BIT:MONC

Stock Analysis Report

Executive Summary

Moncler S.p.A. 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.

Snowflake

Fundamentals

Flawless balance sheet with outstanding 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

-1.8%

MONC

0.6%

IT Luxury

0.4%

IT Market


1 Year Return

18.6%

MONC

3.2%

IT Luxury

18.9%

IT Market

Return vs Industry: MONC exceeded the Italian Luxury industry which returned 3.2% over the past year.

Return vs Market: MONC matched the Italian Market which returned 18.9% over the past year.


Shareholder returns

MONCIndustryMarket
7 Day-1.8%0.6%0.4%
30 Day7.0%6.6%4.6%
90 Day7.6%6.6%13.1%
1 Year19.9%18.6%5.6%3.2%24.3%18.9%
3 Year148.5%142.0%33.5%21.0%40.9%20.9%
5 Year231.6%217.7%42.1%23.1%28.1%-21.7%

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?

26.82x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MONC (€36.44) is trading above our estimate of fair value (€20.52)

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 (26.8x) compared to the Luxury industry average (17.1x).

PE vs Market: MONC is poor value based on its PE Ratio (26.8x) compared to the Italian market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: MONC is poor value based on its PEG Ratio (4x)


Price to Book Ratio

PB vs Industry: MONC is overvalued based on its PB Ratio (9.1x) compared to the IT Luxury industry average (1.5x).


Next Steps

Future Growth

How is Moncler forecast to perform in the next 1 to 3 years based on estimates from 21 analysts?

6.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MONC's forecast earnings growth (6.6% per year) is above the savings rate (2.9%).

Earnings vs Market: MONC's earnings (6.6% per year) are forecast to grow slower than the Italian market (9% per year).

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

Revenue vs Market: MONC's revenue (9.5% per year) is forecast to grow faster than the Italian market (3% per year).

High Growth Revenue: MONC's revenue (9.5% 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 (21.5%)


Next Steps

Past Performance

How has Moncler performed over the past 5 years?

22.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MONC has high quality earnings.

Growing Profit Margin: MONC's current net profit margins (22.8%) are higher than last year (21.1%).


Past Earnings Growth Analysis

Earnings Trend: MONC's earnings have grown significantly by 22.7% per year over the past 5 years.

Accelerating Growth: MONC's earnings growth over the past year (26.4%) exceeds its 5-year average (22.7% per year).

Earnings vs Industry: MONC earnings growth over the past year (26.4%) exceeded the Luxury industry -6.6%.


Return on Equity

High ROE: MONC's Return on Equity (33.9%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Moncler's financial position?


Financial Position Analysis

Short Term Liabilities: MONC's short term assets (€848.3M) exceeds its short term liabilities (€476.1M)

Long Term Liabilities: MONC's short term assets (848.3M) exceeds its long term liabilities (633.6M)


Debt to Equity History and Analysis

Debt Level: MONC's debt to equity ratio (9.6%) is considered satisfactory

Reducing Debt: MONC's debt to equity ratio has reduced from 96.3% to 9.6% over the past 5 years.

Debt Coverage: MONC's debt is well covered by operating cash flow (547%).

Interest Coverage: MONC's interest payments on its debt are well covered by EBIT (42.8x coverage).


Balance Sheet

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

Debt Coverage by Assets: MONC's debt is covered by short term assets (assets are 8.8x debt).


Next Steps

Dividend

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

1.10%

Current Dividend Yield


Dividend Yield vs Market

company1.1%marketbottom25%2.0%markettop25%4.4%industryaverage1.5%forecastin3Years1.4%

Current dividend yield vs market & industry

Notable Dividend: MONC's dividend (1.1%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.98%).

High Dividend: MONC's dividend (1.1%) is low compared to the top 25% of dividend payers in the Italian market (4.37%).


Stability and Growth of Payments

Stable Dividend: MONC is not paying a notable dividend for the Italian market, therefore no need to check if payments are stable.

Growing Dividend: MONC is not paying a notable dividend for the Italian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MONC's dividend in 3 years as they are not forecast to pay a notable one for the Italian market.


Next Steps

Management

What is the CEO of Moncler's salary, the management and board of directors tenure and is there insider trading?

6.3yrs

Average management tenure


CEO

Remo Ruffini (58yo)

16.8yrs

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 ($USD0.00) is below average for companies of similar size in the Italian market ($USD841.83K).

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


Management Age and Tenure

6.3yrs

Average Tenure

58yo

Average Age

Experienced Management: MONC's management team is seasoned and experienced (6.3 years average tenure).


Board Age and Tenure

4.3yrs

Average Tenure

57.5yo

Average Age

Experienced Board: MONC's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Sell€3,492,90110 Apr 19
Ruffini Partecipazioni Srl
EntityCompany
Shares93,744
Max Price€37.26
Sell€003 Apr 19
Ruffini Partecipazioni Srl
EntityCompany
Shares70,560
Max Price€36.79

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Paola Durante

    Investor Relations & Strategic Planning Director

    • Tenure: 0yrs
  • Luciano Santel (63yo)

    Executive Director

    • Tenure: 3.6yrs
  • Remo Ruffini (58yo)

    Chairman & CEO

    • Tenure: 16.8yrs
    • Compensation: €3.97m
  • Andrea Tieghi

    Senior Director of Retail & Business Development

    • Tenure: 6.3yrs
    • Compensation: €455.00k
  • Roberto Eggs (54yo)

    Chief Marketing and Operating Officer & Executive Director

    • Tenure: 0.6yrs

Board Members

  • Marco De Benedetti (57yo)

    Vice-Chairman & Lead Independent Director

    • Tenure: 0.6yrs
    • Compensation: €32.00k
  • Gabriele di Genola e Suniglia (72yo)

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: €50.00k
  • Diva Moriani (51yo)

    Independent Director

    • Tenure: 4.9yrs
    • Compensation: €32.00k
  • Nerio Alessandri (58yo)

    Independent Director

    • Tenure: 5.9yrs
    • Compensation: €50.00k
  • Virginie Sarah Morgon (50yo)

    Director

    • Tenure: 8.8yrs
    • Compensation: €22.00k
  • Stephanie Phair

    Independent Director

    • Tenure: 3.6yrs
  • Luciano Santel (63yo)

    Executive Director

    • Tenure: 3.6yrs
  • Remo Ruffini (58yo)

    Chairman & CEO

    • Tenure: 16.8yrs
    • Compensation: €3.97m
  • Roberto Eggs (54yo)

    Chief Marketing and Operating Officer & Executive Director

    • Tenure: 0.6yrs
  • Riccardo Losi

    Chairman of the Board of Statutory Auditors

    • Tenure: 2.6yrs

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: €9.194b
  • Shares outstanding: 252.30m
  • Website: https://www.monclergroup.com

Number of Employees


Location

  • Moncler S.p.A.
  • Via Venezia, 1
  • Trebaseleghe
  • Padova
  • 35010
  • 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. 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, Asi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/14 21:43
End of Day Share Price2019/11/14 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.