BIT:SFL

Stock Analysis Report

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Executive Summary

Safilo Group S.p.A. engages in the design, production, wholesale, and retail distribution of products for the eyewear market in Europe, North America, the Asia-Pacific, and internationally.


Snowflake Analysis

Adequate balance sheet with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: SFL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

19.8%

SFL

10.9%

IT Luxury

9.3%

IT Market


1 Year Return

-7.1%

SFL

-9.5%

IT Luxury

-4.5%

IT Market

Return vs Industry: SFL exceeded the Italian Luxury industry which returned -11.6% over the past year.

Return vs Market: SFL underperformed the Italian Market which returned -6% over the past year.


Shareholder returns

SFLIndustryMarket
7 Day19.8%10.9%9.3%
30 Day26.1%13.6%15.4%
90 Day5.5%5.5%-2.7%
1 Year-7.1%-7.1%-9.5%-9.5%-2.1%-4.5%
3 Year-77.8%-86.3%-4.7%-10.8%-1.4%-10.3%
5 Year-88.5%-92.9%-5.8%-17.2%-5.2%-37.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.72x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: SFL (€0.88) is trading above our estimate of fair value (€0.45)

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


Price To Earnings Ratio

PE vs Industry: SFL is unprofitable, so we can't compare its PE Ratio to the Luxury industry average.

PE vs Market: SFL is unprofitable, so we can't compare its PE Ratio to the Italian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SFL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SFL is good value based on its PB Ratio (0.7x) compared to the IT Luxury industry average (1.1x).


Next Steps

Future Growth

How is Safilo Group forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

110.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SFL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: SFL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SFL's is expected to become profitable in the next 3 years.

Revenue vs Market: SFL's revenue is expected to decline over the next 3 years (-0.5% per year).

High Growth Revenue: SFL's revenue is forecast to decline over the next 3 years (-0.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SFL's Return on Equity is forecast to be low in 3 years time (3.1%).


Next Steps

Past Performance

How has Safilo Group performed over the past 5 years?

-41.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SFL is currently unprofitable.

Growing Profit Margin: SFL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SFL is unprofitable, and losses have increased over the past 5 years at a rate of -41.9% per year.

Accelerating Growth: Unable to compare SFL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SFL is unprofitable, making it difficult to compare its past year earnings growth to the Luxury industry (5.8%).


Return on Equity

High ROE: SFL has a negative Return on Equity (-88.3%), as it is currently unprofitable.


Next Steps

Financial Health

How is Safilo Group's financial position?


Financial Position Analysis

Short Term Liabilities: SFL's short term assets (€537.1M) exceed its short term liabilities (€298.7M).

Long Term Liabilities: SFL's short term assets (€537.1M) exceed its long term liabilities (€188.6M).


Debt to Equity History and Analysis

Debt Level: SFL's debt to equity ratio (26.9%) is considered satisfactory.

Reducing Debt: SFL's debt to equity ratio has increased from 25.6% to 26.9% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: SFL has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if SFL has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate SFL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SFL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SFL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SFL's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

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


Next Steps

Management

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

3.2yrs

Average board tenure


CEO

Angelo Trocchia (56yo)

2.17yrs

Tenure

Mr. Angelo Trocchia has been Chief Executive Officer and Director of Safilo Group SpA since April 24, 2018. He served as the Chairman and Chief Executive Officer of Unilever Italia srl. After an MBA at the ...


Board Members

NamePositionTenureCompensationOwnership
Eugenio Razelli
Executive Chairman3.17yrs€63.70kno data
Angelo Trocchia
CEO & Director2.17yrsno datano data
Jeffrey Cole
Non-Executive Director10.25yrs€48.80kno data
Melchert Groot
Non Executive Director7.83yrs€52.50kno data
Robert Polet
Non-Executive Directorno data€30.00kno data
Carmen Pezzuto
Chairman of Board of Statutory Auditors3.08yrsno datano data
Guido Guzzetti
Independent Non Executive Director5.17yrs€43.33kno data
Ines Mazzilli
Independent Non Executive Director5.17yrs€53.33kno data
Cinzia Morelli-Verhoog
Independent Non Executive Director2.17yrsno datano data
Katia Buja
Non-Executive Director0.17yrno datano data

3.2yrs

Average Tenure

59.5yo

Average Age

Experienced Board: SFL's board of directors are considered experienced (3.2 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

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


Key Information

  • Name: Safilo Group S.p.A.
  • Ticker: SFL
  • Exchange: BIT
  • Founded: 1878
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: €244.687m
  • Shares outstanding: 275.70m
  • Website: https://www.safilogroup.com

Number of Employees


Location

  • Safilo Group S.p.A.
  • Settima Strada 15
  • Padua
  • Padova
  • 35129
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SFLBIT (Borsa Italiana)YesOrdinary SharesITEURDec 2005
S5U5DB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2005
0NJ5LSE (London Stock Exchange)YesOrdinary SharesGBEURDec 2005
SAFL.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2005
SFLMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 2005
SAFL.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDJan 2012

Biography

Safilo Group S.p.A. engages in the design, production, wholesale, and retail distribution of products for the eyewear market in Europe, North America, the Asia-Pacific, and internationally. The company operates through Wholesale and Retail segments. Its brand portfolio comprises a set of own branded products, such as optical frames, sunglasses, sports goggles, and helmets, as well as licensed brands comprising prescription frames and sunglasses. The company offers its products under own brands comprising Blenders Eyewear, Carrera, Polaroid, Privé Revaux, Safilo, and Smith, as well as Adensco, Chesterfield, and Denim; and licensed brands, such as Banana Republic, BOSS – HUGO, David Beckham, Dior, Dior Homme, Elie Saab, Fendi, Fossil, Givenchy, Havaianas, Jimmy Choo, Juicy Couture, Kate Spade, LEVI’S, Liz Claiborne, Love Moschino, Marc Jacobs, Max Mara, Missoni, M Missoni, Moschino, Pierre Cardin, rag&bone, Saks Fifth Avenue, Swatch, and Tommy Hilfiger. It serves opticians, optometrists, ophthalmologists, distribution chains, department stores, specialized retailers, and licensors’ own stores, as well as duty free and sports shops. The company sells its products through a network of independent distributor partners. The company was formerly known as Safilo Holding S.p.A. and changed its name to Safilo Group S.p.A. in September 2005. Safilo Group S.p.A. was founded in 1878 and is headquartered in Padua, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/05 21:33
End of Day Share Price2020/06/05 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.