Fincantieri
Market Cap
€1.5b
Last Updated
2020/01/20 22:11 UTC
Data Sources
Company Financials +
Executive Summary
Fincantieri S.p.A. operates in the shipbuilding industry.
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential with acceptable track record.
Share Price & News
How has Fincantieri's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FCT has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.1%
FCT
2.0%
IT Machinery
0.6%
IT Market
1 Year Return
-9.4%
FCT
-1.6%
IT Machinery
16.9%
IT Market
Return vs Industry: FCT underperformed the Italian Machinery industry which returned -0.6% over the past year.
Return vs Market: FCT underperformed the Italian Market which returned 18.6% over the past year.
Shareholder returns
| FCT | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.1% | 2.0% | 0.6% |
| 30 Day | -0.3% | 2.2% | 0.1% |
| 90 Day | -5.2% | 6.7% | 6.1% |
| 1 Year | -8.5%-9.4% | 0.2%-1.6% | 22.1%16.9% |
| 3 Year | 67.1%64.2% | 28.1%22.7% | 27.0%8.8% |
| 5 Year | 27.4%25.2% | 59.1%48.9% | 23.4%-18.1% |
Price Volatility Vs. Market
How volatile is Fincantieri's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 days ago | Simply Wall St
Evaluating Fincantieri S.p.A.’s (BIT:FCT) Investments In Its Business2 weeks ago | Simply Wall St
At €0.92, Is Fincantieri S.p.A. (BIT:FCT) Worth Looking At Closely?1 month ago | Simply Wall St
What Does Fincantieri S.p.A.'s (BIT:FCT) P/E Ratio Tell You?Valuation
Is Fincantieri undervalued compared to its fair value and its price relative to the market?
22.72x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: FCT (€0.91) is trading above our estimate of fair value (€0.75)
Significantly Below Fair Value: FCT is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: FCT is poor value based on its PE Ratio (22.9x) compared to the Machinery industry average (17.5x).
PE vs Market: FCT is poor value based on its PE Ratio (22.9x) compared to the Italian market (18.7x).
Price to Earnings Growth Ratio
PEG Ratio: FCT is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: FCT is good value based on its PB Ratio (1.3x) compared to the IT Machinery industry average (1.9x).
Next Steps
Future Growth
How is Fincantieri forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
48.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FCT's forecast earnings growth (48.8% per year) is above the savings rate (1.2%).
Earnings vs Market: FCT's earnings (48.8% per year) are forecast to grow faster than the Italian market (8.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FCT's revenue (6.9% per year) is forecast to grow faster than the Italian market (3.8% per year).
High Growth Revenue: FCT's revenue (6.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FCT's Return on Equity is forecast to be low in 3 years time (14.4%).
Next Steps
Past Performance
How has Fincantieri performed over the past 5 years?
21.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FCT has high quality earnings.
Growing Profit Margin: FCT's current net profit margins (1.2%) are lower than last year (1.3%).
Past Earnings Growth Analysis
Earnings Trend: FCT's earnings have grown significantly by 21.4% per year over the past 5 years.
Accelerating Growth: FCT's earnings growth over the past year (2.7%) is below its 5-year average (21.4% per year).
Earnings vs Industry: FCT earnings growth over the past year (2.7%) exceeded the Machinery industry -7.6%.
Return on Equity
High ROE: FCT's Return on Equity (5.3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Fincantieri's financial position?
Financial Position Analysis
Short Term Liabilities: FCT's short term assets (€4.8B) exceed its short term liabilities (€4.7B).
Long Term Liabilities: FCT's short term assets (€4.8B) exceed its long term liabilities (€1.1B).
Debt to Equity History and Analysis
Debt Level: FCT's debt to equity ratio (187.4%) is considered high.
Reducing Debt: FCT's debt to equity ratio has increased from 111.7% to 187.4% over the past 5 years.
Debt Coverage: FCT's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: FCT's interest payments on its debt are well covered by EBIT (3.5x coverage).
Balance Sheet
Inventory Level: FCT has a high level of physical assets or inventory.
Debt Coverage by Assets: FCT's debt is covered by short term assets (assets are 2.1x debt).
Next Steps
Dividend
What is Fincantieri's current dividend yield, its reliability and sustainability?
1.10%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: FCT's dividend (1.1%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.97%).
High Dividend: FCT's dividend (1.1%) is low compared to the top 25% of dividend payers in the Italian market (4.19%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, FCT has been paying a dividend for less than 10 years.
Growing Dividend: FCT has only been paying a dividend for 2 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (25.1%), FCT's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FCT's dividends in 3 years are forecast to be thoroughly covered by earnings (10.3% payout ratio).
Next Steps
Management
What is the CEO of Fincantieri's salary, the management and board of directors tenure and is there insider trading?
