Price Target Changed • Jun 10
Price target increased by 7.1% to €30.35 Up from €28.35, the current price target is an average from 2 analysts. New target price is 82% above last closing price of €16.70. Stock is down 10% over the past year. The company is forecast to post earnings per share of €4.17 for next year compared to €4.20 last year. New Risk • May 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€61.6m market cap, or US$72.1m). Price Target Changed • Apr 28
Price target decreased by 8.8% to €28.35 Down from €31.10, the current price target is an average from 2 analysts. New target price is 50% above last closing price of €18.90. Stock is up 11% over the past year. Upcoming Dividend • Apr 27
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 06 May 2026. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (5.5%). Announcement • Apr 16
First Capital S.p.A., Annual General Meeting, May 05, 2026 First Capital S.p.A., Annual General Meeting, May 05, 2026, at 11:00 W. Europe Standard Time. Location: viale luigi majno 17a, milano Italy New Risk • Apr 12
New major risk - Revenue and earnings growth Earnings have declined by 23% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€55.9m market cap, or US$65.6m). Recent Insider Transactions • Dec 10
Executive Director recently sold €141k worth of stock On the 3rd of December, Vincenzo Polidoro sold around 7k shares on-market at roughly €21.40 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €162k more than they bought in the last 12 months. Upcoming Dividend • Dec 08
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 15 December 2025. Payment date: 17 December 2025. Payout ratio is a comfortable 8.5% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Italian dividend payers (4.8%). Lower than average of industry peers (5.1%). Price Target Changed • Oct 13
Price target increased by 11% to €31.10 Up from €28.09, the current price target is an average from 2 analysts. New target price is 65% above last closing price of €18.80. Stock is up 26% over the past year. The company is forecast to post earnings per share of €0 next year compared to a net loss per share of €0.22 last year. Upcoming Dividend • May 19
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 26 May 2025. Payment date: 28 May 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Italian dividend payers (5.4%). Lower than average of industry peers (5.5%). New Risk • May 05
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: €3.7m (US$4.2m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 38% per year over the past 5 years. Minor Risks Revenue is less than US$5m (€3.7m revenue, or US$4.2m). Market cap is less than US$100m (€49.6m market cap, or US$56.0m). New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€49.0m market cap, or US$55.8m). Announcement • Apr 15
First Capital S.p.A., Annual General Meeting, Apr 29, 2025 First Capital S.p.A., Annual General Meeting, Apr 29, 2025, at 10:00 W. Europe Standard Time. Location: viale luigi majno 17 a, milano Italy Announcement • Apr 01
First Capital S.p.A. announces Annual dividend, payable on May 28, 2025 First Capital S.p.A. announced Annual dividend of EUR 0.3500 per share payable on May 28, 2025, ex-date on May 26, 2025 and record date on May 27, 2025. Price Target Changed • Mar 31
Price target increased by 9.8% to €28.20 Up from €25.69, the current price target is an average from 2 analysts. New target price is 58% above last closing price of €17.80. Stock is up 6.8% over the past year. The company is forecast to post earnings per share of €0 for next year compared to €0.91 last year. New Risk • Oct 01
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€44.9m market cap, or US$49.7m). New Risk • Jul 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Market cap is less than US$100m (€53.2m market cap, or US$57.5m). Upcoming Dividend • Jul 08
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 17 July 2024. Trailing yield: 1.9%. Lower than top quartile of Italian dividend payers (5.3%). Lower than average of industry peers (4.7%). New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.9% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (€2.0m revenue, or US$2.1m). Market cap is less than US$100m (€47.0m market cap, or US$49.9m). Price Target Changed • Nov 22
Price target decreased by 8.7% to €25.20 Down from €27.60, the current price target is an average from 2 analysts. New target price is 41% above last closing price of €17.90. Stock is down 11% over the past year. The company posted a net loss per share of €3.21 last year. New Risk • Oct 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.9% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Revenue is less than US$5m (€2.0m revenue, or US$2.1m). Market cap is less than US$100m (€48.4m market cap, or US$51.2m). New Risk • Oct 05
New major risk - Revenue and earnings growth Earnings have declined by 8.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.9% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Revenue is less than US$5m (€2.0m revenue, or US$2.1m). Market cap is less than US$100m (€48.6m market cap, or US$51.1m). Announcement • Aug 09
