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Avio

BATS-CHIXE:AVIOM
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AVIOM
BATS-CHIXE
€309M
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Avio S.p.A., through its subsidiaries, engages in the construction and development of space launchers, and solid and liquid propulsion systems for space travel in Italy and internationally. The last earnings update was 13 days ago. More info.


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  • Avio has significant price volatility in the past 3 months.
AVIOM Share Price and Events
7 Day Returns
4.2%
BATS-CHIXE:AVIOM
0.6%
GB Aerospace & Defense
0.1%
GB Market
1 Year Returns
-4.9%
BATS-CHIXE:AVIOM
-0.8%
GB Aerospace & Defense
-23.6%
GB Market
AVIOM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Avio (AVIOM) 4.2% -7.2% -13.7% -4.9% -15.5% -
GB Aerospace & Defense 0.6% -15.8% -19.2% -0.8% -15.2% -21.8%
GB Market 0.1% -15.5% -27% -23.6% -24.3% -23.5%
1 Year Return vs Industry and Market
  • AVIOM underperformed the Aerospace & Defense industry which returned -0.8% over the past year.
  • AVIOM outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -23.6% over the past year.
Price Volatility
AVIOM
Industry
5yr Volatility vs Market
Related Companies

AVIOM Value

 Is Avio undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Avio to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Avio.

BATS-CHIXE:AVIOM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in EUR € 0.497
Payout Ratio Company Filings (2019-12-31) 4365.4%
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BATS-CHIXE:AVIOM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 8.2%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.846 (1 + (1- 24%) (27.95%))
1.075
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.075 * 8.23%)
9.38%

Discounted Cash Flow Calculation for BATS-CHIXE:AVIOM using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Avio is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

BATS-CHIXE:AVIOM Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= €0.5 / (9.38% - 0.53%)
€5.81
BATS-CHIXE:AVIOM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:AVIOM represents 1.01707x of BIT:AVIO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01707x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 5.62 x 1.01707
€5.71
Value per share (EUR) From above. €5.71
Current discount Discount to share price of €11.92
= -1 x (€11.92 - €5.71) / €5.71
-108.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Avio is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Avio's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Avio's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:AVIOM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.96
BIT:AVIO Share Price ** BIT (2020-04-07) in EUR €11.72
United Kingdom of Great Britain and Northern Ireland Aerospace & Defense Industry PE Ratio Median Figure of 9 Publicly-Listed Aerospace & Defense Companies 17.96x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Avio.

BATS-CHIXE:AVIOM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:AVIO Share Price ÷ EPS (both in EUR)

= 11.72 ÷ 0.96

12.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Avio is good value based on earnings compared to the GB Aerospace & Defense industry average.
  • Avio is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Avio's expected growth come at a high price?
Raw Data
BATS-CHIXE:AVIOM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
8.6%per year
United Kingdom of Great Britain and Northern Ireland Aerospace & Defense Industry PEG Ratio Median Figure of 8 Publicly-Listed Aerospace & Defense Companies 2.01x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 517 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:AVIOM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.27x ÷ 8.6%

1.42x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Avio is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Avio's assets?
Raw Data
BATS-CHIXE:AVIOM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €10.60
BIT:AVIO Share Price * BIT (2020-04-07) in EUR €11.72
United Kingdom of Great Britain and Northern Ireland Aerospace & Defense Industry PB Ratio Median Figure of 13 Publicly-Listed Aerospace & Defense Companies 2.12x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.11x
BATS-CHIXE:AVIOM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:AVIO Share Price ÷ Book Value per Share (both in EUR)

= 11.72 ÷ 10.60

1.11x

* Primary Listing of Avio.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Avio is good value based on assets compared to the GB Aerospace & Defense industry average.
X
Value checks
We assess Avio's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Avio has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AVIOM Future Performance

