BIT:IMS

Stock Analysis Report

Executive Summary

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


Snowflake Analysis

Fair value with questionable track record.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-5.2%

IMS

-4.5%

IT Auto

-1.1%

IT Market


1 Year Return

-39.9%

IMS

-54.1%

IT Auto

-26.2%

IT Market

Return vs Industry: IMS exceeded the Italian Auto industry which returned -54.1% over the past year.

Return vs Market: IMS underperformed the Italian Market which returned -26.1% over the past year.


Shareholder returns

IMSIndustryMarket
7 Day-5.2%-4.5%-1.1%
30 Day-18.8%-40.3%-18.8%
90 Day-42.7%-51.5%-28.7%
1 Year-39.9%-39.9%-47.1%-54.1%-23.0%-26.2%
3 Year-21.3%-21.3%-24.6%-35.1%-13.5%-22.1%
5 Year-51.8%-53.6%-48.9%-56.6%-26.2%-51.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IMS (€0.32) is trading below our estimate of fair value (€2.92)

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 PE Ratio (13.7x) compared to the Auto industry average (8.3x).

PE vs Market: IMS is poor value based on its PE Ratio (13.7x) compared to the Italian market (12.7x).


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 PB Ratio (0.5x) compared to the IT Auto industry average (0.9x).


Next Steps

Future Growth

How is Immsi forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.7%

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.


Next Steps

Past Performance

How has Immsi performed over the past 5 years?

80.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IMS has high quality earnings.

Growing Profit Margin: IMS's current net profit margins (0.5%) are lower than last year (0.9%).


Past Earnings Growth Analysis

Earnings Trend: IMS has become profitable over the past 5 years, growing earnings by 80.4% per year.

Accelerating Growth: IMS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: IMS had negative earnings growth (-38.7%) over the past year, making it difficult to compare to the Auto industry average (-10%).


Return on Equity

High ROE: IMS's Return on Equity (6.1%) is considered low.


Next Steps

Financial Health

How is Immsi's financial position?


Financial Position Analysis

Short Term Liabilities: IMS's short term assets (€734.8M) do not cover its short term liabilities (€1.1B).

Long Term Liabilities: IMS's short term assets (€734.8M) exceed its long term liabilities (€632.6M).


Debt to Equity History and Analysis

Debt Level: IMS's debt to equity ratio (270.3%) is considered high.

Reducing Debt: IMS's debt to equity ratio has increased from 232.2% to 270.3% over the past 5 years.


Balance Sheet

Inventory Level: IMS has a high level of physical assets or inventory.

Debt Coverage by Assets: IMS's debt is not covered by short term assets (assets are 0.7x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: IMS is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: IMS is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: IMS is not paying a notable dividend for the Italian market.


Future Payout to Shareholders

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


Next Steps

Management

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

11.5yrs

Average board tenure


CEO

Michele Colaninno (43yo)

4.92s

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: Michele's total compensation ($USD0.00) is below average for companies of similar size in the Italian market ($USD350.57K).

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


Board Members

NamePositionTenureCompensationOwnership
Michele Colaninno
CEO, GM4.92yrs€691.20kno data
Ruggero Magnoni
Director9.67yrs€40.00kno data
Marco Reboa
Chairman of Supervisory Boardno data€42.92kno data
Roberto Colaninno
Chairman13.92yrs€890.00kno data
Alessandro Lai
Chairman of the Board of Statutory Auditors & Member of Supervisory boardno data€56.61kno data
Matteo Colaninno
Director17.25yrs€40.00kno data
Daniele Discepolo
Vice Chairman & Lead Independent Directorno data€31.92kno data
Maurizio Strozzi
Internal Audit Department Manager & Member of Supervisory boardno datano datano data
Rita Ciccone
Non-Executive Independent Director7.92yrs€45.00kno data
Patrizia Pasquale
Director4.92yrs€25.53kno data

11.5yrs

Average Tenure

59yo

Average Age

Experienced Board: IMS's board of directors are seasoned and experienced ( 11.5 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.


Top Shareholders

Company Information

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


Key Information

  • Name: Immsi S.p.A.
  • Ticker: IMS
  • Exchange: BIT
  • Founded: 2000
  • Industry: Motorcycle Manufacturers
  • Sector: Automobiles
  • Market Cap: €108.629m
  • Shares outstanding: 340.53m
  • Website: https://www.immsi.it

Number of Employees


Location

  • Immsi S.p.A.
  • P.zza Vilfredo Pareto
  • 3 Centro Direzionale Boma
  • Mantova
  • Mantova
  • 46100
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IMYDB (Deutsche Boerse AG)YesCommon StockDEEURFeb 2000
IMSBIT (Borsa Italiana)YesCommon StockITEURFeb 2000
0O2XLSE (London Stock Exchange)YesCommon StockGBEURFeb 2000
IMSMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURFeb 2000

Biography

Immsi S.p.A. operates in property and holding, industrial, and marine sectors in Italy, India, the United States, and internationally. It operates a tourist and holiday resort; and manages a building in Rome, as well as 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 brands; and three-and four-wheeled light transport vehicles under the Ape, Porter, and Quargo names, as well as offers engines, spare parts, and accessories. In addition, it constructs high speed ships, such as hydrofoils and fast ferries comprising mono-hulls and catamarans, yachts, and mine-hunters and fast patrol boats for military marines. The company was founded in 2000 and is based in Mantova, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 20:53
End of Day Share Price2020/04/03 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.