BIT:EXO

Stock Analysis Report

Executive Summary

Exor N.V., through its subsidiaries, engages in the reinsurance, automotive, agricultural equipment, construction equipment and commercial vehicles, and football businesses.

Rewards

Earnings are forecast to grow 24.13% per year

Risk Analysis

No risks detected for EXO from our risk checks.


Snowflake Analysis

High growth potential and overvalued.

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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.4%

EXO

1.0%

IT Diversified Financial

0.6%

IT Market


1 Year Return

30.8%

EXO

31.8%

IT Diversified Financial

16.9%

IT Market

Return vs Industry: EXO underperformed the Italian Diversified Financial industry which returned 31.9% over the past year.

Return vs Market: EXO exceeded the Italian Market which returned 18.6% over the past year.


Shareholder returns

EXOIndustryMarket
7 Day2.4%1.0%0.6%
30 Day1.2%0.3%0.1%
90 Day15.6%13.4%6.1%
1 Year31.7%30.8%35.2%31.8%22.1%16.9%
3 Year76.4%72.9%55.3%43.4%27.0%8.8%
5 Yearn/a72.3%51.7%23.4%-18.1%

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?

1.18x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: EXO (€70.96) is trading above our estimate of fair value (€59.67)

Significantly Below Fair Value: EXO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: EXO is unprofitable, so we can't compare its PE Ratio to the Diversified Financial industry average.

PE vs Market: EXO is unprofitable, so we can't compare its PE Ratio to the Italian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EXO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EXO is good value based on its PB Ratio (1.2x) compared to the IT Diversified Financial industry average (2.8x).


Next Steps

Future Growth

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

24.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EXO is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.2%).

Earnings vs Market: EXO is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: EXO's is expected to become profitable in the next 3 years.

Revenue vs Market: EXO's revenue (29.8% per year) is forecast to grow faster than the Italian market (3.8% per year).

High Growth Revenue: EXO's revenue (29.8% per year) is forecast to grow faster than 20% 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 (11.7%).


Next Steps

Past Performance

How has Exor performed over the past 5 years?

8.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EXO is currently unprofitable.

Growing Profit Margin: EXO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: EXO is unprofitable, but has reduced losses over the past 5 years at a rate of 8.9% per year.

Accelerating Growth: Unable to compare EXO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: EXO is unprofitable, making it difficult to compare its past year earnings growth to the Diversified Financial industry (10.5%).


Return on Equity

High ROE: EXO has a negative Return on Equity (13.15%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Exor'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: EXO has a high level of physical assets or inventory.

Debt Coverage by Assets: EXO's debt is covered by short term assets (assets are 1.5x debt).


Financial Institutions Analysis

Asset Level: EXO's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if EXO has a sufficient allowance for bad loans.

Low Risk Liabilities: EXO reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if EXO has an acceptable proportion of non-loan assets held.

Low Risk Deposits: EXO has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if EXO has an appropriate level of bad loans.


Next Steps

Dividend

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

0.60%

Current Dividend Yield


Dividend Yield vs Market

company0.6%marketbottom25%2.0%markettop25%4.1%industryaverage2.4%forecastin3Years0.7%

Current dividend yield vs market & industry

Notable Dividend: EXO's dividend (0.61%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.97%).

High Dividend: EXO's dividend (0.61%) is low compared to the top 25% of dividend payers in the Italian market (4.19%).


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

What is the CEO of Exor's salary, the management and board of directors tenure and is there insider trading?

3.3yrs

Average management tenure


CEO

John Elkann (43yo)

8.9yrs

Tenure

€5,421,511

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 ($USD6.03M) is above average for companies of similar size in the Italian market ($USD3.69M).

Compensation vs Earnings: John's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

3.3yrs

Average Tenure

49yo

Average Age

Experienced Management: EXO's management team is considered experienced (3.3 years average tenure).


Board Age and Tenure

4.7yrs

Average Tenure

45yo

Average Age

Experienced Board: EXO's board of directors are considered experienced (4.7 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Sell€151,62926 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares2,510
Max Price€60.41
Buy€50,12526 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares2,510
Max Price€19.97
Sell€181,59025 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares3,000
Max Price€60.53
Buy€59,91025 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares3,000
Max Price€19.97
Sell€304,30024 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares5,000
Max Price€60.86
Buy€99,85024 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares5,000
Max Price€19.97
Sell€9,728,00021 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares160,000
Max Price€60.80
Sell€8,362,73020 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares137,049
Max Price€61.02
Sell€6,661,04518 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares109,701
Max Price€60.72
Sell€931,90113 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares15,511
Max Price€60.08
Buy€817,99111 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares40,961
Max Price€19.97
Sell€2,461,75611 Jun 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares40,961
Max Price€60.10
Sell€172,25730 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares2,870
Max Price€60.02
Buy€57,31430 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares2,870
Max Price€19.97
Sell€784,48329 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares13,066
Max Price€60.04
Buy€260,92829 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares13,066
Max Price€19.97
Sell€638,39226 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares10,631
Max Price€60.05
Buy€212,30126 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares10,631
Max Price€19.97
Sell€1,193,20024 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares20,000
Max Price€59.66
Buy€399,40024 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares20,000
Max Price€19.97
Sell€1,196,40023 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares20,000
Max Price€59.82
Buy€399,40023 Apr 19
John Elkann
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares20,000
Max Price€19.97

