EMAK SPA (EM.MI) Fundamental Analysis & Valuation

BIT:EM • IT0001237053

0.89 EUR
+0.01 (+1.25%)
Last: Mar 4, 2026, 11:27 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This EM.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to EM. EM was compared to 30 industry peers in the Household Durables industry. EM has an average financial health and profitability rating. EM may be a bit undervalued, certainly considering the very reasonable score on growth Finally EM also has an excellent dividend rating. With these ratings, EM could be worth investigating further for value and dividend investing!.


Dividend Valuation Growth Profitability Health

6

1. EM.MI Profitability Analysis

1.1 Basic Checks

  • In the past year EM was profitable.
  • In the past year EM had a positive cash flow from operations.
  • EM had positive earnings in each of the past 5 years.
  • EM had a positive operating cash flow in each of the past 5 years.
EM.MI Yearly Net Income VS EBIT VS OCF VS FCFEM.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 2024 0 20M 40M

1.2 Ratios

  • With a decent Return On Assets value of 3.03%, EM is doing good in the industry, outperforming 73.33% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 7.77%, EM is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 8.07%, EM is in the better half of the industry, outperforming 73.33% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for EM is below the industry average of 10.33%.
  • The last Return On Invested Capital (8.07%) for EM is above the 3 year average (5.51%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.03%
ROE 7.77%
ROIC 8.07%
ROA(3y)2.68%
ROA(5y)3.25%
ROE(3y)6.67%
ROE(5y)8.32%
ROIC(3y)5.51%
ROIC(5y)6.18%
EM.MI Yearly ROA, ROE, ROICEM.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • With a Profit Margin value of 2.31%, EM perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
  • EM's Profit Margin has declined in the last couple of years.
  • EM has a Operating Margin (6.26%) which is comparable to the rest of the industry.
  • EM's Operating Margin has declined in the last couple of years.
  • The Gross Margin of EM (48.73%) is better than 63.33% of its industry peers.
  • EM's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 6.26%
PM (TTM) 2.31%
GM 48.73%
OM growth 3Y-19.36%
OM growth 5Y-3.12%
PM growth 3Y-44.28%
PM growth 5Y-20.36%
GM growth 3Y0.43%
GM growth 5Y0.61%
EM.MI Yearly Profit, Operating, Gross MarginsEM.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. EM.MI Health Analysis

2.1 Basic Checks

  • EM has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for EM remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, EM has less shares outstanding
  • Compared to 1 year ago, EM has about the same debt to assets ratio.
EM.MI Yearly Shares OutstandingEM.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
EM.MI Yearly Total Debt VS Total AssetsEM.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

  • EM has an Altman-Z score of 2.63. This is not the best score and indicates that EM is in the grey zone with still only limited risk for bankruptcy at the moment.
  • The Altman-Z score of EM (2.63) is better than 66.67% of its industry peers.
  • The Debt to FCF ratio of EM is 102.66, which is on the high side as it means it would take EM, 102.66 years of fcf income to pay off all of its debts.
  • EM has a Debt to FCF ratio (102.66) which is comparable to the rest of the industry.
  • EM has a Debt/Equity ratio of 0.75. This is a neutral value indicating EM is somewhat dependend on debt financing.
  • EM has a worse Debt to Equity ratio (0.75) than 60.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF 102.66
Altman-Z 2.63
ROIC/WACC1.42
WACC5.67%
EM.MI Yearly LT Debt VS Equity VS FCFEM.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M 250M

2.3 Liquidity

  • EM has a Current Ratio of 2.28. This indicates that EM is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of EM (2.28) is better than 70.00% of its industry peers.
  • EM has a Quick Ratio of 1.19. This is a normal value and indicates that EM is financially healthy and should not expect problems in meeting its short term obligations.
  • The Quick ratio of EM (1.19) is better than 73.33% of its industry peers.
Industry RankSector Rank
Current Ratio 2.28
Quick Ratio 1.19
EM.MI Yearly Current Assets VS Current LiabilitesEM.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. EM.MI Growth Analysis

