Caltagirone Editore
Caltagirone Editore SpA operates as a newspapers publishing company in Italy. The last earnings update was 132 days ago. More info.
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CED Share Price and Events
7 Day Returns
1 Year Returns
CED Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Caltagirone Editore (CED) | 2.8% | 6.3% | -0.5% | -1.4% | 55.7% | 30.5% |
| IT Media | 0.9% | 5.5% | 8.7% | 14% | -4% | -8% |
| IT Market | 1.1% | -1.2% | 4.7% | 20% | 7.4% | -14.1% |
1 Year Return vs Industry and Market
- CED underperformed the Media industry which returned 14% over the past year.
- CED underperformed the Market in Italy which returned 20% over the past year.
Value
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
Caltagirone Editore
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Caltagirone Editore.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Extrapolated from most recent financials. | See below |
| Discount Rate (Cost of Equity) | See below | 8.7% |
| Perpetual Growth Rate | 10-Year IT Government Bond Rate | 1.2% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year IT Govt Bond Rate | 1.2% |
| Equity Risk Premium | S&P Global | 8.2% |
| Media Unlevered Beta | Simply Wall St/ S&P Global | 0.76 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.759 (1 + (1- 24%) (17.98%)) |
0.908 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.91 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.21% + (0.908 * 8.23%) |
8.68% |
Discounted Cash Flow Calculation for BIT:CED using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Caltagirone Editore is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Note: Free cash flow to equity valuations ignore the company's cash or debt.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 8.68%) |
|
|---|---|---|---|
| 2020 | 3.55 | Est @ 85.91% | 3.27 |
| 2021 | 5.70 | Est @ 60.5% | 4.83 |
| 2022 | 8.14 | Est @ 42.71% | 6.34 |
| 2023 | 10.60 | Est @ 30.26% | 7.60 |
| 2024 | 12.88 | Est @ 21.55% | 8.50 |
| 2025 | 14.87 | Est @ 15.45% | 9.02 |
| 2026 | 16.53 | Est @ 11.17% | 9.23 |
| 2027 | 17.89 | Est @ 8.19% | 9.19 |
| 2028 | 18.98 | Est @ 6.09% | 8.97 |
| 2029 | 19.86 | Est @ 4.63% | 8.63 |
| Present value of next 10 years cash flows | €75.00 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= €19.86 × (1 + 1.21%) ÷ (8.68% – 1.21%) |
€268.88 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €268.88 ÷ (1 + 8.68%)10 |
€116.92 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €75.00 + €116.92 |
€191.92 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €191.92 / 106.79 |
€1.8 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €1.80 |
| Current discount | Discount to share price of
€1.10
= -1 x (€1.10 - €1.80) / €1.80 |
39.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Caltagirone Editore's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Caltagirone Editore's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Caltagirone Editore's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Caltagirone Editore's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-06-30) in EUR | €-0.08 |
| BIT:CED Share Price ** | BIT (2019-12-11) in EUR | €1.1 |
| Italy Media Industry PE Ratio | Median Figure of 13 Publicly-Listed Media Companies | 11.83x |
| Italy Market PE Ratio | Median Figure of 248 Publicly-Listed Companies | 18.55x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Caltagirone Editore.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = BIT:CED Share Price ÷ EPS (both in EUR) = 1.1 ÷ -0.08 |
-13.93x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Caltagirone Editore is loss making, we can't compare its value to the IT Media industry average.
- Caltagirone Editore is loss making, we can't compare the value of its earnings to the Italy market.
Price based on expected Growth
Does
Caltagirone Editore's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -13.93x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
Not available |
| Italy Media Industry PEG Ratio | Median Figure of 7 Publicly-Listed Media Companies | 1.79x |
| Italy Market PEG Ratio | Median Figure of 169 Publicly-Listed Companies | 1.31x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Caltagirone Editore, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Caltagirone Editore's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-06-30) in EUR | €4.02 |
| BIT:CED Share Price * | BIT (2019-12-11) in EUR | €1.1 |
| Italy Media Industry PB Ratio | Median Figure of 22 Publicly-Listed Media Companies | 1.24x |
| Italy Market PB Ratio | Median Figure of 326 Publicly-Listed Companies | 1.53x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = BIT:CED Share Price ÷ Book Value per Share (both in EUR) = 1.1 ÷ 4.02 |
0.27x |
* Primary Listing of Caltagirone Editore.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Caltagirone Editore is good value based on assets compared to the IT Media industry average.
