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ITALIAN EXHIBITION GROUP SPA (IEG.MI) Stock Fundamental Analysis

BIT:IEG - Euronext Milan - IT0003411417 - Common Stock - Currency: EUR

8.62  +0.16 (+1.89%)

Fundamental Rating

5

Overall IEG gets a fundamental rating of 5 out of 10. We evaluated IEG against 66 industry peers in the Media industry. While IEG belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. IEG has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

IEG had positive earnings in the past year.
In the past year IEG had a positive cash flow from operations.
Of the past 5 years IEG 4 years were profitable.
Of the past 5 years IEG 4 years had a positive operating cash flow.
IEG.MI Yearly Net Income VS EBIT VS OCF VS FCFIEG.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M

1.2 Ratios

The Return On Assets of IEG (13.62%) is better than 95.24% of its industry peers.
IEG has a Return On Equity of 35.02%. This is amongst the best in the industry. IEG outperforms 93.65% of its industry peers.
With an excellent Return On Invested Capital value of 21.79%, IEG belongs to the best of the industry, outperforming 98.41% of the companies in the same industry.
Industry RankSector Rank
ROA 13.62%
ROE 35.02%
ROIC 21.79%
ROA(3y)3.91%
ROA(5y)1.69%
ROE(3y)12.01%
ROE(5y)5.11%
ROIC(3y)N/A
ROIC(5y)N/A
IEG.MI Yearly ROA, ROE, ROICIEG.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

With an excellent Profit Margin value of 13.59%, IEG belongs to the best of the industry, outperforming 90.48% of the companies in the same industry.
IEG's Profit Margin has improved in the last couple of years.
The Operating Margin of IEG (20.82%) is better than 96.83% of its industry peers.
In the last couple of years the Operating Margin of IEG has grown nicely.
IEG's Gross Margin of 46.47% is in line compared to the rest of the industry. IEG outperforms 42.86% of its industry peers.
In the last couple of years the Gross Margin of IEG has remained more or less at the same level.
Industry RankSector Rank
OM 20.82%
PM (TTM) 13.59%
GM 46.47%
OM growth 3Y24.11%
OM growth 5Y6.18%
PM growth 3Y78.2%
PM growth 5Y12.02%
GM growth 3Y15.88%
GM growth 5Y0.99%
IEG.MI Yearly Profit, Operating, Gross MarginsIEG.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), IEG is creating value.
Compared to 1 year ago, IEG has less shares outstanding
Compared to 5 years ago, IEG has less shares outstanding
IEG has a better debt/assets ratio than last year.
IEG.MI Yearly Shares OutstandingIEG.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
IEG.MI Yearly Total Debt VS Total AssetsIEG.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

IEG has an Altman-Z score of 2.38. This is not the best score and indicates that IEG is in the grey zone with still only limited risk for bankruptcy at the moment.
IEG has a better Altman-Z score (2.38) than 82.54% of its industry peers.
IEG has a debt to FCF ratio of 8.11. This is a slightly negative value and a sign of low solvency as IEG would need 8.11 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 8.11, IEG is in line with its industry, outperforming 41.27% of the companies in the same industry.
A Debt/Equity ratio of 0.64 indicates that IEG is somewhat dependend on debt financing.
IEG has a Debt to Equity ratio (0.64) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 8.11
Altman-Z 2.38
ROIC/WACC3.22
WACC6.76%
IEG.MI Yearly LT Debt VS Equity VS FCFIEG.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M

2.3 Liquidity

A Current Ratio of 0.87 indicates that IEG may have some problems paying its short term obligations.
IEG has a worse Current ratio (0.87) than 66.67% of its industry peers.
A Quick Ratio of 0.86 indicates that IEG may have some problems paying its short term obligations.
IEG has a Quick ratio of 0.86. This is in the lower half of the industry: IEG underperforms 60.32% of its industry peers.
Industry RankSector Rank
Current Ratio 0.87
Quick Ratio 0.86
IEG.MI Yearly Current Assets VS Current LiabilitesIEG.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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5

3. Growth

3.1 Past

IEG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 50.18%, which is quite impressive.
The Earnings Per Share has been growing by 20.23% on average over the past years. This is a very strong growth
IEG shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 19.69%.
The Revenue has been growing slightly by 7.11% on average over the past years.
EPS 1Y (TTM)50.18%
EPS 3Y170.14%
EPS 5Y20.23%
EPS Q2Q%-10.13%
Revenue 1Y (TTM)19.69%
Revenue growth 3Y51.12%
Revenue growth 5Y7.11%
Sales Q2Q%15.22%

3.2 Future

Based on estimates for the next years, IEG will show a small growth in Earnings Per Share. The EPS will grow by 2.40% on average per year.
IEG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.23% yearly.
EPS Next Y-3.34%
EPS Next 2Y4.77%
EPS Next 3Y2.4%
EPS Next 5YN/A
Revenue Next Year5.13%
Revenue Next 2Y6.46%
Revenue Next 3Y5.81%
Revenue Next 5Y2.23%

