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Luxottica Group

BIT:LUX
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LUX
BIT
€23B
Market Cap
  1. Home
  2. IT
  3. Consumer Durables
Company description

Luxottica Group S.p.A., together with its subsidiaries, provides fashion, luxury, sports, and performance eyewear worldwide. The last earnings update was 222 days ago. More info.


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LUX Share Price and Events
7 Day Returns
-2.9%
BIT:LUX
-1.2%
IT Luxury
1%
IT Market
1 Year Returns
-4.1%
BIT:LUX
-3.7%
IT Luxury
-4.5%
IT Market
LUX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Luxottica Group (LUX) -2.9% -5.6% -6.6% -4.1% -2.8% 24.1%
IT Luxury -1.2% 0.3% 0.7% -3.7% 6.9% 13.8%
IT Market 1% 4.6% 6% -4.5% -8.6% -33.4%
1 Year Return vs Industry and Market
Price Volatility
LUX
Industry
5yr Volatility vs Market

LUX Value

 Is Luxottica Group 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 Luxottica Group 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Luxottica Group.

BIT:LUX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
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:LUX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IT Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 9%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.686 (1 + (1- 24%) (8.05%))
0.818
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.93% + (0.818 * 9.02%)
10.31%

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

The calculations below outline how an intrinsic value for Luxottica Group 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:LUX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 10.31%)
2019 971.25 Analyst x4 880.46
2020 986.67 Analyst x3 810.82
2021 1,056.00 Analyst x1 786.67
2022 1,115.00 Analyst x1 752.98
2023 1,171.00 Analyst x1 716.87
2024 1,221.49 Est @ 4.31% 677.88
2025 1,269.12 Est @ 3.9% 638.47
2026 1,314.92 Est @ 3.61% 599.67
2027 1,359.72 Est @ 3.41% 562.14
2028 1,404.11 Est @ 3.26% 526.22
Present value of next 10 years cash flows €6,952.19
BIT:LUX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,404.11 × (1 + 2.93%) ÷ (10.31% – 2.93%)
€19,589.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €19,589.24 ÷ (1 + 10.31%)10
€7,341.55
BIT:LUX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €6,952.19 + €7,341.55
€14,293.74
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €14,293.74 / 479.12
€29.83
BIT:LUX Discount to Share Price
Calculation Result
Value per share (EUR) From above. €29.83
Current discount Discount to share price of €49.00
= -1 x (€49.00 - €29.83) / €29.83
-64.2%

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

  • The current share price of Luxottica Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Luxottica Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Luxottica Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:LUX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €2.10
BIT:LUX Share Price ** BIT (2019-03-01) in EUR €49
Italy Luxury Industry PE Ratio Median Figure of 15 Publicly-Listed Luxury Companies 15.15x
Italy Market PE Ratio Median Figure of 238 Publicly-Listed Companies 15.69x

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

** Primary Listing of Luxottica Group.

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

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

= 49 ÷ 2.10

23.3x

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

  • Luxottica Group is overvalued based on earnings compared to the IT Luxury industry average.
  • Luxottica Group is overvalued based on earnings compared to the Italy market.
Price based on expected Growth
Does Luxottica Group's expected growth come at a high price?
Raw Data
BIT:LUX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
6.6%per year
Italy Luxury Industry PEG Ratio Median Figure of 10 Publicly-Listed Luxury Companies 2.18x
Italy Market PEG Ratio Median Figure of 165 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.3x ÷ 6.6%

3.53x

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

  • Luxottica Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Luxottica Group's assets?
Raw Data
BIT:LUX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €12.37
BIT:LUX Share Price * BIT (2019-03-01) in EUR €49
Italy Luxury Industry PB Ratio Median Figure of 19 Publicly-Listed Luxury Companies 1.83x
Italy Market PB Ratio Median Figure of 307 Publicly-Listed Companies 1.58x
BIT:LUX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 49 ÷ 12.37

3.96x

* Primary Listing of Luxottica Group.

