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BFF

BFF Bank BIT:BFF Stock Report

Last Price

€6.68

Market Cap

€1.2b

7D

1.6%

1Y

-21.0%

Updated

26 Jun, 2022

Data

Company Financials +
BFF fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance1/6
Financial Health5/6
Dividends3/6

BFF Stock Overview

BFF Bank S.p.A. provides financial services to suppliers of the national health system and public administration sector in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, the Slovak Republic, and Spain.

BFF Bank Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for BFF Bank
Historical stock prices
Current Share Price€6.68
52 Week High€9.00
52 Week Low€5.16
Beta1.08
1 Month Change-8.93%
3 Month Change-0.075%
1 Year Change-20.99%
3 Year Change36.33%
5 Year Change33.60%
Change since IPO61.35%

Recent News & Updates

Apr 05
Do BFF Bank's (BIT:BFF) Earnings Warrant Your Attention?

Do BFF Bank's (BIT:BFF) Earnings Warrant Your Attention?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Shareholder Returns

BFFIT Diversified FinancialIT Market
7D1.6%2.4%1.1%
1Y-21.0%-12.0%-15.6%

Return vs Industry: BFF underperformed the Italian Diversified Financial industry which returned -12% over the past year.

Return vs Market: BFF underperformed the Italian Market which returned -15.6% over the past year.

Price Volatility

Is BFF's price volatile compared to industry and market?
BFF volatility
BFF Average Weekly Movement5.1%
Diversified Financial Industry Average Movement4.5%
Market Average Movement5.1%
10% most volatile stocks in IT Market7.1%
10% least volatile stocks in IT Market3.3%

Stable Share Price: BFF is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: BFF's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1985878Max Belingherihttps://www.bff.com

BFF Bank S.p.A. provides financial services to suppliers of the national health system and public administration sector in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, the Slovak Republic, and Spain. It operates through Factoring & Lending, Securities Services, and Payment Services segments. The Factoring & Lending segment offers non-recourse factoring, lending, and credit management services to public sector suppliers and public administration bodies.

BFF Bank Fundamentals Summary

How do BFF Bank's earnings and revenue compare to its market cap?
BFF fundamental statistics
Market Cap€1.23b
Earnings (TTM)€44.38m
Revenue (TTM)€351.91m

27.8x

P/E Ratio

3.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BFF income statement (TTM)
Revenue€351.91m
Cost of Revenue€40.38m
Gross Profit€311.54m
Other Expenses€267.16m
Earnings€44.38m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 04, 2022

Earnings per share (EPS)0.24
Gross Margin88.53%
Net Profit Margin12.61%
Debt/Equity Ratio17.4%

How did BFF perform over the long term?

See historical performance and comparison

Dividends

20.3%

Current Dividend Yield

654%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

BFF 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/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1.3x

Price to Earnings Ratio vs Peers

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

BFF PE Ratio vs Peers
The above table shows the PE ratio for BFF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25.3x

Price-To-Earnings vs Peers: BFF is expensive based on its Price-To-Earnings Ratio (27.8x) compared to the peer average (25.3x).


Price to Earnings Ratio vs Industry

How does BFF's PE Ratio compare vs other companies in the Diversified Financial Industry?

Price-To-Earnings vs Industry: BFF is expensive based on its Price-To-Earnings Ratio (27.8x) compared to the Italian Diversified Financial industry average (12.3x)


Price to Earnings Ratio vs Fair Ratio

What is BFF'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.

BFF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.8x
Fair PE Ratio22.4x

Price-To-Earnings vs Fair Ratio: BFF is expensive based on its Price-To-Earnings Ratio (27.8x) compared to the estimated Fair Price-To-Earnings Ratio (22.4x).


Share Price vs Fair Value

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

Below Fair Value: BFF (€6.68) is trading below our estimate of fair value (€14.28)

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


Price to Earnings Growth Ratio

PEG Ratio: BFF is poor value based on its PEG Ratio (1.3x)


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Future Growth

How is BFF Bank forecast to perform in the next 1 to 3 years based on estimates from 5 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


21.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BFF's forecast earnings growth (21.4% per year) is above the savings rate (1.7%).

Earnings vs Market: BFF's earnings (21.4% per year) are forecast to grow faster than the Italian market (10.2% per year).

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

Revenue vs Market: BFF's revenue (9.7% per year) is forecast to grow faster than the Italian market (0.3% per year).

High Growth Revenue: BFF's revenue (9.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BFF's Return on Equity is forecast to be high in 3 years time (31.9%)


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Past Performance

How has BFF Bank performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


18.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BFF has a large one-off gain of €61.6M impacting its March 31 2022 financial results.

Growing Profit Margin: BFF's current net profit margins (12.6%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: BFF's earnings have grown by 18% per year over the past 5 years.

Accelerating Growth: BFF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BFF had negative earnings growth (-82.4%) over the past year, making it difficult to compare to the Diversified Financial industry average (40%).


Return on Equity

High ROE: BFF's Return on Equity (7.1%) is considered low.


Discover strong past performing companies

Financial Health

How is BFF Bank'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: BFF's short term assets (€11.8B) exceed its short term liabilities (€10.7B).

Long Term Liabilities: BFF's short term assets (€11.8B) exceed its long term liabilities (€809.6M).


Debt to Equity History and Analysis

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

Reducing Debt: BFF's debt to equity ratio has reduced from 251.2% to 17.4% over the past 5 years.

Debt Coverage: BFF's debt is well covered by operating cash flow (488.1%).

Interest Coverage: Insufficient data to determine if BFF's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is BFF Bank current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


20.34%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BFF's dividend (20.34%) is higher than the bottom 25% of dividend payers in the Italian market (1.71%).

High Dividend: BFF's dividend (20.34%) is in the top 25% of dividend payers in the Italian market (5.19%)


Stability and Growth of Payments

Stable Dividend: BFF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BFF's dividend payments have increased, but the company has only paid a dividend for 4 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (653.7%), BFF's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (53.1%), BFF's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

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

3.3yrs

Average board tenure


CEO

Max Belingheri (47 yo)

8.5yrs

Tenure

Mr. Massimiliano Belingheri, also known as Max, serves as Chief Executive Officer at BFF Bank S.p.A. (formerly known as Banca Farmafactoring S.p.A.) Mr. Belingheri has been Vice-Chairman of Supervisory Boa...


Board Members

Experienced Board: BFF's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BFF insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

BFF Bank S.p.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: BFF Bank S.p.A.
  • Ticker: BFF
  • Exchange: BIT
  • Founded: 1985
  • Industry: Specialized Finance
  • Sector: Diversified Financials
  • Implied Market Cap: €1.233b
  • Shares outstanding: 184.55m
  • Website: https://www.bff.com

Number of Employees


Location

  • BFF Bank S.p.A.
  • Via Domenichino 5
  • Milan
  • Milan
  • 20149
  • Italy

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
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.