ASCOPIAVE SPA (ASC.MI) Stock Fundamental Analysis
BIT:ASC - Borsa Italiana Milan - IT0004093263 - Common Stock - Currency: EUR
ASC gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 4 industry peers in the Gas Utilities industry. ASC has only an average score on both its financial health and profitability. ASC has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
ASC had positive earnings in the past year.
ASC had a positive operating cash flow in the past year.
In the past 5 years ASC has always been profitable.
In the past 5 years ASC always reported a positive cash flow from operatings.
1.2 Ratios
ASC has a Return On Assets of 3.40%. This is in the lower half of the industry: ASC underperforms 75.00% of its industry peers.
Looking at the Return On Equity, with a value of 5.84%, ASC is doing worse than 75.00% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 4.64%, ASC is doing worse than 75.00% of the companies in the same industry.
ASC had an Average Return On Invested Capital over the past 3 years of 2.30%. This is below the industry average of 7.24%.
The last Return On Invested Capital (4.64%) for ASC is above the 3 year average (2.30%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.4% | ||
| ROE | 5.84% | ||
| ROIC | 4.64% |
ROA(3y)2.59%
ROA(5y)10.01%
ROE(3y)4.42%
ROE(5y)15.32%
ROIC(3y)2.3%
ROIC(5y)2.21%
1.3 Margins
Looking at the Profit Margin, with a value of 24.27%, ASC is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
ASC's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 32.19%, ASC perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
ASC's Operating Margin has improved in the last couple of years.
With an excellent Gross Margin value of 104.14%, ASC belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
ASC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.19% | ||
| PM (TTM) | 24.27% | ||
| GM | 104.14% |
OM growth 3Y10.68%
OM growth 5Y5.56%
PM growth 3Y-16.43%
PM growth 5Y-11.59%
GM growth 3Y1.94%
GM growth 5Y1.16%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ASC is destroying value.
Compared to 1 year ago, ASC has about the same amount of shares outstanding.
ASC has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, ASC has a worse debt to assets ratio.
2.2 Solvency
ASC has an Altman-Z score of 1.51. This is a bad value and indicates that ASC is not financially healthy and even has some risk of bankruptcy.
ASC has a better Altman-Z score (1.51) than 75.00% of its industry peers.
ASC has a debt to FCF ratio of 18.13. This is a negative value and a sign of low solvency as ASC would need 18.13 years to pay back of all of its debts.
The Debt to FCF ratio of ASC (18.13) is better than 75.00% of its industry peers.
A Debt/Equity ratio of 0.33 indicates that ASC is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.33, ASC belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.33 | ||
| Debt/FCF | 18.13 | ||
| Altman-Z | 1.51 |
ROIC/WACC0.72
WACC6.45%
2.3 Liquidity
ASC has a Current Ratio of 0.60. This is a bad value and indicates that ASC is not financially healthy enough and could expect problems in meeting its short term obligations.
ASC has a Current ratio (0.60) which is in line with its industry peers.
A Quick Ratio of 0.55 indicates that ASC may have some problems paying its short term obligations.
With a Quick ratio value of 0.55, ASC perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.6 | ||
| Quick Ratio | 0.55 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 152.71% over the past year.
ASC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.58% yearly.
Looking at the last year, ASC shows a quite strong growth in Revenue. The Revenue has grown by 19.63% in the last year.
The Revenue has been growing by 8.46% on average over the past years. This is quite good.
EPS 1Y (TTM)152.71%
EPS 3Y-14.95%
EPS 5Y-3.58%
EPS Q2Q%874.33%
Revenue 1Y (TTM)19.63%
Revenue growth 3Y1.84%
Revenue growth 5Y8.46%
Sales Q2Q%14.41%
3.2 Future
The Earnings Per Share is expected to decrease by 0.00% on average over the next years.
The Revenue is expected to grow by 7.51% on average over the next years.
EPS Next Y17.95%
EPS Next 2Y3.77%
EPS Next 3Y0%
EPS Next 5YN/A
Revenue Next Year20.84%
Revenue Next 2Y10.87%
Revenue Next 3Y7.51%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 12.26, the valuation of ASC can be described as correct.
Compared to the rest of the industry, the Price/Earnings ratio of ASC is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 28.47, ASC is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 19.94, the valuation of ASC can be described as rather expensive.
75.00% of the companies in the same industry are cheaper than ASC, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of ASC to the average of the S&P500 Index (92.74), we can say ASC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.26 | ||
| Fwd PE | 19.94 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, ASC is valued a bit more expensive than 75.00% of the companies in the same industry.
