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BF SPA (BFG.MI) Stock Fundamental Analysis

BIT:BFG - Euronext Milan - IT0005187460 - Common Stock - Currency: EUR

4.39  +0.01 (+0.23%)

Fundamental Rating

2

BFG gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 56 industry peers in the Food Products industry. Both the profitability and financial health of BFG have multiple concerns. BFG is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

BFG had positive earnings in the past year.
BFG had a negative operating cash flow in the past year.
BFG had positive earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: BFG reported negative operating cash flow in multiple years.
BFG.MI Yearly Net Income VS EBIT VS OCF VS FCFBFG.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 -50M

1.2 Ratios

With a Return On Assets value of 0.50%, BFG is not doing good in the industry: 71.43% of the companies in the same industry are doing better.
BFG's Return On Equity of 1.49% is on the low side compared to the rest of the industry. BFG is outperformed by 71.43% of its industry peers.
BFG's Return On Invested Capital of 0.07% is on the low side compared to the rest of the industry. BFG is outperformed by 78.57% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BFG is significantly below the industry average of 7.10%.
Industry RankSector Rank
ROA 0.5%
ROE 1.49%
ROIC 0.07%
ROA(3y)0.1%
ROA(5y)0.1%
ROE(3y)0.35%
ROE(5y)0.27%
ROIC(3y)0.26%
ROIC(5y)N/A
BFG.MI Yearly ROA, ROE, ROICBFG.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1 2

1.3 Margins

BFG has a Profit Margin of 0.84%. This is in the lower half of the industry: BFG underperforms 69.64% of its industry peers.
In the last couple of years the Profit Margin of BFG has declined.
BFG's Operating Margin of 0.10% is on the low side compared to the rest of the industry. BFG is outperformed by 78.57% of its industry peers.
In the last couple of years the Operating Margin of BFG has declined.
BFG has a worse Gross Margin (18.87%) than 80.36% of its industry peers.
In the last couple of years the Gross Margin of BFG has declined.
Industry RankSector Rank
OM 0.1%
PM (TTM) 0.84%
GM 18.87%
OM growth 3Y-43.13%
OM growth 5YN/A
PM growth 3Y-61.91%
PM growth 5YN/A
GM growth 3Y-21.31%
GM growth 5Y-15.17%
BFG.MI Yearly Profit, Operating, Gross MarginsBFG.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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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BFG is destroying value.
BFG has more shares outstanding than it did 1 year ago.
BFG has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BFG has been reduced compared to a year ago.
BFG.MI Yearly Shares OutstandingBFG.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M
BFG.MI Yearly Total Debt VS Total AssetsBFG.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

2.2 Solvency

Based on the Altman-Z score of 1.50, we must say that BFG is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of BFG (1.50) is worse than 73.21% of its industry peers.
A Debt/Equity ratio of 0.29 indicates that BFG is not too dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.29, BFG belongs to the best of the industry, outperforming 83.93% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Altman-Z 1.5
ROIC/WACC0.01
WACC7.42%
BFG.MI Yearly LT Debt VS Equity VS FCFBFG.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M

2.3 Liquidity

BFG has a Current Ratio of 1.30. This is a normal value and indicates that BFG is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.30, BFG is in line with its industry, outperforming 44.64% of the companies in the same industry.
A Quick Ratio of 0.94 indicates that BFG may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.94, BFG is in line with its industry, outperforming 53.57% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.3
Quick Ratio 0.94
BFG.MI Yearly Current Assets VS Current LiabilitesBFG.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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5

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 2.35% over the past year.
BFG shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -15.28% yearly.
BFG shows a small growth in Revenue. In the last year, the Revenue has grown by 2.60%.
BFG shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 82.81% yearly.
EPS 1Y (TTM)2.35%
EPS 3Y-15.28%
EPS 5YN/A
EPS Q2Q%201.18%
Revenue 1Y (TTM)2.6%
Revenue growth 3Y154.55%
Revenue growth 5Y82.81%
Sales Q2Q%3.83%

3.2 Future

The Earnings Per Share is expected to grow by 55.80% on average over the next years. This is a very strong growth
Based on estimates for the next years, BFG will show a small growth in Revenue. The Revenue will grow by 7.98% on average per year.
EPS Next Y29.87%
EPS Next 2Y27.41%
EPS Next 3Y42.97%
EPS Next 5Y55.81%
Revenue Next Year18.3%
Revenue Next 2Y13.33%
Revenue Next 3Y11.68%
Revenue Next 5Y7.98%

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 accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
BFG.MI Yearly Revenue VS EstimatesBFG.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
BFG.MI Yearly EPS VS EstimatesBFG.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2023 2024 2025 2026 2027 0 0.2 0.4 0.6

