SESA SPA (SES.MI) Fundamental Analysis & Valuation

BIT:SES • IT0004729759

78.5 EUR
-0.5 (-0.63%)
Last: Mar 13, 2026, 11:47 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This SES.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to SES. SES was compared to 55 industry peers in the Electronic Equipment, Instruments & Components industry. Both the profitability and the financial health of SES get a neutral evaluation. Nothing too spectacular is happening here. SES may be a bit undervalued, certainly considering the very reasonable score on growth These ratings would make SES suitable for value investing!


Dividend Valuation Growth Profitability Health

6

1. SES.MI Profitability Analysis

1.1 Basic Checks

  • In the past year SES was profitable.
  • SES had a positive operating cash flow in the past year.
  • In the past 5 years SES has always been profitable.
  • SES had a positive operating cash flow in each of the past 5 years.
SES.MI Yearly Net Income VS EBIT VS OCF VS FCFSES.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M

1.2 Ratios

  • With a decent Return On Assets value of 5.19%, SES is doing good in the industry, outperforming 74.55% of the companies in the same industry.
  • SES has a better Return On Equity (25.96%) than 92.73% of its industry peers.
  • With an excellent Return On Invested Capital value of 12.45%, SES belongs to the best of the industry, outperforming 92.73% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for SES is in line with the industry average of 7.76%.
  • The 3 year average ROIC (8.40%) for SES is below the current ROIC(12.45%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.19%
ROE 25.96%
ROIC 12.45%
ROA(3y)3.62%
ROA(5y)3.97%
ROE(3y)18.23%
ROE(5y)19.35%
ROIC(3y)8.4%
ROIC(5y)8.99%
SES.MI Yearly ROA, ROE, ROICSES.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • SES's Profit Margin of 2.18% is in line compared to the rest of the industry. SES outperforms 56.36% of its industry peers.
  • SES's Profit Margin has declined in the last couple of years.
  • SES's Operating Margin of 3.93% is in line compared to the rest of the industry. SES outperforms 52.73% of its industry peers.
  • In the last couple of years the Operating Margin of SES has remained more or less at the same level.
  • SES has a worse Gross Margin (25.77%) than 80.00% of its industry peers.
  • SES's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 3.93%
PM (TTM) 2.18%
GM 25.77%
OM growth 3Y-6.32%
OM growth 5Y1.36%
PM growth 3Y-14.65%
PM growth 5Y-2.09%
GM growth 3Y4.88%
GM growth 5Y7.04%
SES.MI Yearly Profit, Operating, Gross MarginsSES.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. SES.MI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SES is still creating some value.
  • The number of shares outstanding for SES has been reduced compared to 1 year ago.
  • The number of shares outstanding for SES has been reduced compared to 5 years ago.
  • Compared to 1 year ago, SES has a worse debt to assets ratio.
SES.MI Yearly Shares OutstandingSES.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M
SES.MI Yearly Total Debt VS Total AssetsSES.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.2 Solvency

  • SES has an Altman-Z score of 3.53. This indicates that SES is financially healthy and has little risk of bankruptcy at the moment.
  • With a decent Altman-Z score value of 3.53, SES is doing good in the industry, outperforming 63.64% of the companies in the same industry.
  • The Debt to FCF ratio of SES is 2.71, which is a good value as it means it would take SES, 2.71 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 2.71, SES is doing good in the industry, outperforming 76.36% of the companies in the same industry.
  • A Debt/Equity ratio of 0.66 indicates that SES is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.66, SES is not doing good in the industry: 70.91% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 2.71
Altman-Z 3.53
ROIC/WACC1.45
WACC8.6%
SES.MI Yearly LT Debt VS Equity VS FCFSES.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

2.3 Liquidity

  • A Current Ratio of 1.30 indicates that SES should not have too much problems paying its short term obligations.
  • SES has a Current ratio of 1.30. This is in the lower half of the industry: SES underperforms 67.27% of its industry peers.
  • A Quick Ratio of 1.14 indicates that SES should not have too much problems paying its short term obligations.
  • SES has a better Quick ratio (1.14) than 61.82% of its industry peers.
Industry RankSector Rank
Current Ratio 1.3
Quick Ratio 1.14
SES.MI Yearly Current Assets VS Current LiabilitesSES.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. SES.MI Growth Analysis

3.1 Past

  • SES shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.12%.
  • SES shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.41% yearly.
  • SES shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.57%.
  • Measured over the past years, SES shows a quite strong growth in Revenue. The Revenue has been growing by 12.77% on average per year.
EPS 1Y (TTM)3.12%
EPS 3Y-5.42%
EPS 5Y10.41%
EPS Q2Q%14%
Revenue 1Y (TTM)9.57%
Revenue growth 3Y10.81%
Revenue growth 5Y12.77%
Sales Q2Q%11.95%

3.2 Future

  • SES is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.22% yearly.
  • The Revenue is expected to grow by 10.28% on average over the next years. This is quite good.
EPS Next Y-3.87%
EPS Next 2Y3.04%
EPS Next 3Y5.22%
EPS Next 5YN/A
Revenue Next Year5.12%
Revenue Next 2Y5.16%
Revenue Next 3Y5.19%
Revenue Next 5Y10.28%

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.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
SES.MI Yearly Revenue VS EstimatesSES.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B
SES.MI Yearly EPS VS EstimatesSES.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8