 How is Avio expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Avio expected to grow at an attractive rate?
  • Avio's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Avio's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Avio's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:AVIOM Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:AVIOM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 8.6%
BATS-CHIXE:AVIOM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 5.6%
United Kingdom of Great Britain and Northern Ireland Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
United Kingdom of Great Britain and Northern Ireland Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.5%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BATS-CHIXE:AVIOM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:AVIOM Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 474 55 36 1
2022-12-31 455 55 33 1
2021-12-31 447 47 30 2
2020-12-31 350 43 25 1
2020-04-07
BATS-CHIXE:AVIOM Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 391 66 26
2019-09-30 410 55 26
2019-06-30 429 45 25
2019-03-31 434 43 25
2018-12-31 440 42 24
2018-06-30 477 19 23
2018-03-31 426 12 21
2017-12-31 376 6 19
2017-06-30 101 -13 1
2017-03-31 51 -5 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Avio's earnings are expected to grow by 8.6% yearly, however this is not considered high growth (20% yearly).
  • Avio's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BATS-CHIXE:AVIOM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Avio Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:AVIOM Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.12 1.14 1.10 2.00
2020-12-31 0.71 0.71 0.71 1.00
2020-04-07
BATS-CHIXE:AVIOM Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31
2019-09-30
2019-06-30 0.96
2019-03-31 0.94
2018-12-31 0.92
2018-06-30 0.89
2018-03-31 0.83
2017-12-31 0.78
2017-06-30 0.05
2017-03-31 0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Avio is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Avio's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Avio has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AVIOM Past Performance

  How has Avio performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Avio's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Avio has delivered over 20% year on year earnings growth in the past 5 years.
  • Avio's 1-year earnings growth is less than its 5-year average (7.6% vs 52.8%)
  • Avio's earnings growth has not exceeded the GB Aerospace & Defense industry average in the past year (7.6% vs 12.4%).
Earnings and Revenue History
Avio's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Avio Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:AVIOM Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 391.12 26.20 69.76
2019-09-30 409.90 25.69 68.69
2019-06-30 428.69 25.18 67.61
2019-03-31 434.19 24.76 66.22
2018-12-31 439.70 24.34 64.83
2018-06-30 476.69 23.28 72.32
2018-03-31 426.33 21.33 63.86
2017-12-31 375.98 19.39 55.41
2017-06-30 101.29 1.43 16.75
2017-03-31 50.64 0.55 8.38
2016-12-31 -0.33
2015-12-31 0.52 0.02

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Avio has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Avio used its assets less efficiently than the GB Aerospace & Defense industry average last year based on Return on Assets.
  • Avio has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Avio's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Avio has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AVIOM Health

 How is Avio's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Avio's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Avio is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Avio's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Avio's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Avio Company Filings, last reported 3 months ago.

BATS-CHIXE:AVIOM Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 303.88 78.82 144.30
2019-09-30 303.88 78.82 144.30
2019-06-30 286.58 66.82 93.83
2019-03-31 286.58 66.82 93.83
2018-12-31 295.99 59.31 108.43
2018-06-30 276.16 51.81 73.51
2018-03-31 276.16 51.81 73.51
2017-12-31 282.21 65.32 107.03
2017-06-30 261.80 56.45 92.33
2017-03-31 261.80 56.45 92.33
2016-12-31 305.06 0.00 184.44
2015-12-31 305.39 0.00 184.20
  • Avio's level of debt (25.9%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Avio's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (83.2%, greater than 20% of total debt).
  • Avio earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Avio's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Avio has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AVIOM Dividends

 What is Avio's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.75%
Current annual income from Avio dividends. Estimated to be 4.24% next year.
If you bought €2,000 of Avio shares you are expected to receive €75 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Avio's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.59%).
  • Avio's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.08%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BATS-CHIXE:AVIOM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 3.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 Stocks 5.6%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.6%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BATS-CHIXE:AVIOM Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.53 2.00
2020-12-31 0.44 1.00
2020-04-07
BATS-CHIXE:AVIOM Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-15 0.440 3.425
2018-04-03 0.380 2.974
2018-03-15 0.380 2.832

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Avio has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Avio only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Avio's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Avio's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Avio afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Avio has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AVIOM Management

