BIT:AVIO

Stock Analysis Report

Executive Summary

Avio S.p.A., through its subsidiaries, engages in the solid, liquid, and cryogenic and tactical propulsion activities in Italy.

Snowflake

Fundamentals

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.6%

BIT:AVIO

0.9%

IT Aerospace & Defense

0.8%

IT Market


1 Year Return

-10.0%

BIT:AVIO

5.4%

IT Aerospace & Defense

-3.4%

IT Market

AVIO underperformed the Aerospace & Defense industry which returned 6.3% over the past year.

AVIO underperformed the Market in Italy which returned -1.8% over the past year.


Share holder returns

AVIOIndustryMarket
7 Day-1.6%0.9%0.8%
30 Day-3.2%-3.2%-6.1%
90 Day-4.9%7.6%-0.9%
1 Year-6.8%-10.0%7.6%5.4%0.8%-3.4%
3 Year918.6%21.0%81.7%70.1%19.8%3.3%
5 Yearn/a127.3%99.7%7.7%-34.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

13.1x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Avio's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Avio's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Avio is good value based on earnings compared to the Europe Aerospace & Defense industry average.

Avio is good value based on earnings compared to the Italy market.


Price Based on Expected Growth

Avio is poor value based on expected growth next year.


Price Based on Value of Assets

Avio is good value based on assets compared to the Europe Aerospace & Defense industry average.


Next Steps

Future Growth

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

8.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Avio's revenue is expected to grow by 2.5% yearly, however this is not considered high growth (20% yearly).

Avio's earnings are expected to grow by 8.4% yearly, however this is not considered high growth (20% yearly).

Avio's revenue growth is positive but not above the Italy market average.

Avio's earnings growth is expected to exceed the Italy market average.

Avio's earnings growth is expected to exceed the low risk savings rate of 2.9%.


Earnings per Share Growth Estimates


Future Return on Equity

Avio is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Avio performed over the past 5 years?

25.5%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Insufficient data to establish if Avio's year on year earnings growth rate was positive over the past 5 years.

Unable to compare Avio's 1-year earnings growth to the 5-year average due to insufficient past data.

Avio's earnings growth has exceeded the Europe Aerospace & Defense industry average in the past year (25.5% vs 12.8%).


Return on Equity

Avio has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Avio used its assets less efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.


Return on Capital Employed

Avio has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).


Next Steps

Financial Health

How is Avio's financial position?


Financial Position Analysis

Avio is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Avio's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Avio's level of debt (20%) compared to net worth is satisfactory (less than 40%).

Unable to establish if Avio's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (70.7%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 109x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 6.8x debt.


Next Steps

Dividend

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

3.98%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Avio's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (2.09%).

Avio's dividend is below the markets top 25% of dividend payers in Italy (4.5%).

It is too early to tell whether Avio has stable dividend payments.

Avio only just started paying a dividend, it is too early to tell if payments are increasing.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).


Next Steps

Management

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


CEO

Giulio Ranzo 0

0.0yrs

Tenure

0

Dr. Giulio Ranzo, Ph.D. has been the Chief Executive Officer at Avio S.p.A. since October 2, 2015. Dr. Ranzo served as a General Manager at Avio S.p.A. since October 2, 2015. Dr. Ranzo served as a Director ...


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Buy€108,59815 Apr 19
In Orbit
EntityCompany
Shares8,821
Max Price€12.54
Buy€288,26511 Apr 19
In Orbit
EntityCompany
Shares23,000
Max Price€12.61

Ownership Breakdown


Management Team

  • Giulio Ranzo

    CEO, GM & Director

    • Tenure: 0.0yrs

Board Members

  • Roberto Italia (53yo)

    Chairman of the Board

    • Tenure: 0.0yrs
  • Vittorio Rabajoli (59yo)

    Director

    • Tenure: 0.0yrs
  • Luigi Pasquali (62yo)

    Director

    • Tenure: 0.0yrs
  • Maria Bonifacio

    Independent Director

    • Tenure: 0.0yrs
  • Donatella Sciuto (57yo)

    Independent Director

    • Tenure: 0.0yrs
  • Giulio Ranzo

    CEO, GM & Director

    • Tenure: 0.0yrs
  • Stefano Ratti

    Director

    • Tenure: 0.0yrs
  • Monica Auteri

    Independent Director

    • Tenure: 0.0yrs
  • Riccardo Bauer

    Chairman of Board of Statutory Auditors

    • Tenure: 0.0yrs
  • Giovanni Tempini

    Independent Director

    • Tenure: 0.0yrs

Company Information

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


Key Information

  • Name: Avio S.p.A.
  • Ticker: AVIO
  • Exchange: BIT
  • Founded: 1984
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: €318.948m
  • Shares outstanding: 26.36m
  • Website: https://www.avio.com

Number of Employees


Location

  • Avio S.p.A.
  • via Leonida Bissolati No. 76
  • Rome
  • Rome
  • 187
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AVIOBIT (Borsa Italiana)YesOrdinary SharesITEURJul 2015
0R9SLSE (London Stock Exchange)YesOrdinary SharesGBEURJul 2015
2ZPDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2015

Biography

Avio S.p.A., through its subsidiaries, engages in the solid, liquid, and cryogenic and tactical propulsion activities in Italy. The company offers space launchers under the VEGA and ARIANE names. It also p ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/23 22:29
End of Day Share Price2019/08/23 00:00
Earnings2018/12/31
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.