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BRUNELLO CUCINELLI SPA (BC.MI) Stock Fundamental Analysis

BIT:BC - Euronext Milan - IT0004764699 - Common Stock - Currency: EUR

124.95  +1.85 (+1.5%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to BC. BC was compared to 44 industry peers in the Textiles, Apparel & Luxury Goods industry. BC has an excellent profitability rating, but there are some minor concerns on its financial health. BC has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year BC was profitable.
BC had a positive operating cash flow in the past year.
BC had positive earnings in 4 of the past 5 years.
Each year in the past 5 years BC had a positive operating cash flow.
BC.MI Yearly Net Income VS EBIT VS OCF VS FCFBC.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M 200M

1.2 Ratios

With a decent Return On Assets value of 7.41%, BC is doing good in the industry, outperforming 69.05% of the companies in the same industry.
The Return On Equity of BC (26.10%) is better than 85.71% of its industry peers.
With a decent Return On Invested Capital value of 12.99%, BC is doing good in the industry, outperforming 76.19% of the companies in the same industry.
BC had an Average Return On Invested Capital over the past 3 years of 10.10%. This is in line with the industry average of 10.63%.
The last Return On Invested Capital (12.99%) for BC is above the 3 year average (10.10%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.41%
ROE 26.1%
ROIC 12.99%
ROA(3y)6.32%
ROA(5y)4.23%
ROE(3y)21.29%
ROE(5y)13.74%
ROIC(3y)10.1%
ROIC(5y)N/A
BC.MI Yearly ROA, ROE, ROICBC.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20

1.3 Margins

Looking at the Profit Margin, with a value of 9.36%, BC is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
BC's Profit Margin has improved in the last couple of years.
BC has a Operating Margin of 16.81%. This is in the better half of the industry: BC outperforms 76.19% of its industry peers.
In the last couple of years the Operating Margin of BC has grown nicely.
BC has a better Gross Margin (92.01%) than 100.00% of its industry peers.
BC's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 16.81%
PM (TTM) 9.36%
GM 92.01%
OM growth 3YN/A
OM growth 5Y5.53%
PM growth 3YN/A
PM growth 5Y1.88%
GM growth 3Y-0.2%
GM growth 5Y1.3%
BC.MI Yearly Profit, Operating, Gross MarginsBC.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60 80

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BC is still creating some value.
Compared to 1 year ago, BC has about the same amount of shares outstanding.
Compared to 5 years ago, BC has about the same amount of shares outstanding.
The debt/assets ratio for BC has been reduced compared to a year ago.
BC.MI Yearly Shares OutstandingBC.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M
BC.MI Yearly Total Debt VS Total AssetsBC.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

2.2 Solvency

BC has an Altman-Z score of 6.22. This indicates that BC is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 6.22, BC belongs to the best of the industry, outperforming 88.10% of the companies in the same industry.
The Debt to FCF ratio of BC is 5.26, which is a neutral value as it means it would take BC, 5.26 years of fcf income to pay off all of its debts.
BC has a Debt to FCF ratio (5.26) which is comparable to the rest of the industry.
A Debt/Equity ratio of 1.49 is on the high side and indicates that BC has dependencies on debt financing.
BC has a Debt to Equity ratio of 1.49. This is in the lower half of the industry: BC underperforms 78.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 5.26
Altman-Z 6.22
ROIC/WACC1.68
WACC7.73%
BC.MI Yearly LT Debt VS Equity VS FCFBC.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M 200M 300M 400M 500M

2.3 Liquidity

A Current Ratio of 1.26 indicates that BC should not have too much problems paying its short term obligations.
BC has a Current ratio of 1.26. This is in the lower half of the industry: BC underperforms 73.81% of its industry peers.
A Quick Ratio of 0.50 indicates that BC may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.50, BC is doing worse than 78.57% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.26
Quick Ratio 0.5
BC.MI Yearly Current Assets VS Current LiabilitesBC.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

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1

3. Growth

3.1 Past

BC shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by 0.00%.
The Revenue has grown by 16.36% in the past year. This is quite good.
EPS 1Y (TTM)0%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%N/A
Revenue 1Y (TTM)16.36%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%9.16%

3.2 Future

Based on estimates for the next years, BC will show a very negative growth in Earnings Per Share. The EPS will decrease by -22.98% on average per year.
The Revenue is expected to grow by 5.73% on average over the next years.
EPS Next Y1.97%
EPS Next 2Y17.03%
EPS Next 3Y12.21%
EPS Next 5Y-22.98%
Revenue Next Year14.11%
Revenue Next 2Y10.67%
Revenue Next 3Y10.48%
Revenue Next 5Y5.73%

3.3 Evolution

BC.MI Yearly Revenue VS EstimatesBC.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B 2B
BC.MI Yearly EPS VS EstimatesBC.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 2 3

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1

4. Valuation

4.1 Price/Earnings Ratio

BC is valuated quite expensively with a Price/Earnings ratio of 235.75.
71.43% of the companies in the same industry are cheaper than BC, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of BC to the average of the S&P500 Index (29.43), we can say BC is valued expensively.
Based on the Price/Forward Earnings ratio of 171.49, the valuation of BC can be described as expensive.
69.05% of the companies in the same industry are cheaper than BC, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.65, BC is valued quite expensively.
Industry RankSector Rank
PE 235.75
Fwd PE 171.49
BC.MI Price Earnings VS Forward Price EarningsBC.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150 200