3.1 Past

  • EM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 11.98%, which is quite good.
  • Measured over the past years, EM shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -14.92% on average per year.
  • The Revenue has grown by 8.92% in the past year. This is quite good.
  • The Revenue has been growing slightly by 6.76% on average over the past years.
EPS 1Y (TTM)11.98%
EPS 3Y-43.79%
EPS 5Y-14.92%
EPS Q2Q%40.84%
Revenue 1Y (TTM)8.92%
Revenue growth 3Y0.77%
Revenue growth 5Y6.76%
Sales Q2Q%6.94%

3.2 Future

  • Based on estimates for the next years, EM will show a very strong growth in Earnings Per Share. The EPS will grow by 29.78% on average per year.
  • The Revenue is expected to grow by 2.91% on average over the next years.
EPS Next Y24.29%
EPS Next 2Y34.16%
EPS Next 3Y29.78%
EPS Next 5YN/A
Revenue Next Year2.67%
Revenue Next 2Y2.88%
Revenue Next 3Y2.91%
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 decreasing.
EM.MI Yearly Revenue VS EstimatesEM.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
EM.MI Yearly EPS VS EstimatesEM.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2020 2021 2022 2023 2024 2025 2026 2027 0.05 0.1 0.15 0.2

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8

4. EM.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 6.85, which indicates a rather cheap valuation of EM.
  • Compared to the rest of the industry, the Price/Earnings ratio of EM indicates a rather cheap valuation: EM is cheaper than 93.33% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.74. EM is valued rather cheaply when compared to this.
  • EM is valuated cheaply with a Price/Forward Earnings ratio of 6.86.
  • Based on the Price/Forward Earnings ratio, EM is valued cheaply inside the industry as 86.67% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.82, EM is valued rather cheaply.
Industry RankSector Rank
PE 6.85
Fwd PE 6.86
EM.MI Price Earnings VS Forward Price EarningsEM.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 93.33% of the companies in the same industry are more expensive than EM, based on the Enterprise Value to EBITDA ratio.
  • EM's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 51.68
EV/EBITDA 3.94
EM.MI Per share dataEM.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

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.
  • The decent profitability rating of EM may justify a higher PE ratio.
  • EM's earnings are expected to grow with 29.78% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.28
PEG (5Y)N/A
EPS Next 2Y34.16%
EPS Next 3Y29.78%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. EM.MI Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.75%, EM has a reasonable but not impressive dividend return.
  • EM's Dividend Yield is a higher than the industry average which is at 2.52.
  • EM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.75%

5.2 History

  • The dividend of EM has a limited annual growth rate of 0.17%.
Dividend Growth(5Y)0.17%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • EM pays out 19.96% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of EM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP19.96%
EPS Next 2Y34.16%
EPS Next 3Y29.78%
EM.MI Yearly Income VS Free CF VS DividendEM.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M 20M 30M
EM.MI Dividend Payout.EM.MI Dividend Payout, showing the Payout Ratio.EM.MI Dividend Payout.PayoutRetained Earnings

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EM.MI Fundamentals: All Metrics, Ratios and Statistics

EMAK SPA

BIT:EM (3/4/2026, 11:27:54 AM)