4.6yrs
Average management tenure
CEO
Giuseppe Bono (75yo)
7.8yrs
Tenure
€1,187,104
Compensation
Dr. Giuseppe Bono has been the Chief Executive Officer of Fincantieri S.p.A. since March 29, 2012. He served as Interim Executive Vice President of Naval Vessels Division at Fincantieri S.p.A. since 2019 u ...
CEO Compensation Analysis
Compensation vs Market: Giuseppe's total compensation ($USD0.00) is below average for companies of similar size in the Italian market ($USD1.05M).
Compensation vs Earnings: Giuseppe's compensation has increased by more than 20% in the past year.
Management Age and Tenure
4.6yrs
Average Tenure
65yo
Average Age
Experienced Management: FCT's management team is considered experienced (4.6 years average tenure).
Board Age and Tenure
2.2yrs
Average Tenure
55.5yo
Average Age
Experienced Board: FCT's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.
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
Giuseppe Bono (75yo)
CEO & Director
- Tenure: 7.8yrs
- Compensation: €1.19m
Umberto Baldi
Secretary
Stefano Dentilli
Head of Internal Auditing & Risk Officer
Giuseppe Coronella
Executive Vice President of Offshore Business Unit
Pier Ragni (48yo)
Executive Vice President of Offshore & Specialized Vessels Division
- Tenure: 1yrs
Giampiero Massolo (65yo)
Chairman
Giuseppe Dado
Chief Financial Officer
Luigi Matarazzo (54yo)
Executive Vice President of Merchant Ships Division
- Tenure: 1.3yrs
Giorgio Rizzo (69yo)
Executive Vice President of Services Division
- Tenure: 11yrs
Felice Bonavolontà
Group Accounting & Administration Head
Board Members
Elisabetta Oliveri (56yo)
Independent Director
- Tenure: 0.8yrs
Giuseppe Bono (75yo)
CEO & Director
- Tenure: 7.8yrs
- Compensation: €1.19m
Fabrizio Palermo (48yo)
Director
- Tenure: 3.7yrs
Paola Muratorio (70yo)
Independent Director
- Tenure: 3.7yrs
Massimiliano Cesare (52yo)
Independent Director
- Tenure: 5.5yrs
- Compensation: €77.00k
Gianluca Ferrero (56yo)
Chairman of Board of Statutory Auditors
- Tenure: 5.7yrs
- Compensation: €22.10k
Giampiero Massolo (65yo)
Chairman
Federica Seganti (53yo)
Independent Director
- Tenure: 0.8yrs
Barbara Alemanni (55yo)
Independent Director
- Tenure: 0.8yrs
Luca Errico (53yo)
Independent Director
- Tenure: 0.8yrs
Company Information
Fincantieri S.p.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Fincantieri S.p.A.
- Ticker: FCT
- Exchange: BIT
- Founded: 1959
- Industry: Construction Machinery and Heavy Trucks
- Sector: Capital Goods
- Market Cap: €1.536b
- Shares outstanding: 1.69b
- Website: https://www.fincantieri.com
Number of Employees
Location
- Fincantieri S.p.A.
- Via Genova No. 1
- Trieste
- Trieste
- 34121
- Italy
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FCT | BIT (Borsa Italiana) | Yes | Ordinary Shares | IT | EUR | Jul 2014 |
| FCTM | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jul 2014 |
| 1F8 | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jul 2014 |
| 0QWN | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jul 2014 |
Biography
Fincantieri S.p.A. operates in the shipbuilding industry. The company operates in three segments: Shipbuilding; Offshore; and Equipment, Systems and Services. The Shipbuilding segment designs and constructs cruise ships; ferries, including cruise, Ro-Pax, and due fuel ferries; naval vessels, such as aircraft carriers, submarines, destroyers, frigates, corvettes, patrol vessels, amphibious and logistic support ships, multirole and research vessels, special vessels, and submarines; and mega yachts. The Offshore segment designs and constructs offshore support vessels, expedition cruise vessels, specialized ships, and vessels for offshore wind farms and open ocean aquaculture, as well as other products in the field of drill ships and semi-submersible drilling rigs. This segment also provides electrical systems, including engineering, manufacturing, installation, integration testing, and commissioning services. The Equipment, Systems and Services segment provides stabilization, propulsion, and positioning and power generation systems; ship automation systems, steam turbines, and ship accommodation systems; diesel engines, entertainment systems, and steel structures; cabins and public areas; and electric, electronic, and electromechanical integrated systems. This segment also offers ship repairs, refitting, refurbishment, conversions, and product lifecycle management services, as well as after-sales support services. In addition, the company is involved in the dry-dock management; project management; accommodation installation; and pipe installation. Further, the company provides electrical parts, technical and logistics engineering services, and ship interiors; offers charters boats and barges; and builds aluminum ships. Fincantieri S.p.A. primarily serves ship owners and the defense sector worldwide. The company was founded in 1959 and is headquartered in Trieste, Italy. Fincantieri S.p.A. is a subsidiary of Fintecna S.p.A.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/20 22:11 |
| End of Day Share Price | 2020/01/20 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.