FIERA MILANO SPA (FM.MI) Stock Fundamental Analysis
BIT:FM - Euronext Milan - IT0003365613 - Common Stock - Currency: EUR
Overall FM gets a fundamental rating of 3 out of 10. We evaluated FM against 63 industry peers in the Media industry. While FM is still in line with the averages on profitability rating, there are concerns on its financial health. FM is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year FM was profitable.
In the past year FM had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: FM reported negative net income in multiple years.
Of the past 5 years FM 4 years had a positive operating cash flow.
1.2 Ratios
FM has a Return On Assets of 3.03%. This is comparable to the rest of the industry: FM outperforms 58.73% of its industry peers.
Looking at the Return On Equity, with a value of 12.72%, FM is in the better half of the industry, outperforming 68.25% of the companies in the same industry.
FM's Return On Invested Capital of 5.87% is in line compared to the rest of the industry. FM outperforms 52.38% of its industry peers.
FM had an Average Return On Invested Capital over the past 3 years of 3.92%. This is below the industry average of 7.76%.
The 3 year average ROIC (3.92%) for FM is below the current ROIC(5.87%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.03% | ||
| ROE | 12.72% | ||
| ROIC | 5.87% |
ROA(3y)2.72%
ROA(5y)1.75%
ROE(3y)12.58%
ROE(5y)4.94%
ROIC(3y)3.92%
ROIC(5y)N/A
1.3 Margins
FM has a Profit Margin of 5.17%. This is in the better half of the industry: FM outperforms 66.67% of its industry peers.
In the last couple of years the Profit Margin of FM has declined.
FM has a better Operating Margin (8.91%) than 65.08% of its industry peers.
FM's Operating Margin has declined in the last couple of years.
FM has a Gross Margin (57.18%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of FM has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.91% | ||
| PM (TTM) | 5.17% | ||
| GM | 57.18% |
OM growth 3YN/A
OM growth 5Y-13.99%
PM growth 3Y-42.06%
PM growth 5Y-10.53%
GM growth 3Y3.78%
GM growth 5Y-3.18%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so FM is still creating some value.
The number of shares outstanding for FM has been reduced compared to 1 year ago.
The number of shares outstanding for FM remains at a similar level compared to 5 years ago.
Compared to 1 year ago, FM has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.40, we must say that FM is in the distress zone and has some risk of bankruptcy.
FM's Altman-Z score of 1.40 is in line compared to the rest of the industry. FM outperforms 42.86% of its industry peers.
FM has a debt to FCF ratio of 6.51. This is a slightly negative value and a sign of low solvency as FM would need 6.51 years to pay back of all of its debts.
With a Debt to FCF ratio value of 6.51, FM perfoms like the industry average, outperforming 46.03% of the companies in the same industry.
FM has a Debt/Equity ratio of 1.88. This is a high value indicating a heavy dependency on external financing.
FM's Debt to Equity ratio of 1.88 is on the low side compared to the rest of the industry. FM is outperformed by 79.37% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.88 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 1.4 |
ROIC/WACC1.06
WACC5.55%
2.3 Liquidity
A Current Ratio of 0.77 indicates that FM may have some problems paying its short term obligations.
FM has a Current ratio of 0.77. This is in the lower half of the industry: FM underperforms 73.02% of its industry peers.
A Quick Ratio of 0.73 indicates that FM may have some problems paying its short term obligations.
FM has a worse Quick ratio (0.73) than 73.02% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
The earnings per share for FM have decreased strongly by -82.30% in the last year.
The earnings per share for FM have been decreasing by -10.93% on average. This is quite bad
Looking at the last year, FM shows a decrease in Revenue. The Revenue has decreased by -6.19% in the last year.
Measured over the past years, FM shows a decrease in Revenue. The Revenue has been decreasing by -0.47% on average per year.
EPS 1Y (TTM)-82.3%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%-141.89%
Revenue 1Y (TTM)-6.19%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%-11.97%
3.2 Future
The Earnings Per Share is expected to grow by 49.90% on average over the next years. This is a very strong growth
FM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.18% yearly.
EPS Next Y215.79%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
EPS Next 5YN/A
Revenue Next Year26.52%
Revenue Next 2Y9.23%
Revenue Next 3Y10.69%
Revenue Next 5Y3.18%
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 45.46, which means the current valuation is very expensive for FM.
60.32% of the companies in the same industry are cheaper than FM, based on the Price/Earnings ratio.
FM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.34.
