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Salvatore Ferragamo

BIT:SFER
Snowflake Description

Flawless balance sheet with moderate growth potential.

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

Salvatore Ferragamo S.p.A., through its subsidiaries, creates, produces, and sells luxury goods for men and women worldwide. The last earnings update was 38 days ago. More info.


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SFER Share Price and Events
7 Day Returns
-0.4%
BIT:SFER
-1.6%
IT Luxury
0.5%
IT Market
1 Year Returns
-15.7%
BIT:SFER
-7.8%
IT Luxury
-7.7%
IT Market
SFER Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Salvatore Ferragamo (SFER) -0.4% 4.6% 9.7% -15.7% -5% -13.8%
IT Luxury -1.6% -3.4% 1.3% -7.8% 4.2% 11.1%
IT Market 0.5% 1.3% 8.9% -7.7% -9.5% -35.1%
1 Year Return vs Industry and Market
  • SFER underperformed the Luxury industry which returned -7.8% over the past year.
  • SFER underperformed the Market in Italy which returned -7.7% over the past year.
Price Volatility
SFER
Industry
5yr Volatility vs Market

SFER Value

 Is Salvatore Ferragamo 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 Salvatore Ferragamo 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

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

BIT:SFER Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.4%
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:SFER
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 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.731 (1 + (1- 24%) (1.2%))
0.824
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% + (0.824 * 9.02%)
10.37%

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

The calculations below outline how an intrinsic value for Salvatore Ferragamo 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:SFER DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 10.37%)
2019 98.30 Analyst x11 89.07
2020 112.39 Analyst x12 92.27
2021 124.11 Analyst x9 92.32
2022 137.00 Analyst x2 92.34
2023 163.00 Analyst x1 99.54
2024 178.46 Est @ 9.48% 98.75
2025 191.87 Est @ 7.52% 96.20
2026 203.66 Est @ 6.14% 92.52
2027 214.21 Est @ 5.18% 88.17
2028 223.86 Est @ 4.51% 83.49
Present value of next 10 years cash flows €924.67
BIT:SFER DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €223.86 × (1 + 2.93%) ÷ (10.37% – 2.93%)
€3,100.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €3,100.56 ÷ (1 + 10.37%)10
€1,156.36
BIT:SFER Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €924.67 + €1,156.36
€2,081.03
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,081.03 / 168.74
€12.33
BIT:SFER Discount to Share Price
Calculation Result
Value per share (EUR) From above. €12.33
Current discount Discount to share price of €19.73
= -1 x (€19.73 - €12.33) / €12.33
-60%

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

  • The current share price of Salvatore Ferragamo 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 Salvatore Ferragamo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Salvatore Ferragamo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:SFER PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.52
BIT:SFER Share Price ** BIT (2019-04-18) in EUR €19.73
Italy Luxury Industry PE Ratio Median Figure of 15 Publicly-Listed Luxury Companies 16.32x
Italy Market PE Ratio Median Figure of 242 Publicly-Listed Companies 15.88x

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

** Primary Listing of Salvatore Ferragamo.

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

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

= 19.73 ÷ 0.52

37.69x

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

  • Salvatore Ferragamo is overvalued based on earnings compared to the IT Luxury industry average.
  • Salvatore Ferragamo is overvalued based on earnings compared to the Italy market.
Price based on expected Growth
Does Salvatore Ferragamo's expected growth come at a high price?
Raw Data
BIT:SFER PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 37.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
13.5%per year
Italy Luxury Industry PEG Ratio Median Figure of 10 Publicly-Listed Luxury Companies 2.3x
Italy Market PEG Ratio Median Figure of 158 Publicly-Listed Companies 1.35x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 37.69x ÷ 13.5%

2.8x

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

  • Salvatore Ferragamo is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Salvatore Ferragamo's assets?
Raw Data
BIT:SFER PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €4.47
BIT:SFER Share Price * BIT (2019-04-18) in EUR €19.73
Italy Luxury Industry PB Ratio Median Figure of 21 Publicly-Listed Luxury Companies 1.81x
Italy Market PB Ratio Median Figure of 315 Publicly-Listed Companies 1.54x
BIT:SFER PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 19.73 ÷ 4.47

4.42x

* Primary Listing of Salvatore Ferragamo.

