Immsi (BIT:IMS) - Share price, News & Analysis

IMS fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	3/6
Financial Health	2/6
Dividends	4/6

IMS Stock Overview

Immsi S.p.A. operates in property and holding, industrial, and marine sectors in Italy, rest of Europe, India, the United States, and internationally.

Rewards

Trading at 42% below our estimate of its fair value

Earnings have grown 30% per year over the past 5 years

Risk Analysis

Interest payments are not well covered by earnings

Unstable dividend track record

Immsi Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Immsi
Historical stock prices
Current Share Price	€0.42
52 Week High	€0.59
52 Week Low	€0.34
Beta	1.36
1 Month Change	-7.56%
3 Month Change	6.26%
1 Year Change	-12.70%
3 Year Change	-21.81%
5 Year Change	4.63%
Change since IPO	-84.93%

Recent News & Updates

Apr 16

Robust Earnings May Not Tell The Whole Story For Immsi (BIT:IMS)

Immsi S.p.A.'s ( BIT:IMS ) robust recent earnings didn't do much to move the stock. However the statutory profit number...

Oct 12

We Think Immsi (BIT:IMS) Is Taking Some Risk With Its Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

	IMS	IT Auto	IT Market
7D	-3.3%	-4.3%	-1.4%
1Y	-12.7%	-15.4%	-5.9%

Return vs Industry: IMS exceeded the Italian Auto industry which returned -15.4% over the past year.

Return vs Market: IMS underperformed the Italian Market which returned -5.9% over the past year.

Price Volatility

Is IMS's price volatile compared to industry and market?
IMS volatility
IMS Average Weekly Movement	6.0%
Auto Industry Average Movement	6.8%
Market Average Movement	6.1%
10% most volatile stocks in IT Market	8.5%
10% least volatile stocks in IT Market	3.8%

Stable Share Price: IMS is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: IMS's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2000	5,997	Michele Colaninno	https://www.immsi.it

Immsi S.p.A. operates in property and holding, industrial, and marine sectors in Italy, rest of Europe, India, the United States, and internationally. It operates a tourist and holiday resort; and invests in real estate development projects. The company also manufactures two-wheeled motor vehicles, including scooters, mopeds, and motorcycles under the Piaggio, Vespa, Gilera, Aprilia, Moto Guzzi, Derbi, and Scarabeo brand names; and three-and four-wheeled light transport vehicles under the Ape, Porter, and Quargo names, as well as offers engines, spare parts, and accessories.

Immsi Fundamentals Summary

How do Immsi's earnings and revenue compare to its market cap?
IMS fundamental statistics
Market Cap	€141.32m
Earnings (TTM)	€12.27m
Revenue (TTM)	€1.71b

11.5x

P/E Ratio

0.1x

P/S Ratio

Is IMS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
IMS income statement (TTM)
Revenue	€1.71b
Cost of Revenue	€1.29b
Gross Profit	€424.42m
Other Expenses	€412.15m
Earnings	€12.27m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.036
Gross Margin	24.83%
Net Profit Margin	0.72%
Debt/Equity Ratio	264.9%

How did IMS perform over the long term?

See historical performance and comparison

Dividends

7.2%

Current Dividend Yield

83%

Payout Ratio

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

42.0%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: IMS (€0.42) is trading below our estimate of fair value (€0.72)

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

Price To Earnings Ratio

PE vs Industry: IMS is poor value based on its Price-To-Earnings Ratio (11.5x) compared to the European Auto industry average (9x).

PE vs Market: IMS is good value based on its Price-To-Earnings Ratio (11.5x) compared to the Italian market (17.7x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate IMS's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: IMS is good value based on its Price-To-Book Ratio (0.6x) compared to the IT Auto industry average (1.7x).

Future Growth

How is Immsi 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

3.6%

Forecasted Automobiles 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 Immsi 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.

Past Performance

How has Immsi performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

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

30.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IMS has high quality earnings.

Growing Profit Margin: IMS's current net profit margins (0.7%) are higher than last year (0.7%).

Past Earnings Growth Analysis

Earnings Trend: IMS has become profitable over the past 5 years, growing earnings by 30% per year.

Accelerating Growth: IMS's earnings growth over the past year (25.8%) is below its 5-year average (30% per year).

Earnings vs Industry: IMS earnings growth over the past year (25.8%) underperformed the Auto industry 56.9%.

Return on Equity

High ROE: IMS's Return on Equity (9.1%) is considered low.

Financial Health

How is Immsi's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

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

Financial Position Analysis

Short Term Liabilities: IMS's short term assets (€837.7M) do not cover its short term liabilities (€1.2B).

Long Term Liabilities: IMS's short term assets (€837.7M) exceed its long term liabilities (€688.4M).

Debt to Equity History and Analysis

Debt Level: IMS's net debt to equity ratio (189.7%) is considered high.

Reducing Debt: IMS's debt to equity ratio has reduced from 285.7% to 264.9% over the past 5 years.

Debt Coverage: IMS's debt is not well covered by operating cash flow (19.2%).

Interest Coverage: IMS's interest payments on its debt are not well covered by EBIT (2.3x coverage).

Balance Sheet

Dividend

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

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

7.21%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: IMS's dividend (7.21%) is higher than the bottom 25% of dividend payers in the Italian market (1.63%).

High Dividend: IMS's dividend (7.21%) is in the top 25% of dividend payers in the Italian market (4.81%)

Stability and Growth of Payments

Stable Dividend: IMS's dividend payments have been volatile in the past 10 years.

Growing Dividend: IMS's dividend payments have not increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (83.3%), IMS's payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (26.4%), IMS's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

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

9.4yrs

Average board tenure

CEO

Michele Colaninno (45 yo)

7yrs

Tenure

€691,200

Compensation

Mr. Michele Colaninno has been the Chief Executive Officer of Immsi SpA since May 13, 2015 and has been its Managing Director since 2010 and also serves as its Internal Control and Risk Management System D...

CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Michele's total compensation is reasonable compared to companies of similar size in the Italian market.

Compensation vs Earnings: Insufficient data to compare Michele's compensation with company performance.

Board Members

Experienced Board: IMS's board of directors are considered experienced (9.4 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/25 00:00
End of Day Share Price	2022/05/25 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31