SAIPEM SPA (SPM.MI) Stock Fundamental Analysis
Europe • Euronext Milan • BIT:SPM • IT0005495657
3.168 EUR
+0.06 (+1.9%)
Last: Feb 2, 2026, 05:35 PM
Overall SPM gets a fundamental rating of 4 out of 10. We evaluated SPM against 36 industry peers in the Energy Equipment & Services industry. While SPM seems to be doing ok healthwise, there are quite some concerns on its profitability. SPM is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
- SPM had positive earnings in the past year.
- In the past year SPM had a positive cash flow from operations.
- The reported net income has been mixed in the past 5 years: SPM reported negative net income in multiple years.
- Of the past 5 years SPM 4 years had a positive operating cash flow.
1.2 Ratios
- SPM has a worse Return On Assets (2.20%) than 69.44% of its industry peers.
- SPM has a Return On Equity of 11.73%. This is comparable to the rest of the industry: SPM outperforms 58.33% of its industry peers.
- SPM's Return On Invested Capital of 6.28% is in line compared to the rest of the industry. SPM outperforms 41.67% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for SPM is significantly below the industry average of 10.18%.
- The last Return On Invested Capital (6.28%) for SPM is above the 3 year average (3.90%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.2% | ||
| ROE | 11.73% | ||
| ROIC | 6.28% |
ROA(3y)0.6%
ROA(5y)-5.93%
ROE(3y)3.16%
ROE(5y)-157.22%
ROIC(3y)3.9%
ROIC(5y)N/A
1.3 Margins
- SPM has a worse Profit Margin (2.10%) than 75.00% of its industry peers.
- SPM's Profit Margin has improved in the last couple of years.
- Looking at the Operating Margin, with a value of 4.47%, SPM is doing worse than 77.78% of the companies in the same industry.
- SPM's Operating Margin has declined in the last couple of years.
- Looking at the Gross Margin, with a value of 30.52%, SPM is in line with its industry, outperforming 58.33% of the companies in the same industry.
- SPM's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 4.47% | ||
| PM (TTM) | 2.1% | ||
| GM | 30.52% |
OM growth 3YN/A
OM growth 5Y-4.9%
PM growth 3YN/A
PM growth 5Y74.04%
GM growth 3Y11.3%
GM growth 5Y-3.46%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SPM is destroying value.
- SPM has less shares outstanding than it did 1 year ago.
- Compared to 5 years ago, SPM has more shares outstanding
- Compared to 1 year ago, SPM has an improved debt to assets ratio.
2.2 Solvency
- Based on the Altman-Z score of 1.68, we must say that SPM is in the distress zone and has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 1.68, SPM is in the better half of the industry, outperforming 77.78% of the companies in the same industry.
- The Debt to FCF ratio of SPM is 2.57, which is a good value as it means it would take SPM, 2.57 years of fcf income to pay off all of its debts.
- Looking at the Debt to FCF ratio, with a value of 2.57, SPM is in the better half of the industry, outperforming 69.44% of the companies in the same industry.
- SPM has a Debt/Equity ratio of 0.88. This is a neutral value indicating SPM is somewhat dependend on debt financing.
- SPM has a Debt to Equity ratio of 0.88. This is in the lower half of the industry: SPM underperforms 69.44% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | 2.57 | ||
| Altman-Z | 1.68 |
ROIC/WACC0.89
WACC7.02%
2.3 Liquidity
- A Current Ratio of 1.13 indicates that SPM should not have too much problems paying its short term obligations.
- SPM has a Current ratio of 1.13. This is in the lower half of the industry: SPM underperforms 75.00% of its industry peers.
- SPM has a Quick Ratio of 1.09. This is a normal value and indicates that SPM is financially healthy and should not expect problems in meeting its short term obligations.
- Looking at the Quick ratio, with a value of 1.09, SPM is doing worse than 72.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.13 | ||
| Quick Ratio | 1.09 |
3. Growth
3.1 Past
- SPM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.29%, which is quite good.
- Measured over the past years, SPM shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -19.00% on average per year.
- Looking at the last year, SPM shows a very strong growth in Revenue. The Revenue has grown by 22.44%.
- SPM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.81% yearly.
EPS 1Y (TTM)14.29%
EPS 3YN/A
EPS 5Y-19%
EPS Q2Q%0%
Revenue 1Y (TTM)22.44%
Revenue growth 3Y30.62%
Revenue growth 5Y9.81%
Sales Q2Q%1.59%
3.2 Future
- Based on estimates for the next years, SPM will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.14% on average per year.
- SPM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.48% yearly.
EPS Next Y26.09%
EPS Next 2Y33.91%
EPS Next 3Y27.01%
EPS Next 5Y17.14%
Revenue Next Year6.22%
Revenue Next 2Y4.72%
Revenue Next 3Y2.76%
Revenue Next 5Y0.48%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 19.80, which indicates a rather expensive current valuation of SPM.
- Based on the Price/Earnings ratio, SPM is valued a bit more expensive than 61.11% of the companies in the same industry.
- SPM is valuated rather cheaply when we compare the Price/Earnings ratio to 28.32, which is the current average of the S&P500 Index.
- SPM is valuated correctly with a Price/Forward Earnings ratio of 12.62.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of SPM is on the same level as its industry peers.
- When comparing the Price/Forward Earnings ratio of SPM to the average of the S&P500 Index (25.57), we can say SPM is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.8 | ||
| Fwd PE | 12.62 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, SPM is valued a bit cheaper than the industry average as 72.22% of the companies are valued more expensively.
- Based on the Price/Free Cash Flow ratio, SPM is valued cheaply inside the industry as 80.56% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.65 | ||
| EV/EBITDA | 3.79 |
4.3 Compensation for Growth
- SPM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- SPM's earnings are expected to grow with 27.01% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.76
PEG (5Y)N/A
EPS Next 2Y33.91%
EPS Next 3Y27.01%
5. Dividend
5.1 Amount
- SPM has a Yearly Dividend Yield of 5.49%, which is a nice return.
- Compared to an average industry Dividend Yield of 3.48, SPM pays a bit more dividend than its industry peers.
- SPM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.49% |
5.2 History
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DP0%
EPS Next 2Y33.91%
EPS Next 3Y27.01%
SAIPEM SPA / SPM.MI FAQ
What is the fundamental rating for SPM stock?
ChartMill assigns a fundamental rating of 4 / 10 to SPM.MI.
Can you provide the valuation status for SAIPEM SPA?
ChartMill assigns a valuation rating of 6 / 10 to SAIPEM SPA (SPM.MI). This can be considered as Fairly Valued.
How profitable is SAIPEM SPA (SPM.MI) stock?
SAIPEM SPA (SPM.MI) has a profitability rating of 3 / 10.
Can you provide the PE and PB ratios for SPM stock?
The Price/Earnings (PE) ratio for SAIPEM SPA (SPM.MI) is 19.8 and the Price/Book (PB) ratio is 2.42.
Can you provide the financial health for SPM stock?
The financial health rating of SAIPEM SPA (SPM.MI) is 4 / 10.