BIT:EM

Stock Analysis Report

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Executive Summary

Emak S.p.A., together with its subsidiaries, develops, manufactures, and markets various products in the outdoor power equipment, pumps and high pressure water jetting, and components and accessories business areas. More Details


Snowflake Analysis

Good value with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: EM has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.6%

EM

-3.2%

IT Consumer Durables

-0.5%

IT Market


1 Year Return

6.5%

EM

51.1%

IT Consumer Durables

-16.1%

IT Market

Return vs Industry: EM underperformed the Italian Consumer Durables industry which returned 53.7% over the past year.

Return vs Market: EM exceeded the Italian Market which returned -16.6% over the past year.


Shareholder returns

EMIndustryMarket
7 Day2.6%-3.2%-0.5%
30 Day7.7%-1.1%-0.06%
90 Day14.3%16.7%-4.1%
1 Year6.5%6.5%51.2%51.1%-14.0%-16.1%
3 Year-48.6%-52.0%1.5%-4.3%-13.1%-21.1%
5 Year23.2%9.0%45.3%29.7%-7.7%-28.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

10.97x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: EM (€0.9) is trading above our estimate of fair value (€0.54)

Significantly Below Fair Value: EM is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: EM is good value based on its PE Ratio (11x) compared to the IT Consumer Durables industry average (16x).

PE vs Market: EM is good value based on its PE Ratio (11x) compared to the Italian market (16.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: EM is good value based on its PB Ratio (0.7x) compared to the IT Consumer Durables industry average (1.8x).


Next Steps

Future Growth

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

16.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EM's forecast earnings growth (16.2% per year) is above the savings rate (2%).

Earnings vs Market: EM's earnings (16.2% per year) are forecast to grow slower than the Italian market (24% per year).

High Growth Earnings: EM's earnings are forecast to grow, but not significantly.

Revenue vs Market: EM's revenue (3% per year) is forecast to grow slower than the Italian market (3.3% per year).

High Growth Revenue: EM's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EM's Return on Equity is forecast to be low in 3 years time (8.4%).


Next Steps

  • Explore growth companies in the Consumer Durables industry.

Past Performance

How has Emak performed over the past 5 years?

8.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EM has high quality earnings.

Growing Profit Margin: EM's current net profit margins (3%) are lower than last year (3.2%).


Past Earnings Growth Analysis

Earnings Trend: EM's earnings have grown by 8.3% per year over the past 5 years.

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

Earnings vs Industry: EM had negative earnings growth (-3.5%) over the past year, making it difficult to compare to the Consumer Durables industry average (-15.5%).


Return on Equity

High ROE: EM's Return on Equity (6.3%) is considered low.


Next Steps

Financial Health

How is Emak's financial position?


Financial Position Analysis

Short Term Liabilities: EM's short term assets (€374.0M) exceed its short term liabilities (€172.9M).

Long Term Liabilities: EM's short term assets (€374.0M) exceed its long term liabilities (€186.1M).


Debt to Equity History and Analysis

Debt Level: EM's debt to equity ratio (96.6%) is considered high.

Reducing Debt: EM's debt to equity ratio has increased from 86.8% to 96.6% over the past 5 years.

Debt Coverage: EM's debt is not well covered by operating cash flow (15.2%).

Interest Coverage: EM's interest payments on its debt are well covered by EBIT (10.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Emak current dividend yield, its reliability and sustainability?

4.35%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate EM'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 EM's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

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

€783k

CEO Compensation


CEO

Fausto Bellamico

no data

Tenure

€783,000

Compensation

Mr. Fausto Bellamico serves as the Chief Executive Officer and Chairman of the Board of EMAK Spa. Mr. Bellamico served as a General Manager of Emak SpA.


CEO Compensation Analysis

Compensation vs Market: Fausto's total compensation ($USD0.00) is below average for companies of similar size in the Italian market ($USD530.78K).

Compensation vs Earnings: Fausto's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Emak S.p.A.
  • Ticker: EM
  • Exchange: BIT
  • Founded: 1972
  • Industry: Household Appliances
  • Sector: Consumer Durables
  • Market Cap: €146.693m
  • Shares outstanding: 163.54m
  • Website: https://www.emak.it

Number of Employees


Location

  • Emak S.p.A.
  • Via Fermi, 4
  • Bagnolo In Piano
  • Reggio Emilia
  • 42011
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EMBIT (Borsa Italiana)YesOrdinary SharesITEURJun 1998
0N9OLSE (London Stock Exchange)YesOrdinary SharesGBEURJun 1998
EMMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 1998
EK4DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 1998

Biography

Emak S.p.A., together with its subsidiaries, develops, manufactures, and markets various products in the outdoor power equipment, pumps and high pressure water jetting, and components and accessories busin ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/23 20:59
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
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.