Value checks
We assess Caltagirone Editore's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Media industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Media industry average (and greater than 0)? (1 check) Caltagirone Editore has a total score of 2/6, 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.
Future Performance
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Caltagirone Editore has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Show me the analysis anyway
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!
Earnings growth vs Low Risk Savings
- Unable to compare Caltagirone Editore's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
- Unable to compare Caltagirone Editore's earnings growth to the Italy market average as no estimate data is available.
- Unable to compare Caltagirone Editore's revenue growth to the Italy market average as no estimate data is available.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| Italy Media Industry Earnings Growth Rate | Market Cap Weighted Average | 15.7% |
| Italy Media Industry Revenue Growth Rate | Market Cap Weighted Average | 0.7% |
| Italy Market Earnings Growth Rate | Market Cap Weighted Average | 8.8% |
| Italy Market Revenue Growth Rate | Market Cap Weighted Average | 3.1% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-06-30 | 138 | 4 | -9 |
| 2019-03-31 | 140 | 5 | -9 |
| 2018-12-31 | 142 | 5 | -8 |
| 2018-09-30 | 143 | -18 | |
| 2018-06-30 | 145 | 1 | -27 |
| 2018-03-31 | 149 | -1 | -29 |
| 2017-12-31 | 153 | -2 | -30 |
| 2017-09-30 | 156 | -73 | |
| 2017-06-30 | 153 | -3 | -62 |
| 2017-03-31 | 154 | -58 | |
| 2016-12-31 | 151 | -2 | -62 |
| 2016-09-30 | 153 | -26 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from Caltagirone Editore Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2019-06-30 | -0.08 |
| 2019-03-31 | -0.07 |
| 2018-12-31 | -0.07 |
| 2018-09-30 | -0.15 |
| 2018-06-30 | -0.22 |
| 2018-03-31 | -0.23 |
| 2017-12-31 | -0.24 |
| 2017-09-30 | -0.59 |
| 2017-06-30 | -0.51 |
| 2017-03-31 | -0.48 |
| 2016-12-31 | -0.51 |
| 2016-09-30 |
*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.
- Unable to establish if Caltagirone Editore will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Caltagirone Editore's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Italy market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Italy market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Caltagirone Editore has a total score of 0/6, 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.
Past Performance
How has Caltagirone Editore 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
Past Earnings growth analysis
- Caltagirone Editore does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
- Unable to compare Caltagirone Editore's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Caltagirone Editore's 1-year growth to the IT Media industry average as it is not currently profitable.
Earnings and Revenue History
All data from Caltagirone Editore Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-06-30 | 138.44 | -8.87 | 6.01 | |
| 2019-03-31 | 140.08 | -8.58 | 7.10 | |
| 2018-12-31 | 141.73 | -8.30 | 8.19 | |
| 2018-09-30 | 143.48 | -17.86 | 8.65 | |
| 2018-06-30 | 145.48 | -27.42 | 9.11 | |
| 2018-03-31 | 149.19 | -28.53 | 9.20 | |
| 2017-12-31 | 152.91 | -29.63 | 9.29 | |
| 2017-09-30 | 155.81 | -72.71 | 22.21 | |
| 2017-06-30 | 152.79 | -62.16 | 12.47 | |
| 2017-03-31 | 153.83 | -58.40 | 17.56 | |
| 2016-12-31 | 151.42 | -62.44 | 15.53 | |
| 2016-09-30 | 152.91 | -25.76 | 14.54 | |
| 2016-06-30 | 157.69 | -21.02 | 16.03 | |
| 2016-03-31 | 158.45 | -20.31 | 14.54 | |
| 2015-12-31 | 161.19 | -20.13 | 14.54 | |
| 2015-09-30 | 163.81 | -29.70 | 13.42 | |
| 2015-06-30 | 164.62 | -31.56 | 14.00 | |
| 2015-03-31 | 166.27 | -36.37 | 13.42 | |
| 2014-12-31 | 167.67 | -37.19 | 13.42 | |
| 2014-09-30 | 168.18 | -76.45 | 12.63 | |
| 2014-06-30 | 171.45 | -76.76 | 12.95 | |
| 2014-03-31 | 174.30 | -75.25 | 12.63 | |
| 2013-12-31 | 177.49 | -75.43 | 12.63 | |
| 2013-09-30 | 177.53 | -43.46 | 13.11 | |
| 2013-06-30 | 178.92 | -53.32 | 12.79 | |
| 2013-03-31 | 182.39 | -61.93 | 13.11 | |
| 2012-12-31 | 189.88 | -60.98 | 13.11 |
*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.
