Fine Foods & Pharmaceuticals N.T.M. SpA (IT:FF)
:FF
Top Page
Fine Foods & Pharmaceuticals N.T.M. SpA
(FF)
Select Model
Select Model
Rating:50Neutral
Price Target:
€8.00
▼(-10.11% Downside)
Action:ReiteratedDate:03/24/26
The score is held back primarily by weakening cash-flow quality (negative 2025 free cash flow), margin volatility (sharp 2025 gross margin drop), and a bearish technical setup (below all key moving averages with negative MACD). These are partially offset by the earnings recovery and modest shareholder yield.
Positive Factors
Contract manufacturing (CDMO) business model
FF's core CDMO model serves nutraceutical and pharmaceutical clients, creating recurring demand from outsourcing and regulatory compliance needs. This business mix supports stable revenue streams, long-term client relationships and lower product development risk versus proprietary product firms.
Negative Factors
Sharp gross margin deterioration
A collapse in gross margin from ~32.9% to ~6.6% is a structural concern: it implies material input-cost, pricing, or product-mix issues that erode the company's fundamental unit economics. Sustained low gross margins would compress operating leverage and threaten long-term profitability and cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Contract manufacturing (CDMO) business model
FF's core CDMO model serves nutraceutical and pharmaceutical clients, creating recurring demand from outsourcing and regulatory compliance needs. This business mix supports stable revenue streams, long-term client relationships and lower product development risk versus proprietary product firms.
Read all positive factors
Fine Foods & Pharmaceuticals N.T.M. SpA (FF) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€203.36M
Dividend Yield1.48%
Average Volume (3M)32.76K
Price to Earnings (P/E)24.3
Beta (1Y)0.34
Revenue Growth5.31%
EPS Growth158.17%
CountryIT
Employees779
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)-0.04
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
€13.33Price Target Upside49.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.6
Revenue Forecast (FY)€275.57M
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
FF primarily makes money by selling contract manufacturing and related services to business customers (typically pharmaceutical and nutraceutical brand owners) rather than by selling its own branded end-products. Key revenue streams generally incl...
Fine Foods & Pharmaceuticals N.T.M. SpA Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 252.06M | 243.75M | 251.81M | 206.85M | 194.42M |
| Gross Profit | 16.53M | 80.13M | 68.56M | 53.63M | 55.89M |
| EBITDA | 34.43M | 30.90M | 19.29M | 3.64M | 9.86M |
| Net Income | 10.10M | 8.16M | -3.52M | -9.50M | -1.43M |
Balance Sheet | |||||
| Total Assets | 280.02M | 242.59M | 241.56M | 299.82M | 302.81M |
| Cash, Cash Equivalents and Short-Term Investments | 38.88M | 19.21M | 19.15M | 76.74M | 95.09M |
| Total Debt | 86.78M | 54.53M | 66.39M | 120.36M | 110.76M |
| Total Liabilities | 145.82M | 110.53M | 114.61M | 166.53M | 155.59M |
| Stockholders Equity | 134.21M | 132.06M | 126.95M | 133.29M | 147.22M |
Cash Flow | |||||
| Free Cash Flow | -2.87M | 11.12M | -329.75K | -12.30M | -21.75M |
| Operating Cash Flow | 31.76M | 45.85M | 18.54M | 3.69M | -5.83M |
| Investing Cash Flow | -35.85M | -31.56M | 45.89M | -15.31M | -36.35M |
| Financing Cash Flow | 23.76M | -14.08M | -55.66M | 4.74M | 55.95M |
Fine Foods & Pharmaceuticals N.T.M. SpA Technical Analysis
Negative
8.90
Price Trends
10.14
Negative
9.80
Negative
9.19
Negative
Market Momentum
-0.62
Negative
35.47
Neutral
77.38
Neutral
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 8.9 is below the 20-day moving average (MA) of 9.13, below the 50-day MA of 10.14, and below the 200-day MA of 9.19, indicating a bearish trend. The MACD of -0.62 indicates Negative momentum. The RSI at 35.47 is Neutral, neither overbought nor oversold. The STOCH value of 77.38 is Neutral, 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
8.32
1.71
25.87%
IT:VLS
Valsoia SpA
10.25
0.23
2.32%
IT:ENV
Enervit S.p.A.
4.24
1.23
40.86%
IT:HQF
High Quality Food SpA
0.49
-0.04
-7.44%
IT:IWB
Italian Wine Brands S.p.A.
18.80
-1.32
-6.56%
IT:NWL
NewPrinces S.p.A.
15.36
0.64
4.35%
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.