Ownership Breakdown

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


Management Team

  • John Elkann (43yo)

    Chairman & CEO

    • Tenure: 8.9yrs
    • Compensation: €5.42m
  • Gianluca Ferrero (56yo)

    Secretary to the Board

    • Compensation: €75.00k
  • Enrico Vellano (52yo)

    Chief Financial Officer

    • Tenure: 14yrs
  • Matteo Scolari (49yo)

    Managing Director of Financial Investments

    • Tenure: 3.3yrs
  • Noam Ohana

    Managing Director

    • Nicoletta Paracchini

      Statutory Auditor

      • Compensation: €41.50k
    • Suzanne Heywood (50yo)

      Managing Director of Direct Investments

      • Tenure: 3.3yrs
    • Florence Hinnen

      General Counsel

      • Tenure: 3.1yrs
    • Gioia Caramellino (38yo)

      Head of Communication

      • Tenure: 3.1yrs
    • Maite Trenchs (30yo)

      Corporate Finance Investor Relator

      • Tenure: 2.8yrs

    Board Members

    • John Elkann (43yo)

      Chairman & CEO

      • Tenure: 8.9yrs
      • Compensation: €5.42m
    • Joe Bae (47yo)

      Independent Non-Executive Director

      • Tenure: 1.7yrs
    • António de Sousa Horta-Osório (55yo)

      Independent Director

      • Tenure: 4.7yrs
      • Compensation: €55.83k
    • Marc Bolland (60yo)

      Senior Non Executive Director

      • Compensation: €58.33k
    • Pio Teodorani-Fabbri

      Honorary Chairman

      • Tenure: 7.7yrs
      • Compensation: €41.20k
    • Andrea Agnelli (44yo)

      Non-Independent Director

      • Tenure: 13.7yrs
    • Melissa Bethell (45yo)

      Independent Non-Executive Director

      • Tenure: 2.7yrs
      • Compensation: €61.67k
    • Laurence Debroux (50yo)

      Independent Director

      • Tenure: 2.7yrs
      • Compensation: €58.75k
    • Alessandro Nasi (45yo)

      Vice Chairman

      • Tenure: 7.7yrs
      • Compensation: €7.50k
    • Ginevra Elkann (40yo)

      Non-Independent Director

      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: €16.669b
      • Shares outstanding: 231.58m
      • 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 SharesITEURApr 2012
      EXO1 NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNApr 2012
      EYXDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2012
      EXXR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 2012
      EXOMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 2012
      0RKYLSE (London Stock Exchange)YesOrdinary SharesGBEURApr 2012
      EXOWBAG (Wiener Boerse AG)YesOrdinary SharesATEURApr 2012

      Biography

      Exor N.V., through its subsidiaries, engages in the reinsurance, automotive, agricultural equipment, construction equipment and commercial vehicles, and football businesses. The company reinsures agriculture, aviation/space, casualty, catastrophe, energy, engineering, financial, marine, motor, multiline, and property risks, as well as offers mortality, longevity, accident and health, and alternative risk products. It also provides vehicles for the mass-market under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brands, as well as the SRT performance vehicles; luxury vehicles under the Maserati brand; related service parts and accessories, as well as service contracts under the Mopar brand for the mass-market; and retail and dealer financing, leasing, and rental services. In addition, the company operates in the components and production systems sectors under the Teksid and Comau brands; designs, engineers, produces, and sells luxury performance sports cars under the Ferrari brand; and manages professional football teams. Further it designs, produces, markets, sells, and finances agricultural and construction equipment under the Case and New Holland brands; trucks, commercial vehicles, and buses; and firefighting, defense, and other vehicles under the Iveco brand; and engines, axles, and transmissions solutions for on-road, off-road, marine, and power generation applications. Additionally, the company publishes The Economist newspaper and Website, as well as The World In…, Espresso, Economist Films, Economist Radio, and 1843; and offers magazines, conference and electronic services, and research and analysis services. It operates in the Netherlands, the United States, Brazil, Canada, Poland, Serbia, Turkey, Mexico, Argentina, the Czech Republic, India, China, Australia, South Africa, and internationally. The company is based in Amsterdam, the Netherlands. Exor N.V. is a subsidiary of Giovanni Agnelli B.V. 


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2020/01/20 22:26
      End of Day Share Price2020/01/20 00:00
      Earnings2019/06/30
      Annual Earnings2018/12/31


      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.