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F.I.L.A. - Fabbrica Italiana Lapis ed Affini

BIT:FILA
Snowflake Description

Reasonable growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FILA
BIT
€699M
Market Cap
  1. Home
  2. IT
  3. Commercial Services
Company description

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. The last earnings update was 60 days ago. More info.


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FILA Share Price and Events
7 Day Returns
-1.3%
BIT:FILA
0.8%
IT Commercial Services
-0.8%
IT Market
1 Year Returns
-23.8%
BIT:FILA
-16.1%
IT Commercial Services
-1.2%
IT Market
FILA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
F.I.L.A. - Fabbrica Italiana Lapis ed Affini (FILA) -1.3% 0.6% 3.8% -23.8% 9.1% -
IT Commercial Services 0.8% 2.5% -3.6% -16.1% 25% -44.1%
IT Market -0.8% 3.1% -0.6% -1.2% 8.2% -31.9%
1 Year Return vs Industry and Market
  • FILA underperformed the Commercial Services industry which returned -16.1% over the past year.
  • FILA underperformed the Market in Italy which returned -1.2% over the past year.
Price Volatility
FILA
Industry
5yr Volatility vs Market

FILA Value

 Is F.I.L.A. - Fabbrica Italiana Lapis ed Affini undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of F.I.L.A. - Fabbrica Italiana Lapis ed Affini to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for F.I.L.A. - Fabbrica Italiana Lapis ed Affini.

BIT:FILA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.7%
Perpetual Growth Rate 10-Year IT Government Bond Rate 2.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BIT:FILA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IT Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 9%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.67
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.672 (1 + (1- 24%) (88.7%))
1.084
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.93% + (1.084 * 9.02%)
12.71%

Discounted Cash Flow Calculation for BIT:FILA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for F.I.L.A. - Fabbrica Italiana Lapis ed Affini is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BIT:FILA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 12.71%)
2020 55.03 Analyst x3 48.83
2021 63.90 Analyst x3 50.30
2022 71.14 Est @ 11.32% 49.68
2023 77.40 Est @ 8.81% 47.96
2024 82.85 Est @ 7.05% 45.55
2025 87.67 Est @ 5.81% 42.76
2026 92.01 Est @ 4.95% 39.82
2027 96.01 Est @ 4.34% 36.86
2028 99.77 Est @ 3.92% 33.99
2029 103.39 Est @ 3.62% 31.25
Present value of next 10 years cash flows €427.00
BIT:FILA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €103.39 × (1 + 2.93%) ÷ (12.71% – 2.93%)
€1,088.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,088.54 ÷ (1 + 12.71%)10
€329.01
BIT:FILA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €427.00 + €329.01
€756.01
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €756.01 / 50.95
€14.84
BIT:FILA Discount to Share Price
Calculation Result
Value per share (EUR) From above. €14.84
Current discount Discount to share price of €13.72
= -1 x (€13.72 - €14.84) / €14.84
7.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price F.I.L.A. - Fabbrica Italiana Lapis ed Affini is available for.
Intrinsic value
8%
Share price is €13.72 vs Future cash flow value of €14.84
Current Discount Checks
For F.I.L.A. - Fabbrica Italiana Lapis ed Affini to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for F.I.L.A. - Fabbrica Italiana Lapis ed Affini's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are F.I.L.A. - Fabbrica Italiana Lapis ed Affini's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:FILA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.11
BIT:FILA Share Price ** BIT (2019-07-19) in EUR €13.72
Italy Commercial Services Industry PE Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 17.81x
Italy Market PE Ratio Median Figure of 240 Publicly-Listed Companies 15.97x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of F.I.L.A. - Fabbrica Italiana Lapis ed Affini.

