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SPIE SA (SPIE.PA) Stock Fundamental Analysis

EPA:SPIE - Euronext Paris - Matif - FR0012757854 - Common Stock - Currency: EUR

32.22  +0.56 (+1.77%)

Fundamental Rating

5

Overall SPIE gets a fundamental rating of 5 out of 10. We evaluated SPIE against 44 industry peers in the Commercial Services & Supplies industry. SPIE has a medium profitability rating, but doesn't score so well on its financial health evaluation. SPIE has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year SPIE was profitable.
SPIE had a positive operating cash flow in the past year.
SPIE had positive earnings in each of the past 5 years.
Each year in the past 5 years SPIE had a positive operating cash flow.
SPIE.PA Yearly Net Income VS EBIT VS OCF VS FCFSPIE.PA 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 200M 400M 600M

1.2 Ratios

With a Return On Assets value of 2.31%, SPIE perfoms like the industry average, outperforming 58.54% of the companies in the same industry.
SPIE has a better Return On Equity (11.64%) than 60.98% of its industry peers.
Looking at the Return On Invested Capital, with a value of 6.02%, SPIE is in line with its industry, outperforming 58.54% of the companies in the same industry.
SPIE had an Average Return On Invested Capital over the past 3 years of 5.25%. This is below the industry average of 7.78%.
The last Return On Invested Capital (6.02%) for SPIE is above the 3 year average (5.25%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.31%
ROE 11.64%
ROIC 6.02%
ROA(3y)2.09%
ROA(5y)1.75%
ROE(3y)10.11%
ROE(5y)8.83%
ROIC(3y)5.25%
ROIC(5y)4.73%
SPIE.PA Yearly ROA, ROE, ROICSPIE.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

SPIE has a Profit Margin (2.40%) which is comparable to the rest of the industry.
SPIE's Profit Margin has improved in the last couple of years.
The Operating Margin of SPIE (5.24%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of SPIE has grown nicely.
The Gross Margin of SPIE (40.38%) is comparable to the rest of the industry.
SPIE's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 5.24%
PM (TTM) 2.4%
GM 40.38%
OM growth 3Y13.03%
OM growth 5Y5.09%
PM growth 3Y50.68%
PM growth 5Y14.88%
GM growth 3Y-1.1%
GM growth 5Y1.3%
SPIE.PA Yearly Profit, Operating, Gross MarginsSPIE.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40

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2

2. Health

2.1 Basic Checks

SPIE has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
SPIE has more shares outstanding than it did 1 year ago.
SPIE has more shares outstanding than it did 5 years ago.
SPIE has a better debt/assets ratio than last year.
SPIE.PA Yearly Shares OutstandingSPIE.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
SPIE.PA Yearly Total Debt VS Total AssetsSPIE.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B

2.2 Solvency

Based on the Altman-Z score of 1.50, we must say that SPIE is in the distress zone and has some risk of bankruptcy.
SPIE has a Altman-Z score (1.50) which is in line with its industry peers.
SPIE has a debt to FCF ratio of 3.78. This is a good value and a sign of high solvency as SPIE would need 3.78 years to pay back of all of its debts.
SPIE has a Debt to FCF ratio of 3.78. This is in the better half of the industry: SPIE outperforms 70.73% of its industry peers.
A Debt/Equity ratio of 1.10 is on the high side and indicates that SPIE has dependencies on debt financing.
With a Debt to Equity ratio value of 1.10, SPIE is not doing good in the industry: 65.85% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 3.78
Altman-Z 1.5
ROIC/WACC0.96
WACC6.26%
SPIE.PA Yearly LT Debt VS Equity VS FCFSPIE.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

2.3 Liquidity

SPIE has a Current Ratio of 0.79. This is a bad value and indicates that SPIE is not financially healthy enough and could expect problems in meeting its short term obligations.
SPIE's Current ratio of 0.79 is on the low side compared to the rest of the industry. SPIE is outperformed by 85.37% of its industry peers.
A Quick Ratio of 0.77 indicates that SPIE may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.77, SPIE is doing worse than 80.49% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.79
Quick Ratio 0.77
SPIE.PA Yearly Current Assets VS Current LiabilitesSPIE.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 45.01% over the past year.
Measured over the past years, SPIE shows a quite strong growth in Earnings Per Share. The EPS has been growing by 19.93% on average per year.
SPIE shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.23%.
The Revenue has been growing slightly by 5.44% on average over the past years.
EPS 1Y (TTM)45.01%
EPS 3Y61.76%
EPS 5Y19.93%
EPS Q2Q%-21.84%
Revenue 1Y (TTM)9.23%
Revenue growth 3Y9.43%
Revenue growth 5Y5.44%
Sales Q2Q%118.03%

3.2 Future

SPIE is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.34% yearly.
Based on estimates for the next years, SPIE will show a small growth in Revenue. The Revenue will grow by 5.18% on average per year.
EPS Next Y23.62%
EPS Next 2Y16.39%
EPS Next 3Y13.34%
EPS Next 5YN/A
Revenue Next Year13.58%
Revenue Next 2Y9.98%
Revenue Next 3Y7.98%
Revenue Next 5Y5.18%

