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INDEL B SPA (INDB.MI) Stock Fundamental Analysis

BIT:INDB - Euronext Milan - IT0005245508 - Common Stock - Currency: EUR

19.65  +0.15 (+0.77%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to INDB. INDB was compared to 30 industry peers in the Household Durables industry. Both the profitability and the financial health of INDB get a neutral evaluation. Nothing too spectacular is happening here. INDB has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

INDB had positive earnings in the past year.
INDB had a positive operating cash flow in the past year.
Each year in the past 5 years INDB has been profitable.
Of the past 5 years INDB 4 years had a positive operating cash flow.
INDB.MI Yearly Net Income VS EBIT VS OCF VS FCFINDB.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 10M -10M 20M 30M

1.2 Ratios

INDB has a Return On Assets of 5.23%. This is in the better half of the industry: INDB outperforms 76.67% of its industry peers.
INDB has a Return On Equity of 8.61%. This is comparable to the rest of the industry: INDB outperforms 60.00% of its industry peers.
INDB has a Return On Invested Capital (6.79%) which is in line with its industry peers.
INDB had an Average Return On Invested Capital over the past 3 years of 7.68%. This is significantly below the industry average of 15.82%.
Industry RankSector Rank
ROA 5.23%
ROE 8.61%
ROIC 6.79%
ROA(3y)5.09%
ROA(5y)6.04%
ROE(3y)8.94%
ROE(5y)10.97%
ROIC(3y)7.68%
ROIC(5y)7.55%
INDB.MI Yearly ROA, ROE, ROICINDB.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

INDB has a better Profit Margin (5.34%) than 70.00% of its industry peers.
INDB's Profit Margin has declined in the last couple of years.
INDB has a Operating Margin (6.74%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of INDB has declined.
INDB has a Gross Margin of 42.99%. This is comparable to the rest of the industry: INDB outperforms 60.00% of its industry peers.
In the last couple of years the Gross Margin of INDB has remained more or less at the same level.
Industry RankSector Rank
OM 6.74%
PM (TTM) 5.34%
GM 42.99%
OM growth 3Y-8.77%
OM growth 5Y-9.46%
PM growth 3Y-25.75%
PM growth 5Y-12.36%
GM growth 3Y-2.24%
GM growth 5Y0.07%
INDB.MI Yearly Profit, Operating, Gross MarginsINDB.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so INDB is still creating some value.
The number of shares outstanding for INDB has been reduced compared to 1 year ago.
Compared to 5 years ago, INDB has less shares outstanding
The debt/assets ratio for INDB has been reduced compared to a year ago.
INDB.MI Yearly Shares OutstandingINDB.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1M 2M 3M 4M 5M
INDB.MI Yearly Total Debt VS Total AssetsINDB.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

2.2 Solvency

An Altman-Z score of 2.49 indicates that INDB is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.49, INDB is doing good in the industry, outperforming 63.33% of the companies in the same industry.
INDB has a debt to FCF ratio of 3.11. This is a good value and a sign of high solvency as INDB would need 3.11 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 3.11, INDB is doing good in the industry, outperforming 76.67% of the companies in the same industry.
A Debt/Equity ratio of 0.09 indicates that INDB is not too dependend on debt financing.
INDB's Debt to Equity ratio of 0.09 is amongst the best of the industry. INDB outperforms 90.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 3.11
Altman-Z 2.49
ROIC/WACC0.99
WACC6.87%
INDB.MI Yearly LT Debt VS Equity VS FCFINDB.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 20M 40M 60M 80M 100M

2.3 Liquidity

A Current Ratio of 1.97 indicates that INDB should not have too much problems paying its short term obligations.
The Current ratio of INDB (1.97) is better than 66.67% of its industry peers.
INDB has a Quick Ratio of 1.97. This is a bad value and indicates that INDB is not financially healthy enough and could expect problems in meeting its short term obligations.
INDB has a Quick ratio (0.92) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.97
Quick Ratio 0.92
INDB.MI Yearly Current Assets VS Current LiabilitesINDB.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M

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3

3. Growth

3.1 Past

INDB shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.59%.
The Earnings Per Share has been decreasing by -6.26% on average over the past years.
Looking at the last year, INDB shows a decrease in Revenue. The Revenue has decreased by -9.76% in the last year.
INDB shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.55% yearly.
EPS 1Y (TTM)5.59%
EPS 3Y-22.76%
EPS 5Y-6.26%
EPS Q2Q%114.82%
Revenue 1Y (TTM)-9.76%
Revenue growth 3Y2.41%
Revenue growth 5Y5.55%
Sales Q2Q%-9.5%

3.2 Future

The Earnings Per Share is expected to grow by 3.28% on average over the next years.
The Revenue is expected to grow by 2.08% on average over the next years.
EPS Next Y-20.44%
EPS Next 2Y3.28%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-1.33%
Revenue Next 2Y1.91%
Revenue Next 3Y2.08%
Revenue Next 5YN/A

