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GENERALFINANCE SPA (GF.MI) Stock Fundamental Analysis

BIT:GF - Euronext Milan - IT0005144784 - Common Stock - Currency: EUR

14.9  +0.5 (+3.47%)

Fundamental Rating

7

Taking everything into account, GF scores 7 out of 10 in our fundamental rating. GF was compared to 50 industry peers in the Financial Services industry. GF has an excellent profitability rating, but there are some minor concerns on its financial health. An interesting combination arises when we look at growth and value: GF is growing strongly while it also seems undervalued. GF also has an excellent dividend rating. With these ratings, GF could be worth investigating further for value and dividend and growth investing!.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year GF was profitable.
In the past year GF had a positive cash flow from operations.
Each year in the past 5 years GF has been profitable.
In multiple years GF reported negative operating cash flow during the last 5 years.
GF.MI Yearly Net Income VS EBIT VS OCF VS FCFGF.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 0 10M -10M 20M

1.2 Ratios

Looking at the Return On Assets, with a value of 4.61%, GF is in line with its industry, outperforming 58.54% of the companies in the same industry.
The Return On Equity of GF (36.97%) is better than 82.93% of its industry peers.
With a Return On Invested Capital value of 4.83%, GF perfoms like the industry average, outperforming 56.10% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for GF is significantly below the industry average of 11.19%.
The 3 year average ROIC (2.93%) for GF is below the current ROIC(4.83%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.61%
ROE 36.97%
ROIC 4.83%
ROA(3y)2.68%
ROA(5y)2.65%
ROE(3y)23.81%
ROE(5y)23.33%
ROIC(3y)2.93%
ROIC(5y)2.94%
GF.MI Yearly ROA, ROE, ROICGF.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

1.3 Margins

With a decent Profit Margin value of 38.49%, GF is doing good in the industry, outperforming 73.17% of the companies in the same industry.
GF's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 59.24%, GF belongs to the top of the industry, outperforming 90.24% of the companies in the same industry.
GF's Operating Margin has improved in the last couple of years.
With an excellent Gross Margin value of 91.02%, GF belongs to the best of the industry, outperforming 90.24% of the companies in the same industry.
In the last couple of years the Gross Margin of GF has remained more or less at the same level.
Industry RankSector Rank
OM 59.24%
PM (TTM) 38.49%
GM 91.02%
OM growth 3Y6.82%
OM growth 5Y5.77%
PM growth 3Y9.45%
PM growth 5Y9.36%
GM growth 3Y-0.88%
GM growth 5Y-0.24%
GF.MI Yearly Profit, Operating, Gross MarginsGF.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

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5

2. Health

2.1 Basic Checks

GF has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
GF has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for GF remains at a similar level compared to 5 years ago.
GF has a better debt/assets ratio than last year.
GF.MI Yearly Shares OutstandingGF.MI Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M
GF.MI Yearly Total Debt VS Total AssetsGF.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

2.2 Solvency

Based on the Altman-Z score of 0.88, we must say that GF is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.88, GF is doing worse than 68.29% of the companies in the same industry.
The Debt to FCF ratio of GF is 5.53, which is a neutral value as it means it would take GF, 5.53 years of fcf income to pay off all of its debts.
GF has a Debt to FCF ratio of 5.53. This is comparable to the rest of the industry: GF outperforms 48.78% of its industry peers.
GF has a Debt/Equity ratio of 3.51. This is a high value indicating a heavy dependency on external financing.
GF's Debt to Equity ratio of 3.51 is on the low side compared to the rest of the industry. GF is outperformed by 90.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.51
Debt/FCF 5.53
Altman-Z 0.88
ROIC/WACC0.71
WACC6.78%
GF.MI Yearly LT Debt VS Equity VS FCFGF.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M 200M

2.3 Liquidity

GF has a Current Ratio of 17.10. This indicates that GF is financially healthy and has no problem in meeting its short term obligations.
GF's Current ratio of 17.10 is amongst the best of the industry. GF outperforms 95.12% of its industry peers.
GF has a Quick Ratio of 17.10. This indicates that GF is financially healthy and has no problem in meeting its short term obligations.
GF has a better Quick ratio (17.10) than 95.12% of its industry peers.
Industry RankSector Rank
Current Ratio 17.1
Quick Ratio 17.1
GF.MI Yearly Current Assets VS Current LiabilitesGF.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M

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8

3. Growth

3.1 Past

GF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 37.26%, which is quite impressive.
GF shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 38.81% yearly.
The Revenue has grown by 25.62% in the past year. This is a very strong growth!
GF shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 26.93% yearly.
EPS 1Y (TTM)37.26%
EPS 3Y41.41%
EPS 5Y38.81%
EPS Q2Q%40.98%
Revenue 1Y (TTM)25.62%
Revenue growth 3Y29.21%
Revenue growth 5Y26.93%
Sales Q2Q%26.12%

3.2 Future

GF is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.89% yearly.
The Revenue is expected to grow by 17.81% on average over the next years. This is quite good.
EPS Next Y28.51%
EPS Next 2Y21.9%
EPS Next 3Y17.89%
EPS Next 5YN/A
Revenue Next Year28.96%
Revenue Next 2Y20.88%
Revenue Next 3Y17.81%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
GF.MI Yearly Revenue VS EstimatesGF.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M
GF.MI Yearly EPS VS EstimatesGF.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

