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TOSCANA AEROPORTI SPA (TYA.MI) Stock Fundamental Analysis

BIT:TYA - Euronext Milan - IT0000214293 - Common Stock - Currency: EUR

16.5  +0.2 (+1.23%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to TYA. TYA was compared to 10 industry peers in the Transportation Infrastructure industry. While TYA belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. TYA is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

TYA had positive earnings in the past year.
In the past year TYA had a positive cash flow from operations.
In multiple years TYA reported negative net income over the last 5 years.
The reported operating cash flow has been mixed in the past 5 years: TYA reported negative operating cash flow in multiple years.
TYA.MI Yearly Net Income VS EBIT VS OCF VS FCFTYA.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M -40M

1.2 Ratios

The Return On Assets of TYA (7.93%) is better than 100.00% of its industry peers.
TYA has a Return On Equity of 20.87%. This is amongst the best in the industry. TYA outperforms 100.00% of its industry peers.
TYA has a Return On Invested Capital of 12.84%. This is amongst the best in the industry. TYA outperforms 100.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for TYA is in line with the industry average of 6.13%.
The 3 year average ROIC (6.52%) for TYA is below the current ROIC(12.84%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.93%
ROE 20.87%
ROIC 12.84%
ROA(3y)3.79%
ROA(5y)1.21%
ROE(3y)10.62%
ROE(5y)2.99%
ROIC(3y)6.52%
ROIC(5y)N/A
TYA.MI Yearly ROA, ROE, ROICTYA.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10 15

1.3 Margins

The Profit Margin of TYA (12.30%) is better than 72.73% of its industry peers.
In the last couple of years the Profit Margin of TYA has grown nicely.
Looking at the Operating Margin, with a value of 23.17%, TYA is in the better half of the industry, outperforming 72.73% of the companies in the same industry.
TYA's Operating Margin has improved in the last couple of years.
TYA has a better Gross Margin (92.36%) than 81.82% of its industry peers.
TYA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 23.17%
PM (TTM) 12.3%
GM 92.36%
OM growth 3YN/A
OM growth 5Y5.69%
PM growth 3YN/A
PM growth 5Y3.83%
GM growth 3Y-0.8%
GM growth 5Y-0.56%
TYA.MI Yearly Profit, Operating, Gross MarginsTYA.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), TYA is creating some value.
Compared to 1 year ago, TYA has about the same amount of shares outstanding.
Compared to 5 years ago, TYA has about the same amount of shares outstanding.
Compared to 1 year ago, TYA has an improved debt to assets ratio.
TYA.MI Yearly Shares OutstandingTYA.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M
TYA.MI Yearly Total Debt VS Total AssetsTYA.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

An Altman-Z score of 2.46 indicates that TYA is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.46, TYA is doing good in the industry, outperforming 72.73% of the companies in the same industry.
TYA has a debt to FCF ratio of 9.32. This is a negative value and a sign of low solvency as TYA would need 9.32 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 9.32, TYA is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
TYA has a Debt/Equity ratio of 0.80. This is a neutral value indicating TYA is somewhat dependend on debt financing.
TYA has a Debt to Equity ratio of 0.80. This is in the better half of the industry: TYA outperforms 63.64% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.8
Debt/FCF 9.32
Altman-Z 2.46
ROIC/WACC1.75
WACC7.34%
TYA.MI Yearly LT Debt VS Equity VS FCFTYA.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M

2.3 Liquidity

A Current Ratio of 0.76 indicates that TYA may have some problems paying its short term obligations.
With a Current ratio value of 0.76, TYA is not doing good in the industry: 72.73% of the companies in the same industry are doing better.
A Quick Ratio of 0.76 indicates that TYA may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.76, TYA is doing worse than 72.73% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.76
Quick Ratio 0.76
TYA.MI Yearly Current Assets VS Current LiabilitesTYA.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

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2

3. Growth

3.1 Past

TYA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.02%, which is quite good.
TYA shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.86% yearly.
The Revenue has been growing slightly by 4.51% in the past year.
The Revenue has been growing slightly by 0.03% on average over the past years.
EPS 1Y (TTM)10.02%
EPS 3YN/A
EPS 5Y3.86%
EPS Q2Q%-29.91%
Revenue 1Y (TTM)4.51%
Revenue growth 3Y22.25%
Revenue growth 5Y0.03%
Sales Q2Q%23.12%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y18.46%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.62%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
TYA.MI Yearly Revenue VS EstimatesTYA.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
TYA.MI Yearly EPS VS EstimatesTYA.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 0 0.5 -0.5

