SAIPEM SPA (SPM.MI) Stock Fundamental Analysis
BIT:SPM - Euronext Milan - IT0005495657 - Common Stock - Currency: EUR
Taking everything into account, SPM scores 5 out of 10 in our fundamental rating. SPM was compared to 35 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 may be a bit undervalued, certainly considering the very reasonable score on growth
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.
SPM had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
SPM has a worse Return On Assets (2.11%) than 69.44% of its industry peers.
SPM has a Return On Equity (12.12%) which is in line with its industry peers.
The Return On Invested Capital of SPM (6.37%) is worse than 61.11% 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 11.05%.
The 3 year average ROIC (3.90%) for SPM is below the current ROIC(6.37%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.11% | ||
| ROE | 12.12% | ||
| ROIC | 6.37% |
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
Looking at the Profit Margin, with a value of 2.10%, SPM is doing worse than 72.22% of the companies in the same industry.
In the last couple of years the Profit Margin of SPM has grown nicely.
SPM's Operating Margin of 4.47% is on the low side compared to the rest of the industry. SPM is outperformed by 80.56% of its industry peers.
SPM's Operating Margin has declined in the last couple of years.
SPM has a better Gross Margin (30.52%) than 72.22% of its industry peers.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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
The debt/assets ratio for SPM has been reduced compared to a year ago.
2.2 Solvency
SPM has an Altman-Z score of 1.52. This is a bad value and indicates that SPM is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of SPM (1.52) is better than 61.11% of its industry peers.
The Debt to FCF ratio of SPM is 4.17, which is a neutral value as it means it would take SPM, 4.17 years of fcf income to pay off all of its debts.
SPM's Debt to FCF ratio of 4.17 is in line compared to the rest of the industry. SPM outperforms 52.78% of its industry peers.
A Debt/Equity ratio of 0.90 indicates that SPM is somewhat dependend on debt financing.
SPM has a Debt to Equity ratio of 0.90. This is comparable to the rest of the industry: SPM outperforms 41.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.9 | ||
| Debt/FCF | 4.17 | ||
| Altman-Z | 1.52 |
ROIC/WACC0.89
WACC7.18%
2.3 Liquidity
A Current Ratio of 1.13 indicates that SPM should not have too much problems paying its short term obligations.
SPM's Current ratio of 1.13 is on the low side compared to the rest of the industry. SPM is outperformed by 63.89% of its industry peers.
A Quick Ratio of 1.09 indicates that SPM should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.09, SPM perfoms like the industry average, outperforming 44.44% 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 34.45%, which is quite impressive.
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%.
The Revenue has been growing by 9.81% on average over the past years. This is quite good.
EPS 1Y (TTM)34.45%
EPS 3YN/A
EPS 5Y-19%
EPS Q2Q%0%
Revenue 1Y (TTM)22.44%
Revenue growth 3Y30.62%
Revenue growth 5Y9.81%
Sales Q2Q%9.55%
3.2 Future
Based on estimates for the next years, SPM will show a very strong growth in Earnings Per Share. The EPS will grow by 23.33% on average per year.
SPM is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.16% yearly.
EPS Next Y57.31%
EPS Next 2Y47.59%
EPS Next 3Y36.61%
EPS Next 5Y23.33%
Revenue Next Year7.37%
Revenue Next 2Y5.29%
Revenue Next 3Y2.96%
Revenue Next 5Y-0.16%
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 accelerating.
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
SPM is valuated correctly with a Price/Earnings ratio of 14.12.
Compared to the rest of the industry, the Price/Earnings ratio of SPM is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 26.51, SPM is valued a bit cheaper.
With a Price/Forward Earnings ratio of 7.41, the valuation of SPM can be described as very cheap.
The rest of the industry has a similar Price/Forward Earnings ratio as SPM.
SPM is valuated cheaply when we compare the Price/Forward Earnings ratio to 34.09, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.12 | ||
| Fwd PE | 7.41 |
4.2 Price Multiples
SPM's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. SPM is cheaper than 86.11% of the companies in the same industry.
SPM's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SPM is cheaper than 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.23 | ||
| EV/EBITDA | 2.94 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as SPM's earnings are expected to grow with 36.61% in the coming years.
PEG (NY)0.25
PEG (5Y)N/A
EPS Next 2Y47.59%
EPS Next 3Y36.61%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 7.53%, SPM is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.54, SPM pays a better dividend. On top of this SPM pays more dividend than 80.56% of the companies listed in the same industry.
