BIT:FPE

Stock Analysis Report

Executive Summary

Fope S.p.A. produces and distributes jewelry in Italy and internationally.


Snowflake Analysis

Good value with reasonable growth potential.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

8.2%

FPE

-2.9%

IT Luxury

-0.2%

IT Market


1 Year Return

38.3%

FPE

-11.5%

IT Luxury

15.8%

IT Market

Return vs Industry: FPE exceeded the Italian Luxury industry which returned -11.5% over the past year.

Return vs Market: FPE exceeded the Italian Market which returned 15.8% over the past year.


Shareholder returns

FPEIndustryMarket
7 Day8.2%-2.9%-0.2%
30 Day1.1%-8.4%3.8%
90 Day4.5%-3.7%5.3%
1 Year44.8%38.3%-10.1%-11.5%20.8%15.8%
3 Year221.7%201.6%-28.4%-35.3%39.2%25.2%
5 Yearn/a-38.4%-48.8%15.5%-24.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

16.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FPE (€9.2) is trading below our estimate of fair value (€11.01)

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


Price To Earnings Ratio

PE vs Industry: FPE is good value based on its PE Ratio (13.8x) compared to the Luxury industry average (15.4x).

PE vs Market: FPE is good value based on its PE Ratio (13.8x) compared to the Italian market (18.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: FPE is overvalued based on its PB Ratio (2.9x) compared to the IT Luxury industry average (1.3x).


Next Steps

Future Growth

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

16.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FPE's forecast earnings growth (16.2% per year) is above the savings rate (1.2%).

Earnings vs Market: FPE's earnings (16.2% per year) are forecast to grow faster than the Italian market (9.8% per year).

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

Revenue vs Market: FPE's revenue (10.4% per year) is forecast to grow faster than the Italian market (4.2% per year).

High Growth Revenue: FPE's revenue (10.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FPE's Return on Equity is forecast to be high in 3 years time (20.7%)


Next Steps

Past Performance

How has Fope performed over the past 5 years?

37.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FPE has high quality earnings.

Growing Profit Margin: FPE's current net profit margins (10.3%) are lower than last year (11.3%).


Past Earnings Growth Analysis

Earnings Trend: FPE's earnings have grown significantly by 37.2% per year over the past 5 years.

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

Earnings vs Industry: FPE had negative earnings growth (-2.7%) over the past year, making it difficult to compare to the Luxury industry average (-11.5%).


Return on Equity

High ROE: FPE's Return on Equity (19.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Fope's financial position?


Financial Position Analysis

Short Term Liabilities: FPE's short term assets (€24.8M) exceed its short term liabilities (€9.4M).

Long Term Liabilities: FPE's short term assets (€24.8M) exceed its long term liabilities (€9.6M).


Debt to Equity History and Analysis

Debt Level: FPE's debt to equity ratio (63.4%) is considered high.

Reducing Debt: Insufficient data to determine if FPE's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: FPE's debt is well covered by operating cash flow (49.2%).

Interest Coverage: FPE's interest payments on its debt are well covered by EBIT (44.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: FPE's debt is covered by short term assets (assets are 2.4x debt).


Next Steps

Dividend

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

3.80%

Current Dividend Yield


Dividend Yield vs Market

company3.8%marketbottom25%2.0%markettop25%4.5%industryaverage2.1%forecastin3Years4.1%

Current dividend yield vs market & industry

Notable Dividend: FPE's dividend (3.8%) is higher than the bottom 25% of dividend payers in the Italian market (2%).

High Dividend: FPE's dividend (3.8%) is low compared to the top 25% of dividend payers in the Italian market (4.47%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FPE has been paying a dividend for less than 10 years.

Growing Dividend: FPE's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.4%), FPE's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FPE's dividends in 3 years are forecast to be well covered by earnings (41.8% payout ratio).


Next Steps

Management

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


CEO

Diego Nardin 0

0

Mr. Diego Nardin serves as Chief Executive Officer and Director at Fope S.p.A. 


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 5.3%.


Top Shareholders

Company Information

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


Key Information

  • Name: Fope S.p.A.
  • Ticker: FPE
  • Exchange: BIT
  • Founded: 1929
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: €48.705m
  • Shares outstanding: 5.29m
  • Website: https://www.fope.com

Number of Employees


Location

  • Fope S.p.A.
  • Via Zampieri Giuseppe, 31
  • Vicenza
  • Vicenza
  • 36100
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FPEBIT (Borsa Italiana)YesOrdinary SharesITEURNov 2016

Biography

Fope S.p.A. produces and distributes jewelry in Italy and internationally. It offers bracelets, rings, necklaces, ear rings, and watches, as well as other collections. The company was founded in 1929 and is headquartered in Vicenza, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/22 22:47
End of Day Share Price2020/02/21 00:00
Earnings2019/06/30
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.