BIT:FILA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:FILA Share Price ÷ EPS (both in EUR)

= 13.72 ÷ 0.11

124.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is overvalued based on earnings compared to the IT Commercial Services industry average.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is overvalued based on earnings compared to the Italy market.
Price based on expected Growth
Does F.I.L.A. - Fabbrica Italiana Lapis ed Affini's expected growth come at a high price?
Raw Data
BIT:FILA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 124.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
38.1%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 52 Publicly-Listed Commercial Services Companies 1.29x
Italy Market PEG Ratio Median Figure of 161 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

BIT:FILA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 124.91x ÷ 38.1%

3.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on F.I.L.A. - Fabbrica Italiana Lapis ed Affini's assets?
Raw Data
BIT:FILA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €6.43
BIT:FILA Share Price * BIT (2019-07-19) in EUR €13.72
Italy Commercial Services Industry PB Ratio Median Figure of 9 Publicly-Listed Commercial Services Companies 2.19x
Italy Market PB Ratio Median Figure of 324 Publicly-Listed Companies 1.51x
BIT:FILA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:FILA Share Price ÷ Book Value per Share (both in EUR)

= 13.72 ÷ 6.43

2.13x

* Primary Listing of F.I.L.A. - Fabbrica Italiana Lapis ed Affini.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is good value based on assets compared to the IT Commercial Services industry average.
X
Value checks
We assess F.I.L.A. - Fabbrica Italiana Lapis ed Affini's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. F.I.L.A. - Fabbrica Italiana Lapis ed Affini has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FILA Future Performance

 How is F.I.L.A. - Fabbrica Italiana Lapis ed Affini expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
38.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is F.I.L.A. - Fabbrica Italiana Lapis ed Affini expected to grow at an attractive rate?
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's earnings growth is expected to exceed the Italy market average.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's revenue growth is expected to exceed the Italy market average.
Annual Growth Rates Comparison
Raw Data
BIT:FILA Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:FILA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 38.1%
BIT:FILA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 5.6%
Italy Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 25.9%
Europe Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Italy Market Earnings Growth Rate Market Cap Weighted Average 8.8%
Italy Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BIT:FILA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:FILA Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 763 56 2
2020-12-31 736 77 52 5
2019-12-31 703 70 39 4
BIT:FILA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 628 51 5
2018-12-31 589 50 9
2018-09-30 555 42 3
2018-06-30 509 30 7
2018-03-31 498 24 14
2017-12-31 510 24 16
2017-09-30 509 27 21
2017-06-30 484 29 22
2017-03-31 460 44 27
2016-12-31 425 42 21
2016-09-30 369 16 35
2016-06-30 338 16 31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's earnings are expected to grow significantly at over 20% yearly.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BIT:FILA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from F.I.L.A. - Fabbrica Italiana Lapis ed Affini Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:FILA Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.10 1.17 1.02 3.00
2020-12-31 1.03 1.07 0.93 5.00
2019-12-31 0.88 1.08 0.75 4.00
BIT:FILA Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.11
2018-12-31 0.20
2018-09-30 0.07
2018-06-30 0.17
2018-03-31 0.34
2017-12-31 0.38
2017-09-30 0.52
2017-06-30 0.53
2017-03-31 0.61
2016-12-31 0.51
2016-09-30 0.85
2016-06-30 0.77

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess F.I.L.A. - Fabbrica Italiana Lapis ed Affini's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Italy market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
F.I.L.A. - Fabbrica Italiana Lapis ed Affini has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FILA Past Performance

  How has F.I.L.A. - Fabbrica Italiana Lapis ed Affini performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare F.I.L.A. - Fabbrica Italiana Lapis ed Affini's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's 1-year earnings growth is negative, it can't be compared to the IT Commercial Services industry average.
Earnings and Revenue History
F.I.L.A. - Fabbrica Italiana Lapis ed Affini's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from F.I.L.A. - Fabbrica Italiana Lapis ed Affini Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:FILA Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 627.76 4.99 151.54
2018-12-31 588.75 8.75 142.03
2018-09-30 554.52 2.87 135.07
2018-06-30 508.95 7.05 124.49
2018-03-31 497.54 14.29 122.11
2017-12-31 510.35 15.77 122.26
2017-09-30 509.24 21.21 131.79
2017-06-30 483.53 21.82 98.46
2017-03-31 459.96 27.01 104.14
2016-12-31 425.24 20.99 95.60
2016-09-30 369.10 34.78 122.86
2016-06-30 337.75 30.72 71.49
2016-03-31 303.38 -20.95 85.35
2015-12-31 277.58 -16.72 68.05
2015-09-30 268.74 -27.03 9.63
2015-06-30 253.09 -29.92 10.30
2015-03-31 230.01 14.42 8.28
2014-12-31 234.82 16.65 9.63
2014-09-30 228.53 14.49 -22.06
2013-12-31 220.66 13.56 9.74
2012-12-31 217.78 14.74 9.60

