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AV

Antares Vision BIT:AV Stock Report

Last Price

€7.30

Market Cap

€504.3m

7D

-2.7%

1Y

-29.1%

Updated

05 Oct, 2022

Data

Company Financials +
AV fundamental analysis
Snowflake Score
Valuation1/6
Future Growth4/6
Past Performance3/6
Financial Health4/6
Dividends0/6

AV Stock Overview

Antares Vision S.p.A. provides track and trace, and inspection systems for the security and traceability of the products.

Antares Vision Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Antares Vision
Historical stock prices
Current Share Price€7.30
52 Week High€12.95
52 Week Low€6.80
Beta0.85
1 Month Change-20.13%
3 Month Change-14.62%
1 Year Change-29.13%
3 Year Change-25.80%
5 Year Changen/a
Change since IPO-39.11%

Recent News & Updates

Sep 15
Antares Vision S.p.A. (BIT:AV) Looks Just Right

Antares Vision S.p.A. (BIT:AV) Looks Just Right

With a price-to-earnings (or "P/E") ratio of 43.8x Antares Vision S.p.A. ( BIT:AV ) may be sending very bearish signals...

Aug 31
Is There Now An Opportunity In Antares Vision S.p.A. (BIT:AV)?

Is There Now An Opportunity In Antares Vision S.p.A. (BIT:AV)?

Antares Vision S.p.A. ( BIT:AV ), might not be a large cap stock, but it saw a double-digit share price rise of over...

Shareholder Returns

AVIT MachineryIT Market
7D-2.7%2.7%2.4%
1Y-29.1%-33.1%-19.8%

Return vs Industry: AV exceeded the Italian Machinery industry which returned -33.3% over the past year.

Return vs Market: AV underperformed the Italian Market which returned -19.5% over the past year.

Price Volatility

Is AV's price volatile compared to industry and market?
AV volatility
AV Average Weekly Movement5.4%
Machinery Industry Average Movement5.7%
Market Average Movement4.9%
10% most volatile stocks in IT Market6.8%
10% least volatile stocks in IT Market2.9%

Stable Share Price: AV is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 5% a week.

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

About the Company

FoundedEmployeesCEOWebsite
20071,089Emidio Zorzellahttps://www.antaresvision.com

Antares Vision S.p.A. provides track and trace, and inspection systems for the security and traceability of the products. It offers track and trace products, including serialization modules, aggregation systems, software suites, verification and decommissioning solutions, logistics and warehouse tracking system, and bottle tracking technology for food, cosmetics, medical, pharmaceutical, and beverage sectors. The company also provides beverage inspection solutions, including glass inspection system, cap level control system, bottle orientation system, bottle visual rotating system, and printing control system; food inspection solutions comprising contamination detection system and container inspection system; cosmetic inspection solutions; inspection solutions for medical devices; pharmaceutical inspection machines, such as tablets and capsules inspector, parenteral visual rotating inspections system, raised stopper inspection system, and LYO-check system; and turnkey inspection solutions for beverage from FT system.

Antares Vision Fundamentals Summary

How do Antares Vision's earnings and revenue compare to its market cap?
AV fundamental statistics
Market Cap€504.32m
Earnings (TTM)€13.26m
Revenue (TTM)€189.46m

38.0x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AV income statement (TTM)
Revenue€189.46m
Cost of Revenue€35.67m
Gross Profit€153.79m
Other Expenses€140.53m
Earnings€13.26m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.19
Gross Margin81.17%
Net Profit Margin7.00%
Debt/Equity Ratio46.7%

How did AV perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is AV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AV?

Other financial metrics that can be useful for relative valuation.

AV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.9x
Enterprise Value/EBITDA25.9x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

How does AV's PE Ratio compare to its peers?

AV PE Ratio vs Peers
The above table shows the PE ratio for AV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.1x
PVN Piovan
13.9xn/a€396.1m
GVS GVS
19.8x5.9%€1.0b
BSS Biesse
13x15.6%€326.1m
DAN Danieli & C. Officine Meccaniche
5.8x-1.3%€1.1b
AV Antares Vision
38x35.2%€504.3m

Price-To-Earnings vs Peers: AV is expensive based on its Price-To-Earnings Ratio (38x) compared to the peer average (13.1x).


Price to Earnings Ratio vs Industry

How does AV's PE Ratio compare vs other companies in the IT Machinery Industry?

Price-To-Earnings vs Industry: AV is expensive based on its Price-To-Earnings Ratio (38x) compared to the Italian Machinery industry average (11.3x)


Price to Earnings Ratio vs Fair Ratio

What is AV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio38x
Fair PE Ratio33.2x

Price-To-Earnings vs Fair Ratio: AV is expensive based on its Price-To-Earnings Ratio (38x) compared to the estimated Fair Price-To-Earnings Ratio (33.2x).


Share Price vs Fair Value

What is the Fair Price of AV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AV (€7.3) is trading above our estimate of fair value (€5.75)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Antares Vision forecast to perform in the next 1 to 3 years based on estimates from 3 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


35.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AV's forecast earnings growth (35.2% per year) is above the savings rate (1.7%).

Earnings vs Market: AV's earnings (35.2% per year) are forecast to grow faster than the Italian market (8.1% per year).

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

Revenue vs Market: AV's revenue (12% per year) is forecast to grow faster than the Italian market (-0.6% per year).

High Growth Revenue: AV's revenue (12% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AV's Return on Equity is forecast to be low in 3 years time (12%).


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Past Performance

How has Antares Vision 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


-10.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AV has high quality earnings.