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1

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 109.75, BFG can be considered very expensive at the moment.
BFG's Price/Earnings ratio is a bit more expensive when compared to the industry. BFG is more expensive than 67.86% of the companies in the same industry.
BFG is valuated expensively when we compare the Price/Earnings ratio to 28.79, which is the current average of the S&P500 Index.
BFG is valuated quite expensively with a Price/Forward Earnings ratio of 86.93.
BFG's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. BFG is more expensive than 75.00% of the companies in the same industry.
BFG is valuated expensively when we compare the Price/Forward Earnings ratio to 21.38, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 109.75
Fwd PE 86.93
BFG.MI Price Earnings VS Forward Price EarningsBFG.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, BFG is valued more expensive than 82.14% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 29.18
BFG.MI Per share dataBFG.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4 5

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
A more expensive valuation may be justified as BFG's earnings are expected to grow with 42.97% in the coming years.
PEG (NY)3.67
PEG (5Y)N/A
EPS Next 2Y27.41%
EPS Next 3Y42.97%

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1

5. Dividend

5.1 Amount

BFG has a Yearly Dividend Yield of 1.01%.
Compared to an average industry Dividend Yield of 3.23, BFG is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.51, BFG's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.01%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

BFG pays out 138.88% of its income as dividend. This is not a sustainable payout ratio.
DP138.88%
EPS Next 2Y27.41%
EPS Next 3Y42.97%
BFG.MI Yearly Income VS Free CF VS DividendBFG.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M -20M 40M -40M 60M
BFG.MI Dividend Payout.BFG.MI Dividend Payout, showing the Payout Ratio.BFG.MI Dividend Payout.PayoutRetained Earnings

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BF SPA

BIT:BFG (4/25/2025, 5:19:23 PM)

4.39

+0.01 (+0.23%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners8.29%
Inst Owner ChangeN/A
Ins Owners47.46%
Ins Owner ChangeN/A
Market Cap1.15B
Analysts45.71
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.01%
Yearly Dividend0.04
Dividend Growth(5Y)N/A
DP138.88%
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)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-42.86%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 109.75
Fwd PE 86.93
P/S 0.85
P/FCF N/A
P/OCF N/A
P/B 1.5
P/tB 2.2
EV/EBITDA 29.18
EPS(TTM)0.04
EY0.91%
EPS(NY)0.05
Fwd EY1.15%
FCF(TTM)-0.25
FCFYN/A
OCF(TTM)-0.05
OCFYN/A
SpS5.17
BVpS2.93
TBVpS1.99
PEG (NY)3.67
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.5%
ROE 1.49%
ROCE 0.09%
ROIC 0.07%
ROICexc 0.09%
ROICexgc 0.12%
OM 0.1%
PM (TTM) 0.84%
GM 18.87%
FCFM N/A
ROA(3y)0.1%
ROA(5y)0.1%
ROE(3y)0.35%
ROE(5y)0.27%
ROIC(3y)0.26%
ROIC(5y)N/A
ROICexc(3y)0.34%
ROICexc(5y)N/A
ROICexgc(3y)0.44%
ROICexgc(5y)N/A
ROCE(3y)0.34%
ROCE(5y)N/A
ROICexcg growth 3Y22.96%
ROICexcg growth 5YN/A
ROICexc growth 3Y16.61%
ROICexc growth 5YN/A
OM growth 3Y-43.13%
OM growth 5YN/A
PM growth 3Y-61.91%
PM growth 5YN/A
GM growth 3Y-21.31%
GM growth 5Y-15.17%
F-Score4
Asset Turnover0.59
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Debt/EBITDA 5.15
Cap/Depr 125.19%
Cap/Sales 3.91%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.3
Quick Ratio 0.94
Altman-Z 1.5
F-Score4
WACC7.42%
ROIC/WACC0.01
Cap/Depr(3y)89.07%
Cap/Depr(5y)124.79%
Cap/Sales(3y)3.28%
Cap/Sales(5y)9.32%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)2.35%
EPS 3Y-15.28%
EPS 5YN/A
EPS Q2Q%201.18%
EPS Next Y29.87%
EPS Next 2Y27.41%
EPS Next 3Y42.97%
EPS Next 5Y55.81%
Revenue 1Y (TTM)2.6%
Revenue growth 3Y154.55%
Revenue growth 5Y82.81%
Sales Q2Q%3.83%
Revenue Next Year18.3%
Revenue Next 2Y13.33%
Revenue Next 3Y11.68%
Revenue Next 5Y7.98%
EBIT growth 1Y-92.53%
EBIT growth 3Y44.76%
EBIT growth 5YN/A
EBIT Next Year166.53%
EBIT Next 3Y63.95%
EBIT Next 5Y51.64%
FCF growth 1Y-842.37%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-146.68%
OCF growth 3YN/A
OCF growth 5YN/A