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AZM

Azimut HoldingBIT:AZM Stock Report

Market Cap

€3.5b

7D

4.8%

1Y

56.8%

Updated

23 Oct, 2021

Data

Company Financials +
AZM fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance4/6
Financial Health4/6
Dividends5/6

AZM Overview

Azimut Holding S.p.A., together with its subsidiaries, distributes, manages, and promotes financial and insurance products.

Azimut Holding Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Azimut Holding
Historical stock prices
Current Share Price€24.75
52 Week High€13.93
52 Week Low€24.90
Beta1.81
1 Month Change1.39%
3 Month Change13.79%
1 Year Change56.79%
3 Year Change131.42%
5 Year Change66.55%
Change since IPO568.92%

Recent News & Updates

Mar 14
Results: Azimut Holding S.p.A. Beat Earnings Expectations And Analysts Now Have New Forecasts

Results: Azimut Holding S.p.A. Beat Earnings Expectations And Analysts Now Have New Forecasts

As you might know, Azimut Holding S.p.A. ( BIT:AZM ) just kicked off its latest yearly results with some very strong...

Shareholder Returns

AZMIT Capital MarketsIT Market
7D4.8%3.9%0.5%
1Y56.8%48.0%36.4%

Return vs Industry: AZM exceeded the Italian Capital Markets industry which returned 48% over the past year.

Return vs Market: AZM exceeded the Italian Market which returned 36.4% over the past year.

Price Volatility

Is AZM's price volatile compared to industry and market?
AZM volatility
AZM Beta1.81
Industry Beta1.51
Market Beta1

Stable Share Price: AZM is less volatile than 75% of Italian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: AZM's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19891,359Martini Paolohttps://www.azimut.it

Azimut Holding S.p.A., together with its subsidiaries, distributes, manages, and promotes financial and insurance products. The company offers mutual fund management, life and third party insurances, wealth management, investment portfolio individual management, insurance mediation, financial planning, and fund and asset management services; order receipt and transmission activities; invests in the digital sector; and manages Italian, pension, alternative, discretionary, private equity and debt funds, and various other investment plans, as well as placement and financial advisory services. It operates in Luxembourg, Ireland, China, Monaco, Switzerland, Singapore, Brazil, Mexico, Taiwan, Chile, Australia, Turkey, the United States, the United Arab Emirates, and Egypt.

Azimut Holding Fundamentals Summary

How do Azimut Holding's earnings and revenue compare to its market cap?
AZM fundamental statistics
Market Cap€3.46b
Earnings (TTM)€464.72m
Revenue (TTM)€1.38b

7.4x

P/E Ratio

2.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AZM income statement (TTM)
Revenue€1.38b
Cost of Revenue€571.05m
Gross Profit€813.13m
Expenses€348.41m
Earnings€464.72m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 11, 2021

Earnings per share (EPS)3.33
Gross Margin58.74%
Net Profit Margin33.57%
Debt/Equity Ratio100.2%

How did AZM perform over the long term?

See historical performance and comparison

Dividends

4.0%

Current Dividend Yield

30%

Payout Ratio

Valuation

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

40.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AZM (€24.75) is trading below our estimate of fair value (€41.55)

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


Price To Earnings Ratio

PE vs Industry: AZM is good value based on its PE Ratio (7.4x) compared to the Italian Capital Markets industry average (13.7x).

PE vs Market: AZM is good value based on its PE Ratio (7.4x) compared to the Italian market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: AZM's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: AZM is overvalued based on its PB Ratio (4.1x) compared to the IT Capital Markets industry average (1.5x).


Future Growth

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

-0.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AZM's earnings are forecast to decline over the next 3 years (-0.6% per year).

Earnings vs Market: AZM's earnings are forecast to decline over the next 3 years (-0.6% per year).

High Growth Earnings: AZM's earnings are forecast to decline over the next 3 years.

Revenue vs Market: AZM's revenue (2% per year) is forecast to grow slower than the Italian market (2.2% per year).

High Growth Revenue: AZM's revenue (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 (24%)


Past Performance

How has Azimut Holding performed over the past 5 years?

21.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AZM has high quality earnings.

Growing Profit Margin: AZM's current net profit margins (33.6%) are higher than last year (29.1%).


Past Earnings Growth Analysis

Earnings Trend: AZM's earnings have grown significantly by 21.9% per year over the past 5 years.

Accelerating Growth: AZM's earnings growth over the past year (35.2%) exceeds its 5-year average (21.9% per year).

Earnings vs Industry: AZM earnings growth over the past year (35.2%) underperformed the Capital Markets industry 36%.


Return on Equity

High ROE: Whilst AZM's Return on Equity (52.79%) is outstanding, this metric is skewed due to their high level of debt.


Financial Health

How is Azimut Holding's financial position?


Financial Position Analysis

Short Term Liabilities: AZM's short term assets (€8.1B) exceed its short term liabilities (€586.1M).

Long Term Liabilities: AZM's short term assets (€8.1B) exceed its long term liabilities (€7.7B).


Debt to Equity History and Analysis

Debt Level: AZM's debt to equity ratio (100.2%) is considered high.

Reducing Debt: AZM's debt to equity ratio has increased from 35.6% to 100.2% over the past 5 years.

Debt Coverage: AZM's debt is well covered by operating cash flow (66.2%).

Interest Coverage: AZM's interest payments on its debt are well covered by EBIT (30.6x coverage).


Balance Sheet


Dividend

What is Azimut Holding current dividend yield, its reliability and sustainability?

4.04%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AZM's dividend (4.04%) is higher than the bottom 25% of dividend payers in the Italian market (1.02%).

High Dividend: AZM's dividend (4.04%) is in the top 25% of dividend payers in the Italian market (3.43%)


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 (29.8%), 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 well covered by earnings (47.8% payout ratio).


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Martini Paolo (48 yo)

2.5yrs

Tenure

€282,000

Compensation

Dr. Martini Paolo 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. Dr. Paolo serves...


CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Martini's total compensation is reasonable compared to companies of similar size in the Italian market.

Compensation vs Earnings: Insufficient data to compare Martini's compensation with company performance.


Leadership Team

Experienced Management: AZM's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: AZM's board of directors are considered experienced (3.7 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

Azimut Holding S.p.A.'s 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: €3.455b
  • Shares outstanding: 139.61m
  • Website: https://www.azimut.it

Number of Employees


Location

  • Azimut Holding S.p.A.
  • Via Cusani, 4
  • Milan
  • Milan
  • 20121
  • Italy

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/23 17:44
End of Day Share Price2021/10/22 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.