SESA SPA (SES.MI) Fundamental Analysis & Valuation

BIT:SES • IT0004729759

79.425 EUR
+3.72 (+4.92%)
Last: Mar 10, 2026, 04:49 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to SES. SES was compared to 55 industry peers in the Electronic Equipment, Instruments & Components industry. SES has only an average score on both its financial health and profitability. SES may be a bit undervalued, certainly considering the very reasonable score on growth With these ratings, SES could be worth investigating further for value investing!.


Dividend Valuation Growth Profitability Health

6

1. SES.MI Profitability Analysis

1.1 Basic Checks

  • In the past year SES was profitable.
  • SES had a positive operating cash flow in the past year.
  • SES had positive earnings in each of the past 5 years.
  • SES had a positive operating cash flow in each of the past 5 years.
SES.MI Yearly Net Income VS EBIT VS OCF VS FCFSES.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M

1.2 Ratios

  • SES has a better Return On Assets (5.19%) than 74.55% of its industry peers.
  • SES's Return On Equity of 25.96% is amongst the best of the industry. SES outperforms 92.73% of its industry peers.
  • SES has a Return On Invested Capital of 12.45%. This is amongst the best in the industry. SES outperforms 92.73% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for SES is in line with the industry average of 7.76%.
  • The 3 year average ROIC (8.40%) for SES is below the current ROIC(12.45%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.19%
ROE 25.96%
ROIC 12.45%
ROA(3y)3.62%
ROA(5y)3.97%
ROE(3y)18.23%
ROE(5y)19.35%
ROIC(3y)8.4%
ROIC(5y)8.99%
SES.MI Yearly ROA, ROE, ROICSES.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • SES has a Profit Margin (2.18%) which is in line with its industry peers.
  • In the last couple of years the Profit Margin of SES has declined.
  • With a Operating Margin value of 3.93%, SES perfoms like the industry average, outperforming 52.73% of the companies in the same industry.
  • In the last couple of years the Operating Margin of SES has remained more or less at the same level.
  • The Gross Margin of SES (25.77%) is worse than 80.00% of its industry peers.
  • In the last couple of years the Gross Margin of SES has grown nicely.
Industry RankSector Rank
OM 3.93%
PM (TTM) 2.18%
GM 25.77%
OM growth 3Y-6.32%
OM growth 5Y1.36%
PM growth 3Y-14.65%
PM growth 5Y-2.09%
GM growth 3Y4.88%
GM growth 5Y7.04%
SES.MI Yearly Profit, Operating, Gross MarginsSES.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. SES.MI Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SES is creating some value.
  • SES has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, SES has less shares outstanding
  • Compared to 1 year ago, SES has a worse debt to assets ratio.
SES.MI Yearly Shares OutstandingSES.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M
SES.MI Yearly Total Debt VS Total AssetsSES.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.2 Solvency

  • An Altman-Z score of 3.52 indicates that SES is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 3.52, SES is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
  • SES has a debt to FCF ratio of 2.71. This is a good value and a sign of high solvency as SES would need 2.71 years to pay back of all of its debts.
  • The Debt to FCF ratio of SES (2.71) is better than 76.36% of its industry peers.
  • SES has a Debt/Equity ratio of 0.66. This is a neutral value indicating SES is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.66, SES is doing worse than 70.91% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 2.71
Altman-Z 3.52
ROIC/WACC1.44
WACC8.63%
SES.MI Yearly LT Debt VS Equity VS FCFSES.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

2.3 Liquidity

  • A Current Ratio of 1.30 indicates that SES should not have too much problems paying its short term obligations.
  • SES's Current ratio of 1.30 is on the low side compared to the rest of the industry. SES is outperformed by 67.27% of its industry peers.
  • SES has a Quick Ratio of 1.14. This is a normal value and indicates that SES is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 1.14, SES is in the better half of the industry, outperforming 61.82% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.3
Quick Ratio 1.14
SES.MI Yearly Current Assets VS Current LiabilitesSES.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. SES.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 3.12% over the past year.
  • Measured over the past years, SES shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.41% on average per year.
  • Looking at the last year, SES shows a quite strong growth in Revenue. The Revenue has grown by 9.57% in the last year.
  • The Revenue has been growing by 12.77% on average over the past years. This is quite good.
EPS 1Y (TTM)3.12%
EPS 3Y-5.42%
EPS 5Y10.41%
EPS Q2Q%14%
Revenue 1Y (TTM)9.57%
Revenue growth 3Y10.81%
Revenue growth 5Y12.77%
Sales Q2Q%11.95%

3.2 Future

  • Based on estimates for the next years, SES will show a small growth in Earnings Per Share. The EPS will grow by 5.22% on average per year.
  • Based on estimates for the next years, SES will show a quite strong growth in Revenue. The Revenue will grow by 10.28% on average per year.
EPS Next Y-3.87%
EPS Next 2Y3.04%
EPS Next 3Y5.22%
EPS Next 5YN/A
Revenue Next Year5.12%
Revenue Next 2Y5.16%
Revenue Next 3Y5.19%
Revenue Next 5Y10.28%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
SES.MI Yearly Revenue VS EstimatesSES.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B
SES.MI Yearly EPS VS EstimatesSES.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8

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7

4. SES.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 10.55, which indicates a very decent valuation of SES.
  • 94.55% of the companies in the same industry are more expensive than SES, based on the Price/Earnings ratio.
  • SES's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.45.
  • Based on the Price/Forward Earnings ratio of 10.23, the valuation of SES can be described as reasonable.
  • Based on the Price/Forward Earnings ratio, SES is valued cheaply inside the industry as 81.82% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 24.65. SES is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.55
Fwd PE 10.23
SES.MI Price Earnings VS Forward Price EarningsSES.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SES indicates a rather cheap valuation: SES is cheaper than 90.91% of the companies listed in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of SES indicates a somewhat cheap valuation: SES is cheaper than 80.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 7.65
EV/EBITDA 3.85
SES.MI Per share dataSES.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 200 300

