View ValuationThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsPiovan 将来の成長Future 基準チェック /06現在、 Piovanの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Machinery 収益成長25.0%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesUpcoming Dividend • May 20Upcoming dividend of €0.27 per shareEligible shareholders must have bought the stock before 27 May 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.4%).Reported Earnings • May 16First quarter 2024 earnings released: EPS: €0.29 (vs €0.21 in 1Q 2023)First quarter 2024 results: EPS: €0.29 (up from €0.21 in 1Q 2023). Revenue: €136.0m (down 3.4% from 1Q 2023). Net income: €14.7m (up 40% from 1Q 2023). Profit margin: 11% (up from 7.5% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • May 07Now 22% undervaluedOver the last 90 days, the stock has risen 19% to €11.70. The fair value is estimated to be €15.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.お知らせ • Apr 28Piovan S.p.A., Annual General Meeting, Apr 29, 2024Piovan S.p.A., Annual General Meeting, Apr 29, 2024.お知らせ • Apr 27+ 1 more updatePiovan S.p.A. to Report Nine Months, 2024 Results on Nov 13, 2024Piovan S.p.A. announced that they will report nine months, 2024 results on Nov 13, 2024Buy Or Sell Opportunity • Apr 12Now 21% undervaluedOver the last 90 days, the stock has risen 22% to €12.00. The fair value is estimated to be €15.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.Recent Insider Transactions • Apr 11CEO, MD & Director recently sold €178k worth of stockOn the 5th of April, Filippo Zuppichin sold around 15k shares on-market at roughly €12.00 per share. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Filippo's only on-market trade for the last 12 months.Buy Or Sell Opportunity • Mar 28Now 20% undervaluedOver the last 90 days, the stock has risen 14% to €11.90. The fair value is estimated to be €14.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.Valuation Update With 7 Day Price Move • Mar 26Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €12.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Machinery industry in Germany. Total returns to shareholders of 72% over the past three years.Reported Earnings • Mar 20Full year 2023 earnings released: EPS: €0.97 (vs €0.68 in FY 2022)Full year 2023 results: EPS: €0.97 (up from €0.68 in FY 2022). Revenue: €570.5m (up 8.0% from FY 2022). Net income: €49.4m (up 43% from FY 2022). Profit margin: 8.7% (up from 6.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Mar 05Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 21% to €10.80. The fair value is estimated to be €8.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Earnings per share has grown by 28%.Valuation Update With 7 Day Price Move • Dec 20Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €9.82, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 14x in the Machinery industry in Germany. Total returns to shareholders of 130% over the past three years.Reported Earnings • Sep 13Second quarter 2023 earnings released: EPS: €0.23 (vs €0.14 in 2Q 2022)Second quarter 2023 results: EPS: €0.23 (up from €0.14 in 2Q 2022). Revenue: €149.3m (up 15% from 2Q 2022). Net income: €12.1m (up 68% from 2Q 2022). Profit margin: 8.1% (up from 5.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 29% per year.Reported Earnings • May 12First quarter 2023 earnings released: EPS: €0.21 (vs €0.15 in 1Q 2022)First quarter 2023 results: EPS: €0.21 (up from €0.15 in 1Q 2022). Revenue: €141.1m (up 32% from 1Q 2022). Net income: €10.5m (up 34% from 1Q 2022). Profit margin: 7.5% (up from 7.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • May 08Upcoming dividend of €0.20 per share at 2.0% yieldEligible shareholders must have bought the stock before 15 May 2023. Payment date: 17 May 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.8%).Reported Earnings • Mar 23Full year 2022 earnings released: EPS: €0.68 (vs €0.56 in FY 2021)Full year 2022 results: EPS: €0.68 (up from €0.56 in FY 2021). Revenue: €531.4m (up 87% from FY 2021). Net income: €34.6m (up 22% from FY 2021). Profit margin: 6.5% (down from 10.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jan 14Investor sentiment improved over the past weekAfter last week's 16% share price gain to €9.31, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 17x in the Machinery industry in Germany. Total returns to shareholders of 67% over the past three years.Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.26 (vs €0.079 in 3Q 2021)Third quarter 2022 results: EPS: €0.26 (up from €0.079 in 3Q 2021). Revenue: €144.5m (up 118% from 3Q 2021). Net income: €13.7m (up 240% from 3Q 2021). Profit margin: 9.5% (up from 6.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: €0.26 (vs €0.079 in 3Q 2021)Third quarter 2022 results: EPS: €0.26 (up from €0.079 in 3Q 2021). Revenue: €144.5m (up 118% from 3Q 2021). Net income: €13.7m (up 240% from 3Q 2021). Profit margin: 9.5% (up from 6.