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7

4. SES.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 10.42, the valuation of SES can be described as very reasonable.
  • Based on the Price/Earnings ratio, SES is valued cheaper than 92.73% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of SES to the average of the S&P500 Index (25.71), we can say SES is valued rather cheaply.
  • With a Price/Forward Earnings ratio of 10.11, the valuation of SES can be described as very reasonable.
  • 81.82% of the companies in the same industry are more expensive than SES, based on the Price/Forward Earnings ratio.
  • SES's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.82.
Industry RankSector Rank
PE 10.42
Fwd PE 10.11
SES.MI Price Earnings VS Forward Price EarningsSES.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SES is valued cheaper than 89.09% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, SES is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 7.56
EV/EBITDA 4.02
SES.MI Per share dataSES.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 200 300

4.3 Compensation for Growth

  • SES has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1
EPS Next 2Y3.04%
EPS Next 3Y5.22%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. SES.MI Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.30%, SES has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 1.50, SES has a dividend in line with its industry peers.
  • SES's Dividend Yield is slightly below the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.3%

5.2 History

  • On average, the dividend of SES grows each year by 8.18%, which is quite nice.
Dividend Growth(5Y)8.18%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • SES pays out 14.52% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of SES is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP14.52%
EPS Next 2Y3.04%
EPS Next 3Y5.22%
SES.MI Yearly Income VS Free CF VS DividendSES.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
SES.MI Dividend Payout.SES.MI Dividend Payout, showing the Payout Ratio.SES.MI Dividend Payout.PayoutRetained Earnings

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SES.MI Fundamentals: All Metrics, Ratios and Statistics

SESA SPA

BIT:SES (3/13/2026, 11:47:48 AM)

78.5

-0.5 (-0.63%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)12-18
Earnings (Next)03-12
Inst Owners25.79%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.20B
Revenue(TTM)5.20B
Net Income(TTM)113.08M
Analysts87.5
Price Target117.3 (49.43%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.3%
Yearly Dividend1.01
Dividend Growth(5Y)8.18%
DP14.52%
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)0.86%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)1.81%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)1.01%
Valuation
Industry RankSector Rank
PE 10.42
Fwd PE 10.11
P/S 0.23
P/FCF 7.56
P/OCF 6.67
P/B 2.76
P/tB N/A
EV/EBITDA 4.02
EPS(TTM)7.53
EY9.59%
EPS(NY)7.77
Fwd EY9.89%
FCF(TTM)10.38
FCFY13.22%
OCF(TTM)11.76
OCFY14.99%
SpS338.78
BVpS28.39
TBVpS-6.04
PEG (NY)N/A
PEG (5Y)1
Graham Number69.36
Profitability
Industry RankSector Rank
ROA 5.19%
ROE 25.96%
ROCE 18.71%
ROIC 12.45%
ROICexc 20.87%
ROICexgc 101.8%
OM 3.93%
PM (TTM) 2.18%
GM 25.77%
FCFM 3.06%
ROA(3y)3.62%
ROA(5y)3.97%
ROE(3y)18.23%
ROE(5y)19.35%
ROIC(3y)8.4%
ROIC(5y)8.99%
ROICexc(3y)17.81%
ROICexc(5y)23.84%
ROICexgc(3y)145.91%
ROICexgc(5y)N/A
ROCE(3y)13.17%
ROCE(5y)13.97%
ROICexgc growth 3YN/A
ROICexgc growth 5Y15.12%
ROICexc growth 3Y-28.63%
ROICexc growth 5Y-11.45%
OM growth 3Y-6.32%
OM growth 5Y1.36%
PM growth 3Y-14.65%
PM growth 5Y-2.09%
GM growth 3Y4.88%
GM growth 5Y7.04%
F-Score6
Asset Turnover2.39
Health
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 2.71
Debt/EBITDA 0.98
Cap/Depr 24.33%
Cap/Sales 0.41%
Interest Coverage 4.27
Cash Conversion 61.97%
Profit Quality 140.82%
Current Ratio 1.3
Quick Ratio 1.14
Altman-Z 3.53
F-Score6
WACC8.6%
ROIC/WACC1.45
Cap/Depr(3y)34.94%
Cap/Depr(5y)40.36%
Cap/Sales(3y)0.75%
Cap/Sales(5y)0.78%
Profit Quality(3y)135.35%
Profit Quality(5y)165.8%
High Growth Momentum
Growth
EPS 1Y (TTM)3.12%
EPS 3Y-5.42%
EPS 5Y10.41%
EPS Q2Q%14%
EPS Next Y-3.87%
EPS Next 2Y3.04%
EPS Next 3Y5.22%
EPS Next 5YN/A
Revenue 1Y (TTM)9.57%
Revenue growth 3Y10.81%
Revenue growth 5Y12.77%
Sales Q2Q%11.95%
Revenue Next Year5.12%
Revenue Next 2Y5.16%
Revenue Next 3Y5.19%
Revenue Next 5Y10.28%
EBIT growth 1Y3.56%
EBIT growth 3Y3.81%
EBIT growth 5Y14.31%
EBIT Next Year51.4%
EBIT Next 3Y20.54%
EBIT Next 5YN/A
FCF growth 1Y40.4%
FCF growth 3Y-9.53%
FCF growth 5Y2.42%
OCF growth 1Y33.82%
OCF growth 3Y-6.94%
OCF growth 5Y4.24%

SESA SPA / SES.MI FAQ

What is the fundamental rating for SES stock?

ChartMill assigns a fundamental rating of 6 / 10 to SES.MI.


What is the valuation status of SESA SPA (SES.MI) stock?

ChartMill assigns a valuation rating of 7 / 10 to SESA SPA (SES.MI). This can be considered as Undervalued.


What is the profitability of SES stock?

SESA SPA (SES.MI) has a profitability rating of 6 / 10.


What is the financial health of SESA SPA (SES.MI) stock?

The financial health rating of SESA SPA (SES.MI) is 5 / 10.


Is the dividend of SESA SPA sustainable?

The dividend rating of SESA SPA (SES.MI) is 4 / 10 and the dividend payout ratio is 14.52%.