B&C SPEAKERS SPA (BEC.MI) Stock Fundamental Analysis
BIT:BEC - Euronext Milan - IT0001268561 - Common Stock - Currency: EUR
We assign a fundamental rating of 8 out of 10 to BEC. BEC was compared to 33 industry peers in the Household Durables industry. Both the health and profitability get an excellent rating, making BEC a very profitable company, without any liquidiy or solvency issues. BEC may be a bit undervalued, certainly considering the very reasonable score on growth BEC also has an excellent dividend rating. These ratings could make BEC a good candidate for value and dividend and quality investing.
1. Profitability
1.1 Basic Checks
In the past year BEC was profitable.
In the past year BEC had a positive cash flow from operations.
In the past 5 years BEC has always been profitable.
Each year in the past 5 years BEC had a positive operating cash flow.
1.2 Ratios
The Return On Assets of BEC (28.77%) is better than 100.00% of its industry peers.
Looking at the Return On Equity, with a value of 45.49%, BEC belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
BEC has a Return On Invested Capital of 35.43%. This is amongst the best in the industry. BEC outperforms 96.97% of its industry peers.
BEC had an Average Return On Invested Capital over the past 3 years of 26.56%. This is significantly above the industry average of 16.96%.
The last Return On Invested Capital (35.43%) for BEC is above the 3 year average (26.56%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 28.77% | ||
| ROE | 45.49% | ||
| ROIC | 35.43% |
ROA(3y)17.3%
ROA(5y)12.66%
ROE(3y)31.96%
ROE(5y)24.15%
ROIC(3y)26.56%
ROIC(5y)19.74%
1.3 Margins
BEC's Profit Margin of 16.78% is amongst the best of the industry. BEC outperforms 93.94% of its industry peers.
In the last couple of years the Profit Margin of BEC has grown nicely.
Looking at the Operating Margin, with a value of 19.38%, BEC belongs to the top of the industry, outperforming 93.94% of the companies in the same industry.
BEC's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 37.40%, BEC is in line with its industry, outperforming 42.42% of the companies in the same industry.
BEC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.38% | ||
| PM (TTM) | 16.78% | ||
| GM | 37.4% |
OM growth 3Y9.42%
OM growth 5Y0.76%
PM growth 3Y17.26%
PM growth 5Y2.99%
GM growth 3Y1.29%
GM growth 5Y-0.86%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), BEC is creating value.
The number of shares outstanding for BEC has been reduced compared to 1 year ago.
The number of shares outstanding for BEC has been reduced compared to 5 years ago.
Compared to 1 year ago, BEC has an improved debt to assets ratio.
2.2 Solvency
BEC has an Altman-Z score of 7.66. This indicates that BEC is financially healthy and has little risk of bankruptcy at the moment.
BEC has a Altman-Z score of 7.66. This is amongst the best in the industry. BEC outperforms 96.97% of its industry peers.
BEC has a debt to FCF ratio of 1.63. This is a very positive value and a sign of high solvency as it would only need 1.63 years to pay back of all of its debts.
BEC's Debt to FCF ratio of 1.63 is amongst the best of the industry. BEC outperforms 81.82% of its industry peers.
A Debt/Equity ratio of 0.22 indicates that BEC is not too dependend on debt financing.
BEC has a Debt to Equity ratio of 0.22. This is in the better half of the industry: BEC outperforms 75.76% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.22 | ||
| Debt/FCF | 1.63 | ||
| Altman-Z | 7.66 |
ROIC/WACC4.4
WACC8.06%
2.3 Liquidity
BEC has a Current Ratio of 3.25. This indicates that BEC is financially healthy and has no problem in meeting its short term obligations.
BEC's Current ratio of 3.25 is amongst the best of the industry. BEC outperforms 81.82% of its industry peers.
A Quick Ratio of 1.88 indicates that BEC should not have too much problems paying its short term obligations.
BEC's Quick ratio of 1.88 is amongst the best of the industry. BEC outperforms 93.94% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.25 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
BEC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 22.49%, which is quite impressive.
BEC shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 15.74% yearly.
The Revenue has been growing slightly by 7.83% in the past year.
Measured over the past years, BEC shows a quite strong growth in Revenue. The Revenue has been growing by 12.26% on average per year.
EPS 1Y (TTM)22.49%
EPS 3Y52.14%
EPS 5Y15.74%
EPS Q2Q%13.33%
Revenue 1Y (TTM)7.83%
Revenue growth 3Y30.43%
Revenue growth 5Y12.26%
Sales Q2Q%8.26%
3.2 Future
The Earnings Per Share is expected to grow by 4.89% on average over the next years.
BEC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.40% yearly.
EPS Next Y8.76%
EPS Next 2Y7.73%
EPS Next 3Y4.89%
EPS Next 5YN/A
Revenue Next Year6.45%
Revenue Next 2Y5.43%
Revenue Next 3Y3.4%
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 decreasing.
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 7.04, the valuation of BEC can be described as very cheap.
BEC's Price/Earnings ratio is rather cheap when compared to the industry. BEC is cheaper than 81.82% of the companies in the same industry.
When comparing the Price/Earnings ratio of BEC to the average of the S&P500 Index (26.25), we can say BEC is valued rather cheaply.
