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IVECO GROUP NV (IVG.MI) Stock Fundamental Analysis

BIT:IVG - Euronext Milan - NL0015000LU4 - Common Stock - Currency: EUR

15.965  -0.44 (-2.68%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to IVG. IVG was compared to 110 industry peers in the Machinery industry. IVG has an average financial health and profitability rating. IVG has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year IVG was profitable.
IVG had a positive operating cash flow in the past year.
IVG had positive earnings in 4 of the past 5 years.
IVG had a positive operating cash flow in each of the past 5 years.
IVG.MI Yearly Net Income VS EBIT VS OCF VS FCFIVG.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

1.2 Ratios

Looking at the Return On Assets, with a value of 1.80%, IVG is in line with its industry, outperforming 42.73% of the companies in the same industry.
The Return On Equity of IVG (12.93%) is better than 79.09% of its industry peers.
IVG has a Return On Invested Capital (5.25%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for IVG is below the industry average of 8.59%.
The last Return On Invested Capital (5.25%) for IVG is above the 3 year average (3.91%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 1.8%
ROE 12.93%
ROIC 5.25%
ROA(3y)1.3%
ROA(5y)0.32%
ROE(3y)9.48%
ROE(5y)2.54%
ROIC(3y)3.91%
ROIC(5y)N/A
IVG.MI Yearly ROA, ROE, ROICIVG.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 10 -10

1.3 Margins

IVG has a Profit Margin of 2.28%. This is comparable to the rest of the industry: IVG outperforms 44.55% of its industry peers.
IVG's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 6.14%, IVG is in line with its industry, outperforming 52.73% of the companies in the same industry.
IVG's Operating Margin has improved in the last couple of years.
IVG has a Gross Margin of 17.35%. This is amonst the worse of the industry: IVG underperforms 88.18% of its industry peers.
In the last couple of years the Gross Margin of IVG has grown nicely.
Industry RankSector Rank
OM 6.14%
PM (TTM) 2.28%
GM 17.35%
OM growth 3Y29.77%
OM growth 5Y9.99%
PM growth 3Y77.09%
PM growth 5Y26.56%
GM growth 3Y7.43%
GM growth 5Y4.66%
IVG.MI Yearly Profit, Operating, Gross MarginsIVG.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

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4

2. Health

2.1 Basic Checks

IVG has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for IVG has been reduced compared to 1 year ago.
IVG has more shares outstanding than it did 5 years ago.
IVG has a better debt/assets ratio than last year.
IVG.MI Yearly Shares OutstandingIVG.MI Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
IVG.MI Yearly Total Debt VS Total AssetsIVG.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

Based on the Altman-Z score of 1.78, we must say that IVG is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of IVG (1.78) is comparable to the rest of the industry.
The Debt to FCF ratio of IVG is 45.37, which is on the high side as it means it would take IVG, 45.37 years of fcf income to pay off all of its debts.
IVG has a worse Debt to FCF ratio (45.37) than 67.27% of its industry peers.
IVG has a Debt/Equity ratio of 1.47. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of IVG (1.47) is worse than 84.55% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF 45.37
Altman-Z 1.78
ROIC/WACC0.66
WACC7.91%
IVG.MI Yearly LT Debt VS Equity VS FCFIVG.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B 5B

2.3 Liquidity

IVG has a Current Ratio of 2.16. This indicates that IVG is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of IVG (2.16) is better than 78.18% of its industry peers.
A Quick Ratio of 1.67 indicates that IVG should not have too much problems paying its short term obligations.
The Quick ratio of IVG (1.67) is better than 82.73% of its industry peers.
Industry RankSector Rank
Current Ratio 2.16
Quick Ratio 1.67
IVG.MI Yearly Current Assets VS Current LiabilitesIVG.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 13.75% over the past year.
IVG shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 32.82% yearly.
The Revenue has decreased by -7.62% in the past year.
IVG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.06% yearly.
EPS 1Y (TTM)13.75%
EPS 3Y88.31%
EPS 5Y32.82%
EPS Q2Q%-45.61%
Revenue 1Y (TTM)-7.62%
Revenue growth 3Y6.52%
Revenue growth 5Y5.06%
Sales Q2Q%-10.13%

3.2 Future

IVG is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.94% yearly.
Based on estimates for the next years, IVG will show a small growth in Revenue. The Revenue will grow by 2.22% on average per year.
EPS Next Y-3.69%
EPS Next 2Y7.38%
EPS Next 3Y10.65%
EPS Next 5Y11.94%
Revenue Next Year0.01%
Revenue Next 2Y2.78%
Revenue Next 3Y4.04%
Revenue Next 5Y2.22%

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 Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
IVG.MI Yearly Revenue VS EstimatesIVG.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 5B 10B 15B
IVG.MI Yearly EPS VS EstimatesIVG.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 8.77, the valuation of IVG can be described as reasonable.
88.18% of the companies in the same industry are more expensive than IVG, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 26.31. IVG is valued rather cheaply when compared to this.
IVG is valuated cheaply with a Price/Forward Earnings ratio of 6.66.
IVG's Price/Forward Earnings ratio is rather cheap when compared to the industry. IVG is cheaper than 93.64% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.13. IVG is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 8.77
Fwd PE 6.66
IVG.MI Price Earnings VS Forward Price EarningsIVG.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, IVG is valued cheaply inside the industry as 83.64% of the companies are valued more expensively.
The rest of the industry has a similar Price/Free Cash Flow ratio as IVG.
Industry RankSector Rank
P/FCF 31.15
EV/EBITDA 4.52
IVG.MI Per share dataIVG.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

