FIERA MILANO SPA (FM.MI) Stock Fundamental Analysis
BIT:FM - IT0003365613 - Common Stock
6.965 EUR
-0.05 (-0.78%)
We assign a fundamental rating of 3 out of 10 to FM. FM was compared to 62 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 on the other hand it scores bad on growth.
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.
In multiple years FM reported negative net income over the last 5 years.
FM had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
FM has a Return On Assets (1.23%) which is comparable to the rest of the industry.
FM has a Return On Equity of 5.97%. This is comparable to the rest of the industry: FM outperforms 54.10% of its industry peers.
FM has a Return On Invested Capital (4.75%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for FM is below the industry average of 7.82%.
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.
With a Operating Margin value of 7.14%, FM perfoms like the industry average, outperforming 55.74% of the companies in the same industry.
FM's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 54.45%, FM perfoms like the industry average, outperforming 54.10% of the companies in the same industry.
In the last couple of years the Gross Margin of FM has declined.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FM is destroying value.
FM has less shares outstanding than it did 1 year ago.
The number of shares outstanding for FM remains at a similar level compared to 5 years ago.
FM has a better debt/assets ratio than last year.
2.2 Solvency
FM has an Altman-Z score of 1.33. This is a bad value and indicates that FM is not financially healthy and even has some risk of bankruptcy.
FM's Altman-Z score of 1.33 is in line compared to the rest of the industry. FM outperforms 47.54% of 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.
The Debt to FCF ratio of FM (3.03) is better than 68.85% of its industry peers.
FM has a Debt/Equity ratio of 2.01. This is a high value indicating a heavy dependency on external financing.
FM's Debt to Equity ratio of 2.01 is on the low side compared to the rest of the industry. FM is outperformed by 83.61% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.01 | ||
| Debt/FCF | 3.03 | ||
| Altman-Z | 1.33 |
ROIC/WACC0.85
WACC5.6%
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.
Looking at the Current ratio, with a value of 0.89, FM is doing worse than 60.66% of the companies in the same industry.
FM has a Quick 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.
Looking at the Quick ratio, with a value of 0.86, FM is in line with its industry, outperforming 40.98% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.89 | ||
| Quick Ratio | 0.86 |
3. Growth
3.1 Past
The earnings per share for FM have decreased strongly by -80.81% in the last year.
Measured over the past years, FM shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -10.93% on average per year.
FM shows a decrease in Revenue. In the last year, the revenue decreased by -0.85%.
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.
Based on estimates for the next years, FM will show a small growth in Revenue. The Revenue will grow by 3.18% on average per year.
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
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 accelerating.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 53.58, the valuation of FM can be described as expensive.
60.66% of the companies in the same industry are cheaper than FM, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of FM to the average of the S&P500 Index (27.13), we can say FM is valued expensively.
A Price/Forward Earnings ratio of 18.78 indicates a rather expensive valuation of FM.
FM's Price/Forward Earnings ratio is in line with the industry average.
When comparing the Price/Forward Earnings ratio of FM to the average of the S&P500 Index (22.76), we can say FM is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 53.58 | ||
| Fwd PE | 18.78 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FM indicates a slightly more expensive valuation: FM is more expensive than 60.66% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, FM is valued cheaply inside the industry as 86.89% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.21 | ||
| EV/EBITDA | 8.65 |
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 48.32% in the coming years.
PEG (NY)0.24
PEG (5Y)N/A
EPS Next 2Y37.65%
EPS Next 3Y48.32%
5. Dividend
5.1 Amount
FM has a Yearly Dividend Yield of 2.85%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.03, FM pays a bit more dividend than its industry peers.
FM's Dividend Yield is a higher than the S&P500 average which is at 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.85% |
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.
The dividend of FM is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP154.46%
EPS Next 2Y37.65%
EPS Next 3Y48.32%
BIT:FM (8/29/2025, 5:29:19 PM)
6.965
-0.05 (-0.78%)
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 Cap500.92M
Analysts86.67
Price Target7.14 (2.51%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.85% |
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)11.11%
PT rev (3m)12.9%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)1.67%
EPS NY rev (3m)1.67%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)4.9%
Revenue NY rev (3m)8.98%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 53.58 | ||
| Fwd PE | 18.78 | ||
| P/S | 1.22 | ||
| P/FCF | 4.21 | ||
| P/OCF | 3.98 | ||
| P/B | 3.25 | ||
| P/tB | 11.35 | ||
| EV/EBITDA | 8.65 |
EPS(TTM)0.13
EY1.87%
EPS(NY)0.37
Fwd EY5.32%
FCF(TTM)1.65
FCFY23.75%
OCF(TTM)1.75
OCFY25.11%
SpS5.71
BVpS2.14
TBVpS0.61
PEG (NY)0.24
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 | 1.33 |
F-Score6
WACC5.6%
ROIC/WACC0.85
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 Year361.24%
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%