| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 3/6 |
| Dividends | 4/6 |
ASC Overview
Ascopiave S.p.A. distributes and sells natural gas in Italy.
Ascopiave Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | €3.68 |
| 52 Week High | €2.89 |
| 52 Week Low | €4.13 |
| Beta | 0.88 |
| 1 Month Change | 4.55% |
| 3 Month Change | 4.55% |
| 1 Year Change | 22.87% |
| 3 Year Change | 26.68% |
| 5 Year Change | 38.14% |
| Change since IPO | 93.79% |
Recent News & Updates
Ascopiave (BIT:ASC) May Have Issues Allocating Its Capital
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Ascopiave (BIT:ASC) Might Be Having Difficulty Using Its Capital Effectively
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At €3.73, Is It Time To Put Ascopiave S.p.A. (BIT:ASC) On Your Watch List?
Ascopiave S.p.A. ( BIT:ASC ), might not be a large cap stock, but it saw significant share price movement during recent...
Something To Consider Before Buying Ascopiave S.p.A. (BIT:ASC) For The 4.1% Dividend
Is Ascopiave S.p.A. ( BIT:ASC ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings...
Ascopiave (BIT:ASC) Seems To Use Debt Quite Sensibly
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Shareholder Returns
| ASC | IT Gas Utilities | IT Market | |
|---|---|---|---|
| 7D | 5.7% | -1.1% | 1.9% |
| 1Y | 22.9% | 13.9% | 39.3% |
Return vs Industry: ASC exceeded the Italian Gas Utilities industry which returned 12.7% over the past year.
Return vs Market: ASC underperformed the Italian Market which returned 36.4% over the past year.
Price Volatility
| ASC volatility | |
|---|---|
| ASC Beta | 0.88 |
| Industry Beta | 0.69 |
| Market Beta | 1 |
Stable Share Price: ASC is less volatile than 75% of Italian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: ASC's weekly volatility (2%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1956 | 475 | Nicola Cecconato | https://www.gruppoascopiave.it |
Ascopiave S.p.A. distributes and sells natural gas in Italy. The company holds concessions and direct assignments for the supply of the service in 268 municipalities; and provides services to approximately 775,000 users through a distribution network of approximately 12,913 kilometers (km). It is also involved in the sale of electric power; and heat management and co-generation activities, as well as offers integrated urban water management services in 15 municipalities that includes 100,000 inhabitants through a network of 880 km in the Province of Bergamo.
Ascopiave Fundamentals Summary
| ASC fundamental statistics | |
|---|---|
| Market Cap | €797.49m |
| Earnings (TTM) | €64.37m |
| Revenue (TTM) | €143.46m |
12.4x
P/E Ratio5.6x
P/S RatioIs ASC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ASC income statement (TTM) | |
|---|---|
| Revenue | €143.46m |
| Cost of Revenue | €17.83m |
| Gross Profit | €125.63m |
| Expenses | €61.26m |
| Earnings | €64.37m |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Nov 11, 2021
| Earnings per share (EPS) | 0.30 |
| Gross Margin | 87.57% |
| Net Profit Margin | 44.87% |
| Debt/Equity Ratio | 40.0% |
How did ASC perform over the long term?
See historical performance and comparisonDividends
4.3%
Current Dividend Yield55%
Payout RatioValuation
Is Ascopiave undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ASC (€3.68) is trading below our estimate of fair value (€10.04)
Significantly Below Fair Value: ASC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ASC is poor value based on its PE Ratio (12.4x) compared to the European Gas Utilities industry average (11.3x).
PE vs Market: ASC is good value based on its PE Ratio (12.4x) compared to the Italian market (19.8x).
Price to Earnings Growth Ratio
PEG Ratio: ASC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: ASC is good value based on its PB Ratio (0.9x) compared to the XE Gas Utilities industry average (1.2x).
Future Growth
How is Ascopiave forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-2.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ASC's earnings are forecast to decline over the next 3 years (-2.4% per year).
Earnings vs Market: ASC's earnings are forecast to decline over the next 3 years (-2.4% per year).
High Growth Earnings: ASC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: ASC's revenue (5.9% per year) is forecast to grow faster than the Italian market (2.1% per year).
High Growth Revenue: ASC's revenue (5.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ASC's Return on Equity is forecast to be low in 3 years time (5.5%).
Past Performance
How has Ascopiave performed over the past 5 years?
-5.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ASC has high quality earnings.
Growing Profit Margin: ASC's current net profit margins (44.9%) are higher than last year (21.8%).
Past Earnings Growth Analysis
Earnings Trend: ASC's earnings have declined by 5.8% per year over the past 5 years.
Accelerating Growth: ASC's earnings growth over the past year (96.2%) exceeds its 5-year average (-5.8% per year).
Earnings vs Industry: ASC earnings growth over the past year (96.2%) exceeded the Gas Utilities industry 30.2%.
Return on Equity
High ROE: ASC's Return on Equity (7.6%) is considered low.
Financial Health
How is Ascopiave's financial position?
Financial Position Analysis
Short Term Liabilities: ASC's short term assets (€92.3M) do not cover its short term liabilities (€239.2M).
Long Term Liabilities: ASC's short term assets (€92.3M) do not cover its long term liabilities (€222.1M).
Debt to Equity History and Analysis
Debt Level: ASC's debt to equity ratio (40%) is considered satisfactory.
Reducing Debt: ASC's debt to equity ratio has increased from 15.1% to 40% over the past 5 years.
Debt Coverage: ASC's debt is well covered by operating cash flow (22.1%).
Interest Coverage: ASC earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Dividend
What is Ascopiave current dividend yield, its reliability and sustainability?
4.35%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ASC's dividend (4.35%) is higher than the bottom 25% of dividend payers in the Italian market (1.03%).
High Dividend: ASC's dividend (4.35%) is in the top 25% of dividend payers in the Italian market (3.49%)
Stability and Growth of Payments
Stable Dividend: ASC's dividend payments have been volatile in the past 10 years.
Growing Dividend: ASC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (54.5%), ASC's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ASC's dividends in 3 years are not forecast to be well covered by earnings (141.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.3yrs
Average management tenure
CEO
Nicola Cecconato (56 yo)
4.42yrs
Tenure
Dr. Nicola Cecconato serves as President and Chief Executive Officer at Veneto Sviluppo S.p.A. since May 04, 2017. He serves as Chairman of the Board of Ascopiave S.p.A. since May 4, 2017 and has been its...
Leadership Team
Experienced Management: ASC's management team is seasoned and experienced (6.3 years average tenure).
Board Members
Experienced Board: ASC'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
Ascopiave S.p.A.'s employee growth, exchange listings and data sources
Key Information
- Name: Ascopiave S.p.A.
- Ticker: ASC
- Exchange: BIT
- Founded: 1956
- Industry: Gas Utilities
- Sector: Utilities
- Market Cap: €797.493m
- Shares outstanding: 216.71m
- Website: https://www.gruppoascopiave.it
Number of Employees
Location
- Ascopiave S.p.A.
- Via Verizzo, 1030
- Pieve Di Soligo
- Treviso
- 31053
- Italy
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/25 21:37 |
| End of Day Share Price | 2021/10/25 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
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.