BATS-CHIXE:PRTM

Stock Analysis Report

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Executive Summary

Esprinet S.p.A., together with its subsidiaries, engages in the wholesale distribution of information technology (IT) and consumer electronics primarily in Italy, Spain, Portugal, and rest of Europe. More Details


Snowflake Analysis

Excellent balance sheet and good value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-4.0%

PRTM

-3.5%

GB Electronic

-5.1%

GB Market


1 Year Return

84.8%

PRTM

19.4%

GB Electronic

-20.0%

GB Market

Return vs Industry: PRTM exceeded the UK Electronic industry which returned 20.9% over the past year.

Return vs Market: PRTM exceeded the UK Market which returned -19.3% over the past year.


Shareholder returns

PRTMIndustryMarket
7 Day-4.0%-3.5%-5.1%
30 Day-8.2%0.5%-4.3%
90 Day65.7%8.1%-4.5%
1 Year84.8%84.8%20.4%19.4%-17.0%-20.0%
3 Year71.4%59.4%35.1%29.8%-13.6%-24.3%
5 Year-6.0%-15.8%141.2%124.1%10.2%-14.6%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

15.16x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PRTM (€6.92) is trading above our estimate of fair value (€3.38)

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


Price To Earnings Ratio

PE vs Industry: PRTM is good value based on its PE Ratio (15.2x) compared to the GB Electronic industry average (27.5x).

PE vs Market: PRTM is good value based on its PE Ratio (15.2x) compared to the UK market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: PRTM is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: PRTM is good value based on its PB Ratio (1x) compared to the GB Electronic industry average (2.3x).


Next Steps

Future Growth

How is Esprinet forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

19.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PRTM's forecast earnings growth (19.2% per year) is above the savings rate (1.2%).

Earnings vs Market: PRTM's earnings (19.2% per year) are forecast to grow slower than the UK market (23.8% per year).

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

Revenue vs Market: PRTM's revenue (9.7% per year) is forecast to grow faster than the UK market (5.8% per year).

High Growth Revenue: PRTM's revenue (9.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PRTM's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Esprinet performed over the past 5 years?

-8.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PRTM has high quality earnings.

Growing Profit Margin: PRTM's current net profit margins (0.6%) are higher than last year (0.4%).


Past Earnings Growth Analysis

Earnings Trend: PRTM's earnings have declined by 8.4% per year over the past 5 years.

Accelerating Growth: PRTM's earnings growth over the past year (55%) exceeds its 5-year average (-8.4% per year).

Earnings vs Industry: PRTM earnings growth over the past year (55%) exceeded the Electronic industry -2.1%.


Return on Equity

High ROE: PRTM's Return on Equity (6.5%) is considered low.


Next Steps

Financial Health

How is Esprinet's financial position?


Financial Position Analysis

Short Term Liabilities: PRTM's short term assets (€1.3B) exceed its short term liabilities (€923.4M).

Long Term Liabilities: PRTM's short term assets (€1.3B) exceed its long term liabilities (€187.6M).


Debt to Equity History and Analysis

Debt Level: PRTM's debt to equity ratio (34.4%) is considered satisfactory.

Reducing Debt: PRTM's debt to equity ratio has increased from 33.3% to 34.4% over the past 5 years.

Debt Coverage: PRTM's debt is well covered by operating cash flow (259.1%).

Interest Coverage: PRTM's interest payments on its debt are well covered by EBIT (6.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Esprinet current dividend yield, its reliability and sustainability?

2.13%

Forecast Dividend Yield


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PRTM'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?

5.4yrs

Average board tenure


CEO

Alessandro Cattani (57 yo)

16.33yrs

Tenure

€702,000

Compensation

Mr. Alessandro Cattani has been Regional Deputy Chairman for Europe at Global Technology Distribution Council since July 2014. Mr. Cattani has been the Chief Executive Officer of Esprinet SpA since June 28 ...


CEO Compensation Analysis

Compensation vs Market: Alessandro's total compensation ($USD818.09K) is about average for companies of similar size in the UK market ($USD906.25K).

Compensation vs Earnings: Alessandro's compensation has increased by more than 20% in the past year.


Board Members

NamePositionTenureCompensationOwnership
Maurizio Rota
Chairman & President2.42yrs€703.00k0%
€ 0
Alessandro Cattani
CEO & Executive Director16.33yrs€702.00k1.33%
€ 4.7m
Mario Massari
Independent Director11.5yrs€77.00kno data
Matteo Stefanelli
Directorno data€71.00k1.64%
€ 5.8m
Marco Monti
Director11.5yrs€48.00kno data
Bettina Solimando
Chairman of Board of Statutory Auditors2.42yrs€27.00kno data
Cristina Galbusera
Independent Director7.42yrs€66.00kno data
Chiara Mauri
Independent Director8.08yrs€48.00kno data
Tommaso Stefanelli
Directorno data€71.00k1.74%
€ 6.2m
Emanuela Prandelli
Independent Directorno data€30.00kno data
Ariela Caglio
Independent Director3.42yrs€30.00kno data
Renata Ricotti
Independent director2.42yrs€48.00kno data

5.4yrs

Average Tenure

60yo

Average Age

Experienced Board: PRTM's board of directors are considered experienced (5.4 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Esprinet S.p.A.
  • Ticker: PRTM
  • Exchange: BATS-CHIXE
  • Founded:
  • Industry: Technology Distributors
  • Sector: Tech
  • Market Cap: €355.011m
  • Shares outstanding: 50.93m
  • Website: https://www.esprinet.com

Number of Employees


Location

  • Esprinet S.p.A.
  • Via Energy Park n. 20
  • Vimercate
  • Milan
  • 20871
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PRTBIT (Borsa Italiana)YesOrdinary SharesITEURJul 2001
0NFSLSE (London Stock Exchange)YesOrdinary SharesGBEURJul 2001
PRTMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJul 2001
EP4ADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2001

Biography

Esprinet S.p.A., together with its subsidiaries, engages in the wholesale distribution of information technology (IT) and consumer electronics primarily in Italy, Spain, Portugal, and rest of Europe. The c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/30 19:41
End of Day Share Price2020/10/29 00:00
Earnings2020/06/30
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.