BIT:AMP

Stock Analysis Report

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Executive Summary

Amplifon S.p.A. provides hearing products and services that help people rediscover various emotions of sound. More Details


Snowflake Analysis

Reasonable growth potential with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: AMP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.8%

AMP

-1.1%

IT Healthcare

-2.0%

IT Market


1 Year Return

51.3%

AMP

44.9%

IT Healthcare

-15.4%

IT Market

Return vs Industry: AMP exceeded the Italian Healthcare industry which returned 40.3% over the past year.

Return vs Market: AMP exceeded the Italian Market which returned -14.9% over the past year.


Shareholder returns

AMPIndustryMarket
7 Day-0.8%-1.1%-2.0%
30 Day7.1%6.6%-2.1%
90 Day22.6%21.0%-6.6%
1 Year51.3%51.3%45.1%44.9%-13.2%-15.4%
3 Year165.5%161.7%-17.2%-21.1%-11.5%-19.7%
5 Year354.3%343.1%-6.8%-13.3%-7.5%-28.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

107.55x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AMP (€32.19) is trading above our estimate of fair value (€18.39)

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


Price To Earnings Ratio

PE vs Industry: AMP is poor value based on its PE Ratio (107.5x) compared to the XE Healthcare industry average (25.8x).

PE vs Market: AMP is poor value based on its PE Ratio (107.5x) compared to the Italian market (17x).


Price to Earnings Growth Ratio

PEG Ratio: AMP is poor value based on its PEG Ratio (4.4x)


Price to Book Ratio

PB vs Industry: AMP is overvalued based on its PB Ratio (10.3x) compared to the IT Healthcare industry average (1.3x).


Next Steps

Future Growth

How is Amplifon forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

24.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AMP's forecast earnings growth (24.4% per year) is above the savings rate (2%).

Earnings vs Market: AMP's earnings (24.4% per year) are forecast to grow faster than the Italian market (23.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AMP's revenue (10.3% per year) is forecast to grow faster than the Italian market (3.6% per year).

High Growth Revenue: AMP's revenue (10.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AMP's Return on Equity is forecast to be low in 3 years time (19%).


Next Steps

  • Explore growth companies in the Healthcare industry.

Past Performance

How has Amplifon performed over the past 5 years?

15.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AMP has high quality earnings.

Growing Profit Margin: AMP's current net profit margins (4.4%) are lower than last year (7%).


Past Earnings Growth Analysis

Earnings Trend: AMP's earnings have grown by 15.8% per year over the past 5 years.

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

Earnings vs Industry: AMP had negative earnings growth (-38.1%) over the past year, making it difficult to compare to the Healthcare industry average (-17.2%).


Return on Equity

High ROE: AMP's Return on Equity (9.5%) is considered low.


Next Steps

Financial Health

How is Amplifon's financial position?


Financial Position Analysis

Short Term Liabilities: AMP's short term assets (€706.7M) exceed its short term liabilities (€583.3M).

Long Term Liabilities: AMP's short term assets (€706.7M) do not cover its long term liabilities (€1.8B).


Debt to Equity History and Analysis

Debt Level: AMP's debt to equity ratio (168.2%) is considered high.

Reducing Debt: AMP's debt to equity ratio has increased from 87.1% to 168.2% over the past 5 years.

Debt Coverage: AMP's debt is well covered by operating cash flow (25.8%).

Interest Coverage: AMP's interest payments on its debt are well covered by EBIT (5.2x coverage).


Balance Sheet


Next Steps

Dividend

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

0.50%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AMP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AMP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AMP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AMP's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AMP'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?

3.9yrs

Average management tenure


CEO

Enrico Vita (51 yo)

5yrs

Tenure

€4,002,000

Compensation

Mr. Enrico Vita has been Chief Executive Officer of Amplifon SpA since October 22, 2015 and Executive Director since October 20, 2015 and also serves as its Managing Director. Mr. Vita served as Chief Oper ...


CEO Compensation Analysis

Compensation vs Market: Enrico's total compensation ($USD4.71M) is above average for companies of similar size in the Italian market ($USD2.49M).

Compensation vs Earnings: Enrico's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Enrico Vita
CEO, MD & Executive Director5yrs€4.00mno data
Gabriele Galli
Executive of Financial Reporting & Corporate Accounting Information and CFO3.58yrsno datano data
Andrea Ciccolini
Chief Information Officer0.25yrno datano data
Francesca Rambaudi
Investor Relations & Corporate Communication Director4.83yrsno datano data
Federico Poz
Chief Legal Officer3.92yrsno datano data
Giuseppe Vironda
Chief Marketing Officer0.75yrno datano data
Francesca Morichini
Chief HR Officer3yrsno datano data
Paolo Tacciaria
Head of Internal Auditno datano datano data
Giulio Pizzini
Chief Strategy & Business Development Officer5.08yrsno datano data
Cristian Finotti
Chief Procurement & Supply Chain Officer4.58yrsno datano data
Iacopo Pazzi
Executive Vice President of EMEA4.5yrsno datano data
Alessandro Bonacina
Executive Vice President of Americas0.75yrno datano data

3.9yrs

Average Tenure

47yo

Average Age

Experienced Management: AMP's management team is considered experienced (3.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Enrico Vita
CEO, MD & Executive Director5yrs€4.00mno data
Andrea Casalini
Independent Director4.5yrs€85.00kno data
Giovanni Tamburi
Director7.5yrs€55.00kno data
Susan Holland
Chairperson9.5yrs€304.00kno data
Maurizio Costa
Independent Director13.42yrs€85.00kno data
Maria Patrizia Grieco
Independent Directorno data€75.00kno data
Emilio Fano
Standing Auditor8.5yrsno datano data
Lorenzo Pozza
Lead Independent Directorno data€100.00kno data
Alessandro Cortesi
Independent Director4.5yrs€80.00kno data
Raffaella Pagani
Chairperson of the Board of Statutory Auditors5.5yrsno datano data
Maria Brena
Standing Auditor8.5yrsno datano data
Laura Donnini
Independent Director4.5yrs€90.00kno data

6.5yrs

Average Tenure

58yo

Average Age

Experienced Board: AMP's board of directors are considered experienced (6.5 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

Amplifon S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Amplifon S.p.A.
  • Ticker: AMP
  • Exchange: BIT
  • Founded: 1950
  • Industry: Health Care Distributors
  • Sector: Healthcare
  • Market Cap: €7.198b
  • Shares outstanding: 223.60m
  • Website: https://corporate.amplifon.com

Number of Employees


Location

  • Amplifon S.p.A.
  • Via Ripamonti 133
  • Milan
  • Milan
  • 20141
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AMFP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2001
AMPBIT (Borsa Italiana)YesOrdinary SharesITEURJun 2001
0N61LSE (London Stock Exchange)YesOrdinary SharesGBEURJun 2001
AXNADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2001
AMPMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 2001
AMPWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJun 2001

Biography

Amplifon S.p.A. provides hearing products and services that help people rediscover various emotions of sound. The company also offers fitting of customized products. It operates through a network of approx ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 20:52
End of Day Share Price2020/10/19 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.