HERA S.P.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3.364 EUR | -0.94% |
|
+4.67% | +13.19% |
| Apr. 26 | Mib up; US stocks up after PCE data | AN |
| Apr. 26 | Stock markets up; Tenaris good after quarterly report | AN |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,742 | 4,385 | 5,363 | 3,662 | 4,301 | 4,857 | - | - |
| Enterprise Value (EV) 1 | 9,192 | 7,602 | 8,773 | 8,064 | 4,301 | 8,861 | 9,050 | 9,130 |
| P/E ratio | 14.9 x | 14.5 x | 16.1 x | 14.4 x | 9.74 x | 11.9 x | 11.9 x | 11.7 x |
| Yield | 2.56% | 3.69% | 3.28% | 4.96% | - | 4.31% | 4.46% | 4.61% |
| Capitalization / Revenue | 0.83 x | 0.58 x | 0.49 x | 0.18 x | 0.28 x | 0.33 x | 0.35 x | 0.35 x |
| EV / Revenue | 1.33 x | 1.01 x | 0.8 x | 0.39 x | 0.28 x | 0.61 x | 0.65 x | 0.65 x |
| EV / EBITDA | 8.47 x | 6.77 x | 7.17 x | 6.72 x | 2.88 x | 5.92 x | 5.95 x | 5.88 x |
| EV / FCF | 46.8 x | 19.7 x | 19.2 x | -12 x | - | 31.2 x | 53.5 x | 33.6 x |
| FCF Yield | 2.14% | 5.06% | 5.21% | -8.36% | - | 3.21% | 1.87% | 2.98% |
| Price to Book | 2.05 x | 1.48 x | 1.7 x | 1.08 x | - | 1.37 x | 1.27 x | 1.23 x |
| Nbr of stocks (in thousands) | 1,472,239 | 1,471,339 | 1,464,774 | 1,453,639 | 1,447,308 | 1,443,709 | - | - |
| Reference price 2 | 3.900 | 2.980 | 3.661 | 2.519 | 2.972 | 3.364 | 3.364 | 3.364 |
| Announcement Date | 3/25/20 | 3/24/21 | 3/23/22 | 3/21/23 | 3/26/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,913 | 7,547 | 10,955 | 20,630 | 15,565 | 14,508 | 13,972 | 14,064 |
| EBITDA 1 | 1,085 | 1,123 | 1,224 | 1,201 | 1,495 | 1,496 | 1,521 | 1,554 |
| EBIT 1 | 542.5 | 551.3 | 611.7 | 533.8 | 741 | 790.5 | 790.2 | 802.2 |
| Operating Margin | 7.85% | 7.31% | 5.58% | 2.59% | 4.76% | 5.45% | 5.66% | 5.7% |
| Earnings before Tax (EBT) 1 | 442.5 | 434.6 | 491.9 | 408.8 | 656.4 | 636 | 642.2 | 651.7 |
| Net income 1 | 385.7 | 302.7 | 333.5 | 255.2 | 441.4 | 416 | 417 | 422.4 |
| Net margin | 5.58% | 4.01% | 3.04% | 1.24% | 2.84% | 2.87% | 2.98% | 3% |
| EPS 2 | 0.2620 | 0.2060 | 0.2280 | 0.1750 | 0.3050 | 0.2835 | 0.2820 | 0.2867 |
| Free Cash Flow 1 | 196.5 | 385 | 456.7 | -673.8 | - | 284.2 | 169 | 272 |
| FCF margin | 2.84% | 5.1% | 4.17% | -3.27% | - | 1.96% | 1.21% | 1.93% |
| FCF Conversion (EBITDA) | 18.11% | 34.28% | 37.32% | - | - | 19% | 11.11% | 17.51% |
| FCF Conversion (Net income) | 50.95% | 127.19% | 136.94% | - | - | 68.33% | 40.53% | 64.39% |
| Dividend per Share 2 | 0.1000 | 0.1100 | 0.1200 | 0.1250 | - | 0.1450 | 0.1500 | 0.1550 |
| Announcement Date | 3/25/20 | 3/24/21 | 3/23/22 | 3/21/23 | 3/26/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,625 | 4,320 | 2,166 | 4,470 | 5,413 | 3,483 | 8,896 | 5,424 | 5,965 | 5,750 | 2,847 | 8,597 | - | 4,169 |
| EBITDA 1 | 559.7 | 617.9 | 265.4 | 340.6 | 374 | 257.2 | 631.2 | 243.6 | 326.1 | 503.2 | 308.1 | 718.3 | 288.5 | 487.9 |
| EBIT 1 | 295.7 | 343.6 | 127.2 | - | 220 | 26.6 | 246.6 | 102.1 | 96.8 | 329.1 | 138.6 | 374.7 | 129.9 | 236.4 |
| Operating Margin | 8.16% | 7.95% | 5.87% | - | 4.06% | 0.76% | 2.77% | 1.88% | 1.62% | 5.72% | 4.87% | 4.36% | - | 5.67% |
| Earnings before Tax (EBT) 1 | 239.5 | 260 | 125.4 | - | 190.5 | 5.1 | 195.7 | -0.2 | 213.4 | - | 92.5 | 377.2 | 80.7 | 198.5 |
| Net income 1 | 166.2 | 216.1 | 92.3 | 25.1 | 126.4 | -5.8 | 120.6 | -15.2 | 149.8 | 194.4 | 59.5 | 253.9 | 47.8 | 139.7 |
| Net margin | 4.58% | 5% | 4.26% | 0.56% | 2.34% | -0.17% | 1.36% | -0.28% | 2.51% | 3.38% | 2.09% | 2.95% | - | 3.35% |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 7/29/20 | 7/28/21 | 11/10/21 | 3/23/22 | 5/11/22 | 7/27/22 | 7/27/22 | 11/9/22 | 3/21/23 | 5/10/23 | 7/26/23 | 7/26/23 | 11/9/23 | 3/26/24 |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,451 | 3,218 | 3,411 | 4,403 | - | 4,004 | 4,193 | 4,273 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.18 x | 2.865 x | 2.787 x | 3.666 x | - | 2.676 x | 2.757 x | 2.75 x |
| Free Cash Flow 1 | 197 | 385 | 457 | -674 | - | 284 | 169 | 272 |
| ROE (net income / shareholders' equity) | 14.1% | 10.5% | 10.8% | 7.74% | - | 12.9% | 11.6% | 12.2% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 1.900 | 2.020 | 2.150 | 2.340 | - | 2.460 | 2.650 | 2.740 |
| Cash Flow per Share 2 | 0.5000 | 0.6100 | 0.7200 | 0.0200 | - | 0.7800 | - | - |
| Capex 1 | 533 | 506 | 589 | 710 | - | 840 | 868 | 783 |
| Capex / Sales | 7.71% | 6.71% | 5.37% | 3.44% | - | 5.79% | 6.21% | 5.57% |
| Announcement Date | 3/25/20 | 3/24/21 | 3/23/22 | 3/21/23 | 3/26/24 | - | - | - |
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
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
3.364
EUR
Average target price
3.7
EUR
Spread / Average Target
+9.99%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +13.19% | 5.18B | |
| -20.00% | 85.7B | |
| +63.42% | 81.88B | |
| -.--% | 51.55B | |
| -0.90% | 48.58B | |
| -4.56% | 45.12B | |
| +1.14% | 41.62B | |
| +2.14% | 34.6B | |
| +10.91% | 33.81B | |
| -21.83% | 25.56B |
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- Financials Hera S.p.A.