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Reported Earnings • Sep 10Second quarter 2022 earnings releasedSecond quarter 2022 results: Net income: €7.20m (down 23% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year.Buying Opportunity • May 07Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 19%. The fair value is estimated to be €10.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 6.7%.Upcoming Dividend • May 02Upcoming dividend of €0.10 per shareEligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.1%). Lower than average of industry peers (2.5%).Reported Earnings • Mar 28Full year 2021 earnings released: EPS: €0.56 (vs €0.35 in FY 2020)Full year 2021 results: EPS: €0.56 (up from €0.35 in FY 2020). Revenue: €287.0m (up 28% from FY 2020). Net income: €28.3m (up 61% from FY 2020). Profit margin: 9.9% (up from 7.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Dec 14Investor sentiment improved over the past weekAfter last week's 21% share price gain to €10.00, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 23x in the Machinery industry in Germany. Total returns to shareholders of 37% over the past three years.お知らせ • Dec 14Piovan S.p.A. (BIT:PVN) signed an agreement to acquire Sewickley Capital, Inc. for approximately $150 million.Piovan S.p.A. (BIT:PVN) signed an agreement to acquire Sewickley Capital, Inc. for approximately $150 million on December 13, 2021. The purchase price consists of an initial payment of approximately $125 million, on a cash free / debt free basis; and the payment of a potential earn-out up to a maximum of approximately $22 million, to be paid in 2024 to the extent the Target achieves certain EBITDA growth targets over the time period 2021-2023. The transaction will be financed through a mix of a new debt line amounting to €100 million ($113.2 million) and a portion of available cash. The transaction will be effected through a merger by incorporation whereby Sewickley Capital will be merged into a delaware corporation wholly owned by Piovan, with the result that IPEG will become an indirect subsidiary of Piovan. Kirk Winstead (Current CEO) and John G. Erkert (Current CFO) and the businesses’ respective management teams will remain in their roles at the helm of IPEG. The transaction has been unanimously approved by the board of directors of Piovan and the board of directors of Sewickley Capital and has already received the consent of more than 90% of the shareholders of Sewickley Capital. The closing of the transaction is subject to the approval of US antitrust authorities which is expected by the first quarter of 2022. Pricewaterhousecoopers Business Services Srl acted as Financial advisor and Due Diligence provider to Piovan S.p.A. White & Case LLP acted as legal advisor to Piovan S.p.A. Clark Hill Thorp Reed, LLP acted as legal advisor to IPEG Inc.Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS €0.079 (vs €0.072 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: €66.9m (up 35% from 3Q 2020). Net income: €4.01m (up 10% from 3Q 2020). Profit margin: 6.0% (down from 7.4% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat.Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improved over the past weekAfter last week's 15% share price gain to €8.70, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 30x in the Machinery industry in Germany. Total returns to shareholders of 120% over the past year.Reported Earnings • Sep 09Second quarter 2021 earnings released: EPS €0.18 (vs €0.092 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €81.3m (up 63% from 2Q 2020). Net income: €9.29m (up 98% from 2Q 2020). Profit margin: 11% (up from 9.4% in 2Q 2020). The increase in margin was driven by higher revenue.Upcoming Dividend • May 03Upcoming dividend of €0.13 per shareEligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.1%). Higher than average of industry peers (1.1%).Reported Earnings • Mar 23Full year 2020 earnings released: EPS €0.35 (vs €0.37 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €225.2m (down 2.9% from FY 2019). Net income: €17.6m (down 5.7% from FY 2019). Profit margin: 7.8% (down from 8.1% in FY 2019). The decrease in margin was driven by lower revenue.Is New 90 Day High Low • Feb 11New 90-day high: €5.71The company is up 24% from its price of €4.61 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period.Valuation Update With 7 Day Price Move • Jan 07Investor sentiment improved over the past weekAfter last week's 18% share price gain to €5.57, the stock is trading at a trailing P/E ratio of 16.2x, up from the previous P/E ratio of 13.7x. This compares to an average P/E of 35x in the Machinery industry in Germany. Total return to shareholders over