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

  • Salvatore Ferragamo is overvalued based on assets compared to the IT Luxury industry average.
X
Value checks
We assess Salvatore Ferragamo'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. Salvatore Ferragamo 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.

SFER Future Performance

 How is Salvatore Ferragamo expected to perform in the next 1 to 3 years based on estimates from 20 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
13.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Salvatore Ferragamo expected to grow at an attractive rate?
  • Salvatore Ferragamo's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Salvatore Ferragamo's earnings growth is expected to exceed the Italy market average.
  • Salvatore Ferragamo's revenue growth is expected to exceed the Italy market average.
Annual Growth Rates Comparison
Raw Data
BIT:SFER Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:SFER Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 13.5%
BIT:SFER Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 4.3%
Italy Luxury Industry Earnings Growth Rate Market Cap Weighted Average 9%
Italy Luxury Industry Revenue Growth Rate Market Cap Weighted Average 6%
Italy Market Earnings Growth Rate Market Cap Weighted Average 10.8%
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:SFER Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:SFER Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,704 3
2022-12-31 1,592 123 6
2021-12-31 1,519 204 137 14
2020-12-31 1,457 188 124 20
2019-12-31 1,393 174 106 18
BIT:SFER Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,347 186 88
2018-09-30 1,360 189 100
2018-06-30 1,349 226 98
2018-03-31 1,388 236 115
2017-12-31 1,393 279 119
2017-09-30 1,429 262 172
2017-06-30 1,446 248 190
2017-03-31 1,426 196 180
2016-12-31 1,438 162 202
2016-09-30 1,423 172 173
2016-06-30 1,418 178 175
2016-03-31 1,424 194 176

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Salvatore Ferragamo's earnings are expected to grow by 13.5% yearly, however this is not considered high growth (20% yearly).
  • Salvatore Ferragamo's revenue is expected to grow by 4.3% 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:SFER Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Salvatore Ferragamo Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:SFER 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 0.81 0.92 0.67 11.00
2020-12-31 0.74 0.99 0.60 17.00
2019-12-31 0.63 0.67 0.53 15.00
BIT:SFER Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.52
2018-09-30 0.59
2018-06-30 0.58
2018-03-31 0.68
2017-12-31 0.70
2017-09-30 1.02
2017-06-30 1.13
2017-03-31 1.07
2016-12-31 1.20
2016-09-30 1.02
2016-06-30 1.04
2016-03-31 1.04

*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.
  • Salvatore Ferragamo is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Salvatore Ferragamo'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.
Salvatore Ferragamo has a total score of 3/6, 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.

SFER Past Performance

  How has Salvatore Ferragamo performed over the past 5 years?

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 Salvatore Ferragamo'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.
  • Salvatore Ferragamo's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Salvatore Ferragamo's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Salvatore Ferragamo's 1-year earnings growth is negative, it can't be compared to the IT Luxury industry average.
Earnings and Revenue History
Salvatore Ferragamo'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 Salvatore Ferragamo Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:SFER Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,346.84 88.36 703.07
2018-09-30 1,360.44 100.41 694.17
2018-06-30 1,349.24 97.69 689.82
2018-03-31 1,388.23 115.36 698.78
2017-12-31 1,393.47 118.64 705.00
2017-09-30 1,428.95 171.86 714.69
2017-06-30 1,445.68 190.18 719.72
2017-03-31 1,425.58 180.07 710.78
2016-12-31 1,437.92 201.98 698.24
2016-09-30 1,422.88 172.93 691.05
2016-06-30 1,417.83 174.79 682.22
2016-03-31 1,424.27 175.91 683.10
2015-12-31 1,430.04 172.73 680.81
2015-09-30 1,396.27 159.31 661.34
2015-06-30 1,395.18 166.64 643.36
2015-03-31 1,360.30 161.70 620.41
2014-12-31 1,331.82 156.57 597.48
2014-09-30 1,299.81 147.61 590.10
2014-06-30 1,292.40 147.65 584.90
2014-03-31 1,274.87 152.12 580.44
2013-12-31 1,258.03 150.45 576.65
2013-09-30 1,235.21 148.29 564.15
2013-06-30 1,212.51 141.63 555.69
2013-03-31 1,175.28 117.91 550.02
2012-12-31 1,152.97 105.55 546.00
2012-09-30 1,117.64 88.17 536.25
2012-06-30 1,091.81 89.95 521.41

