Executive Summary
Saipem SpA engages in the engineering, drilling, and construction of projects in the energy and infrastructure sectors worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential with adequate balance sheet.
Similar Companies
Share Price & News
How has Saipem's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SPM is more volatile than 75% of Italian stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: SPM's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of Italian stocks.
Market Performance
7 Day Return
-3.2%
SPM
-5.1%
IT Energy Services
-1.8%
IT Market
1 Year Return
-47.3%
SPM
-38.0%
IT Energy Services
-10.7%
IT Market
Return vs Industry: SPM underperformed the Italian Energy Services industry which returned -37.5% over the past year.
Return vs Market: SPM underperformed the Italian Market which returned -10.9% over the past year.
Shareholder returns
| SPM | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.2% | -5.1% | -1.8% |
| 30 Day | 8.0% | 3.2% | 0.5% |
| 90 Day | 62.9% | 39.7% | 14.3% |
| 1 Year | -47.0%-47.3% | -36.2%-38.0% | -7.9%-10.7% |
| 3 Year | -43.5%-43.8% | -53.7%-56.9% | -4.9%-14.8% |
| 5 Year | -62.2%-62.4% | -41.7%-57.0% | 25.4%-3.0% |
Long-Term Price Volatility Vs. Market
How volatile is Saipem's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
What Kind Of Shareholders Own Saipem SpA (BIT:SPM)?1 month ago | Simply Wall St
Would Shareholders Who Purchased Saipem's (BIT:SPM) Stock Five Years Be Happy With The Share price Today?2 months ago | Simply Wall St
Saipem SpA (BIT:SPM) Just Reported Third-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?Valuation
Is Saipem undervalued compared to its fair value and its price relative to the market?
0.77x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: SPM (€2.33) is trading above our estimate of fair value (€1.27)
Significantly Below Fair Value: SPM is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: SPM is unprofitable, so we can't compare its PE Ratio to the XE Energy Services industry average.
PE vs Market: SPM 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 SPM's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SPM's PB Ratio (0.8x) is in line with the XE Energy Services industry average.
Next Steps
Future Growth
How is Saipem forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?
82.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SPM is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).
Earnings vs Market: SPM is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: SPM's is expected to become profitable in the next 3 years.
Revenue vs Market: SPM's revenue (6.6% per year) is forecast to grow faster than the Italian market (3.1% per year).
High Growth Revenue: SPM's revenue (6.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SPM's Return on Equity is forecast to be low in 3 years time (4.4%).
Next Steps
Past Performance
How has Saipem performed over the past 5 years?
23.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SPM is currently unprofitable.
Growing Profit Margin: SPM is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: SPM is unprofitable, but has reduced losses over the past 5 years at a rate of 23.7% per year.
Accelerating Growth: Unable to compare SPM's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: SPM is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (-25.6%).
Return on Equity
High ROE: SPM has a negative Return on Equity (-32.77%), as it is currently unprofitable.
Next Steps
Financial Health
How is Saipem's financial position?
Financial Position Analysis
Short Term Liabilities: SPM's short term assets (€166.0M) do not cover its short term liabilities (€5.1B).
Long Term Liabilities: SPM's short term assets (€166.0M) do not cover its long term liabilities (€-3.5B).
Debt to Equity History and Analysis
Debt Level: SPM's debt to equity ratio (27%) is considered satisfactory.
Reducing Debt: SPM's debt to equity ratio has reduced from 210.5% to 27% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable SPM has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: SPM is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 24.3% per year.
Next Steps
Dividend
What is Saipem current dividend yield, its reliability and sustainability?
0.43%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SPM's dividend (0.43%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.42%).
High Dividend: SPM's dividend (0.43%) is low compared to the top 25% of dividend payers in the Italian market (4.56%).
Stability and Growth of Payments
Stable Dividend: SPM is not paying a notable dividend for the Italian market, therefore no need to check if payments are stable.
Growing Dividend: SPM 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: SPM is not paying a notable dividend for the Italian market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of SPM'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?
3.6yrs
Average management tenure
CEO
Stefano Cao (69 yo)
5.75yrs
Tenure
€618,000
Compensation
Mr. Stefano Cao has been the Chief Executive Officer and Director at Saipem SpA since April 30, 2015. Mr. Cao served as the Chief Executive Officer at Sintonia S.A. from February 2009 to July 2012. He serv...
CEO Compensation Analysis
Compensation vs Market: Stefano'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 Stefano's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 5.75yrs | €618.00k | no data | |
| Chief Financial Officer | 2.17yrs | no data | no data | |
| Corporate Head of M&A | no data | no data | no data | |
| Senior Vice President of Public Affairs & Communication | 4.42yrs | no data | no data | |
| Head of Offshore Drilling Division | no data | no data | no data | |
| Chief Operating Officer of the E&C Offshore Division | no data | no data | no data | |
| Digital Innovation Director & COO of XSIGHT Division | no data | no data | no data | |
| Manager of Internal Audit | no data | no data | no data | |
| COO of the On-shore Engineering & Construction Division | 2.83yrs | no data | no data | |
| Head of Drilling Onshore Division | no data | no data | no data |
3.6yrs
Average Tenure
51.5yo
Average Age
Experienced Management: SPM's management team is considered experienced (3.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 5.75yrs | €618.00k | no data | |
| Non-Executive & Independent Director | 2.67yrs | no data | no data | |
| Non-Executive & Independent Director | 2.67yrs | no data | no data | |
| Non-Executive & Non-Independent Director | no data | no data | no data | |
| Chairman of the Board of Auditors | 3.75yrs | €60.00k | no data | |
| Non-Executive & Independent Director | 5.75yrs | €53.00k | no data | |
| Independent Non-Executive Director | 5.75yrs | €49.00k | no data | |
| Non-Executive & Independent Director | 2.67yrs | no data | no data | |
| Statutory Auditor | 3.75yrs | no data | no data | |
| Statutory Auditors | 3.75yrs | no data | no data | |
| Non-Independent Chairman | 2.67yrs | no data | no data | |
| Non Independent Director | 0.92yr | no data | no data |
3.8yrs
Average Tenure
59yo
Average Age
Experienced Board: SPM's board of directors are considered experienced (3.8 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
Saipem SpA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Saipem SpA
- Ticker: SPM
- Exchange: BIT
- Founded:
- Industry: Oil and Gas Equipment and Services
- Sector: Energy
- Market Cap: €2.318b
- Shares outstanding: 993.43m
- Website: https://www.saipem.com
Number of Employees
Location
- Saipem SpA
- Via Martiri di Cefalonia 67
- San Donato Milanese
- Milan
- Milan
- 20097
- Italy
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SPMR | BIT (Borsa Italiana) | Saving Shares | IT | EUR | Jan 1987 | |
| 0RPJ | LSE (London Stock Exchange) | Saving Shares | GB | EUR | Jan 1987 | |
| SAPM.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| SPE1 | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| SPM | BIT (Borsa Italiana) | Yes | Ordinary Shares | IT | EUR | Jan 1992 |
| 0RPI | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jan 1992 |
| SPM | WBAG (Wiener Boerse AG) | Yes | Ordinary Shares | AT | EUR | Jan 1992 |
| SPMM | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jan 1992 |
| SAPM.Y | OTCPK (Pink Sheets LLC) | UNSPONSORED ADR | US | USD | Oct 2008 |
Biography
Saipem SpA engages in the engineering, drilling, and construction of projects in the energy and infrastructure sectors worldwide. The company operates through five divisions: Offshore Engineering & Constru...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/19 19:54 |
| End of Day Share Price | 2021/01/19 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.