The decent profitability rating of IVG may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.27
EPS Next 2Y7.38%
EPS Next 3Y10.65%

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4

5. Dividend

5.1 Amount

IVG has a Yearly Dividend Yield of 1.92%. Purely for dividend investing, there may be better candidates out there.
IVG's Dividend Yield is a higher than the industry average which is at 2.75.
IVG's Dividend Yield is comparable with the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 1.92%

5.2 History

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

5.3 Sustainability

IVG pays out 26.07% of its income as dividend. This is a sustainable payout ratio.
DP26.07%
EPS Next 2Y7.38%
EPS Next 3Y10.65%
IVG.MI Yearly Income VS Free CF VS DividendIVG.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M
IVG.MI Dividend Payout.IVG.MI Dividend Payout, showing the Payout Ratio.IVG.MI Dividend Payout.PayoutRetained Earnings

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IVECO GROUP NV

BIT:IVG (6/13/2025, 7:00:00 PM)

15.965

-0.44 (-2.68%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)05-15 2025-05-15/bmo
Earnings (Next)07-30 2025-07-30
Inst OwnersN/A
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap4.33B
Analysts76
Price Target17.75 (11.18%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.92%
Yearly Dividend0.27
Dividend Growth(5Y)N/A
DP26.07%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)35.4%
Min EPS beat(2)7.26%
Max EPS beat(2)63.53%
EPS beat(4)4
Avg EPS beat(4)60.23%
Min EPS beat(4)7.26%
Max EPS beat(4)122.78%
EPS beat(8)5
Avg EPS beat(8)13.96%
EPS beat(12)7
Avg EPS beat(12)6.86%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)5.11%
Min Revenue beat(2)0.94%
Max Revenue beat(2)9.28%
Revenue beat(4)3
Avg Revenue beat(4)1.33%
Min Revenue beat(4)-6.08%
Max Revenue beat(4)9.28%
Revenue beat(8)4
Avg Revenue beat(8)0.27%
Revenue beat(12)8
Avg Revenue beat(12)3.46%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)6.89%
PT rev (3m)6.1%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-6.45%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.11%
Revenue NQ rev (1m)-6.71%
Revenue NQ rev (3m)-0.91%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.75%
Valuation
Industry RankSector Rank
PE 8.77
Fwd PE 6.66
P/S 0.28
P/FCF 31.15
P/OCF 3.98
P/B 1.6
P/tB 6.56
EV/EBITDA 4.52
EPS(TTM)1.82
EY11.4%
EPS(NY)2.4
Fwd EY15.02%
FCF(TTM)0.51
FCFY3.21%
OCF(TTM)4.02
OCFY25.15%
SpS56.37
BVpS9.95
TBVpS2.43
PEG (NY)N/A
PEG (5Y)0.27
Profitability
Industry RankSector Rank
ROA 1.8%
ROE 12.93%
ROCE 6.94%
ROIC 5.25%
ROICexc 7.02%
ROICexgc 8.78%
OM 6.14%
PM (TTM) 2.28%
GM 17.35%
FCFM 0.91%
ROA(3y)1.3%
ROA(5y)0.32%
ROE(3y)9.48%
ROE(5y)2.54%
ROIC(3y)3.91%
ROIC(5y)N/A
ROICexc(3y)4.85%
ROICexc(5y)N/A
ROICexgc(3y)5.77%
ROICexgc(5y)N/A
ROCE(3y)5.17%
ROCE(5y)N/A
ROICexcg growth 3Y26.65%
ROICexcg growth 5Y12.05%
ROICexc growth 3Y25.45%
ROICexc growth 5Y11.07%
OM growth 3Y29.77%
OM growth 5Y9.99%
PM growth 3Y77.09%
PM growth 5Y26.56%
GM growth 3Y7.43%
GM growth 5Y4.66%
F-Score7
Asset Turnover0.79
Health
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF 45.37
Debt/EBITDA 2.45
Cap/Depr 140.12%
Cap/Sales 6.21%
Interest Coverage 250
Cash Conversion 67.35%
Profit Quality 39.83%
Current Ratio 2.16
Quick Ratio 1.67
Altman-Z 1.78
F-Score7
WACC7.91%
ROIC/WACC0.66
Cap/Depr(3y)146.94%
Cap/Depr(5y)121.88%
Cap/Sales(3y)5.9%
Cap/Sales(5y)5.2%
Profit Quality(3y)212.1%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)13.75%
EPS 3Y88.31%
EPS 5Y32.82%
EPS Q2Q%-45.61%
EPS Next Y-3.69%
EPS Next 2Y7.38%
EPS Next 3Y10.65%
EPS Next 5Y11.94%
Revenue 1Y (TTM)-7.62%
Revenue growth 3Y6.52%
Revenue growth 5Y5.06%
Sales Q2Q%-10.13%
Revenue Next Year0.01%
Revenue Next 2Y2.78%
Revenue Next 3Y4.04%
Revenue Next 5Y2.22%
EBIT growth 1Y4.22%
EBIT growth 3Y38.23%
EBIT growth 5Y15.55%
EBIT Next Year76.38%
EBIT Next 3Y30.18%
EBIT Next 5YN/A
FCF growth 1Y-62.02%
FCF growth 3YN/A
FCF growth 5Y-8.52%
OCF growth 1Y-18.49%
OCF growth 3Y26.42%
OCF growth 5Y8.96%