*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.
  • Salvatore Ferragamo has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Salvatore Ferragamo used its assets more efficiently than the IT Luxury industry average last year based on Return on Assets.
  • Salvatore Ferragamo's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Salvatore Ferragamo'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.
Salvatore Ferragamo has a total score of 1/6, 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.

SFER Health

 How is Salvatore Ferragamo'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 Salvatore Ferragamo's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Salvatore Ferragamo is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Salvatore Ferragamo's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Salvatore Ferragamo'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 18.2x 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 Salvatore Ferragamo Company Filings, last reported 3 months ago.

BIT:SFER Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 780.34 39.79 208.67
2018-09-30 754.94 47.57 187.00
2018-06-30 749.43 57.86 158.89
2018-03-31 767.98 67.98 208.78
2017-12-31 748.43 84.94 212.09
2017-09-30 714.86 97.57 197.64
2017-06-30 709.00 98.75 123.37
2017-03-31 722.61 125.51 117.25
2016-12-31 722.61 125.51 117.25
2016-09-30 641.50 147.89 129.50
2016-06-30 625.87 175.44 100.51
2016-03-31 643.57 162.02 186.41
2015-12-31 608.74 152.17 142.12
2015-09-30 535.93 160.00 121.40
2015-06-30 504.84 193.17 94.81
2015-03-31 514.88 166.97 131.97
2014-12-31 508.19 146.79 96.46
2014-09-30 457.43 128.12 67.88
2014-06-30 419.38 182.83 67.39
2014-03-31 432.95 94.06 67.30
2013-12-31 399.77 104.83 70.31
2013-09-30 363.57 97.85 61.86
2013-06-30 338.99 149.75 69.61
2013-03-31 336.50 108.76 74.35
2012-12-31 299.50 170.75 110.88
2012-09-30 278.84 120.22 55.51
2012-06-30 261.02 116.72 60.01
  • Salvatore Ferragamo's level of debt (5.1%) 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 (26.2% vs 5.1% today).
  • Debt is well covered by operating cash flow (468.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.8x coverage).
X
Financial health checks
We assess Salvatore Ferragamo'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. Salvatore Ferragamo 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.

SFER Dividends

 What is Salvatore Ferragamo'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
1.72%
Current annual income from Salvatore Ferragamo dividends. Estimated to be 2.11% next year.
If you bought €2,000 of Salvatore Ferragamo shares you are expected to receive €34 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?
  • Salvatore Ferragamo's pays a lower dividend yield than the bottom 25% of dividend payers in Italy (1.98%).
  • Salvatore Ferragamo's dividend is below the markets top 25% of dividend payers in Italy (4.43%).
Upcoming dividend payment

Purchase Salvatore Ferragamo before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:SFER 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 20 Analyst Estimates (S&P Global) See Below
Italy Luxury Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 1.8%
Italy Market Average Dividend Yield Market Cap Weighted Average of 182 Stocks 4%
Italy Minimum Threshold Dividend Yield 10th Percentile 1.2%
Italy Bottom 25% Dividend Yield 25th Percentile 2%
Italy Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

