BIT:CPR

Stock Analysis Report

Executive Summary

Davide Campari-Milano S.p.A., together with its subsidiaries, manufactures and trades in alcoholic and non-alcoholic beverages in the Americas, Europe, the Middle East, Africa, Europe, and the Asia-Pacific.

Snowflake

Fundamentals

Moderate growth potential with acceptable track record.


Similar Companies

Share Price & News

How has Davide Campari-Milano's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.6%

CPR

-1.8%

IT Beverage

0.6%

IT Market


1 Year Return

23.5%

CPR

18.5%

IT Beverage

15.3%

IT Market

Return vs Industry: CPR exceeded the Italian Beverage industry which returned 18.5% over the past year.

Return vs Market: CPR exceeded the Italian Market which returned 15.3% over the past year.


Shareholder returns

CPRIndustryMarket
7 Day-4.6%-1.8%0.6%
30 Day-3.1%-3.5%1.0%
90 Day-6.6%-3.8%1.0%
1 Year24.2%23.5%20.9%18.5%20.6%15.3%
3 Year76.3%72.6%12.0%4.9%27.0%8.2%
5 Year198.2%185.6%49.4%33.6%21.3%-26.1%

Price Volatility Vs. Market

How volatile is Davide Campari-Milano's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Davide Campari-Milano undervalued compared to its fair value and its price relative to the market?

33.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CPR (€7.98) is trading above our estimate of fair value (€4.67)

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


Price To Earnings Ratio

PE vs Industry: CPR is poor value based on its PE Ratio (33.6x) compared to the Beverage industry average (22.6x).

PE vs Market: CPR is poor value based on its PE Ratio (33.6x) compared to the Italian market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: CPR is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: CPR is overvalued based on its PB Ratio (4.1x) compared to the XE Beverage industry average (1.9x).


Next Steps

Future Growth

How is Davide Campari-Milano forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?

10.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CPR's forecast earnings growth (10.1% per year) is above the savings rate (2.9%).

Earnings vs Market: CPR's earnings (10.1% per year) are forecast to grow faster than the Italian market (8.4% per year).

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

Revenue vs Market: CPR's revenue (6.3% per year) is forecast to grow faster than the Italian market (3% per year).

High Growth Revenue: CPR's revenue (6.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CPR's Return on Equity is forecast to be low in 3 years time (12.9%).


Next Steps

Past Performance

How has Davide Campari-Milano performed over the past 5 years?

20.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CPR's earnings have grown significantly by 20.9% per year over the past 5 years.

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

Earnings vs Industry: CPR had negative earnings growth (-31.2%) over the past year, making it difficult to compare to the Beverage industry average (3.3%).


Return on Equity

High ROE: CPR's Return on Equity (12.1%) is considered low.


Return on Assets

ROA vs Industry: CPR has a higher Return on Assets than the Beverage industry average last year.


Return on Capital Employed

ROCE Improving: CPR has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Davide Campari-Milano's financial position?


Financial Position Analysis

Short Term Liabilities: CPR's short term assets (€1.8B) exceeds its short term liabilities (€677.7M)

Long Term Liabilities: CPR's short term assets (1.8B) do not cover its long term liabilities (2.0B)


Debt to Equity History and Analysis

Debt Level: CPR's debt to equity ratio (73.2%) is considered high

Reducing Debt: CPR's debt to equity ratio has reduced from 99.3% to 73.2% over the past 5 years.

Debt Coverage: CPR's debt is not well covered by operating cash flow (18.7%).

Interest Coverage: CPR's interest payments on its debt are well covered by EBIT (13.7x coverage).


Balance Sheet

Inventory Level: CPR has a high level of physical assets or inventory.

Debt Coverage by Assets: CPR's debt is covered by short term assets (assets are 1.1x debt).


Next Steps

Dividend

What is Davide Campari-Milano's current dividend yield, its reliability and sustainability?

0.63%

Current Dividend Yield


Dividend Yield vs Market

company0.6%marketbottom25%2.1%markettop25%4.4%industryaverage2.1%forecastin3Years0.7%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CPR's dividend (0.63%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (2.08%).

High Dividend: CPR's dividend (0.63%) is low compared to the top 25% of dividend payers in the Italian market (4.4%).

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

Growing Dividend: CPR 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: CPR is not paying a notable dividend for the Italian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CPR'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 Davide Campari-Milano's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Bob Kunze-Concewitz (52yo)

0.8yrs

Tenure

€4,229,945

Compensation

Mr. Robert Kunze-Concew, also known as Bob, has been Chief Executive Officer of Austin, Nichols Distilling Co., Inc. since May 2007. Mr. Kunze-Concew has been Chief Executive Officer of Davide Campari - Mi ...