the past year is a loss of 3.6%.Is New 90 Day High Low • Jan 06New 90-day high: €5.24The company is up 11% from its price of €4.70 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Machinery industry, which is also up 11% over the same period.Analyst Estimate Surprise Post Earnings • Nov 13Revenue beats expectationsRevenue exceeded analyst estimates by 5.0%. Over the next year, revenue is forecast to grow 8.9%, compared to a 2.4% growth forecast for the Machinery industry in Germany.Reported Earnings • Nov 13Third quarter 2020 earnings released: EPS €0.074The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €50.2m (up 3.8% from 3Q 2019). Net income: €3.64m (up 11% from 3Q 2019). Profit margin: 7.3% (up from 6.8% in 3Q 2019). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Oct 30Market pulls back on stock over the past weekAfter last week's 16% share price decline to €3.86, the stock is trading at a trailing P/E ratio of 11.7x, down from the previous P/E ratio of 13.9x. This compares to an average P/E of 28x in the Machinery industry in Germany. Total return to shareholders over the past year is a loss of 29%.Upcoming Dividend • Oct 19Upcoming Dividend of €0.11 Per ShareWill be paid on the 28th of October to those who are registered shareholders by the 26th of October. The trailing yield of 3.1% is below the top quartile of German dividend payers (3.7%), but it is higher than industry peers (1.8%).お知らせ • Oct 16Piovan S.p.A. (BIT:PVN) completed the acquisition of Doteco Spa.Piovan S.p.A. (BIT:PVN) agreed to acquire Doteco Spa for €22 million on October 2, 2020. At the closing, €15 million will be paid with an earn-out mechanism based on a performance calculated on the 2020-2021 EBITDA with an enterprise value cap of €22 million plus the cash position as at the end of September 2020. Piovan opted for adhoc financing of €20 million. With the acquisition, Piovan S.p.A. could combine Doteco Spa film dosing technologies with Piovan S.p.A. feeding and storage automations becoming a leader in the supply of complete plants in this field and acquiring new customers in a sector. In 2019, Doteco Spa recorded a total revenue of €19.7 million, consolidated EBIT of €2.8 million, EBITDA of €3.4 million and a positive net financial position of €6 million. The closing is expected in October 2020. Piovan S.p.A. (BIT:PVN) completed the acquisition of Doteco Spa on October 15, 2020.Is New 90 Day High Low • Oct 12New 90-day high: €4.80The company is up 1.0% from its price of €4.77 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 9.0% over the same period.お知らせ • Oct 03Piovan S.p.A. (BIT:PVN) agreed to acquire Doteco Spa.Piovan S.p.A. (BIT:PVN) agreed to acquire Doteco Spa on October 2, 2020. With the acquisition, Piovan S.p.A. could combine Doteco Spa film dosing technologies with Piovan S.p.A. feeding and storage automations becoming a leader in the supply of complete plants in this field and acquiring new customers in a sector. In 2019, Doteco Spa recorded a total revenue of €19.7 million and a EBITDA of €3.4 million. このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Piovan は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測DB:PV0 - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/2024572454357N/A9/30/2024561505161N/A6/30/2024565546373N/A3/31/2024563545667N/A12/31/2023568494655N/A9/30/2023576393748N/A6/30/2023582422937N/A3/31/2023563382229N/A12/31/2022530352733N/A9/30/2022453382832N/A6/30/2022376292529N/A3/31/2022325303235N/A12/31/2021283283639N/A9/30/2021284254042N/A6/30/2021267254143N/A3/31/2021238204042N/A12/31/2020225183335N/A9/30/2020217181827N/A6/30/2020216181425N/A3/31/202022618518N/A12/31/201923219621N/A9/30/201922917821N/A6/30/201923820618N/A3/31/2019251241220N/A12/31/2018245241623N/A9/30/201824726N/A13N/A6/30/201823624N/A18N/A3/31/201821319N/A21N/A12/31/201721220N/A24N/A12/31/201619314N/A15N/A12/31/201519113N/A17N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: PV0の予測収益成長が 貯蓄率 ( 1.1% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: PV0の収益がGerman市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: PV0の収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: PV0の収益がGerman市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: PV0の収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: PV0の 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YCapital-goods 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2025/04/04 19:24終値2025/03/31 00:00収益2024/12/31年間収益2024/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Piovan S.p.A. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Anna FrontaniBerenbergDaniela C. de Carvalho e CostaGoldman Sachs
Upcoming Dividend • May 20Upcoming dividend of €0.27 per shareEligible shareholders must have bought the stock before 27 May 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.4%).
