BIT:MT

Stock Analysis Report

Executive Summary

Maire Tecnimont S.p.A. provides engineering services in Italy and internationally.

Snowflake

Fundamentals

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

5.2%

MT

0.5%

IT Construction

1.4%

IT Market


1 Year Return

-37.5%

MT

-19.2%

IT Construction

9.9%

IT Market

Return vs Industry: MT underperformed the Italian Construction industry which returned -19.2% over the past year.

Return vs Market: MT underperformed the Italian Market which returned 9.9% over the past year.


Shareholder returns

MTIndustryMarket
7 Day5.2%0.5%1.4%
30 Day-2.5%-4.7%-0.8%
90 Day-9.3%0.07%-1.5%
1 Year-35.1%-37.5%-17.4%-19.2%14.7%9.9%
3 Year18.1%7.6%27.6%15.9%30.7%12.6%
5 Year57.3%40.7%70.3%37.8%25.6%-24.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

14.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: MT (€2.33) is trading below our estimate of fair value (€2.73)

Significantly Undervalued: MT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MT is good value based on its PE Ratio (7.2x) compared to the Construction industry average (11.1x).

PE vs Market: MT is good value based on its PE Ratio (7.2x) compared to the Italian market (17x).


Price to Earnings Growth Ratio

Low PEG Ratio: MT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: MT is overvalued based on its PB Ratio (2.2x) compared to the IT Construction industry average (1.8x).


Next Steps

Future Growth

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

-0.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MT's earnings are forecast to decline over the next 3 years (-0.5% per year).

Earnings vs Market: MT's earnings are forecast to decline over the next 3 years (-0.5% per year).

High Growth Earnings: MT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: MT's revenue is expected to decline over the next 3 years (-0.3% per year).

High Growth Revenue: MT's revenue is forecast to decline over the next 3 years (-0.3%).


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: MT's Return on Equity is forecast to be high in 3 years time (24.1%)


Next Steps

Past Performance

How has Maire Tecnimont performed over the past 5 years?

24.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MT's earnings have grown significantly by 24.7% per year over the past 5 years.

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

Earnings vs Industry: MT had negative earnings growth (-5.6%) over the past year, making it difficult to compare to the Construction industry average (8.1%).


Return on Equity

High ROE: Whilst MT's Return on Equity (28.07%) is high, this metric is skewed due to their high level of debt.


Return on Assets

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


Return on Capital Employed

ROCE Improving: MT's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Maire Tecnimont's financial position?


Financial Position Analysis

Short Term Liabilities: MT's short term assets (€3.5B) exceeds its short term liabilities (€3.1B)

Long Term Liabilities: MT's short term assets (3.5B) exceeds its long term liabilities (775.0M)


Debt to Equity History and Analysis

Debt Level: MT's debt to equity ratio (183%) is considered high

Reducing Debt: MT's debt to equity ratio has reduced from 912.5% to 183% over the past 5 years.

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

Interest Coverage: MT's interest payments on its debt are well covered by EBIT (5.9x coverage).


Balance Sheet

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

Debt Coverage by Assets: MT's debt is covered by short term assets (assets are 4.900540x debt).


Next Steps

Dividend

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

5.10%

Current Dividend Yield


Dividend Yield vs Market

company5.1%marketbottom25%2.1%markettop25%4.4%industryaverage3.5%forecastin3Years5.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MT's dividend (5.1%) is higher than the bottom 25% of dividend payers in the Italian market (2.08%).

High Dividend: MT's dividend (5.1%) is in the top 25% of dividend payers in the Italian market (4.43%)

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

Growing Dividend: MT's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36.9%), MT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MT's dividends in 3 years are forecast to be well covered by earnings (34.4% payout ratio).


Next Steps

Management

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

6.3yrs

Average management tenure


CEO

Pierroberto Folgiero (47yo)

6.4yrs

Tenure

€2,184,724

Compensation

Mr. Pierroberto Folgiero serves as the Managing Director at Tecnimont KT S.p.A. since June 2011 and Tecnimont S.p.A. since May 2012. Mr. Folgiero has been the Chief Executive Officer of Maire Tecnimont S.p ...