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini used its assets less efficiently than the IT Commercial Services industry average last year based on Return on Assets.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess F.I.L.A. - Fabbrica Italiana Lapis ed Affini's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
F.I.L.A. - Fabbrica Italiana Lapis ed Affini has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FILA Health

 How is F.I.L.A. - Fabbrica Italiana Lapis ed Affini's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up F.I.L.A. - Fabbrica Italiana Lapis ed Affini's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of F.I.L.A. - Fabbrica Italiana Lapis ed Affini's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from F.I.L.A. - Fabbrica Italiana Lapis ed Affini Company Filings, last reported 3 months ago.

BIT:FILA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 343.56 620.00 41.22
2018-12-31 338.81 611.20 157.68
2018-09-30 249.97 637.33 45.35
2018-06-30 243.37 652.19 38.77
2018-03-31 241.31 321.72 51.84
2017-12-31 239.58 278.60 38.63
2017-09-30 249.39 313.61 36.71
2017-06-30 244.81 315.78 29.61
2017-03-31 248.62 297.53 41.00
2016-12-31 238.97 283.59 59.52
2016-09-30 231.70 194.05 19.00
2016-06-30 229.84 206.13 15.98
2016-03-31 227.16 196.32 29.62
2015-12-31 211.73 70.05 30.68
2015-09-30 176.89 96.40 65.80
2015-06-30 173.09 115.75 59.84
2015-03-31 111.97 91.17 32.73
2014-12-31 111.97 91.17 32.73
2014-09-30 110.50 99.10 19.40
2013-12-31 92.35 97.64 35.92
2012-12-31 78.98 109.00 26.19
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's level of debt (180.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (99.7% vs 180.5% today).
  • Debt is not well covered by operating cash flow (8.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.1x coverage).
X
Financial health checks
We assess F.I.L.A. - Fabbrica Italiana Lapis ed Affini's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. F.I.L.A. - Fabbrica Italiana Lapis ed Affini has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FILA Dividends

 What is F.I.L.A. - Fabbrica Italiana Lapis ed Affini's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.58%
Current annual income from F.I.L.A. - Fabbrica Italiana Lapis ed Affini dividends. Estimated to be 0.81% next year.
If you bought €2,000 of F.I.L.A. - Fabbrica Italiana Lapis ed Affini shares you are expected to receive €12 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's pays a lower dividend yield than the bottom 25% of dividend payers in Italy (2.1%).
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini's dividend is below the markets top 25% of dividend payers in Italy (4.44%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BIT:FILA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Italy Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.4%
Italy Market Average Dividend Yield Market Cap Weighted Average of 185 Stocks 4%
Italy Minimum Threshold Dividend Yield 10th Percentile 1%
Italy Bottom 25% Dividend Yield 25th Percentile 2.1%
Italy Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BIT:FILA Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.10 3.00
2020-12-31 0.12 5.00
2019-12-31 0.11 5.00
BIT:FILA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-20 0.080 0.607
2018-03-21 0.090 0.560
2017-03-21 0.090 0.480
2016-03-31 0.090 0.695
2016-03-22 0.090 0.825

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is not paying a notable dividend for Italy, therefore no need to check if the payments are stable.
  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini is not paying a notable dividend for Italy, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of F.I.L.A. - Fabbrica Italiana Lapis ed Affini's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of F.I.L.A. - Fabbrica Italiana Lapis ed Affini's dividends as it is not paying a notable one for Italy.
Future Payout to shareholders
  • No need to calculate the sustainability of F.I.L.A. - Fabbrica Italiana Lapis ed Affini's dividends in 3 years as they are not expected to pay a notable one for Italy.
X
Income/ dividend checks
We assess F.I.L.A. - Fabbrica Italiana Lapis ed Affini's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can F.I.L.A. - Fabbrica Italiana Lapis ed Affini afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. F.I.L.A. - Fabbrica Italiana Lapis ed Affini has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FILA Management

