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. There are concerns on the financial health of FM while its profitability can be described as average. 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.
Of the past 5 years FM 4 years had a positive operating cash flow.
1.2 Ratios
FM has a Return On Assets (3.03%) which is in line with its industry peers.
With a decent Return On Equity value of 12.72%, FM is doing good in the industry, outperforming 68.25% of the companies in the same industry.
The Return On Invested Capital of FM (5.87%) 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 8.31%.
The last Return On Invested Capital (5.87%) for FM is above the 3 year average (3.92%), which is a sign of increasing profitability.
| 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 65.08% of its industry peers.
In the last couple of years the Profit Margin of FM has declined.
FM has a Operating Margin of 8.91%. This is in the better half of the industry: FM outperforms 65.08% of its industry peers.
In the last couple of years the Operating Margin of FM has declined.
FM has a Gross Margin of 57.18%. This is comparable to the rest of the industry: FM outperforms 52.38% of its industry peers.
FM's Gross Margin has declined in the last couple of years.
| 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.
Compared to 1 year ago, FM has less shares outstanding
FM has about the same amout of shares outstanding than it did 5 years ago.
FM has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.48, we must say that FM is in the distress zone and has some risk of bankruptcy.
FM has a Altman-Z score (1.48) which is comparable to the rest of the industry.
The Debt to FCF ratio of FM is 6.51, which is on the high side as it means it would take FM, 6.51 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of FM (6.51) is comparable to the rest of the industry.
FM has a Debt/Equity ratio of 1.88. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.88, FM is not doing good in the industry: 76.19% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.88 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 1.48 |
ROIC/WACC1.06
WACC5.54%
2.3 Liquidity
A Current Ratio of 0.77 indicates that FM may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.77, FM is doing worse than 73.02% of the companies in the same industry.
FM has a Quick Ratio of 0.77. This is a bad value and indicates that FM is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of FM (0.73) is worse than 73.02% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.77 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
FM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -82.30%.
FM shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -10.93% yearly.
The Revenue has decreased by -6.19% in the past year.
The Revenue has been decreasing by -0.47% on average over the past years.
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
FM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 49.90% 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 Y215.79%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
EPS Next 5YN/A
Revenue Next Year31.44%
Revenue Next 2Y14.65%
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 51.69, FM can be considered very expensive at the moment.
61.90% of the companies in the same industry are cheaper than FM, based on the Price/Earnings ratio.
FM is valuated expensively when we compare the Price/Earnings ratio to 27.03, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 20.39, which indicates a rather expensive current valuation of FM.
The rest of the industry has a similar Price/Forward Earnings ratio as FM.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.28, FM is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.69 | ||
| Fwd PE | 20.39 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FM is valued a bit more expensive than 63.49% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, FM is valued a bit cheaper than 60.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.16 | ||
| EV/EBITDA | 8.37 |
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 49.90% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.24
PEG (5Y)N/A
EPS Next 2Y29.78%
EPS Next 3Y49.9%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.17%, FM has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 6.13, 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 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.17% |
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
FM pays out 49.96% of its income as dividend. This is a bit on the high side, but may be sustainable.
FM's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP49.96%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
BIT:FM (8/6/2025, 12:23:57 PM)
6.72
+0.01 (+0.15%)
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 Cap483.30M
Analysts86.67
Price Target6.43 (-4.32%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.17% |
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)0%
PT rev (3m)1.61%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)3.89%
Revenue NY rev (3m)3.89%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.69 | ||
| Fwd PE | 20.39 | ||
| P/S | 1.25 | ||
| P/FCF | 9.16 | ||
| P/OCF | 8.42 | ||
| P/B | 3.08 | ||
| P/tB | 9.19 | ||
| EV/EBITDA | 8.37 |
EPS(TTM)0.13
EY1.93%
EPS(NY)0.33
Fwd EY4.9%
FCF(TTM)0.73
FCFY10.92%
OCF(TTM)0.8
OCFY11.88%
SpS5.36
BVpS2.18
TBVpS0.73
PEG (NY)0.24
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 | 1.48 |
F-Score6
WACC5.54%
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 Year31.44%
Revenue Next 2Y14.65%
Revenue Next 3Y14.08%
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%