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

BIT:SFER Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.52 1.00
2022-12-31 0.44 2.00
2021-12-31 0.44 14.00
2020-12-31 0.42 21.00
2019-12-31 0.39 21.00
BIT:SFER Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-12 0.340 1.771
2018-03-12 0.380 1.855
2017-03-14 0.460 1.920
2016-03-17 0.460 2.133
2015-03-31 0.420 1.726
2015-03-12 0.420 1.438
2014-04-09 0.400 1.842
2014-03-11 0.400 1.866
2013-03-21 0.330 1.348
2012-04-03 0.280 1.635
2012-03-15 0.280 1.766

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

  • Whilst dividend payments have been stable, Salvatore Ferragamo has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Salvatore Ferragamo only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Salvatore Ferragamo's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Salvatore Ferragamo's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Salvatore Ferragamo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Salvatore Ferragamo has a total score of 2/6, see the detailed checks below.


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

SFER Management

 What is the CEO of Salvatore Ferragamo'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
Micaela Le Divelec Lemmi
AGE 50
TENURE AS CEO 0.8 years
CEO Bio

Ms. Micaela Le Divelec Lemmi has been the Chief Executive Officer and a Director at Salvatore Ferragamo SpA since July 31, 2018 and was its Chief Corporate Officer and Strategic Manager April 2018 and served as its General Manager until July 31, 2018. She is Executive Vice President of Gucci (“Gucci”), Member of the Kering Group, and, since March 2015, Chief Consumer Officer of Gucci leading the sales networks. She was appointed in September 2014 as General Manager of Richard Ginori (part of the Kering Group). Before being appointed to her current position, she was the Chief Financial Officer of Gucci and some of its subsidiaries in Italy, after having held various positions in the finance and management control department. She began her career as an auditor with Ernst & Young. • Offices held: - Member of foreign companies: Guccio Gucci SpA, Gucci Logistica SpA - Chairwoman: Gauguin Srl (foreign company) - Director at foreign companies: Luxury Goods Retail Pvt, Gucci India Pvt, Gucci Thailand. • Terms of office expired within the last five fiscal years: - Foreign company Chairwoman: Calzaturificio Flora Srl (ended in 2014), Caravel Pelli Pregiate SpA (ended in 2014), Conceria Blutonic SpA (ended in 2014), Design Management Srl (ended in 2014), Garpe Srl (ended in 2014), Gauguin Srl (ended in 2014), GPA Srl (ex-Real Estate Inv. – ended in 2014), Guccio Gucci SpA (ended in 2014), G Commerce Europa SpA (ended in 2012), Ggw Italia Srl (ex-Deimos Srl – ended in 2012), GT Srl (ended in 2014). - Foreign company Director: Caravel Pelli Pregiate SpA (ended in 2014), Design Management Srl (ended in 2014), G Commerce Europe SpA (ended in 2012), GT Srl (ended in 2014), Guccio Gucci SpA (ended in 2014), Kering Italia SpA (ended in 2011), Kering Service Italia SpA (ended in 2012), Luxury Goods Italia SpA (ended in 2014), Gucci Asia Company Limited (ended in 2014), Gucci Group (HK) LTD (ended in 2014), Gucci Group Watches Inc (ended in 2014), Gucci Group Guam Inc (ended in 2014), Gucci Australia (ended in 2014), Lux. Timepieces (UK) Ltd (ended in 2014), Gucci Macau Limited (ended in 2014), Lux. Timepieces Japan Ltd (ended in 2014), Gucci Malaysia (ended in 2014), Gucci New Zealand Ltd (ended in 2014), Gucci Singapore Ltd (ended in 2014), Lux. Timepieces Espana (ended in 2014), Gucci Thailand Limited (ended in 2014), Gucci Group Korea Ltd (ended in 2014). • Member of foreign companies: GPA SRL (ex-Real Estate INV. – ended in 2014) • Chairwoman of the Board of Directors: Gucci France SAS (ended in 2013) • Chairwoman: Gucci Group Watches France (ended in 2013) • General Manager: Gucci Group Watches France (ended in 2011) • Permanent Representative of Gucci International NV, Member of the Board: Gucci Belgium (ended in 2013) • Director: Gucci Spain (foreign company – ended in 2015).