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 decreasing.
INDB.MI Yearly Revenue VS EstimatesINDB.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M 200M
INDB.MI Yearly EPS VS EstimatesINDB.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

INDB is valuated reasonably with a Price/Earnings ratio of 10.03.
Based on the Price/Earnings ratio, INDB is valued a bit cheaper than the industry average as 63.33% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.15. INDB is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 10.76, the valuation of INDB can be described as very reasonable.
Based on the Price/Forward Earnings ratio, INDB is valued a bit more expensive than 60.00% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.60. INDB is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.03
Fwd PE 10.76
INDB.MI Price Earnings VS Forward Price EarningsINDB.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

INDB's Enterprise Value to EBITDA ratio is in line with the industry average.
INDB's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 13.43
EV/EBITDA 6.44
INDB.MI Per share dataINDB.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y3.28%
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.05%, INDB is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.71, INDB pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.42, INDB pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.05%

5.2 History

The dividend of INDB has a limited annual growth rate of 4.11%.
Dividend Growth(5Y)4.11%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

INDB pays out 43.40% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of INDB is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP43.4%
EPS Next 2Y3.28%
EPS Next 3YN/A
INDB.MI Yearly Income VS Free CF VS DividendINDB.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 10M -10M 20M
INDB.MI Dividend Payout.INDB.MI Dividend Payout, showing the Payout Ratio.INDB.MI Dividend Payout.PayoutRetained Earnings

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INDEL B SPA

BIT:INDB (6/23/2025, 12:38:24 PM)

19.65

+0.15 (+0.77%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryHousehold Durables
Earnings (Last)05-14 2025-05-14
Earnings (Next)09-16 2025-09-16
Inst Owners11.64%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap114.76M
Analysts42.22
Price Target25.5 (29.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.05%
Yearly Dividend0.85
Dividend Growth(5Y)4.11%
DP43.4%
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)4.17%
PT rev (3m)4.17%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-34.43%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 10.03
Fwd PE 10.76
P/S 0.58
P/FCF 13.43
P/OCF 6.64
P/B 0.93
P/tB 1.08
EV/EBITDA 6.44
EPS(TTM)1.96
EY9.97%
EPS(NY)1.83
Fwd EY9.29%
FCF(TTM)1.46
FCFY7.45%
OCF(TTM)2.96
OCFY15.07%
SpS34.17
BVpS21.19
TBVpS18.27
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 5.23%
ROE 8.61%
ROCE 9.44%
ROIC 6.79%
ROICexc 7.66%
ROICexgc 8.85%
OM 6.74%
PM (TTM) 5.34%
GM 42.99%
FCFM 4.28%
ROA(3y)5.09%
ROA(5y)6.04%
ROE(3y)8.94%
ROE(5y)10.97%
ROIC(3y)7.68%
ROIC(5y)7.55%
ROICexc(3y)9.07%
ROICexc(5y)9.38%
ROICexgc(3y)10.58%
ROICexgc(5y)11.18%
ROCE(3y)10.7%
ROCE(5y)10.5%
ROICexcg growth 3Y-10.76%
ROICexcg growth 5Y-10.12%
ROICexc growth 3Y-9.04%
ROICexc growth 5Y-9.21%
OM growth 3Y-8.77%
OM growth 5Y-9.46%
PM growth 3Y-25.75%
PM growth 5Y-12.36%
GM growth 3Y-2.24%
GM growth 5Y0.07%
F-Score7
Asset Turnover0.98
Health
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 3.11
Debt/EBITDA 0.56
Cap/Depr 148.68%
Cap/Sales 4.38%
Interest Coverage 13.09
Cash Conversion 89.46%
Profit Quality 80.18%
Current Ratio 1.97
Quick Ratio 0.92
Altman-Z 2.49
F-Score7
WACC6.87%
ROIC/WACC0.99
Cap/Depr(3y)130.37%
Cap/Depr(5y)133.09%
Cap/Sales(3y)3.54%
Cap/Sales(5y)3.91%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)5.59%
EPS 3Y-22.76%
EPS 5Y-6.26%
EPS Q2Q%114.82%
EPS Next Y-20.44%
EPS Next 2Y3.28%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-9.76%
Revenue growth 3Y2.41%
Revenue growth 5Y5.55%
Sales Q2Q%-9.5%
Revenue Next Year-1.33%
Revenue Next 2Y1.91%
Revenue Next 3Y2.08%
Revenue Next 5YN/A
EBIT growth 1Y-16.48%
EBIT growth 3Y-6.57%
EBIT growth 5Y-4.44%
EBIT Next Year25.15%
EBIT Next 3Y17.08%
EBIT Next 5YN/A
FCF growth 1Y-65.56%
FCF growth 3YN/A
FCF growth 5Y2.06%
OCF growth 1Y-48.25%
OCF growth 3Y45.93%
OCF growth 5Y1.35%