 What is the CEO of F.I.L.A. - Fabbrica Italiana Lapis ed Affini's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Massimo Candela
COMPENSATION €1,438,000
AGE 54
CEO Bio

Dr. Massimo Candela serves as the Chief Executive Officer of Fila-Fabbrica Italiana Lapis ed Affini SpA and has been its Director since June 4, 2015. Dr. Candela serves as the Chairman of Dixon Ticonderoga Co. Dr. Candela served as Vice Chairman at Dixon Ticonderoga Co. since March 31, 2005 and has been its Director since March 31, 2005.

CEO Compensation
  • Massimo's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Massimo's remuneration is higher than average for companies of similar size in Italy.
Management Team

Massimo Candela

TITLE
CEO & Director
COMPENSATION
€1M
AGE
54

Luca Pelosin

TITLE
Executive Director
COMPENSATION
€464K
AGE
53

Danny Lieberman

TITLE
Senior Vice President of Global Apparel
Board of Directors Tenure

Average tenure and age of the F.I.L.A. - Fabbrica Italiana Lapis ed Affini board of directors in years:

3.9
Average Tenure
57
Average Age
  • The tenure for the F.I.L.A. - Fabbrica Italiana Lapis ed Affini board of directors is about average.
Board of Directors

Gianni Mion

TITLE
Chairman
COMPENSATION
€103K
AGE
76

Massimo Candela

TITLE
CEO & Director
COMPENSATION
€1M
AGE
54
TENURE
4.1 yrs

Alberto Candela

TITLE
Honorary Chairman
COMPENSATION
€163K

Luca Pelosin

TITLE
Executive Director
COMPENSATION
€464K
AGE
53
TENURE
4.1 yrs

Gerolamo Dominioni

TITLE
Lead Independent Director
COMPENSATION
€46K
AGE
64
TENURE
3.8 yrs

Francesca Prandstraller

TITLE
Independent Director
COMPENSATION
€26K
AGE
57
TENURE
5 yrs

Gianfranco Consorti

TITLE
Chairman of the Board of Statutory Auditors
AGE
69
TENURE
1.3 yrs

Annalisa Barbera

TITLE
Non-Executive Director
COMPENSATION
€21K
AGE
50
TENURE
4 yrs

Filippo Zabban

TITLE
Independent Director
COMPENSATION
€14K
AGE
62
TENURE
1.2 yrs

Paola Bonini

TITLE
Independent Director
COMPENSATION
€18K
AGE
52
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess F.I.L.A. - Fabbrica Italiana Lapis ed Affini's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. F.I.L.A. - Fabbrica Italiana Lapis ed Affini has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FILA News

Simply Wall St News

Based On Its ROE, Is F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. (BIT:FILA) A High Quality Stock?

- Fabbrica Italiana Lapis ed Affini: 2.0% = €5.0m ÷ €344m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … - Fabbrica Italiana Lapis ed Affini Have A Good Return On Equity? … - Fabbrica Italiana Lapis ed Affini's Debt And Its 2.0% ROE F.I.L.A.

Simply Wall St -

Estimating The Fair Value Of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. (BIT:FILA)

We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (€, Millions) €45.00 €55.03 €63.90 €71.14 €77.40 €82.85 €87.67 €92.01 €96.01 €99.77 Growth Rate Estimate Source Analyst x1 Analyst x3 Analyst x3 Est @ 11.32% Est @ 8.81% Est @ 7.05% Est @ 5.81% Est @ 4.95% Est @ 4.34% Est @ 3.92% Present Value (€, Millions) Discounted @ 13.24% €39.74 €42.92 €44.00 €43.26 €41.56 €39.29 €36.71 €34.02 €31.35 €28.77 Present Value of 10-year Cash Flow (PVCF)= €381.63m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 13.2%.

Simply Wall St -

Did Changing Sentiment Drive F.I.L.A. - Fabbrica Italiana Lapis ed Affini's (BIT:FILA) Share Price Down By 32%?