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BC indicates a rather expensive valuation: BC more expensive than 80.95% of the companies listed in the same industry.
BC's Price/Free Cash Flow ratio is rather expensive when compared to the industry. BC is more expensive than 83.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 55.94
EV/EBITDA 25.89
BC.MI Per share dataBC.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates BC does not grow enough to justify the current Price/Earnings ratio.
BC has an outstanding profitability rating, which may justify a higher PE ratio.
BC's earnings are expected to grow with 12.21% in the coming years. This may justify a more expensive valuation.
PEG (NY)119.44
PEG (5Y)N/A
EPS Next 2Y17.03%
EPS Next 3Y12.21%

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2

5. Dividend

5.1 Amount

With a yearly dividend of 0.73%, BC is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.68, BC is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.27, BC's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.73%

5.2 History

On average, the dividend of BC grows each year by 23.53%, which is quite nice.
Dividend Growth(5Y)23.53%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

62.48% of the earnings are spent on dividend by BC. This is not a sustainable payout ratio.
The Dividend Rate of BC has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP62.48%
EPS Next 2Y17.03%
EPS Next 3Y12.21%
BC.MI Yearly Income VS Free CF VS DividendBC.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M
BC.MI Dividend Payout.BC.MI Dividend Payout, showing the Payout Ratio.BC.MI Dividend Payout.PayoutRetained Earnings

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BRUNELLO CUCINELLI SPA

BIT:BC (2/26/2025, 10:30:10 AM)

124.95

+1.85 (+1.5%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)10-17 2024-10-17/amc
Earnings (Next)03-13 2025-03-13/amc
Inst Owners34.26%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap8.50B
Analysts76.52
Price Target118.42 (-5.23%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.73%
Yearly Dividend0.78
Dividend Growth(5Y)23.53%
DP62.48%
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)0
Avg Revenue beat(2)-2.37%
Min Revenue beat(2)-2.75%
Max Revenue beat(2)-1.98%
Revenue beat(4)1
Avg Revenue beat(4)-1.18%
Min Revenue beat(4)-2.75%
Max Revenue beat(4)0.89%
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)8.43%
PT rev (3m)10.17%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)1.06%
EPS NY rev (3m)1.06%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)0.92%
Valuation
Industry RankSector Rank
PE 235.75
Fwd PE 171.49
P/S 6.99
P/FCF 55.94
P/OCF 36.68
P/B 19.49
P/tB 20.19
EV/EBITDA 25.89
EPS(TTM)0.53
EY0.42%
EPS(NY)0.73
Fwd EY0.58%
FCF(TTM)2.23
FCFY1.79%
OCF(TTM)3.41
OCFY2.73%
SpS17.88
BVpS6.41
TBVpS6.19
PEG (NY)119.44
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 7.41%
ROE 26.1%
ROCE 18.78%
ROIC 12.99%
ROICexc 14.15%
ROICexgc 14.37%
OM 16.81%
PM (TTM) 9.36%
GM 92.01%
FCFM 12.49%
ROA(3y)6.32%
ROA(5y)4.23%
ROE(3y)21.29%
ROE(5y)13.74%
ROIC(3y)10.1%
ROIC(5y)N/A
ROICexc(3y)11.48%
ROICexc(5y)N/A
ROICexgc(3y)11.7%
ROICexgc(5y)N/A
ROCE(3y)14.25%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y-5.76%
ROICexc growth 3YN/A
ROICexc growth 5Y-3.1%
OM growth 3YN/A
OM growth 5Y5.53%
PM growth 3YN/A
PM growth 5Y1.88%
GM growth 3Y-0.2%
GM growth 5Y1.3%
F-Score7
Asset Turnover0.79
Health
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 5.26
Debt/EBITDA 1.86
Cap/Depr 55.02%
Cap/Sales 6.56%
Interest Coverage 13.25
Cash Conversion 66.3%
Profit Quality 133.51%
Current Ratio 1.26
Quick Ratio 0.5
Altman-Z 6.22
F-Score7
WACC7.73%
ROIC/WACC1.68
Cap/Depr(3y)48.79%
Cap/Depr(5y)49.93%
Cap/Sales(3y)6.92%
Cap/Sales(5y)7.54%
Profit Quality(3y)199.55%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)0%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%N/A
EPS Next Y1.97%
EPS Next 2Y17.03%
EPS Next 3Y12.21%
EPS Next 5Y-22.98%
Revenue 1Y (TTM)16.36%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%9.16%
Revenue Next Year14.11%
Revenue Next 2Y10.67%
Revenue Next 3Y10.48%
Revenue Next 5Y5.73%
EBIT growth 1Y24.3%
EBIT growth 3YN/A
EBIT growth 5Y21.95%
EBIT Next Year93.83%
EBIT Next 3Y33.36%
EBIT Next 5Y23.17%
FCF growth 1Y-9.07%
FCF growth 3YN/A
FCF growth 5Y38.08%
OCF growth 1Y3.87%
OCF growth 3Y78.98%
OCF growth 5Y24.42%