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

  • Luxottica Group is overvalued based on assets compared to the IT Luxury industry average.
X
Value checks
We assess Luxottica Group'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 Luxury 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 Luxury industry average (and greater than 0)? (1 check)
  5. Luxottica Group has a total score of 0/6, 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.

LUX Future Performance

 How is Luxottica Group expected to perform in the next 1 to 3 years based on estimates from 9 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
6.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Luxottica Group expected to grow at an attractive rate?
  • Luxottica Group's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Luxottica Group's earnings growth is positive but not above the Italy market average.
  • Luxottica Group's revenue growth is expected to exceed the Italy market average.
Annual Growth Rates Comparison
Raw Data
BIT:LUX Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:LUX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 6.6%
BIT:LUX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 4.6%
Italy Luxury Industry Earnings Growth Rate Market Cap Weighted Average 7.7%
Italy Luxury Industry Revenue Growth Rate Market Cap Weighted Average 6%
Italy Market Earnings Growth Rate Market Cap Weighted Average 9.9%
Italy Market Revenue Growth Rate Market Cap Weighted Average 3.7%

*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:LUX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:LUX Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 10,159 1,191 1
2020-12-31 9,858 1,636 1,097 6
2019-12-31 9,434 1,589 1,026 9
2018-12-31 8,955 1,545 938 7
BIT:LUX Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 8,778 1,555 1,007
2018-03-31 8,968 1,579 1,023
2017-12-31 9,157 1,603 1,038
2017-09-30 9,235 1,461 987
2017-06-30 9,298 1,318 934
2017-03-31 9,192 1,315 891
2016-12-31 9,086 1,311 848
2016-09-30 8,917 1,177 761
2016-06-30 8,889 1,387 775
2016-03-31 8,986 1,436 832
2015-12-31 8,837 1,197 804
2015-09-30 8,689 1,255 792

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Luxottica Group's earnings are expected to grow by 6.6% yearly, however this is not considered high growth (20% yearly).
  • Luxottica Group's revenue is expected to grow by 4.6% 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:LUX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Luxottica Group Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:LUX Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.49 2.49 2.49 1.00
2020-12-31 2.28 2.34 2.23 5.00
2019-12-31 2.14 2.25 2.01 8.00
2018-12-31 1.96 1.98 1.93 5.00
BIT:LUX Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 2.10
2018-03-31 2.14
2017-12-31 2.17
2017-09-30 2.06
2017-06-30 1.96
2017-03-31 1.86
2016-12-31 1.77
2016-09-30 1.59
2016-06-30 1.61
2016-03-31 1.73
2015-12-31 1.68
2015-09-30 1.65

*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.
  • Luxottica Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Luxottica Group'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 Italy 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.
Luxottica Group has a total score of 2/6, 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.

LUX Past Performance

  How has Luxottica Group performed over the past 5 years?

  • Luxottica Group's last earnings update was 222 days ago.
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 Luxottica Group's growth in the last year to its industry (Luxury).
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.
  • Luxottica Group's year on year earnings growth rate has been positive over the past 5 years.
  • Luxottica Group's 1-year earnings growth is less than its 5-year average (7.7% vs 13.5%)
  • Luxottica Group's earnings growth has not exceeded the IT Luxury industry average in the past year (7.7% vs 33.1%).
Earnings and Revenue History
Luxottica Group'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 Luxottica Group Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:LUX Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 8,778.21 1,006.60 4,167.23
2018-03-31 8,967.75 1,022.52 4,246.84
2017-12-31 9,157.29 1,038.45 4,326.45
2017-09-30 9,234.75 986.68 4,387.28
2017-06-30 9,297.91 934.50 4,428.88
2017-03-31 9,191.81 891.32 4,388.99
2016-12-31 9,085.71 848.14 4,349.11
2016-09-30 8,917.46 761.26 4,350.61
2016-06-30 8,889.29 774.69 4,330.77
2016-03-31 8,986.44 831.58 4,391.90
2015-12-31 8,836.58 804.12 4,390.37
2015-09-30 8,688.72 792.38 4,290.62
2015-06-30 8,416.72 755.17 4,311.62
2015-03-31 8,019.83 695.65 3,957.83
2014-12-31 7,652.32 642.60 3,900.02
2014-09-30 7,431.17 580.92 3,608.32
2014-06-30 7,333.20 566.04 3,553.84
2014-03-31 7,290.83 542.79 3,558.78
2013-12-31 7,312.61 544.70 3,723.93
2013-09-30 7,299.02 593.70 3,559.56
2013-06-30 7,297.51 582.88 3,581.41
2013-03-31 7,162.09 564.63 3,548.60
2012-12-31 7,086.14 534.38 3,535.26
2012-09-30 6,962.87 523.81 3,498.98
2012-06-30 6,703.20 498.25 3,365.83
2012-03-31 6,454.55 466.63 3,240.68