- Fabbrica Italiana Lapis ed Affini To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … - Fabbrica Italiana Lapis ed Affini reported an EPS drop of 47% for the last year. … - Fabbrica Italiana Lapis ed Affini shareholders are down 29% for the year (even including dividends), falling short of the market return.

Simply Wall St -

Should We Worry About F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.'s (BIT:FILA) P/E Ratio?

- Fabbrica Italiana Lapis ed Affini S.p.A.'s (BIT:FILA), to help you decide if the stock is worth further research. … - Fabbrica Italiana Lapis ed Affini has a P/E ratio of 62.33. … - Fabbrica Italiana Lapis ed Affini?

Simply Wall St -

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. (BIT:FILA) Earns Among The Best Returns In Its Industry

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … How Do You Calculate Return On Capital Employed.

Simply Wall St -

F.I.L.A. - Fabbrica Italiana Lapis ed Affini Shareholders Have Enjoyed A 36% Share Price Gain

- Fabbrica Italiana Lapis ed Affini S.p.A. … - Fabbrica Italiana Lapis ed Affini made a small profit, in the last year, we think that the market is probably more focussed on the top line growth at the moment. … - Fabbrica Italiana Lapis ed Affini saw its revenue grow at 23% per year.

Simply Wall St -

Do Insiders Own Shares In F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. (BIT:FILA)?

- Fabbrica Italiana Lapis ed Affini S.p.A. … - Fabbrica Italiana Lapis ed Affini isn't enormous, but it's not particularly small either. … - Fabbrica Italiana Lapis ed Affini

Simply Wall St -

Should You Be Worried About F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.'s (BIT:FILA) 1.8% Return On Equity?

- Fabbrica Italiana Lapis ed Affini S.p.A. … - Fabbrica Italiana Lapis ed Affini has a return on equity of 1.8% for the last year. … - Fabbrica Italiana Lapis ed Affini?

Simply Wall St -

What Do You Get For Owning FILA - Fabbrica Italiana Lapis ed Affini SpA (BIT:FILA)?

and want to better understand how you can grow your money by investing in FILA - Fabbrica Italiana Lapis ed Affini SpA (BIT:FILA). … - Fabbrica Italiana Lapis ed Affini, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE). … - Fabbrica Italiana Lapis ed Affini's Return On Capital Employed

Simply Wall St -

Here's What FILA - Fabbrica Italiana Lapis ed Affini SpA's (BIT:FILA) P/E Is Telling Us

We'll show how you can use FILA - Fabbrica Italiana Lapis ed Affini SpA's (BIT:FILA) P/E ratio to inform your assessment of the investment opportunity. … - Fabbrica Italiana Lapis ed Affini has a price to earnings ratio of 91.52, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

FILA Company Info

Description

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. produces and sells coloring, designing, modelling, writing, and painting objects worldwide. The company offers modelling clay, polychrome drawing, colored pencils, watercolors, wax crayons, play dough, pens, graphite pencils, sharpeners, paints, markers, chalks, felt-tip pens, glitter glue, finger paints, sticks and paste, brushes, papier-mache and plaster, plasticine, engraving and painting, baby creative sets, make-up, erasers, oil crayons, mechanical pencils and leads, and monochrome drawing. The company offers its products under the brands, such as Giotto, Pongo, Das, Lyra, Canson, Maimeri, Daler & Rowney Lukas, and Ticonderoga. F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. was founded in 1920 and is headquartered in Pero, Italy.

Details
Name: F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.
FILA
Exchange: BIT
Founded: 1920
€699,017,481
50,948,796
Website: http://www.fila.it
Address: F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.
Via XXV Aprile 5,
Pero,
Milan, 20016,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT FILA Common Stock Borsa Italiana IT EUR 30. Jun 2014
DB 3S0 Common Stock Deutsche Boerse AG DE EUR 30. Jun 2014
LSE 0QIQ Common Stock London Stock Exchange GB EUR 30. Jun 2014
BATS-CHIXE FILAM Common Stock BATS 'Chi-X Europe' GB EUR 30. Jun 2014
Number of employees
Current staff
Staff numbers
9,500
F.I.L.A. - Fabbrica Italiana Lapis ed Affini employees.
Industry
Office Services and Supplies
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 22:04
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/05/20
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.