CEO Compensation
  • Insufficient data for Micaela to compare compensation growth.
  • Insufficient data for Micaela to establish whether their remuneration is reasonable compared to companies of similar size in Italy.
Management Team Tenure

Average tenure of the Salvatore Ferragamo management team in years:

0.8
Average Tenure
  • The average tenure for the Salvatore Ferragamo management team is less than 2 years, this suggests a new team.
Management Team

Ferruccio Ferragamo

TITLE
Executive Chairman
COMPENSATION
€700K

Micaela Le Divelec Lemmi

TITLE
CEO & Director
AGE
50
TENURE
0.8 yrs

Alessandro Corsi

TITLE
CFO & Strategic Manager
TENURE
0.3 yrs

Paola Pecciarini

TITLE
Group Investor Relations

Riccardo Vannetti

TITLE
Chief Marketing Officer
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure of the Salvatore Ferragamo board of directors in years:

2
Average Tenure
  • The average tenure for the Salvatore Ferragamo board of directors is less than 3 years, this suggests a new board.
Board of Directors

Micaela Le Divelec Lemmi

TITLE
CEO & Director
AGE
50
TENURE
0.8 yrs

James Ferragamo

TITLE
Vice Chairman & Strategic Manager
TENURE
1 yrs

Ferruccio Ferragamo

TITLE
Executive Chairman
COMPENSATION
€700K
TENURE
12.7 yrs

Umberto Tombari

TITLE
Independent Non-Executive Director
COMPENSATION
€70K
TENURE
7.8 yrs

Marzio Alessandro Saà

TITLE
Lead Independent Director
COMPENSATION
€70K
AGE
78

Andrea Balelli

TITLE
Chairman of Statutory Board
TENURE
2 yrs

Giovanna Ferragamo

TITLE
Director
COMPENSATION
€200K

Leonardo Ferragamo

TITLE
Non-Executive Director
COMPENSATION
€50K

Francesco Caretti

TITLE
Non-Executive Director
COMPENSATION
€285K

Diego Paternò di San Giuliano

TITLE
Non-Executive Director
COMPENSATION
€285K
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 (€)
26. Jun 18 Sell Ferragamo Finanziaria SpA Company 20. Jun 18 20. Jun 18 -5,907,650 €23.13 €-136,614,405
X
Management checks
We assess Salvatore Ferragamo'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. Salvatore Ferragamo 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.

SFER News

Simply Wall St News

Should We Worry About Salvatore Ferragamo S.p.A.'s (BIT:SFER) P/E Ratio?

We'll show how you can use Salvatore Ferragamo S.p.A.'s (BIT:SFER) P/E ratio to inform your assessment of the investment opportunity. … Salvatore Ferragamo has a P/E ratio of 37.82, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Salvatore Ferragamo S.p.A. (BIT:SFER): Is Growth Priced In?

(BIT:SFER) is considered a high growth stock. … Check out our latest analysis for Salvatore Ferragamo? … According to the analysts covering the company, the following few years should bring about good growth prospects for Salvatore Ferragamo

Simply Wall St -

All You Need To Know About Salvatore Ferragamo S.p.A.'s (BIT:SFER) Financial Health

Stocks with market capitalization between $2B and $10B, such as Salvatore Ferragamo S.p.A. … Let’s take a look at SFER’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Check out our latest analysis for Salvatore Ferragamo

Simply Wall St -

Read This Before Buying Salvatore Ferragamo S.p.A. (BIT:SFER) For Its Dividend

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Let's take a look at Salvatore Ferragamo in more detail. … View our latest analysis for Salvatore Ferragamo

Simply Wall St -

Some Salvatore Ferragamo Shareholders Are Down 16%

(BIT:SFER), since the last five years saw the share price fall 16%. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Looking back five years, both Salvatore Ferragamo's share price and EPS declined; the latter at a rate of 7.6% per year.