*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.
  • Luxottica Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Luxottica Group used its assets more efficiently than the IT Luxury industry average last year based on Return on Assets.
  • Luxottica Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Luxottica Group'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 Luxury 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.
Luxottica Group has a total score of 2/6, 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.

LUX Health

 How is Luxottica Group'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 Luxottica Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Luxottica Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Luxottica Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Luxottica Group'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 covered by short term assets, assets are 1.7x 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 Luxottica Group Company Filings, last reported 8 months ago.

BIT:LUX Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 5,932.98 1,889.33 1,032.44
2018-03-31 5,932.98 1,889.33 1,032.44
2017-12-31 5,806.55 1,902.59 1,203.30
2017-09-30 5,806.55 1,902.59 1,203.30
2017-06-30 5,578.60 1,977.08 901.28
2017-03-31 5,578.60 1,977.08 901.28
2016-12-31 5,781.99 2,046.71 922.15
2016-09-30 5,781.99 2,046.71 922.15
2016-06-30 5,282.07 1,885.74 808.44
2016-03-31 5,282.07 1,885.74 808.44
2015-12-31 5,417.72 1,872.61 918.75
2015-09-30 5,157.52 2,366.22 1,355.86
2015-06-30 5,100.20 2,491.25 1,081.42
2015-03-31 5,594.20 2,507.50 1,533.60
2014-12-31 4,928.78 2,470.88 1,501.07
2014-09-30 4,772.09 2,426.42 1,331.19
2014-06-30 4,361.37 2,614.84 1,217.22
2014-03-31 4,327.61 2,580.36 1,179.31
2013-12-31 4,149.94 2,080.90 654.06
2013-09-30 4,226.80 2,110.36 562.20
2013-06-30 4,157.70 2,267.59 405.08
2013-03-31 4,335.94 2,398.39 612.18
2012-12-31 3,993.24 2,452.90 819.64
2012-09-30 3,947.03 2,913.67 1,061.46
2012-06-30 3,851.20 3,303.70 1,182.96
2012-03-31 3,721.00 3,329.59 1,316.12
  • Luxottica Group's level of debt (31.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (54.5% vs 31.8% today).
  • Debt is well covered by operating cash flow (82.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 30.6x coverage).
X
Financial health checks
We assess Luxottica Group'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. Luxottica Group has a total score of 6/6, 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.

LUX Dividends

 What is Luxottica Group'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
2.06%
Current annual income from Luxottica Group dividends. Estimated to be 2.41% next year.
If you bought €2,000 of Luxottica Group shares you are expected to receive €41 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?
  • Luxottica Group's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (2.05%).
  • Luxottica Group's dividend is below the markets top 25% of dividend payers in Italy (4.13%).
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:LUX 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 9 Analyst Estimates (S&P Global) See Below
Italy Luxury Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 1.7%
Italy Market Average Dividend Yield Market Cap Weighted Average of 173 Stocks 4.1%
Italy Minimum Threshold Dividend Yield 10th Percentile 1.1%
Italy Bottom 25% Dividend Yield 25th Percentile 2%
Italy Top 25% Dividend Yield 75th Percentile 4.1%

Industry and Market average data is calculated daily.

