BIT:ELC

Stock Analysis Report

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Executive Summary

Elica S.p.A. designs, manufactures, and sells motors for cooker hoods and central heating boilers in Europe and CIS countries, America, and internationally.


Snowflake Analysis

Excellent balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0.7%

ELC

1.4%

IT Consumer Durables

6.4%

IT Market


1 Year Return

26.8%

ELC

1.9%

IT Consumer Durables

-6.0%

IT Market

Return vs Industry: ELC exceeded the Italian Consumer Durables industry which returned 3.3% over the past year.

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


Shareholder returns

ELCIndustryMarket
7 Day0.7%1.4%6.4%
30 Day-0.9%16.4%12.6%
90 Day1.4%23.8%-5.6%
1 Year26.8%26.8%1.9%1.9%-3.6%-6.0%
3 Year56.5%56.5%-26.9%-31.1%-3.4%-12.1%
5 Year46.2%45.5%4.0%-7.1%-8.4%-39.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

37.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ELC (€2.91) is trading below our estimate of fair value (€4.65)

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


Price To Earnings Ratio

PE vs Industry: ELC is poor value based on its PE Ratio (69.4x) compared to the Consumer Durables industry average (11.9x).

PE vs Market: ELC is poor value based on its PE Ratio (69.4x) compared to the Italian market (16.1x).


Price to Earnings Growth Ratio

PEG Ratio: ELC is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: ELC is overvalued based on its PB Ratio (1.7x) compared to the IT Consumer Durables industry average (1.4x).


Next Steps

Future Growth

How is Elica forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

94.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ELC's forecast earnings growth (94.1% per year) is above the savings rate (2%).

Earnings vs Market: ELC's earnings (94.1% per year) are forecast to grow faster than the Italian market (24.1% per year).

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

Revenue vs Market: ELC's revenue (3.9% per year) is forecast to grow slower than the Italian market (4% per year).

High Growth Revenue: ELC's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ELC's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has Elica performed over the past 5 years?

-19.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ELC has high quality earnings.

Growing Profit Margin: ELC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ELC's earnings have declined by -19.2% per year over the past 5 years.

Accelerating Growth: ELC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ELC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Consumer Durables industry (7.7%).


Return on Equity

High ROE: ELC's Return on Equity (5.8%) is considered low.


Next Steps

Financial Health

How is Elica's financial position?


Financial Position Analysis

Short Term Liabilities: ELC's short term assets (€184.4M) exceed its short term liabilities (€171.3M).

Long Term Liabilities: ELC's short term assets (€184.4M) exceed its long term liabilities (€90.5M).


Debt to Equity History and Analysis

Debt Level: ELC's debt to equity ratio (66%) is considered high.

Reducing Debt: ELC's debt to equity ratio has reduced from 81.2% to 66% over the past 5 years.

Debt Coverage: ELC's debt is well covered by operating cash flow (43.4%).

Interest Coverage: ELC's interest payments on its debt are well covered by EBIT (9.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Elica's current dividend yield, its reliability and sustainability?

1.17%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ELC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ELC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ELC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ELC's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ELC'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?

1.4yrs

Average management tenure


CEO

Mauro Sacchetto (60yo)

1.42yrs

Tenure

Mr. Mauro Sacchetto serves as Chief Executive Officer and Director at Elica S.p.A. since 2019. He served as the Chief Executive Officer of Marelli Motori S.p.A. Mr. Sacchetto served as the Chief Executive  ...


Leadership Team

NamePositionTenureCompensationOwnership
Francesco Casoli
Executive Chairman5.17yrs€665.82k0.21% 380.8k
Mauro Sacchetto
CEO & Director1.42yrsno datano data
Giulio Cocci
Group CFO0.75yrno datano data
Gianguido Cerullo
Chief Commercial Officer and Vice President Sales & Marketing4.92yrsno datano data
Urbano Urbani
Chief Executive Officer of Airforce S.P.A.no datano datano data
Pralhad Bhutada
CEO & Director of Elica PB India Private Ltdno datano datano data
Laura Giovanetti
Investor Relations Managerno datano datano data

1.4yrs

Average Tenure

Experienced Management: ELC's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Francesco Casoli
Executive Chairman5.17yrs€665.82k0.21% 380.8k
Mauro Sacchetto
CEO & Director1.42yrsno datano data
Pralhad Bhutada
CEO & Director of Elica PB India Private Ltdno datano datano data
Giovanni Tamburi
Non-Executive Director0.75yrno datano data
Elio Catania
Independent Director5.17yrsno datano data
Giovanni Frezzotti
President of the Board of Statutory Auditors2.42yrs€7.46kno data
Keiichi Kashimura
Chairman of Ariafina Co.no datano datano data
Cristina Mahne
Independent Director2.42yrsno datano data
Barbara Poggiali
Independent Director2.42yrsno datano data
Federica Medici
Lead Independent Directorno datano datano data

2.4yrs

Average Tenure

59yo

Average Age

Experienced Board: ELC's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


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 2.1%.


Top Shareholders

Company Information

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


Key Information

  • Name: Elica S.p.A.
  • Ticker: ELC
  • Exchange: BIT
  • Founded: 1970
  • Industry: Household Appliances
  • Sector: Consumer Durables
  • Market Cap: €183.320m
  • Shares outstanding: 63.32m
  • Website: https://www.elica.com

Number of Employees


Location

  • Elica S.p.A.
  • Via Ermanno Casoli N° 2
  • Fabriano
  • Ancona
  • 60044
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ELCBIT (Borsa Italiana)YesOrdinary SharesITEURNov 2006
0EA2LSE (London Stock Exchange)YesOrdinary SharesGBEURNov 2006
7L4DB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2006
ELCMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 2006

Biography

Elica S.p.A. designs, manufactures, and sells motors for cooker hoods and central heating boilers in Europe and CIS countries, America, and internationally. The company offers wall mounted, built-in, island, corner, ceiling, and downdraft hoods. It designs, manufactures, and sells electric motors, hoods for domestic use, and boilers. In addition, the company produces and sells various range of hoods, gas hobs, kitchenware sterilizers, and kitchen home appliances. It offers its products under the Elica, Turboair, Jetair, Ariafina, Arietta, Puti, and FIME brand names. The company was founded in 1970 and is headquartered in Fabriano, Italy. Elica S.p.A. is a subsidiary of Fan S.A. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/02 22:04
End of Day Share Price2020/06/02 00:00
Earnings2020/03/31
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.