ICOP SPA (ICOP.MI) Fundamental Analysis & Valuation

BIT:ICOP • IT0001214433

23.8 EUR
+3 (+14.42%)
Last: Feb 27, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

4

Overall ICOP gets a fundamental rating of 4 out of 10. We evaluated ICOP against 43 industry peers in the Construction & Engineering industry. There are concerns on the financial health of ICOP while its profitability can be described as average. ICOP is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

5

1. ICOP.MI Profitability Analysis

1.1 Basic Checks

  • ICOP had positive earnings in the past year.
  • ICOP had a positive operating cash flow in the past year.
ICOP.MI Yearly Net Income VS EBIT VS OCF VS FCFICOP.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2021 2022 2023 2024 0 10M 20M 30M

1.2 Ratios

  • With a Return On Assets value of 4.55%, ICOP perfoms like the industry average, outperforming 55.81% of the companies in the same industry.
  • ICOP's Return On Equity of 23.31% is fine compared to the rest of the industry. ICOP outperforms 65.12% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 13.40%, ICOP is in the better half of the industry, outperforming 74.42% of the companies in the same industry.
  • ICOP had an Average Return On Invested Capital over the past 3 years of 9.45%. This is below the industry average of 11.93%.
  • The last Return On Invested Capital (13.40%) for ICOP is above the 3 year average (9.45%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.55%
ROE 23.31%
ROIC 13.4%
ROA(3y)3.57%
ROA(5y)N/A
ROE(3y)14.08%
ROE(5y)N/A
ROIC(3y)9.45%
ROIC(5y)N/A
ICOP.MI Yearly ROA, ROE, ROICICOP.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 2024 5 10 15

1.3 Margins

  • ICOP's Profit Margin of 14.41% is amongst the best of the industry. ICOP outperforms 86.05% of its industry peers.
  • ICOP's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 22.87%, ICOP belongs to the top of the industry, outperforming 93.02% of the companies in the same industry.
  • ICOP's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 22.87%
PM (TTM) 14.41%
GM N/A
OM growth 3Y321.03%
OM growth 5YN/A
PM growth 3Y75.7%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
ICOP.MI Yearly Profit, Operating, Gross MarginsICOP.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2021 2022 2023 2024 0 20 40

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3

2. ICOP.MI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ICOP is still creating some value.
  • ICOP has more shares outstanding than it did 1 year ago.
  • ICOP has a better debt/assets ratio than last year.
ICOP.MI Yearly Shares OutstandingICOP.MI Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2024 5M 10M 15M 20M 25M
ICOP.MI Yearly Total Debt VS Total AssetsICOP.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

  • ICOP has an Altman-Z score of 1.99. This is not the best score and indicates that ICOP is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 1.99, ICOP is in the better half of the industry, outperforming 67.44% of the companies in the same industry.
  • A Debt/Equity ratio of 1.20 is on the high side and indicates that ICOP has dependencies on debt financing.
  • The Debt to Equity ratio of ICOP (1.20) is worse than 72.09% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF N/A
Altman-Z 1.99
ROIC/WACC1.71
WACC7.83%
ICOP.MI Yearly LT Debt VS Equity VS FCFICOP.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2021 2022 2023 2024 0 20M 40M 60M 80M

2.3 Liquidity

  • ICOP has a Current Ratio of 1.20. This is a normal value and indicates that ICOP is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.20, ICOP is in the better half of the industry, outperforming 67.44% of the companies in the same industry.
  • A Quick Ratio of 0.79 indicates that ICOP may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.79, ICOP is not doing good in the industry: 83.72% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 1.2
Quick Ratio 0.79
ICOP.MI Yearly Current Assets VS Current LiabilitesICOP.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 50M 100M 150M 200M 250M

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8

3. ICOP.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 97.06% over the past year.
  • The Earnings Per Share has been growing by 75.63% on average over the past years. This is a very strong growth
  • Looking at the last year, ICOP shows a quite strong growth in Revenue. The Revenue has grown by 17.59% in the last year.
  • ICOP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.56% yearly.
EPS 1Y (TTM)97.06%
EPS 3Y75.63%
EPS 5YN/A
EPS Q2Q%48.4%
Revenue 1Y (TTM)17.59%
Revenue growth 3Y0.56%
Revenue growth 5YN/A
Sales Q2Q%308.42%

3.2 Future

  • The Earnings Per Share is expected to grow by 29.38% on average over the next years. This is a very strong growth
  • ICOP is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 45.15% yearly.
EPS Next Y30.46%
EPS Next 2Y40.01%
EPS Next 3Y29.38%
EPS Next 5YN/A
Revenue Next Year114.11%
Revenue Next 2Y69.51%
Revenue Next 3Y45.15%
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.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ICOP.MI Yearly Revenue VS EstimatesICOP.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
ICOP.MI Yearly EPS VS EstimatesICOP.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2024 2025 2026 2027 0.5 1 1.5

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2

4. ICOP.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 30.91, the valuation of ICOP can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of ICOP indicates a slightly more expensive valuation: ICOP is more expensive than 72.09% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.29, ICOP is valued at the same level.
  • Based on the Price/Forward Earnings ratio of 15.77, the valuation of ICOP can be described as correct.
  • 62.79% of the companies in the same industry are cheaper than ICOP, based on the Price/Forward Earnings ratio.
  • ICOP's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.57.
Industry RankSector Rank
PE 30.91
Fwd PE 15.77
ICOP.MI Price Earnings VS Forward Price EarningsICOP.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ICOP is valued a bit more expensive than 69.77% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.59
ICOP.MI Per share dataICOP.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • ICOP's earnings are expected to grow with 29.38% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.01
PEG (5Y)N/A
EPS Next 2Y40.01%
EPS Next 3Y29.38%