- It is difficult to establish if Caltagirone Editore has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- It is difficult to establish if Caltagirone Editore has efficiently used its assets last year compared to the IT Media industry average (Return on Assets) as it is loss-making.
- It is difficult to establish if Caltagirone Editore improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Caltagirone Editore's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Media industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Caltagirone Editore has a total score of 0/6, 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.
Health
How is Caltagirone Editore'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 Caltagirone Editore's finances.
The net worth of a company is the difference between its assets and liabilities.
- Caltagirone Editore is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Caltagirone Editore's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 19.8x 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.
All data from Caltagirone Editore Company Filings, last reported 5 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-06-30 | 429.24 | 7.91 | 111.73 |
| 2019-03-31 | 429.24 | 7.91 | 111.73 |
| 2018-12-31 | 415.18 | 10.56 | 109.66 |
| 2018-09-30 | 415.18 | 10.56 | 109.66 |
| 2018-06-30 | 445.52 | 8.18 | 130.01 |
| 2018-03-31 | 445.52 | 8.18 | 130.01 |
| 2017-12-31 | 448.77 | 8.01 | 136.50 |
| 2017-09-30 | 448.77 | 8.01 | 136.50 |
| 2017-06-30 | 473.85 | 12.06 | 147.60 |
| 2017-03-31 | 473.85 | 12.06 | 147.60 |
| 2016-12-31 | 472.33 | 16.60 | 151.03 |
| 2016-09-30 | 501.50 | 34.98 | 162.46 |
| 2016-06-30 | 501.50 | 34.98 | 162.46 |
| 2016-03-31 | 559.93 | 34.82 | 157.81 |
| 2015-12-31 | 559.93 | 34.82 | 157.81 |
| 2015-09-30 | 586.55 | 33.03 | 158.09 |
| 2015-06-30 | 586.55 | 33.03 | 158.09 |
| 2015-03-31 | 586.54 | 29.31 | 155.49 |
| 2014-12-31 | 586.54 | 29.31 | 155.49 |
| 2014-09-30 | 619.28 | 54.61 | 187.08 |
| 2014-06-30 | 619.28 | 54.61 | 187.08 |
| 2014-03-31 | 625.71 | 49.20 | 186.63 |
| 2013-12-31 | 625.71 | 49.20 | 186.63 |
| 2013-09-30 | 665.21 | 46.42 | 188.31 |
| 2013-06-30 | 665.21 | 46.42 | 188.31 |
| 2013-03-31 | 670.62 | 36.08 | 188.90 |
| 2012-12-31 | 670.62 | 36.06 | 188.90 |
- Caltagirone Editore's level of debt (1.8%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (8.7% vs 1.8% today).
CASH RUNWAY ANALYSIS
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
- Whilst loss making Caltagirone Editore has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
- Whilst loss making Caltagirone Editore has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -63.7% per year.
