SAIPEM SPA (SPM.MI) Fundamental Analysis & Valuation

BIT:SPM • IT0005495657

Current stock price

3.975 EUR
-0.12 (-2.86%)
Last:

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

4

1. SPM.MI Profitability Analysis

1.1 Basic Checks

  • SPM had positive earnings in the past year.
  • SPM had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: SPM reported negative net income in multiple years.
  • Of the past 5 years SPM 4 years had a positive operating cash flow.
SPM.MI Yearly Net Income VS EBIT VS OCF VS FCFSPM.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 0 1B -1B -2B

1.2 Ratios

  • SPM has a Return On Assets of 3.25%. This is comparable to the rest of the industry: SPM outperforms 47.22% of its industry peers.
  • SPM has a better Return On Equity (17.79%) than 72.22% of its industry peers.
  • SPM's Return On Invested Capital of 10.40% is fine compared to the rest of the industry. SPM outperforms 66.67% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SPM is below the industry average of 10.23%.
  • The last Return On Invested Capital (10.40%) for SPM is above the 3 year average (6.11%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.25%
ROE 17.79%
ROIC 10.4%
ROA(3y)1.88%
ROA(5y)-3.48%
ROE(3y)10.46%
ROE(5y)-147.09%
ROIC(3y)6.11%
ROIC(5y)N/A
SPM.MI Yearly ROA, ROE, ROICSPM.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -200 -400 -600

1.3 Margins

  • The Profit Margin of SPM (2.06%) is worse than 69.44% of its industry peers.
  • Looking at the Operating Margin, with a value of 4.56%, SPM is doing worse than 75.00% of the companies in the same industry.
  • SPM's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 30.66%, SPM is in line with its industry, outperforming 58.33% of the companies in the same industry.
  • In the last couple of years the Gross Margin of SPM has remained more or less at the same level.
Industry RankSector Rank
OM 4.56%
PM (TTM) 2.06%
GM 30.66%
OM growth 3Y69.96%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.37%
GM growth 5Y-0.35%
SPM.MI Yearly Profit, Operating, Gross MarginsSPM.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20

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4

2. SPM.MI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SPM is still creating some value.
  • The number of shares outstanding for SPM has been reduced compared to 1 year ago.
  • The number of shares outstanding for SPM has been increased compared to 5 years ago.
  • The debt/assets ratio for SPM is higher compared to a year ago.
SPM.MI Yearly Shares OutstandingSPM.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
SPM.MI Yearly Total Debt VS Total AssetsSPM.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

2.2 Solvency

  • SPM has an Altman-Z score of 2.36. This is not the best score and indicates that SPM is in the grey zone with still only limited risk for bankruptcy at the moment.
  • SPM has a better Altman-Z score (2.36) than 75.00% of its industry peers.
  • SPM has a debt to FCF ratio of 2.72. This is a good value and a sign of high solvency as SPM would need 2.72 years to pay back of all of its debts.
  • With a decent Debt to FCF ratio value of 2.72, SPM is doing good in the industry, outperforming 66.67% of the companies in the same industry.
  • SPM has a Debt/Equity ratio of 0.81. This is a neutral value indicating SPM is somewhat dependend on debt financing.
  • SPM has a Debt to Equity ratio of 0.81. This is in the lower half of the industry: SPM underperforms 69.44% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF 2.72
Altman-Z 2.36
ROIC/WACC1.49
WACC6.97%
SPM.MI Yearly LT Debt VS Equity VS FCFSPM.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 1.09 indicates that SPM should not have too much problems paying its short term obligations.
  • The Current ratio of SPM (1.09) is worse than 72.22% of its industry peers.
  • SPM has a Quick Ratio of 1.05. This is a normal value and indicates that SPM is financially healthy and should not expect problems in meeting its short term obligations.
  • SPM has a Quick ratio of 1.05. This is in the lower half of the industry: SPM underperforms 69.44% of its industry peers.
Industry RankSector Rank
Current Ratio 1.09
Quick Ratio 1.05
SPM.MI Yearly Current Assets VS Current LiabilitesSPM.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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4

