OTCPK:AMFP.F

Stock Analysis Report

Executive Summary

Amplifon SpA operates in the hearing care retail market that empowers people to rediscover various emotions of sound.

Snowflake

Fundamentals

Reasonable growth potential with imperfect balance sheet.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

AMFP.F

-0.04%

US Healthcare

-0.6%

US Market


1 Year Return

16.6%

AMFP.F

-9.1%

US Healthcare

0.7%

US Market

AMFP.F outperformed the Healthcare industry which returned -9.1% over the past year.

AMFP.F outperformed the Market in United States of America which returned 0.6% over the past year.


Share holder returns

AMFP.FIndustryMarket
7 Day0%-0.04%-0.6%
30 Dayn/a1.0%2.9%
90 Dayn/a-1.5%1.3%
1 Year16.6%16.6%-7.7%-9.1%2.9%0.7%
3 Yearn/a29.6%24.3%44.6%35.2%
5 Year363.9%363.9%66.1%56.2%61.9%44.2%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

45.45x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Amplifon's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Amplifon's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Amplifon is overvalued based on earnings compared to the US Healthcare industry average.

Amplifon is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

Amplifon is poor value based on expected growth next year.


Price Based on Value of Assets

Amplifon is overvalued based on assets compared to the US Healthcare industry average.


Next Steps

Future Growth

How is Amplifon expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

18.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Amplifon's revenue is expected to grow by 7.7% yearly, however this is not considered high growth (20% yearly).

Amplifon's earnings are expected to grow by 18.1% yearly, however this is not considered high growth (20% yearly).

Amplifon's revenue growth is expected to exceed the United States of America market average.

Amplifon's earnings growth is expected to exceed the United States of America market average.

Amplifon's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Amplifon is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Amplifon performed over the past 5 years?

24.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Amplifon has delivered over 20% year on year earnings growth in the past 5 years.

Amplifon's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Amplifon's 1-year earnings growth is negative, it can't be compared to the US Healthcare industry average.


Return on Equity

Amplifon has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Amplifon used its assets less efficiently than the US Healthcare industry average last year based on Return on Assets.


Return on Capital Employed

Amplifon's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Amplifon's financial position?


Financial Position Analysis

Amplifon's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Amplifon's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Amplifon's level of debt (153.9%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (111.2% vs 153.9% today).

Debt is well covered by operating cash flow (25.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 16x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.5x debt.


Next Steps

Dividend

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

0.89%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Amplifon's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).

Amplifon's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).

Amplifon is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.

Amplifon is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.


Current Payout to Shareholders

No need to calculate the sustainability of Amplifon's dividends as it is not paying a notable one for United States of America.


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Enrico Vita (50yo)

3.9yrs

Tenure

€2,918,000

Compensation

Mr. Enrico Vita has been Chief Executive Officer of Amplifon SpA since October 22, 2015 and Executive Director since October 20, 2015. Mr. Vita served as Chief Operating Officer and Executive Vice Presiden ...


CEO Compensation Analysis

Enrico's remuneration is lower than average for companies of similar size in United States of America.

Enrico's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.


Management Age and Tenure

2.8yrs

Average Tenure

43.5yo

Average Age

The tenure for the Amplifon management team is about average.


Board Age and Tenure

4.4yrs

Average Tenure

57yo

Average Age

The tenure for the Amplifon board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Enrico Vita (50yo)

    CEO & Executive Director

    • Tenure: 3.9yrs
    • Compensation: €2.92m
  • Paolo Tacciaria

    Head of Internal Audit

    • Tenure: 0yrs
  • Gabriele Galli (50yo)

    Chief Financial Officer

    • Tenure: 2.5yrs
  • Giulio Pizzini (45yo)

    Chief Strategic Development Officer

    • Tenure: 4yrs
  • Francesca Rambaudi

    Investor Relations & Corporate Communication Director

    • Tenure: 3.8yrs
  • Cristian Finotti (50yo)

    Chief Supply Chain Officer

    • Tenure: 3.5yrs
  • Francesca Morichini (41yo)

    Chief HR Officer

    • Tenure: 1.9yrs
  • Alessandro Bonacina (41yo)

    Chief Marketing Officer

    • Tenure: 2.6yrs
  • Gabriele Chiesa (42yo)

    Chief Information Officer

    • Tenure: 1.5yrs
  • Federico Poz (41yo)

    Chief Legal Officer

    • Tenure: 2.8yrs

Board Members

  • Andrea Casalini (57yo)

    Independent Director

    • Tenure: 3.4yrs
    • Compensation: €85.00k
  • Giovanni Tamburi (65yo)

    Director

    • Tenure: 6.4yrs
    • Compensation: €55.00k
  • Susan Holland (63yo)

    Chairperson

    • Tenure: 8.4yrs
    • Compensation: €304.00k
  • Maurizio Costa (71yo)

    Independent Director

    • Tenure: 12.3yrs
    • Compensation: €85.00k
  • Enrico Vita (50yo)

    CEO & Executive Director

    • Tenure: 3.9yrs
    • Compensation: €2.92m
  • Maria Patrizia Grieco (67yo)

    Independent Director

    • Tenure: 0yrs
    • Compensation: €75.00k
  • Lorenzo Pozza (53yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: €100.00k
  • Alessandro Cortesi (57yo)

    Independent Director

    • Tenure: 3.4yrs
    • Compensation: €80.00k
  • Raffaele Pagani

    Chairperson of the Board of Statutory Auditors

    • Tenure: 4.4yrs
  • Laura Donnini (56yo)

    Independent Director

    • Tenure: 0yrs
    • Compensation: €90.00k

Company Information

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


Key Information

  • Name: Amplifon SpA
  • Ticker: AMFP.F
  • Exchange: OTCPK
  • Founded: 1950
  • Industry: Health Care Distributors
  • Sector: Healthcare
  • Market Cap: €4.941b
  • Listing Market Cap: €5.436b
  • Shares outstanding: 222.37m
  • Website: https://corporate.amplifon.com

Number of Employees


Location

  • Amplifon SpA
  • Via Ripamonti No. 133
  • Milan
  • Milan
  • 20141
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AMFP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2001
AMPBIT (Borsa Italiana)YesOrdinary SharesITEURJun 2001
0N61LSE (London Stock Exchange)YesOrdinary SharesGBEURJun 2001
AXNADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2001
AMPMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 2001

Biography

Amplifon SpA operates in the hearing care retail market that empowers people to rediscover various emotions of sound. The company operates through a network of approximately 11,000 points of sale in 29 cou ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/21 23:49
End of Day Share Price2019/09/06 00:00
Earnings2019/06/30
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.