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

Moderate growth potential with mediocre balance sheet.


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

Stable Share Price: SO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.2%

SO

2.7%

IT Auto Components

1.0%

IT Market


1 Year Return

2.5%

SO

0.9%

IT Auto Components

18.4%

IT Market

Return vs Industry: SO matched the Italian Auto Components industry which returned 0.9% over the past year.

Return vs Market: SO underperformed the Italian Market which returned 18.4% over the past year.


Shareholder returns

SOIndustryMarket
7 Day-3.2%2.7%1.0%
30 Day21.0%8.3%5.9%
90 Day28.9%22.7%15.0%
1 Year2.5%2.5%3.8%0.9%23.8%18.4%
3 Year-28.6%-28.6%-0.4%-8.6%40.9%20.8%
5 Year-28.2%-28.2%29.2%14.4%28.0%-21.4%

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 compared to its fair value and its price relative to the market?

34.98x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SO (€1.54) is trading above our estimate of fair value (€1.07)

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


Price To Earnings Ratio

PE vs Industry: SO is poor value based on its PE Ratio (35x) compared to the Auto Components industry average (17.9x).

PE vs Market: SO is poor value based on its PE Ratio (35x) compared to the Italian market (17.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SO is good value based on its PB Ratio (0.9x) compared to the IT Auto Components industry average (1.2x).


Next Steps

Future Growth

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

70.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SO's forecast earnings growth (70.8% per year) is above the savings rate (2.9%).

Earnings vs Market: SO's earnings (70.8% 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 (2% per year) is forecast to grow slower than the Italian market (3.1% per year).

High Growth Revenue: SO's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SO's Return on Equity is forecast to be low in 3 years time (11.3%).


Next Steps

Past Performance

How has Sogefi performed over the past 5 years?

11.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SO has large one-off items impacting its financial results.

Growing Profit Margin: SO's current net profit margins (0.09%) are lower than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: SO has become profitable over the past 5 years, growing earnings by 11.6% 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 (-91%) over the past year, making it difficult to compare to the Auto Components industry average (-59.5%).


Return on Equity

High ROE: SO's Return on Equity (2.3%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Sogefi's financial position?


Financial Position Analysis

Short Term Liabilities: SO's short term assets (€446.5M) do not cover its short term liabilities (€524.9M)

Long Term Liabilities: SO's short term assets (446.5M) do not cover its long term liabilities (515.2M)


Debt to Equity History and Analysis

Debt Level: SO's debt to equity ratio (187.2%) is considered high

Reducing Debt: SO's debt to equity ratio has reduced from 231% to 187.2% over the past 5 years.

Debt Coverage: SO's debt is well covered by operating cash flow (36.5%).

Interest Coverage: SO's interest payments on its debt are well covered by EBIT (3.2x 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 1.1x debt).


Next Steps

Dividend

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

2.76%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%2.0%markettop25%4.4%industryaverage3.4%forecastin3Years2.8%

Current dividend yield vs market & industry

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.


Stability and Growth of Payments

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 the Italian market.


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

4.4yrs

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 ($USD0.00) is about average for companies of similar size in the Italian market ($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

4.0yrs

Average Tenure

65.5yo

Average Age

Experienced Board: SO's board of directors are considered experienced (4 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

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


Management Team

  • Yann Albrand (62yo)

    Group CFO & Investors Relation

    • Tenure: 4.3yrs
  • Laurent Hebenstreit

    MD, GM, CEO & Director

    • Tenure: 4.4yrs
    • 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: 0.7yrs
  • Pasquale Colicchia

    Suspensions Business Unit CEO

    • Tenure: 0.7yrs

Board Members

  • Carlo De Benedetti (85yo)

    Honorary Chairman

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

    Independent Director

    • Tenure: 30.8yrs
    • Compensation: €25.00k
  • Laurent Hebenstreit

    MD, GM, CEO & Director

    • Tenure: 4.4yrs
    • Compensation: €486.00k
  • Paolo Rocca (72yo)

    Lead Director

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

    Independent Director

    • Tenure: 9.6yrs
    • Compensation: €30.00k
  • Monica Mondardini (59yo)

    Chairman

    • Tenure: 4.4yrs
    • Compensation: €77.00k
  • Mauro Melis

    Independent Director

    • Tenure: 3.5yrs
  • Patrizia Canziani

    Independent Director

    • Tenure: 3.5yrs
  • Raffaella Pallavicini (50yo)

    Director

    • Tenure: 3.5yrs
  • Sonia Peron

    Chairman of the Board of Statutory Auditors

    • Tenure: 1.6yrs

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: €181.205m
  • 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 Analysis2019/11/13 20:46
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
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.