ASCOPIAVE SPA (ASC.MI) Stock Fundamental Analysis
BIT:ASC - Euronext Milan - IT0004093263 - Common Stock - Currency: EUR
We assign a fundamental rating of 5 out of 10 to ASC. ASC was compared to 4 industry peers in the Gas Utilities industry. ASC has an average financial health and profitability rating. ASC is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
ASC had positive earnings in the past year.
ASC had a positive operating cash flow in the past year.
Each year in the past 5 years ASC has been profitable.
Each year in the past 5 years ASC had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.47%, ASC is doing worse than 75.00% of the companies in the same industry.
Looking at the Return On Equity, with a value of 4.22%, ASC is doing worse than 75.00% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 3.51%, ASC is doing worse than 75.00% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for ASC is below the industry average of 7.29%.
The last Return On Invested Capital (3.51%) for ASC is above the 3 year average (2.44%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.47% | ||
| ROE | 4.22% | ||
| ROIC | 3.51% |
ROA(3y)2.31%
ROA(5y)2.91%
ROE(3y)4.09%
ROE(5y)4.87%
ROIC(3y)2.44%
ROIC(5y)2.43%
1.3 Margins
ASC has a Profit Margin (17.48%) which is in line with its industry peers.
ASC's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 26.17%, ASC is in line with its industry, outperforming 50.00% of the companies in the same industry.
In the last couple of years the Operating Margin of ASC has grown nicely.
ASC's Gross Margin of 92.11% is amongst the best of the industry. ASC outperforms 100.00% of its industry peers.
ASC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 26.17% | ||
| PM (TTM) | 17.48% | ||
| GM | 92.11% |
OM growth 3Y-1.51%
OM growth 5Y6.84%
PM growth 3Y-19.1%
PM growth 5Y-46.2%
GM growth 3Y-2.25%
GM growth 5Y-1.44%
2. Health
2.1 Basic Checks
ASC has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
ASC has about the same amout of shares outstanding than it did 1 year ago.
ASC has less shares outstanding than it did 5 years ago.
ASC has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.73, we must say that ASC is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of ASC (1.73) is better than 75.00% of its industry peers.
ASC has a debt to FCF ratio of 21.16. This is a negative value and a sign of low solvency as ASC would need 21.16 years to pay back of all of its debts.
The Debt to FCF ratio of ASC (21.16) is better than 75.00% of its industry peers.
ASC has a Debt/Equity ratio of 0.37. This is a healthy value indicating a solid balance between debt and equity.
ASC has a better Debt to Equity ratio (0.37) than 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.37 | ||
| Debt/FCF | 21.16 | ||
| Altman-Z | 1.73 |
ROIC/WACC0.51
WACC6.83%
2.3 Liquidity
A Current Ratio of 1.64 indicates that ASC should not have too much problems paying its short term obligations.
ASC has a better Current ratio (1.64) than 100.00% of its industry peers.
A Quick Ratio of 1.60 indicates that ASC should not have too much problems paying its short term obligations.
ASC has a Quick ratio of 1.60. This is amongst the best in the industry. ASC outperforms 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.64 | ||
| Quick Ratio | 1.6 |
3. Growth
3.1 Past
ASC shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -0.42%.
Measured over the past years, ASC shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -40.36% on average per year.
Looking at the last year, ASC shows a quite strong growth in Revenue. The Revenue has grown by 13.37% in the last year.
The Revenue has been growing by 10.02% on average over the past years. This is quite good.
EPS 1Y (TTM)-0.42%
EPS 3Y-7.42%
EPS 5Y-40.36%
EPS Q2Q%-56%
Revenue 1Y (TTM)13.37%
Revenue growth 3Y14.28%
Revenue growth 5Y10.02%
Sales Q2Q%5.44%
3.2 Future
Based on estimates for the next years, ASC will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.91% on average per year.
Based on estimates for the next years, ASC will show a small growth in Revenue. The Revenue will grow by 7.07% on average per year.
EPS Next Y68.97%
EPS Next 2Y6.67%
EPS Next 3Y14.91%
EPS Next 5YN/A
Revenue Next Year22.7%
Revenue Next 2Y15.78%
Revenue Next 3Y12.9%
Revenue Next 5Y7.07%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 18.03, ASC is valued on the expensive side.
ASC's Price/Earnings ratio is a bit more expensive when compared to the industry. ASC is more expensive than 75.00% of the companies in the same industry.
When comparing the Price/Earnings ratio of ASC to the average of the S&P500 Index (28.10), we can say ASC is valued slightly cheaper.
With a Price/Forward Earnings ratio of 12.39, ASC is valued correctly.
The rest of the industry has a similar Price/Forward Earnings ratio as ASC.
