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TISG

Italian Sea Group BIT:TISG Stock Report

Last Price

€5.25

Market Cap

€278.3m

7D

1.0%

1Y

-18.9%

Updated

14 Aug, 2022

Data

Company Financials +
TISG fundamental analysis
Snowflake Score
Valuation5/6
Future Growth5/6
Past Performance2/6
Financial Health5/6
Dividends3/6

TISG Stock Overview

The Italian Sea Group S.p.A. operates in the luxury yachting industry.

Italian Sea Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Italian Sea Group
Historical stock prices
Current Share Price€5.25
52 Week High€7.59
52 Week Low€4.70
Beta0
1 Month Change10.29%
3 Month Change-9.17%
1 Year Change-18.86%
3 Year Changen/a
5 Year Changen/a
Change since IPO-0.019%

Recent News & Updates

Mar 08
The Italian Sea Group S.p.A.'s (BIT:TISG) Intrinsic Value Is Potentially 94% Above Its Share Price

The Italian Sea Group S.p.A.'s (BIT:TISG) Intrinsic Value Is Potentially 94% Above Its Share Price

Today we will run through one way of estimating the intrinsic value of The Italian Sea Group S.p.A. ( BIT:TISG ) by...

Sep 25
Italian Sea Group's (BIT:TISG) Promising Earnings May Rest On Soft Foundations

Italian Sea Group's (BIT:TISG) Promising Earnings May Rest On Soft Foundations

The Italian Sea Group S.p.A. ( BIT:TISG ) announced strong profits, but the stock was stagnant. We did some digging...

Shareholder Returns

TISGIT LeisureIT Market
7D1.0%-0.7%1.7%
1Y-18.9%-28.3%-16.0%

Return vs Industry: TISG exceeded the Italian Leisure industry which returned -28.3% over the past year.

Return vs Market: TISG underperformed the Italian Market which returned -16% over the past year.

Price Volatility

Is TISG's price volatile compared to industry and market?
TISG volatility
TISG Average Weekly Movement6.1%
Leisure Industry Average Movement5.6%
Market Average Movement4.9%
10% most volatile stocks in IT Market7.7%
10% least volatile stocks in IT Market3.1%

Stable Share Price: TISG is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TISG's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1942401Giovanni Costantinohttps://theitalianseagroup.com

The Italian Sea Group S.p.A. operates in the luxury yachting industry. It is involved in the construction and refit of motor yachts and sailing yachts up to 100 meters under the Admiral and Tecnomar brands. The company also offers repairing and refit services with a focus on yachts and mega yachts with a length more than 60 meters under the NCA Refit brand.

Italian Sea Group Fundamentals Summary

How do Italian Sea Group's earnings and revenue compare to its market cap?
TISG fundamental statistics
Market Cap€278.25m
Earnings (TTM)€16.32m
Revenue (TTM)€181.98m

17.0x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TISG income statement (TTM)
Revenue€181.98m
Cost of Revenue€117.95m
Gross Profit€64.03m
Other Expenses€47.71m
Earnings€16.32m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.31
Gross Margin35.19%
Net Profit Margin8.97%
Debt/Equity Ratio37.3%

How did TISG perform over the long term?

See historical performance and comparison

Dividends

3.5%

Current Dividend Yield

60%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

TISG 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/Revenue1.3x
Enterprise Value/EBITDA12x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

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

TISG PE Ratio vs Peers
The above table shows the PE ratio for TISG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average20.2x
RFG Racing Force
24x18.4%€100.0m
SL Sanlorenzo
19.9x12.4%€1.1b
TGYM Technogym
25x18.8%€1.4b
SAB Sabaf
12x7.8%€241.1m
TISG Italian Sea Group
17x20.1%€278.3m

Price-To-Earnings vs Peers: TISG is good value based on its Price-To-Earnings Ratio (17x) compared to the peer average (20.2x).


Price to Earnings Ratio vs Industry

How does TISG's PE Ratio compare vs other companies in the European Leisure Industry?

Price-To-Earnings vs Industry: TISG is expensive based on its Price-To-Earnings Ratio (17x) compared to the European Leisure industry average (16.9x)


Price to Earnings Ratio vs Fair Ratio

What is TISG'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.

TISG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17x
Fair PE Ratio19.1x

Price-To-Earnings vs Fair Ratio: TISG is good value based on its Price-To-Earnings Ratio (17x) compared to the estimated Fair Price-To-Earnings Ratio (19.1x).


Share Price vs Fair Value

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

Below Fair Value: TISG (€5.25) is trading below our estimate of fair value (€18.07)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Italian Sea Group forecast to perform in the next 1 to 3 years based on estimates from 3 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


20.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TISG's forecast earnings growth (20.1% per year) is above the savings rate (1.7%).

Earnings vs Market: TISG's earnings (20.1% per year) are forecast to grow faster than the Italian market (9.3% per year).

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

Revenue vs Market: TISG's revenue (15.2% per year) is forecast to grow faster than the Italian market (0.01% per year).

High Growth Revenue: TISG's revenue (15.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TISG's Return on Equity is forecast to be high in 3 years time (22.1%)


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Past Performance

How has Italian Sea Group performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


161.8%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: TISG has a large one-off gain of €4.7M impacting its December 31 2021 financial results.

Growing Profit Margin: TISG's current net profit margins (9%) are higher than last year (5.6%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if TISG's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Insufficient data to compare TISG's past year earnings growth to its 5-year average.

Earnings vs Industry: TISG earnings growth over the past year (161.8%) exceeded the Leisure industry 10.6%.


Return on Equity

High ROE: TISG's Return on Equity (17.6%) is considered low.


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Financial Health

How is Italian Sea Group's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TISG's short term assets (€151.2M) exceed its short term liabilities (€105.3M).

Long Term Liabilities: TISG's short term assets (€151.2M) exceed its long term liabilities (€36.9M).


Debt to Equity History and Analysis

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

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

Debt Coverage: TISG's debt is well covered by operating cash flow (106.1%).

Interest Coverage: TISG's interest payments on its debt are well covered by EBIT (5.4x coverage).


Balance Sheet


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Dividend

What is Italian Sea Group current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.52%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TISG's dividend (3.52%) is higher than the bottom 25% of dividend payers in the Italian market (1.65%).

High Dividend: TISG's dividend (3.52%) is low compared to the top 25% of dividend payers in the Italian market (5.18%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether TISG's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if TISG's dividend payments are increasing as they only just started paying a dividend.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (60.1%), TISG's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (75.5%), TISG'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?

5.6yrs

Average board tenure


CEO

Giovanni Costantino (59 yo)

no data

Tenure

Mr. Giovanni Costantino is Chief Executive Officer and Director at The Italian Sea Group S.p.A. In 1982 he began his career as an entrepreneur in the building and custom-made furniture sector. In 1997, he...


Board Members

Experienced Board: TISG's board of directors are considered experienced (5.6 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

The Italian Sea Group S.p.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: The Italian Sea Group S.p.A.
  • Ticker: TISG
  • Exchange: BIT
  • Founded: 1942
  • Industry: Leisure Products
  • Sector: Consumer Durables
  • Implied Market Cap: €278.250m
  • Shares outstanding: 53.00m
  • Website: https://theitalianseagroup.com

Number of Employees


Location

  • The Italian Sea Group S.p.A.
  • Viale Colombo, 4Bis
  • Marina di Carrara
  • Massa Carrara
  • 54033
  • Italy

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/14 00:00
End of Day Share Price2022/08/12 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.