SAIPEM SPA (SPM.MI) Fundamental Analysis & Valuation

BIT:SPM • IT0005495657

3.273 EUR
-0.08 (-2.3%)
Last: Mar 5, 2026, 05:35 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

4

Taking everything into account, SPM scores 4 out of 10 in our fundamental rating. SPM was compared to 36 industry peers in the Energy Equipment & Services industry. The financial health of SPM is average, but there are quite some concerns on its profitability. SPM has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

3

1. SPM.MI Profitability Analysis

1.1 Basic Checks

  • SPM had positive earnings in the past year.
  • In the past year SPM had a positive cash flow from operations.
  • In multiple years SPM reported negative net income over the last 5 years.
  • Of the past 5 years SPM 4 years had a positive operating cash flow.
SPM.MI Yearly Net Income VS EBIT VS OCF VS FCFSPM.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 0 1B -1B -2B

1.2 Ratios

  • SPM's Return On Assets of 2.20% is on the low side compared to the rest of the industry. SPM is outperformed by 69.44% of its industry peers.
  • The Return On Equity of SPM (11.73%) is comparable to the rest of the industry.
  • SPM has a Return On Invested Capital of 6.28%. This is comparable 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 10.29%.
  • 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 RankSector 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
SPM.MI Yearly ROA, ROE, ROICSPM.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -200 -400 -600

1.3 Margins

  • Looking at the Profit Margin, with a value of 2.10%, SPM is doing worse than 75.00% 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 77.78% of its industry peers.
  • 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.
  • In the last couple of years the Gross Margin of SPM has declined.
Industry RankSector 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%
SPM.MI Yearly Profit, Operating, Gross MarginsSPM.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. SPM.MI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SPM is destroying value.
  • Compared to 1 year ago, SPM has less shares outstanding
  • The number of shares outstanding for SPM has been increased compared to 5 years ago.
  • Compared to 1 year ago, SPM has an improved debt to assets ratio.
SPM.MI Yearly Shares OutstandingSPM.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
SPM.MI Yearly Total Debt VS Total AssetsSPM.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B

2.2 Solvency

  • Based on the Altman-Z score of 1.71, we must say that SPM is in the distress zone and has some risk of bankruptcy.
  • With a decent Altman-Z score value of 1.71, SPM is doing good in the industry, outperforming 72.22% of the companies in the same industry.
  • SPM has a debt to FCF ratio of 2.57. This is a good value and a sign of high solvency as SPM would need 2.57 years to pay back of 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.
  • A Debt/Equity ratio of 0.88 indicates that SPM is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.88, SPM is doing worse than 69.44% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.88
Debt/FCF 2.57
Altman-Z 1.71
ROIC/WACC0.88
WACC7.15%
SPM.MI Yearly LT Debt VS Equity VS FCFSPM.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

2.3 Liquidity

  • SPM has a Current Ratio of 1.13. 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 Current ratio, with a value of 1.13, SPM is doing worse than 75.00% of the companies in the same industry.
  • 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.
  • The Quick ratio of SPM (1.09) is worse than 72.22% of its industry peers.
Industry RankSector Rank
Current Ratio 1.13
Quick Ratio 1.09
SPM.MI Yearly Current Assets VS Current LiabilitesSPM.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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5

3. SPM.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 14.29% over the past year.
  • SPM shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -19.00% yearly.
  • The Revenue has grown by 22.44% in the past year. This is a very strong growth!
  • 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

  • The Earnings Per Share is expected to grow by 17.58% on average over the next years. This is quite good.
  • Based on estimates for the next years, SPM will show a small growth in Revenue. The Revenue will grow by 0.93% on average per year.
EPS Next Y26.09%
EPS Next 2Y33.91%
EPS Next 3Y27.01%
EPS Next 5Y17.58%
Revenue Next Year6.5%
Revenue Next 2Y5.32%
Revenue Next 3Y2.77%
Revenue Next 5Y0.93%

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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
SPM.MI Yearly Revenue VS EstimatesSPM.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B
SPM.MI Yearly EPS VS EstimatesSPM.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -2 -4

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5

4. SPM.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 20.46, which indicates a rather expensive current valuation of SPM.
  • Based on the Price/Earnings ratio, SPM is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
  • SPM is valuated rather cheaply when we compare the Price/Earnings ratio to 27.03, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 13.04, SPM is valued correctly.
  • SPM's Price/Forward Earnings ratio is in line with the industry average.
  • SPM's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.11.
Industry RankSector Rank
PE 20.46
Fwd PE 13.04
SPM.MI Price Earnings VS Forward Price EarningsSPM.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, SPM is valued a bit cheaper than 69.44% of the companies in the same industry.
  • 80.56% of the companies in the same industry are more expensive than SPM, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 5.84
EV/EBITDA 4.12
SPM.MI Per share dataSPM.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

