B&C SPEAKERS SPA (BEC.MI) Stock Fundamental Analysis
BIT:BEC - Euronext Milan - IT0001268561 - Common Stock - Currency: EUR
We assign a fundamental rating of 8 out of 10 to BEC. BEC was compared to 30 industry peers in the Household Durables industry. BEC gets an excellent profitability rating and is at the same time showing great financial health properties. BEC may be a bit undervalued, certainly considering the very reasonable score on growth BEC also has an excellent dividend rating. These ratings could make BEC a good candidate for value and dividend and quality investing.
1. Profitability
1.1 Basic Checks
BEC had positive earnings in the past year.
BEC had a positive operating cash flow in the past year.
In the past 5 years BEC has always been profitable.
In the past 5 years BEC always reported a positive cash flow from operatings.
1.2 Ratios
With an excellent Return On Assets value of 28.77%, BEC belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
With an excellent Return On Equity value of 45.49%, BEC belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
BEC's Return On Invested Capital of 35.43% is amongst the best of the industry. BEC outperforms 96.67% of its industry peers.
BEC had an Average Return On Invested Capital over the past 3 years of 26.56%. This is significantly above the industry average of 15.82%.
The last Return On Invested Capital (35.43%) for BEC is above the 3 year average (26.56%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 28.77% | ||
| ROE | 45.49% | ||
| ROIC | 35.43% |
ROA(3y)17.3%
ROA(5y)12.66%
ROE(3y)31.96%
ROE(5y)24.15%
ROIC(3y)26.56%
ROIC(5y)19.74%
1.3 Margins
The Profit Margin of BEC (16.78%) is better than 96.67% of its industry peers.
In the last couple of years the Profit Margin of BEC has grown nicely.
Looking at the Operating Margin, with a value of 19.38%, BEC belongs to the top of the industry, outperforming 96.67% of the companies in the same industry.
In the last couple of years the Operating Margin of BEC has remained more or less at the same level.
BEC has a Gross Margin (37.40%) which is in line with its industry peers.
In the last couple of years the Gross Margin of BEC has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.38% | ||
| PM (TTM) | 16.78% | ||
| GM | 37.4% |
OM growth 3Y9.42%
OM growth 5Y0.76%
PM growth 3Y17.26%
PM growth 5Y2.99%
GM growth 3Y1.29%
GM growth 5Y-0.86%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so BEC is creating value.
BEC has less shares outstanding than it did 1 year ago.
The number of shares outstanding for BEC has been reduced compared to 5 years ago.
BEC has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 7.63 indicates that BEC is not in any danger for bankruptcy at the moment.
The Altman-Z score of BEC (7.63) is better than 100.00% of its industry peers.
The Debt to FCF ratio of BEC is 1.63, which is an excellent value as it means it would take BEC, only 1.63 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 1.63, BEC is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
A Debt/Equity ratio of 0.22 indicates that BEC is not too dependend on debt financing.
BEC has a Debt to Equity ratio of 0.22. This is in the better half of the industry: BEC outperforms 76.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.22 | ||
| Debt/FCF | 1.63 | ||
| Altman-Z | 7.63 |
ROIC/WACC4.53
WACC7.82%
2.3 Liquidity
BEC has a Current Ratio of 3.25. This indicates that BEC is financially healthy and has no problem in meeting its short term obligations.
BEC's Current ratio of 3.25 is fine compared to the rest of the industry. BEC outperforms 80.00% of its industry peers.
A Quick Ratio of 1.88 indicates that BEC should not have too much problems paying its short term obligations.
The Quick ratio of BEC (1.88) is better than 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.25 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 22.49% over the past year.
BEC shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 15.74% yearly.
Looking at the last year, BEC shows a small growth in Revenue. The Revenue has grown by 7.83% in the last year.
The Revenue has been growing by 12.26% on average over the past years. This is quite good.
EPS 1Y (TTM)22.49%
EPS 3Y52.14%
EPS 5Y15.74%
EPS Q2Q%13.33%
Revenue 1Y (TTM)7.83%
Revenue growth 3Y30.43%
Revenue growth 5Y12.26%
Sales Q2Q%8.26%
3.2 Future
BEC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.89% yearly.
Based on estimates for the next years, BEC will show a small growth in Revenue. The Revenue will grow by 3.40% on average per year.
EPS Next Y8.76%
EPS Next 2Y7.73%
EPS Next 3Y4.89%
EPS Next 5YN/A
Revenue Next Year6.45%
Revenue Next 2Y5.43%
Revenue Next 3Y3.4%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 7.19, the valuation of BEC can be described as very cheap.
Based on the Price/Earnings ratio, BEC is valued cheaply inside the industry as 86.67% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.45. BEC is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 10.43, the valuation of BEC can be described as very reasonable.
