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ALMAWAVE SPA (AIW.MI) Stock Fundamental Analysis

BIT:AIW - Euronext Milan - IT0005434615 - Common Stock - Currency: EUR

3.49  +0.04 (+1.16%)

Fundamental Rating

5

Overall AIW gets a fundamental rating of 5 out of 10. We evaluated AIW against 101 industry peers in the Software industry. Both the profitability and the financial health of AIW get a neutral evaluation. Nothing too spectacular is happening here. AIW is not overvalued while it is showing excellent growth. This is an interesting combination.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

AIW had positive earnings in the past year.
In the past year AIW had a positive cash flow from operations.
Each year in the past 5 years AIW has been profitable.
AIW had a positive operating cash flow in each of the past 5 years.
AIW.MI Yearly Net Income VS EBIT VS OCF VS FCFAIW.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 0 2M -2M 4M 6M 8M 10M

1.2 Ratios

With a decent Return On Assets value of 7.04%, AIW is doing good in the industry, outperforming 70.71% of the companies in the same industry.
The Return On Equity of AIW (11.63%) is better than 69.70% of its industry peers.
AIW has a Return On Invested Capital of 6.98%. This is in the better half of the industry: AIW outperforms 64.65% of its industry peers.
AIW had an Average Return On Invested Capital over the past 3 years of 8.12%. This is below the industry average of 11.53%.
Industry RankSector Rank
ROA 7.04%
ROE 11.63%
ROIC 6.98%
ROA(3y)5.86%
ROA(5y)4.98%
ROE(3y)9.92%
ROE(5y)13.9%
ROIC(3y)8.12%
ROIC(5y)9.23%
AIW.MI Yearly ROA, ROE, ROICAIW.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

1.3 Margins

AIW's Profit Margin of 15.66% is fine compared to the rest of the industry. AIW outperforms 72.73% of its industry peers.
In the last couple of years the Profit Margin of AIW has grown nicely.
AIW's Operating Margin of 13.36% is fine compared to the rest of the industry. AIW outperforms 71.72% of its industry peers.
AIW's Operating Margin has been stable in the last couple of years.
AIW has a Gross Margin of 56.20%. This is in the lower half of the industry: AIW underperforms 62.63% of its industry peers.
In the last couple of years the Gross Margin of AIW has declined.
Industry RankSector Rank
OM 13.36%
PM (TTM) 15.66%
GM 56.2%
OM growth 3Y4.92%
OM growth 5Y-1.41%
PM growth 3Y48.35%
PM growth 5Y5.6%
GM growth 3Y1.65%
GM growth 5Y-2.55%
AIW.MI Yearly Profit, Operating, Gross MarginsAIW.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AIW is destroying value.
AIW has more shares outstanding than it did 1 year ago.
AIW has more shares outstanding than it did 5 years ago.
The debt/assets ratio for AIW is higher compared to a year ago.
AIW.MI Yearly Shares OutstandingAIW.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M 20M 25M
AIW.MI Yearly Total Debt VS Total AssetsAIW.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M

2.2 Solvency

An Altman-Z score of 3.01 indicates that AIW is not in any danger for bankruptcy at the moment.
AIW has a Altman-Z score (3.01) which is in line with its industry peers.
A Debt/Equity ratio of 0.00 indicates that AIW is not too dependend on debt financing.
AIW's Debt to Equity ratio of 0.00 is amongst the best of the industry. AIW outperforms 89.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 3.01
ROIC/WACC0.84
WACC8.26%
AIW.MI Yearly LT Debt VS Equity VS FCFAIW.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 0 20M 40M 60M

2.3 Liquidity

A Current Ratio of 1.51 indicates that AIW should not have too much problems paying its short term obligations.
AIW has a Current ratio of 1.51. This is in the better half of the industry: AIW outperforms 63.64% of its industry peers.
AIW has a Quick Ratio of 1.51. This is a normal value and indicates that AIW is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of AIW (1.51) is better than 66.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.51
Quick Ratio 1.51
AIW.MI Yearly Current Assets VS Current LiabilitesAIW.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

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8

3. Growth

3.1 Past

AIW shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 26.17%, which is quite impressive.
Measured over the past years, AIW shows a very strong growth in Earnings Per Share. The EPS has been growing by 34.92% on average per year.
The Revenue has decreased by -1.78% in the past year.
Measured over the past years, AIW shows a very strong growth in Revenue. The Revenue has been growing by 29.13% on average per year.
EPS 1Y (TTM)26.17%
EPS 3Y84.3%
EPS 5Y34.92%
EPS Q2Q%-33.96%
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y28.86%
Revenue growth 5Y29.13%
Sales Q2Q%-14.99%

