Recordati Industria Chimica e Farmaceutica
Market Cap
€9.0b
Last Updated
2021/01/18 20:03 UTC
Data Sources
Company Financials +
Executive Summary
Recordati Industria Chimica e Farmaceutica S.p.A., together with its subsidiaries, engages in the research, development, manufacture, marketing, and sale of pharmaceuticals worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Solid track record average dividend payer.
Similar Companies
Share Price & News
How has Recordati Industria Chimica e Farmaceutica's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: REC is less volatile than 75% of Italian stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: REC's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
2.0%
REC
1.9%
IT Pharmaceuticals
-2.2%
IT Market
1 Year Return
11.4%
REC
-5.1%
IT Pharmaceuticals
-11.1%
IT Market
Return vs Industry: REC exceeded the Italian Pharmaceuticals industry which returned -5.2% over the past year.
Return vs Market: REC exceeded the Italian Market which returned -11.1% over the past year.
Shareholder returns
| REC | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.0% | 1.9% | -2.2% |
| 30 Day | -2.4% | 3.2% | 0.9% |
| 90 Day | -7.6% | 3.1% | 13.4% |
| 1 Year | 14.0%11.4% | -2.0%-5.1% | -8.3%-11.1% |
| 3 Year | 23.1%13.8% | 28.9%14.1% | -3.9%-14.0% |
| 5 Year | 116.2%90.3% | 35.5%12.3% | 25.4%-9.3% |
Long-Term Price Volatility Vs. Market
How volatile is Recordati Industria Chimica e Farmaceutica's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 months ago | Simply Wall St
Is Recordati Industria Chimica e Farmaceutica S.p.A.'s (BIT:REC) Latest Stock Performance A Reflection Of Its Financial Health?1 year ago | Simply Wall St
Shareholders Are Thrilled That The Recordati Industria Chimica e Farmaceutica (BIT:REC) Share Price Increased 177%2 years ago | Simply Wall St
Only 4 Days Left To Cash In On Recordati Industria Chimica e Farmaceutica SpA (BIT:REC) Dividend,Valuation
Is Recordati Industria Chimica e Farmaceutica undervalued compared to its fair value and its price relative to the market?
23.09x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: REC (€43.67) is trading above our estimate of fair value (€29.56)
Significantly Below Fair Value: REC is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: REC's PE Ratio (23.1x) is in line with the XE Pharmaceuticals industry average.
PE vs Market: REC is poor value based on its PE Ratio (23.1x) compared to the Italian market (20.2x).
Price to Earnings Growth Ratio
PEG Ratio: REC is poor value based on its PEG Ratio (3x)
Price to Book Ratio
PB vs Industry: REC is overvalued based on its PB Ratio (7x) compared to the XE Pharmaceuticals industry average (3.7x).
Next Steps
Future Growth
How is Recordati Industria Chimica e Farmaceutica forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
7.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: REC's forecast earnings growth (7.7% per year) is above the savings rate (1.9%).
Earnings vs Market: REC's earnings (7.7% per year) are forecast to grow slower than the Italian market (21.6% per year).
High Growth Earnings: REC's earnings are forecast to grow, but not significantly.
Revenue vs Market: REC's revenue (5.9% per year) is forecast to grow faster than the Italian market (3.2% per year).
High Growth Revenue: REC's revenue (5.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: REC's Return on Equity is forecast to be high in 3 years time (25.9%)
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Past Performance
How has Recordati Industria Chimica e Farmaceutica performed over the past 5 years?
13.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: REC has a high level of non-cash earnings.
Growing Profit Margin: REC's current net profit margins (26.4%) are higher than last year (22.8%).
Past Earnings Growth Analysis
Earnings Trend: REC's earnings have grown by 13.8% per year over the past 5 years.
Accelerating Growth: REC's earnings growth over the past year (18.4%) exceeds its 5-year average (13.8% per year).
Earnings vs Industry: REC earnings growth over the past year (18.4%) exceeded the Pharmaceuticals industry 13.8%.
Return on Equity
High ROE: REC's Return on Equity (30.2%) is considered high.
Next Steps
Financial Health
How is Recordati Industria Chimica e Farmaceutica's financial position?
Financial Position Analysis
Short Term Liabilities: REC's short term assets (€879.2M) exceed its short term liabilities (€541.9M).
Long Term Liabilities: REC's short term assets (€879.2M) do not cover its long term liabilities (€980.7M).
Debt to Equity History and Analysis
Debt Level: REC's debt to equity ratio (86.7%) is considered high.
