SAIPEM SPA (SPM.MI) Fundamental Analysis & Valuation

BIT:SPM • IT0005495657

Current stock price

4.133 EUR
-0.05 (-1.31%)
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.
  • In the past year SPM had a positive cash flow from operations.
  • 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 (3.25%) which is in line with its industry peers.
  • The Return On Equity of SPM (17.79%) is better than 72.22% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 10.40%, SPM is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • 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

  • SPM has a Profit Margin of 2.06%. This is in the lower half of the industry: SPM underperforms 69.44% of its industry peers.
  • The Operating Margin of SPM (4.56%) is worse than 75.00% of its industry peers.
  • In the last couple of years the Operating Margin of SPM has grown nicely.
  • SPM has a Gross Margin (30.66%) which is comparable to the rest of the industry.
  • SPM's Gross Margin has been stable in the last couple of years.
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

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SPM is creating some value.
  • SPM has less shares outstanding than it did 1 year ago.
  • SPM has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, SPM has a worse debt to assets ratio.
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

  • An Altman-Z score of 2.36 indicates that SPM is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • The Altman-Z score of SPM (2.36) is better 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.
  • Looking at the Debt to Equity ratio, with a value of 0.81, SPM is doing worse than 69.44% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF 2.72
Altman-Z 2.36
ROIC/WACC1.49
WACC6.98%
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.
  • Looking at the Quick ratio, with a value of 1.05, SPM is doing worse than 69.44% of the companies in the same industry.
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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. SPM.MI Growth Analysis

3.1 Past

  • SPM shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.14%.
  • The Revenue has been growing slightly by 6.56% in the past year.
  • SPM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.95% yearly.
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

  • Based on estimates for the next years, SPM will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.14% on average per year.
  • SPM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.30% yearly.
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

  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

  • SPM is valuated quite expensively with a Price/Earnings ratio of 27.55.
  • SPM's Price/Earnings ratio is a bit more expensive when compared to the industry. SPM is more expensive than 61.11% of the companies in the same industry.
  • SPM is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.86, which is the current average of the S&P500 Index.
  • SPM is valuated correctly with a Price/Forward Earnings ratio of 16.92.
  • The rest of the industry has a similar Price/Forward Earnings ratio as SPM.
  • The average S&P500 Price/Forward Earnings ratio is at 37.39. SPM is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 27.55
Fwd PE 16.92
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

  • 94.44% of the companies in the same industry are more expensive than SPM, based on the Enterprise Value to EBITDA ratio.
  • 75.00% of the companies in the same industry are more expensive than SPM, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 7.24
EV/EBITDA 3.75
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)0.44
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.
  • SPM's Dividend Yield is a higher than the industry average which is at 2.78.
  • 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

  • On average, the dividend of SPM grows each year by 35.22%, which is quite nice.
Dividend Growth(5Y)35.22%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 71.00% of the earnings are spent on dividend by SPM. 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 (4/10/2026, 7:00:00 PM)

4.133

-0.05 (-1.31%)

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 Cap8.25B
Revenue(TTM)22.80B
Net Income(TTM)469.00M
Analysts80
Price Target3.87 (-6.36%)
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 27.55
Fwd PE 16.92
P/S 0.36
P/FCF 7.24
P/OCF 5.48
P/B 3.13
P/tB 4.21
EV/EBITDA 3.75
EPS(TTM)0.15
EY3.63%
EPS(NY)0.24
Fwd EY5.91%
FCF(TTM)0.57
FCFY13.82%
OCF(TTM)0.75
OCFY18.23%
SpS11.42
BVpS1.32
TBVpS0.98
PEG (NY)0.44
PEG (5Y)N/A
Graham Number2.11
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
WACC6.98%
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%.