Financial health checks
We assess Caltagirone Editore's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Caltagirone Editore has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
Dividends
What is Caltagirone Editore'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
If you bought
€2,000 of
Caltagirone Editore
shares you are expected to receive
€0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate Caltagirone Editore's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate Caltagirone Editore's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
| 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 0 Analyst Estimates (S&P Global) | See Below |
| Italy Media Industry Average Dividend Yield | Market Cap Weighted Average of 6 Stocks | 4.2% |
| Italy Market Average Dividend Yield | Market Cap Weighted Average of 177 Stocks | 4.2% |
| Italy Minimum Threshold Dividend Yield | 10th Percentile | 1% |
| Italy Bottom 25% Dividend Yield | 25th Percentile | 2% |
| Italy Top 25% Dividend Yield | 75th Percentile | 4.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2013-11-15 | 0.000 | 0.000 |
| 2013-08-07 | 0.000 | 0.000 |
| 2013-05-15 | 0.000 | 0.000 |
| 2013-04-08 | 0.000 | 0.000 |
| 2012-08-03 | 0.030 | 3.382 |
| 2012-04-04 | 0.030 | 3.523 |
| 2012-03-15 | 0.030 | 2.885 |
| 2011-03-15 | 0.050 | 4.017 |
| 2010-04-09 | 0.050 | 2.739 |
| 2010-03-23 | 0.050 | 2.559 |
| 2009-03-25 | 0.050 | 2.699 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as Caltagirone Editore has not reported any payouts.
- Unable to verify if Caltagirone Editore's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess Caltagirone Editore's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Caltagirone Editore afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Caltagirone Editore has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | €6,000 |
| AGE | 74 |
| TENURE AS CEO | 2.5 years |
CEO Bio
Mr. Albino Majore has been Chief Executive Officer and Director of Caltagirone Editore SpA since June 16, 2017. Mr. Majore serves as a Director of Caltagirone SpA, Vianini Lavori SpA and Caltagirone Editore SpA. Mr. Majoreserved as Chairman of the Board at Vianini S.p.A until 2019
CEO Compensation
- Albino's compensation has increased whilst company is loss making.
- Albino's remuneration is lower than average for companies of similar size in Italy.
Management Team
Albino Majore
CEO & Director
€6K
74
2.5 yrs
Fabrizio Caprara
Executive Officer for Financial Reporting
3.6 yrs
Board of Directors Tenure
Average tenure and age of the Caltagirone Editore board of directors in years:
- The average tenure for the Caltagirone Editore board of directors is less than 3 years, this suggests a new board.
Board of Directors
Francesco Gianni
Independent Chairman
68
2.5 yrs
Albino Majore
CEO & Director
€6K
74
2.5 yrs
Azzurra Caltagirone
Vice Chairman
€250K
46
1.9 yrs
Massimo Confortini
Independent Director
€30K
65
1.7 yrs
Matteo Tiezzi
Chairman of Board of Statutory Auditors
53
1.7 yrs
Mario Delfini
Director
€126K
79
Francesco Caltagirone
Director
51
1.7 yrs
Alessandro Caltagirone
Director
50
1.7 yrs
Tatiana Caltagirone
Director
52
Antonio Catricalà
Independent Director
67
2.6 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Caltagirone Editore's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Caltagirone Editore 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.
News
Simply Wall St News
We Think Caltagirone Editore (BIT:CED) Has Us A Very Heavy Debt Load
We note that Caltagirone Editore SpA (BIT:CED) does have debt on its balance sheet. … As you can see below, at the end of December 2018, Caltagirone Editore had €10.6m of debt, up from €8.01m a year ago. … Zooming in on the latest balance sheet data, we can see that Caltagirone Editore had liabilities of €58.1m due within 12 months and liabilities of €70.7m due beyond that.
Simply Wall St - – Full articleCan You Imagine How Caltagirone Editore's (BIT:CED) Shareholders Feel About The 33% Share Price Increase?
For example, the Caltagirone Editore SpA (BIT:CED) share price is up 33% in the last three years, clearly besting than the market return of around -0.3% (not including dividends). … See our latest analysis for Caltagirone Editore Caltagirone Editore isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last 3 years Caltagirone Editore saw its revenue shrink by 4.6% per year.
