SESA SPA (SES.MI) Fundamental Analysis & Valuation

BIT:SES • IT0004729759

77.3 EUR
+0.2 (+0.26%)
Last: Mar 6, 2026, 05:35 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

Taking everything into account, SES scores 6 out of 10 in our fundamental rating. SES was compared to 51 industry peers in the Electronic Equipment, Instruments & Components industry. While SES belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. SES is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. SES.MI Profitability Analysis

1.1 Basic Checks

  • SES had positive earnings in the past year.
  • SES had a positive operating cash flow in the past year.
  • Each year in the past 5 years SES has been profitable.
  • In the past 5 years SES always reported a positive cash flow from operatings.
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

  • With an excellent Return On Assets value of 5.19%, SES belongs to the best of the industry, outperforming 80.39% of the companies in the same industry.
  • SES has a Return On Equity of 25.96%. This is amongst the best in the industry. SES outperforms 94.12% of its industry peers.
  • SES has a Return On Invested Capital of 12.45%. This is amongst the best in the industry. SES outperforms 94.12% 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 7.01%.
  • 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's Profit Margin of 2.18% is fine compared to the rest of the industry. SES outperforms 64.71% of its industry peers.
  • In the last couple of years the Profit Margin of SES has declined.
  • SES has a better Operating Margin (3.93%) than 60.78% of its industry peers.
  • In the last couple of years the Operating Margin of SES has remained more or less at the same level.
  • SES has a Gross Margin of 25.77%. This is amonst the worse of the industry: SES underperforms 80.39% 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

  • SES has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • SES has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for SES has been reduced compared to 5 years ago.
  • 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 66.67% of the companies in the same industry.
  • The Debt to FCF ratio of SES is 2.71, which is a good value as it means it would take SES, 2.71 years of fcf income to pay off all of its debts.
  • SES has a Debt to FCF ratio of 2.71. This is in the better half of the industry: SES outperforms 76.47% of its industry peers.
  • A Debt/Equity ratio of 0.66 indicates that SES is somewhat dependend on debt financing.
  • SES's Debt to Equity ratio of 0.66 is on the low side compared to the rest of the industry. SES is outperformed by 70.59% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 2.71
Altman-Z 3.52
ROIC/WACC1.49
WACC8.33%
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

  • SES has a Current Ratio of 1.30. 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 Current ratio, with a value of 1.30, SES is doing worse than 64.71% of the companies in the same industry.
  • A Quick Ratio of 1.14 indicates that SES should not have too much problems paying its short term obligations.
  • SES has a better Quick ratio (1.14) than 64.71% of its industry peers.
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.
  • The Earnings Per Share has been growing by 10.41% on average over the past years. This is quite good.
  • The Revenue has grown by 9.57% in the past year. This is quite good.
  • 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

  • The Earnings Per Share is expected to grow by 5.22% on average over the next years.
  • 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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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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Find the best growth stocksShow best growing peers

6

4. SES.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 10.27, which indicates a very decent valuation of SES.
  • Compared to the rest of the industry, the Price/Earnings ratio of SES indicates a rather cheap valuation: SES is cheaper than 94.12% of the companies listed in the same industry.
  • SES's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.29.
  • With a Price/Forward Earnings ratio of 9.95, the valuation of SES can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, SES is valued a bit cheaper than 78.43% of the companies in the same industry.
  • SES's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.57.
Industry RankSector Rank
PE 10.27
Fwd PE 9.95
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

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 90.20% 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 76.47% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 7.45
EV/EBITDA 3.92
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

  • SES has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.99
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

  • SES has a Yearly Dividend Yield of 1.27%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 1.59, 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 1.27%

5.2 History

  • The dividend of SES is nicely growing with an annual growth rate of 8.18%!
Dividend Growth(5Y)8.18%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 14.52% of the earnings are spent on dividend by SES. This is a low number and sustainable payout ratio.
  • The dividend of SES is growing, but the earnings are growing slower. 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 (3/6/2026, 5:35:30 PM)

77.3

+0.2 (+0.26%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)12-18
Earnings (Next)03-12
Inst Owners29.63%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.19B
Revenue(TTM)5.20B
Net Income(TTM)113.08M
Analysts87.5
Price Target117.3 (51.75%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.27%
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 10.27
Fwd PE 9.95
P/S 0.23
P/FCF 7.45
P/OCF 6.57
P/B 2.72
P/tB N/A
EV/EBITDA 3.92
EPS(TTM)7.53
EY9.74%
EPS(NY)7.77
Fwd EY10.05%
FCF(TTM)10.38
FCFY13.43%
OCF(TTM)11.76
OCFY15.22%
SpS338.78
BVpS28.39
TBVpS-6.04
PEG (NY)N/A
PEG (5Y)0.99
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
WACC8.33%
ROIC/WACC1.49
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 6 / 10 to SESA SPA (SES.MI). This can be considered as Fairly Valued.


What is the profitability of SES stock?

SESA SPA (SES.MI) has a profitability rating of 7 / 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%.