Growing Profit Margin: AV's current net profit margins (7%) are lower than last year (7.8%).


Past Earnings Growth Analysis

Earnings Trend: AV's earnings have declined by 10.1% per year over the past 5 years.

Accelerating Growth: AV's earnings growth over the past year (22.7%) exceeds its 5-year average (-10.1% per year).

Earnings vs Industry: AV earnings growth over the past year (22.7%) exceeded the Machinery industry 15.5%.


Return on Equity

High ROE: AV's Return on Equity (4.6%) is considered low.


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Financial Health

How is Antares Vision'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: AV's short term assets (€240.1M) exceed its short term liabilities (€91.1M).

Long Term Liabilities: AV's short term assets (€240.1M) exceed its long term liabilities (€170.3M).


Debt to Equity History and Analysis

Debt Level: AV's net debt to equity ratio (12.4%) is considered satisfactory.

Reducing Debt: AV's debt to equity ratio has increased from 19.8% to 46.7% over the past 5 years.

Debt Coverage: AV's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: AV's interest payments on its debt are well covered by EBIT (64.5x coverage).


Balance Sheet


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Dividend

What is Antares Vision current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.89%

Forecast Dividend Yield

Dividend Yield vs Market

Antares Vision Dividend Yield vs Market
How does Antares Vision dividend yield compare to the market?
SegmentDividend Yield
Company (Antares Vision)n/a
Market Bottom 25% (IT)1.8%
Market Top 25% (IT)5.6%
Industry Average (Machinery)1.4%
Analyst forecast in 3 Years (Antares Vision)0.9%

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

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


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as AV has not reported any payouts.


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Management

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

€390k

CEO Compensation


CEO

Emidio Zorzella (51 yo)

no data

Tenure

€390,000

Compensation

Mr. Emidio Zorzella is the Co-Founder of Antares Vision S.p.A. in 2007 and serves as its Co- Chief Executive Officer and Managing Director. He serves as Chairman of the Board at Antares Vision S.p.A.


CEO Compensation Analysis

Emidio Zorzella's Compensation vs Antares Vision Earnings
How has Emidio Zorzella's remuneration changed compared to Antares Vision's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

€13m

Mar 31 2022n/an/a

€13m

Dec 31 2021n/an/a

€12m

Sep 30 2021n/an/a

€12m

Jun 30 2021n/an/a

€11m

Mar 31 2021n/an/a

€14m

Dec 31 2020€390k€390k

€18m

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

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


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

What is the ownership structure of AV?
Owner TypeNumber of SharesOwnership Percentage
General Public10,730,54615.5%
Institutions16,766,42524.3%
Private Companies41,588,63960.2%

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


Top Shareholders

Top 25 shareholders own 83.87% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
50.72%
Regolo S.r.l.
35,043,111€255.8m0%no data
9.47%
Sargas S.r.l.
6,545,528€47.8m0%no data
8.01%
Capital Research and Management Company
5,536,397€40.4m0%no data
4.33%
Invesco Ltd.
2,992,834€21.8m0%0.01%
2.25%
SEB Investment Management AB
1,551,653€11.3m-2.71%0.03%
1.24%
Oddo Bhf Asset Management SAS
854,970€6.2m0%0.11%
1.14%
Mediolanum Gestione Fondi SGR p.A.
786,454€5.7m0%0.29%
1.09%
Janus Henderson Group plc
751,999€5.5m-40.22%no data
1.03%
Norges Bank Investment Management
709,434€5.2m0%no data
0.61%
Skandinaviska Enskilda Banken AB, Private Banking, Investment Banking, and Insurance Arm
424,457€3.1m0.78%0.06%
0.58%
Didner & Gerge Fonder
400,000€2.9m0%0.06%
0.45%
BlackRock, Inc.
313,573€2.3m-1.44%no data
0.38%
Azimut Capital Management Sgr SpA
259,800€1.9m-7.21%0.04%
0.37%
Mediobanca SGR S.p.A.
255,738€1.9m0%0.42%
0.34%
Lazard Asset Management LLC
233,806€1.7m0%no data
0.32%
Fideuram Investimenti SGR S.p.A.
219,054€1.6m0%0.07%
0.3%
AXA Investment Managers S.A.
210,000€1.5m0%no data
0.29%
Lombard Odier Asset Management (Switzerland) SA
203,691€1.5m-5.26%0.03%
0.27%
Kairòs Partners SGR SpA
188,612€1.4m-37.82%0.41%
0.16%
Amundi Asset Management
109,167€796.9k13.7%no data
0.13%
Nordea Investment Management AB
92,900€678.2k40.12%no data
0.13%
Mediolanum Asset Management Limited
89,584€654.0k0%no data
0.1%
AMF Fonder AB
70,000€511.0k0%no data
0.081%
GSB Podium Advisors, LLC
56,056€409.2k0%2.7%
0.066%
River and Mercantile Asset Management LLP
45,287€330.6k0%0.02%

Company Information

Antares Vision S.p.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Antares Vision S.p.A.
  • Ticker: AV
  • Exchange: BIT
  • Founded: 2007
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Implied Market Cap: €504.325m
  • Shares outstanding: 69.09m
  • Website: https://www.antaresvision.com

Number of Employees


Location

  • Antares Vision S.p.A.
  • Via Del Ferro, 16
  • Travagliato
  • Brescia
  • 25039
  • Italy


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AVBIT (Borsa Italiana)YesOrdinary SharesITEURApr 2019
2YKDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2019
2YKBST (Boerse-Stuttgart)YesOrdinary SharesDEEURApr 2019

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
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.