A Price/Forward Earnings ratio of 10.21 indicates a reasonable valuation of BEC.
BEC's Price/Forward Earnings is on the same level as the industry average.
BEC's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.15.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.04 | ||
| Fwd PE | 10.21 |
4.2 Price Multiples
60.61% of the companies in the same industry are more expensive than BEC, based on the Enterprise Value to EBITDA ratio.
The rest of the industry has a similar Price/Free Cash Flow ratio as BEC.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.78 | ||
| EV/EBITDA | 5.87 |
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.
BEC has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.8
PEG (5Y)0.45
EPS Next 2Y7.73%
EPS Next 3Y4.89%
5. Dividend
5.1 Amount
BEC has a Yearly Dividend Yield of 6.10%, which is a nice return.
BEC's Dividend Yield is rather good when compared to the industry average which is at 4.41. BEC pays more dividend than 87.88% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, BEC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.1% |
5.2 History
On average, the dividend of BEC grows each year by 7.01%, which is quite nice.
Dividend Growth(5Y)7.01%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
30.59% of the earnings are spent on dividend by BEC. This is a low number and sustainable payout ratio.
The dividend of BEC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP30.59%
EPS Next 2Y7.73%
EPS Next 3Y4.89%
BIT:BEC (5/30/2025, 1:50:34 PM)
16.4
-0.03 (-0.15%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryHousehold Durables
Earnings (Last)
Earnings (Next)
Inst Owners27.49%
Inst Owner ChangeN/A
Ins Owners54%
Ins Owner ChangeN/A
Market Cap180.40M
Analysts80
Price Target19.71 (20.18%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.1% |
Yearly Dividend0.7
Dividend Growth(5Y)7.01%
DP30.59%
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.04 | ||
| Fwd PE | 10.21 | ||
| P/S | 1.21 | ||
| P/FCF | 16.78 | ||
| P/OCF | 13.91 | ||
| P/B | 3.27 | ||
| P/tB | 3.45 | ||
| EV/EBITDA | 5.87 |
EPS(TTM)2.33
EY14.21%
EPS(NY)1.61
Fwd EY9.79%
FCF(TTM)0.98
FCFY5.96%
OCF(TTM)1.18
OCFY7.19%
SpS13.6
BVpS5.02
TBVpS4.75
PEG (NY)0.8
PEG (5Y)0.45
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 28.77% | ||
| ROE | 45.49% | ||
| ROCE | 44.29% | ||
| ROIC | 35.43% | ||
| ROICexc | 41.04% | ||
| ROICexgc | 43.2% | ||
| OM | 19.38% | ||
| PM (TTM) | 16.78% | ||
| GM | 37.4% | ||
| FCFM | 7.18% |
ROA(3y)17.3%
ROA(5y)12.66%
ROE(3y)31.96%
ROE(5y)24.15%
ROIC(3y)26.56%
ROIC(5y)19.74%
ROICexc(3y)31.8%
ROICexc(5y)24.11%
ROICexgc(3y)33.73%
ROICexgc(5y)25.74%
ROCE(3y)32.9%
ROCE(5y)24.32%
ROICexcg growth 3Y17.34%
ROICexcg growth 5Y-0.79%
ROICexc growth 3Y18.52%
ROICexc growth 5Y-0.06%
OM growth 3Y9.42%
OM growth 5Y0.76%
PM growth 3Y17.26%
PM growth 5Y2.99%
GM growth 3Y1.29%
GM growth 5Y-0.86%
F-Score8
Asset Turnover1.71
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.22 | ||
| Debt/FCF | 1.63 | ||
| Debt/EBITDA | 0.38 | ||
| Cap/Depr | 82.09% | ||
| Cap/Sales | 1.48% | ||
| Interest Coverage | 31.63 | ||
| Cash Conversion | 40.91% | ||
| Profit Quality | 42.81% | ||
| Current Ratio | 3.25 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 7.66 |
F-Score8
WACC8.06%
ROIC/WACC4.4
Cap/Depr(3y)55.55%
Cap/Depr(5y)40.71%
Cap/Sales(3y)1.4%
Cap/Sales(5y)1.24%
Profit Quality(3y)64.2%
Profit Quality(5y)115.86%
High Growth Momentum
Growth
EPS 1Y (TTM)22.49%
EPS 3Y52.14%
EPS 5Y15.74%
EPS Q2Q%13.33%
EPS Next Y8.76%
EPS Next 2Y7.73%
EPS Next 3Y4.89%
EPS Next 5YN/A
Revenue 1Y (TTM)7.83%
Revenue growth 3Y30.43%
Revenue growth 5Y12.26%
Sales Q2Q%8.26%
Revenue Next Year6.45%
Revenue Next 2Y5.43%
Revenue Next 3Y3.4%
Revenue Next 5YN/A
EBIT growth 1Y-3.99%
EBIT growth 3Y42.71%
EBIT growth 5Y13.11%
EBIT Next Year19.14%
EBIT Next 3Y7.76%
EBIT Next 5YN/A
FCF growth 1Y-37.64%
FCF growth 3Y96.38%
FCF growth 5Y0.44%
OCF growth 1Y-29.3%
OCF growth 3Y90.76%
OCF growth 5Y2.37%