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Salini Impregilo

OTCPK:IPGO.F
Snowflake Description

Imperfect balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IPGO.F
OTCPK
€1B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Salini Impregilo S.p.A. engages in construction activities worldwide. The last earnings update was 207 days ago. More info.


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IPGO.F Share Price and Events
7 Day Returns
0%
OTCPK:IPGO.F
3.8%
US Construction
0.8%
US Market
1 Year Returns
-
OTCPK:IPGO.F
-7.7%
US Construction
1.1%
US Market
IPGO.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Salini Impregilo (IPGO.F) 0% 0% - - - -
US Construction 3.8% 8.9% 2.9% -7.7% 40.3% -0.3%
US Market 0.8% 5.9% 5.6% 1.1% 43% 40.1%
1 Year Return vs Industry and Market
  • No trading data on IPGO.F.
  • No trading data on IPGO.F.
Price Volatility
IPGO.F
Industry
5yr Volatility vs Market

IPGO.F Value

 Is Salini Impregilo undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Salini Impregilo to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Salini Impregilo.

OTCPK:IPGO.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 17.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:IPGO.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Construction Unlevered Beta Simply Wall St/ S&P Global 1.09
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.088 (1 + (1- 24%) (247.23%))
3.131
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 7.27%)
17.27%

Discounted Cash Flow Calculation for OTCPK:IPGO.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Salini Impregilo is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:IPGO.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 57.08 64.60 79.00 91.34 105.60
Source Analyst x4 Analyst x4 Analyst x1 Est @ 15.61% Est @ 15.61%
Present Value
Discounted (@ 17.27%)
48.67 46.97 48.99 48.29 47.61
Present value of next 5 years cash flows €240.53
OTCPK:IPGO.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €105.60 × (1 + 2.73%) ÷ (17.27% – 2.73%)
€746.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €746.07 ÷ (1 + 17.27%)5
€336.39
OTCPK:IPGO.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €240.53 + €336.39
€576.93
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €576.93 / 490.68
€1.19
OTCPK:IPGO.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:IPGO.F represents 1.00886x of BIT:SAL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00886x
Value per Share
(Listing Adjusted, USD)
= Value per Share (EUR) x Listing Adjustment Factor
= € 1.18 x 1.00886
$1.19
Value per share (USD) From above. $1.19
Current discount Discount to share price of $2.05
= -1 x ($2.05 - $1.19) / $1.19
-72.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Salini Impregilo is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Salini Impregilo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Salini Impregilo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:IPGO.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €-0.10
BIT:SAL Share Price ** BIT (2018-11-28) in EUR €2.03
United States of America Construction Industry PE Ratio Median Figure of 29 Publicly-Listed Construction Companies 16.7x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 17.46x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Salini Impregilo.

OTCPK:IPGO.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:SAL Share Price ÷ EPS (both in EUR)

= 2.03 ÷ -0.10

-20.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Salini Impregilo is loss making, we can't compare its value to the US Construction industry average.
  • Salini Impregilo is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Salini Impregilo's expected growth come at a high price?
Raw Data
OTCPK:IPGO.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -20.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
13.9%per year
United States of America Construction Industry PEG Ratio Median Figure of 24 Publicly-Listed Construction Companies 0.98x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Salini Impregilo, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Salini Impregilo's assets?
Raw Data
OTCPK:IPGO.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €1.76
BIT:SAL Share Price * BIT (2018-11-28) in EUR €2.03
United States of America Construction Industry PB Ratio Median Figure of 35 Publicly-Listed Construction Companies 1.8x
United States of America Market PB Ratio Median Figure of 5,129 Publicly-Listed Companies 1.86x
OTCPK:IPGO.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:SAL Share Price ÷ Book Value per Share (both in EUR)

= 2.03 ÷ 1.76

1.15x

* Primary Listing of Salini Impregilo.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Salini Impregilo is good value based on assets compared to the US Construction industry average.
X
Value checks
We assess Salini Impregilo's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check)
  5. Salini Impregilo has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

IPGO.F Future Performance

 How is Salini Impregilo expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Salini Impregilo expected to grow at an attractive rate?
  • Salini Impregilo's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Salini Impregilo's earnings growth is expected to exceed the United States of America market average.
  • Salini Impregilo's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:IPGO.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:IPGO.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 13.9%
OTCPK:IPGO.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 5.7%
United States of America Construction Industry Earnings Growth Rate Market Cap Weighted Average 22.5%
United States of America Construction Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:IPGO.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:IPGO.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 7,469 156 1
2020-12-31 6,781 435 131 6
2019-12-31 6,388 364 110 6
2018-12-31 6,170 297 152 6
OTCPK:IPGO.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 5,714 -62 -48
2018-03-31 5,827 -32 -76
2017-12-31 5,940 -2 -105
2017-09-30 5,737 180 -17
2017-06-30 5,794 363 73
2017-03-31 5,777 309 77
2016-12-31 5,760 255 81
2016-09-30 5,500 581 54
2016-06-30 5,049 364 38
2016-03-31 4,933 257 41
2015-12-31 4,624 423 71
2015-09-30 4,381 251 90