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

BIT:LUX Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.16 1.00
2020-12-31 1.12 6.00
2019-12-31 1.22 10.00
2018-12-31 0.98 10.00
BIT:LUX Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-04-19 1.010 1.871
2017-03-24 0.920 1.827
2016-03-01 0.890 1.894
2015-03-13 0.720 1.202
2014-04-04 0.650 1.515
2014-02-27 0.650 1.620
2013-04-29 0.580 1.477
2012-08-02 0.490 1.540
2012-02-29 0.490 1.817
2011-02-28 0.440 2.022
2010-04-29 0.350 1.700
2009-12-22 0.000 0.000
2009-10-29 0.000 0.000
2009-08-26 0.000 0.000
2009-07-28 0.000 0.000
2009-06-26 0.000 0.000
2009-05-07 0.000 0.000
2009-04-29 0.000 0.000
2009-03-06 0.490 4.187

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Luxottica Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Luxottica Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Luxottica Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Luxottica Group has a total score of 5/6, see the detailed checks below.


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

LUX Management

 What is the CEO of Luxottica Group'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
Francesco Milleri
COMPENSATION €916,666
AGE 59
TENURE AS CEO 1.3 years
CEO Bio

Mr. Francesco Milleri serves as Chairman of Salmoiraghi & Viganò. Mr. Milleri has been a Deputy Chairman of Luxottica Group SpA since April 29, 2016 and its Director since March 1, 2016 and also has been its Chief Executive Officer since December 15, 2017. He is Non-Independent Director of EssilorLuxottica Société anonyme since October 1, 2018. He began his career as a business consultant for Italian groups and multinationals. He gained international experience working in a variety of industries, from mechanics to consumer goods, from financial institutions to pharmaceuticals. Alongside business consulting activities, he founded and leads a group of companies focused on technology and digital automation platforms. Mr. Milleri began his career in 1988 as a business consultant for Italian companies and multinational corporations. For more than 20 years, he gained international experience working in a variety of industries, including mechanics, consumer goods, financial institutions and pharmaceuticals. Alongside his business consulting activities, in 2000. Mr. Milleri graduated in Law at the University of Florence in 1983, where he worked as Assistant Professor of political economy from 1984 to 1986. He later earned an MBA in Business Administration with high merit at the school of management at the Bocconi University in Milan n 1987, followed by two years of specialization in Corporate Finance at the Stern School of Business at New York University as the assignee of the Donato Menichella scholarship from Banca d’Italia.

CEO Compensation
  • Insufficient data for Francesco to compare compensation growth.
  • Francesco's remuneration is higher than average for companies of similar size in Italy.
Management Team Tenure

Average tenure and age of the Luxottica Group management team in years:

4.4
Average Tenure
53.5
Average Age
  • The tenure for the Luxottica Group management team is about average.
Management Team

Leonardo Del Vecchio

TITLE
Founder & Executive Chairman
COMPENSATION
€1M
AGE
83
TENURE
58.2 yrs

Francesco Milleri

TITLE
Deputy Chairman & CEO
COMPENSATION
€917K
AGE
59
TENURE
1.3 yrs

Luigi Francavilla

TITLE
Deputy Chairman
COMPENSATION
€158K
AGE
81

Stefano Grassi

TITLE
CFO & Executive Director
AGE
45
TENURE
4.4 yrs

Giorgio Striano

TITLE
Chief Operating Officer
AGE
47
TENURE
2.4 yrs

Alessandra Senici

TITLE
Group Investor Relations & Corporate Communications Director
AGE
50
TENURE
11.8 yrs

PierGiorgio Angeli

TITLE
Group Human Resources & Internal Communications Officer
AGE
57
TENURE
3 yrs

Paolo Alberti

TITLE
President of Wholesale
AGE
55

Lukas Reucker

TITLE
President of EyeMed Vision Care
AGE
52
TENURE
6.2 yrs

Antonio Miyakawa

TITLE
Senior Advisor of Partnerships
AGE
51
Board of Directors Tenure

Average tenure and age of the Luxottica Group board of directors in years:

3.9
Average Tenure
61
Average Age
  • The tenure for the Luxottica Group board of directors is about average.
Board of Directors

Francesco Milleri

TITLE
Deputy Chairman & CEO
COMPENSATION
€917K
AGE
59
TENURE
2.9 yrs

Luigi Francavilla

TITLE
Deputy Chairman
COMPENSATION
€158K
AGE
81
TENURE
28.2 yrs

Stefano Grassi

TITLE
CFO & Executive Director
AGE
45
TENURE
1.3 yrs

Elisabetta Magistretti

TITLE
Independent Non-Executive Director
COMPENSATION
€140K
AGE
71
TENURE
6.9 yrs

Leonardo Del Vecchio

TITLE
Founder & Executive Chairman
COMPENSATION
€1M
AGE
83
TENURE
58.2 yrs

Andrea Zappia

TITLE
Independent Non Executive Director
COMPENSATION
€130K
AGE
55
TENURE
3.9 yrs

Giovanni Fiori

TITLE
Chairman of the Board of Statutory Auditors
AGE
57
TENURE
0.9 yrs

Luciano Santel

TITLE
Independent Director
COMPENSATION
€135K
AGE
62
TENURE
3.9 yrs

Maria Pierdicchi

TITLE
Independent Non Executive Director
COMPENSATION
€100K
AGE
61
TENURE
3.9 yrs

Karl Salzburger

TITLE
Independent Non Executive Director
COMPENSATION
€100K
AGE
61
TENURE
3.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Luxottica Group'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. Luxottica Group 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.

LUX News

Simply Wall St News

Is Luxottica Group S.p.A.'s (BIT:LUX) 17% Better Than Average?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Luxottica Group S.p.A. … That means that for every €1 worth of shareholders' equity, it generated €0.17 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Does Luxottica Group SpA's (BIT:LUX) Earnings Growth Stack Up Against The Industry?

Below, I will assess Luxottica Group SpA's (BIT:LUX) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … Check out our latest analysis for Luxottica Group? … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 13%, indicating the rate at which LUX is growing has slowed down

Simply Wall St -

Luxottica Group SpA (BIT:LUX): An Investing Strategy To Help You Win

This is the best time to buy stocks like Luxottica Group SpA at a discount. … See our latest analysis for Luxottica Group. … Luxottica Group S.p.A., together with its subsidiaries, provides fashion, luxury, sports, and performance eyewear worldwide

Simply Wall St -

Why Luxottica Group SpA's (BIT:LUX) Ownership Structure Is Important

In this article, I will take a quick look at Luxottica Group SpA’s (BIT:LUX) recent ownership structure – an unconventional investing subject, but an important one. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment. … BIT:LUX Ownership Summary August 13th 18

Simply Wall St -

Have You Considered This Before Investing In Luxottica Group SpA (BIT:LUX)?

If you are currently a shareholder in Luxottica Group SpA (BIT:LUX), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … I’ve analysed below, the health and outlook of Luxottica Group’s cash flow, which will help you understand the stock from a cash standpoint. … Luxottica Group generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating.

Simply Wall St -

What You Must Know About Luxottica Group SpA's (BIT:LUX) Financial Health

Common characteristics for these big stocks are their strong balance sheet and high liquidity, which means there's plenty of stocks available to the public for trading. … These companies are resilient in times of low liquidity and are relatively unimpacted by interest rate hikes. … Today I will analyse the latest financial data for LUX to determine is solvency and liquidity and whether the stock is a sound investment.

Simply Wall St -

Is Luxottica Group SpA (BIT:LUX) An Attractive Dividend Stock?

Luxottica Group SpA (BIT:LUX) has returned to shareholders over the past 10 years, an average dividend yield of 1.00% annually. … Let's dig deeper into whether Luxottica Group should have a place in your portfolio. … See our latest analysis for Luxottica Group

Simply Wall St -

Is It Time To Sell Luxottica Group SpA (BIT:LUX) Based Off Its PE Ratio?

