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ALMAWAVE SPA (AIW.MI) Stock Fundamental Analysis

BIT:AIW - Euronext Milan - IT0005434615 - Common Stock - Currency: EUR

3.1  +0.14 (+4.73%)

Fundamental Rating

4

Taking everything into account, AIW scores 4 out of 10 in our fundamental rating. AIW was compared to 103 industry peers in the Software industry. AIW has only an average score on both its financial health and profitability. AIW is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

AIW had positive earnings in the past year.
In the past year AIW had a positive cash flow from operations.
Each year in the past 5 years AIW has been profitable.
In the past 5 years AIW always reported a positive cash flow from operatings.
AIW.MI Yearly Net Income VS EBIT VS OCF VS FCFAIW.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 0 5M 10M

1.2 Ratios

Looking at the Return On Assets, with a value of 6.77%, AIW is in the better half of the industry, outperforming 68.93% of the companies in the same industry.
The Return On Equity of AIW (11.16%) is better than 66.99% of its industry peers.
AIW has a Return On Invested Capital (2.73%) which is in line with its industry peers.
AIW had an Average Return On Invested Capital over the past 3 years of 6.25%. This is below the industry average of 10.99%.
Industry RankSector Rank
ROA 6.77%
ROE 11.16%
ROIC 2.73%
ROA(3y)6.47%
ROA(5y)5.41%
ROE(3y)10.83%
ROE(5y)11.21%
ROIC(3y)6.25%
ROIC(5y)7.38%
AIW.MI Yearly ROA, ROE, ROICAIW.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

1.3 Margins

AIW has a better Profit Margin (17.52%) than 77.67% of its industry peers.
In the last couple of years the Profit Margin of AIW has grown nicely.
AIW's Operating Margin of 6.14% is in line compared to the rest of the industry. AIW outperforms 52.43% of its industry peers.
AIW's Operating Margin has declined in the last couple of years.
AIW has a Gross Margin of 51.81%. This is in the lower half of the industry: AIW underperforms 65.05% of its industry peers.
In the last couple of years the Gross Margin of AIW has declined.
Industry RankSector Rank
OM 6.14%
PM (TTM) 17.52%
GM 51.81%
OM growth 3Y-24.27%
OM growth 5Y-20.53%
PM growth 3Y18.54%
PM growth 5Y12.74%
GM growth 3Y-2.82%
GM growth 5Y-2.82%
AIW.MI Yearly Profit, Operating, Gross MarginsAIW.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AIW is destroying value.
Compared to 1 year ago, AIW has more shares outstanding
Compared to 5 years ago, AIW has more shares outstanding
Compared to 1 year ago, AIW has an improved debt to assets ratio.
AIW.MI Yearly Shares OutstandingAIW.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M
AIW.MI Yearly Total Debt VS Total AssetsAIW.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

2.2 Solvency

An Altman-Z score of 2.60 indicates that AIW 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 2.60, AIW is in line with its industry, outperforming 52.43% of the companies in the same industry.
A Debt/Equity ratio of 0.02 indicates that AIW is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.02, AIW belongs to the top of the industry, outperforming 86.41% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF N/A
Altman-Z 2.6
ROIC/WACC0.29
WACC9.4%
AIW.MI Yearly LT Debt VS Equity VS FCFAIW.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M

2.3 Liquidity

AIW has a Current Ratio of 1.51. This is a normal value and indicates that AIW is financially healthy and should not expect problems in meeting its short term obligations.
With a decent Current ratio value of 1.51, AIW is doing good in the industry, outperforming 63.11% of the companies in the same industry.
AIW has a Quick Ratio of 1.51. This is a normal value and indicates that AIW is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.51, AIW is in the better half of the industry, outperforming 66.99% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.51
Quick Ratio 1.51
AIW.MI Yearly Current Assets VS Current LiabilitesAIW.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

