PIAGGIO & C. S.P.A. (PIA.MI) Stock Fundamental Analysis
BIT:PIA - Euronext Milan - IT0003073266 - Common Stock - Currency: EUR
PIA gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 28 industry peers in the Automobiles industry. PIA has an excellent profitability rating, but there are concerns on its financial health. PIA has a correct valuation and a medium growth rate. Finally PIA also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
PIA had positive earnings in the past year.
PIA had a positive operating cash flow in the past year.
PIA had positive earnings in each of the past 5 years.
PIA had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
PIA has a Return On Assets of 2.88%. This is in the better half of the industry: PIA outperforms 71.43% of its industry peers.
The Return On Equity of PIA (13.65%) is better than 85.71% of its industry peers.
PIA's Return On Invested Capital of 7.71% is amongst the best of the industry. PIA outperforms 82.14% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for PIA is above the industry average of 6.37%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.88% | ||
| ROE | 13.65% | ||
| ROIC | 7.71% |
ROA(3y)4.26%
ROA(5y)3.59%
ROE(3y)19.42%
ROE(5y)16.31%
ROIC(3y)10.61%
ROIC(5y)8.94%
1.3 Margins
PIA's Profit Margin of 3.48% is in line compared to the rest of the industry. PIA outperforms 46.43% of its industry peers.
PIA's Profit Margin has improved in the last couple of years.
The Operating Margin of PIA (7.96%) is better than 82.14% of its industry peers.
PIA's Operating Margin has improved in the last couple of years.
PIA has a Gross Margin of 37.59%. This is amongst the best in the industry. PIA outperforms 85.71% of its industry peers.
PIA's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.96% | ||
| PM (TTM) | 3.48% | ||
| GM | 37.59% |
OM growth 3Y8.22%
OM growth 5Y3.57%
PM growth 3Y3.16%
PM growth 5Y5.16%
GM growth 3Y1.33%
GM growth 5Y-0.36%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), PIA is creating some value.
PIA has about the same amout of shares outstanding than it did 1 year ago.
PIA has less shares outstanding than it did 5 years ago.
PIA has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.34, we must say that PIA is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.34, PIA is in line with its industry, outperforming 50.00% of the companies in the same industry.
PIA has a Debt/Equity ratio of 1.60. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of PIA (1.60) is worse than 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.6 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.34 |
ROIC/WACC1.05
WACC7.35%
2.3 Liquidity
PIA has a Current Ratio of 0.81. This is a bad value and indicates that PIA is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.81, PIA is doing worse than 89.29% of the companies in the same industry.
PIA has a Quick Ratio of 0.81. This is a bad value and indicates that PIA is not financially healthy enough and could expect problems in meeting its short term obligations.
PIA's Quick ratio of 0.40 is on the low side compared to the rest of the industry. PIA is outperformed by 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
PIA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -33.03%.
The Earnings Per Share has been growing slightly by 7.71% on average over the past years.
PIA shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -12.36%.
PIA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.26% yearly.
EPS 1Y (TTM)-33.03%
EPS 3Y4.11%
EPS 5Y7.71%
EPS Q2Q%-53.13%
Revenue 1Y (TTM)-12.36%
Revenue growth 3Y0.65%
Revenue growth 5Y2.26%
Sales Q2Q%-13.41%
3.2 Future
The Earnings Per Share is expected to grow by 12.62% on average over the next years. This is quite good.
Based on estimates for the next years, PIA will show a small growth in Revenue. The Revenue will grow by 7.13% on average per year.
EPS Next Y8.5%
EPS Next 2Y10.99%
EPS Next 3Y12.62%
EPS Next 5YN/A
Revenue Next Year-2.34%
Revenue Next 2Y0.81%
Revenue Next 3Y1.99%
Revenue Next 5Y7.13%
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 accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 11.92 indicates a reasonable valuation of PIA.
Compared to the rest of the industry, the Price/Earnings ratio of PIA indicates a slightly more expensive valuation: PIA is more expensive than 60.71% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of PIA to the average of the S&P500 Index (27.50), we can say PIA is valued rather cheaply.
PIA is valuated reasonably with a Price/Forward Earnings ratio of 8.14.
Based on the Price/Forward Earnings ratio, PIA is valued a bit more expensive than 60.71% of the companies in the same industry.
