BANCA SISTEMA SPA (BST.MI) Stock Fundamental Analysis
BIT:BST - IT0003173629 - Common Stock
1.618 EUR
-0.03 (-1.58%)
We assign a fundamental rating of 5 out of 10 to BST. BST was compared to 89 industry peers in the Banks industry. While BST is still in line with the averages on profitability rating, there are concerns on its financial health. BST scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
BST had positive earnings in the past year.
In the past year BST has reported a negative cash flow from operations.
In the past 5 years BST has always been profitable.
The reported operating cash flow has been mixed in the past 5 years: BST reported negative operating cash flow in multiple years.
1.2 Ratios
BST's Return On Assets of 0.72% is in line compared to the rest of the industry. BST outperforms 51.69% of its industry peers.
With a Return On Equity value of 10.40%, BST perfoms like the industry average, outperforming 55.06% of the companies in the same industry.
BST has a better Return On Invested Capital (0.78%) than 98.88% of its industry peers.
BST had an Average Return On Invested Capital over the past 3 years of 0.48%. This is below the industry average of 4.17%.
The 3 year average ROIC (0.48%) for BST is below the current ROIC(0.78%), indicating increased profibility in the last year.
| 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
BST's Profit Margin of 20.93% is in line compared to the rest of the industry. BST outperforms 44.94% of its industry peers.
In the last couple of years the Profit Margin of BST has declined.
Looking at the Operating Margin, with a value of 34.68%, BST belongs to the top of the industry, outperforming 98.88% of the companies in the same industry.
In the last couple of years the Operating Margin of BST has declined.
The Gross Margin of BST (87.96%) is better than 98.88% 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BST is destroying value.
Compared to 1 year ago, BST has about the same amount of shares outstanding.
The number of shares outstanding for BST remains at a similar level compared to 5 years ago.
BST has a better debt/assets ratio than last year.
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.
BST has a Altman-Z score of -0.79. This is amongst the best in the industry. BST outperforms 98.88% of its industry peers.
A Debt/Equity ratio of 12.48 is on the high side and indicates that BST has dependencies on debt financing.
BST has a Debt to Equity ratio of 12.48. This is amonst the worse of the industry: BST underperforms 91.01% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.48 | ||
| Debt/FCF | N/A | ||
| Altman-Z | -0.79 |
ROIC/WACC0.22
WACC3.62%
2.3 Liquidity
A Current Ratio of 0.04 indicates that BST may have some problems paying its short term obligations.
With an excellent Current ratio value of 0.04, BST belongs to the best of the industry, outperforming 98.88% of the companies in the same industry.
A Quick Ratio of 0.04 indicates that BST may have some problems paying its short term obligations.
The Quick ratio of BST (0.04) is better than 98.88% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.04 | ||
| Quick Ratio | 0.04 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 92.70% over the past year.
The Earnings Per Share has been decreasing by -2.89% on average over the past years.
BST shows a strong growth in Revenue. In the last year, the Revenue has grown by 25.56%.
The Revenue has been growing slightly by 5.61% on average over the past years.
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 22.00% yearly.
Based on estimates for the next years, BST will show a small growth in Revenue. The Revenue will grow by 5.12% on average per year.
EPS Next Y48.87%
EPS Next 2Y29.57%
EPS Next 3Y22%
EPS Next 5YN/A
Revenue Next Year14.15%
Revenue Next 2Y8.98%
Revenue Next 3Y5.12%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 3.95, the valuation of BST can be described as very cheap.
Based on the Price/Earnings ratio, BST is valued cheaper than 97.75% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.07. BST is valued rather cheaply when compared to this.
BST is valuated cheaply with a Price/Forward Earnings ratio of 4.32.
Based on the Price/Forward Earnings ratio, BST is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
BST's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.59.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.95 | ||
| Fwd PE | 4.32 |
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 | 2.39 |
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.
A more expensive valuation may be justified as BST's earnings are expected to grow with 22.00% in the coming years.
PEG (NY)0.08
PEG (5Y)N/A
EPS Next 2Y29.57%
EPS Next 3Y22%
5. Dividend
5.1 Amount
BST has a Yearly Dividend Yield of 5.54%, which is a nice return.
BST's Dividend Yield is comparable with the industry average which is at 5.09.
BST's Dividend Yield is rather good when compared to the S&P500 average which is at 2.46.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.54% |
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 2Y29.57%
EPS Next 3Y22%
BIT:BST (9/9/2025, 7:00:00 PM)
1.618
-0.03 (-1.58%)
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 Cap130.12M
Analysts77.14
Price Target1.96 (21.14%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.54% |
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)-14.03%
PT rev (3m)-10.98%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)9.48%
EPS NY rev (3m)9.48%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.27%
Revenue NY rev (3m)4.02%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.95 | ||
| Fwd PE | 4.32 | ||
| P/S | 0.83 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 0.41 | ||
| P/tB | 0.49 | ||
| EV/EBITDA | 2.39 |
EPS(TTM)0.41
EY25.34%
EPS(NY)0.37
Fwd EY23.16%
FCF(TTM)-0.81
FCFYN/A
OCF(TTM)-0.74
OCFYN/A
SpS1.94
BVpS3.91
TBVpS3.3
PEG (NY)0.08
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
WACC3.62%
ROIC/WACC0.22
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 Y48.87%
EPS Next 2Y29.57%
EPS Next 3Y22%
EPS Next 5YN/A
Revenue 1Y (TTM)25.56%
Revenue growth 3Y6.16%
Revenue growth 5Y5.61%
Sales Q2Q%46.38%
Revenue Next Year14.15%
Revenue Next 2Y8.98%
Revenue Next 3Y5.12%
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