LSE:0DHJ

Stock Analysis Report

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Executive Summary

Autogrill S.p.A., through its subsidiaries, provides food and beverage services for travelers in North America, Italy, and other European countries.


Snowflake Analysis

Solid track record and slightly overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 0DHJ's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

18.4%

0DHJ

3.6%

GB Hospitality

5.5%

GB Market


1 Year Return

-35.8%

0DHJ

-25.9%

GB Hospitality

-9.2%

GB Market

Return vs Industry: 0DHJ underperformed the UK Hospitality industry which returned -26.9% over the past year.

Return vs Market: 0DHJ underperformed the UK Market which returned -10% over the past year.


Shareholder returns

0DHJIndustryMarket
7 Day18.4%3.6%5.5%
30 Day43.4%6.8%10.8%
90 Day-3.1%-14.8%-0.4%
1 Year-34.4%-35.8%-23.4%-25.9%-4.8%-9.2%
3 Year-42.2%-45.2%-16.3%-25.4%-0.8%-12.9%
5 Year-19.5%-24.9%4.2%-14.4%18.1%-8.2%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Autogrill undervalued compared to its fair value and its price relative to the market?

7.48x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 0DHJ (€6.02) is trading above our estimate of fair value (€2.09)

Significantly Below Fair Value: 0DHJ is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 0DHJ is good value based on its PE Ratio (7.5x) compared to the Hospitality industry average (18.2x).

PE vs Market: 0DHJ is good value based on its PE Ratio (7.5x) compared to the UK market (15x).


Price to Earnings Growth Ratio

PEG Ratio: 0DHJ is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: 0DHJ is overvalued based on its PB Ratio (1.8x) compared to the GB Hospitality industry average (1x).


Next Steps

Future Growth

How is Autogrill forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0DHJ's forecast earnings growth (3.8% per year) is above the savings rate (1.2%).

Earnings vs Market: 0DHJ's earnings (3.8% per year) are forecast to grow slower than the UK market (21.2% per year).

High Growth Earnings: 0DHJ's earnings are forecast to grow, but not significantly.

Revenue vs Market: 0DHJ's revenue (0.5% per year) is forecast to grow slower than the UK market (3.6% per year).

High Growth Revenue: 0DHJ's revenue (0.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0DHJ's Return on Equity is forecast to be low in 3 years time (11.4%).


Next Steps

Past Performance

How has Autogrill performed over the past 5 years?

27.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0DHJ has a large one-off gain of €124.9M impacting its December 31 2019 financial results.

Growing Profit Margin: 0DHJ's current net profit margins (3.8%) are higher than last year (1.3%).


Past Earnings Growth Analysis

Earnings Trend: 0DHJ's earnings have grown significantly by 27.8% per year over the past 5 years.

Accelerating Growth: 0DHJ's earnings growth over the past year (198.8%) exceeds its 5-year average (27.8% per year).

Earnings vs Industry: 0DHJ earnings growth over the past year (198.8%) exceeded the Hospitality industry -10.9%.


Return on Equity

High ROE: 0DHJ's Return on Equity (24.2%) is considered high.


Next Steps

Financial Health

How is Autogrill's financial position?


Financial Position Analysis

Short Term Liabilities: 0DHJ's short term assets (€679.3M) do not cover its short term liabilities (€1.3B).

Long Term Liabilities: 0DHJ's short term assets (€679.3M) do not cover its long term liabilities (€3.1B).


Debt to Equity History and Analysis

Debt Level: 0DHJ's debt to equity ratio (96.6%) is considered high.

Reducing Debt: 0DHJ's debt to equity ratio has reduced from 181% to 96.6% over the past 5 years.

Debt Coverage: 0DHJ's debt is well covered by operating cash flow (77.1%).

Interest Coverage: 0DHJ's interest payments on its debt are not well covered by EBIT (2.1x coverage).


Balance Sheet


Next Steps

Dividend

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

2.23%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 0DHJ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 0DHJ'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 0DHJ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 0DHJ's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 0DHJ is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 0DHJ's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

Gianmario Tondato da Ruos (59yo)

17.33yrs

Tenure

€1,652,777

Compensation

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 ser ...


CEO Compensation Analysis

Compensation vs Market: Gianmario Tondato's total compensation ($USD1.87M) is about average for companies of similar size in the UK market ($USD1.68M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Gianmario Tondato da Ruos
Group CEO17.33yrs€1.65m0.29% 4.5m
Paolo Zannoni
Executive Chairman1.33yrsno datano data
Camillo Rossotto
CFO & Corporate GM1.33yrsno datano data
Lorenza Rivabene
Group Investor Relations Managerno datano datano data
Paola Bottero
Group General Counsel & Corporate Secretaryno datano datano data
Ezio Balarini
Group Chief Marketing Officerno datano datano data
Aldo Papa
Group Chief Engineering & Procurement Officer9.42yrsno datano data
Steve Johnson
Chief Executive Officer of HMNHost North America and President of HMNHost North Americano datano datano data
Walter Seib
Chief Executive Officer of HMSHost International8.33yrsno datano data
Andrea Cipolloni
CEO of the Europe Business Unit1.58yrsno datano data

5.0yrs

Average Tenure

Experienced Management: 0DHJ's management team is considered experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gianmario Tondato da Ruos
Group CEO17.33yrs€1.65m0.29% 4.5m
Paolo Zannoni
Executive Chairman1.33yrsno datano data
Alessandro Benetton
Directorno data€60.00kno data
Francesco Chiappetta
Independent Director6.08yrs€90.00kno data
Paolo Roverato
Director12.42yrs€100.00kno data
Rosalba Casiraghi
Independent Director0.083yrno datano data
Marco Giuseppe Rigotti
Chairman of Board of Statutory Auditors5.42yrs€81.97kno data
Massimo Di Fasanella di Ruffano
Lead Independent Directorno data€124.04kno data
Ernesto Albanese
Independent Director6.08yrs€70.00kno data
Simona Scarpaleggia
Independent Director0.083yrno datano data

5.8yrs

Average Tenure

57.5yo

Average Age

Experienced Board: 0DHJ'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: 0DHJ 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

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


Key Information

  • Name: Autogrill S.p.A.
  • Ticker: 0DHJ
  • Exchange: LSE
  • Founded: 1947
  • Industry: Restaurants
  • Sector: Consumer Services
  • Market Cap: €1.534b
  • Shares outstanding: 254.22m
  • Website: https://www.autogrill.com

Number of Employees


Location

  • Autogrill S.p.A.
  • Centro Direzionale Milanofiori
  • Palazzo Z
  • Rozzano
  • Milan
  • 20089
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AULDB (Deutsche Boerse AG)YesOrdinary SharesDEEURAug 1997
AGLBIT (Borsa Italiana)YesOrdinary SharesITEURAug 1997
0DHJLSE (London Stock Exchange)YesOrdinary SharesGBEURAug 1997
ATGS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDAug 1997
AGLMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURAug 1997
ATGS.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/05 22:10
End of Day Share Price2020/06/05 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.