3. SPM.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 7.14% over the past year.
  • Looking at the last year, SPM shows a small growth in Revenue. The Revenue has grown by 6.56% in the last year.
  • Measured over the past years, SPM shows a quite strong growth in Revenue. The Revenue has been growing by 15.95% on average per year.
EPS 1Y (TTM)7.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-20%
Revenue 1Y (TTM)6.56%
Revenue growth 3Y15.79%
Revenue growth 5Y15.95%
Sales Q2Q%2.38%

3.2 Future

  • SPM is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.14% yearly.
  • Based on estimates for the next years, SPM will show a small growth in Revenue. The Revenue will grow by 0.30% on average per year.
EPS Next Y62.87%
EPS Next 2Y39.82%
EPS Next 3Y25.7%
EPS Next 5Y17.14%
Revenue Next Year3.8%
Revenue Next 2Y1.53%
Revenue Next 3Y0.58%
Revenue Next 5Y0.3%

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.
SPM.MI Yearly Revenue VS EstimatesSPM.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B
SPM.MI Yearly EPS VS EstimatesSPM.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -2 -4

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5

4. SPM.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 26.50, which means the current valuation is very expensive for SPM.
  • Based on the Price/Earnings ratio, SPM is valued a bit more expensive than 61.11% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of SPM to the average of the S&P500 Index (27.53), we can say SPM is valued inline with the index average.
  • The Price/Forward Earnings ratio is 16.27, which indicates a correct valuation of SPM.
  • The rest of the industry has a similar Price/Forward Earnings ratio as SPM.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 37.95, SPM is valued rather cheaply.
Industry RankSector Rank
PE 26.5
Fwd PE 16.27
SPM.MI Price Earnings VS Forward Price EarningsSPM.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SPM is valued cheaper than 94.44% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, SPM is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 6.96
EV/EBITDA 3.71
SPM.MI Per share dataSPM.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • SPM's earnings are expected to grow with 25.70% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.42
PEG (5Y)N/A
EPS Next 2Y39.82%
EPS Next 3Y25.7%

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

6

5. SPM.MI Dividend Analysis

5.1 Amount

  • SPM has a Yearly Dividend Yield of 4.06%, which is a nice return.
  • Compared to an average industry Dividend Yield of 2.78, SPM pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, SPM pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.06%

5.2 History

  • The dividend of SPM is nicely growing with an annual growth rate of 35.22%!
Dividend Growth(5Y)35.22%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • SPM pays out 71.00% of its income as dividend. This is not a sustainable payout ratio.
  • SPM's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP71%
EPS Next 2Y39.82%
EPS Next 3Y25.7%
SPM.MI Yearly Income VS Free CF VS DividendSPM.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B -2B
SPM.MI Dividend Payout.SPM.MI Dividend Payout, showing the Payout Ratio.SPM.MI Dividend Payout.PayoutRetained Earnings

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SPM.MI Fundamentals: All Metrics, Ratios and Statistics

SAIPEM SPA

BIT:SPM (4/17/2026, 12:47:55 PM)