Simply Wall St - – Full articleHow Financially Strong Is Caltagirone Editore SpA (BIT:CED)?
While small-cap stocks, such as Caltagirone Editore SpA (BIT:CED) with its market cap of €158.28m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.
Simply Wall St - – Full articleWill You Be Burnt By Caltagirone Editore SpA's (BIT:CED) Cash Burn?
The measure of how fast Caltagirone Editore goes through its cash reserves over time is called the cash burn rate. … BIT:CED Income Statement May 8th 18 When will Caltagirone Editore need to raise more cash? … Next Steps: My analysis shows us that Caltagirone Editore will still not need to come to market any time soon, at its current level of opex growth and cash reserves.
Simply Wall St - – Full articleWho Are Caltagirone Editore SpA's (BIT:CED) Major Shareholders?
In this analysis, my focus will be on developing a perspective on Caltagirone Editore SpA’s (BIT:CED) latest ownership structure, a less discussed, but important factor. … Insider Ownership I find insiders are another important group of stakeholders, who are directly involved in making key decisions related to the use of capital. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: Although CED has a low level of overall institutional ownership, active hedge funds still have a significant stake in the company.
Simply Wall St - – Full articleDoes Caltagirone Editore SpA (BIT:CED) Fall With The Market?
A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … See our latest analysis for Caltagirone Editore An interpretation of CED's beta Caltagirone Editore's beta of 0.63 indicates that the stock value will be less variable compared to the whole stock market. … CED’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio.
Simply Wall St - – Full articleHow Financially Strong Is Caltagirone Editore SpA (BIT:CED)?
Over the past year, CED has reduced its debt from €16.60M to €8.01M – this includes both the current and long-term debt. … With current liabilities at €55.91M, it appears that the company has been able to meet these commitments with a current assets level of €189.51M, leading to a 3.39x current account ratio. … BIT:CED Historical Debt Apr 12th 18 Is CED’s debt level acceptable?
Simply Wall St - – Full articleDid Caltagirone Editore SpA's (BIT:CED) Earnings Growth Outperform The Industry?
Assessing Caltagirone Editore SpA's (BIT:CED) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how Caltagirone Editore is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its media industry peers. … Check out our latest analysis for Caltagirone Editore Were CED's earnings stronger than its past performances and the industry?
Simply Wall St - – Full articleCompany Info
Description
Caltagirone Editore SpA operates as a newspapers publishing company in Italy. The company publishes newspapers, including Il Messaggero, Il Mattino, Leggo, Il Gazzettino, Il Corriere Adriatico, and Nuovo Quotidiano di Puglia; and operates online versions of its titles through ilmessaggero.it, ilmattino.it, ilgazzettino.it, corriereadriatico.it, quotidianodipuglia.it, and leggo.it Websites. It also provides advertising agency services. Caltagirone Editore SpA was incorporated in 1999 and is headquartered in Rome, Italy.
Details
| Name: | Caltagirone Editore SpA |
| CED | |
| Exchange: | BIT |
| Founded: | 1999 |
| €116,935,336 | |
| 106,790,262 | |
| Website: | http://www.caltagironeeditore.com |
| Address: |
Caltagirone Editore SpA Via Barberini, No. 28, Rome, Rome, 00187, Italy |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| BIT | CED | Common Stock | Borsa Italiana | IT | EUR | 07. Jul 2000 | |
| LSE | 0DXJ | Common Stock | London Stock Exchange | GB | EUR | 07. Jul 2000 | |
| BATS-CHIXE | CEDM | Common Stock | BATS 'Chi-X Europe' | GB | EUR | 07. Jul 2000 |
Number of employees
Current staff
Industry
| Publishing | |
| Media |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/12/11 20:42 |
| End of day share price update: | 2019/12/11 00:00 |
| Last earnings filing: | 2019/08/01 |
| Last earnings reported: | 2019/06/30 |
| Last annual earnings reported: | 2018/12/31 |
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.
