FNM SPA (FNM.MI) Fundamental Analysis & Valuation

BIT:FNM • IT0000060886

Current stock price

0.473 EUR
-0.01 (-1.46%)
Last:

This FNM.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. FNM.MI Profitability Analysis

1.1 Basic Checks

  • FNM had positive earnings in the past year.
  • In the past year FNM had a positive cash flow from operations.
  • Each year in the past 5 years FNM has been profitable.
  • FNM had a positive operating cash flow in each of the past 5 years.
FNM.MI Yearly Net Income VS EBIT VS OCF VS FCFFNM.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M

1.2 Ratios

  • The Return On Assets of FNM (4.55%) is comparable to the rest of the industry.
  • FNM has a Return On Equity of 26.06%. This is in the better half of the industry: FNM outperforms 71.43% of its industry peers.
  • FNM has a Return On Invested Capital of 29.28%. This is amongst the best in the industry. FNM outperforms 100.00% of its industry peers.
  • FNM had an Average Return On Invested Capital over the past 3 years of 15.22%. This is significantly above the industry average of 9.02%.
  • The 3 year average ROIC (15.22%) for FNM is below the current ROIC(29.28%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.55%
ROE 26.06%
ROIC 29.28%
ROA(3y)3.25%
ROA(5y)2.8%
ROE(3y)20.91%
ROE(5y)17.55%
ROIC(3y)15.22%
ROIC(5y)12.61%
FNM.MI Yearly ROA, ROE, ROICFNM.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • FNM has a Profit Margin (7.73%) which is in line with its industry peers.
  • In the last couple of years the Profit Margin of FNM has declined.
  • FNM has a better Operating Margin (42.04%) than 100.00% of its industry peers.
  • FNM's Operating Margin has improved in the last couple of years.
  • The Gross Margin of FNM (96.15%) is better than 100.00% of its industry peers.
  • In the last couple of years the Gross Margin of FNM has remained more or less at the same level.
Industry RankSector Rank
OM 42.04%
PM (TTM) 7.73%
GM 96.15%
OM growth 3Y10.39%
OM growth 5Y13.92%
PM growth 3Y-2.18%
PM growth 5Y-7.24%
GM growth 3Y0.1%
GM growth 5Y0.65%
FNM.MI Yearly Profit, Operating, Gross MarginsFNM.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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3

2. FNM.MI Health Analysis

2.1 Basic Checks

  • FNM has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • FNM has about the same amout of shares outstanding than it did 1 year ago.
  • FNM has about the same amout of shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, FNM has a worse debt to assets ratio.
FNM.MI Yearly Shares OutstandingFNM.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
FNM.MI Yearly Total Debt VS Total AssetsFNM.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

  • FNM has an Altman-Z score of 1.59. This is a bad value and indicates that FNM is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of FNM (1.59) is comparable to the rest of the industry.
  • FNM has a debt to FCF ratio of 20.19. This is a negative value and a sign of low solvency as FNM would need 20.19 years to pay back of all of its debts.
  • FNM has a Debt to FCF ratio (20.19) which is in line with its industry peers.
  • A Debt/Equity ratio of 2.24 is on the high side and indicates that FNM has dependencies on debt financing.
  • The Debt to Equity ratio of FNM (2.24) is worse than 78.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.24
Debt/FCF 20.19
Altman-Z 1.59
ROIC/WACC7.61
WACC3.85%
FNM.MI Yearly LT Debt VS Equity VS FCFFNM.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

  • FNM has a Current Ratio of 1.03. This is a normal value and indicates that FNM is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.03, FNM is in line with its industry, outperforming 50.00% of the companies in the same industry.
  • A Quick Ratio of 1.01 indicates that FNM should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.01, FNM is in line with its industry, outperforming 50.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.03
Quick Ratio 1.01
FNM.MI Yearly Current Assets VS Current LiabilitesFNM.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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5

