Azimut Holding
Market Cap
€3.3b
Last Updated
2020/01/26 20:33 UTC
Data Sources
Company Financials +
Executive Summary
Azimut Holding S.p.A., together with its subsidiaries, distributes, manages, and promotes financial and insurance products.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -13.7% per year for the next 3 years
Snowflake Analysis
Outstanding track record average 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
-0.3%
AZM
-0.5%
IT Capital Markets
-0.8%
IT Market
1 Year Return
115.2%
AZM
56.7%
IT Capital Markets
15.5%
IT Market
Return vs Industry: AZM exceeded the Italian Capital Markets industry which returned 66% over the past year.
Return vs Market: AZM exceeded the Italian Market which returned 18.6% over the past year.
Shareholder returns
| AZM | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.3% | -0.5% | -0.8% |
| 30 Day | 11.3% | 5.7% | 0.1% |
| 90 Day | 27.6% | 15.3% | 5.4% |
| 1 Year | 131.4%115.2% | 65.0%56.7% | 20.6%15.5% |
| 3 Year | 62.4%34.9% | 30.0%7.8% | 26.9%8.4% |
| 5 Year | 54.6%14.1% | 9.9%-17.4% | 24.0%-17.4% |
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
6 days ago | Simply Wall St
Is Azimut Holding S.p.A. (BIT:AZM) A Strong Dividend Stock?3 weeks ago | Simply Wall St
Is Now An Opportune Moment To Examine Azimut Holding S.p.A. (BIT:AZM)?1 month ago | Simply Wall St
Here's Why I Think Azimut Holding (BIT:AZM) Might Deserve Your Attention TodayValuation
Is Azimut Holding undervalued compared to its fair value and its price relative to the market?
4.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AZM (€23.6) is trading below our estimate of fair value (€24.57)
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 (14.9x) compared to the Capital Markets industry average (26.3x).
PE vs Market: AZM is good value based on its PE Ratio (14.9x) compared to the Italian market (18.7x).
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 (5.8x) compared to the IT Capital Markets industry average (1x).
Next Steps
Future Growth
How is Azimut Holding forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
-11.7%
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 (-13.7% per year).
Earnings vs Market: AZM's earnings are forecast to decline over the next 3 years (-13.7% per year).
High Growth Earnings: AZM's earnings are forecast to decline over the next 3 years.
Revenue vs Market: AZM's revenue is expected to decline over the next 3 years (-1.2% per year).
High Growth Revenue: AZM's revenue is forecast to decline over the next 3 years (-1.2% 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 (30.4%)
Next Steps
Past Performance
How has Azimut Holding performed over the past 5 years?
4.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AZM has high quality earnings.
Growing Profit Margin: AZM's current net profit margins (24.2%) are higher than last year (18.9%).
Past Earnings Growth Analysis
Earnings Trend: AZM's earnings have grown by 4.7% per year over the past 5 years.
Accelerating Growth: AZM's earnings growth over the past year (50.9%) exceeds its 5-year average (4.7% per year).
Earnings vs Industry: AZM earnings growth over the past year (50.9%) exceeded the Capital Markets industry 0.3%.
Return on Equity
High ROE: AZM's Return on Equity (40.4%) is considered outstanding.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Azimut Holding's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: AZM has a low level of unsold assets or inventory.
Debt Coverage by Assets: AZM's debt is covered by short term assets (assets are 11.3x debt).
Financial Institutions Analysis
Asset Level: AZM's level of assets compared to its equity is moderate.
Allowance for Bad Loans: Insufficient data to determine if AZM has a sufficient allowance for bad loans.
Low Risk Liabilities: AZM reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if AZM has an acceptable proportion of non-loan assets held.
Low Risk Deposits: AZM has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if AZM has an appropriate level of bad loans.
Next Steps
Dividend
What is Azimut Holding's current dividend yield, its reliability and sustainability?
6.36%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: AZM's dividend (6.29%) is higher than the bottom 25% of dividend payers in the Italian market (1.97%).
High Dividend: AZM's dividend (6.29%) is in the top 25% of dividend payers in the Italian market (4.19%)
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 high payout ratio (93.8%), AZM's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AZM's dividends in 3 years are forecast to be covered by earnings (76.2% payout ratio).
Next Steps
Management
What is the CEO of Azimut Holding's salary, the management and board of directors tenure and is there insider trading?
0.8yrs
Average management tenure
CEO
Paolo Martini 0
0.8yrs
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 ($USD0.00) is below average for companies of similar size in the Italian market ($USD1.68M).
Compensation vs Earnings: Insufficient data to compare Paolo's compensation with company performance.
Management Age and Tenure
0.8yrs
Average Tenure
Experienced Management: AZM's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Insider Trading
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 been diluted in the past year, with total shares outstanding growing by 5.5%.
Management Team
Stefano Missora
Group Commercial Director
- Compensation: €555.10k
Giorgio Medda
Global Head of Asset Management
Andrea Aliberti (50yo)
Head of Asset Management -Italy
- Tenure: 0.8yrs
Massimo Guiati
CEO, Global Head of Distribution & Director
Claudio Foscoli
Head of Asset Management for Luxembourg & Ireland
- Tenure: 0.8yrs
Paolo Martini
CEO, General Manager
- Tenure: 0.8yrs
- Compensation: €282.00k
Gabriele Blei
CEO & Director
- Tenure: 1.1yrs
Vittorio Pracca
Head of Investor Relations
Alessandro Zambotti
CEO, Head of Administration & Finance
- Tenure: 2.8yrs
Board Members
Pietro Giuliani (63yo)
Chairman
- Compensation: €1.06m
Giorgio Medda
Global Head of Asset Management
Massimo Guiati
CEO, Global Head of Distribution & Director
Vittorio Rocchetti
Chairman of the Board of Statutory Auditors
Paolo Martini
CEO, General Manager
- Tenure: 0.8yrs
- Compensation: €282.00k
Gabriele Blei
CEO & Director
- Tenure: 1.1yrs
Anna Bortolotti
Director
Antonio Monari
Director
Raffaella Pagani
Director
Alessandro Zambotti
CEO, Head of Administration & Finance
- Tenure: 2.8yrs
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: €3.326b
- Shares outstanding: 140.94m
- 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, investment portfolio individual management, insurance mediation, and financial planning consultancy services; invests in the digital sector; and manages Italian, pension, alternative, discretionary, and private equity funds. It has operations in Italy, Luxembourg, Ireland, China, Monaco, Switzerland, Singapore, Brazil, Mexico, Taiwan, Chile, the United States, Australia, Turkey, and the United Arab Emirates. The company was founded in 1989 and is headquartered in Milan, Italy.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/26 20:33 |
| End of Day Share Price | 2020/01/24 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.