DB:4LZ

Stock Analysis Report

Executive Summary

Piquadro S.p.A. designs, manufactures, and sells bags and accessories in Italy.

Snowflake

Fundamentals

Solid track record with adequate balance sheet.

Risks

  • Piquadro is not covered by any analysts.

Share Price & News

How has Piquadro's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

DB:4LZ

-1.0%

DE Luxury

0.2%

DE Market


1 Year Return

19.9%

DB:4LZ

18.1%

DE Luxury

-10.0%

DE Market

4LZ outperformed the Luxury industry which returned 18.3% over the past year.

4LZ outperformed the Market in Germany which returned -10.4% over the past year.


Share holder returns

4LZIndustryMarket
7 Day0%-1.0%0.2%
30 Day-11.8%-7.3%-3.3%
90 Day-1.4%0.3%-3.9%
1 Year23.9%19.9%20.2%18.1%-7.1%-10.0%
3 Year110.7%92.9%65.9%57.9%11.3%1.7%
5 Year44.4%24.5%216.8%178.2%25.8%8.4%

Price Volatility Vs. Market

How volatile is Piquadro's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

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

3.19x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

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

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


Price Based on Earnings

Piquadro is good value based on earnings compared to the DE Luxury industry average.

Piquadro is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Piquadro, we can't assess if its growth is good value.


Price Based on Value of Assets

Piquadro is overvalued based on assets compared to the DE Luxury industry average.


Next Steps

Future Growth

How is Piquadro expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

-31.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if Piquadro is high growth as no revenue estimate data is available.

Piquadro's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Unable to compare Piquadro's revenue growth to the Germany market average as no estimate data is available.

Piquadro's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.

Piquadro's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Piquadro will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Piquadro performed over the past 5 years?

55.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Piquadro has delivered over 20% year on year earnings growth in the past 5 years.

Piquadro's 1-year earnings growth exceeds its 5-year average (613.5% vs 55.7%)

Piquadro's earnings growth has exceeded the DE Luxury industry average in the past year (613.5% vs 19.2%).


Return on Equity

Piquadro made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).


Return on Assets

Piquadro used its assets more efficiently than the DE Luxury industry average last year based on Return on Assets.


Return on Capital Employed

It is difficult to establish if Piquadro improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Piquadro's financial position?


Financial Position Analysis

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

Piquadro's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Piquadro's level of debt (28.5%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (55.9% vs 28.5% today).

Operating cash flow is negative therefore debt is not well covered.

Unable to confirm if the interest payments on Piquadro's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 6.2x debt.


Next Steps

Dividend

What is Piquadro's current dividend yield, its reliability and sustainability?

3.64%

Current Dividend Yield


Dividend Yield and Payments Analysis

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

Piquadro's dividend is below 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 thoroughly covered by earnings (8.6x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Piquadro's salary, the management and board of directors tenure and is there insider trading?

2.9yrs

Average board tenure


CEO

Marco Palmieri 0

0.0yrs

Tenure

€586,000

Compensation

Mr. Marco Palmieri serves as the Chairman and Chief Executive Officer at Piquadro S.p.A. Mr. Palmieri has been Director at BolognaFiere S.p.A. since July 26, 2017. 


CEO Compensation Analysis

Marco's remuneration is higher than average for companies of similar size in Germany.

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


Board Age and Tenure

2.9yrs

Average Tenure

The average tenure for the Piquadro board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Marco Palmieri

    Chairman & CEO

    • Tenure: 0.0yrs
    • Compensation: €586.00k
  • Roberto Trotta

    MD & Executive Director

    • Tenure: 0.0yrs
    • Compensation: €233.50k
  • Marcello Piccioli

    MD & Executive Director

    • Tenure: 0.0yrs
    • Compensation: €213.00k
  • Pierpaolo Palmieri

    MD & Executive Director

    • Tenure: 0.0yrs
    • Compensation: €280.00k

Board Members

  • Marco Palmieri

    Chairman & CEO

    • Tenure: 0.0yrs
    • Compensation: €586.00k
  • Pietro Villa

    Chairman of Board of Statutory Auditor

    • Tenure: 0.0yrs
    • Compensation: €16.50k
  • Roberto Trotta

    MD & Executive Director

    • Tenure: 0.0yrs
    • Compensation: €233.50k
  • Marcello Piccioli

    MD & Executive Director

    • Tenure: 0.0yrs
    • Compensation: €213.00k
  • Pierpaolo Palmieri

    MD & Executive Director

    • Tenure: 0.0yrs
    • Compensation: €280.00k
  • Giuseppe Fredella

    Statutory Auditor

    • Tenure: 0.0yrs
    • Compensation: €24.80k
  • Paola Bonomo (50yo)

    Lead Independent Director

    • Tenure: 2.9yrs
    • Compensation: €20.00k
  • Mario Panzeri

    Member of Supervisory Board

    • Tenure: 1.6yrs
  • Catia Cesari

    Independent Non-Executive Director

    • Tenure: 2.9yrs
    • Compensation: €20.00k
  • Barbara Falcomer

    Independent Non-Executive Director

    • Tenure: 2.9yrs
    • Compensation: €20.00k

Company Information

Piquadro S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Piquadro S.p.A.
  • Ticker: 4LZ
  • Exchange: DB
  • Founded: 1987
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: €110.000m
  • Shares outstanding: 50.00m
  • Website: https://www.piquadro.com

Number of Employees


Location

  • Piquadro S.p.A.
  • Sassuriano, 246
  • Silla di Gaggio Montano
  • Bologna
  • Bologna
  • 40041
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PQBIT (Borsa Italiana)YesCommon StockITEUROct 2007
4LZDB (Deutsche Boerse AG)YesCommon StockDEEUROct 2007
0HPPLSE (London Stock Exchange)YesCommon StockGBEUROct 2007
PQMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEUROct 2007

Biography

Piquadro S.p.A. designs, manufactures, and sells bags and accessories in Italy. The company was founded in 1987 and is based in Bologna, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/19 21:09
End of Day Share Price2019/08/19 00:00
Earnings2019/03/31
Annual Earnings2019/03/31


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.