Reported Earnings • May 16First quarter 2024 earnings released: EPS: €0.29 (vs €0.21 in 1Q 2023)First quarter 2024 results: EPS: €0.29 (up from €0.21 in 1Q 2023). Revenue: €136.0m (down 3.4% from 1Q 2023). Net income: €14.7m (up 40% from 1Q 2023). Profit margin: 11% (up from 7.5% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • May 07Now 22% undervaluedOver the last 90 days, the stock has risen 19% to €11.70. The fair value is estimated to be €15.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.
お知らせ • Apr 28Piovan S.p.A., Annual General Meeting, Apr 29, 2024Piovan S.p.A., Annual General Meeting, Apr 29, 2024.
お知らせ • Apr 27+ 1 more updatePiovan S.p.A. to Report Nine Months, 2024 Results on Nov 13, 2024Piovan S.p.A. announced that they will report nine months, 2024 results on Nov 13, 2024
Buy Or Sell Opportunity • Apr 12Now 21% undervaluedOver the last 90 days, the stock has risen 22% to €12.00. The fair value is estimated to be €15.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.
Recent Insider Transactions • Apr 11CEO, MD & Director recently sold €178k worth of stockOn the 5th of April, Filippo Zuppichin sold around 15k shares on-market at roughly €12.00 per share. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Filippo's only on-market trade for the last 12 months.
Buy Or Sell Opportunity • Mar 28Now 20% undervaluedOver the last 90 days, the stock has risen 14% to €11.90. The fair value is estimated to be €14.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.
Valuation Update With 7 Day Price Move • Mar 26Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €12.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Machinery industry in Germany. Total returns to shareholders of 72% over the past three years.
Reported Earnings • Mar 20Full year 2023 earnings released: EPS: €0.97 (vs €0.68 in FY 2022)Full year 2023 results: EPS: €0.97 (up from €0.68 in FY 2022). Revenue: €570.5m (up 8.0% from FY 2022). Net income: €49.4m (up 43% from FY 2022). Profit margin: 8.7% (up from 6.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Mar 05Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 21% to €10.80. The fair value is estimated to be €8.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Earnings per share has grown by 28%.
Valuation Update With 7 Day Price Move • Dec 20Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €9.82, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 14x in the Machinery industry in Germany. Total returns to shareholders of 130% over the past three years.
Reported Earnings • Sep 13Second quarter 2023 earnings released: EPS: €0.23 (vs €0.14 in 2Q 2022)Second quarter 2023 results: EPS: €0.23 (up from €0.14 in 2Q 2022). Revenue: €149.3m (up 15% from 2Q 2022). Net income: €12.1m (up 68% from 2Q 2022). Profit margin: 8.1% (up from 5.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 29% per year.
Reported Earnings • May 12First quarter 2023 earnings released: EPS: €0.21 (vs €0.15 in 1Q 2022)First quarter 2023 results: EPS: €0.21 (up from €0.15 in 1Q 2022). Revenue: €141.1m (up 32% from 1Q 2022). Net income: €10.5m (up 34% from 1Q 2022). Profit margin: 7.5% (up from 7.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • May 08Upcoming dividend of €0.20 per share at 2.0% yieldEligible shareholders must have bought the stock before 15 May 2023. Payment date: 17 May 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.8%).
