Società Editoriale Il Fatto (BIT:SEIF) - Share price, News & Analysis

Q: What is the Fair Price of SEIF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SEIF (€0.37) is trading below our estimate of [[fair value]] (€0.54)

SEIF fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	1/6
Financial Health	5/6
Dividends	0/6

SEIF Stock Overview

Società Editoriale Il Fatto S.p.A. engages in the publishing of newspaper, books, and magazines in Italy.

Rewards

Trading at 31.2% below our estimate of its fair value

Earnings are forecast to grow 50.66% per year

Risk Analysis

Does not have a meaningful market cap (€8M)

Large one-off items impacting financial results

Profit margins (0.4%) are lower than last year (0.8%)

Società Editoriale Il Fatto Competitors

BFC Media

BIT:BFC

€12.6m

Gambero Rosso

BIT:GAMB

€5.3m

Caltagirone Editore

BIT:CED

€111.1m

RCS MediaGroup

BIT:RCS

€328.5m

Price History & Performance

Summary of all time highs, changes and price drops for Società Editoriale Il Fatto
Historical stock prices
Current Share Price	€0.37
52 Week High	€0.73
52 Week Low	€0.36
Beta	0.13
1 Month Change	-13.38%
3 Month Change	-22.97%
1 Year Change	-45.33%
3 Year Change	-45.89%
5 Year Change	n/a
Change since IPO	-48.39%

Shareholder Returns

	SEIF	IT Media	IT Market
7D	-7.8%	0.09%	-1.0%
1Y	-45.3%	-61.3%	-17.4%

Return vs Industry: SEIF exceeded the Italian Media industry which returned -61.1% over the past year.

Return vs Market: SEIF underperformed the Italian Market which returned -15% over the past year.

Price Volatility

Is SEIF's price volatile compared to industry and market?
SEIF volatility
SEIF Average Weekly Movement	5.6%
Media Industry Average Movement	4.9%
Market Average Movement	5.0%
10% most volatile stocks in IT Market	7.4%
10% least volatile stocks in IT Market	3.4%

Stable Share Price: SEIF is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: SEIF's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2009	143	Cinzia Monteverdi	https://www.seif-spa.it

Società Editoriale Il Fatto S.p.A. engages in the publishing of newspaper, books, and magazines in Italy. The company publishes Il Fatto Quotidiano, a monthly magazine; ilfattoquotidiano.it, an online magazine; and FQ MILLENNIUM, a monthly investigative journalism magazine. It also operates TVLOFT, an online platform for the sale of television content.

Società Editoriale Il Fatto Fundamentals Summary

How do Società Editoriale Il Fatto's earnings and revenue compare to its market cap?
SEIF fundamental statistics
Market Cap	€8.33m
Earnings (TTM)	€168.79k
Revenue (TTM)	€38.05m

49.4x

P/E Ratio

0.2x

P/S Ratio

Is SEIF overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SEIF income statement (TTM)
Revenue	€38.05m
Cost of Revenue	€30.30m
Gross Profit	€7.75m
Other Expenses	€7.58m
Earnings	€168.79k

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.0075
Gross Margin	20.37%
Net Profit Margin	0.44%
Debt/Equity Ratio	47.8%

How did SEIF perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is SEIF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SEIF?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SEIF. This is calculated by dividing SEIF's market cap by their current preferred multiple.
What is SEIF's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€8.33m

SEIF key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.2x
Enterprise Value/EBITDA	1.3x
PEG Ratio	1x

Price to Earnings Ratio vs Peers

How does SEIF's PE Ratio compare to its peers?

SEIF PE Ratio vs Peers

The above table shows the PE ratio for SEIF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	206.9x
BFC BFC Media	48.6x	30.6%	€12.6m
GAMB Gambero Rosso	770.8x	n/a	€5.3m
CED Caltagirone Editore	3.9x	n/a	€111.1m
RCS RCS MediaGroup	4.4x	n/a	€328.5m
SEIF Società Editoriale Il Fatto	49.4x	50.7%	€8.3m

Forward PE

Price-To-Earnings vs Peers: SEIF is good value based on its Price-To-Earnings Ratio (49.4x) compared to the peer average (206.9x).

Price to Earnings Ratio vs Industry

How does SEIF's PE Ratio compare vs other companies in the European Media Industry?

Price-To-Earnings vs Industry: SEIF is expensive based on its Price-To-Earnings Ratio (49.4x) compared to the Italian Media industry average (20.4x)

Price to Earnings Ratio vs Fair Ratio

What is SEIF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SEIF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	49.4x
Fair PE Ratio	15.8x

Price-To-Earnings vs Fair Ratio: SEIF is expensive based on its Price-To-Earnings Ratio (49.4x) compared to the estimated Fair Price-To-Earnings Ratio (15.8x).

Share Price vs Fair Value

What is the Fair Price of SEIF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SEIF (€0.37) is trading below our estimate of fair value (€0.54)

Significantly Below Fair Value: SEIF is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: SEIF is good value based on its PEG Ratio (1x)

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Future Growth

How is Società Editoriale Il Fatto forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

50.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SEIF's forecast earnings growth (50.7% per year) is above the savings rate (1.7%).

Earnings vs Market: SEIF's earnings (50.7% per year) are forecast to grow faster than the Italian market (10.1% per year).

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

Revenue vs Market: SEIF's revenue is expected to decline over the next 3 years (-1.2% per year).

High Growth Revenue: SEIF's revenue is forecast to decline over the next 3 years (-1.2% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if SEIF's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Società Editoriale Il Fatto performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-5.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SEIF has a large one-off gain of €229.0K impacting its December 31 2021 financial results.

Growing Profit Margin: SEIF's current net profit margins (0.4%) are lower than last year (0.8%).

Past Earnings Growth Analysis

Earnings Trend: SEIF has become profitable over the past 5 years, growing earnings by -5.3% per year.

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

Earnings vs Industry: SEIF had negative earnings growth (-43.9%) over the past year, making it difficult to compare to the Media industry average (99.7%).

Return on Equity

High ROE: SEIF's Return on Equity (3.7%) is considered low.

Discover strong past performing companies

Financial Health

How is Società Editoriale Il Fatto's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: SEIF's short term assets (€9.6M) exceed its short term liabilities (€8.7M).

Long Term Liabilities: SEIF's short term assets (€9.6M) exceed its long term liabilities (€6.5M).

Debt to Equity History and Analysis

Debt Level: SEIF has more cash than its total debt.

Reducing Debt: Insufficient data to determine if SEIF's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: SEIF's debt is well covered by operating cash flow (311.2%).

Interest Coverage: SEIF's interest payments on its debt are well covered by EBIT (8.5x coverage).

Balance Sheet

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Dividend

What is Società Editoriale Il Fatto current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate SEIF'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 SEIF's dividends per share have been stable in the past.

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

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SEIF has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

6.4yrs

Average management tenure

CEO

Cinzia Monteverdi (48 yo)

10.42yrs

Tenure

Ms. Cinzia Monteverdi is the Chairwoman of the Board of Directors at Società Editoriale Il Fatto S.p.A. since May 2018 and serves as its President. She is the Chief Executive Officer at Società Editoriale...

Leadership Team

Experienced Management: SEIF's management team is seasoned and experienced (6.4 years average tenure).

Board Members

Experienced Board: SEIF's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.

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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/30 00:00
End of Day Share Price	2022/06/30 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31