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TOSCANA AEROPORTI SPA (TYA.MI) Stock Fundamental Analysis

BIT:TYA - Euronext Milan - IT0000214293 - Common Stock - Currency: EUR

15.9  -0.1 (-0.62%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to TYA. TYA was compared to 11 industry peers in the Transportation Infrastructure industry. While TYA is still in line with the averages on profitability rating, there are concerns on its financial health. TYA has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year TYA was profitable.
In the past year TYA had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: TYA reported negative net income in multiple years.
The reported operating cash flow has been mixed in the past 5 years: TYA reported negative operating cash flow in multiple years.
TYA.MI Yearly Net Income VS EBIT VS OCF VS FCFTYA.MI 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 0 20M -20M -40M

1.2 Ratios

TYA has a better Return On Assets (7.86%) than 90.91% of its industry peers.
The Return On Equity of TYA (21.29%) is better than 100.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 10.91%, TYA belongs to the top of the industry, outperforming 90.91% of the companies in the same industry.
Industry RankSector Rank
ROA 7.86%
ROE 21.29%
ROIC 10.91%
ROA(3y)1.34%
ROA(5y)1.11%
ROE(3y)3.84%
ROE(5y)2.34%
ROIC(3y)N/A
ROIC(5y)N/A
TYA.MI Yearly ROA, ROE, ROICTYA.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10 -10

1.3 Margins

The Profit Margin of TYA (12.62%) is better than 72.73% of its industry peers.
TYA's Profit Margin has declined in the last couple of years.
The Operating Margin of TYA (24.31%) is better than 81.82% of its industry peers.
TYA's Operating Margin has improved in the last couple of years.
TYA has a better Gross Margin (92.56%) than 90.91% of its industry peers.
In the last couple of years the Gross Margin of TYA has remained more or less at the same level.
Industry RankSector Rank
OM 24.31%
PM (TTM) 12.62%
GM 92.56%
OM growth 3YN/A
OM growth 5Y3.9%
PM growth 3YN/A
PM growth 5Y-2.45%
GM growth 3Y-0.31%
GM growth 5Y-0.21%
TYA.MI Yearly Profit, Operating, Gross MarginsTYA.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 60 80

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), TYA is creating some value.
The number of shares outstanding for TYA remains at a similar level compared to 1 year ago.
The number of shares outstanding for TYA remains at a similar level compared to 5 years ago.
The debt/assets ratio for TYA has been reduced compared to a year ago.
TYA.MI Yearly Shares OutstandingTYA.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M
TYA.MI Yearly Total Debt VS Total AssetsTYA.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

2.2 Solvency

An Altman-Z score of 2.34 indicates that TYA is not a great score, but indicates only limited risk for bankruptcy at the moment.
TYA's Altman-Z score of 2.34 is in line compared to the rest of the industry. TYA outperforms 54.55% of its industry peers.
The Debt to FCF ratio of TYA is 7.90, which is on the high side as it means it would take TYA, 7.90 years of fcf income to pay off all of its debts.
TYA has a Debt to FCF ratio of 7.90. This is comparable to the rest of the industry: TYA outperforms 54.55% of its industry peers.
TYA has a Debt/Equity ratio of 0.83. This is a neutral value indicating TYA is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.83, TYA perfoms like the industry average, outperforming 54.55% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 7.9
Altman-Z 2.34
ROIC/WACC1.59
WACC6.85%
TYA.MI Yearly LT Debt VS Equity VS FCFTYA.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M

2.3 Liquidity

TYA has a Current Ratio of 0.93. This is a bad value and indicates that TYA is not financially healthy enough and could expect problems in meeting its short term obligations.
TYA has a Current ratio of 0.93. This is in the lower half of the industry: TYA underperforms 72.73% of its industry peers.
TYA has a Quick Ratio of 0.93. This is a bad value and indicates that TYA is not financially healthy enough and could expect problems in meeting its short term obligations.
TYA has a worse Quick ratio (0.93) than 63.64% of its industry peers.
Industry RankSector Rank
Current Ratio 0.93
Quick Ratio 0.93
TYA.MI Yearly Current Assets VS Current LiabilitesTYA.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M

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6

3. Growth

3.1 Past

TYA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 35.56%, which is quite impressive.
Measured over the past years, TYA shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.85% on average per year.
The Revenue has grown by 26.48% in the past year. This is a very strong growth!
The Revenue has been decreasing by -0.41% on average over the past years.
EPS 1Y (TTM)35.56%
EPS 3YN/A
EPS 5Y-2.85%
EPS Q2Q%-22.71%
Revenue 1Y (TTM)26.48%
Revenue growth 3Y35.61%
Revenue growth 5Y-0.41%
Sales Q2Q%-3.23%