BEC's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.90, BEC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.19 | ||
| Fwd PE | 10.43 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BEC is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
BEC's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.14 | ||
| EV/EBITDA | 5.82 |
4.3 Compensation for Growth
BEC's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of BEC may justify a higher PE ratio.
PEG (NY)0.82
PEG (5Y)0.46
EPS Next 2Y7.73%
EPS Next 3Y4.89%
5. Dividend
5.1 Amount
BEC has a Yearly Dividend Yield of 6.27%, which is a nice return.
BEC's Dividend Yield is rather good when compared to the industry average which is at 4.71. BEC pays more dividend than 83.33% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.42, BEC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.27% |
5.2 History
The dividend of BEC is nicely growing with an annual growth rate of 7.01%!
Dividend Growth(5Y)7.01%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
BEC pays out 30.59% of its income as dividend. This is a sustainable payout ratio.
BEC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP30.59%
EPS Next 2Y7.73%
EPS Next 3Y4.89%
BIT:BEC (7/3/2025, 7:00:00 PM)
16.75
+0.1 (+0.6%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryHousehold Durables
Earnings (Last)
Earnings (Next)
Inst Owners27.02%
Inst Owner ChangeN/A
Ins Owners52.73%
Ins Owner ChangeN/A
Market Cap184.25M
Analysts80
Price Target19.71 (17.67%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.27% |
Yearly Dividend0.7
Dividend Growth(5Y)7.01%
DP30.59%
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)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.19 | ||
| Fwd PE | 10.43 | ||
| P/S | 1.23 | ||
| P/FCF | 17.14 | ||
| P/OCF | 14.21 | ||
| P/B | 3.34 | ||
| P/tB | 3.53 | ||
| EV/EBITDA | 5.82 |
EPS(TTM)2.33
EY13.91%
EPS(NY)1.61
Fwd EY9.59%
FCF(TTM)0.98
FCFY5.83%
OCF(TTM)1.18
OCFY7.04%
SpS13.6
BVpS5.02
TBVpS4.75
PEG (NY)0.82
PEG (5Y)0.46
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 28.77% | ||
| ROE | 45.49% | ||
| ROCE | 44.29% | ||
| ROIC | 35.43% | ||
| ROICexc | 41.04% | ||
| ROICexgc | 43.2% | ||
| OM | 19.38% | ||
| PM (TTM) | 16.78% | ||
| GM | 37.4% | ||
| FCFM | 7.18% |
ROA(3y)17.3%
ROA(5y)12.66%
ROE(3y)31.96%
ROE(5y)24.15%
ROIC(3y)26.56%
ROIC(5y)19.74%
ROICexc(3y)31.8%
ROICexc(5y)24.11%
ROICexgc(3y)33.73%
ROICexgc(5y)25.74%
ROCE(3y)32.9%
ROCE(5y)24.32%
ROICexcg growth 3Y17.34%
ROICexcg growth 5Y-0.79%
ROICexc growth 3Y18.52%
ROICexc growth 5Y-0.06%
OM growth 3Y9.42%
OM growth 5Y0.76%
PM growth 3Y17.26%
PM growth 5Y2.99%
GM growth 3Y1.29%
GM growth 5Y-0.86%
F-Score8
Asset Turnover1.71
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.22 | ||
| Debt/FCF | 1.63 | ||
| Debt/EBITDA | 0.38 | ||
| Cap/Depr | 82.09% | ||
| Cap/Sales | 1.48% | ||
| Interest Coverage | 31.63 | ||
| Cash Conversion | 40.91% | ||
| Profit Quality | 42.81% | ||
| Current Ratio | 3.25 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 7.63 |
F-Score8
WACC7.82%
ROIC/WACC4.53
Cap/Depr(3y)55.55%
Cap/Depr(5y)40.71%
Cap/Sales(3y)1.4%
Cap/Sales(5y)1.24%
Profit Quality(3y)64.2%
Profit Quality(5y)115.86%
High Growth Momentum
Growth
EPS 1Y (TTM)22.49%
EPS 3Y52.14%
EPS 5Y15.74%
EPS Q2Q%13.33%
EPS Next Y8.76%
EPS Next 2Y7.73%
EPS Next 3Y4.89%
EPS Next 5YN/A
Revenue 1Y (TTM)7.83%
Revenue growth 3Y30.43%
Revenue growth 5Y12.26%
Sales Q2Q%8.26%
Revenue Next Year6.45%
Revenue Next 2Y5.43%
Revenue Next 3Y3.4%
Revenue Next 5YN/A
EBIT growth 1Y-3.99%
EBIT growth 3Y42.71%
EBIT growth 5Y13.11%
EBIT Next Year19.14%
EBIT Next 3Y7.76%
EBIT Next 5YN/A
FCF growth 1Y-37.64%
FCF growth 3Y96.38%
FCF growth 5Y0.44%
OCF growth 1Y-29.3%
OCF growth 3Y90.76%
OCF growth 5Y2.37%