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5

4. Valuation

4.1 Price/Earnings Ratio

TYA is valuated correctly with a Price/Earnings ratio of 13.10.
Based on the Price/Earnings ratio, TYA is valued cheaply inside the industry as 90.91% of the companies are valued more expensively.
TYA is valuated cheaply when we compare the Price/Earnings ratio to 27.41, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 21.22, the valuation of TYA can be described as rather expensive.
The rest of the industry has a similar Price/Forward Earnings ratio as TYA.
The average S&P500 Price/Forward Earnings ratio is at 35.19. TYA is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 13.1
Fwd PE 21.22
TYA.MI Price Earnings VS Forward Price EarningsTYA.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

TYA's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. TYA is cheaper than 63.64% of the companies in the same industry.
TYA's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 30.93
EV/EBITDA 7.08
TYA.MI Per share dataTYA.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10

4.3 Compensation for Growth

TYA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of TYA may justify a higher PE ratio.
PEG (NY)0.71
PEG (5Y)3.39
EPS Next 2YN/A
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.34%, TYA has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 7.29, TYA has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, TYA has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.34%

5.2 History

The dividend of TYA decreases each year by -6.09%.
Dividend Growth(5Y)-6.09%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

31.08% of the earnings are spent on dividend by TYA. This is a low number and sustainable payout ratio.
DP31.08%
EPS Next 2YN/A
EPS Next 3YN/A
TYA.MI Yearly Income VS Free CF VS DividendTYA.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M -40M
TYA.MI Dividend Payout.TYA.MI Dividend Payout, showing the Payout Ratio.TYA.MI Dividend Payout.PayoutRetained Earnings

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TOSCANA AEROPORTI SPA

BIT:TYA (7/2/2025, 7:00:00 PM)

16.5

+0.2 (+1.23%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryTransportation Infrastructure
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners0.71%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap307.06M
Analysts45.71
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.34%
Yearly Dividend0.39
Dividend Growth(5Y)-6.09%
DP31.08%
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%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 13.1
Fwd PE 21.22
P/S 1.61
P/FCF 30.93
P/OCF 10.59
P/B 2.73
P/tB N/A
EV/EBITDA 7.08
EPS(TTM)1.26
EY7.64%
EPS(NY)0.78
Fwd EY4.71%
FCF(TTM)0.53
FCFY3.23%
OCF(TTM)1.56
OCFY9.44%
SpS10.26
BVpS6.05
TBVpS-5.1
PEG (NY)0.71
PEG (5Y)3.39
Profitability
Industry RankSector Rank
ROA 7.93%
ROE 20.87%
ROCE 19.04%
ROIC 12.84%
ROICexc 13.84%
ROICexgc 361.71%
OM 23.17%
PM (TTM) 12.3%
GM 92.36%
FCFM 5.2%
ROA(3y)3.79%
ROA(5y)1.21%
ROE(3y)10.62%
ROE(5y)2.99%
ROIC(3y)6.52%
ROIC(5y)N/A
ROICexc(3y)7.47%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)10.7%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5Y1.72%
OM growth 3YN/A
OM growth 5Y5.69%
PM growth 3YN/A
PM growth 5Y3.83%
GM growth 3Y-0.8%
GM growth 5Y-0.56%
F-Score6
Asset Turnover0.64
Health
Industry RankSector Rank
Debt/Equity 0.8
Debt/FCF 9.32
Debt/EBITDA 1.67
Cap/Depr 195.98%
Cap/Sales 9.98%
Interest Coverage 9.32
Cash Conversion 53.71%
Profit Quality 42.27%
Current Ratio 0.76
Quick Ratio 0.76
Altman-Z 2.46
F-Score6
WACC7.34%
ROIC/WACC1.75
Cap/Depr(3y)121.8%
Cap/Depr(5y)124.98%
Cap/Sales(3y)10.84%
Cap/Sales(5y)15.63%
Profit Quality(3y)207.69%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)10.02%
EPS 3YN/A
EPS 5Y3.86%
EPS Q2Q%-29.91%
EPS Next Y18.46%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)4.51%
Revenue growth 3Y22.25%
Revenue growth 5Y0.03%
Sales Q2Q%23.12%
Revenue Next Year8.62%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y2.03%
EBIT growth 3YN/A
EBIT growth 5Y5.72%
EBIT Next Year79.38%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-48.03%
FCF growth 3YN/A
FCF growth 5Y-3.18%
OCF growth 1Y4.86%
OCF growth 3YN/A
OCF growth 5Y-3.24%