DB:37B

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Solid track record established dividend payer.

Risks

  • B&C Speakers is covered by less than 3 analysts.

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


Market Performance


7 Day Return

-3.1%

DB:37B

-3.3%

DE Consumer Durables

-1.5%

DE Market


1 Year Return

-5.6%

DB:37B

-16.5%

DE Consumer Durables

-10.4%

DE Market

37B outperformed the Consumer Durables industry which returned -16.5% over the past year.

37B outperformed the Market in Germany which returned -10.4% over the past year.


Share holder returns

37BIndustryMarket
7 Day-3.1%-3.3%-1.5%
30 Day-6.3%-10.3%-4.6%
90 Day4.7%-15.9%-4.6%
1 Year-1.3%-5.6%-14.4%-16.5%-7.6%-10.4%
3 Year83.8%56.6%-10.5%-17.7%9.4%0.03%
5 Year157.6%100.4%21.8%5.5%25.6%8.1%

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 based on future cash flows and its price relative to the stock market?

12.13x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

B&C Speakers's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

B&C Speakers's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

B&C Speakers is good value based on earnings compared to the DE Consumer Durables industry average.

B&C Speakers is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

B&C Speakers is poor value based on expected growth next year.


Price Based on Value of Assets

B&C Speakers is overvalued based on assets compared to the DE Consumer Durables industry average.


Next Steps

Future Growth

How is B&C Speakers expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

3.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

B&C Speakers's revenue is expected to grow by 5.8% yearly, however this is not considered high growth (20% yearly).

B&C Speakers's earnings are expected to grow by 3.6% yearly, however this is not considered high growth (20% yearly).

B&C Speakers's revenue growth is expected to exceed the Germany market average.

B&C Speakers's earnings growth is positive but not above the Germany market average.

B&C Speakers's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

B&C Speakers is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

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

15.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

B&C Speakers's year on year earnings growth rate has been positive over the past 5 years.

B&C Speakers's 1-year earnings growth exceeds its 5-year average (55.2% vs 15.1%)

B&C Speakers's earnings growth has exceeded the DE Consumer Durables industry average in the past year (55.2% vs -37.4%).


Return on Equity

B&C Speakers has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).


Return on Assets

B&C Speakers used its assets more efficiently than the DE Consumer Durables industry average last year based on Return on Assets.


Return on Capital Employed

B&C Speakers's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is B&C Speakers's financial position?


Financial Position Analysis

B&C Speakers is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

B&C Speakers's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

B&C Speakers's level of debt (50.9%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (3% vs 50.9% today).

Debt is well covered by operating cash flow (61.7%, greater than 20% of total debt).

B&C Speakers earns more interest than it pays, coverage of interest payments is not a concern.


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 3.1x debt.


Next Steps

Dividend

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

5.42%

Expected Dividend Yield


Dividend Yield and Payments Analysis

B&C Speakers's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.57%).

B&C Speakers's dividend is above the markets top 25% of dividend payers in Germany (4.29%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.8x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.5x coverage).


Next Steps

Management

What is the CEO of B&C Speakers's salary, the management and board of directors tenure and is there insider trading?

5.2yrs

Average board tenure


CEO

Lorenzo Coppini 0

12.6yrs

Tenure

0

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

Insufficient data for Lorenzo to establish whether their remuneration is reasonable compared to companies of similar size in Germany.

Lorenzo's compensation has been consistent with company performance over the past year, both up more than 20%.


Board Age and Tenure

5.2yrs

Average Tenure

The tenure for the B&C Speakers board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Sell€11,20014 Dec 18
Banca Mediolanum S.p.A.
EntityCompany
Shares1,000
Max Price€11.20
Sell€12,22710 Dec 18
Banca Mediolanum S.p.A.
EntityCompany
Shares1,082
Max Price€11.30
Sell€352,12904 Oct 18
Banca Mediolanum S.p.A.
EntityCompany
Shares27,000
Max Price€13.10

Ownership Breakdown


Management Team

  • Alessandro Pancani

    CTO, R&D Executive Officer and Director

    • Tenure: 0.0yrs
  • Claudia Stortini

    Head of Business Development & Communication

    • Tenure: 0.0yrs
  • Roberto Magalotti

    Head of Research & Development

    • Tenure: 0.0yrs
  • Vincenzo Iorio

    Accountant

    • Tenure: 0.0yrs
  • Lorenzo Coppini

    CEO, President & Director

    • Tenure: 12.6yrs
  • Alfonso Carrino

    President of North America B&C Speakers

    • Tenure: 0.0yrs
  • Simone Pratesi

    CFO, Director of Investor Relations & Director

    • Tenure: 0.0yrs
  • Ron Tizzard

    Director of Sales

    • Tenure: 11.8yrs
  • Francesco Spapperi

    Controller & Director

    • Tenure: 0.0yrs
    • Compensation: €10.00k

Board Members

  • Alessandro Pancani

    CTO, R&D Executive Officer and Director

    • Tenure: 0.0yrs
  • Lorenzo Coppini

    CEO, President & Director

    • Tenure: 12.6yrs
  • Simone Pratesi

    CFO, Director of Investor Relations & Director

    • Tenure: 0.0yrs
  • Francesco Spapperi

    Controller & Director

    • Tenure: 0.0yrs
    • Compensation: €10.00k
  • Roberta Pecci

    Independent Director

    • Tenure: 9.3yrs
    • Compensation: €10.00k
  • Patrizia Mantoan

    Independent Director

    • Tenure: 0.0yrs
    • Compensation: €10.00k
  • Gianni Luzi

    Chairperson

    • Tenure: 5.2yrs
    • Compensation: €15.00k
  • Gabriella Egidi

    Independent Director

    • Tenure: 0.0yrs
    • Compensation: €10.00k
  • Sara Nuzzaci

    Chairperson of Board of Statutory Auditors

    • Tenure: 0.0yrs
    • Compensation: €12.00k
  • Raffaele Cappiello

    Independent Director

    • Tenure: 1.3yrs

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: €121.495m
  • Shares outstanding: 11.00m
  • Website: https://www.bcspeakers.com

Number of Employees


Location

  • B&C Speakers S.p.A.
  • Via Poggiomoro, 1
  • Localita 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 drivers, tweeters, and line arrays. T ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/18 21:04
End of Day Share Price2019/08/16 00:00
Earnings2019/03/31
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.