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Salini Impregilo's earnings are expected to grow by 13.9% yearly, however this is not considered high growth (20% yearly).
  • Salini Impregilo's revenue is expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:IPGO.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Salini Impregilo Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IPGO.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.32 0.32 0.32 1.00
2020-12-31 0.26 0.33 0.21 6.00
2019-12-31 0.22 0.29 0.15 6.00
2018-12-31 0.28 0.38 0.19 4.00
OTCPK:IPGO.F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 -0.10
2018-03-31 -0.16
2017-12-31 -0.21
2017-09-30 -0.03
2017-06-30 0.15
2017-03-31 0.16
2016-12-31 0.16
2016-09-30 0.11
2016-06-30 0.08
2016-03-31 0.08
2015-12-31 0.15
2015-09-30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Salini Impregilo is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Salini Impregilo's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Salini Impregilo has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

IPGO.F Past Performance

  How has Salini Impregilo performed over the past 5 years?

  • Salini Impregilo's last earnings update was 207 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Salini Impregilo's growth in the last year to its industry (Construction).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Salini Impregilo does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Salini Impregilo's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Salini Impregilo's 1-year growth to the US Construction industry average as it is not currently profitable.
Earnings and Revenue History
Salini Impregilo's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Salini Impregilo Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IPGO.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 5,713.62 -47.68 1,180.56
2018-03-31 5,826.80 -76.35 1,212.14
2017-12-31 5,939.98 -105.01 1,243.72
2017-09-30 5,736.70 -16.51 1,165.29
2017-06-30 5,794.16 73.04 1,149.56
2017-03-31 5,777.26 76.81 1,134.85
2016-12-31 5,760.36 80.58 1,120.15
2016-09-30 5,499.56 53.59 1,103.58
2016-06-30 5,049.22 37.58 910.88
2016-03-31 4,933.42 41.13 844.51
2015-12-31 4,624.19 71.28 704.66
2015-09-30 4,380.52 89.52 668.35
2015-06-30 4,177.30 103.66 652.43
2015-03-31 4,289.47 103.26 613.22
2014-12-31 4,138.39 62.63 609.04
2014-09-30 4,548.87 260.28 535.21
2014-06-30 4,161.49 237.30 522.19
2014-03-31 2,590.79 111.53 452.79
2013-12-31 3,207.34 270.48 458.23
2013-09-30 2,268.44 -9.25 458.42
2013-06-30 2,297.06 -17.64 453.77
2013-03-31 2,237.69 -117.20 464.93
2012-12-31 2,250.78 -114.54 455.15
2012-09-30 1,994.55 -35.70 409.77
2012-06-30 1,946.74 -16.41 396.96
2012-03-31 1,872.71 57.91 381.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Salini Impregilo has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Salini Impregilo used its assets less efficiently than the US Construction industry average last year based on Return on Assets.
  • It is difficult to establish if Salini Impregilo improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Salini Impregilo's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Salini Impregilo has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

IPGO.F Health

 How is Salini Impregilo's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Salini Impregilo's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Salini Impregilo is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Salini Impregilo's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Salini Impregilo's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Salini Impregilo Company Filings, last reported 7 months ago.

OTCPK:IPGO.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 976.83 2,478.92 1,072.66
2018-03-31 976.83 2,478.92 1,072.66
2017-12-31 1,085.28 2,287.19 1,321.09
2017-09-30 1,085.28 2,287.19 1,321.09
2017-06-30 1,275.43 2,467.72 1,343.86
2017-03-31 1,275.43 2,467.72 1,343.86
2016-12-31 1,361.33 2,334.20 1,609.57
2016-09-30 1,361.33 2,334.20 1,609.57
2016-06-30 1,240.10 2,449.66 1,178.35
2016-03-31 1,240.10 2,449.66 1,178.35
2015-12-31 1,216.86 1,834.97 1,413.59
2015-09-30 1,242.52 1,708.00 995.22
2015-06-30 1,249.50 1,645.49 985.41
2015-03-31 1,263.18 1,462.19 1,100.53
2014-12-31 1,186.42 1,432.13 1,042.36
2014-09-30 1,155.45 1,535.87 1,047.51
2014-06-30 1,119.26 1,466.70 645.06
2014-03-31 908.75 1,841.63 875.75
2013-12-31 921.42 1,735.63 1,127.87
2013-09-30 1,357.49 521.94 672.48
2013-06-30 1,352.22 567.15 616.23
2013-03-31 1,871.40 703.73 1,399.54
2012-12-31 1,805.81 704.37 1,253.68
2012-09-30 1,187.42 1,095.46 625.40
2012-06-30 1,180.48 1,263.09 738.67
2012-03-31 1,282.73 1,217.79 535.16
  • Salini Impregilo's level of debt (253.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.9% vs 253.8% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Salini Impregilo is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Salini Impregilo's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Salini Impregilo has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

