SAIPEM SPA (SPM.MI) Fundamental Analysis & Valuation

BIT:SPM • IT0005495657

Current stock price

4.337 EUR
+0.11 (+2.72%)
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.
  • In multiple years SPM reported negative net income over the last 5 years.
  • SPM had a positive operating cash flow in 4 of the past 5 years.
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

  • The Return On Assets of SPM (3.25%) is comparable to the rest of the industry.
  • Looking at the Return On Equity, with a value of 17.79%, SPM is in the better half of the industry, outperforming 72.22% of the companies in the same industry.
  • With a decent Return On Invested Capital value of 10.40%, SPM is doing good in the industry, outperforming 63.89% of the companies in the same industry.
  • SPM had an Average Return On Invested Capital over the past 3 years of 6.11%. This is below the industry average of 9.97%.
  • 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.
  • 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.
  • SPM's Gross Margin of 30.66% is in line compared to the rest of the industry. SPM outperforms 58.33% of its industry peers.
  • 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

  • SPM has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • Compared to 1 year ago, SPM has less shares outstanding
  • SPM has more shares outstanding than it did 5 years ago.
  • SPM has a worse debt/assets ratio than last year.
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 2.38 indicates that SPM is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.38, SPM is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • The Debt to FCF ratio of SPM is 2.72, which is a good value as it means it would take SPM, 2.72 years of fcf income to pay off all of its debts.
  • SPM has a Debt to FCF ratio (2.72) which is in line with its industry peers.
  • A Debt/Equity ratio of 0.81 indicates that SPM is somewhat dependend on debt financing.
  • SPM has a worse Debt to Equity ratio (0.81) than 72.22% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF 2.72
Altman-Z 2.38
ROIC/WACC1.48
WACC7.02%
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 66.67% 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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4

3. SPM.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 7.14% over the past year.
  • SPM shows a small growth in Revenue. In the last year, the Revenue has grown by 6.56%.
  • The Revenue has been growing by 15.95% on average over the past years. This is quite good.
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 15.49% yearly.
  • The Revenue is expected to grow by 0.39% on average over the next years.
EPS Next Y62.87%
EPS Next 2Y39.82%
EPS Next 3Y25.7%
EPS Next 5Y15.49%
Revenue Next Year3.36%
Revenue Next 2Y1.58%
Revenue Next 3Y0.6%
Revenue Next 5Y0.39%

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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4

4. SPM.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 28.91, the valuation of SPM can be described as expensive.
  • Based on the Price/Earnings ratio, SPM is valued a bit more expensive than 61.11% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.42. SPM is around the same levels.
  • A Price/Forward Earnings ratio of 17.75 indicates a rather expensive valuation of SPM.
  • SPM's Price/Forward 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's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.29.
Industry RankSector Rank
PE 28.91
Fwd PE 17.75
SPM.MI Price Earnings VS Forward Price EarningsSPM.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SPM is valued cheaply inside the industry as 91.67% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, SPM is valued a bit cheaper than 75.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.59
EV/EBITDA 3.95
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

  • SPM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as SPM's earnings are expected to grow with 25.70% in the coming years.
PEG (NY)0.46
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 4.03%, which is a nice return.
  • SPM's Dividend Yield is a higher than the industry average which is at 2.77.
  • SPM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 4.03%

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.
  • The dividend of SPM is growing, but the earnings are growing slower. 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 (4/24/2026, 7:00:00 PM)

4.337

+0.11 (+2.72%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)04-21
Earnings (Next)07-27
Inst Owners34.98%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap8.66B
Revenue(TTM)22.80B
Net Income(TTM)469.00M
Analysts80
Price Target3.87 (-10.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.03%
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)21.36%
EPS NQ rev (1m)-0.66%
EPS NQ rev (3m)6.84%
EPS NY rev (1m)0.91%
EPS NY rev (3m)-2.68%
Revenue NQ rev (1m)-0.51%
Revenue NQ rev (3m)0.84%
Revenue NY rev (1m)-0.41%
Revenue NY rev (3m)0.27%
Valuation
Industry RankSector Rank
PE 28.91
Fwd PE 17.75
P/S 0.38
P/FCF 7.59
P/OCF 5.75
P/B 3.28
P/tB 4.42
EV/EBITDA 3.95
EPS(TTM)0.15
EY3.46%
EPS(NY)0.24
Fwd EY5.63%
FCF(TTM)0.57
FCFY13.17%
OCF(TTM)0.75
OCFY17.38%
SpS11.42
BVpS1.32
TBVpS0.98
PEG (NY)0.46
PEG (5Y)N/A
Graham Number2.1118 (-51.31%)
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 2.38
F-Score8
WACC7.02%
ROIC/WACC1.48
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 5Y15.49%
Revenue 1Y (TTM)6.56%
Revenue growth 3Y15.79%
Revenue growth 5Y15.95%
Sales Q2Q%2.38%
Revenue Next Year3.36%
Revenue Next 2Y1.58%
Revenue Next 3Y0.6%
Revenue Next 5Y0.39%
EBIT growth 1Y11.21%
EBIT growth 3Y96.79%
EBIT growth 5YN/A
EBIT Next Year183.53%
EBIT Next 3Y44.95%
EBIT Next 5Y24.38%
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 4 / 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%.