BIT:ITM

Stock Analysis Report

Executive Summary

Italmobiliare S.p.A., an investment holding company, operates in the industrial and financial sectors in Italy and internationally.

Snowflake

Fundamentals

Flawless balance sheet with reasonable growth potential.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

2.0%

ITM

0.5%

IT Industrials

0.5%

IT Market


1 Year Return

29.3%

ITM

3.8%

IT Industrials

11.6%

IT Market

Return vs Industry: ITM exceeded the Italian Industrials industry which returned 3.8% over the past year.

Return vs Market: ITM exceeded the Italian Market which returned 11.6% over the past year.


Shareholder returns

ITMIndustryMarket
7 Day2.0%0.5%0.5%
30 Day12.1%0.5%0.07%
90 Day13.7%0.03%1.2%
1 Year33.0%29.3%7.4%3.8%16.5%11.6%
3 Year10.8%3.1%12.1%2.1%25.2%8.0%
5 Year162.6%139.4%52.0%28.8%21.1%-26.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Italmobiliare undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ITM (€23.2) is trading below our estimate of fair value (€64.64)

Significantly Below Fair Value: ITM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ITM is poor value based on its PE Ratio (39.8x) compared to the Industrials industry average (23.2x).

PE vs Market: ITM is poor value based on its PE Ratio (39.8x) compared to the Italian market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: ITM is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: ITM is good value based on its PB Ratio (0.7x) compared to the XE Industrials industry average (1x).


Next Steps

Future Growth

How is Italmobiliare forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

23.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ITM's forecast earnings growth (23.5% per year) is above the savings rate (2.9%).

Earnings vs Market: ITM's earnings (23.5% per year) are forecast to grow faster than the Italian market (8.6% per year).

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

Revenue vs Market: ITM's revenue (3.8% per year) is forecast to grow faster than the Italian market (3% per year).

High Growth Revenue: ITM's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ITM's Return on Equity is forecast to be low in 3 years time (3.1%).


Next Steps

Past Performance

How has Italmobiliare performed over the past 5 years?

48.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ITM's earnings have grown significantly by 48.3% per year over the past 5 years.

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

Earnings vs Industry: ITM had negative earnings growth (-81.9%) over the past year, making it difficult to compare to the Industrials industry average (-6.7%).


Return on Equity

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


Return on Assets

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


Return on Capital Employed

ROCE Improving: ITM has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Italmobiliare's financial position?


Financial Position Analysis

Short Term Liabilities: ITM's short term assets (€666.3M) exceeds its short term liabilities (€209.0M)

Long Term Liabilities: ITM's short term assets (666.3M) exceeds its long term liabilities (292.0M)


Debt to Equity History and Analysis

Debt Level: ITM's debt to equity ratio (13.9%) is considered satisfactory

Reducing Debt: ITM's debt to equity ratio has reduced from 81% to 13.9% over the past 5 years.

Debt Coverage: ITM's debt is well covered by operating cash flow (37.3%).

Interest Coverage: ITM's interest payments on its debt are well covered by EBIT (29.6x coverage).


Balance Sheet

Inventory Level: ITM has a low level of unsold assets or inventory.

Debt Coverage by Assets: ITM's debt is covered by short term assets (assets are 3.380140x debt).


Next Steps

Dividend

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

2.37%

Current Dividend Yield


Dividend Yield vs Market

company2.4%marketbottom25%2.1%markettop25%4.4%industryaverage3.4%forecastin3Years2.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ITM's dividend (2.37%) is higher than the bottom 25% of dividend payers in the Italian market (2.08%).

High Dividend: ITM's dividend (2.37%) is low compared to the top 25% of dividend payers in the Italian market (4.41%).

Stable Dividend: ITM's dividend payments have been volatile in the past 10 years.

Growing Dividend: ITM's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (94.3%), ITM's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ITM's dividends in 3 years are forecast to be covered by earnings (61.6% payout ratio).


Next Steps

Management

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

8.4yrs

Average board tenure


CEO

Carlo Pesenti (56yo)

5.4yrs

Tenure

€3,691,019

Compensation

Mr. Carlo Pesenti has been the Chief Operating Officer at Italmobiliare SpA since May 2001 and Chief Executive Officer since May 2014. He was an Executive Director of Italmobiliare SPA since June 17, 1999. ...


CEO Compensation Analysis

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

Compensation vs Earnings: Carlo's compensation has been consistent with company performance over the past year.


Board Age and Tenure

8.4yrs

Average Tenure

54.5yo

Average Age

Experienced Board: ITM's board of directors are considered experienced (8.4 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


Management Team

  • Carlo Pesenti (56yo)

    CEO, COO & Executive Director

    • Tenure: 5.4yrs
    • Compensation: €3.69m
  • Silvestro Capitanio (75yo)

    Head of Human Resources & Organizational Development

    • Tenure: 0yrs
  • Enrico Benaglio

    Head of Investments Department & Investor Relations

    • Tenure: 0yrs
  • Delia Strazzarino

    Head of Internal Audit

    • Tenure: 0yrs
  • Mauro Torri

    Manager of Financial Reporting

    • Tenure: 2.3yrs

Board Members

  • Carlo Pesenti (56yo)

    CEO, COO & Executive Director

    • Tenure: 5.4yrs
    • Compensation: €3.69m
  • Livio Strazzera (58yo)

    Deputy Chairman

    • Tenure: 2.5yrs
    • Compensation: €55.33k
  • Luca Minoli (58yo)

    Non Executive Director

    • Tenure: 17.4yrs
    • Compensation: €109.42k
  • Giorgio Bonomi (64yo)

    Non Executive Director

    • Tenure: 17.4yrs
    • Compensation: €66.00k
  • Paolo Sfameni (54yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: €52.50k
  • Clemente Rebecchini (55yo)

    Independent Non Executive Director

    • Tenure: 8.4yrs
    • Compensation: €36.00k
  • Sebastiano Mazzoleni (51yo)

    Non Executive Director

    • Tenure: 8.4yrs
    • Compensation: €36.00k
  • Francesco Di Carlo (50yo)

    Chairman of Board of Statutory Auditors

    • Tenure: 0yrs
    • Compensation: €75.00k
  • Laura Zanetti (49yo)

    Independent Chairwoman of the Board

    • Tenure: 2.5yrs
    • Compensation: €184.33k
  • Vittorio Bertazzoni (43yo)

    Independent Director

    • Tenure: 2.5yrs
    • Compensation: €30.00k

Company Information

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


Key Information

  • Name: Italmobiliare S.p.A.
  • Ticker: ITM
  • Exchange: BIT
  • Founded: 1946
  • Industry: Industrial Conglomerates
  • Sector: Capital Goods
  • Market Cap: €973.192m
  • Shares outstanding: 41.95m
  • Website: https://www.italmobiliare.it

Number of Employees


Location

  • Italmobiliare S.p.A.
  • Via Borgonuovo, 20
  • Milan
  • Milan
  • 20121
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ITMBIT (Borsa Italiana)YesOrdinary SharesITEURJan 1992
0RP4LSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ITM1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992

Biography

Italmobiliare S.p.A., an investment holding company, operates in the industrial and financial sectors in Italy and internationally. The company develops and produces fresh food packaging products, such as  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 20:42
End of Day Share Price2019/10/21 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.