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ITALIAN SEA GROUP SPA/THE (TISG.MI) Stock Fundamental Analysis

BIT:TISG - Euronext Milan - IT0005439085 - Common Stock - Currency: EUR

8  0 (0%)

Fundamental Rating

6

Taking everything into account, TISG scores 6 out of 10 in our fundamental rating. TISG was compared to 15 industry peers in the Leisure Products industry. TISG scores excellent on profitability, but there are concerns on its financial health. TISG is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year TISG was profitable.
TISG had a negative operating cash flow in the past year.
Each year in the past 5 years TISG has been profitable.
In the past 5 years TISG always reported a positive cash flow from operatings.
TISG.MI Yearly Net Income VS EBIT VS OCF VS FCFTISG.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

1.2 Ratios

The Return On Assets of TISG (9.75%) is better than 86.67% of its industry peers.
TISG has a Return On Equity of 26.10%. This is amongst the best in the industry. TISG outperforms 86.67% of its industry peers.
The Return On Invested Capital of TISG (18.46%) is better than 86.67% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for TISG is above the industry average of 12.80%.
The 3 year average ROIC (15.43%) for TISG is below the current ROIC(18.46%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 9.75%
ROE 26.1%
ROIC 18.46%
ROA(3y)7.92%
ROA(5y)5.86%
ROE(3y)22.59%
ROE(5y)16.9%
ROIC(3y)15.43%
ROIC(5y)13.92%
TISG.MI Yearly ROA, ROE, ROICTISG.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

1.3 Margins

Looking at the Profit Margin, with a value of 10.20%, TISG belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
TISG's Profit Margin has improved in the last couple of years.
TISG has a Operating Margin of 13.55%. This is amongst the best in the industry. TISG outperforms 86.67% of its industry peers.
TISG's Operating Margin has improved in the last couple of years.
TISG has a Gross Margin of 36.65%. This is in the lower half of the industry: TISG underperforms 73.33% of its industry peers.
In the last couple of years the Gross Margin of TISG has declined.
Industry RankSector Rank
OM 13.55%
PM (TTM) 10.2%
GM 36.65%
OM growth 3Y13.07%
OM growth 5Y9.7%
PM growth 3Y22.72%
PM growth 5Y70.73%
GM growth 3Y-0.65%
GM growth 5Y-3.49%
TISG.MI Yearly Profit, Operating, Gross MarginsTISG.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 10 20 30 40

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), TISG is creating value.
The number of shares outstanding for TISG remains at a similar level compared to 1 year ago.
TISG has about the same amout of shares outstanding than it did 5 years ago.
Compared to 1 year ago, TISG has an improved debt to assets ratio.
TISG.MI Yearly Shares OutstandingTISG.MI Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
TISG.MI Yearly Total Debt VS Total AssetsTISG.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

2.2 Solvency

An Altman-Z score of 2.86 indicates that TISG is not a great score, but indicates only limited risk for bankruptcy at the moment.
TISG has a Altman-Z score of 2.86. This is comparable to the rest of the industry: TISG outperforms 53.33% of its industry peers.
A Debt/Equity ratio of 0.52 indicates that TISG is somewhat dependend on debt financing.
TISG has a worse Debt to Equity ratio (0.52) than 73.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.52
Debt/FCF N/A
Altman-Z 2.86
ROIC/WACC2.34
WACC7.9%
TISG.MI Yearly LT Debt VS Equity VS FCFTISG.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M

2.3 Liquidity

A Current Ratio of 1.27 indicates that TISG should not have too much problems paying its short term obligations.
The Current ratio of TISG (1.27) is comparable to the rest of the industry.
TISG has a Quick Ratio of 1.27. This is a bad value and indicates that TISG is not financially healthy enough and could expect problems in meeting its short term obligations.
TISG has a worse Quick ratio (0.50) than 86.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.27
Quick Ratio 0.5
TISG.MI Yearly Current Assets VS Current LiabilitesTISG.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M

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7

3. Growth

3.1 Past

TISG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 51.28%, which is quite impressive.
The Earnings Per Share has been growing by 138.02% on average over the past years. This is a very strong growth
The Revenue has grown by 23.35% in the past year. This is a very strong growth!
TISG shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 39.42% yearly.
EPS 1Y (TTM)51.28%
EPS 3Y80.53%
EPS 5Y138.02%
EPS Q2Q%N/A
Revenue 1Y (TTM)23.35%
Revenue growth 3Y47.11%
Revenue growth 5Y39.42%
Sales Q2Q%N/A

3.2 Future

Based on estimates for the next years, TISG will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.95% on average per year.
The Revenue is expected to grow by 7.09% on average over the next years.
EPS Next Y41.07%
EPS Next 2Y22.32%
EPS Next 3Y16.91%
EPS Next 5Y15.95%
Revenue Next Year14.65%
Revenue Next 2Y9.82%
Revenue Next 3Y7.66%
Revenue Next 5Y7.09%

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.
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.
TISG.MI Yearly Revenue VS EstimatesTISG.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
TISG.MI Yearly EPS VS EstimatesTISG.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6 0.8 1

