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PIA

Piaggio & C BIT:PIA Stock Report

Last Price

€2.40

Market Cap

€855.4m

7D

-0.6%

1Y

-25.2%

Updated

23 May, 2022

Data

Company Financials +
PIA fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance4/6
Financial Health4/6
Dividends4/6

PIA Stock Overview

Piaggio & C. SpA, together with its subsidiaries, develops, manufactures, and distributes two-wheeler and commercial motor vehicles.

Piaggio & C Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Piaggio & C
Historical stock prices
Current Share Price€2.40
52 Week High€3.62
52 Week Low€2.19
Beta1.05
1 Month Change-3.93%
3 Month Change-12.87%
1 Year Change-25.22%
3 Year Change-5.15%
5 Year Change19.86%
Change since IPO-2.60%

Recent News & Updates

Apr 06
Piaggio & C (BIT:PIA) Shareholders Will Want The ROCE Trajectory To Continue

Piaggio & C (BIT:PIA) Shareholders Will Want The ROCE Trajectory To Continue

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...

Mar 17
Calculating The Intrinsic Value Of Piaggio & C. SpA (BIT:PIA)

Calculating The Intrinsic Value Of Piaggio & C. SpA (BIT:PIA)

How far off is Piaggio & C. SpA ( BIT:PIA ) from its intrinsic value? Using the most recent financial data, we'll take...

Mar 06
Piaggio & C (BIT:PIA) Has Announced That It Will Be Increasing Its Dividend To €0.065

Piaggio & C (BIT:PIA) Has Announced That It Will Be Increasing Its Dividend To €0.065

Piaggio & C. SpA ( BIT:PIA ) will increase its dividend on the 21st of April to €0.065. This will take the annual...

Shareholder Returns

PIAIT AutoIT Market
7D-0.6%-1.1%-0.5%
1Y-25.2%-12.6%-5.0%

Return vs Industry: PIA underperformed the Italian Auto industry which returned -11.9% over the past year.

Return vs Market: PIA underperformed the Italian Market which returned -5.5% over the past year.

Price Volatility

Is PIA's price volatile compared to industry and market?
PIA volatility
PIA Average Weekly Movement4.7%
Auto Industry Average Movement6.8%
Market Average Movement6.1%
10% most volatile stocks in IT Market8.5%
10% least volatile stocks in IT Market3.8%

Stable Share Price: PIA is less volatile than 75% of Italian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: PIA's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18846,332Roberto Colaninnohttps://www.piaggiogroup.com

Piaggio & C. SpA, together with its subsidiaries, develops, manufactures, and distributes two-wheeler and commercial motor vehicles. The company provides two-wheelers, including scooters, motorcycles, and mopeds, as well as related spare parts and accessories under the Piaggio, Vespa, Aprilia, Moto Guzzi, Gilera, Derbi, and Scarabeo brands. It also offers three-and four-wheeler light commercial vehicles, as well as related spare parts and accessories for commercial and private use under the Ape and Porter brands; and smart robots for transportation.

Piaggio & C Fundamentals Summary

How do Piaggio & C's earnings and revenue compare to its market cap?
PIA fundamental statistics
Market Cap€855.42m
Earnings (TTM)€61.62m
Revenue (TTM)€1.74b

13.9x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PIA income statement (TTM)
Revenue€1.74b
Cost of Revenue€1.32b
Gross Profit€424.51m
Other Expenses€362.89m
Earnings€61.62m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 28, 2022

Earnings per share (EPS)0.17
Gross Margin24.40%
Net Profit Margin3.54%
Debt/Equity Ratio153.2%

How did PIA perform over the long term?

See historical performance and comparison

Dividends

6.3%

Current Dividend Yield

87%

Payout Ratio

Valuation

Is Piaggio & C undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


13.88x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: PIA (€2.4) is trading above our estimate of fair value (€2.35)

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


Price To Earnings Ratio

PE vs Industry: PIA is poor value based on its PE Ratio (13.9x) compared to the European Auto industry average (9.2x).

PE vs Market: PIA is good value based on its PE Ratio (13.9x) compared to the Italian market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: PIA is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: PIA is overvalued based on its PB Ratio (2x) compared to the IT Auto industry average (1.7x).


Future Growth

How is Piaggio & C forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


16.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PIA's forecast earnings growth (16% per year) is above the savings rate (1.7%).

Earnings vs Market: PIA's earnings (16% per year) are forecast to grow faster than the Italian market (9.5% per year).

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

Revenue vs Market: PIA's revenue (6.5% per year) is forecast to grow faster than the Italian market (0.06% per year).

High Growth Revenue: PIA's revenue (6.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PIA's Return on Equity is forecast to be high in 3 years time (21.3%)


Past Performance

How has Piaggio & C performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


21.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PIA has high quality earnings.

Growing Profit Margin: PIA's current net profit margins (3.5%) are higher than last year (2.8%).


Past Earnings Growth Analysis

Earnings Trend: PIA's earnings have grown significantly by 21.8% per year over the past 5 years.

Accelerating Growth: PIA's earnings growth over the past year (56.9%) exceeds its 5-year average (21.8% per year).

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


Return on Equity

High ROE: PIA's Return on Equity (14.8%) is considered low.


Financial Health

How is Piaggio & C's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PIA's short term assets (€785.4M) do not cover its short term liabilities (€911.7M).

Long Term Liabilities: PIA's short term assets (€785.4M) exceed its long term liabilities (€604.7M).


Debt to Equity History and Analysis

Debt Level: PIA's net debt to equity ratio (100.3%) is considered high.

Reducing Debt: PIA's debt to equity ratio has reduced from 170.5% to 153.2% over the past 5 years.

Debt Coverage: PIA's debt is well covered by operating cash flow (30.1%).

Interest Coverage: PIA's interest payments on its debt are well covered by EBIT (5.9x coverage).


Balance Sheet


Dividend

What is Piaggio & C current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


6.26%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PIA's dividend (6.26%) is higher than the bottom 25% of dividend payers in the Italian market (1.62%).

High Dividend: PIA's dividend (6.26%) is in the top 25% of dividend payers in the Italian market (4.79%)


Stability and Growth of Payments

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

Growing Dividend: PIA's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (86.9%), PIA's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (112.3%), PIA's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

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

7.6yrs

Average management tenure


CEO

Roberto Colaninno (78 yo)

15.58yrs

Tenure

€1,290,000

Compensation

Mr. Roberto Colaninno has been the Chief Executive Officer of Piaggio & C. SpA since November 26, 2006 and served as its President and Director in charge of Internal Audit. Mr. Colaninno serves as Managing...


CEO Compensation Analysis

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

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


Leadership Team

Experienced Management: PIA's management team is seasoned and experienced (7.6 years average tenure).


Board Members

Experienced Board: PIA's board of directors are considered experienced (7.1 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

Piaggio & C. SpA's employee growth, exchange listings and data sources


Key Information

  • Name: Piaggio & C. SpA
  • Ticker: PIA
  • Exchange: BIT
  • Founded: 1884
  • Industry: Motorcycle Manufacturers
  • Sector: Automobiles
  • Implied Market Cap: €855.423m
  • Shares outstanding: 357.02m
  • Website: https://www.piaggiogroup.com

Number of Employees


Location

  • Piaggio & C. SpA
  • Viale Rinaldo Piaggio, 25
  • Pontedera
  • Pisa
  • 56025
  • Italy

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/23 00:00
End of Day Share Price2022/05/23 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.