BANCA SISTEMA SPA (BST.MI) Stock Fundamental Analysis
BIT:BST - Euronext Milan - IT0003173629 - Common Stock - Currency: EUR
Taking everything into account, BST scores 5 out of 10 in our fundamental rating. BST was compared to 93 industry peers in the Banks industry. There are concerns on the financial health of BST while its profitability can be described as average. BST has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination!
1. Profitability
1.1 Basic Checks
In the past year BST was profitable.
BST had a negative operating cash flow in the past year.
In the past 5 years BST has always been profitable.
In multiple years BST reported negative operating cash flow during the last 5 years.
1.2 Ratios
BST has a Return On Assets (0.72%) which is in line with its industry peers.
With a Return On Equity value of 10.40%, BST perfoms like the industry average, outperforming 50.54% of the companies in the same industry.
BST has a Return On Invested Capital of 0.78%. This is amongst the best in the industry. BST outperforms 100.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BST is in line with the industry average of 0.78%.
The last Return On Invested Capital (0.78%) for BST is above the 3 year average (0.48%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.72% | ||
| ROE | 10.4% | ||
| ROIC | 0.78% |
ROA(3y)0.47%
ROA(5y)0.55%
ROE(3y)7.85%
ROE(5y)9.17%
ROIC(3y)0.48%
ROIC(5y)0.55%
1.3 Margins
With a Profit Margin value of 20.93%, BST perfoms like the industry average, outperforming 44.09% of the companies in the same industry.
In the last couple of years the Profit Margin of BST has declined.
BST has a better Operating Margin (34.68%) than 100.00% of its industry peers.
In the last couple of years the Operating Margin of BST has declined.
BST has a Gross Margin of 87.96%. This is amongst the best in the industry. BST outperforms 100.00% of its industry peers.
BST's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 34.68% | ||
| PM (TTM) | 20.93% | ||
| GM | 87.96% |
OM growth 3Y0.62%
OM growth 5Y-5.25%
PM growth 3Y-3.25%
PM growth 5Y-8.39%
GM growth 3Y-2.09%
GM growth 5Y-1.78%
2. Health
2.1 Basic Checks
BST has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
BST has about the same amout of shares outstanding than it did 1 year ago.
BST has about the same amout of shares outstanding than it did 5 years ago.
Compared to 1 year ago, BST has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of -0.79, we must say that BST is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -0.79, BST belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
BST has a Debt/Equity ratio of 12.48. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 12.48, BST is not doing good in the industry: 90.32% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.48 | ||
| Debt/FCF | N/A | ||
| Altman-Z | -0.79 |
ROIC/WACC0.21
WACC3.69%
2.3 Liquidity
BST has a Current Ratio of 0.04. This is a bad value and indicates that BST is not financially healthy enough and could expect problems in meeting its short term obligations.
BST has a better Current ratio (0.04) than 100.00% of its industry peers.
BST has a Quick Ratio of 0.04. This is a bad value and indicates that BST is not financially healthy enough and could expect problems in meeting its short term obligations.
BST's Quick ratio of 0.04 is amongst the best of the industry. BST outperforms 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.04 | ||
| Quick Ratio | 0.04 |
3. Growth
3.1 Past
BST shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 92.70%, which is quite impressive.
Measured over the past years, BST shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.89% on average per year.
The Revenue has grown by 25.56% in the past year. This is a very strong growth!
Measured over the past years, BST shows a small growth in Revenue. The Revenue has been growing by 5.61% on average per year.
EPS 1Y (TTM)92.7%
EPS 3Y2.71%
EPS 5Y-2.89%
EPS Q2Q%180.04%
Revenue 1Y (TTM)25.56%
Revenue growth 3Y6.16%
Revenue growth 5Y5.61%
Sales Q2Q%46.38%
3.2 Future
BST is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 33.09% yearly.
The Revenue is expected to grow by 9.42% on average over the next years. This is quite good.
EPS Next Y35.97%
EPS Next 2Y28.95%
EPS Next 3Y33.09%
EPS Next 5YN/A
Revenue Next Year9.74%
Revenue Next 2Y8.54%
Revenue Next 3Y9.42%
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.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 4.72, which indicates a rather cheap valuation of BST.
96.77% of the companies in the same industry are more expensive than BST, based on the Price/Earnings ratio.
