BIT:BEST

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Be Shaping The Future

Executive Summary

Be Shaping The Future S.p.A. provides business consulting, information technology, and professional services in Italy, Germany, Austria, Switzerland, the United Kingdom, Spain, Poland, Ukraine, and Romania. More Details


Snowflake Analysis

Reasonable growth potential with adequate balance sheet.

Share Price & News

How has Be Shaping The Future's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

2.7%

BEST

-1.3%

IT IT

-3.1%

IT Market


1 Year Return

5.3%

BEST

77.3%

IT IT

-15.8%

IT Market

Return vs Industry: BEST underperformed the Italian IT industry which returned 77.3% over the past year.

Return vs Market: BEST exceeded the Italian Market which returned -15.8% over the past year.


Shareholder returns

BESTIndustryMarket
7 Day2.7%-1.3%-3.1%
30 Day-5.4%11.5%-4.4%
90 Day0.7%13.8%-3.3%
1 Year7.6%5.3%77.8%77.3%-13.8%-15.8%
3 Year27.0%18.7%89.2%84.5%-14.1%-21.9%
5 Year134.5%111.3%245.4%232.6%-5.4%-26.8%

Price Volatility Vs. Market

How volatile is Be Shaping The Future's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Be Shaping The Future undervalued compared to its fair value and its price relative to the market?

23.28x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BEST (€1.08) is trading above our estimate of fair value (€0.99)

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


Price To Earnings Ratio

PE vs Industry: BEST is good value based on its PE Ratio (23.3x) compared to the IT IT industry average (27.1x).

PE vs Market: BEST is poor value based on its PE Ratio (23.3x) compared to the Italian market (15.8x).


Price to Earnings Growth Ratio

PEG Ratio: BEST is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: BEST is overvalued based on its PB Ratio (2.6x) compared to the IT IT industry average (2.4x).


Next Steps

Future Growth

How is Be Shaping The Future forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

25.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BEST's forecast earnings growth (25.6% per year) is above the savings rate (2%).

Earnings vs Market: BEST's earnings (25.6% per year) are forecast to grow faster than the Italian market (23.6% per year).

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

Revenue vs Market: BEST's revenue (6.2% per year) is forecast to grow faster than the Italian market (3.5% per year).

High Growth Revenue: BEST's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BEST's Return on Equity is forecast to be low in 3 years time (18.7%).


Next Steps

Past Performance

How has Be Shaping The Future performed over the past 5 years?

16.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BEST has high quality earnings.

Growing Profit Margin: BEST's current net profit margins (3.7%) are lower than last year (4%).


Past Earnings Growth Analysis

Earnings Trend: BEST's earnings have grown by 16.5% per year over the past 5 years.

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

Earnings vs Industry: BEST had negative earnings growth (-2.5%) over the past year, making it difficult to compare to the IT industry average (9.6%).


Return on Equity

High ROE: BEST's Return on Equity (11.4%) is considered low.


Next Steps

Financial Health

How is Be Shaping The Future's financial position?


Financial Position Analysis

Short Term Liabilities: BEST's short term assets (€75.7M) exceed its short term liabilities (€70.2M).

Long Term Liabilities: BEST's short term assets (€75.7M) exceed its long term liabilities (€53.9M).


Debt to Equity History and Analysis

Debt Level: BEST's debt to equity ratio (76.3%) is considered high.

Reducing Debt: BEST's debt to equity ratio has increased from 62.1% to 76.3% over the past 5 years.

Debt Coverage: BEST's debt is well covered by operating cash flow (32.4%).

Interest Coverage: BEST's interest payments on its debt are well covered by EBIT (17.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Be Shaping The Future current dividend yield, its reliability and sustainability?

2.13%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BEST's dividend (2.13%) is higher than the bottom 25% of dividend payers in the Italian market (1.65%).

High Dividend: BEST's dividend (2.13%) is low compared to the top 25% of dividend payers in the Italian market (5.43%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BEST has been paying a dividend for less than 10 years.

Growing Dividend: BEST's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.5%), BEST's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BEST's dividends in 3 years are forecast to be well covered by earnings (29.5% payout ratio).


Next Steps

Management

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

1.4yrs

Average board tenure


CEO

Stefano Achermann (51 yo)

no data

Tenure

€2,604,030

Compensation

Mr. Stefano Achermann serves as the Chief Executive Officer and Managing Director of Be Shaping The Future S.p.A. (formerly known as Be Think, Solve, Execute S.p.A.) Mr. Achermann served as the Chief Execu ...


CEO Compensation Analysis

Compensation vs Market: Stefano's total compensation ($USD3.04M) is above average for companies of similar size in the Italian market ($USD585.85K).

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


Board Members

NamePositionTenureCompensationOwnership
Stefano Achermann
CEO, MD & Directorno data€2.60m5.76%
€ 8.1m
Claudio Berretti
Non-Executive Directorno data€20.00kno data
Giuseppe Leoni
Chairman of Board of Auditorsno datano datano data
Lucrezia Reichlin
Independent Director0.42yrno datano data
Anna Tarantola
Independent Director0.42yrno datano data
Carlo Achermann
Chairman of the Board3.33yrs€1.62mno data
Stefano De Angelis
Standing Auditorno data€23.40kno data
Rosita Natta
Standing Auditorno datano datano data
Cristina Spagna
Independent Directorno data€30.00kno data
Gianluca Ferrari
Independent Director3.42yrs€20.00k0.080%
€ 112.7k
Claudio Calabi
Independent Director2.42yrs€20.00kno data
Francesca Moretti
Independent Director0.42yrno datano data

1.4yrs

Average Tenure

51yo

Average Age

Experienced Board: BEST's board of directors are not considered experienced ( 1.4 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.


Top Shareholders

Company Information

Be Shaping The Future S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Be Shaping The Future S.p.A.
  • Ticker: BEST
  • Exchange: BIT
  • Founded: 1987
  • Industry: Data Processing and Outsourced Services
  • Sector: Software
  • Market Cap: €140.769m
  • Shares outstanding: 130.10m
  • Website: https://www.be-tse.it

Number of Employees


Location

  • Be Shaping The Future S.p.A.
  • Viale dell’Esperanto, 71
  • Rome
  • Rome
  • 144
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DAFDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2000
BESTBIT (Borsa Italiana)YesOrdinary SharesITEUROct 2000
0KK7LSE (London Stock Exchange)YesOrdinary SharesGBEUROct 2000

Biography

Be Shaping The Future S.p.A. provides business consulting, information technology, and professional services in Italy, Germany, Austria, Switzerland, the United Kingdom, Spain, Poland, Ukraine, and Romania ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/28 21:44
End of Day Share Price2020/09/28 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.