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3

3. Growth

3.1 Past

The earnings per share for AIW have decreased by -6.99% in the last year.
The Earnings Per Share has been growing by 29.38% on average over the past years. This is a very strong growth
AIW shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -14.69%.
Measured over the past years, AIW shows a quite strong growth in Revenue. The Revenue has been growing by 18.14% on average per year.
EPS 1Y (TTM)-6.99%
EPS 3Y30.66%
EPS 5Y29.38%
EPS Q2Q%6.9%
Revenue 1Y (TTM)-14.69%
Revenue growth 3Y14.25%
Revenue growth 5Y18.14%
Sales Q2Q%-14.42%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y82.35%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year48%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
AIW.MI Yearly Revenue VS EstimatesAIW.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
AIW.MI Yearly EPS VS EstimatesAIW.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 0.1 0.2 0.3

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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 10.69, the valuation of AIW can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of AIW indicates a rather cheap valuation: AIW is cheaper than 97.09% of the companies listed in the same industry.
AIW's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.25.
The Price/Forward Earnings ratio is 9.90, which indicates a very decent valuation of AIW.
AIW's Price/Forward Earnings ratio is rather cheap when compared to the industry. AIW is cheaper than 91.26% of the companies in the same industry.
AIW's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.15.
Industry RankSector Rank
PE 10.69
Fwd PE 9.9
AIW.MI Price Earnings VS Forward Price EarningsAIW.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

80.58% of the companies in the same industry are more expensive than AIW, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 9.09
AIW.MI Per share dataAIW.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5 2 2.5

4.3 Compensation for Growth

AIW's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.13
PEG (5Y)0.36
EPS Next 2YN/A
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

AIW does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ALMAWAVE SPA

BIT:AIW (5/23/2025, 7:00:00 PM)

3.1

+0.14 (+4.73%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners10.83%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap92.94M
Analysts84
Price Target4.08 (31.61%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
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 10.69
Fwd PE 9.9
P/S 1.9
P/FCF N/A
P/OCF 9.6
P/B 1.21
P/tB 5.32
EV/EBITDA 9.09
EPS(TTM)0.29
EY9.35%
EPS(NY)0.31
Fwd EY10.1%
FCF(TTM)-0.11
FCFYN/A
OCF(TTM)0.32
OCFY10.41%
SpS1.64
BVpS2.57
TBVpS0.58
PEG (NY)0.13
PEG (5Y)0.36
Profitability
Industry RankSector Rank
ROA 6.77%
ROE 11.16%
ROCE 3.63%
ROIC 2.73%
ROICexc 2.94%
ROICexgc 12.96%
OM 6.14%
PM (TTM) 17.52%
GM 51.81%
FCFM N/A
ROA(3y)6.47%
ROA(5y)5.41%
ROE(3y)10.83%
ROE(5y)11.21%
ROIC(3y)6.25%
ROIC(5y)7.38%
ROICexc(3y)7.3%
ROICexc(5y)9.1%
ROICexgc(3y)35.3%
ROICexgc(5y)40.51%
ROCE(3y)8.33%
ROCE(5y)9.84%
ROICexcg growth 3Y-32.08%
ROICexcg growth 5Y-18.89%
ROICexc growth 3Y-37.71%
ROICexc growth 5Y-24.79%
OM growth 3Y-24.27%
OM growth 5Y-20.53%
PM growth 3Y18.54%
PM growth 5Y12.74%
GM growth 3Y-2.82%
GM growth 5Y-2.82%
F-Score4
Asset Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF N/A
Debt/EBITDA 0.19
Cap/Depr 192.25%
Cap/Sales 26.41%
Interest Coverage 17.11
Cash Conversion 99.27%
Profit Quality N/A
Current Ratio 1.51
Quick Ratio 1.51
Altman-Z 2.6
F-Score4
WACC9.4%
ROIC/WACC0.29
Cap/Depr(3y)180.78%
Cap/Depr(5y)174.55%
Cap/Sales(3y)18.18%
Cap/Sales(5y)17.26%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-6.99%
EPS 3Y30.66%
EPS 5Y29.38%
EPS Q2Q%6.9%
EPS Next Y82.35%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-14.69%
Revenue growth 3Y14.25%
Revenue growth 5Y18.14%
Sales Q2Q%-14.42%
Revenue Next Year48%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-65.76%
EBIT growth 3Y-13.48%
EBIT growth 5Y-6.12%
EBIT Next Year116.67%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-228.54%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-11.02%
OCF growth 3Y24.13%
OCF growth 5Y19.87%