BIT:MONC

Stock Analysis Report

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Executive Summary

Moncler S.p.A., together with its subsidiaries, designs, produces, and distributes clothing and related accessories for men, women, and children under the Moncler brand name in Italy, other European countries, the Middle East, Africa, Asia, the Americas, and internationally.

Rewards

Earnings are forecast to grow 4.62% per year

Earnings grew by 7.9% over the past year

Risk Analysis

No risks detected for MONC from our risk checks.


Snowflake Analysis

Flawless balance sheet with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

7.1%

MONC

9.2%

IT Luxury

5.2%

IT Market


1 Year Return

1.4%

MONC

-13.9%

IT Luxury

-11.0%

IT Market

Return vs Industry: MONC exceeded the Italian Luxury industry which returned -13.9% over the past year.

Return vs Market: MONC exceeded the Italian Market which returned -11% over the past year.


Shareholder returns

MONCIndustryMarket
7 Day7.1%9.2%5.2%
30 Day-2.5%-1.3%1.8%
90 Day-5.0%-9.6%-16.0%
1 Year1.4%1.4%-13.9%-13.9%-8.7%-11.0%
3 Year58.3%55.4%-14.5%-20.1%-10.1%-18.2%
5 Year105.8%98.5%-13.9%-24.5%-14.4%-43.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

23.48x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MONC (€33.45) is trading above our estimate of fair value (€16.17)

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


Price To Earnings Ratio

PE vs Industry: MONC is poor value based on its PE Ratio (23.5x) compared to the Luxury industry average (20.2x).

PE vs Market: MONC is poor value based on its PE Ratio (23.5x) compared to the Italian market (16.1x).


Price to Earnings Growth Ratio

PEG Ratio: MONC is poor value based on its PEG Ratio (5.1x)


Price to Book Ratio

PB vs Industry: MONC is overvalued based on its PB Ratio (6.5x) compared to the IT Luxury industry average (1x).


Next Steps

Future Growth

How is Moncler forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

4.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MONC's forecast earnings growth (4.6% per year) is above the savings rate (2%).

Earnings vs Market: MONC's earnings (4.6% per year) are forecast to grow slower than the Italian market (24.3% per year).

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

Revenue vs Market: MONC's revenue (6.7% per year) is forecast to grow faster than the Italian market (4% per year).

High Growth Revenue: MONC's revenue (6.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MONC's Return on Equity is forecast to be high in 3 years time (20.2%)


Next Steps

Past Performance

How has Moncler performed over the past 5 years?

21.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MONC has high quality earnings.

Growing Profit Margin: MONC's current net profit margins (22%) are lower than last year (23.4%).


Past Earnings Growth Analysis

Earnings Trend: MONC's earnings have grown significantly by 21.2% per year over the past 5 years.

Accelerating Growth: MONC's earnings growth over the past year (7.9%) is below its 5-year average (21.2% per year).

Earnings vs Industry: MONC earnings growth over the past year (7.9%) exceeded the Luxury industry 5.8%.


Return on Equity

High ROE: MONC's Return on Equity (27.5%) is considered high.


Next Steps

Financial Health

How is Moncler's financial position?


Financial Position Analysis

Short Term Liabilities: MONC's short term assets (€1.2B) exceed its short term liabilities (€561.0M).

Long Term Liabilities: MONC's short term assets (€1.2B) exceed its long term liabilities (€698.1M).


Debt to Equity History and Analysis

Debt Level: MONC's debt to equity ratio (7.6%) is considered satisfactory.

Reducing Debt: MONC's debt to equity ratio has reduced from 55.7% to 7.6% over the past 5 years.

Debt Coverage: MONC's debt is well covered by operating cash flow (591.7%).

Interest Coverage: MONC's interest payments on its debt are well covered by EBIT (24x coverage).


Balance Sheet


Next Steps

Dividend

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

1.64%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: MONC's dividend (1.64%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.99%).