Reducing Debt: REC's debt to equity ratio has increased from 36.1% to 86.7% over the past 5 years.
Debt Coverage: REC's debt is well covered by operating cash flow (33.1%).
Interest Coverage: REC's interest payments on its debt are well covered by EBIT (28.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Recordati Industria Chimica e Farmaceutica current dividend yield, its reliability and sustainability?
2.38%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: REC's dividend (2.38%) is higher than the bottom 25% of dividend payers in the Italian market (1.43%).
High Dividend: REC's dividend (2.38%) is low compared to the top 25% of dividend payers in the Italian market (4.57%).
Stability and Growth of Payments
Stable Dividend: REC's dividend payments have been volatile in the past 10 years.
Growing Dividend: REC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (53.9%), REC's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: REC's dividends in 3 years are forecast to be covered by earnings (50.2% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
4.3yrs
Average management tenure
CEO
Andrea Recordati (49 yo)
4.42yrs
Tenure
€638,500
Compensation
Mr. Andrea Recordati has been Chief Executive Officer of Recordati Industria Chimica e Farmaceutica S.p.A. since August 16, 2016 and served as its Vice Chairman since August 16, 2016 until 2019. Mr. Record...
CEO Compensation Analysis
Compensation vs Market: Andrea's total compensation ($USD0.00) is below average for companies of similar size in the Italian market ($USD6.50M).
Compensation vs Earnings: Andrea's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 4.42yrs | €638.50k | no data | |
| Group GM & Executive Director | 7.83yrs | €910.00k | no data | |
| Group Chief Financial Officer | 1.17yrs | no data | no data | |
| Director of Investor Relations & Corporate Communications | 0.25yr | no data | no data | |
| Vice President of Corporate Legal Counsel | 10yrs | no data | no data | |
| VP of Corporate Development & Licensing | 4.33yrs | no data | no data | |
| Senior Vice President of Group Human Resources | 6.67yrs | no data | no data | |
| Executive Vice President of Rare Diseases Business Unit | 2yrs | no data | no data | |
| Senior Vice President of Group Finance | 2yrs | no data | no data | |
| Executive Vice President of Group Industrial Operations | 5.75yrs | no data | no data | |
| Senior Vice President of Pharmaceutical Research & Development | 2yrs | no data | no data | |
| Executive Director | 0.75yr | no data | no data |
4.3yrs
Average Tenure
51yo
Average Age
Experienced Management: REC's management team is considered experienced (4.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 4.42yrs | €638.50k | no data | |
| Group GM & Executive Director | 7.83yrs | €910.00k | no data | |
| Executive Director | 0.75yr | no data | no data | |
| Director | 3yrs | no data | no data | |
| Director | 3yrs | no data | no data | |
| Non-Executive Chairman of the Board | 0.75yr | no data | no data | |
| Lead Independent Director | 0.75yr | €50.00k | no data | |
| Chairman of Statutory Auditor Board | 3.75yrs | no data | no data | |
| Independent Director | 2yrs | no data | no data | |
| Independent Director | 2yrs | no data | no data | |
| Director | 0.75yr | no data | no data | |
| Vice Chairman | 0.75yr | no data | no data |
2.0yrs
Average Tenure
49yo
Average Age
Experienced Board: REC's board of directors are not considered experienced ( 2 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.
Top Shareholders
Company Information
Recordati Industria Chimica e Farmaceutica S.p.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Recordati Industria Chimica e Farmaceutica S.p.A.
- Ticker: REC
- Exchange: BIT
- Founded: 1926
- Industry: Pharmaceuticals
- Sector: Pharmaceuticals & Biotech
- Market Cap: €8.996b
- Shares outstanding: 205.82m
- Website: https://www.recordati.com
Number of Employees
Location
- Recordati Industria Chimica e Farmaceutica S.p.A.
- Via Matteo Civitali 1
- Milan
- Milan
- 20148
- Italy
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| REC | BIT (Borsa Italiana) | Yes | Ordinary Shares | IT | EUR | Jan 1992 |
| 0KBS | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jan 1992 |
| RCDT.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| RECM | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jan 1992 |
| RER1 | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| REC | WBAG (Wiener Boerse AG) | Yes | Ordinary Shares | AT | EUR | Jan 1992 |
Biography
Recordati Industria Chimica e Farmaceutica S.p.A., together with its subsidiaries, engages in the research, development, manufacture, marketing, and sale of pharmaceuticals worldwide. The company offers ph...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/18 20:03 |
| End of Day Share Price | 2021/01/18 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.