SARAS S.P.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.612 EUR | 0.00% |
|
-8.70% | -0.28% |
| May. 16 | SARAS : Q1: Margin revival sets the stage for a refining profit upturn ahead |  |
| May. 14 | Transcript : Saras S.p.A., Q1 2024 Earnings Call, May 14, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,351 | 559.9 | 523.8 | 1,093 | 1,537 | 1,533 | - | - |
| Enterprise Value (EV) 1 | 1,320 | 1,105 | 1,018 | 865.7 | 1,537 | 1,365 | 1,284 | 1,291 |
| P/E ratio | 51.6 x | -2.03 x | 55.6 x | 2.62 x | 4.9 x | 8.95 x | 13.7 x | 17.8 x |
| Yield | 2.79% | - | - | 16.5% | - | 7.14% | 3.97% | 3.41% |
| Capitalization / Revenue | 0.14 x | 0.1 x | 0.06 x | 0.07 x | 0.13 x | 0.13 x | 0.14 x | 0.14 x |
| EV / Revenue | 0.14 x | 0.21 x | 0.12 x | 0.05 x | 0.13 x | 0.12 x | 0.11 x | 0.12 x |
| EV / EBITDA | 4.21 x | -53.1 x | 18.8 x | 0.76 x | 2.29 x | 2.84 x | 3.4 x | 3.7 x |
| EV / FCF | 12.5 x | -2.04 x | 12.9 x | 1.12 x | - | 11.7 x | 5.27 x | 23.2 x |
| FCF Yield | 7.98% | -49% | 7.74% | 89.2% | - | 8.52% | 19% | 4.32% |
| Price to Book | 1.28 x | 0.71 x | 0.66 x | 0.9 x | - | 1.09 x | 1.11 x | 1.08 x |
| Nbr of stocks (in thousands) | 941,780 | 941,780 | 951,000 | 951,000 | 951,000 | 951,000 | - | - |
| Reference price 2 | 1.434 | 0.5945 | 0.5508 | 1.149 | 1.616 | 1.612 | 1.612 | 1.612 |
| Announcement Date | 3/2/20 | 3/30/21 | 3/14/22 | 3/15/23 | 3/15/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 9,639 | 5,342 | 8,636 | 15,836 | 11,443 | 11,550 | 11,206 | 11,117 |
| EBITDA 1 | 313.8 | -20.8 | 54.1 | 1,137 | 669.7 | 480.9 | 377.9 | 349 |
| EBIT 1 | 115.1 | -238.9 | -144.5 | 945.3 | 468.6 | 274 | 167.8 | 131.6 |
| Operating Margin | 1.19% | -4.47% | -1.67% | 5.97% | 4.09% | 2.37% | 1.5% | 1.18% |
| Earnings before Tax (EBT) 1 | 35.31 | -354.9 | 32.21 | 889.2 | 420.9 | 257.7 | 171.8 | 143.5 |
| Net income 1 | 26.2 | -275.5 | 9.334 | 416.9 | 313.9 | 179.3 | 120.3 | 100.1 |
| Net margin | 0.27% | -5.16% | 0.11% | 2.63% | 2.74% | 1.55% | 1.07% | 0.9% |
| EPS 2 | 0.0278 | -0.2925 | 0.009900 | 0.4384 | 0.3301 | 0.1800 | 0.1175 | 0.0905 |
| Free Cash Flow 1 | 105.4 | -541.1 | 78.76 | 772 | - | 116.2 | 243.5 | 55.75 |
| FCF margin | 1.09% | -10.13% | 0.91% | 4.88% | - | 1.01% | 2.17% | 0.5% |
| FCF Conversion (EBITDA) | 33.59% | - | 145.58% | 67.92% | - | 24.16% | 64.44% | 15.97% |
| FCF Conversion (Net income) | 402.26% | - | 843.76% | 185.17% | - | 64.8% | 202.47% | 55.68% |
| Dividend per Share 2 | 0.0400 | - | - | 0.1900 | - | 0.1150 | 0.0640 | 0.0550 |
| Announcement Date | 3/2/20 | 3/30/21 | 3/14/22 | 3/15/23 | 3/15/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | - | - | - | - | 3,871 | - | - | - | - | - | - |
| EBITDA 1 | 71.7 | 8.3 | 43.5 | 62 | 458.6 | 520.6 | 296.4 | 319.7 | 285.3 | 27.1 | 312.4 | 247.2 | 110.1 | 198.1 |
| EBIT 1 | -29 | -86.8 | -8.6 | 16.4 | 411.4 | 427.8 | 248 | 269.5 | 238.9 | -20.9 | 218 | 196.7 | 53.9 | 148.7 |
| Operating Margin | - | - | - | - | - | - | - | 6.96% | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | -0.424 | 86.75 | 106.4 | 446.5 | 552.9 | 259.5 | 76.76 | 196.5 | - | - | - | 31.39 | - |
| Net income | -180.6 | 0.5 | 44.17 | 76.6 | 215.9 | 292.5 | 54.7 | - | - | - | - | 151.2 | 40.3 | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 7/30/20 | 8/3/21 | 3/14/22 | 5/16/22 | 7/29/22 | 7/29/22 | 10/28/22 | 3/15/23 | 5/10/23 | 7/31/23 | 7/31/23 | 11/8/23 | 3/15/24 | 5/14/24 |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 545 | 494 | - | - | - | - | - |
| Net Cash position 1 | 30.3 | - | - | 227 | - | 168 | 248 | 242 |
| Leverage (Debt/EBITDA) | - | -26.2 x | 9.131 x | - | - | - | - | - |
| Free Cash Flow 1 | 105 | -541 | 78.8 | 772 | - | 116 | 244 | 55.8 |
| ROE (net income / shareholders' equity) | 6.22% | -29.9% | -17.2% | 35.4% | - | 13.2% | 9.35% | 6.95% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 1.120 | 0.8300 | 0.8400 | 1.270 | - | 1.470 | 1.450 | 1.500 |
| Cash Flow per Share | 0.4700 | -0.3400 | 0.1700 | 0.9200 | - | - | - | - |
| Capex 1 | 341 | 256 | 77.8 | 106 | - | 211 | 241 | 239 |
| Capex / Sales | 3.53% | 4.79% | 0.9% | 0.67% | - | 1.83% | 2.15% | 2.15% |
| Announcement Date | 3/2/20 | 3/30/21 | 3/14/22 | 3/15/23 | 3/15/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
1.612
EUR
Average target price
1.75
EUR
Spread / Average Target
+8.59%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -0.28% | 1.66B | |
| +2.18% | 21.42B | |
| +34.48% | 11.67B | |
| +3.01% | 10.86B | |
| +32.18% | 9.07B | |
| -5.24% | 7.46B | |
| +59.02% | 4.41B | |
| +1.77% | 3.36B | |
| +20.20% | 3.26B | |
| -1.95% | 2.99B |
- Stock Market
- Equities
- SRS Stock
- Financials Saras S.p.A.