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 decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
IEG.MI Yearly Revenue VS EstimatesIEG.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 50M 100M 150M 200M 250M
IEG.MI Yearly EPS VS EstimatesIEG.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.2 -0.2 0.4 0.6 0.8 1

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6

4. Valuation

4.1 Price/Earnings Ratio

IEG is valuated cheaply with a Price/Earnings ratio of 4.93.
Compared to the rest of the industry, the Price/Earnings ratio of IEG indicates a rather cheap valuation: IEG is cheaper than 93.65% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.41. IEG is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 8.48, the valuation of IEG can be described as very reasonable.
IEG's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. IEG is cheaper than 76.19% of the companies in the same industry.
IEG's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 35.19.
Industry RankSector Rank
PE 4.93
Fwd PE 8.48
IEG.MI Price Earnings VS Forward Price EarningsIEG.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, IEG is valued cheaply inside the industry as 84.13% of the companies are valued more expensively.
IEG's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 17.76
EV/EBITDA 3.24
IEG.MI Per share dataIEG.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

IEG has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.24
EPS Next 2Y4.77%
EPS Next 3Y2.4%

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3

5. Dividend

5.1 Amount

IEG has a Yearly Dividend Yield of 2.32%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 5.29, IEG has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, IEG has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.32%

5.2 History

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

5.3 Sustainability

IEG pays out 8.00% of its income as dividend. This is a sustainable payout ratio.
DP8%
EPS Next 2Y4.77%
EPS Next 3Y2.4%
IEG.MI Yearly Income VS Free CF VS DividendIEG.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M
IEG.MI Dividend Payout.IEG.MI Dividend Payout, showing the Payout Ratio.IEG.MI Dividend Payout.PayoutRetained Earnings

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ITALIAN EXHIBITION GROUP SPA

BIT:IEG (7/10/2025, 4:39:27 PM)

8.62

+0.16 (+1.89%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners14.95%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap266.01M
Analysts82.86
Price Target9.69 (12.41%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.32%
Yearly Dividend0.14
Dividend Growth(5Y)N/A
DP8%
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)13.1%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)8.7%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)4%
Valuation
Industry RankSector Rank
PE 4.93
Fwd PE 8.48
P/S 0.68
P/FCF 17.76
P/OCF 7.3
P/B 1.74
P/tB 2.61
EV/EBITDA 3.24
EPS(TTM)1.75
EY20.3%
EPS(NY)1.02
Fwd EY11.8%
FCF(TTM)0.49
FCFY5.63%
OCF(TTM)1.18
OCFY13.7%
SpS12.74
BVpS4.95
TBVpS3.3
PEG (NY)N/A
PEG (5Y)0.24
Profitability
Industry RankSector Rank
ROA 13.62%
ROE 35.02%
ROCE 30.28%
ROIC 21.79%
ROICexc 28.2%
ROICexgc 37.27%
OM 20.82%
PM (TTM) 13.59%
GM 46.47%
FCFM 3.81%
ROA(3y)3.91%
ROA(5y)1.69%
ROE(3y)12.01%
ROE(5y)5.11%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y90.75%
ROICexcg growth 5Y17.75%
ROICexc growth 3Y85.18%
ROICexc growth 5Y15.44%
OM growth 3Y24.11%
OM growth 5Y6.18%
PM growth 3Y78.2%
PM growth 5Y12.02%
GM growth 3Y15.88%
GM growth 5Y0.99%
F-Score6
Asset Turnover1
Health
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 8.11
Debt/EBITDA 0.97
Cap/Depr 115.62%
Cap/Sales 5.46%
Interest Coverage 250
Cash Conversion 36.29%
Profit Quality 28.02%
Current Ratio 0.87
Quick Ratio 0.86
Altman-Z 2.38
F-Score6
WACC6.76%
ROIC/WACC3.22
Cap/Depr(3y)71.6%
Cap/Depr(5y)52.5%
Cap/Sales(3y)5.64%
Cap/Sales(5y)5.81%
Profit Quality(3y)1249.2%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)50.18%
EPS 3Y170.14%
EPS 5Y20.23%
EPS Q2Q%-10.13%
EPS Next Y-3.34%
EPS Next 2Y4.77%
EPS Next 3Y2.4%
EPS Next 5YN/A
Revenue 1Y (TTM)19.69%
Revenue growth 3Y51.12%
Revenue growth 5Y7.11%
Sales Q2Q%15.22%
Revenue Next Year5.13%
Revenue Next 2Y6.46%
Revenue Next 3Y5.81%
Revenue Next 5Y2.23%
EBIT growth 1Y52.47%
EBIT growth 3Y87.55%
EBIT growth 5Y13.74%
EBIT Next Year52.75%
EBIT Next 3Y20.68%
EBIT Next 5Y6.29%
FCF growth 1Y-53.64%
FCF growth 3Y-0.85%
FCF growth 5Y51.4%
OCF growth 1Y-2.97%
OCF growth 3Y13.75%
OCF growth 5Y18.5%