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INNOVATEC SPA (INC.MI) Stock Fundamental Analysis

BIT:INC - Euronext Milan - IT0005412298 - Common Stock - Currency: EUR

0.2045  +0.01 (+2.76%)

Fundamental Rating

4

INC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 59 industry peers in the Electrical Equipment industry. While INC is still in line with the averages on profitability rating, there are concerns on its financial health. INC has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination!


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year INC was profitable.
INC had a positive operating cash flow in the past year.
In the past 5 years INC has always been profitable.
In the past 5 years INC always reported a positive cash flow from operatings.
INC.MI Yearly Net Income VS EBIT VS OCF VS FCFINC.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 -20M -30M

1.2 Ratios

With a Return On Assets value of 0.44%, INC perfoms like the industry average, outperforming 55.00% of the companies in the same industry.
INC's Return On Equity of 3.37% is in line compared to the rest of the industry. INC outperforms 55.00% of its industry peers.
INC has a Return On Invested Capital of 6.62%. This is in the better half of the industry: INC outperforms 65.00% of its industry peers.
INC had an Average Return On Invested Capital over the past 3 years of 8.39%. This is in line with the industry average of 8.25%.
Industry RankSector Rank
ROA 0.44%
ROE 3.37%
ROIC 6.62%
ROA(3y)2.56%
ROA(5y)3.95%
ROE(3y)16.89%
ROE(5y)18.21%
ROIC(3y)8.39%
ROIC(5y)9.92%
INC.MI Yearly ROA, ROE, ROICINC.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50 -50 100 -100 150

1.3 Margins

With a Profit Margin value of 0.59%, INC perfoms like the industry average, outperforming 55.00% of the companies in the same industry.
In the last couple of years the Profit Margin of INC has declined.
INC's Operating Margin of 6.00% is in line compared to the rest of the industry. INC outperforms 60.00% of its industry peers.
INC's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 26.75%, INC perfoms like the industry average, outperforming 41.67% of the companies in the same industry.
In the last couple of years the Gross Margin of INC has declined.
Industry RankSector Rank
OM 6%
PM (TTM) 0.59%
GM 26.75%
OM growth 3Y-20.68%
OM growth 5Y-25.94%
PM growth 3Y-78.28%
PM growth 5Y-77.96%
GM growth 3Y34.61%
GM growth 5Y-12.84%
INC.MI Yearly Profit, Operating, Gross MarginsINC.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

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so INC is still creating some value.
Compared to 1 year ago, INC has about the same amount of shares outstanding.
Compared to 5 years ago, INC has more shares outstanding
Compared to 1 year ago, INC has a worse debt to assets ratio.
INC.MI Yearly Shares OutstandingINC.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
INC.MI Yearly Total Debt VS Total AssetsINC.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

2.2 Solvency

Based on the Altman-Z score of 0.94, we must say that INC is in the distress zone and has some risk of bankruptcy.
INC has a worse Altman-Z score (0.94) than 65.00% of its industry peers.
The Debt to FCF ratio of INC is 11.04, which is on the high side as it means it would take INC, 11.04 years of fcf income to pay off all of its debts.
INC has a Debt to FCF ratio of 11.04. This is in the better half of the industry: INC outperforms 61.67% of its industry peers.
A Debt/Equity ratio of 0.95 indicates that INC is somewhat dependend on debt financing.
INC has a worse Debt to Equity ratio (0.95) than 80.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.95
Debt/FCF 11.04
Altman-Z 0.94
ROIC/WACC1
WACC6.59%
INC.MI Yearly LT Debt VS Equity VS FCFINC.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

2.3 Liquidity

A Current Ratio of 0.83 indicates that INC may have some problems paying its short term obligations.
With a Current ratio value of 0.83, INC is not doing good in the industry: 88.33% of the companies in the same industry are doing better.
A Quick Ratio of 0.70 indicates that INC may have some problems paying its short term obligations.
INC's Quick ratio of 0.70 is on the low side compared to the rest of the industry. INC is outperformed by 71.67% of its industry peers.
Industry RankSector Rank
Current Ratio 0.83
Quick Ratio 0.7
INC.MI Yearly Current Assets VS Current LiabilitesINC.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M

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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 376.47% over the past year.
INC shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -68.96% yearly.
INC shows a small growth in Revenue. In the last year, the Revenue has grown by 6.24%.
The Revenue has been growing by 48.90% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)376.47%
EPS 3Y-54.64%
EPS 5Y-68.96%
EPS Q2Q%48.56%
Revenue 1Y (TTM)6.24%
Revenue growth 3Y109.25%
Revenue growth 5Y48.9%
Sales Q2Q%13.03%