3.2 Future

TYA is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 65.83% yearly.
The Revenue is expected to grow by 11.80% on average over the next years. This is quite good.
EPS Next Y132.14%
EPS Next 2Y65.83%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year15.08%
Revenue Next 2Y11.8%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
TYA.MI Yearly Revenue VS EstimatesTYA.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
TYA.MI Yearly EPS VS EstimatesTYA.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 0 0.5 -0.5

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 12.72 indicates a correct valuation of TYA.
TYA's Price/Earnings ratio is a bit cheaper when compared to the industry. TYA is cheaper than 63.64% of the companies in the same industry.
When comparing the Price/Earnings ratio of TYA to the average of the S&P500 Index (28.33), we can say TYA is valued rather cheaply.
TYA is valuated rather expensively with a Price/Forward Earnings ratio of 20.44.
The rest of the industry has a similar Price/Forward Earnings ratio as TYA.
TYA's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 21.37.
Industry RankSector Rank
PE 12.72
Fwd PE 20.44
TYA.MI Price Earnings VS Forward Price EarningsTYA.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TYA is on the same level as its industry peers.
TYA's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 25.06
EV/EBITDA 6.77
TYA.MI Per share dataTYA.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5

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.
TYA has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as TYA's earnings are expected to grow with 65.83% in the coming years.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y65.83%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.36%, TYA has a reasonable but not impressive dividend return.
TYA's Dividend Yield is slightly below the industry average, which is at 5.58.
TYA's Dividend Yield is comparable with the S&P500 average which is at 2.51.
Industry RankSector Rank
Dividend Yield 2.36%

5.2 History

The dividend of TYA decreases each year by -4.87%.
Dividend Growth(5Y)-4.87%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

31.37% of the earnings are spent on dividend by TYA. This is a low number and sustainable payout ratio.
DP31.37%
EPS Next 2Y65.83%
EPS Next 3YN/A
TYA.MI Yearly Income VS Free CF VS DividendTYA.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M -20M -40M
TYA.MI Dividend Payout.TYA.MI Dividend Payout, showing the Payout Ratio.TYA.MI Dividend Payout.PayoutRetained Earnings

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TOSCANA AEROPORTI SPA

BIT:TYA (4/16/2025, 7:00:00 PM)

15.9

-0.1 (-0.62%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryTransportation Infrastructure
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners0.71%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap295.90M
Analysts45.71
Price Target12.65 (-20.44%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.36%
Yearly Dividend0.39
Dividend Growth(5Y)-4.87%
DP31.37%
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%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 12.72
Fwd PE 20.44
P/S 1.6
P/FCF 25.06
P/OCF 11.18
P/B 2.71
P/tB N/A
EV/EBITDA 6.77
EPS(TTM)1.25
EY7.86%
EPS(NY)0.78
Fwd EY4.89%
FCF(TTM)0.63
FCFY3.99%
OCF(TTM)1.42
OCFY8.95%
SpS9.91
BVpS5.87
TBVpS-4.76
PEG (NY)0.1
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 7.86%
ROE 21.29%
ROCE 19.54%
ROIC 10.91%
ROICexc 11.85%
ROICexgc 187.22%
OM 24.31%
PM (TTM) 12.62%
GM 92.56%
FCFM 6.4%
ROA(3y)1.34%
ROA(5y)1.11%
ROE(3y)3.84%
ROE(5y)2.34%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5Y0.63%
OM growth 3YN/A
OM growth 5Y3.9%
PM growth 3YN/A
PM growth 5Y-2.45%
GM growth 3Y-0.31%
GM growth 5Y-0.21%
F-Score7
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 7.9
Debt/EBITDA 1.66
Cap/Depr 147.1%
Cap/Sales 7.95%
Interest Coverage 8.8
Cash Conversion 48.32%
Profit Quality 50.75%
Current Ratio 0.93
Quick Ratio 0.93
Altman-Z 2.34
F-Score7
WACC6.85%
ROIC/WACC1.59
Cap/Depr(3y)123.92%
Cap/Depr(5y)125.83%
Cap/Sales(3y)14.48%
Cap/Sales(5y)16.02%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)35.56%
EPS 3YN/A
EPS 5Y-2.85%
EPS Q2Q%-22.71%
EPS Next Y132.14%
EPS Next 2Y65.83%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)26.48%
Revenue growth 3Y35.61%
Revenue growth 5Y-0.41%
Sales Q2Q%-3.23%
Revenue Next Year15.08%
Revenue Next 2Y11.8%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y45.76%
EBIT growth 3YN/A
EBIT growth 5Y3.47%
EBIT Next Year203.87%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-20.99%
FCF growth 3YN/A
FCF growth 5Y-2.68%
OCF growth 1Y10.52%
OCF growth 3YN/A
OCF growth 5Y-4.08%