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GENERALFINANCE SPA (GF.MI) Stock Fundamental Analysis

BIT:GF - Euronext Milan - IT0005144784 - Common Stock - Currency: EUR

15.1  +0.05 (+0.33%)

Fundamental Rating

7

Overall GF gets a fundamental rating of 7 out of 10. We evaluated GF against 50 industry peers in the Financial Services industry. GF has an excellent profitability rating, but there are some minor concerns on its financial health. GF is growing strongly while it also seems undervalued. This is an interesting combination GF also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year GF was profitable.
GF had a positive operating cash flow in the past year.
Each year in the past 5 years GF has been profitable.
The reported operating cash flow has been mixed in the past 5 years: GF reported negative operating cash flow in multiple years.
GF.MI Yearly Net Income VS EBIT VS OCF VS FCFGF.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M 80M 100M

1.2 Ratios

GF has a Return On Assets of 4.71%. This is in the better half of the industry: GF outperforms 66.00% of its industry peers.
GF has a better Return On Equity (37.43%) than 84.00% of its industry peers.
GF has a Return On Invested Capital (4.88%) which is in line with its industry peers.
GF had an Average Return On Invested Capital over the past 3 years of 3.03%. This is significantly below the industry average of 11.59%.
The 3 year average ROIC (3.03%) for GF is below the current ROIC(4.88%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.71%
ROE 37.43%
ROIC 4.88%
ROA(3y)2.74%
ROA(5y)2.67%
ROE(3y)22.73%
ROE(5y)24.28%
ROIC(3y)3.03%
ROIC(5y)2.96%
GF.MI Yearly ROA, ROE, ROICGF.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

1.3 Margins

GF has a Profit Margin of 38.58%. This is in the better half of the industry: GF outperforms 74.00% of its industry peers.
GF's Profit Margin has improved in the last couple of years.
With an excellent Operating Margin value of 57.99%, GF belongs to the best of the industry, outperforming 82.00% of the companies in the same industry.
In the last couple of years the Operating Margin of GF has grown nicely.
The Gross Margin of GF (90.85%) is better than 90.00% of its industry peers.
In the last couple of years the Gross Margin of GF has remained more or less at the same level.
Industry RankSector Rank
OM 57.99%
PM (TTM) 38.58%
GM 90.85%
OM growth 3Y4.07%
OM growth 5Y5.84%
PM growth 3Y4.03%
PM growth 5Y7.12%
GM growth 3Y0.97%
GM growth 5Y0.16%
GF.MI Yearly Profit, Operating, Gross MarginsGF.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GF is destroying value.
The number of shares outstanding for GF remains at a similar level compared to 1 year ago.
Compared to 5 years ago, GF has about the same amount of shares outstanding.
Compared to 1 year ago, GF has a worse debt to assets ratio.
GF.MI Yearly Shares OutstandingGF.MI Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
GF.MI Yearly Total Debt VS Total AssetsGF.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

GF has an Altman-Z score of 0.84. This is a bad value and indicates that GF is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.84, GF is not doing good in the industry: 64.00% of the companies in the same industry are doing better.
GF has a debt to FCF ratio of 20.16. This is a negative value and a sign of low solvency as GF would need 20.16 years to pay back of all of its debts.
GF's Debt to FCF ratio of 20.16 is on the low side compared to the rest of the industry. GF is outperformed by 66.00% of its industry peers.
GF has a Debt/Equity ratio of 3.46. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 3.46, GF is not doing good in the industry: 82.00% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 3.46
Debt/FCF 20.16
Altman-Z 0.84
ROIC/WACC0.75
WACC6.51%
GF.MI Yearly LT Debt VS Equity VS FCFGF.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M

2.3 Liquidity

A Current Ratio of 8.75 indicates that GF has no problem at all paying its short term obligations.
With an excellent Current ratio value of 8.75, GF belongs to the best of the industry, outperforming 92.00% of the companies in the same industry.
GF has a Quick Ratio of 8.75. This indicates that GF is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 8.75, GF belongs to the top of the industry, outperforming 92.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 8.75
Quick Ratio 8.75
GF.MI Yearly Current Assets VS Current LiabilitesGF.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

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8

3. Growth

3.1 Past

GF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 33.73%, which is quite impressive.
The Earnings Per Share has been growing by 38.19% on average over the past years. This is a very strong growth
GF shows a strong growth in Revenue. In the last year, the Revenue has grown by 32.64%.
GF shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 29.00% yearly.
EPS 1Y (TTM)33.73%
EPS 3Y30.68%
EPS 5Y38.19%
EPS Q2Q%8.37%
Revenue 1Y (TTM)32.64%
Revenue growth 3Y25.63%
Revenue growth 5Y29%
Sales Q2Q%41.4%

3.2 Future

GF is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.88% yearly.
Based on estimates for the next years, GF will show a quite strong growth in Revenue. The Revenue will grow by 18.98% on average per year.
EPS Next Y13.12%
EPS Next 2Y13.19%
EPS Next 3Y15.88%
EPS Next 5YN/A
Revenue Next Year17.03%
Revenue Next 2Y18.91%
Revenue Next 3Y18.98%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
GF.MI Yearly Revenue VS EstimatesGF.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M 80M
GF.MI Yearly EPS VS EstimatesGF.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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8