75.00% of the companies in the same industry are more expensive than ASC, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 28.14 | ||
| EV/EBITDA | 9.29 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.68
PEG (5Y)N/A
EPS Next 2Y3.77%
EPS Next 3Y0%
5. Dividend
5.1 Amount
ASC has a Yearly Dividend Yield of 5.04%, which is a nice return.
Compared to an average industry Dividend Yield of 6.37, ASC is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.28, ASC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.04% |
5.2 History
The dividend of ASC decreases each year by -6.28%.
Dividend Growth(5Y)-6.28%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
61.91% of the earnings are spent on dividend by ASC. This is not a sustainable payout ratio.
DP61.91%
EPS Next 2Y3.77%
EPS Next 3Y0%
ASCOPIAVE SPA
BIT:ASC (2/5/2025, 5:26:21 PM)
2.82
-0.02 (-0.63%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)
Earnings (Next)
Inst Owners4.02%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap661.04M
Analysts77.14
Price Target3.3 (17.02%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.04% |
Yearly Dividend0.13
Dividend Growth(5Y)-6.28%
DP61.91%
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)0%
PT rev (3m)2.1%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-9.81%
EPS NY rev (3m)-9.81%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.69%
Revenue NY rev (3m)-0.69%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.26 | ||
| Fwd PE | 19.94 | ||
| P/S | 3.27 | ||
| P/FCF | 28.14 | ||
| P/OCF | 6.06 | ||
| P/B | 0.79 | ||
| P/tB | 10.73 | ||
| EV/EBITDA | 9.29 |
EPS(TTM)0.23
EY8.16%
EPS(NY)0.14
Fwd EY5.01%
FCF(TTM)0.1
FCFY3.55%
OCF(TTM)0.47
OCFY16.51%
SpS0.86
BVpS3.58
TBVpS0.26
PEG (NY)0.68
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.4% | ||
| ROE | 5.84% | ||
| ROCE | 5.48% | ||
| ROIC | 4.64% | ||
| ROICexc | 4.71% | ||
| ROICexgc | 14.04% | ||
| OM | 32.19% | ||
| PM (TTM) | 24.27% | ||
| GM | 104.14% | ||
| FCFM | 11.63% |
ROA(3y)2.59%
ROA(5y)10.01%
ROE(3y)4.42%
ROE(5y)15.32%
ROIC(3y)2.3%
ROIC(5y)2.21%
ROICexc(3y)2.48%
ROICexc(5y)2.36%
ROICexgc(3y)7.3%
ROICexgc(5y)6.6%
ROCE(3y)2.72%
ROCE(5y)2.61%
ROICexcg growth 3Y15.52%
ROICexcg growth 5Y-23.15%
ROICexc growth 3Y9.06%
ROICexc growth 5Y-3.81%
OM growth 3Y10.68%
OM growth 5Y5.56%
PM growth 3Y-16.43%
PM growth 5Y-11.59%
GM growth 3Y1.94%
GM growth 5Y1.16%
F-Score7
Asset Turnover0.14
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.33 | ||
| Debt/FCF | 18.13 | ||
| Debt/EBITDA | 2.38 | ||
| Cap/Depr | 169.52% | ||
| Cap/Sales | 42.4% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 94.46% | ||
| Profit Quality | 47.94% | ||
| Current Ratio | 0.6 | ||
| Quick Ratio | 0.55 | ||
| Altman-Z | 1.51 |
F-Score7
WACC6.45%
ROIC/WACC0.72
Cap/Depr(3y)177.73%
Cap/Depr(5y)163.66%
Cap/Sales(3y)48.36%
Cap/Sales(5y)40.1%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)152.71%
EPS 3Y-14.95%
EPS 5Y-3.58%
EPS Q2Q%874.33%
EPS Next Y17.95%
EPS Next 2Y3.77%
EPS Next 3Y0%
EPS Next 5YN/A
Revenue 1Y (TTM)19.63%
Revenue growth 3Y1.84%
Revenue growth 5Y8.46%
Sales Q2Q%14.41%
Revenue Next Year20.84%
Revenue Next 2Y10.87%
Revenue Next 3Y7.51%
Revenue Next 5YN/A
EBIT growth 1Y88.03%
EBIT growth 3Y12.71%
EBIT growth 5Y14.49%
EBIT Next Year148.8%
EBIT Next 3Y38.42%
EBIT Next 5Y35.37%
FCF growth 1Y457.7%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y87.79%
OCF growth 3Y-47.42%
OCF growth 5Y-39.13%