Relatech S.p.A. (RLT.MI)

Relatech S.p.A. (RLT.MI) — VMCI valuation read

Relatech S.p.A. (RLT.MI) carries a VMCI composite of 46/100, 4 points below the Technology sector median of 50. Among mid-cap names, that gap places RLT.MI in the bottom third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).

The RLT.MI insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.

**Investor frame.** Value reads RLT.MI trades at 22.0x earnings, 22% above the Technology median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Technology 12.0x. Quality: ROIC of 14.0% sits 4.0pp above the Technology median (10.0%). Risk: net debt to EBITDA of -0.8x leaves covenant headroom, the line to track on Relatech S.p.A.'s next 10-Q.

RLT.MI rose 1.0% over the trailing 7 days, with a +3.3% read on a 30-day basis.