Based on the Price/Forward Earnings ratio of 17.93, the valuation of FM can be described as rather expensive.
The rest of the industry has a similar Price/Forward Earnings ratio as FM.
FM is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.19, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 45.46 | ||
| Fwd PE | 17.93 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FM is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FM indicates a somewhat cheap valuation: FM is cheaper than 65.08% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.05 | ||
| EV/EBITDA | 7.58 |
4.3 Compensation for Growth
FM's 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 FM's earnings are expected to grow with 49.90% in the coming years.
PEG (NY)0.21
PEG (5Y)N/A
EPS Next 2Y29.78%
EPS Next 3Y49.9%
5. Dividend
5.1 Amount
FM has a Yearly Dividend Yield of 3.44%. Purely for dividend investing, there may be better candidates out there.
FM's Dividend Yield is a higher than the industry average which is at 4.70.
FM's Dividend Yield is a higher than the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.44% |
5.2 History
The dividend of FM is nicely growing with an annual growth rate of 86.01%!
Dividend Growth(5Y)86.01%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
49.96% of the earnings are spent on dividend by FM. This is a bit on the high side, but may be sustainable.
The dividend of FM is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP49.96%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
BIT:FM (6/18/2025, 7:00:00 PM)
5.91
+0.14 (+2.43%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)
Earnings (Next)
Inst Owners8.82%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap425.05M
Analysts86.67
Price Target6.43 (8.8%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.44% |
Yearly Dividend0.14
Dividend Growth(5Y)86.01%
DP49.96%
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)1.61%
PT rev (3m)5%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)1.69%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.83%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 45.46 | ||
| Fwd PE | 17.93 | ||
| P/S | 1.1 | ||
| P/FCF | 8.05 | ||
| P/OCF | 7.4 | ||
| P/B | 2.71 | ||
| P/tB | 8.08 | ||
| EV/EBITDA | 7.58 |
EPS(TTM)0.13
EY2.2%
EPS(NY)0.33
Fwd EY5.58%
FCF(TTM)0.73
FCFY12.42%
OCF(TTM)0.8
OCFY13.51%
SpS5.36
BVpS2.18
TBVpS0.73
PEG (NY)0.21
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.03% | ||
| ROE | 12.72% | ||
| ROCE | 7.4% | ||
| ROIC | 5.87% | ||
| ROICexc | 7.29% | ||
| ROICexgc | 10.09% | ||
| OM | 8.91% | ||
| PM (TTM) | 5.17% | ||
| GM | 57.18% | ||
| FCFM | 13.69% |
ROA(3y)2.72%
ROA(5y)1.75%
ROE(3y)12.58%
ROE(5y)4.94%
ROIC(3y)3.92%
ROIC(5y)N/A
ROICexc(3y)5.12%
ROICexc(5y)N/A
ROICexgc(3y)7.06%
ROICexgc(5y)N/A
ROCE(3y)4.95%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y-7.85%
ROICexc growth 3YN/A
ROICexc growth 5Y-9.28%
OM growth 3YN/A
OM growth 5Y-13.99%
PM growth 3Y-42.06%
PM growth 5Y-10.53%
GM growth 3Y3.78%
GM growth 5Y-3.18%
F-Score6
Asset Turnover0.59
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.88 | ||
| Debt/FCF | 6.51 | ||
| Debt/EBITDA | 3.43 | ||
| Cap/Depr | 9.01% | ||
| Cap/Sales | 1.2% | ||
| Interest Coverage | 2.85 | ||
| Cash Conversion | 66.89% | ||
| Profit Quality | 264.75% | ||
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.73 | ||
| Altman-Z | 1.4 |
F-Score6
WACC5.55%
ROIC/WACC1.06
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)1.89%
Cap/Sales(5y)3.77%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-82.3%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%-141.89%
EPS Next Y215.79%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
EPS Next 5YN/A
Revenue 1Y (TTM)-6.19%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%-11.97%
Revenue Next Year26.52%
Revenue Next 2Y9.23%
Revenue Next 3Y10.69%
Revenue Next 5Y3.18%
EBIT growth 1Y-1.63%
EBIT growth 3YN/A
EBIT growth 5Y-14.4%
EBIT Next Year361.24%
EBIT Next 3Y69.66%
EBIT Next 5YN/A
FCF growth 1Y-40.98%
FCF growth 3Y-21.05%
FCF growth 5Y-9.2%
OCF growth 1Y-40.04%
OCF growth 3Y-20.25%
OCF growth 5Y-9.22%