BIT:PVN

Stock Analysis Report

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Executive Summary

Piovan S.p.A., through its subsidiaries, engages in the development and production of automation systems for storage, transport, and processing of plastics, and food powders and non-plastics in Europe, the Middle East, Africa, Asia, North America, and South America. More Details


Snowflake Analysis

Outstanding track record and good value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: PVN is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: PVN's weekly volatility (7%) has been stable over the past year.


Market Performance


7 Day Return

-0.7%

PVN

-1.4%

IT Machinery

-1.8%

IT Market


1 Year Return

-7.1%

PVN

5.7%

IT Machinery

-10.4%

IT Market

Return vs Industry: PVN underperformed the Italian Machinery industry which returned 5.2% over the past year.

Return vs Market: PVN exceeded the Italian Market which returned -9.7% over the past year.


Shareholder returns

PVNIndustryMarket
7 Day-0.7%-1.4%-1.8%
30 Day19.1%4.0%1.2%
90 Day18.8%13.0%13.5%
1 Year-4.8%-7.1%7.4%5.7%-7.5%-10.4%
3 Yearn/a-17.4%-20.9%-4.9%-14.8%
5 Yearn/a92.8%76.0%29.0%0.2%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

27.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PVN (€5.56) is trading below our estimate of fair value (€7.59)

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


Price To Earnings Ratio

PE vs Industry: PVN is good value based on its PE Ratio (15.7x) compared to the IT Machinery industry average (21.6x).

PE vs Market: PVN is good value based on its PE Ratio (15.7x) compared to the Italian market (20.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PVN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PVN is overvalued based on its PB Ratio (4x) compared to the IT Machinery industry average (1.6x).


Next Steps

Future Growth

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

14.2%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PVN's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if PVN's earnings are forecast to grow faster than the Italian market

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

Revenue vs Market: PVN's revenue (14.2% per year) is forecast to grow faster than the Italian market (3.2% per year).

High Growth Revenue: PVN's revenue (14.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PVN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Piovan performed over the past 5 years?

3.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PVN has high quality earnings.

Growing Profit Margin: PVN's current net profit margins (8.3%) are higher than last year (7.3%).


Past Earnings Growth Analysis

Earnings Trend: PVN's earnings have grown by 3.9% per year over the past 5 years.

Accelerating Growth: PVN's earnings growth over the past year (7.1%) exceeds its 5-year average (3.9% per year).

Earnings vs Industry: PVN earnings growth over the past year (7.1%) exceeded the Machinery industry -6.7%.


Return on Equity

High ROE: PVN's Return on Equity (24.3%) is considered high.


Next Steps

Financial Health

How is Piovan's financial position?


Financial Position Analysis

Short Term Liabilities: PVN's short term assets (€156.6M) exceed its short term liabilities (€104.7M).

Long Term Liabilities: PVN's short term assets (€156.6M) exceed its long term liabilities (€40.3M).


Debt to Equity History and Analysis

Debt Level: PVN's debt to equity ratio (77.2%) is considered high.

Reducing Debt: Insufficient data to determine if PVN's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: PVN's debt is well covered by operating cash flow (47.4%).

Interest Coverage: PVN earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Piovan current dividend yield, its reliability and sustainability?

2.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PVN's dividend (2.7%) is higher than the bottom 25% of dividend payers in the Italian market (1.43%).

High Dividend: PVN's dividend (2.7%) is low compared to the top 25% of dividend payers in the Italian market (4.57%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PVN has been paying a dividend for less than 10 years.

Growing Dividend: PVN 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 (42.3%), PVN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PVN's dividends in 3 years are forecast to be covered by earnings (51.8% payout ratio).


Next Steps

Management

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

€375k

CEO Compensation


CEO

Filippo Zuppichin

no data

Tenure

€375,183

Compensation

Mr. Filippo Zuppichin serves as Chief Executive Officer of Piovan S.p.A and serves as its Managing Director. Mr. Zuppichin graduated with honors in Electronic Engineering from the University of Padua in 19...


CEO Compensation Analysis

Compensation vs Market: Filippo's total compensation ($USD0.00) is below average for companies of similar size in the Italian market ($USD872.77K).

Compensation vs Earnings: Insufficient data to compare Filippo'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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Piovan S.p.A.
  • Ticker: PVN
  • Exchange: BIT
  • Founded: 1934
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: €283.167m
  • Shares outstanding: 50.93m
  • Website: https://www.piovan.com

Number of Employees


Location

  • Piovan S.p.A.
  • Via delle Industrie, 16
  • Santa Maria Di Sala
  • Venice
  • 30036
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PVNBIT (Borsa Italiana)YesShare CapitalITEUROct 2018
PV0DB (Deutsche Boerse AG)YesShare CapitalDEEUROct 2018
PVNMBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBEUROct 2018

Biography

Piovan S.p.A., through its subsidiaries, engages in the development and production of automation systems for storage, transport, and processing of plastics, and food powders and non-plastics in Europe, the...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 18:41
End of Day Share Price2021/01/22 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.