3. FNM.MI Growth Analysis

3.1 Past

  • FNM shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.79%.
  • FNM shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.40% yearly.
  • The Revenue has grown by 21.31% in the past year. This is a very strong growth!
  • Measured over the past years, FNM shows a very strong growth in Revenue. The Revenue has been growing by 23.33% on average per year.
EPS 1Y (TTM)-5.79%
EPS 3Y13.21%
EPS 5Y14.4%
EPS Q2Q%38.02%
Revenue 1Y (TTM)21.31%
Revenue growth 3Y15.74%
Revenue growth 5Y23.33%
Sales Q2Q%8.73%

3.2 Future

  • FNM is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -2.34% yearly.
  • FNM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.25% yearly.
EPS Next Y-28.76%
EPS Next 2Y-18.94%
EPS Next 3Y-2.34%
EPS Next 5YN/A
Revenue Next Year7.64%
Revenue Next 2Y6.46%
Revenue Next 3Y6.22%
Revenue Next 5Y5.25%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
FNM.MI Yearly Revenue VS EstimatesFNM.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 200M 400M 600M 800M
FNM.MI Yearly EPS VS EstimatesFNM.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2021 2022 2023 2024 2025 2026 2027 0.05 0.1 0.15

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8

4. FNM.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 1.97, the valuation of FNM can be described as very cheap.
  • FNM's Price/Earnings ratio is rather cheap when compared to the industry. FNM is cheaper than 100.00% of the companies in the same industry.
  • FNM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.11.
  • The Price/Forward Earnings ratio is 4.07, which indicates a rather cheap valuation of FNM.
  • 100.00% of the companies in the same industry are more expensive than FNM, based on the Price/Forward Earnings ratio.
  • When comparing the Price/Forward Earnings ratio of FNM to the average of the S&P500 Index (24.12), we can say FNM is valued rather cheaply.
Industry RankSector Rank
PE 1.97
Fwd PE 4.07
FNM.MI Price Earnings VS Forward Price EarningsFNM.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 100.00% of the companies in the same industry are more expensive than FNM, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, FNM is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 3.79
EV/EBITDA 0.57
FNM.MI Per share dataFNM.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3

4.3 Compensation for Growth

  • The excellent profitability rating of FNM may justify a higher PE ratio.
  • FNM's earnings are expected to decrease with -2.34% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.14
EPS Next 2Y-18.94%
EPS Next 3Y-2.34%

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6

5. FNM.MI Dividend Analysis

5.1 Amount

  • FNM has a Yearly Dividend Yield of 3.82%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 2.41, FNM pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.91, FNM pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.82%

5.2 History

  • On average, the dividend of FNM grows each year by 6.23%, which is quite nice.
Dividend Growth(5Y)6.23%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • FNM pays out 7.67% of its income as dividend. This is a sustainable payout ratio.
DP7.67%
EPS Next 2Y-18.94%
EPS Next 3Y-2.34%
FNM.MI Yearly Income VS Free CF VS DividendFNM.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M
FNM.MI Dividend Payout.FNM.MI Dividend Payout, showing the Payout Ratio.FNM.MI Dividend Payout.PayoutRetained Earnings

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FNM.MI Fundamentals: All Metrics, Ratios and Statistics

FNM SPA

BIT:FNM (3/16/2026, 3:47:37 PM)