LBM Next S.P.A. made a bid to acquire 4.9% stake in Labomar S.p.A. (BIT:LBM) from First Capital S.p.A. (BIT:FIC) for €9 million. LBM Next S.P.A. made a bid to acquire 4.9% stake in Labomar S.p.A. (BIT:LBM) from First Capital S.p.A. (BIT:FIC) for €9 million on August 7, 2023. Upcoming Dividend • Jun 05
Upcoming dividend of €0.35 per share at 1.8% yield Eligible shareholders must have bought the stock before 12 June 2023. Payment date: 14 June 2023. Trailing yield: 1.8%. Lower than top quartile of Italian dividend payers (5.2%). Lower than average of industry peers (5.4%). Recent Insider Transactions Derivative • Nov 30
CEO & Director exercised options to buy €107k worth of stock. On the 24th of November, Vincenzo Polidoro exercised options to buy 6k shares at a strike price of around €20.80, costing a total of €114k. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. Since December 2021, Vincenzo's direct individual holding has decreased from 235.97k shares to 217.20k. Company insiders have collectively sold €280k more than they bought, via options and on-market transactions in the last 12 months. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Chairman of the Board of Statutory Auditors Walter Bonardi was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Oct 12
CEO & Director recently sold €394k worth of stock On the 6th of October, Vincenzo Polidoro sold around 19k shares on-market at roughly €21.00 per share. This transaction amounted to 8.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Vincenzo's only on-market trade for the last 12 months. Upcoming Dividend • May 09
Upcoming dividend of €0.035 per share Eligible shareholders must have bought the stock before 16 May 2022. Payment date: 18 May 2022. Trailing yield: 1.7%. Lower than top quartile of Italian dividend payers (4.8%). Lower than average of industry peers (5.9%). Price Target Changed • Apr 27
Price target decreased to €26.20 Down from €30.00, the current price target is provided by 1 analyst. New target price is 24% above last closing price of €21.10. Stock is down 6.6% over the past year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Chairman of the Board of Statutory Auditors Walter Bonardi was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 21
Price target decreased to €26.20 Down from €30.00, the current price target is provided by 1 analyst. New target price is 22% above last closing price of €21.40. Stock is down 4.5% over the past year. Buying Opportunity • Feb 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.3%. The fair value is estimated to be €27.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% per annum over the last 3 years. The company has become profitable over the last year. Buying Opportunity • Jan 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €27.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% per annum over the last 3 years. The company has become profitable over the last year. Announcement • Sep 24
First Capital S.p.A. announced that it has received €0.027823 million in funding from Next Holding S.p.A. First Capital S.p.A. announced a private placement of 24,000 first capital 3.75% Cv 2019-2026 convertible bonds at a price of €1.1593 per bond for gross proceeds of €27,823.20 on September 22, 2021. The bonds are carry a fixed coupon of 3.75% per annum. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 16% share price gain to €27.40, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 14x in the Capital Markets industry in Italy. Total returns to shareholders of 201% over the past three years. Upcoming Dividend • May 17
Upcoming dividend of €0.25 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 1.1%. Lower than top quartile of Italian dividend payers (3.8%). Lower than average of industry peers (4.2%). Is New 90 Day High Low • Feb 11
New 90-day high: €17.50 The company is up 46% from its price of €12.00 on 13 November 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 14
New 90-day high: €16.90 The company is up 47% from its price of €11.50 on 15 October 2020. The Italian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: €14.90 The company is up 32% from its price of €11.30 on 29 September 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: €14.10 The company is up 22% from its price of €11.60 on 04 September 2020. The Italian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: €12.30 The company is up 2.0% from its price of €12.10 on 20 August 2020. The Italian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: €10.40 The company is down 7.0% from its price of €11.20 on 30 July 2020. The Italian market is down 8.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Capital Markets industry, which is also down 7.0% over the same period. Is New 90 Day High Low • Sep 28
New 90-day low: €10.90 The company is down 1.0% from its price of €11.00 on 30 June 2020. The Italian market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 4.0% over the same period.