DB:37B

Stock Analysis Report

Executive Summary

B&C Speakers S.p.A. manufactures and sells electro-acoustic transducer.


Snowflake Analysis

Outstanding track record with adequate balance sheet.

Share Price & News

How has B&C Speakers's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 37B's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.4%

37B

-0.3%

DE Consumer Durables

2.1%

DE Market


1 Year Return

-28.7%

37B

-24.6%

DE Consumer Durables

-16.6%

DE Market

Return vs Industry: 37B underperformed the German Consumer Durables industry which returned -25.7% over the past year.

Return vs Market: 37B underperformed the German Market which returned -20.9% over the past year.


Shareholder returns

37BIndustryMarket
7 Day-4.4%-0.3%2.1%
30 Day-30.5%-12.7%-12.6%
90 Day-39.9%-20.8%-22.9%
1 Year-25.4%-28.7%-22.7%-24.6%-14.2%-16.6%
3 Year-21.9%-33.4%-16.1%-23.2%-14.8%-21.9%
5 Year41.4%10.0%-8.4%-21.1%-16.6%-27.8%

Price Volatility Vs. Market

How volatile is B&C Speakers's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is B&C Speakers undervalued compared to its fair value and its price relative to the market?

9.02x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 37B (€8.24) is trading above our estimate of fair value (€8.24)

Significantly Below Fair Value: 37B is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 37B is good value based on its PE Ratio (9x) compared to the Consumer Durables industry average (11.7x).

PE vs Market: 37B is good value based on its PE Ratio (9x) compared to the German market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 37B's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 37B is overvalued based on its PB Ratio (3.9x) compared to the DE Consumer Durables industry average (1.3x).


Next Steps

Future Growth

How is B&C Speakers forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.5%

Forecasted Consumer Durables industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as B&C Speakers has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has B&C Speakers performed over the past 5 years?

18.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 37B has high quality earnings.

Growing Profit Margin: 37B's current net profit margins (18.9%) are higher than last year (13.9%).


Past Earnings Growth Analysis

Earnings Trend: 37B's earnings have grown by 18.2% per year over the past 5 years.

Accelerating Growth: 37B's earnings growth over the past year (47.2%) exceeds its 5-year average (18.2% per year).

Earnings vs Industry: 37B earnings growth over the past year (47.2%) exceeded the Consumer Durables industry -15.9%.


Return on Equity

High ROE: 37B's Return on Equity (43.9%) is considered outstanding.


Next Steps

Financial Health

How is B&C Speakers's financial position?


Financial Position Analysis

Short Term Liabilities: 37B's short term assets (€42.8M) exceed its short term liabilities (€17.5M).

Long Term Liabilities: 37B's short term assets (€42.8M) exceed its long term liabilities (€12.5M).


Debt to Equity History and Analysis

Debt Level: 37B's debt to equity ratio (71.3%) is considered high.

Reducing Debt: 37B's debt to equity ratio has increased from 34.2% to 71.3% over the past 5 years.

Debt Coverage: 37B's debt is well covered by operating cash flow (42.3%).

Interest Coverage: 37B earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is B&C Speakers's current dividend yield, its reliability and sustainability?

2.29%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 37B's dividend (2.29%) is higher than the bottom 25% of dividend payers in the German market (1.69%).

High Dividend: 37B's dividend (2.29%) is low compared to the top 25% of dividend payers in the German market (4.85%).


Stability and Growth of Payments

Stable Dividend: 37B's dividend payments have been volatile in the past 10 years.

Growing Dividend: 37B's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.6%), 37B's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average board tenure


CEO

Lorenzo Coppini

13.25s

Tenure

€230,000

Compensation

Mr. Lorenzo Coppini has been Chief Executive Officer since 2007 and serves as President of B&C Speakers S.p.A. and served as its Chairman of the Board since April 29, 2013 until June 30, 2014. Mr. Coppini  ...


CEO Compensation Analysis

Compensation vs Market: Lorenzo's total compensation ($USD0.00) is below average for companies of similar size in the German market ($USD428.66K).

Compensation vs Earnings: Lorenzo's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Lorenzo Coppini
CEO, President & Director13.25yrs€230.00k0.51% 491.7k
Simone Pratesi
CFO, Director of Investor Relations & Directorno data€212.00kno data
Alessandro Pancani
CTO, R&D Executive Officer and Directorno data€239.00kno data
Francesco Spapperi
Controller & Directorno data€10.00kno data
Roberta Pecci
Independent Director10yrs€10.00kno data
Patrizia Mantoan
Independent Directorno data€10.00kno data
Gianni Luzi
Chairperson5.83yrs€15.00kno data
Gabriella Egidi
Independent Directorno data€10.00kno data
Raffaele Cappiello
Independent Director2yrsno datano data
Riccardo Taverna
Statutory Auditorno datano datano data

5.8yrs

Average Tenure

Experienced Board: 37B's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

B&C Speakers S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: B&C Speakers S.p.A.
  • Ticker: 37B
  • Exchange: DB
  • Founded: 1945
  • Industry: Consumer Electronics
  • Sector: Consumer Durables
  • Market Cap: €95.677m
  • Shares outstanding: 10.97m
  • Website: https://www.bcspeakers.com

Number of Employees


Location

  • B&C Speakers S.p.A.
  • Via Poggiomoro, 1
  • Loc. Vallina
  • Bagno a Ripoli
  • Florence
  • 50012
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BECBIT (Borsa Italiana)YesCommon StockITEURJul 2007
37BDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2007
0OM7LSE (London Stock Exchange)YesCommon StockGBEURJul 2007
BECMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURJul 2007

Biography

B&C Speakers S.p.A. manufactures and sells electro-acoustic transducer. It offers high frequency drivers and horns, coaxial components, and cone drivers, as well as LF and HF drivers, tweeters, and line arrays. The company provides its products under the B&C brand name, as well as supplies OEM components to professional audio brands in the market. It has operations in Italy and internationally. The company was formerly known as BBC Speakers SpA and changed its name to B&C Speakers S.p.A. in 1993. B&C Speakers S.p.A. was founded in 1945 and is headquartered in Bagno a Ripoli, Italy. B&C Speakers S.p.A. is a subsidiary of Research & Development International S.r.L. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 02:25
End of Day Share Price2020/04/06 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.