Azimut Holding
Market Cap
€2.2b
Last Updated
2020/10/21 20:54 UTC
Data Sources
Company Financials +
Executive Summary
Azimut Holding S.p.A., together with its subsidiaries, distributes, manages, and promotes financial and insurance products. More Details
Rewards
Risk Analysis
Snowflake Analysis
Solid track record established dividend payer.
Similar Companies
Share Price & News
How has Azimut Holding's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AZM has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-4.8%
AZM
1.5%
IT Capital Markets
-0.7%
IT Market
1 Year Return
-13.4%
AZM
-9.4%
IT Capital Markets
-15.0%
IT Market
Return vs Industry: AZM underperformed the Italian Capital Markets industry which returned -9.4% over the past year.
Return vs Market: AZM exceeded the Italian Market which returned -15% over the past year.
Shareholder returns
| AZM | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.8% | 1.5% | -0.7% |
| 30 Day | -0.4% | -1.9% | -1.6% |
| 90 Day | -8.0% | -3.8% | -5.5% |
| 1 Year | -7.1%-13.4% | -5.8%-9.4% | -12.8%-15.0% |
| 3 Year | 13.9%-7.0% | -6.4%-21.3% | -11.6%-19.8% |
| 5 Year | 0.5%-29.0% | -11.4%-24.1% | -6.0%-27.8% |
Price Volatility Vs. Market
How volatile is Azimut Holding's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Share Price Aside, Azimut Holding (BIT:AZM) Has Delivered Shareholders A 3.4% Return.2 months ago | Simply Wall St
Azimut Holding S.p.A.'s (BIT:AZM) Business And Shares Still Trailing The Market2 months ago | Simply Wall St
Is Azimut Holding S.p.A. (BIT:AZM) A Smart Choice For Dividend Investors?Valuation
Is Azimut Holding undervalued compared to its fair value and its price relative to the market?
4.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AZM (€15.72) is trading below our estimate of fair value (€16.45)
Significantly Below Fair Value: AZM is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: AZM is good value based on its PE Ratio (6.4x) compared to the IT Capital Markets industry average (16.3x).
PE vs Market: AZM is good value based on its PE Ratio (6.4x) compared to the Italian market (16.8x).
Price to Earnings Growth Ratio
PEG Ratio: AZM is poor value based on its PEG Ratio (8.8x)
Price to Book Ratio
PB vs Industry: AZM is overvalued based on its PB Ratio (3.3x) compared to the IT Capital Markets industry average (1.3x).
Next Steps
Future Growth
How is Azimut Holding forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
0.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AZM's forecast earnings growth (0.7% per year) is below the savings rate (2%).
Earnings vs Market: AZM's earnings (0.7% per year) are forecast to grow slower than the Italian market (23.9% per year).
High Growth Earnings: AZM's earnings are forecast to grow, but not significantly.
Revenue vs Market: AZM's revenue (3.2% per year) is forecast to grow slower than the Italian market (3.4% per year).
High Growth Revenue: AZM's revenue (3.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AZM's Return on Equity is forecast to be high in 3 years time (25.9%)
Next Steps
Past Performance
How has Azimut Holding performed over the past 5 years?
11.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AZM has high quality earnings.
Growing Profit Margin: AZM's current net profit margins (29.1%) are higher than last year (22.2%).
Past Earnings Growth Analysis
Earnings Trend: AZM's earnings have grown by 11.9% per year over the past 5 years.
Accelerating Growth: AZM's earnings growth over the past year (55.2%) exceeds its 5-year average (11.9% per year).
Earnings vs Industry: AZM earnings growth over the past year (55.2%) exceeded the Capital Markets industry 48.4%.
Return on Equity
High ROE: Whilst AZM's Return on Equity (53.12%) is outstanding, this metric is skewed due to their high level of debt.
Next Steps
Financial Health
How is Azimut Holding's financial position?
Financial Position Analysis
Short Term Liabilities: AZM's short term assets (€7.1B) exceed its short term liabilities (€164.9M).
Long Term Liabilities: AZM's short term assets (€7.1B) exceed its long term liabilities (€7.0B).
Debt to Equity History and Analysis
Debt Level: AZM's debt to equity ratio (135.8%) is considered high.
Reducing Debt: AZM's debt to equity ratio has increased from 36.1% to 135.8% over the past 5 years.
Debt Coverage: AZM's debt is well covered by operating cash flow (69.1%).
Interest Coverage: AZM's interest payments on its debt are well covered by EBIT (29.7x coverage).
Balance Sheet
Next Steps
Dividend
What is Azimut Holding current dividend yield, its reliability and sustainability?
6.36%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: AZM's dividend (6.36%) is higher than the bottom 25% of dividend payers in the Italian market (1.56%).
High Dividend: AZM's dividend (6.36%) is in the top 25% of dividend payers in the Italian market (5.4%)
Stability and Growth of Payments
Stable Dividend: AZM's dividend payments have been volatile in the past 10 years.
Growing Dividend: AZM's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (40.7%), AZM's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AZM's dividends in 3 years are forecast to be covered by earnings (70% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.5yrs
Average management tenure
CEO
Paolo Martini (47 yo)
1.5yrs
Tenure
€282,000
Compensation
Mr. Paolo Martini serves as Vice Chairman of the Board at Azimut Capital Management Sgr SpA since April 2019, where he served as Co-Chief Executive Officer from October 2016 to April 2019. Mr. Martini serv ...
CEO Compensation Analysis
Compensation vs Market: Paolo's total compensation ($USD0.00) is below average for companies of similar size in the Italian market ($USD1.75M).
Compensation vs Earnings: Insufficient data to compare Paolo's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, GM | 1.5yrs | €282.00k | no data | |
| Head of Asset Management -Italy | 1.5yrs | no data | no data | |
| CEO, Head of Administration & Finance | 3.5yrs | no data | no data | |
| CEO & Director | 1.83yrs | no data | no data | |
| Global Head of Asset Management | no data | no data | no data | |
| CEO, Global Head of Distribution & Director | no data | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Head of Asset Management for Luxembourg & Ireland | 1.5yrs | no data | no data | |
| Group Commercial Director | no data | €555.10k | no data |
1.5yrs
Average Tenure
46yo
Average Age
Experienced Management: AZM's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.
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
Azimut Holding S.p.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Azimut Holding S.p.A.
- Ticker: AZM
- Exchange: BIT
- Founded: 1989
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: €2.173b
- Shares outstanding: 138.24m
- Website: https://www.azimut.it
Number of Employees
Location
- Azimut Holding S.p.A.
- Via Cusani, 4
- Milan
- Milan
- 20121
- Italy
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| HDB | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 2004 |
| AZM | BIT (Borsa Italiana) | Yes | Common Shares | IT | EUR | Jul 2004 |
| 0MHJ | LSE (London Stock Exchange) | Yes | Common Shares | GB | EUR | Jul 2004 |
| AZIH.F | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Jul 2004 |
| AZMM | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Common Shares | GB | EUR | Jul 2004 |
| AZM | WBAG (Wiener Boerse AG) | Yes | Common Shares | AT | EUR | Jul 2004 |
| AZIH.Y | OTCPK (Pink Sheets LLC) | UNSPONSORD ADR | US | USD | Nov 2011 |
Biography
Azimut Holding S.p.A., together with its subsidiaries, distributes, manages, and promotes financial and insurance products. The company offers mutual fund management, life insurance, wealth management, inv ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/21 20:54 |
| End of Day Share Price | 2020/10/21 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.