4.3 Compensation for Growth

  • The decent profitability rating of SES may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.01
EPS Next 2Y3.04%
EPS Next 3Y5.22%

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

4

5. SES.MI Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.30%, SES has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 1.50, SES has a dividend in line with its industry peers.
  • SES's Dividend Yield is slightly below the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.3%

5.2 History

  • On average, the dividend of SES grows each year by 8.18%, which is quite nice.
Dividend Growth(5Y)8.18%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • SES pays out 14.52% of its income as dividend. This is a sustainable payout ratio.
  • SES's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP14.52%
EPS Next 2Y3.04%
EPS Next 3Y5.22%
SES.MI Yearly Income VS Free CF VS DividendSES.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
SES.MI Dividend Payout.SES.MI Dividend Payout, showing the Payout Ratio.SES.MI Dividend Payout.PayoutRetained Earnings

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SES.MI Fundamentals: All Metrics, Ratios and Statistics

SESA SPA

BIT:SES (3/10/2026, 4:49:15 PM)

79.425

+3.72 (+4.92%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)12-18
Earnings (Next)03-12
Inst Owners25.79%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.22B
Revenue(TTM)5.20B
Net Income(TTM)113.08M
Analysts87.5
Price Target117.3 (47.69%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.3%
Yearly Dividend1.01
Dividend Growth(5Y)8.18%
DP14.52%
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)0.86%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)1.81%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)1.01%
Valuation
Industry RankSector Rank
PE 10.55
Fwd PE 10.23
P/S 0.23
P/FCF 7.65
P/OCF 6.75
P/B 2.8
P/tB N/A
EV/EBITDA 3.85
EPS(TTM)7.53
EY9.48%
EPS(NY)7.77
Fwd EY9.78%
FCF(TTM)10.38
FCFY13.07%
OCF(TTM)11.76
OCFY14.81%
SpS338.78
BVpS28.39
TBVpS-6.04
PEG (NY)N/A
PEG (5Y)1.01
Graham Number69.36
Profitability
Industry RankSector Rank
ROA 5.19%
ROE 25.96%
ROCE 18.71%
ROIC 12.45%
ROICexc 20.87%
ROICexgc 101.8%
OM 3.93%
PM (TTM) 2.18%
GM 25.77%
FCFM 3.06%
ROA(3y)3.62%
ROA(5y)3.97%
ROE(3y)18.23%
ROE(5y)19.35%
ROIC(3y)8.4%
ROIC(5y)8.99%
ROICexc(3y)17.81%
ROICexc(5y)23.84%
ROICexgc(3y)145.91%
ROICexgc(5y)N/A
ROCE(3y)13.17%
ROCE(5y)13.97%
ROICexgc growth 3YN/A
ROICexgc growth 5Y15.12%
ROICexc growth 3Y-28.63%
ROICexc growth 5Y-11.45%
OM growth 3Y-6.32%
OM growth 5Y1.36%
PM growth 3Y-14.65%
PM growth 5Y-2.09%
GM growth 3Y4.88%
GM growth 5Y7.04%
F-Score6
Asset Turnover2.39
Health
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 2.71
Debt/EBITDA 0.98
Cap/Depr 24.33%
Cap/Sales 0.41%
Interest Coverage 4.27
Cash Conversion 61.97%
Profit Quality 140.82%
Current Ratio 1.3
Quick Ratio 1.14
Altman-Z 3.52
F-Score6
WACC8.63%
ROIC/WACC1.44
Cap/Depr(3y)34.94%
Cap/Depr(5y)40.36%
Cap/Sales(3y)0.75%
Cap/Sales(5y)0.78%
Profit Quality(3y)135.35%
Profit Quality(5y)165.8%
High Growth Momentum
Growth
EPS 1Y (TTM)3.12%
EPS 3Y-5.42%
EPS 5Y10.41%
EPS Q2Q%14%
EPS Next Y-3.87%
EPS Next 2Y3.04%
EPS Next 3Y5.22%
EPS Next 5YN/A
Revenue 1Y (TTM)9.57%
Revenue growth 3Y10.81%
Revenue growth 5Y12.77%
Sales Q2Q%11.95%
Revenue Next Year5.12%
Revenue Next 2Y5.16%
Revenue Next 3Y5.19%
Revenue Next 5Y10.28%
EBIT growth 1Y3.56%
EBIT growth 3Y3.81%
EBIT growth 5Y14.31%
EBIT Next Year51.4%
EBIT Next 3Y20.54%
EBIT Next 5YN/A
FCF growth 1Y40.4%
FCF growth 3Y-9.53%
FCF growth 5Y2.42%
OCF growth 1Y33.82%
OCF growth 3Y-6.94%
OCF growth 5Y4.24%

SESA SPA / SES.MI FAQ

What is the fundamental rating for SES stock?

ChartMill assigns a fundamental rating of 6 / 10 to SES.MI.


What is the valuation status of SESA SPA (SES.MI) stock?

ChartMill assigns a valuation rating of 7 / 10 to SESA SPA (SES.MI). This can be considered as Undervalued.


What is the profitability of SES stock?

SESA SPA (SES.MI) has a profitability rating of 6 / 10.


What is the financial health of SESA SPA (SES.MI) stock?

The financial health rating of SESA SPA (SES.MI) is 5 / 10.


Is the dividend of SESA SPA sustainable?

The dividend rating of SESA SPA (SES.MI) is 4 / 10 and the dividend payout ratio is 14.52%.