BIT:CRL

Stock Analysis Report

Carel Industries

Executive Summary

Carel Industries S.p.A. provides control and IoT solutions for the commercial, industrial, and residential air-conditioning and refrigeration (HVAC/R) markets in Italy and internationally.


Snowflake Analysis

Adequate balance sheet with acceptable track record.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CRL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.8%

CRL

-2.7%

IT Electronic

-0.3%

IT Market


1 Year Return

14.1%

CRL

7.3%

IT Electronic

15.6%

IT Market

Return vs Industry: CRL exceeded the Italian Electronic industry which returned 7.3% over the past year.

Return vs Market: CRL underperformed the Italian Market which returned 15.6% over the past year.


Shareholder returns

CRLIndustryMarket
7 Day-1.8%-2.7%-0.3%
30 Day-5.7%-4.4%2.9%
90 Day-23.9%-7.1%4.5%
1 Year15.1%14.1%9.8%7.3%20.7%15.6%
3 Yearn/a33.8%25.0%39.4%25.4%
5 Yearn/a103.1%82.2%15.8%-23.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

35.55x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CRL (€11.98) is trading above our estimate of fair value (€2.05)

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


Price To Earnings Ratio

PE vs Industry: CRL is poor value based on its PE Ratio (35.6x) compared to the Electronic industry average (11.8x).

PE vs Market: CRL is poor value based on its PE Ratio (35.6x) compared to the Italian market (18.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CRL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CRL is overvalued based on its PB Ratio (9x) compared to the IT Electronic industry average (1.7x).


Next Steps

Future Growth

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

7.2%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if CRL's forecast earnings growth is above the savings rate (1.2%).

Earnings vs Market: Insufficient data to determine if CRL's earnings are forecast to grow faster than the Italian market

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

Revenue vs Market: CRL's revenue (7.2% per year) is forecast to grow faster than the Italian market (4.2% per year).

High Growth Revenue: CRL's revenue (7.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Carel Industries performed over the past 5 years?

10.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRL has high quality earnings.

Growing Profit Margin: CRL's current net profit margins (10.7%) are lower than last year (11.4%).


Past Earnings Growth Analysis

Earnings Trend: CRL's earnings have grown by 10.6% per year over the past 5 years.

Accelerating Growth: CRL's earnings growth over the past year (9.7%) is below its 5-year average (10.6% per year).

Earnings vs Industry: CRL earnings growth over the past year (9.7%) underperformed the Electronic industry 26.6%.


Return on Equity

High ROE: CRL's Return on Equity (25.1%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Carel Industries's financial position?


Financial Position Analysis

Short Term Liabilities: CRL's short term assets (€190.1M) exceed its short term liabilities (€101.6M).

Long Term Liabilities: CRL's short term assets (€190.1M) exceed its long term liabilities (€120.5M).


Debt to Equity History and Analysis

Debt Level: CRL's debt to equity ratio (91.2%) is considered high.

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

Debt Coverage: CRL's debt is well covered by operating cash flow (30.9%).

Interest Coverage: CRL's interest payments on its debt are well covered by EBIT (46.1x coverage).


Balance Sheet

Inventory Level: CRL has a high level of physical assets or inventory.

Debt Coverage by Assets: CRL's debt is covered by short term assets (assets are 1.5x debt).


Next Steps

Dividend

What is Carel Industries's current dividend yield, its reliability and sustainability?

0.83%

Current Dividend Yield


Dividend Yield vs Market

company0.8%marketbottom25%2.0%markettop25%4.5%industryaverage2.0%forecastin3Years1.1%

Current dividend yield vs market & industry

Notable Dividend: CRL's dividend (0.83%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (2%).

High Dividend: CRL's dividend (0.83%) is low compared to the top 25% of dividend payers in the Italian market (4.47%).


Stability and Growth of Payments

Stable Dividend: CRL is not paying a notable dividend for the Italian market, therefore no need to check if payments are stable.

Growing Dividend: CRL is not paying a notable dividend for the Italian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

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

1.9yrs

Average board tenure


CEO

Francesco Nalini (46yo)

0

Mr. Francesco Nalini serves as Chief Executive Officer of Carel Industries S.p.a and has been its Director since January 23, 2009. Mr. Nalini was employed at Carel S.p.A. in the position of Managing Direct ...


Board Members

NamePositionTenureCompensationOwnership
Francesco Nalini
CEO & Director0yrsno datano data
Carlotta Luciani
Executive Member of the Board of Directors1.9yrsno datano data
Giovanni Costa
Lead Independent Director0yrsno datano data
Luigi Nalini
Executive Vice Chairman11.1yrsno data29.52% 353.4m
Marina Manna
Independent Director0yrsno datano data
Luigi Luciani
Chairman of the Board11.1yrsno data45.28% 542.0m
Cinzia Donalisio
Independent Member of the Board of Directors1.9yrsno datano data
Saverio Bozzolan
Chairman of the Board of Statutory Auditors1.9yrsno datano data
Paolo Ferrin
Member of the Board of Statutory Auditors1.9yrsno datano data
Claudia Civolani
Member of the Board of Statutory Auditors1.9yrsno datano data

1.9yrs

Average Tenure

59yo

Average Age

Experienced Board: CRL's board of directors are not considered experienced ( 1.9 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

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


Key Information

  • Name: Carel Industries S.p.A.
  • Ticker: CRL
  • Exchange: BIT
  • Founded: 1973
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: €1.197b
  • Shares outstanding: 99.92m
  • Website: https://www.carel.com

Number of Employees


Location

  • Carel Industries S.p.A.
  • Via dell'Industria, 11
  • Brugine
  • Padova
  • 35020
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
0YQALSE (London Stock Exchange)YesOrdinary SharesGBEURJun 2018
CRLBIT (Borsa Italiana)YesOrdinary SharesITEURJun 2018
CRLMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 2018

Biography

Carel Industries S.p.A. provides control and IoT solutions for the commercial, industrial, and residential air-conditioning and refrigeration (HVAC/R) markets in Italy and internationally. The company offers programmable controls, room and unit terminals, air-conditioning parametric controls, refrigeration parametric controls, isothermal and adiabatic humidifiers, water treatment systems, remote management and monitoring systems, connectivity products, sensors and protection devices, electronic expansion valves and drivers, speed controllers and inverters, electrical panels, and obsolete products, as well as temperature, humidity, and pressure control solutions. It also provides energy management, light management, and waterloop system solutions, as well as solutions for cabinets, cold rooms, and condensing units. The company was founded in 1973 and is headquartered in Brugine, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 00:43
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.