CEO Compensation Analysis

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

Compensation vs Earnings: Pierroberto's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

6.3yrs

Average Tenure

53yo

Average Age

Experienced Management: MT's management team is seasoned and experienced (6.3 years average tenure).


Board Age and Tenure

6.1yrs

Average Tenure

55.5yo

Average Age

Experienced Board: MT's board of directors are considered experienced (6.1 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

  • Alessandro Bernini (59yo)

    Group Chief Financial Officer

    • Tenure: 6yrs
  • Franco Ghiringhelli (53yo)

    Senior VP of Human Resources

    • Tenure: 13.9yrs
  • Fabrizio Di Amato (56yo)

    Executive Chairman

    • Tenure: 0yrs
    • Compensation: €1.52m
  • Gianni Bardazzi (54yo)

    Senior VP of Group Special Initiatives & Region Coordination and VP of Russia & Caspian Region

    • Tenure: 6.9yrs
    • Compensation: €253.81k
  • Pierroberto Folgiero (47yo)

    CEO, COO

    • Tenure: 6.4yrs
    • Compensation: €2.18m
  • Pejman Djavdan (55yo)

    Technology President

    • Tenure: 0yrs
  • Carlo Nicolais (46yo)

    Head of Institutional Relations & Communication

    • Tenure: 2.1yrs
  • Fabio Fagioli (43yo)

    Group General Counsel

    • Tenure: 6.3yrs
  • Simona Dolce (51yo)

    Head of Group Corporate Affairs

    • Tenure: 0yrs
  • Riccardo Guglielmetti

    Head of Investor Relations

    • Tenure: 6.3yrs

Board Members

  • Andrea Giovanni Pellegrini (55yo)

    Independent & Non-Executive Director

    • Tenure: 5.3yrs
    • Compensation: €57.00k
  • Mario Ruzza (65yo)

    Chairman & MD of Tecnimont Private Limited

    • Tenure: 0yrs
  • Fabrizio Di Amato (56yo)

    Executive Chairman

    • Tenure: 0yrs
    • Compensation: €1.52m
  • Stefano Fiorini (57yo)

    Non-Executive Director

    • Tenure: 0yrs
  • Francesco Fallacara (55yo)

    Chairman of Board of Statutory Auditors

    • Tenure: 0yrs
  • Pierroberto Folgiero (47yo)

    CEO, COO

    • Tenure: 6.4yrs
    • Compensation: €2.18m
  • Gabriella Chersicla (57yo)

    Lead Independent Director

    • Tenure: 6.1yrs
    • Compensation: €47.00k
  • Giustiniani Vittoria (55yo)

    Independent & Non-Executive Director

    • Tenure: 0yrs
    • Compensation: €40.00k
  • Patrizia Riva (49yo)

    Independent & Non-Executive Director

    • Tenure: 0yrs
    • Compensation: €32.00k
  • Luigi Alfieri (67yo)

    Non-Executive Director

    • Tenure: 0yrs
    • Compensation: €230.00k

Company Information

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


Key Information

  • Name: Maire Tecnimont S.p.A.
  • Ticker: MT
  • Exchange: BIT
  • Founded: 1973
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €766.223m
  • Shares outstanding: 328.57m
  • Website: https://www.mairetecnimont.com

Number of Employees


Location

  • Maire Tecnimont S.p.A.
  • Via Gaetano De Castillia 6A
  • Milan
  • Milan
  • 20124
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MTBIT (Borsa Italiana)YesCommon StockITEURNov 2007
3OY1DB (Deutsche Boerse AG)YesCommon StockDEEURNov 2007
0QEPLSE (London Stock Exchange)YesCommon StockGBEURNov 2007
MTMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURNov 2007

Biography

Maire Tecnimont S.p.A. provides engineering services in Italy and internationally. Its Technology, Engineering and Construction segment designs and constructs plants, including separation, treatment, lique ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 21:01
End of Day Share Price2019/10/14 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.