FIERA MILANO SPA (FM.MI) Stock Fundamental Analysis
BIT:FM - Euronext Milan - IT0003365613 - Common Stock - Currency: EUR
Overall FM gets a fundamental rating of 4 out of 10. We evaluated FM against 61 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 correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year FM was profitable.
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
The Return On Assets of FM (3.03%) is better than 62.30% 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 67.21% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 5.87%, FM is in line with its industry, outperforming 50.82% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for FM is below the industry average of 8.60%.
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
With a decent Profit Margin value of 5.17%, FM is doing good in the industry, outperforming 62.30% of the companies in the same industry.
FM's Profit Margin has declined in the last couple of years.
FM has a Operating Margin of 8.91%. This is in the better half of the industry: FM outperforms 65.57% of its industry peers.
In the last couple of years the Operating Margin of FM has declined.
FM has a Gross Margin (57.18%) which is in line with 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.
FM has less shares outstanding than it did 1 year ago.
FM has about the same amout of shares outstanding than it did 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 1.35. 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 (1.35) which is in line with its industry peers.
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.
FM has a worse Debt to Equity ratio (1.88) than 77.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.88 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 1.35 |
ROIC/WACC1.09
WACC5.38%
2.3 Liquidity
A Current Ratio of 0.77 indicates that FM may have some problems paying its short term obligations.
The Current ratio of FM (0.77) is worse than 72.13% 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 70.49% 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 -61.04% 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.
The Revenue has been growing slightly by 2.13% in the past year.
FM shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.47% yearly.
EPS 1Y (TTM)-61.04%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%-117.71%
Revenue 1Y (TTM)2.13%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%-15.07%
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
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 Year26.52%
Revenue Next 2Y9.23%
Revenue Next 3Y10.69%
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
The Price/Earnings ratio is 18.86, which indicates a rather expensive current valuation of FM.
Compared to the rest of the industry, the Price/Earnings ratio of FM is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 24.29. FM is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 8.54, the valuation of FM can be described as reasonable.
78.69% of the companies in the same industry are more expensive than FM, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 20.42. FM is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.86 | ||
| Fwd PE | 8.54 |
4.2 Price Multiples
FM's Enterprise Value to EBITDA is on the same level as the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FM indicates a somewhat cheap valuation: FM is cheaper than 67.21% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.2 | ||
| EV/EBITDA | 7.14 |
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)0.09
PEG (5Y)N/A
EPS Next 2Y29.78%
EPS Next 3Y49.9%
5. Dividend
5.1 Amount
FM has a Yearly Dividend Yield of 3.91%. 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 4.55.
FM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.43.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.91% |
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.
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 (5/7/2025, 5:21:19 PM)
5.28
+0.04 (+0.76%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)
Earnings (Next)
Inst Owners8.16%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap379.74M
Analysts86.67
Price Target6.32 (19.7%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.91% |
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)3.33%
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)1.83%
Revenue NY rev (3m)1.83%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.86 | ||
| Fwd PE | 8.54 | ||
| P/S | 0.98 | ||
| P/FCF | 7.2 | ||
| P/OCF | 6.61 | ||
| P/B | 2.42 | ||
| P/tB | 7.22 | ||
| EV/EBITDA | 7.14 |
EPS(TTM)0.28
EY5.3%
EPS(NY)0.62
Fwd EY11.7%
FCF(TTM)0.73
FCFY13.9%
OCF(TTM)0.8
OCFY15.12%
SpS5.36
BVpS2.18
TBVpS0.73
PEG (NY)0.09
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 | 1.35 |
F-Score6
WACC5.38%
ROIC/WACC1.09
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)-61.04%
EPS 3Y-23.61%
EPS 5Y-10.93%
EPS Q2Q%-117.71%
EPS Next Y215.79%
EPS Next 2Y29.78%
EPS Next 3Y49.9%
EPS Next 5YN/A
Revenue 1Y (TTM)2.13%
Revenue growth 3Y30.71%
Revenue growth 5Y-0.47%
Sales Q2Q%-15.07%
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 Year357.36%
EBIT Next 3Y68.3%
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%