FIERA MILANO SPA (FM.MI) Stock Fundamental Analysis
BIT:FM - Euronext Milan - IT0003365613 - Common Stock - Currency: EUR
We assign a fundamental rating of 3 out of 10 to FM. FM was compared to 62 industry peers in the Media industry. There are concerns on the financial health of FM while its profitability can be described as average. FM has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year FM was profitable.
FM had a positive operating cash flow in the past year.
In multiple years FM reported negative net income over the last 5 years.
FM had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.03%, FM is in line with its industry, outperforming 58.06% of the companies in the same industry.
FM's Return On Equity of 12.72% is fine compared to the rest of the industry. FM outperforms 67.74% of its industry peers.
FM has a Return On Invested Capital (5.87%) which is in line with its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FM is below the industry average of 8.15%.
The 3 year average ROIC (3.92%) for FM is below the current ROIC(5.87%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.03% | ||
| ROE | 12.72% | ||
| ROIC | 5.87% |
ROA(3y)2.72%
ROA(5y)1.75%
ROE(3y)12.58%
ROE(5y)4.94%
ROIC(3y)3.92%
ROIC(5y)N/A
1.3 Margins
FM has a Profit Margin of 5.17%. This is in the better half of the industry: FM outperforms 66.13% of its industry peers.
FM's Profit Margin has declined in the last couple of years.
FM has a Operating Margin of 8.91%. This is in the better half of the industry: FM outperforms 66.13% of its industry peers.
FM's Operating Margin has declined in the last couple of years.
FM's Gross Margin of 57.18% is in line compared to the rest of the industry. FM outperforms 54.84% of its industry peers.
FM's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.91% | ||
| PM (TTM) | 5.17% | ||
| GM | 57.18% |
OM growth 3YN/A
OM growth 5Y-13.99%
PM growth 3Y-42.06%
PM growth 5Y-10.53%
GM growth 3Y3.78%
GM growth 5Y-3.18%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so FM is still creating some value.
The number of shares outstanding for FM has been reduced compared to 1 year ago.
FM has about the same amout of shares outstanding than it did 5 years ago.
The debt/assets ratio for FM has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.40, we must say that FM is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.40, FM is in line with its industry, outperforming 41.94% of the companies in the same industry.
The Debt to FCF ratio of FM is 6.51, which is on the high side as it means it would take FM, 6.51 years of fcf income to pay off all of its debts.
FM has a Debt to FCF ratio of 6.51. This is comparable to the rest of the industry: FM outperforms 48.39% of its industry peers.
A Debt/Equity ratio of 1.88 is on the high side and indicates that FM has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.88, FM is doing worse than 75.81% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.88 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 1.4 |
ROIC/WACC1.08
WACC5.42%
2.3 Liquidity
A Current Ratio of 0.77 indicates that FM may have some problems paying its short term obligations.
FM has a Current ratio of 0.77. This is in the lower half of the industry: FM underperforms 74.19% of its industry peers.
FM has a Quick Ratio of 0.77. This is a bad value and indicates that FM is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.73, FM is not doing good in the industry: 74.19% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
The earnings per share for FM have decreased strongly by -82.30% in the last year.
Measured over the past years, FM shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -10.93% on average per year.
The Revenue has decreased by -6.19% in the past year.
Measured over the past years, FM shows a decrease in Revenue. The Revenue has been decreasing by -0.47% on average per year.
EPS 1Y (TTM)-82.3%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%-141.89%
Revenue 1Y (TTM)-6.19%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%-11.97%
3.2 Future
The Earnings Per Share is expected to grow by 49.90% on average over the next years. This is a very strong growth
FM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.18% yearly.
EPS Next Y215.79%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
EPS Next 5YN/A
Revenue Next Year26.52%
Revenue Next 2Y9.23%
Revenue Next 3Y10.69%
Revenue Next 5Y3.18%
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.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 45.38 indicates a quite expensive valuation of FM.
The rest of the industry has a similar Price/Earnings ratio as FM.
Compared to an average S&P500 Price/Earnings ratio of 27.30, FM is valued quite expensively.
A Price/Forward Earnings ratio of 17.90 indicates a rather expensive valuation of FM.
