BIT:SG

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SAES Getters

Executive Summary

SAES Getters S.p.A., together with its subsidiaries, develops and produces components and systems for industrial and scientific applications in Italy and internationally.


Snowflake Analysis

Moderate growth potential with mediocre balance sheet.

Share Price & News

How has SAES Getters's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

1.2%

SG

-0.5%

IT Electronic

-0.4%

IT Market


1 Year Return

19.6%

SG

17.4%

IT Electronic

-13.1%

IT Market

Return vs Industry: SG exceeded the Italian Electronic industry which returned 17.4% over the past year.

Return vs Market: SG exceeded the Italian Market which returned -13.1% over the past year.


Shareholder returns

SGIndustryMarket
7 Day1.2%-0.5%-0.4%
30 Day13.0%5.5%3.7%
90 Day24.4%27.4%11.1%
1 Year22.6%19.6%19.4%17.4%-10.8%-13.1%
3 Year51.9%39.0%-7.3%-13.7%-4.8%-13.3%
5 Year290.8%234.5%50.5%35.0%-8.0%-37.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is SAES Getters undervalued compared to its fair value and its price relative to the market?

26.22x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SG (€24.75) is trading above our estimate of fair value (€6.41)

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


Price To Earnings Ratio

PE vs Industry: SG is poor value based on its PE Ratio (26.2x) compared to the IT Electronic industry average (16.1x).

PE vs Market: SG is poor value based on its PE Ratio (26.2x) compared to the Italian market (15.9x).


Price to Earnings Growth Ratio

PEG Ratio: SG is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: SG is overvalued based on its PB Ratio (1.8x) compared to the IT Electronic industry average (1.2x).


Next Steps

Future Growth

How is SAES Getters forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

38.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SG's forecast earnings growth (38.2% per year) is above the savings rate (2%).

Earnings vs Market: SG's earnings (38.2% per year) are forecast to grow faster than the Italian market (24.5% per year).

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

Revenue vs Market: SG's revenue (3.7% per year) is forecast to grow slower than the Italian market (4.1% per year).

High Growth Revenue: SG's revenue (3.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SG's Return on Equity is forecast to be low in 3 years time (7.8%).


Next Steps

Past Performance

How has SAES Getters performed over the past 5 years?

-20.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SG has a large one-off loss of €6.3M impacting its March 31 2020 financial results.

Growing Profit Margin: SG became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: SG's earnings have declined by -20.9% per year over the past 5 years.

Accelerating Growth: SG has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: SG has become profitable in the last year, making it difficult to compare its past year earnings growth to the Electronic industry (20.1%).


Return on Equity

High ROE: SG's Return on Equity (4.6%) is considered low.


Next Steps

Financial Health

How is SAES Getters's financial position?


Financial Position Analysis

Short Term Liabilities: SG's short term assets (€171.0M) exceed its short term liabilities (€66.0M).

Long Term Liabilities: SG's short term assets (€171.0M) exceed its long term liabilities (€121.8M).


Debt to Equity History and Analysis

Debt Level: SG's debt to equity ratio (53.8%) is considered high.

Reducing Debt: SG's debt to equity ratio has increased from 44% to 53.8% over the past 5 years.

Debt Coverage: SG's debt is not well covered by operating cash flow (17%).

Interest Coverage: SG's interest payments on its debt are well covered by EBIT (30x coverage).


Balance Sheet


Next Steps

Dividend

What is SAES Getters's current dividend yield, its reliability and sustainability?

3.15%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SG's dividend (3.15%) is higher than the bottom 25% of dividend payers in the Italian market (1.88%).

High Dividend: SG's dividend (3.15%) is low compared to the top 25% of dividend payers in the Italian market (5.31%).


Stability and Growth of Payments

Stable Dividend: SG has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SG's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (82.6%), SG's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SG's dividends in 3 years are forecast to be covered by earnings (63.9% payout ratio).


Next Steps

Management

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

6.3yrs

Average board tenure


CEO

Massimo della Porta (60yo)

17.25yrs

Tenure

€1,874,118

Compensation

Dr Ing. Massimo della Porta has been the Group Chief Executive Officer at SAES Getters S.p.A. since April 23, 2003 and serves as its President. Dr Ing. della Porta has been the Group Chief Technology & Inn ...


CEO Compensation Analysis

Compensation vs Market: Massimo's total compensation ($USD2.13M) is above average for companies of similar size in the Italian market ($USD816.19K).

Compensation vs Earnings: Massimo's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Massimo della Porta
President of the Board17.25yrs€1.87mno data
Giulio Canale
Deputy Chairmanno data€1.07mno data
Adriano De Maio
Independent Non-Executive Director19.17yrs€30.00kno data
Vincenzo Donnamaria
President of Board of Statutory Auditors2.5yrs€42.03kno data
Maurizio Civardi
Statutory Auditor3.5yrs€33.13kno data
Andrea Dogliotti
Non-Executive Director14.25yrs€24.04kno data
Stefano Proverbio
Lead Independent Directorno data€73.00kno data
Luigi della Porta
Non-Executive Director8.25yrs€20.00kno data
Luciana Rovelli
Independent Non-Executive Director5.25yrs€67.00kno data
Alessandra della Porta
Non-Executive Director7.17yrs€20.00kno data
Gaudiana Giusti
Independent Non-Executive Director5.25yrs€63.02kno data
Sara Speranza
Statutory Auditor5.5yrs€47.00kno data

6.3yrs

Average Tenure

60.5yo

Average Age

Experienced Board: SG's board of directors are considered experienced (6.3 years average tenure).


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

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


Key Information

  • Name: SAES Getters S.p.A.
  • Ticker: SG
  • Exchange: BIT
  • Founded: 1940
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: €388.707m
  • Shares outstanding: 18.15m
  • Website: https://www.saesgetters.com

Number of Employees


Location

  • SAES Getters S.p.A.
  • Viale Italia, 77
  • Lainate
  • Milan
  • 20020
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SGBIT (Borsa Italiana)YesOrdinary SharesITEURJul 1994
0NIJLSE (London Stock Exchange)YesOrdinary SharesGBEURJul 1994
SGMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJul 1994
SGRBIT (Borsa Italiana)Saving SharesITEURNov 1994
0NIKLSE (London Stock Exchange)Saving SharesGBEURNov 1994

Biography

SAES Getters S.p.A., together with its subsidiaries, develops and produces components and systems for industrial and scientific applications in Italy and internationally. The Industrial Applications business unit offers getters and dispensers for use in a range of industrial applications, such as discharge and fluorescent lamps, electronic vacuum devices, microelectronic and micromechanical systems, and sensors, as well as for X-ray tubes used in image diagnostic systems. This business unit also provides cathodes and materials for thermal dissipation in electronic tubes and lasers; gas purifier systems for semiconductor and other industries; pumps based on non-evaporable getter materials for use in industrial and scientific fields; and vacuum thermal insulation solutions, which include NEG products for cryogenic, solar collectors, and thermos applications. The Shape Memory Alloys business unit offers Nitinol shape memory alloys (SMA) for use in biomedical sector; and SMA actuator devices for the industrial sector, such as domotics, white goods industry, consumer electronics, and automotive sector. The company also provides advanced film plastics for the food packaging sector; and materials and components for organic electronics applications. It also serves flexible packaging, healthcare, lighting, renewable energy and thermal insulation, scientific equipment and research facilities, security and defense, and semiconductors manufacturing markets. The company was founded in 1940 and is headquartered in Lainate, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/13 20:55
End of Day Share Price2020/07/13 00:00
Earnings2020/03/31
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.