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PITE

PITECO BIT:PITE Stock Report

Last Price

€11.15

Market Cap

€216.5m

7D

0.4%

1Y

16.4%

Updated

29 Jun, 2022

Data

Company Financials +
PITE fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance5/6
Financial Health2/6
Dividends2/6

PITE Stock Overview

PITECO S.p.A. engages in the design, development, and implementation of software for treasury, finance, and financial planning management worldwide.

PITECO Competitors

Price History & Performance

Summary of all time highs, changes and price drops for PITECO
Historical stock prices
Current Share Price€11.15
52 Week High€12.20
52 Week Low€7.42
Beta0.74
1 Month Change21.73%
3 Month Change21.46%
1 Year Change16.39%
3 Year Change116.51%
5 Year Change114.22%
Change since IPO238.91%

Recent News & Updates

Shareholder Returns

PITEIT SoftwareIT Market
7D0.4%-0.9%0.6%
1Y16.4%-6.9%-15.0%

Return vs Industry: PITE exceeded the Italian Software industry which returned -6.1% over the past year.

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

Price Volatility

Is PITE's price volatile compared to industry and market?
PITE volatility
PITE Average Weekly Movement7.1%
Software Industry Average Movement5.2%
Market Average Movement5.1%
10% most volatile stocks in IT Market7.4%
10% least volatile stocks in IT Market3.4%

Stable Share Price: PITE is more volatile than 75% of Italian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: PITE's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of Italian stocks.

About the Company

FoundedEmployeesCEOWebsite
1980174Paolo Virentihttps://www.pitecolab.it

PITECO S.p.A. engages in the design, development, and implementation of software for treasury, finance, and financial planning management worldwide. It offers PITECO EVO5, a platform that provides management services in various areas, including cash and liquidity management, digital payments, financial planning, payment and collection factory, and global treasury management; CBC, a corporate banking communication platform that secures payment orders of the authorization workflows; IDM, an intelligent data matching tool that manages data matching processes; and FM, which supports corporate financial risk management processes. The company also provides consultancy and customer care, software customizing, and application management services.

PITECO Fundamentals Summary

How do PITECO's earnings and revenue compare to its market cap?
PITE fundamental statistics
Market Cap€216.53m
Earnings (TTM)€11.87m
Revenue (TTM)€38.92m

18.2x

P/E Ratio

5.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PITE income statement (TTM)
Revenue€38.92m
Cost of Revenue€20.88m
Gross Profit€18.03m
Other Expenses€6.17m
Earnings€11.87m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Sep 28, 2022

Earnings per share (EPS)0.61
Gross Margin46.34%
Net Profit Margin30.49%
Debt/Equity Ratio125.9%

How did PITE perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

25%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 PITE?

Other financial metrics that can be useful for relative valuation.

PITE 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/Revenue7.1x
Enterprise Value/EBITDA20.7x
PEG Ratio8.1x

Price to Earnings Ratio vs Peers

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

PITE PE Ratio vs Peers
The above table shows the PE ratio for PITE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average36.7x
CY4 Cy4gate
42.6x32.1%€221.1m
DGV Digital Value
19.5x21.1%€588.2m
VNT Vantea SMART
46.6x63.0%€76.4m
SBB Sababa Security
38.2x37.8%€21.7m
PITE PITECO
18.2x2.3%€216.5m

Price-To-Earnings vs Peers: PITE is good value based on its Price-To-Earnings Ratio (18.2x) compared to the peer average (36.7x).


Price to Earnings Ratio vs Industry

How does PITE's PE Ratio compare vs other companies in the European Software Industry?

Price-To-Earnings vs Industry: PITE is good value based on its Price-To-Earnings Ratio (18.2x) compared to the Italian Software industry average (38.2x)


Price to Earnings Ratio vs Fair Ratio

What is PITE'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.

PITE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.2x
Fair PE Ratio24.8x

Price-To-Earnings vs Fair Ratio: PITE is good value based on its Price-To-Earnings Ratio (18.2x) compared to the estimated Fair Price-To-Earnings Ratio (24.8x).


Share Price vs Fair Value

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

Below Fair Value: PITE (€11.15) is trading below our estimate of fair value (€14.36)

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


Price to Earnings Growth Ratio

PEG Ratio: PITE is poor value based on its PEG Ratio (8.1x)


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Future Growth

How is PITECO forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


2.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PITE's forecast earnings growth (2.3% per year) is above the savings rate (1.7%).

Earnings vs Market: PITE's earnings (2.3% per year) are forecast to grow slower than the Italian market (10.1% per year).

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

Revenue vs Market: PITE's revenue (3.9% per year) is forecast to grow faster than the Italian market (0.3% per year).

High Growth Revenue: PITE's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PITE's Return on Equity is forecast to be low in 3 years time (17.2%).


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Past Performance

How has PITECO performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


27.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PITE has high quality earnings.

Growing Profit Margin: PITE's current net profit margins (30.5%) are higher than last year (28.9%).


Past Earnings Growth Analysis

Earnings Trend: PITE's earnings have grown significantly by 27.1% per year over the past 5 years.

Accelerating Growth: PITE's earnings growth over the past year (67.1%) exceeds its 5-year average (27.1% per year).

Earnings vs Industry: PITE earnings growth over the past year (67.1%) exceeded the Software industry 58.8%.


Return on Equity

High ROE: Whilst PITE's Return on Equity (23.34%) is high, this metric is skewed due to their high level of debt.


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Financial Health

How is PITECO's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PITE's short term assets (€19.6M) do not cover its short term liabilities (€20.9M).

Long Term Liabilities: PITE's short term assets (€19.6M) do not cover its long term liabilities (€71.9M).


Debt to Equity History and Analysis

Debt Level: PITE's net debt to equity ratio (110.4%) is considered high.

Reducing Debt: PITE's debt to equity ratio has increased from 28.1% to 125.9% over the past 5 years.

Debt Coverage: PITE's debt is well covered by operating cash flow (22.1%).

Interest Coverage: PITE's interest payments on its debt are well covered by EBIT (7x coverage).


Balance Sheet


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Dividend

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

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.35%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PITE's dividend (1.35%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.7%).

High Dividend: PITE's dividend (1.35%) is low compared to the top 25% of dividend payers in the Italian market (5.11%).


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (24.6%), PITE's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (23.7%), PITE's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

€5k

CEO Compensation


CEO

Paolo Virenti

no data

Tenure

€5,000

Compensation

Mr. Paolo Virenti serves as Chief Executive Officer and Director at PITECO S.p.A.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PITE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PITECO S.p.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: PITECO S.p.A.
  • Ticker: PITE
  • Exchange: BIT
  • Founded: 1980
  • Industry: Systems Software
  • Sector: Software
  • Implied Market Cap: €216.529m
  • Shares outstanding: 19.42m
  • Website: https://www.pitecolab.it

Number of Employees


Location

  • PITECO S.p.A.
  • Via Mercalli, 16
  • Milan
  • Milan
  • 20122
  • Italy

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.