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9

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 7.03 indicates a rather cheap valuation of GF.
Based on the Price/Earnings ratio, GF is valued a bit cheaper than the industry average as 75.61% of the companies are valued more expensively.
GF's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 29.35.
With a Price/Forward Earnings ratio of 7.82, the valuation of GF can be described as very cheap.
GF's Price/Forward Earnings ratio is rather cheap when compared to the industry. GF is cheaper than 87.80% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.10. GF is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 7.03
Fwd PE 7.82
GF.MI Price Earnings VS Forward Price EarningsGF.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

GF's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. GF is cheaper than 65.85% of the companies in the same industry.
90.24% of the companies in the same industry are more expensive than GF, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 4.08
EV/EBITDA 6.9
GF.MI Per share dataGF.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

4.3 Compensation for Growth

GF's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
GF has a very decent profitability rating, which may justify a higher PE ratio.
GF's earnings are expected to grow with 17.89% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.25
PEG (5Y)0.18
EPS Next 2Y21.9%
EPS Next 3Y17.89%

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7

5. Dividend

5.1 Amount

GF has a Yearly Dividend Yield of 4.54%, which is a nice return.
GF's Dividend Yield is rather good when compared to the industry average which is at 3.76. GF pays more dividend than 82.93% of the companies in the same industry.
GF's Dividend Yield is rather good when compared to the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 4.54%

5.2 History

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

5.3 Sustainability

27.79% of the earnings are spent on dividend by GF. This is a low number and sustainable payout ratio.
DP27.79%
EPS Next 2Y21.9%
EPS Next 3Y17.89%
GF.MI Yearly Income VS Free CF VS DividendGF.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 0 10M -10M
GF.MI Dividend Payout.GF.MI Dividend Payout, showing the Payout Ratio.GF.MI Dividend Payout.PayoutRetained Earnings

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GENERALFINANCE SPA

BIT:GF (3/7/2025, 7:00:00 PM)

14.9

+0.5 (+3.47%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners15.65%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap188.34M
Analysts86
Price Target14.18 (-4.83%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.54%
Yearly Dividend0.43
Dividend Growth(5Y)N/A
DP27.79%
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)4.91%
PT rev (3m)9.88%
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)-0.89%
Valuation
Industry RankSector Rank
PE 7.03
Fwd PE 7.82
P/S 2.7
P/FCF 4.08
P/OCF 3.84
P/B 2.6
P/tB 2.71
EV/EBITDA 6.9
EPS(TTM)2.12
EY14.23%
EPS(NY)1.91
Fwd EY12.79%
FCF(TTM)3.65
FCFY24.49%
OCF(TTM)3.88
OCFY26.02%
SpS5.51
BVpS5.74
TBVpS5.5
PEG (NY)0.25
PEG (5Y)0.18
Profitability
Industry RankSector Rank
ROA 4.61%
ROE 36.97%
ROCE 7.18%
ROIC 4.83%
ROICexc 6.09%
ROICexgc 6.2%
OM 59.24%
PM (TTM) 38.49%
GM 91.02%
FCFM 66.18%
ROA(3y)2.68%
ROA(5y)2.65%
ROE(3y)23.81%
ROE(5y)23.33%
ROIC(3y)2.93%
ROIC(5y)2.94%
ROICexc(3y)3.19%
ROICexc(5y)3.1%
ROICexgc(3y)3.2%
ROICexgc(5y)3.11%
ROCE(3y)4.36%
ROCE(5y)4.38%
ROICexcg growth 3Y5.13%
ROICexcg growth 5Y-2.19%
ROICexc growth 3Y5.06%
ROICexc growth 5Y-1.97%
OM growth 3Y6.82%
OM growth 5Y5.77%
PM growth 3Y9.45%
PM growth 5Y9.36%
GM growth 3Y-0.88%
GM growth 5Y-0.24%
F-Score8
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 3.51
Debt/FCF 5.53
Debt/EBITDA 5.95
Cap/Depr 190.27%
Cap/Sales 4.14%
Interest Coverage 250
Cash Conversion 114.49%
Profit Quality 171.93%
Current Ratio 17.1
Quick Ratio 17.1
Altman-Z 0.88
F-Score8
WACC6.78%
ROIC/WACC0.71
Cap/Depr(3y)115.73%
Cap/Depr(5y)107.61%
Cap/Sales(3y)3.78%
Cap/Sales(5y)4.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)37.26%
EPS 3Y41.41%
EPS 5Y38.81%
EPS Q2Q%40.98%
EPS Next Y28.51%
EPS Next 2Y21.9%
EPS Next 3Y17.89%
EPS Next 5YN/A
Revenue 1Y (TTM)25.62%
Revenue growth 3Y29.21%
Revenue growth 5Y26.93%
Sales Q2Q%26.12%
Revenue Next Year28.96%
Revenue Next 2Y20.88%
Revenue Next 3Y17.81%
Revenue Next 5YN/A
EBIT growth 1Y35.52%
EBIT growth 3Y38.02%
EBIT growth 5Y34.25%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-514.21%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-854.91%
OCF growth 3YN/A
OCF growth 5YN/A