ASC is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 20.74, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.03 | ||
| Fwd PE | 12.39 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, ASC is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
ASC's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 35.72 | ||
| EV/EBITDA | 10.48 |
4.3 Compensation for Growth
ASC's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
ASC's earnings are expected to grow with 14.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.26
PEG (5Y)N/A
EPS Next 2Y6.67%
EPS Next 3Y14.91%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.55%, ASC is a good candidate for dividend investing.
ASC's Dividend Yield is slightly below the industry average, which is at 5.75.
Compared to an average S&P500 Dividend Yield of 2.43, ASC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.55% |
5.2 History
The dividend of ASC decreases each year by -16.09%.
Dividend Growth(5Y)-16.09%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
ASC pays out 84.69% of its income as dividend. This is not a sustainable payout ratio.
DP84.69%
EPS Next 2Y6.67%
EPS Next 3Y14.91%
BIT:ASC (5/6/2025, 1:25:14 PM)
3.065
+0.02 (+0.49%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)
Earnings (Next)
Inst Owners3.93%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap718.47M
Analysts77.14
Price Target3.47 (13.21%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.55% |
Yearly Dividend0.14
Dividend Growth(5Y)-16.09%
DP84.69%
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)5.16%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)75%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)7.97%
Revenue NY rev (3m)19.77%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.03 | ||
| Fwd PE | 12.39 | ||
| P/S | 3.51 | ||
| P/FCF | 35.72 | ||
| P/OCF | 7.1 | ||
| P/B | 0.85 | ||
| P/tB | 11.87 | ||
| EV/EBITDA | 10.48 |
EPS(TTM)0.17
EY5.55%
EPS(NY)0.25
Fwd EY8.07%
FCF(TTM)0.09
FCFY2.8%
OCF(TTM)0.43
OCFY14.08%
SpS0.87
BVpS3.62
TBVpS0.26
PEG (NY)0.26
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.47% | ||
| ROE | 4.22% | ||
| ROCE | 4.33% | ||
| ROIC | 3.51% | ||
| ROICexc | 3.61% | ||
| ROICexgc | 10.46% | ||
| OM | 26.17% | ||
| PM (TTM) | 17.48% | ||
| GM | 92.11% | ||
| FCFM | 9.81% |
ROA(3y)2.31%
ROA(5y)2.91%
ROE(3y)4.09%
ROE(5y)4.87%
ROIC(3y)2.44%
ROIC(5y)2.43%
ROICexc(3y)2.57%
ROICexc(5y)2.57%
ROICexgc(3y)7.7%
ROICexgc(5y)7.29%
ROCE(3y)3.01%
ROCE(5y)2.99%
ROICexcg growth 3Y8.89%
ROICexcg growth 5Y15.04%
ROICexc growth 3Y6.65%
ROICexc growth 5Y13.01%
OM growth 3Y-1.51%
OM growth 5Y6.84%
PM growth 3Y-19.1%
PM growth 5Y-46.2%
GM growth 3Y-2.25%
GM growth 5Y-1.44%
F-Score6
Asset Turnover0.14
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.37 | ||
| Debt/FCF | 21.16 | ||
| Debt/EBITDA | 2.99 | ||
| Cap/Depr | 156.56% | ||
| Cap/Sales | 39.55% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 95.99% | ||
| Profit Quality | 56.15% | ||
| Current Ratio | 1.64 | ||
| Quick Ratio | 1.6 | ||
| Altman-Z | 1.73 |
F-Score6
WACC6.83%
ROIC/WACC0.51
Cap/Depr(3y)175.72%
Cap/Depr(5y)164.03%
Cap/Sales(3y)48.72%
Cap/Sales(5y)42.49%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-0.42%
EPS 3Y-7.42%
EPS 5Y-40.36%
EPS Q2Q%-56%
EPS Next Y68.97%
EPS Next 2Y6.67%
EPS Next 3Y14.91%
EPS Next 5YN/A
Revenue 1Y (TTM)13.37%
Revenue growth 3Y14.28%
Revenue growth 5Y10.02%
Sales Q2Q%5.44%
Revenue Next Year22.7%
Revenue Next 2Y15.78%
Revenue Next 3Y12.9%
Revenue Next 5Y7.07%
EBIT growth 1Y4.44%
EBIT growth 3Y12.55%
EBIT growth 5Y17.55%
EBIT Next Year207.38%
EBIT Next 3Y50%
EBIT Next 5Y34.8%
FCF growth 1Y124.7%
FCF growth 3Y-12.35%
FCF growth 5YN/A
OCF growth 1Y1551.17%
OCF growth 3Y6.94%
OCF growth 5Y31.62%