SPM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.53% |
5.2 History
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DP0%
EPS Next 2Y47.59%
EPS Next 3Y36.61%
BIT:SPM (8/8/2025, 7:00:00 PM)
2.26
+0 (+0.09%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)
Earnings (Next)
Inst Owners22.2%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap4.51B
Analysts82.86
Price Target3.19 (41.15%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.53% |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.68%
Min EPS beat(2)-12.27%
Max EPS beat(2)15.63%
EPS beat(4)1
Avg EPS beat(4)-13.07%
Min EPS beat(4)-43.42%
Max EPS beat(4)15.63%
EPS beat(8)4
Avg EPS beat(8)2.42%
EPS beat(12)8
Avg EPS beat(12)22.94%
EPS beat(16)8
Avg EPS beat(16)-22.03%
Revenue beat(2)2
Avg Revenue beat(2)7.62%
Min Revenue beat(2)7.39%
Max Revenue beat(2)7.84%
Revenue beat(4)3
Avg Revenue beat(4)5.05%
Min Revenue beat(4)-0.23%
Max Revenue beat(4)7.84%
Revenue beat(8)7
Avg Revenue beat(8)5.87%
Revenue beat(12)11
Avg Revenue beat(12)7.57%
Revenue beat(16)13
Avg Revenue beat(16)15.95%
PT rev (1m)1.06%
PT rev (3m)0.45%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)2.06%
Revenue NQ rev (3m)2.06%
Revenue NY rev (1m)0.38%
Revenue NY rev (3m)0.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.12 | ||
| Fwd PE | 7.41 | ||
| P/S | 0.31 | ||
| P/FCF | 6.23 | ||
| P/OCF | 4.25 | ||
| P/B | 1.79 | ||
| P/tB | 2.43 | ||
| EV/EBITDA | 2.94 |
EPS(TTM)0.16
EY7.08%
EPS(NY)0.3
Fwd EY13.49%
FCF(TTM)0.36
FCFY16.05%
OCF(TTM)0.53
OCFY23.52%
SpS7.29
BVpS1.26
TBVpS0.93
PEG (NY)0.25
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.11% | ||
| ROE | 12.12% | ||
| ROCE | 10.93% | ||
| ROIC | 6.37% | ||
| ROICexc | 12.16% | ||
| ROICexgc | 15.43% | ||
| OM | 4.47% | ||
| PM (TTM) | 2.1% | ||
| GM | 30.52% | ||
| FCFM | 4.98% |
ROA(3y)0.6%
ROA(5y)-5.93%
ROE(3y)3.16%
ROE(5y)-157.22%
ROIC(3y)3.9%
ROIC(5y)N/A
ROICexc(3y)7.2%
ROICexc(5y)N/A
ROICexgc(3y)9.07%
ROICexgc(5y)N/A
ROCE(3y)6.72%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y18.8%
ROICexc growth 3YN/A
ROICexc growth 5Y16.44%
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%
F-Score8
Asset Turnover1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.9 | ||
| Debt/FCF | 4.17 | ||
| Debt/EBITDA | 1.72 | ||
| Cap/Depr | 49.93% | ||
| Cap/Sales | 2.32% | ||
| Interest Coverage | 3.62 | ||
| Cash Conversion | 80.02% | ||
| Profit Quality | 236.6% | ||
| Current Ratio | 1.13 | ||
| Quick Ratio | 1.09 | ||
| Altman-Z | 1.52 |
F-Score8
WACC7.18%
ROIC/WACC0.89
Cap/Depr(3y)91.1%
Cap/Depr(5y)77%
Cap/Sales(3y)3.87%
Cap/Sales(5y)4.11%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)34.45%
EPS 3YN/A
EPS 5Y-19%
EPS Q2Q%0%
EPS Next Y57.31%
EPS Next 2Y47.59%
EPS Next 3Y36.61%
EPS Next 5Y23.33%
Revenue 1Y (TTM)22.44%
Revenue growth 3Y30.62%
Revenue growth 5Y9.81%
Sales Q2Q%9.55%
Revenue Next Year7.37%
Revenue Next 2Y5.29%
Revenue Next 3Y2.96%
Revenue Next 5Y-0.16%
EBIT growth 1Y44.35%
EBIT growth 3YN/A
EBIT growth 5Y4.44%
EBIT Next Year154.4%
EBIT Next 3Y44.35%
EBIT Next 5Y31.78%
FCF growth 1Y596.15%
FCF growth 3YN/A
FCF growth 5Y-4.7%
OCF growth 1Y81.06%
OCF growth 3Y127.59%
OCF growth 5Y-3.33%