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)0.78
PEG (5Y)N/A
EPS Next 2Y33.91%
EPS Next 3Y27.01%

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

5

5. SPM.MI Dividend Analysis

5.1 Amount

  • SPM has a Yearly Dividend Yield of 4.89%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.13, SPM pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, SPM pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.89%

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%
SPM.MI Yearly Income VS Free CF VS DividendSPM.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -1B -2B

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SPM.MI Fundamentals: All Metrics, Ratios and Statistics

SAIPEM SPA

BIT:SPM (3/5/2026, 5:35:15 PM)

3.273

-0.08 (-2.3%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-24
Earnings (Next)04-21
Inst Owners32.09%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap6.53B
Revenue(TTM)22.64B
Net Income(TTM)306.00M
Analysts83.64
Price Target3.37 (2.96%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.89%
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)-18.25%
Min EPS beat(2)-44.99%
Max EPS beat(2)8.5%
EPS beat(4)2
Avg EPS beat(4)-8.28%
Min EPS beat(4)-44.99%
Max EPS beat(4)15.63%
EPS beat(8)3
Avg EPS beat(8)-15.27%
EPS beat(12)7
Avg EPS beat(12)12.31%
EPS beat(16)9
Avg EPS beat(16)6.52%
Revenue beat(2)0
Avg Revenue beat(2)-0.84%
Min Revenue beat(2)-1.6%
Max Revenue beat(2)-0.09%
Revenue beat(4)2
Avg Revenue beat(4)3.39%
Min Revenue beat(4)-1.6%
Max Revenue beat(4)7.84%
Revenue beat(8)5
Avg Revenue beat(8)4.41%
Revenue beat(12)9
Avg Revenue beat(12)6.73%
Revenue beat(16)12
Avg Revenue beat(16)11.26%
PT rev (1m)5.5%
PT rev (3m)6.86%
EPS NQ rev (1m)-1.38%
EPS NQ rev (3m)-1.38%
EPS NY rev (1m)0%
EPS NY rev (3m)-6.06%
Revenue NQ rev (1m)0.15%
Revenue NQ rev (3m)0.15%
Revenue NY rev (1m)0.27%
Revenue NY rev (3m)-0.28%
Valuation
Industry RankSector Rank
PE 20.46
Fwd PE 13.04
P/S 0.45
P/FCF 5.84
P/OCF 4.51
P/B 2.5
P/tB 3.37
EV/EBITDA 4.12
EPS(TTM)0.16
EY4.89%
EPS(NY)0.25
Fwd EY7.67%
FCF(TTM)0.56
FCFY17.12%
OCF(TTM)0.73
OCFY22.17%
SpS7.29
BVpS1.31
TBVpS0.97
PEG (NY)0.78
PEG (5Y)N/A
Graham Number2.17
Profitability
Industry RankSector Rank
ROA 2.2%
ROE 11.73%
ROCE 10.69%
ROIC 6.28%
ROICexc 10.95%
ROICexgc 13.53%
OM 4.47%
PM (TTM) 2.1%
GM 30.52%
FCFM 7.68%
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
ROICexgc growth 3YN/A
ROICexgc 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 Turnover1.05
Health
Industry RankSector Rank
Debt/Equity 0.88
Debt/FCF 2.57
Debt/EBITDA 1.57
Cap/Depr 40.39%
Cap/Sales 2.27%
Interest Coverage 3.5
Cash Conversion 98.64%
Profit Quality 365.36%
Current Ratio 1.13
Quick Ratio 1.09
Altman-Z 1.71
F-Score8
WACC7.15%
ROIC/WACC0.88
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)14.29%
EPS 3YN/A
EPS 5Y-19%
EPS Q2Q%0%
EPS Next Y26.09%
EPS Next 2Y33.91%
EPS Next 3Y27.01%
EPS Next 5Y17.58%
Revenue 1Y (TTM)22.44%
Revenue growth 3Y30.62%
Revenue growth 5Y9.81%
Sales Q2Q%1.59%
Revenue Next Year6.5%
Revenue Next 2Y5.32%
Revenue Next 3Y2.77%
Revenue Next 5Y0.93%
EBIT growth 1Y44.35%
EBIT growth 3YN/A
EBIT growth 5Y4.44%
EBIT Next Year163.46%
EBIT Next 3Y45.24%
EBIT Next 5Y22.67%
FCF growth 1Y370.05%
FCF growth 3YN/A
FCF growth 5Y-4.7%
OCF growth 1Y793.83%
OCF growth 3Y127.59%
OCF growth 5Y-3.33%

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 5 / 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 20.46 and the Price/Book (PB) ratio is 2.5.


Can you provide the financial health for SPM stock?

The financial health rating of SAIPEM SPA (SPM.MI) is 4 / 10.