BIT:SO

Stock Analysis Report

Executive Summary

Sogefi S.p.A. designs, develops, and produces filtration systems, suspension components, air management, and engine cooling systems for the automotive industry worldwide.

Snowflake

Fundamentals

Fair value with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

5.8%

SO

5.2%

IT Auto Components

2.3%

IT Market


1 Year Return

-26.5%

SO

-11.9%

IT Auto Components

10.0%

IT Market

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

Return vs Market: SO underperformed the Italian Market which returned 10% over the past year.


Share holder returns

SOIndustryMarket
7 Day5.8%5.2%2.3%
30 Day-7.0%-4.1%-0.8%
90 Day2.5%-6.7%-1.4%
1 Year-26.5%-26.5%-9.5%-11.9%14.8%10.0%
3 Year-28.7%-28.7%-12.7%-19.9%31.5%13.3%
5 Year-45.3%-45.3%20.8%7.1%25.0%-24.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Sogefi undervalued based on future cash flows and its price relative to the stock market?

15%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: SO (€1.27) is trading below our estimate of fair value (€1.48)

Significantly Undervalued: SO is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: SO is poor value based on its PE Ratio (28.8x) compared to the Auto Components industry average (17.5x).

PE vs Market: SO is poor value based on its PE Ratio (28.8x) compared to the Italian market (16.8x).


Price Based on Expected Growth

Low PEG Ratio: SO is good value based on its PEG Ratio (0.5x)


Price Based on Value of Assets

PB vs Industry: SO is good value based on its PB Ratio (0.8x) compared to the IT Auto Components industry average (1.2x).


Next Steps

Future Growth

How is Sogefi expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

56.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: SO's forecast earnings growth (56.3% per year) is above the savings rate (2.9%).

Earnings vs Market: SO's earnings (56.3% per year) are forecast to grow faster than the Italian market (8.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SO's revenue (1.5% per year) is forecast to grow slower than the Italian market (3.2% per year).

High Growth Revenue: SO's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: SO's Return on Equity is forecast to be low in 3 years time (11.6%).


Next Steps

Past Performance

How has Sogefi performed over the past 5 years?

21.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SO has become profitable over the past 5 years, growing earnings by 21.9% per year.

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

Earnings vs Industry: SO had negative earnings growth (-72.7%) over the past year, making it difficult to compare to the Auto Components industry average (-6.3%).


Return on Equity

High ROE: SO's Return on Equity (4%) is considered low.


Return on Assets

ROA vs Industry: SO's Return on Assets is below or equal to the Auto Components industry average last year.


Return on Capital Employed

ROCE Improving: SO's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Sogefi's financial position?


Financial Position Analysis

Short Term Liabilities: SO's short term assets (€442.4M) do not cover its short term liabilities (€532.0M)

Long Term Liabilities: SO's short term assets (442.4M) do not cover its long term liabilities (503.4M)


Debt to Equity History and Analysis

Debt Level: SO's debt to equity ratio (179.6%) is considered high

Reducing Debt: SO's debt to equity ratio has reduced from 230.7% to 179.6% over the past 5 years.

Debt Coverage: SO's debt is well covered by operating cash flow (31.5%).

Interest Coverage: SO's interest payments on its debt are not well covered by EBIT (2.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: SO's debt is covered by short term assets (assets are 1.145160x debt).


Next Steps

Dividend

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

3.60%

Expected Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%2.1%markettop25%4.4%industryaverage3.1%forecastin3Years3.6%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

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

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

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

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


Current Payout to Shareholders

Dividend Coverage: SO is not paying a notable dividend for .


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Sogefi's salary, the management and board of directors tenure and is there insider trading?

0.8yrs

Average management tenure


CEO

Laurent Hebenstreit 0

4.3yrs

Tenure

€486,000

Compensation

Mr. Laurent Hebenstreit has been the Chief Executive Officer, Managing Director and General Manager of Sogefi SpA since July 4, 2017. Mr. Hebenstreit served as the Managing Director of Sogefi SpA since Jun ...