3.2 Future

AIW is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 27.73% yearly.
The Revenue is expected to grow by 11.99% on average over the next years. This is quite good.
EPS Next Y-10.53%
EPS Next 2Y27.73%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-15.25%
Revenue Next 2Y11.99%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
AIW.MI Yearly Revenue VS EstimatesAIW.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 20M 40M 60M
AIW.MI Yearly EPS VS EstimatesAIW.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.1 0.2 0.3

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 12.46, the valuation of AIW can be described as correct.
AIW's Price/Earnings ratio is rather cheap when compared to the industry. AIW is cheaper than 93.94% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 29.35. AIW is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 11.15, the valuation of AIW can be described as very reasonable.
Based on the Price/Forward Earnings ratio, AIW is valued cheaply inside the industry as 93.94% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of AIW to the average of the S&P500 Index (22.10), we can say AIW is valued slightly cheaper.
Industry RankSector Rank
PE 12.46
Fwd PE 11.15
AIW.MI Price Earnings VS Forward Price EarningsAIW.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, AIW is valued cheaper than 87.88% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.83
AIW.MI Per share dataAIW.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5 2

4.3 Compensation for Growth

AIW has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as AIW's earnings are expected to grow with 27.73% in the coming years.
PEG (NY)N/A
PEG (5Y)0.36
EPS Next 2Y27.73%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

AIW does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ALMAWAVE SPA

BIT:AIW (3/6/2025, 7:00:00 PM)

3.49

+0.04 (+1.16%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners10.83%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap104.63M
Analysts84
Price Target4.08 (16.91%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)11.11%
PT rev (3m)11.11%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-22.73%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-13.79%
Valuation
Industry RankSector Rank
PE 12.46
Fwd PE 11.15
P/S 1.96
P/FCF N/A
P/OCF 10.5
P/B 1.46
P/tB 6.51
EV/EBITDA 7.83
EPS(TTM)0.28
EY8.02%
EPS(NY)0.31
Fwd EY8.97%
FCF(TTM)-0.03
FCFYN/A
OCF(TTM)0.33
OCFY9.52%
SpS1.78
BVpS2.39
TBVpS0.54
PEG (NY)N/A
PEG (5Y)0.36
Profitability
Industry RankSector Rank
ROA 7.04%
ROE 11.63%
ROCE 9.18%
ROIC 6.98%
ROICexc 7.68%
ROICexgc 36.52%
OM 13.36%
PM (TTM) 15.66%
GM 56.2%
FCFM N/A
ROA(3y)5.86%
ROA(5y)4.98%
ROE(3y)9.92%
ROE(5y)13.9%
ROIC(3y)8.12%
ROIC(5y)9.23%
ROICexc(3y)10.51%
ROICexc(5y)11.11%
ROICexgc(3y)45.36%
ROICexgc(5y)45.92%
ROCE(3y)10.68%
ROCE(5y)12.15%
ROICexcg growth 3Y-6.01%
ROICexcg growth 5YN/A
ROICexc growth 3Y-4.99%
ROICexc growth 5Y-16.55%
OM growth 3Y4.92%
OM growth 5Y-1.41%
PM growth 3Y48.35%
PM growth 5Y5.6%
GM growth 3Y1.65%
GM growth 5Y-2.55%
F-Score5
Asset Turnover0.45
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA 0.02
Cap/Depr 207.06%
Cap/Sales 20.19%
Interest Coverage 75.8
Cash Conversion 80.85%
Profit Quality N/A
Current Ratio 1.51
Quick Ratio 1.51
Altman-Z 3.01
F-Score5
WACC8.26%
ROIC/WACC0.84
Cap/Depr(3y)169.96%
Cap/Depr(5y)179.53%
Cap/Sales(3y)14.41%
Cap/Sales(5y)16.25%
Profit Quality(3y)32.15%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)26.17%
EPS 3Y84.3%
EPS 5Y34.92%
EPS Q2Q%-33.96%
EPS Next Y-10.53%
EPS Next 2Y27.73%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y28.86%
Revenue growth 5Y29.13%
Sales Q2Q%-14.99%
Revenue Next Year-15.25%
Revenue Next 2Y11.99%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-11.86%
EBIT growth 3Y35.2%
EBIT growth 5Y27.31%
EBIT Next Year50%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-140.66%
FCF growth 3Y-12.71%
FCF growth 5YN/A
OCF growth 1Y33.84%
OCF growth 3Y9.43%
OCF growth 5Y85.14%