IPGO.F Dividends

 What is Salini Impregilo's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.61%
Current annual income from Salini Impregilo dividends. Estimated to be 3.97% next year.
If you bought $2,000 of Salini Impregilo shares you are expected to receive $52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Salini Impregilo's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Salini Impregilo's dividend is below the markets top 25% of dividend payers in United States of America (3.58%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:IPGO.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Construction Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:IPGO.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.06 1.00
2020-12-31 0.09 6.00
2019-12-31 0.08 6.00
2018-12-31 0.08 6.00
OTCPK:IPGO.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-04-30 0.053 2.670
2017-04-05 0.053 1.775
2017-03-15 0.053 1.687
2016-04-06 0.040 1.388
2016-03-16 0.040 1.100
2015-04-10 0.040 1.049
2015-03-19 0.040 0.982
2014-03-20 0.260 7.750
2013-03-25 1.490 38.552
2012-04-05 0.090 2.731
2011-03-16 0.060 2.775
2011-01-17 0.060 2.639
2010-11-12 0.000 0.000
2010-11-09 0.000 0.000
2010-08-27 0.000 0.000
2010-05-13 0.000 0.000
2010-05-10 0.000 0.000
2010-03-31 0.000 0.000
2010-03-25 0.000 0.000
2009-05-15 0.080 3.196
2009-03-31 0.080 3.687

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Salini Impregilo's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.1x coverage).
X
Income/ dividend checks
We assess Salini Impregilo's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Salini Impregilo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Salini Impregilo has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IPGO.F Management

 What is the CEO of Salini Impregilo's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pietro Salini
COMPENSATION €8,920,733
AGE 60
CEO Bio

Dr. Pietro Salini serves as Chief Executive Officer and Managing Director at Todini Costruzioni Generali S.p.A. Dr. Salini serves as Chief Executive Officer and Managing Director at Salini Costruttori S.p.A. Dr. Salini serves as the Chief Executive Officer at Salini Impregilo S.p.A. He served as its President. Dr. Salini served as Chief Executive Officer at Salini S.p.A. He serves as the Chairman of the Board of Directors of Co.Ge.Ma. S.p.A. He serves as Deputy Chairman and Member of the Board of General Partners of Salini Simonpietro e C. S.a.p.A. He serves as a Sole Director of Pietro Salini & C. S.r.l. He serves as Director of Salini Costruttori S.p.A. He has been a Director at Salini Impregilo S.p.A. since July 17, 2012. He serves as a Member of the Board of Confindustria (the main Association representing manufacturing and services companies in Italy) and Executive Committee Member of Assonime (the Association of the Italian joint stock companies).

CEO Compensation
  • Pietro's compensation has increased whilst company is loss making.
  • Pietro's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Salini Impregilo management team in years:

5.5
Average Tenure
57
Average Age
  • The average tenure for the Salini Impregilo management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Pietro Salini

TITLE
CEO & Director
COMPENSATION
€9M
AGE
60

Massimo Ferrari

TITLE
General Manager of Group Finance & Corporate
COMPENSATION
€1M
AGE
57
TENURE
5.5 yrs

Claudio Lautizi

TITLE
General Manager of Global Operations
COMPENSATION
€1M
TENURE
0.1 yrs

Michele Longo

TITLE
Group General Manager of Domestic Operations
COMPENSATION
€868K
TENURE
5.5 yrs

Alessandro Rosa

TITLE
Director of Administration
COMPENSATION
€896K

Fabrizio Rossini

TITLE
Head of Investor Relations

Gian Grondona

TITLE
Group HR
AGE
47

Bob Alger

TITLE
CEO & President of Lane Construction Company
TENURE
17.6 yrs
Board of Directors Tenure

Average tenure and age of the Salini Impregilo board of directors in years:

6.6
Average Tenure
61
Average Age
  • The tenure for the Salini Impregilo board of directors is about average.
Board of Directors

