# CIR S.p.A. (CIR.MI) Canonical: https://gigainvestors.com/s/CIR.MI Analysis as of: 2026-10-16T07:27:26.973Z. Listing currency: EUR. Reporting currency: EUR. ## Verdict Not enough history yet Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no. Share price: EUR 0.74 per share; close as of 2026-10-14. ## Checklist ### understandable: na ### moat: na ### economics: na ### management: na ### accounting: na ## Holders ## Price story Up 92% since Oct 2023 Story as of 2026-10-16T10:01:29.489Z; price observation 2026-10-14. ## Owner memo Memo as of 2026-10-16T08:06:05.509Z. ### How it makes money Annual sales are EUR 1.8 billion. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); FY2025: revenue 1800903000; grossProfit 1198535000; margin = grossProfit / revenue. ### Why customers stay Margins ranged from 63.1% to 66.6% during 2023–25. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); FY2023: grossProfit / revenue = 63.1%. - Source: https://filings.xbrl.org/5493003VOSQJSPCM0T38/2024-12-31/ESEF/IT/0/5493003VOSQJSPCM0T38-2024-12-31-4-it/reports/5493003VOSQJSPCM0T38-2024-12-31-4-it.html (filed 2025-04-15); FY2024: grossProfit / revenue = 65.2%. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); FY2025: grossProfit / revenue = 66.6%. ### Where the cash goes Reinvests 1% of cash earnings; paid dividends in 4 of 4 years. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); FY2023: growth capex 0; upkeep 75612000; cash acquisitions 169000; owner earnings 80036198.64006576. Growth capex plus acquisitions / owner earnings = 0.0021115445619802257. - Source: https://filings.xbrl.org/5493003VOSQJSPCM0T38/2024-12-31/ESEF/IT/0/5493003VOSQJSPCM0T38-2024-12-31-4-it/reports/5493003VOSQJSPCM0T38-2024-12-31-4-it.html (filed 2025-04-15); FY2024: growth capex 0; upkeep 104159000; cash acquisitions 0; owner earnings 177061942.26444513. Growth capex plus acquisitions / owner earnings = 0. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); FY2025: growth capex 0; upkeep 115090000; cash acquisitions 615000; owner earnings 60314207.61765542. Growth capex plus acquisitions / owner earnings = 0.010196602497020531. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); Dividend observations: [[2022,2657000],[2023,6808000],[2024,67071000],[2025,19224000]]. Zero only counted when supported by a complete cash-flow statement. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); FY2025: cash repurchases 14089000 EUR. ### What the price says The price is 0.4 times annual sales. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-04-15); Closing price 0.7400000095367432 EUR; reporting-to-trading FX 1; FY2025 annual sales per share 2.0400012876828257; price multiple 0.3627448737433329. FY2025 cash earnings/share 0.06832187030927615. Closing-price date 2026-10-14. ## Monthly share-price history (EUR per share) - 2016-11: EUR 0.35 per share - 2016-12: EUR 0.38 per share - 2017-01: EUR 0.40 per share - 2017-02: EUR 0.48 per share - 2017-03: EUR 0.63 per share - 2017-04: EUR 0.69 per share - 2017-05: EUR 0.66 per share - 2017-06: EUR 0.58 per share - 2017-07: EUR 0.57 per share - 2017-08: EUR 0.56 per share - 2017-09: EUR 0.63 per share - 2017-10: EUR 0.61 per share - 2017-11: EUR 0.56 per share - 2017-12: EUR 0.58 per share - 2018-01: EUR 0.58 per share - 2018-02: EUR 0.53 per share - 2018-03: EUR 0.49 per share - 2018-04: EUR 0.48 per share - 2018-05: EUR 0.49 per share - 2018-06: EUR 0.43 per share - 2018-07: EUR 0.46 per share - 2018-08: EUR 0.46 per share - 2018-09: EUR 0.47 per share - 2018-10: EUR 0.45 per share - 2018-11: EUR 0.45 per share - 2018-12: EUR 0.46 per share - 2019-01: EUR 0.49 per share - 2019-02: EUR 0.51 per share - 2019-03: EUR 0.52 per share - 2019-04: EUR 0.53 per share - 2019-05: EUR 0.49 per share - 2019-06: EUR 0.47 per share - 2019-07: EUR 0.48 per share - 2019-08: EUR 0.45 per share - 2019-09: EUR 0.45 per share - 2019-10: EUR 0.45 per share - 2019-11: EUR 0.51 per share - 2019-12: EUR 0.55 per share - 2020-01: EUR 0.55 per share - 2020-02: EUR 0.51 per share - 2020-03: EUR 0.42 per share - 2020-04: EUR 0.41 per share - 2020-05: EUR 0.41 per share - 2020-06: EUR 0.42 per share - 2020-07: EUR 0.38 per share - 2020-08: EUR 0.40 per share - 2020-09: EUR 0.39 per share - 2020-10: EUR 0.37 per share - 2020-11: EUR 0.48 per share - 2020-12: EUR 0.44 per share - 2021-01: EUR 0.46 per share - 2021-02: EUR 0.49 per share - 2021-03: EUR 0.47 per share - 2021-04: EUR 0.47 per share - 2021-05: EUR 0.51 per share - 2021-06: EUR 0.51 per share - 2021-07: EUR 0.51 per share - 2021-08: EUR 0.49 per share - 2021-09: EUR 0.48 per share - 2021-10: EUR 0.48 per share - 2021-11: EUR 0.49 per share - 2021-12: EUR 0.47 per share - 2022-01: EUR 0.42 per share - 2022-02: EUR 0.40 per share - 2022-03: EUR 0.41 per share - 2022-04: EUR 0.41 per share - 2022-05: EUR 0.44 per share - 2022-06: EUR 0.40 per share - 2022-07: EUR 0.41 per share - 2022-08: EUR 0.42 per share - 2022-09: EUR 0.39 per share - 2022-10: EUR 0.43 per share - 2022-11: EUR 0.43 per share - 2022-12: EUR 0.43 per share - 2023-01: EUR 0.44 per share - 2023-02: EUR 0.44 per share - 2023-03: EUR 0.39 per share - 2023-04: EUR 0.38 per share - 2023-05: EUR 0.37 per share - 2023-06: EUR 0.38 per share - 2023-07: EUR 0.41 per share - 2023-08: EUR 0.40 per share - 2023-09: EUR 0.40 per share - 2023-10: EUR 0.39 per share - 2023-11: EUR 0.43 per share - 2023-12: EUR 0.43 per share - 2024-01: EUR 0.43 per share - 2024-02: EUR 0.54 per share - 2024-03: EUR 0.54 per share - 2024-04: EUR 0.56 per share - 2024-05: EUR 0.56 per share - 2024-06: EUR 0.60 per share - 2024-07: EUR 0.59 per share - 2024-08: EUR 0.61 per share - 2024-09: EUR 0.57 per share - 2024-10: EUR 0.58 per share - 2024-11: EUR 0.60 per share - 2024-12: EUR 0.60 per share - 2025-01: EUR 0.60 per share - 2025-02: EUR 0.60 per share - 2025-03: EUR 0.55 per share - 2025-04: EUR 0.58 per share - 2025-05: EUR 0.61 per share - 2025-06: EUR 0.58 per share - 2025-07: EUR 0.68 per share - 2025-08: EUR 0.63 per share - 2025-09: EUR 0.65 per share - 2025-10: EUR 0.69 per share - 2025-11: EUR 0.71 per share - 2025-12: EUR 0.70 per share - 2026-01: EUR 0.70 per share - 2026-02: EUR 0.73 per share - 2026-03: EUR 0.68 per share - 2026-04: EUR 0.67 per share - 2026-05: EUR 0.73 per share - 2026-06: EUR 0.69 per share - 2026-07: EUR 0.72 per share - 2026-08: EUR 0.75 per share - 2026-09: EUR 0.78 per share - 2026-10: EUR 0.75 per share ## Annual estimated value (EUR per share) Historical values use today's bond yield for every fiscal year Historical values use today's FX rate into trading currency for every fiscal year Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates ## Sources [Original ESEF filing](https://filings.xbrl.org/5493003VOSQJSPCM0T38/2024-12-31/ESEF/IT/0/5493003VOSQJSPCM0T38-2024-12-31-4-it/reports/5493003VOSQJSPCM0T38-2024-12-31-4-it.html); period 2024-12-31, filed 2025-04-15. Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights. ## Reported holder observations # CIR.MI — Cir SPA Held by 1 investor · USD 200,000 total · 2026 Q2 · reported price USD 0.80 (split-adjusted). Page: https://gigainvestors.com/s/CIR.MI ## Holders (2026 Q2) | Investor | Value | % of their portfolio | This quarter | |---|---:|---:|---| | Thomas Russo (https://gigainvestors.com/GR) | USD 200,000 | 0.0% | hold | ## Total held by quarter - 2011 Q1: USD 183,375 · 1 holder · USD 0.85 - 2011 Q2: USD 203,750 · 1 holder · USD 0.94 - 2011 Q3: USD 154,850 · 1 holder · USD 0.72 - 2011 Q4: USD 145,600 · 1 holder · USD 0.60 - 2012 Q1: USD 129,220 · 1 holder · USD 0.54 - 2012 Q2: USD 122,500 · 1 holder · USD 0.37 - 2012 Q3: USD 142,500 · 1 holder · USD 0.43 - 2012 Q4: USD 131,250 · 1 holder · USD 0.40 - 2013 Q1: USD 125,000 · 1 holder · USD 0.38 - 2013 Q2: USD 141,250 · 1 holder · USD 0.43 - 2013 Q3: USD 197,500 · 1 holder · USD 0.60 - 2013 Q4: USD 197,500 · 1 holder · USD 0.60 - 2014 Q1: USD 188,750 · 1 holder · USD 0.57 - 2014 Q2: USD 187,500 · 1 holder · USD 0.57 - 2014 Q3: USD 142,500 · 1 holder · USD 0.43 - 2014 Q4: USD 132,500 · 1 holder · USD 0.40 - 2015 Q1: USD 146,250 · 1 holder · USD 0.44 - 2015 Q2: USD 132,500 · 1 holder · USD 0.40 - 2015 Q3: USD 125,000 · 1 holder · USD 0.38 - 2015 Q4: USD 132,500 · 1 holder · USD 0.40 - 2016 Q1: USD 147,500 · 1 holder · USD 0.44 - 2016 Q2: USD 135,000 · 1 holder · USD 0.41 - 2016 Q3: USD 127,500 · 1 holder · USD 0.38 - 2016 Q4: USD 136,250 · 1 holder · USD 0.41 - 2017 Q1: USD 191,250 · 1 holder · USD 0.58 - 2017 Q2: USD 175,000 · 1 holder · USD 0.53 - 2017 Q3: USD 192,500 · 1 holder · USD 0.58 - 2017 Q4: USD 175,000 · 1 holder · USD 0.53 - 2018 Q1: USD 165,000 · 1 holder · USD 0.50 - 2018 Q2: USD 152,500 · 1 holder · USD 0.46 - 2018 Q3: USD 142,500 · 1 holder · USD 0.43 - 2018 Q4: USD 132,500 · 1 holder · USD 0.40 - 2019 Q1: USD 152,500 · 1 holder · USD 0.46 - 2019 Q2: USD 133,750 · 1 holder · USD 0.40 - 2019 Q3: USD 127,500 · 1 holder · USD 0.38 - 2019 Q4: USD 152,500 · 1 holder · USD 0.46 - 2020 Q1: USD 115,575 · 1 holder · USD 0.46 - 2020 Q2: USD 118,088 · 1 holder · USD 0.47 - 2020 Q3: USD 115,575 · 1 holder · USD 0.46 - 2020 Q4: USD 135,675 · 1 holder · USD 0.54 - 2021 Q1: USD 140,700 · 1 holder · USD 0.56 - 2021 Q2: USD 150,750 · 1 holder · USD 0.60 - 2021 Q3: USD 140,700 · 1 holder · USD 0.56 - 2021 Q4: USD 133,163 · 1 holder · USD 0.53 - 2022 Q1: USD 113,063 · 1 holder · USD 0.45 - 2022 Q2: USD 105,525 · 1 holder · USD 0.42 - 2022 Q3: USD 97,988 · 1 holder · USD 0.39 - 2022 Q4: USD 118,088 · 1 holder · USD 0.47 - 2023 Q1: USD 105,525 · 1 holder · USD 0.42 - 2023 Q2: USD 103,013 · 1 holder · USD 0.41 - 2023 Q3: USD 108,038 · 1 holder · USD 0.43 - 2023 Q4: USD 118,088 · 1 holder · USD 0.47 - 2024 Q1: USD 145,725 · 1 holder · USD 0.58 - 2024 Q2: USD 160,800 · 1 holder · USD 0.64 - 2024 Q3: USD 160,800 · 1 holder · USD 0.64 - 2024 Q4: USD 155,775 · 1 holder · USD 0.62 - 2025 Q1: USD 148,238 · 1 holder · USD 0.59 - 2025 Q2: USD 173,363 · 1 holder · USD 0.69 - 2025 Q3: USD 193,463 · 1 holder · USD 0.77 - 2025 Q4: USD 206,025 · 1 holder · USD 0.82 - 2026 Q1: USD 195,975 · 1 holder · USD 0.78 - 2026 Q2: USD 200,000 · 1 holder · USD 0.80