BIT:TPS

Stock Analysis Report

Technical Publications Service

Executive Summary

Technical Publications Service S.p.A. provides technical and engineering services for the aeronautical industry.

Snowflake

Fundamentals

Undervalued with excellent balance sheet.

Share Price & News

How has Technical Publications Service's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

7.6%

TPS

0.3%

IT Aerospace & Defense

2.1%

IT Market


1 Year Return

9.2%

TPS

10.5%

IT Aerospace & Defense

11.7%

IT Market

Return vs Industry: TPS matched the Italian Aerospace & Defense industry which returned 10.5% over the past year.

Return vs Market: TPS matched the Italian Market which returned 11.7% over the past year.


Shareholder returns

TPSIndustryMarket
7 Day7.6%0.3%2.1%
30 Day3.9%-3.3%1.5%
90 Day8.1%-1.8%1.9%
1 Year10.5%9.2%12.9%10.5%16.6%11.7%
3 Yearn/a74.0%62.9%26.6%9.2%
5 Yearn/a136.2%107.5%21.6%-26.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Technical Publications Service undervalued compared to its fair value and its price relative to the market?

32.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: TPS (€4.26) is trading below our estimate of fair value (€6.26)

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


Price To Earnings Ratio

PE vs Industry: TPS is good value based on its PE Ratio (15.9x) compared to the Aerospace & Defense industry average (21.8x).

PE vs Market: TPS is good value based on its PE Ratio (15.9x) compared to the Italian market (17.1x).


Price to Earnings Growth Ratio

Low PEG Ratio: TPS is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: TPS is good value based on its PB Ratio (1.7x) compared to the XE Aerospace & Defense industry average (1.9x).


Next Steps

Future Growth

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

24.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TPS's forecast earnings growth (24.6% per year) is above the savings rate (2.9%).

Earnings vs Market: TPS's earnings (24.6% 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: TPS's revenue (10.9% per year) is forecast to grow faster than the Italian market (3.1% per year).

High Growth Revenue: TPS's revenue (10.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Technical Publications Service performed over the past 5 years?

16.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TPS's earnings have grown by 16.8% per year over the past 5 years.

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

Earnings vs Industry: TPS had negative earnings growth (-10%) over the past year, making it difficult to compare to the Aerospace & Defense industry average (16.4%).


Return on Equity

High ROE: TPS's Return on Equity (10.5%) is considered low.


Return on Assets

ROA vs Industry: TPS has a higher Return on Assets than the Aerospace & Defense industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is Technical Publications Service's financial position?


Financial Position Analysis

Short Term Liabilities: TPS's short term assets (€24.1M) exceeds its short term liabilities (€8.8M)

Long Term Liabilities: TPS's short term assets (24.1M) exceeds its long term liabilities (3.1M)


Debt to Equity History and Analysis

Debt Level: TPS's debt to equity ratio (9.4%) is considered satisfactory

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

Debt Coverage: TPS's debt is well covered by operating cash flow (326.1%).

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


Balance Sheet

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

Debt Coverage by Assets: TPS's debt is covered by short term assets (assets are 13.784500x debt).


Next Steps

Dividend

What is Technical Publications Service's current dividend yield, its reliability and sustainability?

1.17%

Current Dividend Yield


Dividend Yield vs Market

company1.2%marketbottom25%2.1%markettop25%4.4%industryaverage1.7%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: TPS's dividend (1.17%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (2.07%).

High Dividend: TPS's dividend (1.17%) is low compared to the top 25% of dividend payers in the Italian market (4.44%).

Stable Dividend: Too early to tell whether TPS's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if TPS's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.7%), TPS's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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


CEO

Technical Publications Service has no CEO, or we have no data on them.


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


    Board Members

      Company Information

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


      Key Information

      • Name: Technical Publications Service S.p.A.
      • Ticker: TPS
      • Exchange: BIT
      • Founded: 1964
      • Industry: Aerospace and Defense
      • Sector: Capital Goods
      • Market Cap: €30.918m
      • Shares outstanding: 7.26m
      • Website: https://www.tps-group.it

      Location

      • Technical Publications Service S.p.A.
      • via Olanda n. 5
      • Gallarate
      • Varese
      • Italy

      Listings

      TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
      TPSBIT (Borsa Italiana)YesCommon StockITEURMar 2017

      Biography

      Technical Publications Service S.p.A. provides technical and engineering services for the aeronautical industry. It also provides support and consulting services to the customers in the design of complex,  ...


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2019/10/17 21:33
      End of Day Share Price2019/10/17 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.