0.89

+0.01 (+1.25%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryHousehold Durables
Earnings (Last)11-14
Earnings (Next)03-12
Inst Owners5.19%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap145.90M
Revenue(TTM)947.07M
Net Income(TTM)21.90M
Analysts84.44
Price Target1.63 (83.15%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.75%
Yearly Dividend0.05
Dividend Growth(5Y)0.17%
DP19.96%
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)-4.4%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.6%
Valuation
Industry RankSector Rank
PE 6.85
Fwd PE 6.86
P/S 0.15
P/FCF 51.68
P/OCF 5.92
P/B 0.52
P/tB 0.79
EV/EBITDA 3.94
EPS(TTM)0.13
EY14.61%
EPS(NY)0.13
Fwd EY14.58%
FCF(TTM)0.02
FCFY1.93%
OCF(TTM)0.15
OCFY16.89%
SpS5.78
BVpS1.72
TBVpS1.13
PEG (NY)0.28
PEG (5Y)N/A
Graham Number2.24
Profitability
Industry RankSector Rank
ROA 3.03%
ROE 7.77%
ROCE 11.59%
ROIC 8.07%
ROICexc 9.37%
ROICexgc 11.95%
OM 6.26%
PM (TTM) 2.31%
GM 48.73%
FCFM 0.3%
ROA(3y)2.68%
ROA(5y)3.25%
ROE(3y)6.67%
ROE(5y)8.32%
ROIC(3y)5.51%
ROIC(5y)6.18%
ROICexc(3y)6.58%
ROICexc(5y)7.59%
ROICexgc(3y)8.69%
ROICexgc(5y)10.3%
ROCE(3y)7.91%
ROCE(5y)8.86%
ROICexgc growth 3Y-25.8%
ROICexgc growth 5Y-4.07%
ROICexc growth 3Y-24.35%
ROICexc growth 5Y-3.05%
OM growth 3Y-19.36%
OM growth 5Y-3.12%
PM growth 3Y-44.28%
PM growth 5Y-20.36%
GM growth 3Y0.43%
GM growth 5Y0.61%
F-Score7
Asset Turnover1.31
Health
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF 102.66
Debt/EBITDA 2.3
Cap/Depr 67.67%
Cap/Sales 2.3%
Interest Coverage 250
Cash Conversion 26.92%
Profit Quality 12.89%
Current Ratio 2.28
Quick Ratio 1.19
Altman-Z 2.63
F-Score7
WACC5.67%
ROIC/WACC1.42
Cap/Depr(3y)75.55%
Cap/Depr(5y)71.77%
Cap/Sales(3y)3.86%
Cap/Sales(5y)3.5%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)11.98%
EPS 3Y-43.79%
EPS 5Y-14.92%
EPS Q2Q%40.84%
EPS Next Y24.29%
EPS Next 2Y34.16%
EPS Next 3Y29.78%
EPS Next 5YN/A
Revenue 1Y (TTM)8.92%
Revenue growth 3Y0.77%
Revenue growth 5Y6.76%
Sales Q2Q%6.94%
Revenue Next Year2.67%
Revenue Next 2Y2.88%
Revenue Next 3Y2.91%
Revenue Next 5YN/A
EBIT growth 1Y26.63%
EBIT growth 3Y-18.74%
EBIT growth 5Y3.43%
EBIT Next Year116.13%
EBIT Next 3Y35.43%
EBIT Next 5YN/A
FCF growth 1Y-92.03%
FCF growth 3Y-12.04%
FCF growth 5Y-13.15%
OCF growth 1Y-58.35%
OCF growth 3Y3.36%
OCF growth 5Y-1.36%

EMAK SPA / EM.MI FAQ

Can you provide the ChartMill fundamental rating for EMAK SPA?

ChartMill assigns a fundamental rating of 6 / 10 to EM.MI.


What is the valuation status for EM stock?

ChartMill assigns a valuation rating of 8 / 10 to EMAK SPA (EM.MI). This can be considered as Undervalued.


How profitable is EMAK SPA (EM.MI) stock?

EMAK SPA (EM.MI) has a profitability rating of 6 / 10.


What is the financial health of EMAK SPA (EM.MI) stock?

The financial health rating of EMAK SPA (EM.MI) is 5 / 10.


How sustainable is the dividend of EMAK SPA (EM.MI) stock?

The dividend rating of EMAK SPA (EM.MI) is 7 / 10 and the dividend payout ratio is 19.96%.