ICOP Intrinsic Value
27.12 EUR
Undervaluation 5%
Intrinsic Value
Price €25.8
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