High Dividend: MONC's dividend (1.64%) is low compared to the top 25% of dividend payers in the Italian market (5.24%).


Stability and Growth of Payments

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

Growing Dividend: MONC's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.6%), MONC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MONC's dividends in 3 years are forecast to be well covered by earnings (37.5% payout ratio).


Next Steps

Management

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

6.8yrs

Average management tenure


CEO

Remo Ruffini (58yo)

17.33yrs

Tenure

€3,974,605

Compensation

Mr. Remo Ruffini has been the Chairman and Chief Executive Officer of Moncler S.p.A. since 2003 and has also been its General Manager since January 1, 2015. Mr. Ruffini served as Creative Director of Moncl ...


CEO Compensation Analysis

Compensation vs Market: Remo's total compensation ($USD0.00) is below average for companies of similar size in the Italian market ($USD3.40M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Remo Ruffini
Chairman & CEO17.33yrs€3.97mno data
Roberto Eggs
Chief Marketing and Operating Officer & Executive Director1.08yrsno datano data
Paola Durante
Investor Relations & Strategic Planning Directorno datano datano data
Andrea Tieghi
Senior Director of Retail & Business Development6.83yrs€455.00kno data
Luciano Santel
Executive Director4.08yrsno datano data

6.8yrs

Average Tenure

58yo

Average Age

Experienced Management: MONC's management team is seasoned and experienced (6.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Remo Ruffini
Chairman & CEO17.33yrs€3.97mno data
Roberto Eggs
Chief Marketing and Operating Officer & Executive Director1.08yrsno datano data
Luciano Santel
Executive Director4.08yrsno datano data
Marco De Benedetti
Vice-Chairman & Lead Independent Director1.08yrs€32.00kno data
Gabriele di Genola e Suniglia
Independent Director5.83yrs€50.00kno data
Diva Moriani
Independent Director5.42yrs€32.00kno data
Nerio Alessandri
Independent Director6.42yrs€50.00kno data
Virginie Sarah Morgon
Director9.33yrs€22.00kno data
Stephanie Phair
Independent Director4.08yrsno datano data
Riccardo Losi
Chairman of the Board of Statutory Auditors3.08yrsno datano data

4.8yrs

Average Tenure

57yo

Average Age

Experienced Board: MONC's board of directors are considered experienced (4.8 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Moncler S.p.A.
  • Ticker: MONC
  • Exchange: BIT
  • Founded: 1952
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: €8.451b
  • Shares outstanding: 252.64m
  • Website: https://www.monclergroup.com

Number of Employees


Location

  • Moncler S.p.A.
  • Via Stendhal 47
  • Milan
  • Milan
  • 20144
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MONCBIT (Borsa Italiana)YesOrdinary SharesITEURDec 2013
MOVDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2013
0QIILSE (London Stock Exchange)YesOrdinary SharesGBEURDec 2013
MONCMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 2013
MONR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2013
MONCWBAG (Wiener Boerse AG)YesOrdinary SharesATEURDec 2013
MONC NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNDec 2013
MONR.YOTCPK (Pink Sheets LLC)ADRUSUSDJun 2014

Biography

Moncler S.p.A., together with its subsidiaries, designs, produces, and distributes clothing and related accessories for men, women, and children under the Moncler brand name in Italy, other European countries, the Middle East, Africa, Asia, the Americas, and internationally. The company provides various collections under the Moncler brand name. It also offers footwear; leather goods, such as bags, backpacks, and accessories; and sunglasses and eyeglasses. As of December 31, 2019, the company operated 209 retail directly operated stores and 64 wholesale shop-in-shops. It also sells its products through moncler.com, an online store. The company was formerly known as Moncler S.r.l. and changed its name to Moncler S.p.A. in October 2013. Moncler S.p.A. was founded in 1952 and is headquartered in Milan, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/30 00:02
End of Day Share Price2020/05/29 00:00
Earnings2019/12/31
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.