CEO Compensation Analysis

Compensation vs. Market: Bob's total compensation ($USD0.00) is too low to compare against companies of similar size in the Italian market ($USD851.68K).

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


Management Age and Tenure

3.8yrs

Average Tenure

52.5yo

Average Age

Experienced Management: CPR's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

3.5yrs

Average Tenure

52yo

Average Age

Experienced Board: CPR's board of directors are considered experienced (3.5 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€1,086,25120 Nov 18
Luca Garavoglia
EntityIndividual
Role
Chairman of the Board
Non-Executive Chairman
Shares145,690
Max Price€7.57
Buy€1,081,06420 Nov 18
Luca Garavoglia
EntityIndividual
Role
Chairman of the Board
Non-Executive Chairman
Shares145,690
Max Price€7.74

Ownership Breakdown


Management Team

  • Paolo Marchesini (52yo)

    MD, CFO & Executive Director

    • Tenure: 9.5yrs
    • Compensation: €2.62m
  • Bob Kunze-Concewitz (52yo)

    MD, CEO & Executive Director

    • Tenure: 0.8yrs
    • Compensation: €4.23m
  • Gaspare Campari

    • Tenure: 0yrs
  • Franco Peroni (53yo)

    Managing Director Asia-Pacific

    • Tenure: 6.3yrs
  • Giorgio Pivetta (58yo)

    Head of Group Human Resources

    • Tenure: 3.8yrs
  • Stefan Jensen (57yo)

    Head of Group Commercial Capabilities

    • Tenure: 10.5yrs
  • Fabio Di Fede (47yo)

    Group General Counsel

    • Tenure: 0.5yrs
  • Sascha Cumia (49yo)

    Managing Director of Southern Europe

    • Tenure: 0.8yrs
  • Cesare Vandini (56yo)

    Managing Director Northern

    • Tenure: 8.8yrs
  • Christopher Woods

    Head of IT

    • Tenure: 3.1yrs

Board Members

  • Luca Garavoglia (50yo)

    Non-Executive Chairman

    • Tenure: 25.1yrs
    • Compensation: €1.83m
  • Marco Perelli-Cippo

    Honorary Chairman

    • Tenure: 0yrs
    • Compensation: €25.00k
  • Paolo Marchesini (52yo)

    MD, CFO & Executive Director

    • Tenure: 9.5yrs
    • Compensation: €2.62m
  • Catherine Yvonne Gérardin-Vautrin (60yo)

    Independent Director

    • Tenure: 3.5yrs
  • Bob Kunze-Concewitz (52yo)

    MD, CEO & Executive Director

    • Tenure: 0.8yrs
    • Compensation: €4.23m
  • Eugenio Barcellona

    Director

    • Tenure: 9.5yrs
    • Compensation: €62.50k
  • Fabio Di Fede (47yo)

    Group General Counsel

    • Tenure: 0.5yrs
  • Annalisa Loustau

    Independent Director

    • Tenure: 3.5yrs
  • Ines Gandini

    Chairman of Board of Statutory Auditors

    • Tenure: 0.8yrs
  • Alessandra Garavoglia

    Director

    • Tenure: 0.5yrs

Company Information

Davide Campari-Milano S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Davide Campari-Milano S.p.A.
  • Ticker: CPR
  • Exchange: BIT
  • Founded: 1860
  • Industry: Distillers and Vintners
  • Sector: Food, Beverage & Tobacco
  • Market Cap: €9.185b
  • Shares outstanding: 1.15b
  • Website: https://www.camparigroup.com

Number of Employees


Location

  • Davide Campari-Milano S.p.A.
  • Via Franco Sacchetti, 20
  • Sesto San Giovanni
  • Milan
  • 20099
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CPRBIT (Borsa Italiana)YesOrdinary SharesITEURJul 2001
DVDC.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 2001
0ROYLSE (London Stock Exchange)YesOrdinary SharesGBEURJul 2001
DVC3DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2001
CPRWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJul 2001
DVDC.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDApr 2004

Biography

Davide Campari-Milano S.p.A., together with its subsidiaries, manufactures and trades in alcoholic and non-alcoholic beverages in the Americas, Europe, the Middle East, Africa, Europe, and the Asia-Pacific ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 20:52
End of Day Share Price2019/10/23 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.