0.473

-0.01 (-1.46%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)02-05
Earnings (Next)05-12
Inst Owners6.69%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap205.71M
Revenue(TTM)1.37B
Net Income(TTM)106.17M
Analysts80
Price Target0.71 (50.11%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.82%
Yearly Dividend0.02
Dividend Growth(5Y)6.23%
DP7.67%
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)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)4.47%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)-0.28%
Valuation
Industry RankSector Rank
PE 1.97
Fwd PE 4.07
P/S 0.15
P/FCF 3.79
P/OCF 1.32
P/B 0.5
P/tB 2.34
EV/EBITDA 0.57
EPS(TTM)0.24
EY50.74%
EPS(NY)0.12
Fwd EY24.56%
FCF(TTM)0.12
FCFY26.38%
OCF(TTM)0.36
OCFY75.5%
SpS3.16
BVpS0.94
TBVpS0.2
PEG (NY)N/A
PEG (5Y)0.14
Graham Number2.25
Profitability
Industry RankSector Rank
ROA 4.55%
ROE 26.06%
ROCE 43.04%
ROIC 29.28%
ROICexc 49.11%
ROICexgc 77.19%
OM 42.04%
PM (TTM) 7.73%
GM 96.15%
FCFM 3.95%
ROA(3y)3.25%
ROA(5y)2.8%
ROE(3y)20.91%
ROE(5y)17.55%
ROIC(3y)15.22%
ROIC(5y)12.61%
ROICexc(3y)28.1%
ROICexc(5y)22.66%
ROICexgc(3y)51.45%
ROICexgc(5y)38.36%
ROCE(3y)22.1%
ROCE(5y)18.33%
ROICexgc growth 3Y48.18%
ROICexgc growth 5Y32.59%
ROICexc growth 3Y34.2%
ROICexc growth 5Y16.46%
OM growth 3Y10.39%
OM growth 5Y13.92%
PM growth 3Y-2.18%
PM growth 5Y-7.24%
GM growth 3Y0.1%
GM growth 5Y0.65%
F-Score6
Asset Turnover0.59
Health
Industry RankSector Rank
Debt/Equity 2.24
Debt/FCF 20.19
Debt/EBITDA 1.28
Cap/Depr 75.03%
Cap/Sales 7.36%
Interest Coverage 27.18
Cash Conversion 21.81%
Profit Quality 51.12%
Current Ratio 1.03
Quick Ratio 1.01
Altman-Z 1.59
F-Score6
WACC3.85%
ROIC/WACC7.61
Cap/Depr(3y)71.66%
Cap/Depr(5y)87.58%
Cap/Sales(3y)9.7%
Cap/Sales(5y)11.69%
Profit Quality(3y)143.15%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.79%
EPS 3Y13.21%
EPS 5Y14.4%
EPS Q2Q%38.02%
EPS Next Y-28.76%
EPS Next 2Y-18.94%
EPS Next 3Y-2.34%
EPS Next 5YN/A
Revenue 1Y (TTM)21.31%
Revenue growth 3Y15.74%
Revenue growth 5Y23.33%
Sales Q2Q%8.73%
Revenue Next Year7.64%
Revenue Next 2Y6.46%
Revenue Next 3Y6.22%
Revenue Next 5Y5.25%
EBIT growth 1Y41.4%
EBIT growth 3Y27.77%
EBIT growth 5Y40.5%
EBIT Next Year136.9%
EBIT Next 3Y42.1%
EBIT Next 5Y25.31%
FCF growth 1Y-36.18%
FCF growth 3Y1.34%
FCF growth 5Y22.79%
OCF growth 1Y7.16%
OCF growth 3Y11.59%
OCF growth 5Y19.96%

FNM SPA / FNM.MI Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for FNM SPA?

ChartMill assigns a fundamental rating of 6 / 10 to FNM.MI.


What is the valuation status of FNM SPA (FNM.MI) stock?

ChartMill assigns a valuation rating of 8 / 10 to FNM SPA (FNM.MI). This can be considered as Undervalued.


Can you provide the profitability details for FNM SPA?

FNM SPA (FNM.MI) has a profitability rating of 8 / 10.


What is the financial health of FNM SPA (FNM.MI) stock?

The financial health rating of FNM SPA (FNM.MI) is 3 / 10.


Can you provide the dividend sustainability for FNM stock?

The dividend rating of FNM SPA (FNM.MI) is 6 / 10 and the dividend payout ratio is 7.67%.