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 11.59, which indicates a very decent valuation of TISG.
TISG's Price/Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Earnings ratio of 29.62, TISG is valued rather cheaply.
A Price/Forward Earnings ratio of 8.34 indicates a reasonable valuation of TISG.
Based on the Price/Forward Earnings ratio, TISG is valued a bit cheaper than 80.00% of the companies in the same industry.
TISG is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.70, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.59
Fwd PE 8.34
TISG.MI Price Earnings VS Forward Price EarningsTISG.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

TISG's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.45
TISG.MI Per share dataTISG.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

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.
The excellent profitability rating of TISG may justify a higher PE ratio.
TISG's earnings are expected to grow with 16.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.28
PEG (5Y)0.08
EPS Next 2Y22.32%
EPS Next 3Y16.91%

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6

5. Dividend

5.1 Amount

TISG has a Yearly Dividend Yield of 4.67%, which is a nice return.
Compared to an average industry Dividend Yield of 3.58, TISG pays a better dividend. On top of this TISG pays more dividend than 86.67% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.27, TISG pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.67%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

53.60% of the earnings are spent on dividend by TISG. This is a bit on the high side, but may be sustainable.
DP53.6%
EPS Next 2Y22.32%
EPS Next 3Y16.91%
TISG.MI Yearly Income VS Free CF VS DividendTISG.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
TISG.MI Dividend Payout.TISG.MI Dividend Payout, showing the Payout Ratio.TISG.MI Dividend Payout.PayoutRetained Earnings

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ITALIAN SEA GROUP SPA/THE

BIT:TISG (2/24/2025, 11:58:44 AM)

8

0 (0%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryLeisure Products
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners13.54%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap424.00M
Analysts86
Price Target12.5 (56.25%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.67%
Yearly Dividend0.27
Dividend Growth(5Y)N/A
DP53.6%
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%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.85%
EPS NY rev (3m)0.85%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.24%
Valuation
Industry RankSector Rank
PE 11.59
Fwd PE 8.34
P/S 1.18
P/FCF N/A
P/OCF N/A
P/B 3.02
P/tB 4.03
EV/EBITDA 7.45
EPS(TTM)0.69
EY8.63%
EPS(NY)0.96
Fwd EY11.99%
FCF(TTM)-0.16
FCFYN/A
OCF(TTM)-0.07
OCFYN/A
SpS6.78
BVpS2.65
TBVpS1.98
PEG (NY)0.28
PEG (5Y)0.08
Profitability
Industry RankSector Rank
ROA 9.75%
ROE 26.1%
ROCE 23.44%
ROIC 18.46%
ROICexc 22.62%
ROICexgc 28.2%
OM 13.55%
PM (TTM) 10.2%
GM 36.65%
FCFM N/A
ROA(3y)7.92%
ROA(5y)5.86%
ROE(3y)22.59%
ROE(5y)16.9%
ROIC(3y)15.43%
ROIC(5y)13.92%
ROICexc(3y)29.57%
ROICexc(5y)23.57%
ROICexgc(3y)37.33%
ROICexgc(5y)28.77%
ROCE(3y)19.72%
ROCE(5y)17.9%
ROICexcg growth 3Y28.73%
ROICexcg growth 5Y36.77%
ROICexc growth 3Y19.71%
ROICexc growth 5Y29.66%
OM growth 3Y13.07%
OM growth 5Y9.7%
PM growth 3Y22.72%
PM growth 5Y70.73%
GM growth 3Y-0.65%
GM growth 5Y-3.49%
F-Score6
Asset Turnover0.96
Health
Industry RankSector Rank
Debt/Equity 0.52
Debt/FCF N/A
Debt/EBITDA 1.21
Cap/Depr 39.36%
Cap/Sales 1.22%
Interest Coverage 7.27
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.27
Quick Ratio 0.5
Altman-Z 2.86
F-Score6
WACC7.9%
ROIC/WACC2.34
Cap/Depr(3y)260.09%
Cap/Depr(5y)245.39%
Cap/Sales(3y)6.67%
Cap/Sales(5y)7.05%
Profit Quality(3y)111%
Profit Quality(5y)327.51%
High Growth Momentum
Growth
EPS 1Y (TTM)51.28%
EPS 3Y80.53%
EPS 5Y138.02%
EPS Q2Q%N/A
EPS Next Y41.07%
EPS Next 2Y22.32%
EPS Next 3Y16.91%
EPS Next 5Y15.95%
Revenue 1Y (TTM)23.35%
Revenue growth 3Y47.11%
Revenue growth 5Y39.42%
Sales Q2Q%N/A
Revenue Next Year14.65%
Revenue Next 2Y9.82%
Revenue Next 3Y7.66%
Revenue Next 5Y7.09%
EBIT growth 1Y48.47%
EBIT growth 3Y66.34%
EBIT growth 5Y52.94%
EBIT Next Year49.33%
EBIT Next 3Y20.54%
EBIT Next 5Y16.27%
FCF growth 1Y-138.53%
FCF growth 3Y16.96%
FCF growth 5Y41.92%
OCF growth 1Y-109.72%
OCF growth 3Y-1.64%
OCF growth 5Y35.16%