PIA's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.93 | ||
| Fwd PE | 8.14 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, PIA is valued a bit cheaper than 60.71% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.25 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PIA has an outstanding profitability rating, which may justify a higher PE ratio.
PIA's earnings are expected to grow with 12.62% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.4
PEG (5Y)1.55
EPS Next 2Y10.99%
EPS Next 3Y12.62%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 8.09%, PIA is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.24, PIA pays a better dividend. On top of this PIA pays more dividend than 92.86% of the companies listed in the same industry.
PIA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 8.09% |
5.2 History
On average, the dividend of PIA grows each year by 6.13%, which is quite nice.
Dividend Growth(5Y)6.13%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
PIA pays out 120.59% of its income as dividend. This is not a sustainable payout ratio.
The dividend of PIA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP120.59%
EPS Next 2Y10.99%
EPS Next 3Y12.62%
BIT:PIA (7/18/2025, 7:00:00 PM)
1.908
+0.02 (+1.11%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)
Earnings (Next)
Inst Owners14.08%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap676.63M
Analysts72.73
Price Target2.36 (23.69%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 8.09% |
Yearly Dividend0.2
Dividend Growth(5Y)6.13%
DP120.59%
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)-13.83%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.83%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.93 | ||
| Fwd PE | 8.14 | ||
| P/S | 0.41 | ||
| P/FCF | N/A | ||
| P/OCF | 4.45 | ||
| P/B | 1.61 | ||
| P/tB | N/A | ||
| EV/EBITDA | 4.25 |
EPS(TTM)0.16
EY8.39%
EPS(NY)0.23
Fwd EY12.28%
FCF(TTM)-0.09
FCFYN/A
OCF(TTM)0.43
OCFY22.48%
SpS4.64
BVpS1.18
TBVpS-1.05
PEG (NY)1.4
PEG (5Y)1.55
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.88% | ||
| ROE | 13.65% | ||
| ROCE | 12.36% | ||
| ROIC | 7.71% | ||
| ROICexc | 8.83% | ||
| ROICexgc | 41.05% | ||
| OM | 7.96% | ||
| PM (TTM) | 3.48% | ||
| GM | 37.59% | ||
| FCFM | N/A |
ROA(3y)4.26%
ROA(5y)3.59%
ROE(3y)19.42%
ROE(5y)16.31%
ROIC(3y)10.61%
ROIC(5y)8.94%
ROICexc(3y)13.11%
ROICexc(5y)11.28%
ROICexgc(3y)153.51%
ROICexgc(5y)159.7%
ROCE(3y)16.26%
ROCE(5y)13.63%
ROICexcg growth 3Y-20.64%
ROICexcg growth 5Y3.95%
ROICexc growth 3Y1.94%
ROICexc growth 5Y2.81%
OM growth 3Y8.22%
OM growth 5Y3.57%
PM growth 3Y3.16%
PM growth 5Y5.16%
GM growth 3Y1.33%
GM growth 5Y-0.36%
F-Score4
Asset Turnover0.83
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.6 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 2.46 | ||
| Cap/Depr | 128.51% | ||
| Cap/Sales | 11.14% | ||
| Interest Coverage | 2.75 | ||
| Cash Conversion | 55.66% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 1.34 |
F-Score4
WACC7.35%
ROIC/WACC1.05
Cap/Depr(3y)118.47%
Cap/Depr(5y)120.04%
Cap/Sales(3y)8.74%
Cap/Sales(5y)9.23%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-33.03%
EPS 3Y4.11%
EPS 5Y7.71%
EPS Q2Q%-53.13%
EPS Next Y8.5%
EPS Next 2Y10.99%
EPS Next 3Y12.62%
EPS Next 5YN/A
Revenue 1Y (TTM)-12.36%
Revenue growth 3Y0.65%
Revenue growth 5Y2.26%
Sales Q2Q%-13.41%
Revenue Next Year-2.34%
Revenue Next 2Y0.81%
Revenue Next 3Y1.99%
Revenue Next 5Y7.13%
EBIT growth 1Y-26.41%
EBIT growth 3Y8.92%
EBIT growth 5Y5.91%
EBIT Next Year75.73%
EBIT Next 3Y24.34%
EBIT Next 5YN/A
FCF growth 1Y-134.41%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-38.58%
OCF growth 3Y-14%
OCF growth 5Y-7.75%