 What is the CEO of Avio's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Giulio Ranzo
CEO Bio

Dr. Giulio Ranzo, Ph.D. has been the Chief Executive Officer at Avio S.p.A. since October 2, 2015. Dr. Ranzo served as a General Manager at Avio S.p.A. since October 2, 2015. Dr. Ranzo served as a Director of Strategy, Marketing & Government Affairs at Avio Aero. He served as the Chief Financial Officer and Co-General Manager of the Italian activities of Cementir Holding since 2007 until 2011. He has been in Avio since 2011 and has held various positions as Senior Vice President of Corporate Strategy since 2011 until 2013, Investor Relations Officer since 2012 and Board Member since 2013. He has managed Avio’s Initial Public Offering preparation and clearance process since 2011 until 2012. He has started his career in Booz Allen Hamilton, a strategy consulting company leader in the Aerospace&Defense Sector, where he has held the roles of Associate, Senior Associate and Principal between 2000 and 2007. He has worked as Graduate Research Assistant at the University of California San Diego since 1996 until 1999. In those years he has developed business strategy projects for major European companies and institutions operating in Commercial and Military Aerospace, Space Launchers and Technologies, Defense Electronics, Business Jets and General Aviation. He served as a Board Member of Europropulsion, the ASL (Airbus Safran Launchers) - Avio Joint Venture for Space propulsion since 2011 until 2013. He serves as a Director at Avio S.p.A. He holds a Master Degree in Civil Engineering from the University of Rome (1995) and a PhD in Structural Engineering (2000) from a joint program with the University of California San Diego.

CEO Compensation
  • Insufficient data for Giulio to compare compensation growth.
  • Insufficient data for Giulio to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Giulio Ranzo

TITLE
CEO, GM & Director
Board of Directors

Roberto Italia

TITLE
Chairman of the Board
AGE
53

Giulio Ranzo

TITLE
CEO, GM & Director

Riccardo Bauer

TITLE
Chairman of Board of Statutory Auditors

Giovanni Tempini

TITLE
Independent Director

Maria Bonifacio

TITLE
Independent Director

Luigi Pasquali

TITLE
Director
AGE
62

Monica Auteri

TITLE
Independent Director

Donatella Sciuto

TITLE
Independent Director
AGE
57

Stefano Ratti

TITLE
Director

Vittorio Rabajoli

TITLE
Director
AGE
59
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
15. Apr 19 Buy In Orbit Company 10. Apr 19 12. Apr 19 8,821 €12.54 €108,598
11. Apr 19 Buy In Orbit Company 08. Apr 19 09. Apr 19 23,000 €12.61 €288,265
X
Management checks
We assess Avio's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Avio has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AVIOM News

Simply Wall St News

AVIOM Company Info

Description

Avio S.p.A., through its subsidiaries, engages in the construction and development of space launchers, and solid and liquid propulsion systems for space travel in Italy and internationally. The company offers propulsion boosters, liquid oxygen turbo pumps, and aerodynamic control surfaces, motors, as well as tactical products, such as sensor block and ECU. It offers space launchers under the VEGA and ARIANE names. The company was founded in 1984 and is based in Rome, Italy.

Details
Name: Avio S.p.A.
AVIOM
Exchange: BATS-CHIXE
Founded: 1984
€308,931,535
26,359,346
Website: http://www.avio.com
Address: Avio S.p.A.
via Leonida Bissolati No. 76,
Rome,
Rome, 00187,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT AVIO Ordinary Shares Borsa Italiana IT EUR 31. Jul 2015
DB 2ZP Ordinary Shares Deutsche Boerse AG DE EUR 31. Jul 2015
LSE 0R9S Ordinary Shares London Stock Exchange GB EUR 31. Jul 2015
BATS-CHIXE AVIOM Ordinary Shares BATS 'Chi-X Europe' GB EUR 31. Jul 2015
Number of employees
Current staff
Staff numbers
1,000
Avio employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:57
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/03/25
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.