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.

Risks

  • Technical Publications Service is covered by less than 3 analysts.

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

2.0%

BIT:TPS

0.6%

IT Aerospace & Defense

-0.3%

IT Market


1 Year Return

0.2%

BIT:TPS

7.4%

IT Aerospace & Defense

-0.6%

IT Market

TPS underperformed the Aerospace & Defense industry which returned 6.4% over the past year.

TPS matched the Italy Market (0.6%) over the past year.


Share holder returns

TPSIndustryMarket
7 Day2.0%0.6%-0.3%
30 Day6.8%4.5%5.6%
90 Day2.5%5.3%1.1%
1 Year1.4%0.2%9.7%7.4%3.7%-0.6%
3 Yearn/a84.6%72.7%31.3%13.5%
5 Yearn/a134.0%105.4%13.5%-30.8%

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 based on future cash flows and its price relative to the stock market?

34%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Technical Publications Service's share price is below the future cash flow value, and at a moderate discount (> 20%).

Technical Publications Service's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Technical Publications Service is good value based on earnings compared to the Europe Aerospace & Defense industry average.

Technical Publications Service is good value based on earnings compared to the Italy market.


Price Based on Expected Growth

Technical Publications Service is good value based on expected growth next year.


Price Based on Value of Assets

Technical Publications Service is good value based on assets compared to the Europe Aerospace & Defense industry average.


Next Steps

Future Growth

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

20.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Technical Publications Service's revenue is expected to grow by 13.9% yearly, however this is not considered high growth (20% yearly).

Technical Publications Service's earnings are expected to grow significantly at over 20% yearly.

Technical Publications Service's revenue growth is expected to exceed the Italy market average.

Technical Publications Service's earnings growth is expected to exceed the Italy market average.

Technical Publications Service's earnings growth is expected to exceed the low risk savings rate of 2.9%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Technical Publications Service will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

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

1.3%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Insufficient data to establish if Technical Publications Service's year on year earnings growth rate was positive over the past 5 years.

Unable to compare Technical Publications Service's 1-year earnings growth to the 5-year average due to insufficient past data.

Technical Publications Service's earnings growth has not exceeded the Europe Aerospace & Defense industry average in the past year (1.3% vs 16.4%).


Return on Equity

Technical Publications Service has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Technical Publications Service used its assets more efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.


Return on Capital Employed

Technical Publications Service's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Technical Publications Service's financial position?


Financial Position Analysis

Technical Publications Service is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Technical Publications Service's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Technical Publications Service's level of debt (13.9%) compared to net worth is satisfactory (less than 40%).

Unable to establish if Technical Publications Service's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (246.1%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 92.6x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 9.4x debt.


Next Steps

Dividend

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

1.22%

Current Dividend Yield


Dividend Yield and Payments Analysis

Technical Publications Service's pays a lower dividend yield than the bottom 25% of dividend payers in Italy (2.01%).

Technical Publications Service's dividend is below the markets top 25% of dividend payers in Italy (4.35%).

It is too early to tell whether Technical Publications Service has stable dividend payments.

Technical Publications Service only just started paying a dividend, it is too early to tell if payments are increasing.


Current Payout to Shareholders

Dividends paid are well covered by earnings (5.9x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


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

No 3 month open market individual insider trading information.


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: €29.757m
      • 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 Analysis2019/09/17 21:56
      End of Day Share Price2019/09/17 00:00
      Earnings2018/12/31
      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.