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IMMOBILIARE GRANDE DISTRIBUZ (IGD.MI) Stock Fundamental Analysis

BIT:IGD - Borsa Italiana Milan - IT0005322612 - REIT - Currency: EUR

2.85  -0.05 (-1.72%)

Fundamental Rating

3

Taking everything into account, IGD scores 3 out of 10 in our fundamental rating. IGD was compared to 42 industry peers in the Diversified REITs industry. There are concerns on the financial health of IGD while its profitability can be described as average. IGD has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year IGD has reported negative net income.
IGD had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: IGD reported negative net income in multiple years.
IGD had a positive operating cash flow in each of the past 5 years.
IGD.MI Yearly Net Income VS EBIT VS OCF VS FCFIGD.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 50M -50M 100M

1.2 Ratios

Looking at the Return On Assets, with a value of -2.94%, IGD is doing worse than 72.50% of the companies in the same industry.
With a Return On Equity value of -5.65%, IGD is not doing good in the industry: 70.00% of the companies in the same industry are doing better.
The Return On Invested Capital of IGD (6.77%) is better than 95.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for IGD is in line with the industry average of 3.65%.
The last Return On Invested Capital (6.77%) for IGD is above the 3 year average (3.84%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -2.94%
ROE -5.65%
ROIC 6.77%
ROA(3y)-0.93%
ROA(5y)-1.06%
ROE(3y)-1.88%
ROE(5y)-2.26%
ROIC(3y)3.84%
ROIC(5y)3.73%
IGD.MI Yearly ROA, ROE, ROICIGD.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5

1.3 Margins

IGD has a Operating Margin (71.15%) which is in line with its industry peers.
In the last couple of years the Operating Margin of IGD has declined.
The Gross Margin of IGD (88.26%) is better than 72.50% of its industry peers.
In the last couple of years the Gross Margin of IGD has remained more or less at the same level.
Industry RankSector Rank
OM 71.15%
PM (TTM) N/A
GM 88.26%
OM growth 3Y-1.24%
OM growth 5Y-2.49%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.09%
GM growth 5Y-1.27%
IGD.MI Yearly Profit, Operating, Gross MarginsIGD.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50 -50

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2

2. Health

2.1 Basic Checks

IGD has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, IGD has about the same amount of shares outstanding.
IGD has about the same amout of shares outstanding than it did 5 years ago.
IGD has a worse debt/assets ratio than last year.
IGD.MI Yearly Shares OutstandingIGD.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M
IGD.MI Yearly Total Debt VS Total AssetsIGD.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B 2.5B

2.2 Solvency

Based on the Altman-Z score of 0.84, we must say that IGD is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.84, IGD perfoms like the industry average, outperforming 45.00% of the companies in the same industry.
IGD has a debt to FCF ratio of 31.81. This is a negative value and a sign of low solvency as IGD would need 31.81 years to pay back of all of its debts.
IGD has a Debt to FCF ratio of 31.81. This is in the lower half of the industry: IGD underperforms 77.50% of its industry peers.
IGD has a Debt/Equity ratio of 0.79. This is a neutral value indicating IGD is somewhat dependend on debt financing.
IGD's Debt to Equity ratio of 0.79 is in line compared to the rest of the industry. IGD outperforms 42.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 31.81
Altman-Z 0.84
ROIC/WACC1.42
WACC4.77%
IGD.MI Yearly LT Debt VS Equity VS FCFIGD.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 0.54 indicates that IGD may have some problems paying its short term obligations.
With a Current ratio value of 0.54, IGD perfoms like the industry average, outperforming 52.50% of the companies in the same industry.
A Quick Ratio of 0.27 indicates that IGD may have some problems paying its short term obligations.
IGD's Quick ratio of 0.27 is on the low side compared to the rest of the industry. IGD is outperformed by 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.54
Quick Ratio 0.27
IGD.MI Yearly Current Assets VS Current LiabilitesIGD.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M

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0

3. Growth

3.1 Past

IGD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.45%, which is quite good.
Looking at the last year, IGD shows a decrease in Revenue. The Revenue has decreased by -6.15% in the last year.
IGD shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.73% yearly.
EPS 1Y (TTM)14.45%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-93.84%
Revenue 1Y (TTM)-6.15%
Revenue growth 3Y0.87%
Revenue growth 5Y-0.73%
Sales Q2Q%-8.02%

3.2 Future

IGD is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -4.56% yearly.
Based on estimates for the next years, IGD will show a decrease in Revenue. The Revenue will decrease by -2.36% on average per year.
EPS Next Y-60.53%
EPS Next 2Y-19.7%
EPS Next 3Y-7.22%
EPS Next 5Y-4.56%
Revenue Next Year-6.25%
Revenue Next 2Y-4.17%
Revenue Next 3Y-2.65%
Revenue Next 5Y-2.36%