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
SPIE.PA Yearly Revenue VS EstimatesSPIE.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B 10B
SPIE.PA Yearly EPS VS EstimatesSPIE.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 24.23, SPIE is valued on the expensive side.
SPIE's Price/Earnings ratio is in line with the industry average.
The average S&P500 Price/Earnings ratio is at 28.47. SPIE is around the same levels.
The Price/Forward Earnings ratio is 11.22, which indicates a very decent valuation of SPIE.
SPIE's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SPIE is cheaper than 63.41% of the companies in the same industry.
SPIE 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 24.23
Fwd PE 11.22
SPIE.PA Price Earnings VS Forward Price EarningsSPIE.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SPIE is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, SPIE is valued a bit cheaper than the industry average as 75.61% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 7.24
EV/EBITDA 9.26
SPIE.PA Per share dataSPIE.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40

4.3 Compensation for Growth

SPIE's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of SPIE may justify a higher PE ratio.
A more expensive valuation may be justified as SPIE's earnings are expected to grow with 13.34% in the coming years.
PEG (NY)1.03
PEG (5Y)1.22
EPS Next 2Y16.39%
EPS Next 3Y13.34%

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6

5. Dividend

5.1 Amount

SPIE has a Yearly Dividend Yield of 2.71%.
SPIE's Dividend Yield is rather good when compared to the industry average which is at 3.80. SPIE pays more dividend than 80.49% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.28, SPIE has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.71%

5.2 History

The dividend of SPIE is nicely growing with an annual growth rate of 6.15%!
Dividend Growth(5Y)6.15%
Div Incr Years4
Div Non Decr Years4
SPIE.PA Yearly Dividends per shareSPIE.PA Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8

5.3 Sustainability

SPIE pays out 62.14% of its income as dividend. This is not a sustainable payout ratio.
The dividend of SPIE is growing, but earnings are growing more, so the dividend growth is sustainable.
DP62.14%
EPS Next 2Y16.39%
EPS Next 3Y13.34%
SPIE.PA Yearly Income VS Free CF VS DividendSPIE.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M
SPIE.PA Dividend Payout.SPIE.PA Dividend Payout, showing the Payout Ratio.SPIE.PA Dividend Payout.PayoutRetained Earnings

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SPIE SA

EPA:SPIE (2/4/2025, 7:00:00 PM)

32.22

+0.56 (+1.77%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)10-31 2024-10-31
Earnings (Next)N/A N/A
Inst Owners48.33%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap5.44B
Analysts84.44
Price Target41.4 (28.49%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.71%
Yearly Dividend0.77
Dividend Growth(5Y)6.15%
DP62.14%
Div Incr Years4
Div Non Decr Years4
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)-0.89%
PT rev (3m)-0.33%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.25%
EPS NY rev (3m)1.31%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.56%
Revenue NY rev (3m)-0.57%
Valuation
Industry RankSector Rank
PE 24.23
Fwd PE 11.22
P/S 0.59
P/FCF 7.24
P/OCF 6.52
P/B 2.85
P/tB N/A
EV/EBITDA 9.26
EPS(TTM)1.33
EY4.13%
EPS(NY)2.87
Fwd EY8.91%
FCF(TTM)4.45
FCFY13.81%
OCF(TTM)4.94
OCFY15.33%
SpS54.78
BVpS11.29
TBVpS-17.64
PEG (NY)1.03
PEG (5Y)1.22
Profitability
Industry RankSector Rank
ROA 2.31%
ROE 11.64%
ROCE 9.36%
ROIC 6.02%
ROICexc 6.58%
ROICexgc N/A
OM 5.24%
PM (TTM) 2.4%
GM 40.38%
FCFM 8.12%
ROA(3y)2.09%
ROA(5y)1.75%
ROE(3y)10.11%
ROE(5y)8.83%
ROIC(3y)5.25%
ROIC(5y)4.73%
ROICexc(3y)6.94%
ROICexc(5y)6.16%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)8.13%
ROCE(5y)7.29%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y20.79%
ROICexc growth 5Y9.6%
OM growth 3Y13.03%
OM growth 5Y5.09%
PM growth 3Y50.68%
PM growth 5Y14.88%
GM growth 3Y-1.1%
GM growth 5Y1.3%
F-Score4
Asset Turnover0.96
Health
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 3.78
Debt/EBITDA 2.55
Cap/Depr 24.39%
Cap/Sales 0.89%
Interest Coverage 250
Cash Conversion 101.22%
Profit Quality 338.43%
Current Ratio 0.79
Quick Ratio 0.77
Altman-Z 1.5
F-Score4
WACC6.26%
ROIC/WACC0.96
Cap/Depr(3y)24.6%
Cap/Depr(5y)27.92%
Cap/Sales(3y)0.82%
Cap/Sales(5y)0.89%
Profit Quality(3y)292.1%
Profit Quality(5y)409.24%
High Growth Momentum
Growth
EPS 1Y (TTM)45.01%
EPS 3Y61.76%
EPS 5Y19.93%
EPS Q2Q%-21.84%
EPS Next Y23.62%
EPS Next 2Y16.39%
EPS Next 3Y13.34%
EPS Next 5YN/A
Revenue 1Y (TTM)9.23%
Revenue growth 3Y9.43%
Revenue growth 5Y5.44%
Sales Q2Q%118.03%
Revenue Next Year13.58%
Revenue Next 2Y9.98%
Revenue Next 3Y7.98%
Revenue Next 5Y5.18%
EBIT growth 1Y8.59%
EBIT growth 3Y23.69%
EBIT growth 5Y10.81%
EBIT Next Year74.3%
EBIT Next 3Y26.2%
EBIT Next 5YN/A
FCF growth 1Y53.45%
FCF growth 3Y9.64%
FCF growth 5Y15.83%
OCF growth 1Y48.52%
OCF growth 3Y8.39%
OCF growth 5Y14.3%