Reported Earnings • Mar 23Full year 2022 earnings released: EPS: €0.68 (vs €0.56 in FY 2021)Full year 2022 results: EPS: €0.68 (up from €0.56 in FY 2021). Revenue: €531.4m (up 87% from FY 2021). Net income: €34.6m (up 22% from FY 2021). Profit margin: 6.5% (down from 10.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jan 14Investor sentiment improved over the past weekAfter last week's 16% share price gain to €9.31, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 17x in the Machinery industry in Germany. Total returns to shareholders of 67% over the past three years.
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.26 (vs €0.079 in 3Q 2021)Third quarter 2022 results: EPS: €0.26 (up from €0.079 in 3Q 2021). Revenue: €144.5m (up 118% from 3Q 2021). Net income: €13.7m (up 240% from 3Q 2021). Profit margin: 9.5% (up from 6.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: €0.26 (vs €0.079 in 3Q 2021)Third quarter 2022 results: EPS: €0.26 (up from €0.079 in 3Q 2021). Revenue: €144.5m (up 118% from 3Q 2021). Net income: €13.7m (up 240% from 3Q 2021). Profit margin: 9.5% (up from 6.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Sep 10Second quarter 2022 earnings releasedSecond quarter 2022 results: Net income: €7.20m (down 23% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year.
Buying Opportunity • May 07Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 19%. The fair value is estimated to be €10.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 6.7%.
Upcoming Dividend • May 02Upcoming dividend of €0.10 per shareEligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.1%). Lower than average of industry peers (2.5%).
Reported Earnings • Mar 28Full year 2021 earnings released: EPS: €0.56 (vs €0.35 in FY 2020)Full year 2021 results: EPS: €0.56 (up from €0.35 in FY 2020). Revenue: €287.0m (up 28% from FY 2020). Net income: €28.3m (up 61% from FY 2020). Profit margin: 9.9% (up from 7.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Dec 14Investor sentiment improved over the past weekAfter last week's 21% share price gain to €10.00, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 23x in the Machinery industry in Germany. Total returns to shareholders of 37% over the past three years.
お知らせ • Dec 14Piovan S.p.A. (BIT:PVN) signed an agreement to acquire Sewickley Capital, Inc. for approximately $150 million.Piovan S.p.A. (BIT:PVN) signed an agreement to acquire Sewickley Capital, Inc. for approximately $150 million on December 13, 2021. The purchase price consists of an initial payment of approximately $125 million, on a cash free / debt free basis; and the payment of a potential earn-out up to a maximum of approximately $22 million, to be paid in 2024 to the extent the Target achieves certain EBITDA growth targets over the time period 2021-2023. The transaction will be financed through a mix of a new debt line amounting to €100 million ($113.2 million) and a portion of available cash. The transaction will be effected through a merger by incorporation whereby Sewickley Capital will be merged into a delaware corporation wholly owned by Piovan, with the result that IPEG will become an indirect subsidiary of Piovan. Kirk Winstead (Current CEO) and John G. Erkert (Current CFO) and the businesses’ respective management teams will remain in their roles at the helm of IPEG. The transaction has been unanimously approved by the board of directors of Piovan and the board of directors of Sewickley Capital and has already received the consent of more than 90% of the shareholders of Sewickley Capital. The closing of the transaction is subject to the approval of US antitrust authorities which is expected by the first quarter of 2022. Pricewaterhousecoopers Business Services Srl acted as Financial advisor and Due Diligence provider to Piovan S.p.A. White & Case LLP acted as legal advisor to Piovan S.p.A. Clark Hill Thorp Reed, LLP acted as legal advisor to IPEG Inc.
Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS €0.079 (vs €0.072 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: €66.9m (up 35% from 3Q 2020). Net income: €4.01m (up 10% from 3Q 2020). Profit margin: 6.0% (down from 7.4% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat.
Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improved over the past weekAfter last week's 15% share price gain to €8.70, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 30x in the Machinery industry in Germany. Total returns to shareholders of 120% over the past year.