3.975

-0.12 (-2.86%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-24
Earnings (Next)04-21
Inst Owners34.98%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap7.93B
Revenue(TTM)22.80B
Net Income(TTM)469.00M
Analysts80
Price Target3.87 (-2.64%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.06%
Yearly Dividend0.17
Dividend Growth(5Y)35.22%
DP71%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-33.41%
Min EPS beat(2)-38.6%
Max EPS beat(2)-28.21%
EPS beat(4)1
Avg EPS beat(4)-25.83%
Min EPS beat(4)-44.99%
Max EPS beat(4)8.5%
EPS beat(8)2
Avg EPS beat(8)-19.45%
EPS beat(12)5
Avg EPS beat(12)-7%
EPS beat(16)9
Avg EPS beat(16)10.75%
Revenue beat(2)1
Avg Revenue beat(2)2.48%
Min Revenue beat(2)-3.68%
Max Revenue beat(2)8.65%
Revenue beat(4)1
Avg Revenue beat(4)0.82%
Min Revenue beat(4)-3.68%
Max Revenue beat(4)8.65%
Revenue beat(8)4
Avg Revenue beat(8)2.93%
Revenue beat(12)8
Avg Revenue beat(12)4.18%
Revenue beat(16)12
Avg Revenue beat(16)5.88%
PT rev (1m)15.04%
PT rev (3m)22.23%
EPS NQ rev (1m)0%
EPS NQ rev (3m)7.54%
EPS NY rev (1m)0.91%
EPS NY rev (3m)1.53%
Revenue NQ rev (1m)-0.75%
Revenue NQ rev (3m)0.59%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)0.69%
Valuation
Industry RankSector Rank
PE 26.5
Fwd PE 16.27
P/S 0.35
P/FCF 6.96
P/OCF 5.27
P/B 3.01
P/tB 4.05
EV/EBITDA 3.71
EPS(TTM)0.15
EY3.77%
EPS(NY)0.24
Fwd EY6.15%
FCF(TTM)0.57
FCFY14.37%
OCF(TTM)0.75
OCFY18.96%
SpS11.42
BVpS1.32
TBVpS0.98
PEG (NY)0.42
PEG (5Y)N/A
Graham Number2.1118 (-46.87%)
Profitability
Industry RankSector Rank
ROA 3.25%
ROE 17.79%
ROCE 17.2%
ROIC 10.4%
ROICexc 18.33%
ROICexgc 22.82%
OM 4.56%
PM (TTM) 2.06%
GM 30.66%
FCFM 5%
ROA(3y)1.88%
ROA(5y)-3.48%
ROE(3y)10.46%
ROE(5y)-147.09%
ROIC(3y)6.11%
ROIC(5y)N/A
ROICexc(3y)11.06%
ROICexc(5y)N/A
ROICexgc(3y)13.84%
ROICexgc(5y)N/A
ROCE(3y)10.14%
ROCE(5y)N/A
ROICexgc growth 3Y85.65%
ROICexgc growth 5YN/A
ROICexc growth 3Y88.2%
ROICexc growth 5YN/A
OM growth 3Y69.96%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.37%
GM growth 5Y-0.35%
F-Score8
Asset Turnover1.58
Health
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF 2.72
Debt/EBITDA 1.05
Cap/Depr 36.84%
Cap/Sales 1.6%
Interest Coverage 8.67
Cash Conversion 74.16%
Profit Quality 243.07%
Current Ratio 1.09
Quick Ratio 1.05
Altman-Z 2.36
F-Score8
WACC6.97%
ROIC/WACC1.49
Cap/Depr(3y)63.85%
Cap/Depr(5y)73.47%
Cap/Sales(3y)2.91%
Cap/Sales(5y)3.7%
Profit Quality(3y)220.42%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)7.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-20%
EPS Next Y62.87%
EPS Next 2Y39.82%
EPS Next 3Y25.7%
EPS Next 5Y17.14%
Revenue 1Y (TTM)6.56%
Revenue growth 3Y15.79%
Revenue growth 5Y15.95%
Sales Q2Q%2.38%
Revenue Next Year3.8%
Revenue Next 2Y1.53%
Revenue Next 3Y0.58%
Revenue Next 5Y0.3%
EBIT growth 1Y11.21%
EBIT growth 3Y96.79%
EBIT growth 5YN/A
EBIT Next Year183.53%
EBIT Next 3Y44.95%
EBIT Next 5Y21.68%
FCF growth 1Y57.46%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y41.75%
OCF growth 3YN/A
OCF growth 5Y64.99%

SAIPEM SPA / SPM.MI Fundamental Analysis FAQ

What is the fundamental rating for SPM stock?

ChartMill assigns a fundamental rating of 4 / 10 to SPM.MI.


Can you provide the valuation status for SAIPEM SPA?

ChartMill assigns a valuation rating of 5 / 10 to SAIPEM SPA (SPM.MI). This can be considered as Fairly Valued.


Can you provide the profitability details for SAIPEM SPA?

SAIPEM SPA (SPM.MI) has a profitability rating of 4 / 10.


What is the earnings growth outlook for SAIPEM SPA?

The Earnings per Share (EPS) of SAIPEM SPA (SPM.MI) is expected to grow by 62.87% in the next year.


Can you provide the dividend sustainability for SPM stock?

The dividend rating of SAIPEM SPA (SPM.MI) is 6 / 10 and the dividend payout ratio is 71%.