Autogrill S.p.A., through its subsidiaries, provides food and beverage services for travelers in North America, Italy, and other European countries.
The last earnings update was 72 days ago.
Discounted Cash Flow Calculation for DB:AUL using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
is arrived at by discounting future cash flows to their present value using the 2 stage method.
We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
DB:AUL DCF 1st Stage: Next 10 year cash flow forecast
The current share price of
is above its future cash flow value.
Often investors are willing to pay a
for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
is considered below, and whether this is a fair price.
Price based on past earnings
Autogrill's earnings available for a low price, and how does
this compare to other companies in the same industry?
Autogrill's earnings are expected to grow significantly at over 20% yearly.
Autogrill's revenue is expected to grow by 2.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Autogrill's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
has a total score of
1/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
TENURE AS CEO
Mr. Gianmario Tondato da Ruos has been Group Chief Executive Officer at Autogrill S.p.A., since February 26, 2003 and serves as its Director of The Internal Control and Risk System. Mr. Tondato da Ruos served as the President and Chief Operating Officer of HMSHost Corporation since April 25, 2002. He joined Autogrill as the Chief Administrative Officer and Executive Vice President of HMSHost in January 2000. He assumed responsibility for HMSHost's entire operations organization. He joined the Benetton Group in Italy in 1987, serving in a number of executive positions. He began his career in 1987 with the Mondadori Group and several Benetton Group companies, where he handled corporate reorganizations and international mobility. He started his career in 1985 in Group Arnoldo Mondadori Editore and various Benetton Group companies, where he worked on company re-organization and international mobility. He served as the Chairman of Autogrill Group Inc., HMS and WD. Mr. Tondato da Ruos served as the Chairman of World Duty Free S.p.A. from March 27, 2013 to August 7, 2015. He served as a Non-Executive Director at WDFG GB Limited since August 13, 2007. He serves on the Advisory Board of Rabo Bank (Hollande). He serves as a Director of Alpha Group plc. He has been an Executive Director of Autogrill S.p.A. since April 23, 2008. He has been Director of World Duty Free Group S.A. since April 21, 2005. He serves as a Director of WDFG SAU. He serves as an Independent Director of Guala Closures S.p.A. He has been an Independent Non-Executive Director of International Game Technology PLC since April 7, 2015 and served as its Lead Independent Director. He served as an Independent Director of GTECH S.p.A (formerly Lottomatica Group) and served as its Lead Independent Director from 2006 to 2014. He served as a Director of GTECH Corporation. Mr. Tondato da Ruos graduated in Economics and Commerce at Università Ca’ Foscari in Venice.
Gianmario Tondato's compensation has been consistent with company performance over the past year, both up more than 20%.
Gianmario Tondato's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure
Average tenure of the
management team in years:
The average tenure for the Autogrill management team is over 5 years, this suggests they are a seasoned and experienced team.
Gianmario Tondato Ruos
CFO & Corporate GM
Group Investor Relations Manager
Group General Counsel & Corporate Secretary
Group Chief Marketing Officer
Group Chief Engineering & Procurement Officer
Silvio de Girolamo
Group Chief Internal Audit
Chief Executive Officer of HMNHost North America and President of HMNHost North America
Chief Executive Officer of HMSHost International
CEO of the Europe Business Unit
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The tenure for the Autogrill board of directors is about average.
Autogrill S.p.A., through its subsidiaries, provides food and beverage services for travelers in North America, Italy, and other European countries. It also sells fuel. The company manages approximately 4,000 points of sale that are operated through concessions at airports, motorways, and railway stations; and in shopping centers, trade fairs, and cultural attractions, as well as on high streets. It manages a portfolio of approximately 300 brands directly or under license. The company was founded in 1947 and is headquartered in Rozzano, Italy. Autogrill S.p.A. is a subsidiary of Schematrentaquattro S.p.A.
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