Reported Earnings • Sep 09Second quarter 2021 earnings released: EPS €0.18 (vs €0.092 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €81.3m (up 63% from 2Q 2020). Net income: €9.29m (up 98% from 2Q 2020). Profit margin: 11% (up from 9.4% in 2Q 2020). The increase in margin was driven by higher revenue.
Upcoming Dividend • May 03Upcoming dividend of €0.13 per shareEligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.1%). Higher than average of industry peers (1.1%).
Reported Earnings • Mar 23Full year 2020 earnings released: EPS €0.35 (vs €0.37 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €225.2m (down 2.9% from FY 2019). Net income: €17.6m (down 5.7% from FY 2019). Profit margin: 7.8% (down from 8.1% in FY 2019). The decrease in margin was driven by lower revenue.
Is New 90 Day High Low • Feb 11New 90-day high: €5.71The company is up 24% from its price of €4.61 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period.
Valuation Update With 7 Day Price Move • Jan 07Investor sentiment improved over the past weekAfter last week's 18% share price gain to €5.57, the stock is trading at a trailing P/E ratio of 16.2x, up from the previous P/E ratio of 13.7x. This compares to an average P/E of 35x in the Machinery industry in Germany. Total return to shareholders over the past year is a loss of 3.6%.
Is New 90 Day High Low • Jan 06New 90-day high: €5.24The company is up 11% from its price of €4.70 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Machinery industry, which is also up 11% over the same period.
Analyst Estimate Surprise Post Earnings • Nov 13Revenue beats expectationsRevenue exceeded analyst estimates by 5.0%. Over the next year, revenue is forecast to grow 8.9%, compared to a 2.4% growth forecast for the Machinery industry in Germany.
Reported Earnings • Nov 13Third quarter 2020 earnings released: EPS €0.074The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €50.2m (up 3.8% from 3Q 2019). Net income: €3.64m (up 11% from 3Q 2019). Profit margin: 7.3% (up from 6.8% in 3Q 2019). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Oct 30Market pulls back on stock over the past weekAfter last week's 16% share price decline to €3.86, the stock is trading at a trailing P/E ratio of 11.7x, down from the previous P/E ratio of 13.9x. This compares to an average P/E of 28x in the Machinery industry in Germany. Total return to shareholders over the past year is a loss of 29%.
Upcoming Dividend • Oct 19Upcoming Dividend of €0.11 Per ShareWill be paid on the 28th of October to those who are registered shareholders by the 26th of October. The trailing yield of 3.1% is below the top quartile of German dividend payers (3.7%), but it is higher than industry peers (1.8%).
お知らせ • Oct 16Piovan S.p.A. (BIT:PVN) completed the acquisition of Doteco Spa.Piovan S.p.A. (BIT:PVN) agreed to acquire Doteco Spa for €22 million on October 2, 2020. At the closing, €15 million will be paid with an earn-out mechanism based on a performance calculated on the 2020-2021 EBITDA with an enterprise value cap of €22 million plus the cash position as at the end of September 2020. Piovan opted for adhoc financing of €20 million. With the acquisition, Piovan S.p.A. could combine Doteco Spa film dosing technologies with Piovan S.p.A. feeding and storage automations becoming a leader in the supply of complete plants in this field and acquiring new customers in a sector. In 2019, Doteco Spa recorded a total revenue of €19.7 million, consolidated EBIT of €2.8 million, EBITDA of €3.4 million and a positive net financial position of €6 million. The closing is expected in October 2020. Piovan S.p.A. (BIT:PVN) completed the acquisition of Doteco Spa on October 15, 2020.
Is New 90 Day High Low • Oct 12New 90-day high: €4.80The company is up 1.0% from its price of €4.77 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 9.0% over the same period.
お知らせ • Oct 03Piovan S.p.A. (BIT:PVN) agreed to acquire Doteco Spa.Piovan S.p.A. (BIT:PVN) agreed to acquire Doteco Spa on October 2, 2020. With the acquisition, Piovan S.p.A. could combine Doteco Spa film dosing technologies with Piovan S.p.A. feeding and storage automations becoming a leader in the supply of complete plants in this field and acquiring new customers in a sector. In 2019, Doteco Spa recorded a total revenue of €19.7 million and a EBITDA of €3.4 million.