FM's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of FM to the average of the S&P500 Index (21.76), we can say FM is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 45.38 | ||
| Fwd PE | 17.9 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FM is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, FM is valued a bit cheaper than the industry average as 69.35% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.04 | ||
| EV/EBITDA | 7.58 |
4.3 Compensation for Growth
FM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as FM's earnings are expected to grow with 49.90% in the coming years.
PEG (NY)0.21
PEG (5Y)N/A
EPS Next 2Y29.78%
EPS Next 3Y49.9%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.42%, FM has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.44, FM pays a bit more dividend than its industry peers.
FM's Dividend Yield is a higher than the S&P500 average which is at 2.37.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.42% |
5.2 History
The dividend of FM is nicely growing with an annual growth rate of 86.01%!
Dividend Growth(5Y)86.01%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
49.96% of the earnings are spent on dividend by FM. This is a bit on the high side, but may be sustainable.
FM's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP49.96%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
BIT:FM (7/11/2025, 7:00:00 PM)
5.9
+0.13 (+2.25%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)
Earnings (Next)
Inst Owners8.82%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap424.33M
Analysts86.67
Price Target6.43 (8.98%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.42% |
Yearly Dividend0.14
Dividend Growth(5Y)86.01%
DP49.96%
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)1.61%
PT rev (3m)1.61%
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)1.83%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 45.38 | ||
| Fwd PE | 17.9 | ||
| P/S | 1.1 | ||
| P/FCF | 8.04 | ||
| P/OCF | 7.39 | ||
| P/B | 2.71 | ||
| P/tB | 8.07 | ||
| EV/EBITDA | 7.58 |
EPS(TTM)0.13
EY2.2%
EPS(NY)0.33
Fwd EY5.59%
FCF(TTM)0.73
FCFY12.44%
OCF(TTM)0.8
OCFY13.53%
SpS5.36
BVpS2.18
TBVpS0.73
PEG (NY)0.21
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.03% | ||
| ROE | 12.72% | ||
| ROCE | 7.4% | ||
| ROIC | 5.87% | ||
| ROICexc | 7.29% | ||
| ROICexgc | 10.09% | ||
| OM | 8.91% | ||
| PM (TTM) | 5.17% | ||
| GM | 57.18% | ||
| FCFM | 13.69% |
ROA(3y)2.72%
ROA(5y)1.75%
ROE(3y)12.58%
ROE(5y)4.94%
ROIC(3y)3.92%
ROIC(5y)N/A
ROICexc(3y)5.12%
ROICexc(5y)N/A
ROICexgc(3y)7.06%
ROICexgc(5y)N/A
ROCE(3y)4.95%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y-7.85%
ROICexc growth 3YN/A
ROICexc growth 5Y-9.28%
OM growth 3YN/A
OM growth 5Y-13.99%
PM growth 3Y-42.06%
PM growth 5Y-10.53%
GM growth 3Y3.78%
GM growth 5Y-3.18%
F-Score6
Asset Turnover0.59
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.88 | ||
| Debt/FCF | 6.51 | ||
| Debt/EBITDA | 3.43 | ||
| Cap/Depr | 9.01% | ||
| Cap/Sales | 1.2% | ||
| Interest Coverage | 2.85 | ||
| Cash Conversion | 66.89% | ||
| Profit Quality | 264.75% | ||
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.73 | ||
| Altman-Z | 1.4 |
F-Score6
WACC5.42%
ROIC/WACC1.08
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)1.89%
Cap/Sales(5y)3.77%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-82.3%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%-141.89%
EPS Next Y215.79%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
EPS Next 5YN/A
Revenue 1Y (TTM)-6.19%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%-11.97%
Revenue Next Year26.52%
Revenue Next 2Y9.23%
Revenue Next 3Y10.69%
Revenue Next 5Y3.18%
EBIT growth 1Y-1.63%
EBIT growth 3YN/A
EBIT growth 5Y-14.4%
EBIT Next Year361.24%
EBIT Next 3Y69.66%
EBIT Next 5YN/A
FCF growth 1Y-40.98%
FCF growth 3Y-21.05%
FCF growth 5Y-9.2%
OCF growth 1Y-40.04%
OCF growth 3Y-20.25%
OCF growth 5Y-9.22%