Alberto Giovannini

TITLE
Chairman of the Board
COMPENSATION
€263K
AGE
63
TENURE
3.6 yrs

Pietro Salini

TITLE
CEO & Director
COMPENSATION
€9M
AGE
60
TENURE
6.6 yrs

Nicola Greco

TITLE
Deputy Chairperson
COMPENSATION
€90K
AGE
69
TENURE
0.5 yrs

Marina Brogi

TITLE
Independent Director
COMPENSATION
€108K
AGE
51
TENURE
6.6 yrs

Mario Cattaneo

TITLE
Independent Director
COMPENSATION
€126K
AGE
88
TENURE
6.6 yrs

Giacinto Sarubbi

TITLE
Chairperson of Board of Statutory Auditors
AGE
55

Giuseppina Capaldo

TITLE
Independent Director
COMPENSATION
€122K
AGE
49
TENURE
6.7 yrs

Roberto Giovanni Cera

TITLE
Director
COMPENSATION
€61K
AGE
63
TENURE
6.6 yrs

Geert Linnebank

TITLE
Independent Director
COMPENSATION
€91K
AGE
62
TENURE
6.6 yrs

Laudomia Pucci di Barsento

TITLE
Independent Director
COMPENSATION
€77K
AGE
57
TENURE
6.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. Feb 19 Buy Salini Costruttori S.p.A. Company 05. Feb 19 07. Feb 19 1,700,000 $2.26 $3,805,775
05. Feb 19 Buy Salini Costruttori S.p.A. Company 30. Jan 19 04. Feb 19 4,893,351 $2.21 $10,715,887
29. Oct 18 Sell Simonpietro Salini Individual 23. Oct 18 23. Oct 18 -100,000 $2.03 $-203,353
16. Oct 18 Sell Simonpietro Salini Individual 03. Sep 18 03. Sep 18 -250,000 $2.56 $-639,238
30. Jan 19 Buy Salini Costruttori S.p.A. Company 24. Jan 19 29. Jan 19 5,450,000 $2.14 $10,929,843
24. Jan 19 Buy Salini Costruttori S.p.A. Company 18. Jan 19 23. Jan 19 5,400,000 $1.94 $10,212,793
18. Jan 19 Buy Salini Costruttori S.p.A. Company 14. Jan 19 17. Jan 19 3,844,786 $1.89 $7,074,079
14. Jan 19 Buy Salini Costruttori S.p.A. Company 08. Jan 19 11. Jan 19 2,600,000 $1.92 $4,792,736
08. Jan 19 Buy Salini Costruttori S.p.A. Company 02. Jan 19 07. Jan 19 2,100,000 $1.73 $3,494,052
02. Jan 19 Buy Salini Costruttori S.p.A. Company 20. Dec 18 28. Dec 18 3,551,000 $1.59 $5,272,650
08. Oct 18 Buy Salini Costruttori S.p.A. Company 02. Oct 18 03. Oct 18 497,200 $2.37 $1,155,086
14. Sep 18 Buy Salini Costruttori S.p.A. Company 10. Sep 18 10. Sep 18 500,000 $2.70 $1,352,119
07. Sep 18 Buy Salini Costruttori S.p.A. Company 03. Sep 18 06. Sep 18 2,500,000 $2.63 $6,406,799
10. Jul 18 Buy Salini Costruttori S.p.A. Company 04. Jul 18 06. Jul 18 1,510,760 $0.00 $2,085
25. Apr 18 Buy Salini Costruttori S.p.A. Company 19. Apr 18 19. Apr 18 500,000 $0.00 $745
28. Mar 18 Buy Salini Costruttori S.p.A. Company 22. Mar 18 22. Mar 18 500,000 $2.90 $1,437,226
22. Mar 18 Buy Salini Costruttori S.p.A. Company 16. Mar 18 16. Mar 18 2,400,000 $3.18 $7,637,302
X
Management checks
We assess Salini Impregilo's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Salini Impregilo has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

IPGO.F News

Simply Wall St News

IPGO.F Company Info

Map
Description

Salini Impregilo S.p.A. engages in construction activities worldwide. It undertakes the construction of dams and hydroelectric plants, hydraulic works, railways and metro systems, airports and motorways, and civil and industrial buildings, as well as roads, and bridges and viaducts. The company was formerly known as Impregilo S.p.A. and changed its name to Salini Impregilo S.p.A. in January 2014. The company is headquartered in Milan, Italy. Salini Impregilo S.p.A. is a subsidiary of Salini Costruttori S.p.A.

Details
Name: Salini Impregilo S.p.A.
IPGO.F
Exchange: OTCPK
Founded:
€1,136,945,248
490,683,805
Website: http://www.salini-impregilo.com
Address: Salini Impregilo S.p.A.
Via dei Missaglia 97,
Milan,
Milan, 20142,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT SAL Ordinary Shares Borsa Italiana IT EUR 02. Jan 1992
OTCPK IPGO.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB IPJ1 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0BJP Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
OTCPK IMPJ.Y ADR Pink Sheets LLC US USD 24. Oct 2008
BIT SALR Saving Shares Borsa Italiana IT EUR 02. Jan 1992
LSE 0N4O Saving Shares London Stock Exchange GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
31,965
Salini Impregilo employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/25 08:53
End of day share price update: 2018/11/28 00:00
Last estimates confirmation: 2019/02/14
Last earnings filing: 2018/08/02
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.