BIT:FILA

Stock Analysis Report

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

Executive Summary

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


Snowflake Analysis

Proven track record with reasonable growth potential.

Share Price & News

How has F.I.L.A. - Fabbrica Italiana Lapis ed Affini's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FILA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-10.5%

FILA

-10.5%

IT Commercial Services

-7.2%

IT Market


1 Year Return

-20.7%

FILA

-9.8%

IT Commercial Services

8.2%

IT Market

Return vs Industry: FILA underperformed the Italian Commercial Services industry which returned -9.8% over the past year.

Return vs Market: FILA underperformed the Italian Market which returned 8.2% over the past year.


Shareholder returns

FILAIndustryMarket
7 Day-10.5%-10.5%-7.2%
30 Day-15.5%-18.3%-3.3%
90 Day-20.1%-12.9%-2.2%
1 Year-20.2%-20.7%-8.7%-9.8%12.9%8.2%
3 Year-19.3%-23.7%8.4%3.7%29.0%16.0%
5 Yearn/a-29.0%-37.9%8.8%-28.3%

Price Volatility Vs. Market

How volatile is F.I.L.A. - Fabbrica Italiana Lapis ed Affini's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is F.I.L.A. - Fabbrica Italiana Lapis ed Affini undervalued compared to its fair value and its price relative to the market?

16.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FILA (€11.64) is trading below our estimate of fair value (€13.91)

Significantly Below Fair Value: FILA is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FILA is poor value based on its PE Ratio (24.8x) compared to the Commercial Services industry average (20.8x).

PE vs Market: FILA is poor value based on its PE Ratio (24.8x) compared to the Italian market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: FILA is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: FILA is good value based on its PB Ratio (2x) compared to the IT Commercial Services industry average (2.6x).


Next Steps

Future Growth

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

27.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FILA's forecast earnings growth (27.8% per year) is above the savings rate (1.2%).

Earnings vs Market: FILA's earnings (27.8% per year) are forecast to grow faster than the Italian market (10% per year).

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

Revenue vs Market: FILA's revenue (5.2% per year) is forecast to grow faster than the Italian market (4.2% per year).

High Growth Revenue: FILA's revenue (5.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FILA's Return on Equity is forecast to be low in 3 years time (15.6%).


Next Steps

Past Performance

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

19.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FILA has a large one-off loss of €21.8M impacting its September 30 2019 financial results.

Growing Profit Margin: FILA's current net profit margins (3.5%) are higher than last year (0.5%).


Past Earnings Growth Analysis

Earnings Trend: FILA's earnings have grown by 19.1% per year over the past 5 years.

Accelerating Growth: FILA's earnings growth over the past year (732%) exceeds its 5-year average (19.1% per year).

Earnings vs Industry: FILA earnings growth over the past year (732%) exceeded the Commercial Services industry 39.4%.


Return on Equity

High ROE: FILA's Return on Equity (7.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is F.I.L.A. - Fabbrica Italiana Lapis ed Affini's financial position?


Financial Position Analysis

Short Term Liabilities: FILA's short term assets (€538.4M) exceed its short term liabilities (€232.1M).

Long Term Liabilities: FILA's short term assets (€538.4M) do not cover its long term liabilities (€602.8M).


Debt to Equity History and Analysis

Debt Level: FILA's debt to equity ratio (155.2%) is considered high.

Reducing Debt: FILA's debt to equity ratio has increased from 89.6% to 155.2% over the past 5 years.

Debt Coverage: FILA's debt is not well covered by operating cash flow (15.5%).

Interest Coverage: FILA's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet

Inventory Level: FILA has a high level of physical assets or inventory.

Debt Coverage by Assets: FILA's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

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

0.69%

Current Dividend Yield


Dividend Yield vs Market

company0.7%marketbottom25%2.1%markettop25%4.7%industryaverage3.1%forecastin3Years1.0%

Current dividend yield vs market & industry

Notable Dividend: FILA's dividend (0.69%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (2.09%).

High Dividend: FILA's dividend (0.69%) is low compared to the top 25% of dividend payers in the Italian market (4.73%).


Stability and Growth of Payments

Stable Dividend: FILA is not paying a notable dividend for the Italian market, therefore no need to check if payments are stable.

Growing Dividend: FILA is not paying a notable dividend for the Italian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: FILA is not paying a notable dividend for the Italian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FILA's dividend in 3 years as they are not forecast to pay a notable one for the Italian market.


Next Steps

Management

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

4.3yrs

Average board tenure


CEO

Massimo Candela (54yo)

€1,438,000

Compensation

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 ...


CEO Compensation Analysis

Compensation vs Market: Massimo's total compensation ($USD1.56M) is above average for companies of similar size in the Italian market ($USD1.02M).

Compensation vs Earnings: Massimo's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Massimo Candela
CEO & Director0yrs€1.44m52.63% 340.0m
Luca Pelosin
Executive Director4.7yrs€463.60kno data
Alberto Candela
Honorary Chairman 0yrs€163.33kno data
Gerolamo Dominioni
Lead Independent Director4.3yrs€46.33kno data
Francesca Prandstraller
Independent Director5.6yrs€26.33kno data
Annalisa Barbera
Non-Executive Director4.6yrs€20.67kno data
Filippo Zabban
Independent Director1.8yrs€14.25kno data
Paola Bonini
Independent Director1.8yrs€18.00kno data
Giovanni Tempini
Chairman0.5yrsno datano data
Gianfranco Consorti
Chairman of the Board of Statutory Auditors1.8yrsno datano data

4.3yrs

Average Tenure

55.5yo

Average Age

Experienced Board: FILA's board of directors are considered experienced (4.3 years average tenure).


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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 20.6%.


Top Shareholders

Company Information

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.
  • Ticker: FILA
  • Exchange: BIT
  • Founded: 1920
  • Industry: Office Services and Supplies
  • Sector: Commercial Services
  • Market Cap: €646.031m
  • Shares outstanding: 50.95m
  • Website: https://www.fila.it

Number of Employees


Location

  • F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.
  • Via XXV Aprile 5
  • Pero
  • Milan
  • 20016
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
0QIQLSE (London Stock Exchange)YesCommon StockGBEURJun 2014
3S0DB (Deutsche Boerse AG)YesCommon StockDEEURJun 2014
FILAMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURJun 2014
FILABIT (Borsa Italiana)YesCommon StockITEURJun 2014

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 23:00
End of Day Share Price2020/02/24 00:00
Earnings2019/09/30
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.