BIT:ATL

Stock Analysis Report

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Executive Summary

Atlantia SpA, through its subsidiaries, engages in the construction and operation of motorways, airports and transport infrastructure, parking areas, and intermodal systems worldwide. More Details


Snowflake Analysis

Reasonable growth potential and slightly overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ATL is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ATL's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

-2.7%

ATL

-2.6%

IT Infrastructure

-2.2%

IT Market


1 Year Return

-33.9%

ATL

-32.7%

IT Infrastructure

-11.1%

IT Market

Return vs Industry: ATL underperformed the Italian Infrastructure industry which returned -32.7% over the past year.

Return vs Market: ATL underperformed the Italian Market which returned -11.1% over the past year.


Shareholder returns

ATLIndustryMarket
7 Day-2.7%-2.6%-2.2%
30 Day-5.5%-4.4%0.9%
90 Day-10.8%-4.8%13.4%
1 Year-33.9%-33.9%-32.3%-32.7%-8.3%-11.1%
3 Year-46.6%-49.9%-39.6%-43.5%-3.9%-14.0%
5 Year-33.5%-42.7%-22.3%-32.9%25.4%-9.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

49.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ATL (€13.64) is trading below our estimate of fair value (€26.75)

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


Price To Earnings Ratio

PE vs Industry: ATL is unprofitable, so we can't compare its PE Ratio to the XE Infrastructure industry average.

PE vs Market: ATL is unprofitable, so we can't compare its PE Ratio to the Italian market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: ATL is overvalued based on its PB Ratio (1.9x) compared to the IT Infrastructure industry average (1.8x).


Next Steps

Future Growth

How is Atlantia forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

60.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ATL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: ATL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: ATL's is expected to become profitable in the next 3 years.

Revenue vs Market: ATL's revenue (8.2% per year) is forecast to grow faster than the Italian market (3.2% per year).

High Growth Revenue: ATL's revenue (8.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ATL's Return on Equity is forecast to be low in 3 years time (10.7%).


Next Steps

Past Performance

How has Atlantia performed over the past 5 years?

-32.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ATL is currently unprofitable.

Growing Profit Margin: ATL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ATL is unprofitable, and losses have increased over the past 5 years at a rate of 32.7% per year.

Accelerating Growth: Unable to compare ATL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ATL is unprofitable, making it difficult to compare its past year earnings growth to the Infrastructure industry (-49.4%).


Return on Equity

High ROE: ATL has a negative Return on Equity (-14.56%), as it is currently unprofitable.


Next Steps

Financial Health

How is Atlantia's financial position?


Financial Position Analysis

Short Term Liabilities: ATL's short term assets (€15.5B) exceed its short term liabilities (€12.0B).

Long Term Liabilities: ATL's short term assets (€15.5B) do not cover its long term liabilities (€62.0B).


Debt to Equity History and Analysis

Debt Level: ATL's debt to equity ratio (412.8%) is considered high.

Reducing Debt: ATL's debt to equity ratio has increased from 164.3% to 412.8% over the past 5 years.

Debt Coverage: ATL's debt is not well covered by operating cash flow (4.9%).

Interest Coverage: ATL is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

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

5.75%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ATL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ATL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ATL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ATL's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

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

0.8yrs

Average management tenure


CEO

Carlo Bertazzo (55 yo)

1

Tenure

€85,000

Compensation

Mr. Carlo Bertazzo serves as Non-Independent Director at Getlink SE since 2020. He has been General Manager of Edizione Holding S.p.A.since March 1, 2020. Mr. Bertazzo serves as Chief Executive Officer at...


Leadership Team

NamePositionTenureCompensationOwnership
Fabio Cerchiai
Chairman of the Board10.75yrs€1.34mno data
Carlo Bertazzo
CEO, GM & Non-Independent Executive Director1yr€85.00kno data
Tiziano Ceccarani
Chief Financial Officer1.25yrsno datano data
Massimo Sonego
Executive VP & Corporate Development and Investor Relations Directorno datano datano data
Claudia Ricchetti
General Counsel0.33yrno datano data
Nicola Pelà
Head of Human Capital & Organization Director0.83yrno datano data
Roberto Mengucci
Executive VP & Highway Business Coordination Director2yrsno datano data
Lorenzo Alzati
Head of Internal Audit0.75yrno datano data
Katia Riva
Chief Sustainability Officer0.33yrno datano data
Enrica Marra
Chief Risk Officer0.083yrno datano data
Stefano Cusmai
Secretaryno datano datano data
Gabriele Benedetto
CEO of TELEPASS S.p.A.no datano datano data

0.8yrs

Average Tenure

55yo

Average Age

Experienced Management: ATL's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Fabio Cerchiai
Chairman of the Board10.75yrs€1.34mno data
Carlo Bertazzo
CEO, GM & Non-Independent Executive Director1yr€85.00kno data
Dario Frigerio
Independent Director2yrsno datano data
Carlo Malacarne
Independent Director2yrsno datano data
Riccardo Bruno
Independent Director2yrsno datano data
Cristina De Benetti
Independent Director2yrsno datano data
Corrado Gatti
Chairman of the Board of Statutory Auditorsno data€82.25kno data
Valentina Martinelli
Non-Executive Director0.83yr€55.00kno data
Gioia Ghezzi
Independent Director2yrsno datano data
Anna Invernizzi
Independent Director2yrsno datano data
Giuseppe Guizzi
Independent Director2yrsno datano data
Ferdinando Feroci
Independent Director2yrsno datano data

2.0yrs

Average Tenure

58yo

Average Age

Experienced Board: ATL'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

Atlantia SpA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Atlantia SpA
  • Ticker: ATL
  • Exchange: BIT
  • Founded: 1950
  • Industry: Highways and Railtracks
  • Sector: Transportation
  • Market Cap: €11.158b
  • Shares outstanding: 818.01m
  • Website: https://www.atlantia.it

Number of Employees


Location

  • Atlantia SpA
  • Via Bergamini 50
  • Rome
  • Rome
  • 159
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATLBIT (Borsa Italiana)YesOrdinary SharesITEURSep 2003
AU9DB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2003
0I2RLSE (London Stock Exchange)YesOrdinary SharesGBEURSep 2003
ATAS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 2003
ATLMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURSep 2003
AU9SWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFSep 2003
ATLWBAG (Wiener Boerse AG)YesOrdinary SharesATEURSep 2003
ATL NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNSep 2003
ATAS.YOTCPK (Pink Sheets LLC)UNSP ADR EACH REPR 0.50 ORDUSUSDOct 2008
AU9ADB (Deutsche Boerse AG)UNSP ADR EACH REPR 0.50 ORDDEEUROct 2008

Biography

Atlantia SpA, through its subsidiaries, engages in the construction and operation of motorways, airports and transport infrastructure, parking areas, and intermodal systems worldwide. It operates and manag...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/17 20:39
End of Day Share Price2021/01/15 00:00
Earnings2020/09/30
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.