CEO Compensation Analysis

Compensation vs. Market: Laurent's total compensation ($USD0.00) is too low to compare against companies of similar size in the Italian market ($USD0.00).

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


Management Age and Tenure

0.8yrs

Average Tenure

Experienced Management: SO's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Age and Tenure

4.3yrs

Average Tenure

65.5yo

Average Age

Experienced Board: SO's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Yann Albrand (62yo)

    Group CFO & Investors Relation

    • Tenure: 4.2yrs
  • Laurent Hebenstreit

    MD, GM, CEO & Director

    • Tenure: 4.3yrs
    • Compensation: €486.00k
  • Renato Ruscazio

    Controlling Manager

    • Tenure: 0yrs
  • Alberto Obert

    Chief Executive Officer of Sogefi Rejna Spa

    • Tenure: 0yrs
  • Mario Milani

    Head of Sogefi Filtration South America

    • Tenure: 0yrs
  • Vittorio Argento

    Corporate Development Manager

    • Tenure: 0yrs
  • Niccolò Moreschini

    General Counsel & Secretary of the Board

    • Tenure: 0.8yrs
  • Giorgio Imposimato

    Chief Audit Executive

    • Tenure: 0yrs
  • Valentina Paduano

    Chief Risk Officer

    • Tenure: 0.6yrs
  • Pasquale Colicchia

    Suspensions Business Unit CEO

    • Tenure: 0.6yrs

Board Members

  • Carlo De Benedetti (85yo)

    Honorary Chairman

    • Tenure: 0yrs
  • Giovanni Germano (81yo)

    Director

    • Tenure: 30.8yrs
    • Compensation: €25.00k
  • Rodolfo De Benedetti (58yo)

    Director

    • Tenure: 0yrs
    • Compensation: €63.00k
  • Laurent Hebenstreit

    MD, GM, CEO & Director

    • Tenure: 4.3yrs
    • Compensation: €486.00k
  • Paolo Rocca (72yo)

    Lead Director

    • Tenure: 0yrs
    • Compensation: €25.00k
  • Roberta Di Vieto (50yo)

    Director

    • Tenure: 9.5yrs
    • Compensation: €30.00k
  • Monica Mondardini (59yo)

    Chairman

    • Tenure: 4.3yrs
    • Compensation: €77.00k
  • Mauro Melis

    Director

    • Tenure: 3.4yrs
  • Patrizia Canziani

    Director

    • Tenure: 3.4yrs
  • Sonia Peron

    Chairman of the Board of Statutory Auditors

    • Tenure: 1.5yrs

Company Information

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


Key Information

  • Name: Sogefi S.p.A.
  • Ticker: SO
  • Exchange: BIT
  • Founded: 1980
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: €148.943m
  • Shares outstanding: 117.74m
  • Website: https://www.sogefigroup.com

Number of Employees


Location

  • Sogefi S.p.A.
  • Via Ciovassino 1/a
  • Milan
  • Milan
  • 20121
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SOBIT (Borsa Italiana)YesOrdinary SharesITEURJan 1992
0NV0LSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
SOMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992

Biography

Sogefi S.p.A. designs, develops, and produces filtration systems, suspension components, air management, and engine cooling systems for the automotive industry worldwide. Its products include intake manifo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 20:52
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.

© 2018 SIMPLY WALL STREET PTY LTD, COMMUNITY DESIGN 2845206, US DESIGN PATENT #29/544/281, EUROPEAN DESIGN REGISTRATION #2845206, STANDARD & POOR’S FINANCIAL SERVICES LLC. ALL RIGHTS RESERVED.

Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.

Copyright © 2018, Standard & Poor’s Financial Services LLC. Reproduction of S&P Capital IQ in any form is prohibited except with the prior written permission of S&P. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. S&P DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P be liable for any direct, indirect, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with subscriber’s or others’ use of S&P Capital IQ. (2018)