BIT:TGYM

Stock Analysis Report

Executive Summary

Technogym S.p.A., a wellness company, designs, manufactures, and sells fitness equipment worldwide.

Snowflake

Fundamentals

Excellent balance sheet with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

3.8%

TGYM

1.1%

IT Leisure

2.8%

IT Market


1 Year Return

4.1%

TGYM

13.0%

IT Leisure

10.1%

IT Market

Return vs Industry: TGYM underperformed the Italian Leisure industry which returned 13% over the past year.

Return vs Market: TGYM underperformed the Italian Market which returned 10.1% over the past year.


Shareholder returns

TGYMIndustryMarket
7 Day3.8%1.1%2.8%
30 Day5.0%-1.5%0.9%
90 Day3.2%-3.0%0.03%
1 Year5.9%4.1%15.7%13.0%14.9%10.1%
3 Year147.9%139.2%61.7%49.2%28.1%10.4%
5 Yearn/a114.5%90.8%22.6%-25.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

26x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: TGYM (€10.43) is trading above our estimate of fair value (€5.39)

Significantly Undervalued: TGYM is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TGYM is poor value based on its PE Ratio (26x) compared to the Leisure industry average (17.9x).

PE vs Market: TGYM is poor value based on its PE Ratio (26x) compared to the Italian market (17.1x).


Price to Earnings Growth Ratio

Low PEG Ratio: TGYM is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: TGYM is overvalued based on its PB Ratio (10.6x) compared to the XE Leisure industry average (2x).


Next Steps

Future Growth

How is Technogym forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

7.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TGYM's forecast earnings growth (7.8% per year) is above the savings rate (2.9%).

Earnings vs Market: TGYM's earnings (7.8% per year) are forecast to grow slower than the Italian market (8.6% per year).

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

Revenue vs Market: TGYM's revenue (5.9% per year) is forecast to grow faster than the Italian market (3.1% per year).

High Growth Revenue: TGYM's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: TGYM's Return on Equity is forecast to be high in 3 years time (29.9%)


Next Steps

Past Performance

How has Technogym performed over the past 5 years?

36.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TGYM's earnings have grown significantly by 36.7% per year over the past 5 years.

Accelerating Growth: TGYM's earnings growth over the past year (1.2%) is below its 5-year average (36.7% per year).

Earnings vs Industry: TGYM earnings growth over the past year (1.2%) underperformed the Leisure industry 11%.


Return on Equity

High ROE: TGYM's Return on Equity (40.5%) is considered outstanding.


Return on Assets

ROA vs Industry: TGYM has a higher Return on Assets than the Leisure industry average last year.


Return on Capital Employed

ROCE Improving: TGYM's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Technogym's financial position?


Financial Position Analysis

Short Term Liabilities: TGYM's short term assets (€311.1M) exceeds its short term liabilities (€291.7M)

Long Term Liabilities: TGYM's short term assets (311.1M) exceeds its long term liabilities (115.3M)


Debt to Equity History and Analysis

Debt Level: TGYM's debt to equity ratio (52.7%) is considered high

Reducing Debt: TGYM's debt to equity ratio has reduced from 1726.6% to 52.7% over the past 5 years.

Debt Coverage: TGYM's debt is well covered by operating cash flow (103.9%).

Interest Coverage: TGYM's interest payments on its debt are well covered by EBIT (127x coverage).


Balance Sheet

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

Debt Coverage by Assets: TGYM's debt is covered by short term assets (assets are 2.951990x debt).


Next Steps

Dividend

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

1.73%

Current Dividend Yield


Dividend Yield vs Market

company1.7%marketbottom25%2.1%markettop25%4.4%industryaverage3.0%forecastin3Years1.7%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: TGYM's dividend (1.73%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (2.06%).

High Dividend: TGYM's dividend (1.73%) is low compared to the top 25% of dividend payers in the Italian market (4.41%).

Stable Dividend: Whilst dividend payments have been stable, TGYM has been paying a dividend for less than 10 years.

Growing Dividend: TGYM's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.9%), TGYM's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TGYM's dividends in 3 years are forecast to be well covered by earnings (39.1% payout ratio).


Next Steps

Management

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

€2m

CEO Compensation


CEO

Nerio Alessandri (58yo)

0yrs

Tenure

€1,520,546

Compensation

Mr. Nerio Alessandri serves as the Chairman and Chief Executive Officer of Technogym S.p.A. which he founded in 1983 and is its President. Mr. Alessandri has been an Independent Director of Moncler S.p.A.  ...


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€144,200,00311 Apr 19
Wellness Holding Srl
EntityCompany
Shares14,000,000
Max Price€10.30

Ownership Breakdown


Management Team

  • Nerio Alessandri (58yo)

    Chairman

    • Tenure: 0yrs
    • Compensation: €1.52m
  • Carlo Capelli (57yo)

    Head of Investor Relations & Executive Director

    • Tenure: 0yrs
    • Compensation: €17.35k
  • Pierluigi Alessandri

    Deputy Chairman

    • Tenure: 0yrs
    • Compensation: €520.55k

Board Members

  • Maria La Manna (55yo)

    Lead Independent Director

    • Tenure: 0yrs
  • Nerio Alessandri (58yo)

    Chairman

    • Tenure: 0yrs
    • Compensation: €1.52m
  • Maurizio Cereda (55yo)

    Director

    • Tenure: 0yrs
  • Riccardo Pinza

    Director

    • Tenure: 0yrs
    • Compensation: €15.60k
  • Carlo Capelli (57yo)

    Head of Investor Relations & Executive Director

    • Tenure: 0yrs
    • Compensation: €17.35k
  • Vincenzo Giannelli

    Independent Director

    • Tenure: 0yrs
  • Francesca Bellettini

    Independent Director

    • Tenure: 0yrs
  • Pierluigi Alessandri

    Deputy Chairman

    • Tenure: 0yrs
    • Compensation: €520.55k
  • Erica Alessandri

    Director

    • Tenure: 0yrs
  • Claudia Costanza

    Chair of the Board of Statutory Auditors

    • Tenure: 0yrs

Company Information

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


Key Information

  • Name: Technogym S.p.A.
  • Ticker: TGYM
  • Exchange: BIT
  • Founded: 1983
  • Industry: Leisure Products
  • Sector: Consumer Durables
  • Market Cap: €2.096b
  • Shares outstanding: 201.01m
  • Website: https://www.technogym.com

Number of Employees


Location

  • Technogym S.p.A.
  • Via Calcinaro, 2861
  • Cesena
  • Forlì
  • 47521
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TGYMBIT (Borsa Italiana)YesCommon StockITEURMay 2016
TN2DB (Deutsche Boerse AG)YesCommon StockDEEURMay 2016
TGYMMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURMay 2016
0RG1LSE (London Stock Exchange)YesCommon StockGBEURMay 2016
TCCH.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDMay 2016

Biography

Technogym S.p.A., a wellness company, designs, manufactures, and sells fitness equipment worldwide. The company offers a range of wellness, physical exercise, and rehabilitation solutions. Its products inc ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 21:42
End of Day Share Price2019/10/16 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.