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 5.97, the valuation of GF can be described as very cheap.
Based on the Price/Earnings ratio, GF is valued cheaper than 86.00% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.34. GF is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 7.15, which indicates a rather cheap valuation of GF.
Based on the Price/Forward Earnings ratio, GF is valued cheaper than 84.00% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of GF to the average of the S&P500 Index (21.03), we can say GF is valued rather cheaply.
Industry RankSector Rank
PE 5.97
Fwd PE 7.15
GF.MI Price Earnings VS Forward Price EarningsGF.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, GF is valued a bit cheaper than the industry average as 68.00% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of GF indicates a somewhat cheap valuation: GF is cheaper than 64.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 13.02
EV/EBITDA 7.49
GF.MI Per share dataGF.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

GF's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
GF has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as GF's earnings are expected to grow with 15.88% in the coming years.
PEG (NY)0.45
PEG (5Y)0.16
EPS Next 2Y13.19%
EPS Next 3Y15.88%

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7

5. Dividend

5.1 Amount

GF has a Yearly Dividend Yield of 5.51%, which is a nice return.
GF's Dividend Yield is rather good when compared to the industry average which is at 3.82. GF pays more dividend than 90.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.44, GF pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.51%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

GF pays out 23.31% of its income as dividend. This is a sustainable payout ratio.
DP23.31%
EPS Next 2Y13.19%
EPS Next 3Y15.88%
GF.MI Yearly Income VS Free CF VS DividendGF.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M 80M 100M
GF.MI Dividend Payout.GF.MI Dividend Payout, showing the Payout Ratio.GF.MI Dividend Payout.PayoutRetained Earnings

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GENERALFINANCE SPA

BIT:GF (6/20/2025, 7:00:00 PM)

15.1

+0.05 (+0.33%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners15.61%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap190.86M
Analysts86
Price Target18.21 (20.6%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.51%
Yearly Dividend0.59
Dividend Growth(5Y)N/A
DP23.31%
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)5.93%
PT rev (3m)28.42%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-2.16%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-7.71%
Valuation
Industry RankSector Rank
PE 5.97
Fwd PE 7.15
P/S 2.3
P/FCF 13.02
P/OCF 10.71
P/B 2.23
P/tB 2.32
EV/EBITDA 7.49
EPS(TTM)2.53
EY16.75%
EPS(NY)2.11
Fwd EY13.98%
FCF(TTM)1.16
FCFY7.68%
OCF(TTM)1.41
OCFY9.34%
SpS6.56
BVpS6.76
TBVpS6.5
PEG (NY)0.45
PEG (5Y)0.16
Profitability
Industry RankSector Rank
ROA 4.71%
ROE 37.43%
ROCE 7.21%
ROIC 4.88%
ROICexc 5.88%
ROICexgc 6%
OM 57.99%
PM (TTM) 38.58%
GM 90.85%
FCFM 17.69%
ROA(3y)2.74%
ROA(5y)2.67%
ROE(3y)22.73%
ROE(5y)24.28%
ROIC(3y)3.03%
ROIC(5y)2.96%
ROICexc(3y)3.39%
ROICexc(5y)3.24%
ROICexgc(3y)3.42%
ROICexgc(5y)3.26%
ROCE(3y)4.48%
ROCE(5y)4.38%
ROICexcg growth 3Y6.06%
ROICexcg growth 5Y3.94%
ROICexc growth 3Y5.85%
ROICexc growth 5Y3.87%
OM growth 3Y4.07%
OM growth 5Y5.84%
PM growth 3Y4.03%
PM growth 5Y7.12%
GM growth 3Y0.97%
GM growth 5Y0.16%
F-Score4
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 3.46
Debt/FCF 20.16
Debt/EBITDA 5.94
Cap/Depr 185.31%
Cap/Sales 3.81%
Interest Coverage 250
Cash Conversion 35.8%
Profit Quality 45.85%
Current Ratio 8.75
Quick Ratio 8.75
Altman-Z 0.84
F-Score4
WACC6.51%
ROIC/WACC0.75
Cap/Depr(3y)128.37%
Cap/Depr(5y)131.84%
Cap/Sales(3y)3.9%
Cap/Sales(5y)4.49%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)33.73%
EPS 3Y30.68%
EPS 5Y38.19%
EPS Q2Q%8.37%
EPS Next Y13.12%
EPS Next 2Y13.19%
EPS Next 3Y15.88%
EPS Next 5YN/A
Revenue 1Y (TTM)32.64%
Revenue growth 3Y25.63%
Revenue growth 5Y29%
Sales Q2Q%41.4%
Revenue Next Year17.03%
Revenue Next 2Y18.91%
Revenue Next 3Y18.98%
Revenue Next 5YN/A
EBIT growth 1Y31.68%
EBIT growth 3Y30.75%
EBIT growth 5Y36.54%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y749.98%
FCF growth 3Y125.88%
FCF growth 5Y49.06%
OCF growth 1Y814.31%
OCF growth 3Y116.86%
OCF growth 5Y48.62%