BST is valuated cheaply when we compare the Price/Earnings ratio to 26.69, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 5.21, the valuation of BST can be described as very cheap.
Based on the Price/Forward Earnings ratio, BST is valued cheaper than 97.85% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.29. BST is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 4.72 | ||
| Fwd PE | 5.21 |
4.2 Price Multiples
BST's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BST is cheaper than 100.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 2.74 |
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.
BST's earnings are expected to grow with 33.09% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.13
PEG (5Y)N/A
EPS Next 2Y28.95%
EPS Next 3Y33.09%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.62%, BST has a reasonable but not impressive dividend return.
BST's Dividend Yield is slightly below the industry average, which is at 5.17.
Compared to an average S&P500 Dividend Yield of 2.43, BST pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.62% |
5.2 History
The dividend of BST decreases each year by -5.71%.
Dividend Growth(5Y)-5.71%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
BST pays out 15.99% of its income as dividend. This is a sustainable payout ratio.
DP15.99%
EPS Next 2Y28.95%
EPS Next 3Y33.09%
BIT:BST (6/26/2025, 10:47:26 AM)
1.934
+0.04 (+2.33%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners8.96%
Inst Owner ChangeN/A
Ins Owners23.61%
Ins Owner ChangeN/A
Market Cap155.53M
Analysts82.86
Price Target2.28 (17.89%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.62% |
Yearly Dividend0.07
Dividend Growth(5Y)-5.71%
DP15.99%
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)3.55%
PT rev (3m)3.55%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-4.75%
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 | 4.72 | ||
| Fwd PE | 5.21 | ||
| P/S | 1 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 0.5 | ||
| P/tB | 0.59 | ||
| EV/EBITDA | 2.74 |
EPS(TTM)0.41
EY21.2%
EPS(NY)0.37
Fwd EY19.19%
FCF(TTM)-0.81
FCFYN/A
OCF(TTM)-0.74
OCFYN/A
SpS1.94
BVpS3.91
TBVpS3.3
PEG (NY)0.13
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.72% | ||
| ROE | 10.4% | ||
| ROCE | 7.1% | ||
| ROIC | 0.78% | ||
| ROICexc | 0.81% | ||
| ROICexgc | 0.91% | ||
| OM | 34.68% | ||
| PM (TTM) | 20.93% | ||
| GM | 87.96% | ||
| FCFM | N/A |
ROA(3y)0.47%
ROA(5y)0.55%
ROE(3y)7.85%
ROE(5y)9.17%
ROIC(3y)0.48%
ROIC(5y)0.55%
ROICexc(3y)0.5%
ROICexc(5y)0.57%
ROICexgc(3y)0.54%
ROICexgc(5y)0.59%
ROCE(3y)4.74%
ROCE(5y)5.2%
ROICexcg growth 3Y1.01%
ROICexcg growth 5Y-2.17%
ROICexc growth 3Y-2.27%
ROICexc growth 5Y-4.36%
OM growth 3Y0.62%
OM growth 5Y-5.25%
PM growth 3Y-3.25%
PM growth 5Y-8.39%
GM growth 3Y-2.09%
GM growth 5Y-1.78%
F-Score4
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.48 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 67.99 | ||
| Cap/Depr | 155.31% | ||
| Cap/Sales | 3.54% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.04 | ||
| Quick Ratio | 0.04 | ||
| Altman-Z | -0.79 |
F-Score4
WACC3.69%
ROIC/WACC0.21
Cap/Depr(3y)105.28%
Cap/Depr(5y)497.24%
Cap/Sales(3y)2.58%
Cap/Sales(5y)9.76%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)92.7%
EPS 3Y2.71%
EPS 5Y-2.89%
EPS Q2Q%180.04%
EPS Next Y35.97%
EPS Next 2Y28.95%
EPS Next 3Y33.09%
EPS Next 5YN/A
Revenue 1Y (TTM)25.56%
Revenue growth 3Y6.16%
Revenue growth 5Y5.61%
Sales Q2Q%46.38%
Revenue Next Year9.74%
Revenue Next 2Y8.54%
Revenue Next 3Y9.42%
Revenue Next 5YN/A
EBIT growth 1Y101.93%
EBIT growth 3Y6.82%
EBIT growth 5Y0.07%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y59.56%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y62.38%
OCF growth 3YN/A
OCF growth 5YN/A