BIT:SAB

Stock Analysis Report

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Executive Summary

Sabaf S.p.A. designs, manufactures, and sells components for household cooking appliances.


Snowflake Analysis

Adequate balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

3.7%

SAB

-0.3%

IT Consumer Durables

3.3%

IT Market


1 Year Return

-6.3%

SAB

47.5%

IT Consumer Durables

-3.2%

IT Market

Return vs Industry: SAB underperformed the Italian Consumer Durables industry which returned 47.5% over the past year.

Return vs Market: SAB underperformed the Italian Market which returned -3.2% over the past year.


Shareholder returns

SABIndustryMarket
7 Day3.7%-0.3%3.3%
30 Day11.1%9.8%0.07%
90 Day24.9%51.8%17.4%
1 Year-6.3%-6.3%47.5%47.5%-0.7%-3.2%
3 Year-14.5%-20.1%10.0%3.7%-3.6%-12.4%
5 Year21.3%4.6%38.8%23.9%1.9%-30.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

13.85x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SAB (€12.55) is trading above our estimate of fair value (€4.15)

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


Price To Earnings Ratio

PE vs Industry: SAB is poor value based on its PE Ratio (13.9x) compared to the IT Consumer Durables industry average (12.7x).

PE vs Market: SAB is good value based on its PE Ratio (13.9x) compared to the Italian market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: SAB is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: SAB is good value based on its PB Ratio (1.3x) compared to the IT Consumer Durables industry average (1.7x).


Next Steps

Future Growth

How is Sabaf forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

18.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAB's forecast earnings growth (18.8% per year) is above the savings rate (2%).

Earnings vs Market: SAB's earnings (18.8% per year) are forecast to grow slower than the Italian market (25.8% per year).

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

Revenue vs Market: SAB's revenue (5.2% per year) is forecast to grow slower than the Italian market (5.4% per year).

High Growth Revenue: SAB's revenue (5.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SAB's Return on Equity is forecast to be low in 3 years time (9.4%).


Next Steps

  • Explore growth companies in the Consumer Durables industry.

Past Performance

How has Sabaf performed over the past 5 years?

6.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SAB has high quality earnings.

Growing Profit Margin: SAB's current net profit margins (5.8%) are lower than last year (8%).


Past Earnings Growth Analysis

Earnings Trend: SAB's earnings have grown by 6.4% per year over the past 5 years.

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

Earnings vs Industry: SAB had negative earnings growth (-22.5%) over the past year, making it difficult to compare to the Consumer Durables industry average (0.7%).


Return on Equity

High ROE: SAB's Return on Equity (7.9%) is considered low.


Next Steps

Financial Health

How is Sabaf's financial position?


Financial Position Analysis

Short Term Liabilities: SAB's short term assets (€103.4M) exceed its short term liabilities (€71.0M).

Long Term Liabilities: SAB's short term assets (€103.4M) exceed its long term liabilities (€51.0M).


Debt to Equity History and Analysis

Debt Level: SAB's debt to equity ratio (58.9%) is considered high.

Reducing Debt: SAB's debt to equity ratio has increased from 27.7% to 58.9% over the past 5 years.

Debt Coverage: SAB's debt is well covered by operating cash flow (46.3%).

Interest Coverage: SAB earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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

2.79%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SAB's dividend (2.79%) is higher than the bottom 25% of dividend payers in the Italian market (1.8%).

High Dividend: SAB's dividend (2.79%) is low compared to the top 25% of dividend payers in the Italian market (4.87%).


Stability and Growth of Payments

Stable Dividend: SAB's dividend payments have been volatile in the past 10 years.

Growing Dividend: SAB's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: SAB's dividends in 3 years are forecast to be covered by earnings (53.3% payout ratio).


Next Steps

Management

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

2.3yrs

Average management tenure


CEO

Pietro Iotti

2.92yrs

Tenure

€413,197

Compensation

Mr. Pietro Iotti has been Chief Executive Officer of Sabaf S.p.A. since September 12, 2017 and Director since July 20, 2017. He has served as General Manager at Sabaf SpA since September 12, 2017. He is a ...


CEO Compensation Analysis

Compensation vs Market: Pietro's total compensation ($USD488.87K) is about average for companies of similar size in the Italian market ($USD678.16K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Pietro Iotti
CEO & Director2.92yrs€413.20k0.18%
€ 257.3k
Gianluca Beschi
Financial Reporting Officer8.25yrs€193.03kno data
Massimo Dora
Technical Directorno datano datano data
Laura Ipogino
Global Group HR Director1.75yrsno datano data
Giuseppe Garzillo
Partner1.17yrsno datano data

2.3yrs

Average Tenure

Experienced Management: SAB's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Pietro Iotti
CEO & Director2.92yrs€413.20k0.18%
€ 257.3k
Gianluca Beschi
Financial Reporting Officer8.25yrs€193.03kno data
Giuseppe Saleri
Chairman of the Board8.58yrs€160.00kno data
Daniela Toscani
Independent Director2.25yrs€54.00k0.026%
€ 36.6k
Nicla Picchi
Independent Vice Chairmanno data€67.00kno data
Luisa Anselmi
Statutory Auditorno data€16.00kno data
Alessandro Potestà
Non-Executive Director4.25yrs€41.00kno data
Giorgio Vivenzi
Standing Auditorno datano data0.0053%
€ 7.5k
Claudio Bulgarelli
Non-Executive Director2.25yrs€25.00k0.010%
€ 14.1k
Stefania Triva
Independent Director2.25yrs€40.00kno data
Carlo Scarpa
Independent Director1.58yrs€40.00kno data
Alessandra Tronconi
Chairman of Board of Statutory Auditorsno datano datano data

2.7yrs

Average Tenure

57yo

Average Age

Experienced Board: SAB's board of directors are not considered experienced ( 2.7 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: SAB insiders have bought more shares than they have sold 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

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


Key Information

  • Name: Sabaf S.p.A.
  • Ticker: SAB
  • Exchange: BIT
  • Founded: 1950
  • Industry: Household Appliances
  • Sector: Consumer Durables
  • Market Cap: €140.995m
  • Shares outstanding: 11.23m
  • Website: https://www.sabaf.it

Number of Employees


Location

  • Sabaf S.p.A.
  • Via dei Carpini, 1
  • Ospitaletto
  • Brescia
  • 25035
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SABBIT (Borsa Italiana)YesOrdinary SharesITEURMar 1998
SM5BST (Boerse-Stuttgart)YesOrdinary SharesDEEURMar 1998
0NIGLSE (London Stock Exchange)YesOrdinary SharesGBEURMar 1998
SABMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMar 1998

Biography

Sabaf S.p.A. designs, manufactures, and sells components for household cooking appliances. It operates through Gas Parts, Hinges, and Electronic Components segments. The company offers taps with or without ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/15 04:26
End of Day Share Price2020/08/14 00:00
Earnings2020/06/30
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.