FIERA MILANO SPA (FM.MI) Stock Fundamental Analysis
Europe - BIT:FM - IT0003365613 - Common Stock
7.275 EUR
-0.17 (-2.28%)
We assign a fundamental rating of 3 out of 10 to FM. FM was compared to 69 industry peers in the Media industry. Both the profitability and financial health of FM have multiple concerns. FM has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
FM had positive earnings in the past year.
FM had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: FM reported negative net income in multiple years.
FM had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
FM has a Return On Assets of 1.23%. This is comparable to the rest of the industry: FM outperforms 41.18% of its industry peers.
FM has a Return On Equity of 5.97%. This is comparable to the rest of the industry: FM outperforms 48.53% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.75%, FM is in line with its industry, outperforming 45.59% of the companies in the same industry.
FM had an Average Return On Invested Capital over the past 3 years of 3.92%. This is below the industry average of 7.74%.
The last Return On Invested Capital (4.75%) for FM is above the 3 year average (3.92%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.23% | ||
| ROE | 5.97% | ||
| ROIC | 4.75% |
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 (2.24%) which is comparable to the rest of the industry.
FM's Profit Margin has declined in the last couple of years.
FM's Operating Margin of 7.14% is in line compared to the rest of the industry. FM outperforms 54.41% of its industry peers.
In the last couple of years the Operating Margin of FM has declined.
FM has a Gross Margin of 54.45%. This is comparable to the rest of the industry: FM outperforms 52.94% of its industry peers.
FM's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.14% | ||
| PM (TTM) | 2.24% | ||
| GM | 54.45% |
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 below the Cost of Capital (WACC), so FM is destroying 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
FM has an Altman-Z score of 1.37. This is a bad value and indicates that FM is not financially healthy and even has some risk of bankruptcy.
FM has a Altman-Z score (1.37) which is in line with its industry peers.
The Debt to FCF ratio of FM is 3.03, which is a good value as it means it would take FM, 3.03 years of fcf income to pay off all of its debts.
FM has a Debt to FCF ratio of 3.03. This is in the better half of the industry: FM outperforms 73.53% of its industry peers.
A Debt/Equity ratio of 2.01 is on the high side and indicates that FM has dependencies on debt financing.
FM has a worse Debt to Equity ratio (2.01) than 83.82% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.01 | ||
| Debt/FCF | 3.03 | ||
| Altman-Z | 1.37 |
ROIC/WACC0.83
WACC5.71%
2.3 Liquidity
FM has a Current Ratio of 0.89. This is a bad value and indicates that FM is not financially healthy enough and could expect problems in meeting its short term obligations.
FM's Current ratio of 0.89 is on the low side compared to the rest of the industry. FM is outperformed by 61.76% of its industry peers.
A Quick Ratio of 0.86 indicates that FM may have some problems paying its short term obligations.
FM has a Quick ratio (0.86) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.89 | ||
| Quick Ratio | 0.86 |
3. Growth
3.1 Past
FM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -80.81%.
FM shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -10.93% yearly.
Looking at the last year, FM shows a decrease in Revenue. The Revenue has decreased by -0.85% 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)-80.81%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%0.91%
Revenue 1Y (TTM)-0.85%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%23.19%
3.2 Future
FM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 48.32% yearly.
The Revenue is expected to grow by 3.18% on average over the next years.
EPS Next Y221.05%
EPS Next 2Y37.65%
EPS Next 3Y48.32%
EPS Next 5YN/A
Revenue Next Year37.88%
Revenue Next 2Y17.26%
Revenue Next 3Y14.08%
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
With a Price/Earnings ratio of 55.96, FM can be considered very expensive at the moment.
Based on the Price/Earnings ratio, FM is valued a bit more expensive than 61.76% of the companies in the same industry.
When comparing the Price/Earnings ratio of FM to the average of the S&P500 Index (27.29), we can say FM is valued expensively.
Based on the Price/Forward Earnings ratio of 19.62, the valuation of FM can be described as rather expensive.
FM's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.85, FM is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 55.96 | ||
| Fwd PE | 19.62 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FM is valued a bit more expensive than the industry average as 67.65% of the companies are valued more cheaply.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FM indicates a rather cheap valuation: FM is cheaper than 88.24% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.4 | ||
| EV/EBITDA | 9.08 |
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.
FM's earnings are expected to grow with 48.32% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.25
PEG (5Y)N/A
EPS Next 2Y37.65%
EPS Next 3Y48.32%
5. Dividend
5.1 Amount
FM has a Yearly Dividend Yield of 2.65%.
Compared to an average industry Dividend Yield of 5.53, FM pays a bit more dividend than its industry peers.
FM's Dividend Yield is comparable with the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.65% |
5.2 History
On average, the dividend of FM grows each year by 86.01%, which is quite nice.
Dividend Growth(5Y)86.01%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
154.46% of the earnings are spent on dividend by FM. This is not a sustainable payout ratio.
FM's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP154.46%
EPS Next 2Y37.65%
EPS Next 3Y48.32%
BIT:FM (10/17/2025, 5:29:46 PM)
7.275
-0.17 (-2.28%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)
Earnings (Next)
Inst Owners9.31%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap523.22M
Analysts86.67
Price Target8.36 (14.91%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.65% |
Yearly Dividend0.14
Dividend Growth(5Y)86.01%
DP154.46%
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)17.14%
PT rev (3m)30.16%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)1.67%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)8.98%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 55.96 | ||
| Fwd PE | 19.62 | ||
| P/S | 1.27 | ||
| P/FCF | 4.4 | ||
| P/OCF | 4.16 | ||
| P/B | 3.39 | ||
| P/tB | 11.86 | ||
| EV/EBITDA | 9.08 |
EPS(TTM)0.13
EY1.79%
EPS(NY)0.37
Fwd EY5.1%
FCF(TTM)1.65
FCFY22.74%
OCF(TTM)1.75
OCFY24.04%
SpS5.71
BVpS2.14
TBVpS0.61
PEG (NY)0.25
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.23% | ||
| ROE | 5.97% | ||
| ROCE | 5.99% | ||
| ROIC | 4.75% | ||
| ROICexc | 6.95% | ||
| ROICexgc | 10.36% | ||
| OM | 7.14% | ||
| PM (TTM) | 2.24% | ||
| GM | 54.45% | ||
| FCFM | 28.98% |
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 Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.01 | ||
| Debt/FCF | 3.03 | ||
| Debt/EBITDA | 3.87 | ||
| Cap/Depr | 13.47% | ||
| Cap/Sales | 1.66% | ||
| Interest Coverage | 2.49 | ||
| Cash Conversion | 157.35% | ||
| Profit Quality | 1292.33% | ||
| Current Ratio | 0.89 | ||
| Quick Ratio | 0.86 | ||
| Altman-Z | 1.37 |
F-Score6
WACC5.71%
ROIC/WACC0.83
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)-80.81%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%0.91%
EPS Next Y221.05%
EPS Next 2Y37.65%
EPS Next 3Y48.32%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.85%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%23.19%
Revenue Next Year37.88%
Revenue Next 2Y17.26%
Revenue Next 3Y14.08%
Revenue Next 5Y3.18%
EBIT growth 1Y-52.83%
EBIT growth 3YN/A
EBIT growth 5Y-14.4%
EBIT Next Year372.87%
EBIT Next 3Y69.66%
EBIT Next 5YN/A
FCF growth 1Y93.93%
FCF growth 3Y-21.05%
FCF growth 5Y-9.2%
OCF growth 1Y92.1%
OCF growth 3Y-20.25%
OCF growth 5Y-9.22%