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

2

5. ICOP.MI Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.56%, ICOP is not a good candidate for dividend investing.
  • ICOP's Dividend Yield is slightly below the industry average, which is at 2.36.
  • Compared to an average S&P500 Dividend Yield of 1.82, ICOP's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.56%

5.2 History

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

5.3 Sustainability

  • ICOP pays out 5.94% of its income as dividend. This is a sustainable payout ratio.
DP5.94%
EPS Next 2Y40.01%
EPS Next 3Y29.38%
ICOP.MI Yearly Income VS Free CF VS DividendICOP.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2021 2022 2023 2024 0 5M 10M 15M
ICOP.MI Dividend Payout.ICOP.MI Dividend Payout, showing the Payout Ratio.ICOP.MI Dividend Payout.PayoutRetained Earnings

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ICOP.MI Fundamentals: All Metrics, Ratios and Statistics

ICOP SPA

BIT:ICOP (2/27/2026, 7:00:00 PM)

23.8

+3 (+14.42%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)09-29
Earnings (Next)03-30
Inst Owners9.83%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap756.36M
Revenue(TTM)148.88M
Net Income(TTM)21.45M
Analysts87.5
Price Target21.17 (-11.05%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.56%
Yearly Dividend0.08
Dividend Growth(5Y)N/A
DP5.94%
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)0%
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 30.91
Fwd PE 15.77
P/S 5.08
P/FCF N/A
P/OCF 269.22
P/B 8.22
P/tB 21.74
EV/EBITDA 17.59
EPS(TTM)0.77
EY3.24%
EPS(NY)1.51
Fwd EY6.34%
FCF(TTM)-0.86
FCFYN/A
OCF(TTM)0.09
OCFY0.37%
SpS4.68
BVpS2.9
TBVpS1.09
PEG (NY)1.01
PEG (5Y)N/A
Graham Number7.08
Profitability
Industry RankSector Rank
ROA 4.55%
ROE 23.31%
ROCE 16.26%
ROIC 13.4%
ROICexc 16.24%
ROICexgc 24.27%
OM 22.87%
PM (TTM) 14.41%
GM N/A
FCFM N/A
ROA(3y)3.57%
ROA(5y)N/A
ROE(3y)14.08%
ROE(5y)N/A
ROIC(3y)9.45%
ROIC(5y)N/A
ROICexc(3y)19.53%
ROICexc(5y)N/A
ROICexgc(3y)20.62%
ROICexgc(5y)N/A
ROCE(3y)11.48%
ROCE(5y)N/A
ROICexgc growth 3Y342.53%
ROICexgc growth 5YN/A
ROICexc growth 3Y334.02%
ROICexc growth 5YN/A
OM growth 3Y321.03%
OM growth 5YN/A
PM growth 3Y75.7%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.32
Health
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF N/A
Debt/EBITDA 2.18
Cap/Depr 182.44%
Cap/Sales 20.23%
Interest Coverage 250
Cash Conversion 5.56%
Profit Quality N/A
Current Ratio 1.2
Quick Ratio 0.79
Altman-Z 1.99
F-Score3
WACC7.83%
ROIC/WACC1.71
Cap/Depr(3y)172.92%
Cap/Depr(5y)N/A
Cap/Sales(3y)15.47%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)97.06%
EPS 3Y75.63%
EPS 5YN/A
EPS Q2Q%48.4%
EPS Next Y30.46%
EPS Next 2Y40.01%
EPS Next 3Y29.38%
EPS Next 5YN/A
Revenue 1Y (TTM)17.59%
Revenue growth 3Y0.56%
Revenue growth 5YN/A
Sales Q2Q%308.42%
Revenue Next Year114.11%
Revenue Next 2Y69.51%
Revenue Next 3Y45.15%
Revenue Next 5YN/A
EBIT growth 1Y160.53%
EBIT growth 3Y323.37%
EBIT growth 5YN/A
EBIT Next Year158.62%
EBIT Next 3Y53.8%
EBIT Next 5YN/A
FCF growth 1Y-89.53%
FCF growth 3Y-21.23%
FCF growth 5YN/A
OCF growth 1Y-18.72%
OCF growth 3Y28.3%
OCF growth 5YN/A

ICOP SPA / ICOP.MI FAQ

Can you provide the ChartMill fundamental rating for ICOP SPA?

ChartMill assigns a fundamental rating of 4 / 10 to ICOP.MI.


What is the valuation status for ICOP stock?

ChartMill assigns a valuation rating of 2 / 10 to ICOP SPA (ICOP.MI). This can be considered as Overvalued.


What is the profitability of ICOP stock?

ICOP SPA (ICOP.MI) has a profitability rating of 5 / 10.


What is the earnings growth outlook for ICOP SPA?

The Earnings per Share (EPS) of ICOP SPA (ICOP.MI) is expected to grow by 30.46% in the next year.


Can you provide the dividend sustainability for ICOP stock?

The dividend rating of ICOP SPA (ICOP.MI) is 2 / 10 and the dividend payout ratio is 5.94%.