Simply Wall St -

How Do Analysts See Salvatore Ferragamo S.p.A. (BIT:SFER) Performing In The Next 12 Months?

Help shape the future of investing tools and receive a $20 prize! … After Salvatore Ferragamo S.p.A.'s (BIT:SFER) earnings announcement in September 2018, … analyst consensus outlook appear cautiously optimistic,

Simply Wall St -

Estimating The Fair Value Of Salvatore Ferragamo S.p.A. (BIT:SFER)

In this article I am going to calculate the intrinsic value of Salvatore Ferragamo S.p.A. … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

How Good Is Salvatore Ferragamo S.p.A. (BIT:SFER), When It Comes To ROE?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every €1 worth of shareholders' equity, it generated €0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why We Like Salvatore Ferragamo S.p.A.’s (BIT:SFER) 20% Return On Capital Employed

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is It Time To Consider Buying Salvatore Ferragamo S.p.A. (BIT:SFER)?

received a lot of attention from a substantial price movement on the BIT over the last few months, increasing to €21.4 at one point, and dropping to the lows of €17.17. … A question to answer is whether Salvatore Ferragamo's current trading price of €17.5 reflective of the actual value of the? … Let’s take a look at Salvatore Ferragamo’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

SFER Company Info

Description

Salvatore Ferragamo S.p.A., through its subsidiaries, creates, produces, and sells luxury goods for men and women worldwide. The company offers footwear, leather goods, apparel, silk goods, jewels, other accessories, and fragrances, as well as eyewear and watches. It provides handbags; suitcases; belts; wallets; soft accessories, such as silk twill, scarves, gloves and hats, and hair accessories; lifestyle accessories; jewelry; and ready to wear products, including outwear, knitwear, jacket and blazers, dresses, tops and shirts, pants, skirts, and children products. It also offers fragrances and related products under the Salvatore Ferragamo and Ungaro brands. In addition, the company licenses its Salvatore Ferragamo brand; and provides real estate management services. As of December 31, 2017, it operated a network of 410 Ferragamo single brand stores; and 275 single brand stores or stores-in-stores managed by third parties, as well as through a multibrand channel. The company was formerly known as Salvatore Ferragamo Italia S.p.A. and changed its name to Salvatore Ferragamo S.p.A. in April 2011. Salvatore Ferragamo S.p.A. was founded in 1927 and is based in Florence, Italy. Salvatore Ferragamo S.p.A. is a subsidiary of Ferragamo Finanziaria S.p.A.

Details
Name: Salvatore Ferragamo S.p.A.
SFER
Exchange: BIT
Founded: 1927
€3,329,240,200
168,740,000
Website: http://www.ferragamo.com
Address: Salvatore Ferragamo S.p.A.
Via Tornabuoni, 2,
Florence,
Florence, 50123,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT SFER Ordinary Shares Borsa Italiana IT EUR 29. Jun 2011
OTCPK SFRG.F Ordinary Shares Pink Sheets LLC US USD 29. Jun 2011
LSE 0P52 Ordinary Shares London Stock Exchange GB EUR 29. Jun 2011
WBAG SFER Ordinary Shares Wiener Boerse AG AT EUR 29. Jun 2011
BATS-CHIXE SFERM Ordinary Shares BATS 'Chi-X Europe' GB EUR 29. Jun 2011
OTCPK SFRG.Y ADR Pink Sheets LLC US USD 21. Mar 2013
Number of employees
Current staff
Staff numbers
4,000
Salvatore Ferragamo employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:36
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/03/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.