The current price of LUX places the company at a fair trailing PE of 25.35x,. … But should this fair multiple be the final verdict of LUX’s fair valuation. … In this article, I am going to take you through some key things to consider in order to identify which multiple is the most relevant for

Simply Wall St -

Will Luxottica Group SpA's (BIT:LUX) Earnings Grow Over The Next Few Years?

Luxottica Group SpA's (BIT:LUX) most recent earnings update in December 2017a … revealed

Simply Wall St -

A Holistic Look At Luxottica Group SpA (BIT:LUX)

Luxottica Group SpA (BIT:LUX) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the following section, I expand a bit more on these key aspects.

Simply Wall St -

LUX Company Info

Map
Description

Luxottica Group S.p.A., together with its subsidiaries, provides fashion, luxury, sports, and performance eyewear worldwide. It operates through two segments, Manufacturing and Wholesale Distribution, and Retail Distribution. The Manufacturing and Wholesale Distribution segment engages in the design, manufacture, distribution, and marketing of proprietary and designer lines of prescription frames and sunglasses. This segment offers its products under proprietary brands, such as Ray-Ban, Oakley, Persol, Oliver Peoples, Alain Mikli, Arnette, and Vogue Eyewear; and licensed brands, including Giorgio Armani, Emporio Armani, Armani Exchange, Brooks Brothers, Burberry, Bulgari, Chanel, Coach, Dolce&Gabbana, DKNY, Michael Kors, Paul Smith Spectacles, Prada, Miu Miu, Ralph Lauren, Polo Ralph Lauren, Ralph, Starck Eyes, Tiffany & Co, Tory Burch, Valentino, Versace, and Ferrari. The Retail Distribution segment operates prescription eyewear stores primarily under its retail brands, including LensCrafters, Sunglass Hut, Pearle Vision, OPSM, Laubman & Pank, GMO, David Clulow, Salmoiraghi & Viganò, Ray-Ban, Oakley and Vault, Oliver Peoples, Alain Mikli, Ilori Optical, and Optical Shop of Aspen; and licensed brands, such as Sears Optical and Target Optical. As of December 31, 2017, it operated approximately 9,000 stores. The company was founded in 1961 and is headquartered in Milan, Italy. As of October 1, 2018, Luxottica Group S.p.A. operates as a subsidiary of EssilorLuxottica.

Details
Name: Luxottica Group S.p.A.
LUX
Exchange: BIT
Founded: 1961
€23,477,032,439
479,123,111
Website: http://www.luxottica.com
Address: Luxottica Group S.p.A.
Piazzale Luigi Cadorna 3,
Milan,
Milan, 20123,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT LUX Ordinary Shares Borsa Italiana IT EUR 04. Dec 2000
OTCPK LUXG.F Ordinary Shares Pink Sheets LLC US USD 04. Dec 2000
DB LUXA Ordinary Shares Deutsche Boerse AG DE EUR 04. Dec 2000
LSE 0ND7 Ordinary Shares London Stock Exchange GB EUR 04. Dec 2000
WBAG LUX Ordinary Shares Wiener Boerse AG AT EUR 04. Dec 2000
BMV LUX N Ordinary Shares Bolsa Mexicana de Valores MX MXN 04. Dec 2000
BATS-CHIXE LUXM Ordinary Shares BATS 'Chi-X Europe' GB EUR 04. Dec 2000
OTCPK LUXT.Y ADR-EACH CNV INTO 1 ORD EUR0.06(BNY) Pink Sheets LLC US USD 24. Jan 1990
DB LUX ADR-EACH CNV INTO 1 ORD EUR0.06(BNY) Deutsche Boerse AG DE EUR 24. Jan 1990
BST LUX ADR-EACH CNV INTO 1 ORD EUR0.06(BNY) Boerse-Stuttgart DE EUR 24. Jan 1990
Number of employees
Current staff
Staff numbers
70,886
Luxottica Group employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/05 20:50
End of day share price update: 2019/03/01 00:00
Last estimates confirmation: 2019/03/05
Last earnings filing: 2018/07/26
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.