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EUROTECH SPA (ETH.MI) Stock Fundamental Analysis

BIT:ETH - Euronext Milan - IT0003895668 - Common Stock - Currency: EUR

0.79  -0.01 (-0.63%)

Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to ETH. ETH was compared to 29 industry peers in the Technology Hardware, Storage & Peripherals industry. ETH has a bad profitability rating. Also its financial health evaluation is rather negative. ETH does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

ETH had negative earnings in the past year.
In the past year ETH had a positive cash flow from operations.
In multiple years ETH reported negative net income over the last 5 years.
Of the past 5 years ETH 4 years had a positive operating cash flow.
ETH.MI Yearly Net Income VS EBIT VS OCF VS FCFETH.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 10M -10M 20M

1.2 Ratios

ETH has a Return On Assets of -7.94%. This is in the lower half of the industry: ETH underperforms 71.43% of its industry peers.
ETH has a Return On Equity (-12.45%) which is in line with its industry peers.
Industry RankSector Rank
ROA -7.94%
ROE -12.45%
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ETH.MI Yearly ROA, ROE, ROICETH.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10 15

1.3 Margins

ETH has a Gross Margin of 52.03%. This is amongst the best in the industry. ETH outperforms 89.29% of its industry peers.
In the last couple of years the Gross Margin of ETH has remained more or less at the same level.
ETH does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 52.03%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.56%
GM growth 5Y-0.08%
ETH.MI Yearly Profit, Operating, Gross MarginsETH.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40

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2

2. Health

2.1 Basic Checks

ETH does not have a ROIC to compare to the WACC, probably because it is not profitable.
ETH has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
ETH.MI Yearly Shares OutstandingETH.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 10M 20M 30M
ETH.MI Yearly Total Debt VS Total AssetsETH.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 50M 100M 150M

2.2 Solvency

ETH has an Altman-Z score of 0.70. This is a bad value and indicates that ETH is not financially healthy and even has some risk of bankruptcy.
ETH has a worse Altman-Z score (0.70) than 67.86% of its industry peers.
ETH has a Debt/Equity ratio of 0.29. This is a healthy value indicating a solid balance between debt and equity.
ETH has a Debt to Equity ratio of 0.29. This is in the better half of the industry: ETH outperforms 67.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Altman-Z 0.7
ROIC/WACCN/A
WACC7.26%
ETH.MI Yearly LT Debt VS Equity VS FCFETH.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M 40M 60M 80M 100M

2.3 Liquidity

A Current Ratio of 1.60 indicates that ETH should not have too much problems paying its short term obligations.
ETH's Current ratio of 1.60 is in line compared to the rest of the industry. ETH outperforms 57.14% of its industry peers.
ETH has a Quick Ratio of 1.60. This is a bad value and indicates that ETH is not financially healthy enough and could expect problems in meeting its short term obligations.
ETH's Quick ratio of 0.81 is on the low side compared to the rest of the industry. ETH is outperformed by 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.6
Quick Ratio 0.81
ETH.MI Yearly Current Assets VS Current LiabilitesETH.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M

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3

3. Growth

3.1 Past

ETH shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -1308.40%.
The Revenue has grown by 30.93% in the past year. This is a very strong growth!
ETH shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.46% yearly.
EPS 1Y (TTM)-1308.4%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-767.47%
Revenue 1Y (TTM)30.93%
Revenue growth 3Y10.62%
Revenue growth 5Y3.46%
Sales Q2Q%-37.89%

3.2 Future

The Earnings Per Share is expected to grow by 25.99% on average over the next years. This is a very strong growth
Based on estimates for the next years, ETH will show a decrease in Revenue. The Revenue will decrease by -4.62% on average per year.
EPS Next Y-314.29%
EPS Next 2Y-36.28%
EPS Next 3Y25.99%
EPS Next 5YN/A
Revenue Next Year-37.11%
Revenue Next 2Y-13.13%
Revenue Next 3Y-4.62%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ETH.MI Yearly Revenue VS EstimatesETH.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M 100M
ETH.MI Yearly EPS VS EstimatesETH.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 -0.2 0.4

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1

4. Valuation

4.1 Price/Earnings Ratio

ETH reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year ETH is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
ETH.MI Price Earnings VS Forward Price EarningsETH.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, ETH is valued a bit more expensive than the industry average as 67.86% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 65.09
ETH.MI Per share dataETH.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3

4.3 Compensation for Growth

A more expensive valuation may be justified as ETH's earnings are expected to grow with 25.99% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-36.28%
EPS Next 3Y25.99%

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0

5. Dividend

5.1 Amount

No dividends for ETH!.
Industry RankSector Rank
Dividend Yield N/A

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EUROTECH SPA

BIT:ETH (3/6/2025, 4:53:15 PM)

0.79

-0.01 (-0.63%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)11-14 2024-11-14
Earnings (Next)03-17 2025-03-17/amc
Inst Owners5%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap28.06M
Analysts45.71
Price Target1.02 (29.11%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
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)-7.41%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-6.15%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.21
P/FCF N/A
P/OCF 24.88
P/B 0.32
P/tB 8.57
EV/EBITDA 65.09
EPS(TTM)-0.32
EYN/A
EPS(NY)-0.13
Fwd EYN/A
FCF(TTM)-0.06
FCFYN/A
OCF(TTM)0.03
OCFY4.02%
SpS3.85
BVpS2.49
TBVpS0.09
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -7.94%
ROE -12.45%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 52.03%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.56%
GM growth 5Y-0.08%
F-Score5
Asset Turnover0.98
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Debt/EBITDA 41.11
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion 180.19%
Profit Quality N/A
Current Ratio 1.6
Quick Ratio 0.81
Altman-Z 0.7
F-Score5
WACC7.26%
ROIC/WACCN/A
Cap/Depr(3y)73.78%
Cap/Depr(5y)89.2%
Cap/Sales(3y)5.31%
Cap/Sales(5y)5.42%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1308.4%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-767.47%
EPS Next Y-314.29%
EPS Next 2Y-36.28%
EPS Next 3Y25.99%
EPS Next 5YN/A
Revenue 1Y (TTM)30.93%
Revenue growth 3Y10.62%
Revenue growth 5Y3.46%
Sales Q2Q%-37.89%
Revenue Next Year-37.11%
Revenue Next 2Y-13.13%
Revenue Next 3Y-4.62%
Revenue Next 5YN/A
EBIT growth 1Y-308.24%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-257.73%
EBIT Next 3Y47.45%
EBIT Next 5YN/A
FCF growth 1Y77.3%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y131.46%
OCF growth 3Y-17.42%
OCF growth 5Y-29%