3.2 Future

The Earnings Per Share is expected to grow by 71.00% on average over the next years. This is a very strong growth
INC is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.92% yearly.
EPS Next Y100%
EPS Next 2Y84.39%
EPS Next 3Y71%
EPS Next 5YN/A
Revenue Next Year14.44%
Revenue Next 2Y15.85%
Revenue Next 3Y16.46%
Revenue Next 5Y12.92%

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 estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
INC.MI Yearly Revenue VS EstimatesINC.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
INC.MI Yearly EPS VS EstimatesINC.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.1 -0.1 0.2

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8

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 20.45, which indicates a rather expensive current valuation of INC.
Based on the Price/Earnings ratio, INC is valued a bit cheaper than the industry average as 68.33% of the companies are valued more expensively.
INC's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.35.
With a Price/Forward Earnings ratio of 1.19, the valuation of INC can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of INC indicates a rather cheap valuation: INC is cheaper than 100.00% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, INC is valued rather cheaply.
Industry RankSector Rank
PE 20.45
Fwd PE 1.19
INC.MI Price Earnings VS Forward Price EarningsINC.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of INC indicates a rather cheap valuation: INC is cheaper than 96.67% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of INC indicates a rather cheap valuation: INC is cheaper than 100.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 3.39
EV/EBITDA 2.18
INC.MI Per share dataINC.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5 2

4.3 Compensation for Growth

INC's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
INC's earnings are expected to grow with 71.00% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.2
PEG (5Y)N/A
EPS Next 2Y84.39%
EPS Next 3Y71%

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0

5. Dividend

5.1 Amount

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

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INNOVATEC SPA

BIT:INC (3/6/2025, 7:00:00 PM)

0.2045

+0.01 (+2.76%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners0.39%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap19.72M
Analysts80
Price Target1.84 (799.76%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
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)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 20.45
Fwd PE 1.19
P/S 0.09
P/FCF 3.39
P/OCF 1.18
P/B 0.49
P/tB N/A
EV/EBITDA 2.18
EPS(TTM)0.01
EY4.89%
EPS(NY)0.17
Fwd EY83.96%
FCF(TTM)0.06
FCFY29.47%
OCF(TTM)0.17
OCFY84.7%
SpS2.39
BVpS0.42
TBVpS-0.37
PEG (NY)0.2
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.44%
ROE 3.37%
ROCE 8.82%
ROIC 6.62%
ROICexc 7.18%
ROICexgc 15.33%
OM 6%
PM (TTM) 0.59%
GM 26.75%
FCFM 2.53%
ROA(3y)2.56%
ROA(5y)3.95%
ROE(3y)16.89%
ROE(5y)18.21%
ROIC(3y)8.39%
ROIC(5y)9.92%
ROICexc(3y)10.13%
ROICexc(5y)14.42%
ROICexgc(3y)20.38%
ROICexgc(5y)28.83%
ROCE(3y)11.19%
ROCE(5y)13.23%
ROICexcg growth 3Y16.97%
ROICexcg growth 5Y-44.59%
ROICexc growth 3Y25.51%
ROICexc growth 5Y-36.92%
OM growth 3Y-20.68%
OM growth 5Y-25.94%
PM growth 3Y-78.28%
PM growth 5Y-77.96%
GM growth 3Y34.61%
GM growth 5Y-12.84%
F-Score6
Asset Turnover0.75
Health
Industry RankSector Rank
Debt/Equity 0.95
Debt/FCF 11.04
Debt/EBITDA 1.23
Cap/Depr 62.03%
Cap/Sales 4.73%
Interest Coverage 250
Cash Conversion 53.27%
Profit Quality 425.74%
Current Ratio 0.83
Quick Ratio 0.7
Altman-Z 0.94
F-Score6
WACC6.59%
ROIC/WACC1
Cap/Depr(3y)110.94%
Cap/Depr(5y)171.29%
Cap/Sales(3y)6.25%
Cap/Sales(5y)6.78%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)376.47%
EPS 3Y-54.64%
EPS 5Y-68.96%
EPS Q2Q%48.56%
EPS Next Y100%
EPS Next 2Y84.39%
EPS Next 3Y71%
EPS Next 5YN/A
Revenue 1Y (TTM)6.24%
Revenue growth 3Y109.25%
Revenue growth 5Y48.9%
Sales Q2Q%13.03%
Revenue Next Year14.44%
Revenue Next 2Y15.85%
Revenue Next 3Y16.46%
Revenue Next 5Y12.92%
EBIT growth 1Y96.34%
EBIT growth 3Y65.97%
EBIT growth 5Y10.28%
EBIT Next Year263.49%
EBIT Next 3Y78.7%
EBIT Next 5Y57.55%
FCF growth 1Y263.85%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y50.74%
OCF growth 3Y-18.84%
OCF growth 5Y20.73%