AS Silvano Fashion Group (TLSE:SFG1T) - Share price, News & Analysis

Q: What is the Fair Price of SFG1T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SFG1T (€0.98) is trading below our estimate of [[fair value]] (€3.45)

SFG1T fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

SFG1T Stock Overview

AS Silvano Fashion Group, through its subsidiaries, designs, manufactures, distributes, franchises, and retails women’s lingerie.

Rewards

Trading at 71.6% below our estimate of its fair value

Earnings grew by 86.1% over the past year

Risk Analysis

Earnings have declined by 10% per year over past 5 years

Highly volatile share price over the past 3 months

Does not have a meaningful market cap (€35M)

AS Silvano Fashion Group Competitors

TOEBOX KOREA.Ltd

KOSDAQ:A215480

₩48.1b

Forward Fashion (International) Holdings

SEHK:2528

HK$232.0m

Reitmans (Canada)

OTCPK:RTMA.F

US$48.3m

Tandy Leather Factory

OTCPK:TLFA

US$41.1m

Price History & Performance

Summary of all time highs, changes and price drops for AS Silvano Fashion Group
Historical stock prices
Current Share Price	€0.98
52 Week High	€2.20
52 Week Low	€0.66
Beta	1.04
1 Month Change	11.38%
3 Month Change	33.75%
1 Year Change	-45.40%
3 Year Change	-57.02%
5 Year Change	-63.70%
Change since IPO	-71.59%

Recent News & Updates

Jun 03

AS Silvano Fashion Group (TAL:SFG1T) Hasn't Managed To Accelerate Its Returns

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...

Apr 02

Is It Too Late To Consider Buying AS Silvano Fashion Group (TAL:SFG1T)?

AS Silvano Fashion Group ( TAL:SFG1T ), might not be a large cap stock, but it led the TLSE gainers with a relatively...

Shareholder Returns

	SFG1T	EE Specialty Retail	EE Market
7D	-4.9%	2.5%	4.6%
1Y	-45.4%	-21.4%	-11.4%

Return vs Industry: SFG1T underperformed the EE Specialty Retail industry which returned -21.4% over the past year.

Return vs Market: SFG1T underperformed the EE Market which returned -11.4% over the past year.

Price Volatility

Is SFG1T's price volatile compared to industry and market?
SFG1T volatility
SFG1T Average Weekly Movement	6.6%
Specialty Retail Industry Average Movement	5.6%
Market Average Movement	2.9%
10% most volatile stocks in EE Market	4.5%
10% least volatile stocks in EE Market	1.9%

Stable Share Price: SFG1T is more volatile than 90% of EE stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: SFG1T's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of EE stocks.

About the Company

Founded	Employees	CEO	Website
1908	1,607	n/a	https://www.silvanofashion.com

AS Silvano Fashion Group, through its subsidiaries, designs, manufactures, distributes, franchises, and retails women’s lingerie. It sells its lingerie, beachwear, and underwear products under the Milavitsa, Alisee, Aveline, Lauma Lingerie, Laumelle, and Hidalgo branded products through wholesale channel and franchised stores, as well as through Milavitsa and Lauma Lingerie retail stores. The company also offers logistics services.

AS Silvano Fashion Group Fundamentals Summary

How do AS Silvano Fashion Group's earnings and revenue compare to its market cap?
SFG1T fundamental statistics
Market Cap	€35.28m
Earnings (TTM)	€12.35m
Revenue (TTM)	€49.83m

2.9x

P/E Ratio

0.7x

P/S Ratio

Is SFG1T overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SFG1T income statement (TTM)
Revenue	€49.83m
Cost of Revenue	€25.20m
Gross Profit	€24.63m
Other Expenses	€12.29m
Earnings	€12.35m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.34
Gross Margin	49.44%
Net Profit Margin	24.78%
Debt/Equity Ratio	0%

How did SFG1T perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is SFG1T undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SFG1T?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SFG1T. This is calculated by dividing SFG1T's market cap by their current preferred multiple.
What is SFG1T's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€35.28m

SFG1T key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.5x
Enterprise Value/EBITDA	2.4x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does SFG1T's PE Ratio compare to its peers?

SFG1T PE Ratio vs Peers

The above table shows the PE ratio for SFG1T vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	13.5x
A215480 TOEBOX KOREA.Ltd	13.8x	n/a	₩48.1b
2528 Forward Fashion (International) Holdings	7.2x	n/a	HK$232.0m
RTMA.F Reitmans (Canada)	0.4x	n/a	US$48.3m
TLFA Tandy Leather Factory	32.8x	49.8%	US$41.1m
SFG1T AS Silvano Fashion Group	2.9x	n/a	€35.3m

Price-To-Earnings vs Peers: SFG1T is good value based on its Price-To-Earnings Ratio (2.9x) compared to the peer average (13.5x).

Price to Earnings Ratio vs Industry

How does SFG1T's PE Ratio compare vs other companies in the European Specialty Retail Industry?

Price-To-Earnings vs Industry: SFG1T is good value based on its Price-To-Earnings Ratio (2.9x) compared to the European Specialty Retail industry average (11x)

Price to Earnings Ratio vs Fair Ratio

What is SFG1T's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SFG1T PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	2.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SFG1T's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of SFG1T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SFG1T (€0.98) is trading below our estimate of fair value (€3.45)

Significantly Below Fair Value: SFG1T is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is AS Silvano Fashion Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

11.8%

Forecasted Retail 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 AS Silvano Fashion Group 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.

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Examine whether AS Silvano Fashion Group is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has AS Silvano Fashion Group performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-10.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SFG1T has high quality earnings.

Growing Profit Margin: SFG1T's current net profit margins (24.8%) are higher than last year (15.1%).

Past Earnings Growth Analysis

Earnings Trend: SFG1T's earnings have declined by 10% per year over the past 5 years.

Accelerating Growth: SFG1T's earnings growth over the past year (86.1%) exceeds its 5-year average (-10% per year).

Earnings vs Industry: SFG1T earnings growth over the past year (86.1%) exceeded the Specialty Retail industry 37%.

Return on Equity

High ROE: SFG1T's Return on Equity (27.8%) is considered high.

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Financial Health

How is AS Silvano Fashion Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: SFG1T's short term assets (€48.5M) exceed its short term liabilities (€8.5M).

Long Term Liabilities: SFG1T's short term assets (€48.5M) exceed its long term liabilities (€8.3M).

Debt to Equity History and Analysis

Debt Level: SFG1T is debt free.

Reducing Debt: SFG1T had no debt 5 years ago.

Debt Coverage: SFG1T has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: SFG1T has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is AS Silvano Fashion Group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate SFG1T's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SFG1T's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SFG1T's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SFG1T's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: SFG1T is not paying a notable dividend for the EE market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SFG1T has not reported any payouts.

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Management

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

3.3yrs

Average board tenure

CEO

AS Silvano Fashion Group has no CEO, or we have no data on them.

Board Members

Experienced Board: SFG1T's board of directors are considered experienced (3.3 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.

Ownership Breakdown

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

Data	Last Updated (UTC time)
Company Analysis	2022/08/12 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31