Fine Foods & Pharmaceuticals N.T.M. SpA (IT:FF)
:FF
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Fine Foods & Pharmaceuticals N.T.M. SpA
(FF)
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Rating:52Neutral
Price Target:
€8.00
▼(-14.89% Downside)
Action:Reiterated
Date:05/10/26
The score is held back mainly by negative free cash flow despite positive operating cash flow and by a technically weak setup with the stock trading below all major moving averages and bearish momentum signals. Offsetting factors include a recovered (but modest) profitability profile, moderate leverage, and a supportive dividend yield, though valuation remains less clear with a negative P/E.
Positive Factors
Contract manufacturing business model
FF's core business is contract development and manufacturing for nutraceutical and pharmaceutical clients, a service-oriented model that generates recurring revenue from production volumes and long-term client contracts. This asset-light, fee-for-service model supports steady demand and client stickiness over multiple quarters.
Negative Factors
Negative free cash flow
Despite positive operating cash, free cash flow turned negative in recent periods, indicating heavy reinvestment or working-capital absorption. Persistent negative FCF reduces ability to pay down debt, sustain dividends, or fund growth internally, increasing reliance on external financing over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Contract manufacturing business model
FF's core business is contract development and manufacturing for nutraceutical and pharmaceutical clients, a service-oriented model that generates recurring revenue from production volumes and long-term client contracts. This asset-light, fee-for-service model supports steady demand and client stickiness over multiple quarters.
Read all positive factors
Fine Foods & Pharmaceuticals N.T.M. SpA (FF) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€197.49M
Dividend Yield1.48%
Average Volume (3M)32.76K
Price to Earnings (P/E)55.8
Beta (1Y)0.37
Revenue Growth2.62%
EPS Growth-26.43%
CountryIT
Employees779
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.26
Shares Outstanding22,060,125
10 Day Avg. Volume35,964
30 Day Avg. Volume32,755
Financial Highlights & Ratios
PEG Ratio0.97
Price to Book (P/B)1.82
Price to Sales (P/S)0.97
P/FCF Ratio-85.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€13.43Price Target Upside42.91% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.59
Revenue Forecast (FY)€270.06M
Fine Foods & Pharmaceuticals N.T.M. SpA Business Overview & Revenue Model
Company Description
Fine Foods & Pharmaceuticals N.T.M. S.p.A. engages in the contract development and manufacturing of oral solid forms for the pharmaceutical and nutraceutical industries. It offers pharmaceutical products, including powders and granules, capsules, ...
How the Company Makes Money
The company makes money by providing contract manufacturing services to customers in the nutraceutical and pharmaceutical sectors. FF generates revenue by producing and packaging products per client specifications. They may also earn income from p...
Fine Foods & Pharmaceuticals N.T.M. SpA Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
63
Positive
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 248.41M | 252.06M | 243.75M | 251.81M | 206.85M | 194.42M |
| Gross Profit | 60.28M | 16.53M | 80.13M | 68.56M | 53.63M | 55.89M |
| EBITDA | 31.67M | 34.43M | 30.90M | 19.29M | 3.64M | 9.86M |
| Net Income | 6.89M | 10.10M | 8.16M | -3.52M | -9.50M | -1.43M |
Balance Sheet | ||||||
| Total Assets | 275.60M | 280.02M | 242.59M | 241.56M | 299.82M | 302.81M |
| Cash, Cash Equivalents and Short-Term Investments | 24.94M | 38.88M | 19.21M | 19.15M | 76.74M | 95.09M |
| Total Debt | 85.94M | 86.78M | 54.53M | 66.39M | 120.36M | 110.76M |
| Total Liabilities | 147.30M | 145.82M | 110.53M | 114.61M | 166.53M | 155.59M |
| Stockholders Equity | 128.30M | 134.21M | 132.06M | 126.95M | 133.29M | 147.22M |
Cash Flow | ||||||
| Free Cash Flow | -1.32M | -2.87M | 11.12M | -329.75K | -12.30M | -21.75M |
| Operating Cash Flow | 29.72M | 31.76M | 45.85M | 18.54M | 3.69M | -5.83M |
| Investing Cash Flow | -31.63M | -35.85M | -31.56M | 45.89M | -15.31M | -36.35M |
| Financing Cash Flow | 18.95M | 23.76M | -14.08M | -55.66M | 4.74M | 55.95M |
Fine Foods & Pharmaceuticals N.T.M. SpA Technical Analysis
Negative
9.40
Price Trends
8.81
Negative
9.47
Negative
9.17
Negative
Market Momentum
-0.23
Positive
42.53
Neutral
14.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:FF, the sentiment is Negative. The current price of 9.4 is above the 20-day moving average (MA) of 8.77, above the 50-day MA of 8.81, and above the 200-day MA of 9.17, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 42.53 is Neutral, neither overbought nor oversold. The STOCH value of 14.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:FF.
Fine Foods & Pharmaceuticals N.T.M. SpA Peers Comparison
UnderperformOutperform
Sector (62)
IT:FF
Fine Foods & Pharmaceuticals N.T.M. SpA
8.30
0.99
13.50%
IT:VLS
Valsoia SpA
10.25
-0.39
-3.68%
IT:ENV
Enervit S.p.A.
4.49
1.38
44.28%
IT:HQF
High Quality Food SpA
0.48
-0.10
-17.59%
IT:IWB
Italian Wine Brands S.p.A.
18.60
-1.97
-9.58%
IT:NWL
NewPrinces S.p.A.
16.20
-3.16
-16.32%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.