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PTR

Pattern BIT:PTR Stock Report

Last Price

€5.72

Market Cap

€81.6m

7D

2.5%

1Y

22.5%

Updated

04 Jul, 2022

Data

Company Financials +
PTR fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance4/6
Financial Health4/6
Dividends2/6

PTR Stock Overview

Pattern S.p.A. engages in the design and production of garments for women and men in Italy and internationally.

Rewards

Trading at 45.6% below our estimate of its fair value

Earnings are forecast to grow 28.49% per year

Earnings have grown 0.2% per year over the past 5 years

Risk Analysis

Significant insider selling over the past 3 months

Does not have a meaningful market cap (€82M)


Pattern Competitors

Piquadro

BIT:PQ

€92.0m

Fope

BIT:FPE

€126.4m

Aeffe

BIT:AEF

€143.4m

COVER 50

BIT:COV

€35.6m

Price History & Performance

Summary of all time highs, changes and price drops for Pattern
Historical stock prices
Current Share Price€5.72
52 Week High€6.94
52 Week Low€4.44
Beta0.61
1 Month Change-1.04%
3 Month Change2.51%
1 Year Change22.48%
3 Year Changen/a
5 Year Changen/a
Change since IPO52.53%

Recent News & Updates

Shareholder Returns

PTRIT LuxuryIT Market
7D2.5%-1.0%-2.7%
1Y22.5%-26.2%-17.1%

Return vs Industry: PTR exceeded the Italian Luxury industry which returned -26.2% over the past year.

Return vs Market: PTR exceeded the Italian Market which returned -17.1% over the past year.

Price Volatility

Is PTR's price volatile compared to industry and market?
PTR volatility
PTR Average Weekly Movement4.2%
Luxury Industry Average Movement5.6%
Market Average Movement5.1%
10% most volatile stocks in IT Market7.4%
10% least volatile stocks in IT Market3.3%

Stable Share Price: PTR is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PTR's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2000379Luca Sburlatihttps://www.pattern.it

Pattern S.p.A. engages in the design and production of garments for women and men in Italy and internationally. It offers outerwear, sportswear, jersey, knitwear, and leather goods. The company was founded in 2000 and is based in Collegno, Italy.

Pattern Fundamentals Summary

How do Pattern's earnings and revenue compare to its market cap?
PTR fundamental statistics
Market Cap€81.58m
Earnings (TTM)€3.00m
Revenue (TTM)€69.55m

27.2x

P/E Ratio

1.2x

P/S Ratio

Is PTR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PTR income statement (TTM)
Revenue€69.55m
Cost of Revenue€45.56m
Gross Profit€23.99m
Other Expenses€20.99m
Earnings€3.00m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.21
Gross Margin34.50%
Net Profit Margin4.31%
Debt/Equity Ratio78.5%

How did PTR perform over the long term?

See historical performance and comparison

Dividends

1.2%

Current Dividend Yield

34%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is PTR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PTR?

Other financial metrics that can be useful for relative valuation.

PTR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA11x
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does PTR's PE Ratio compare to its peers?

PTR PE Ratio vs Peers
The above table shows the PE ratio for PTR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average17.1x
PQ Piquadro
20.7xn/a€92.0m
FPE Fope
25.3x9.5%€126.4m
AEF Aeffe
8.3x7.0%€143.4m
COV COVER 50
14.1xn/a€35.6m
PTR Pattern
27.2x28.5%€81.6m

Price-To-Earnings vs Peers: PTR is expensive based on its Price-To-Earnings Ratio (27.2x) compared to the peer average (17.1x).

Price to Earnings Ratio vs Industry

How does PTR's PE Ratio compare vs other companies in the European Luxury Industry?

Price-To-Earnings vs Industry: PTR is expensive based on its Price-To-Earnings Ratio (27.2x) compared to the Italian Luxury industry average (22.2x)

Price to Earnings Ratio vs Fair Ratio

What is PTR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PTR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.2x
Fair PE Ratio18.3x

Price-To-Earnings vs Fair Ratio: PTR is expensive based on its Price-To-Earnings Ratio (27.2x) compared to the estimated Fair Price-To-Earnings Ratio (18.3x).

Share Price vs Fair Value

What is the Fair Price of PTR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PTR (€5.72) is trading below our estimate of fair value (€10.51)

Significantly Below Fair Value: PTR is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: PTR is good value based on its PEG Ratio (1x)

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Future Growth

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

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE

28.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PTR's forecast earnings growth (28.5% per year) is above the savings rate (1.7%).

Earnings vs Market: PTR's earnings (28.5% per year) are forecast to grow faster than the Italian market (10.1% per year).

High Growth Earnings: PTR's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PTR's revenue (17.5% per year) is forecast to grow faster than the Italian market (0.4% per year).

High Growth Revenue: PTR's revenue (17.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PTR's Return on Equity is forecast to be high in 3 years time (22.2%)

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Past Performance

How has Pattern performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE

0.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PTR has high quality earnings.

Growing Profit Margin: PTR's current net profit margins (4.3%) are higher than last year (4.3%).

Past Earnings Growth Analysis

Earnings Trend: PTR's earnings have grown by 0.2% per year over the past 5 years.

Accelerating Growth: PTR's earnings growth over the past year (32.1%) exceeds its 5-year average (0.2% per year).

Earnings vs Industry: PTR earnings growth over the past year (32.1%) underperformed the Luxury industry 47.9%.

Return on Equity

High ROE: PTR's Return on Equity (14.6%) is considered low.

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Financial Health

How is Pattern's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PTR's short term assets (€52.2M) exceed its short term liabilities (€26.6M).

Long Term Liabilities: PTR's short term assets (€52.2M) exceed its long term liabilities (€18.9M).

Debt to Equity History and Analysis

Debt Level: PTR has more cash than its total debt.

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

Debt Coverage: PTR's debt is not well covered by operating cash flow (14.4%).

Interest Coverage: PTR's interest payments on its debt are well covered by EBIT (55x coverage).

Balance Sheet

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Dividend

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

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

1.24%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PTR's dividend (1.24%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.73%).

High Dividend: PTR's dividend (1.24%) is low compared to the top 25% of dividend payers in the Italian market (5.16%).

Stability and Growth of Payments

Stable Dividend: PTR has been paying a dividend for less than 10 years and during this time payments have been volatile.

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

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (33.8%), PTR's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (58.6%), PTR's dividend payments are covered by cash flows.

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Management

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

0.5yrs

Average board tenure

CEO

Luca Sburlati (52 yo)

no data

Tenure

Mr. Luca Sburlati is the Chief Executive Officer and Director of PATTERN SpA.

Board Members

Experienced Board: PTR's board of directors are not considered experienced ( 0.5 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: PTR insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

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

Top Shareholders

Company Information

Pattern S.p.A.'s employee growth, exchange listings and data sources

Key Information

  • Name: Pattern S.p.A.
  • Ticker: PTR
  • Exchange: BIT
  • Founded: 2000
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Implied Market Cap: €81.584m
  • Shares outstanding: 14.26m
  • Website: https://www.pattern.it

Number of Employees

Location

  • Pattern S.p.A.
  • Via Italia, 6/A
  • Collegno
  • Turin
  • 10093
  • Italy

Listings

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/04 00:00
End of Day Share Price2022/07/04 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.