3.3 Evolution

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.
IGD.MI Yearly Revenue VS EstimatesIGD.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 50M 100M 150M
IGD.MI Yearly EPS VS EstimatesIGD.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0.2 0.4 0.6 0.8

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for IGD. In the last year negative earnings were reported.
A Price/Forward Earnings ratio of 8.86 indicates a reasonable valuation of IGD.
Based on the Price/Forward Earnings ratio, IGD is valued a bit cheaper than 70.00% of the companies in the same industry.
IGD is valuated cheaply when we compare the Price/Forward Earnings ratio to 92.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 8.86
IGD.MI Price Earnings VS Forward Price EarningsIGD.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60 80

4.2 Price Multiples

100.00% of the companies in the same industry are more expensive than IGD, based on the Enterprise Value to EBITDA ratio.
60.00% of the companies in the same industry are cheaper than IGD, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 12.12
EV/EBITDA 7
IGD.MI Per share dataIGD.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

A cheap valuation may be justified as IGD's earnings are expected to decrease with -7.22% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-19.7%
EPS Next 3Y-7.22%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 13.73%, IGD is a good candidate for dividend investing.
IGD's Dividend Yield is rather good when compared to the industry average which is at 7.06. IGD pays more dividend than 95.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.28, IGD pays a better dividend.
Industry RankSector Rank
Dividend Yield 13.73%

5.2 History

The dividend of IGD decreases each year by -7.79%.
Dividend Growth(5Y)-7.79%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

IGD's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP0%
EPS Next 2Y-19.7%
EPS Next 3Y-7.22%
IGD.MI Yearly Income VS Free CF VS DividendIGD.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M

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IMMOBILIARE GRANDE DISTRIBUZ

BIT:IGD (2/5/2025, 5:24:22 PM)

2.85

-0.05 (-1.72%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-07 2024-11-07
Earnings (Next)02-20 2025-02-20/amc
Inst Owners7.14%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap314.47M
Analysts77.14
Price Target2.89 (1.4%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 13.73%
Yearly Dividend0.3
Dividend Growth(5Y)-7.79%
DP0%
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)13.33%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.68%
EPS NY rev (3m)-36%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.38%
Revenue NY rev (3m)-0.38%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 8.86
P/S 1.39
P/FCF 12.12
P/OCF 6.68
P/B 0.32
P/tB 0.33
EV/EBITDA 7
EPS(TTM)-0.57
EYN/A
EPS(NY)0.32
Fwd EY11.29%
FCF(TTM)0.24
FCFY8.25%
OCF(TTM)0.43
OCFY14.96%
SpS2.04
BVpS8.79
TBVpS8.72
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -2.94%
ROE -5.65%
ROCE 9.03%
ROIC 6.77%
ROICexc 6.8%
ROICexgc 6.83%
OM 71.15%
PM (TTM) N/A
GM 88.26%
FCFM 11.51%
ROA(3y)-0.93%
ROA(5y)-1.06%
ROE(3y)-1.88%
ROE(5y)-2.26%
ROIC(3y)3.84%
ROIC(5y)3.73%
ROICexc(3y)3.97%
ROICexc(5y)3.88%
ROICexgc(3y)3.98%
ROICexgc(5y)3.9%
ROCE(3y)5.13%
ROCE(5y)4.98%
ROICexcg growth 3Y3.15%
ROICexcg growth 5Y-0.72%
ROICexc growth 3Y3.15%
ROICexc growth 5Y-0.69%
OM growth 3Y-1.24%
OM growth 5Y-2.49%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.09%
GM growth 5Y-1.27%
F-Score6
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 31.81
Debt/EBITDA 4.73
Cap/Depr 999.43%
Cap/Sales 9.36%
Interest Coverage 250
Cash Conversion 28.94%
Profit Quality N/A
Current Ratio 0.54
Quick Ratio 0.27
Altman-Z 0.84
F-Score6
WACC4.77%
ROIC/WACC1.42
Cap/Depr(3y)1887.84%
Cap/Depr(5y)2403.31%
Cap/Sales(3y)16.21%
Cap/Sales(5y)16.64%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.45%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-93.84%
EPS Next Y-60.53%
EPS Next 2Y-19.7%
EPS Next 3Y-7.22%
EPS Next 5Y-4.56%
Revenue 1Y (TTM)-6.15%
Revenue growth 3Y0.87%
Revenue growth 5Y-0.73%
Sales Q2Q%-8.02%
Revenue Next Year-6.25%
Revenue Next 2Y-4.17%
Revenue Next 3Y-2.65%
Revenue Next 5Y-2.36%
EBIT growth 1Y4.5%
EBIT growth 3Y-0.38%
EBIT growth 5Y-3.2%
EBIT Next Year680.86%
EBIT Next 3Y98.32%
EBIT Next 5Y51.22%
FCF growth 1Y-57.64%
FCF growth 3Y11.41%
FCF growth 5Y-2.24%
OCF growth 1Y-41.3%
OCF growth 3Y12.72%
OCF growth 5Y-0.9%