BIT:EXO

Stock Analysis Report

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Executive Summary

Exor N.V., together with its subsidiaries, engages in the reinsurance, luxury goods, automotive, agricultural equipment, construction equipment, commercial vehicles, and professional football businesses. More Details


Snowflake Analysis

Very undervalued with questionable track record.

Share Price & News

How has Exor's share price performed over time and what events caused price changes?


Latest Share Price and Events

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

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


Market Performance


7 Day Return

3.6%

EXO

3.1%

IT Diversified Financial

2.6%

IT Market


1 Year Return

-15.4%

EXO

-16.5%

IT Diversified Financial

-8.6%

IT Market

Return vs Industry: EXO exceeded the Italian Diversified Financial industry which returned -17.4% over the past year.

Return vs Market: EXO underperformed the Italian Market which returned -9.5% over the past year.


Shareholder returns

EXOIndustryMarket
7 Day3.6%3.1%2.6%
30 Day33.5%30.3%22.6%
90 Day17.3%14.4%10.3%
1 Year-14.7%-15.4%-16.1%-16.5%-6.1%-8.6%
3 Year20.3%17.7%5.3%-1.2%2.3%-7.7%
5 Year47.0%41.4%30.4%22.8%7.8%-25.8%

Long-Term Price Volatility Vs. Market

How volatile is Exor's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

45.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EXO (€58.72) is trading below our estimate of fair value (€107.74)

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


Price To Earnings Ratio

PE vs Industry: EXO is good value based on its PE Ratio (6.3x) compared to the IT Diversified Financial industry average (9.9x).

PE vs Market: EXO is good value based on its PE Ratio (6.3x) compared to the Italian market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: EXO is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: EXO is good value based on its PB Ratio (1x) compared to the IT Diversified Financial industry average (2.1x).


Next Steps

Future Growth

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

15.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EXO's forecast earnings growth (15.9% per year) is above the savings rate (2%).

Earnings vs Market: EXO's earnings (15.9% per year) are forecast to grow slower than the Italian market (24.8% per year).

High Growth Earnings: EXO's earnings are forecast to grow, but not significantly.

Revenue vs Market: EXO's revenue is expected to decline over the next 3 years (-96.8% per year).

High Growth Revenue: EXO's revenue is forecast to decline over the next 3 years (-96.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EXO's Return on Equity is forecast to be low in 3 years time (10.7%).


Next Steps

Past Performance

How has Exor performed over the past 5 years?

22.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EXO has a large one-off loss of €1.6B impacting its June 30 2020 financial results.

Growing Profit Margin: EXO became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: EXO's earnings have grown significantly by 22.7% per year over the past 5 years.

Accelerating Growth: EXO has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: EXO has become profitable in the last year, making it difficult to compare its past year earnings growth to the Diversified Financial industry (-35.4%).


Return on Equity

High ROE: EXO's Return on Equity (-5.1%) is considered low.


Next Steps

Financial Health

How is Exor's financial position?


Financial Position Analysis

Short Term Liabilities: EXO's short term assets (€69.9B) exceed its short term liabilities (€36.8B).

Long Term Liabilities: EXO's short term assets (€69.9B) do not cover its long term liabilities (€93.5B).


Debt to Equity History and Analysis

Debt Level: EXO's debt to equity ratio (139.3%) is considered high.

Reducing Debt: EXO's debt to equity ratio has reduced from 261.1% to 139.3% over the past 5 years.

Debt Coverage: EXO's debt is not well covered by operating cash flow (2.1%).

Interest Coverage: EXO's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Exor current dividend yield, its reliability and sustainability?

0.73%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: EXO's dividend (0.73%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.53%).

High Dividend: EXO's dividend (0.73%) is low compared to the top 25% of dividend payers in the Italian market (4.83%).


Stability and Growth of Payments

Stable Dividend: EXO is not paying a notable dividend for the Italian market, therefore no need to check if payments are stable.

Growing Dividend: EXO is not paying a notable dividend for the Italian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: EXO is not paying a notable dividend for the Italian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of EXO's dividend in 3 years as they are not forecast to pay a notable one for the Italian market.


Next Steps

Management

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

4.0yrs

Average management tenure


CEO

John Elkann (44 yo)

9.75yrs

Tenure

€5,375,390

Compensation

Mr. John Jacob Philip Elkann has been an Executive Director of Fiat Chrysler Automobiles N.V. since December 1997. He has been the Chairman of Fiat Chrysler Automobiles N.V., since October 13, 2014. He has...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD6.43M) is about average for companies of similar size in the Italian market ($USD5.58M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
John Elkann
Chairman & CEO9.75yrs€5.38mno data
Noam Ohana
Managing Directorno datano datano data
Enrico Vellano
Chief Financial Officer14.83yrsno datano data
Maite Trenchs
Corporate Finance Investor Relator3.58yrsno datano data
Florence Hinnen
General Counsel3.92yrsno datano data
Gioia Caramellino
Head of Communication3.92yrsno datano data
Suzanne Heywood
Managing Directorno datano datano data
Matteo Scolari
Managing Director of Financial Investments4.17yrsno datano data
Gianluca Ferrero
Secretary to the Boardno data€75.00kno data
Nicoletta Paracchini
Statutory Auditorno data€41.50kno data

4.0yrs

Average Tenure

50yo

Average Age

Experienced Management: EXO's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Elkann
Chairman & CEO9.75yrs€5.38mno data
Joseph Bae
Independent Non-Executive Director2.5yrsno datano data
António de Sousa Horta-Osório
Independent Director5.5yrs€60.00k0.0016%
€ 223.9k
Marc Bolland
Senior Independent Non Executive Directorno data€50.00kno data
Pio Teodorani-Fabbri
Honorary Chairman8.5yrs€41.20kno data
Andrea Agnelli
Non-Independent Director14.5yrsno datano data
Melissa Bethell
Independent Non-Executive Director3.5yrs€70.00kno data
Laurence Debroux
Independent Director3.5yrs€65.00kno data
Alessandro Nasi
Vice Chairman8.5yrs€7.50kno data
Ginevra Elkann
Non-Independent Directorno datano datano data

5.5yrs

Average Tenure

46yo

Average Age

Experienced Board: EXO's board of directors are considered experienced (5.5 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

Exor N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Exor N.V.
  • Ticker: EXO
  • Exchange: BIT
  • Founded:
  • Industry: Multi-Sector Holdings
  • Sector: Diversified Financials
  • Market Cap: €13.570b
  • Shares outstanding: 231.10m
  • Website: https://www.exor.com

Number of Employees


Location

  • Exor N.V.
  • Gustav Mahlerplein 25
  • Amsterdam
  • Noord-Holland
  • 1082 MS
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EXOBIT (Borsa Italiana)YesOrdinary SharesITEURMar 2009
EXO1 NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNMar 2009
EYXDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 2009
EXXR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 2009
EXOMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMar 2009
0RKYLSE (London Stock Exchange)YesOrdinary SharesGBEURMar 2009
EXOWBAG (Wiener Boerse AG)YesOrdinary SharesATEURMar 2009

Biography

Exor N.V., together with its subsidiaries, engages in the reinsurance, luxury goods, automotive, agricultural equipment, construction equipment, commercial vehicles, and professional football businesses. T...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/28 19:52
End of Day Share Price2020/11/27 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.