IGD SIIIQ S.p.A. (IGD) AI Stock Analysis

• Market Cap: €370.20M
• Dividend Yield: 3.05%
• Average Volume (3M): 117.73K
• Price to Earnings (P/E): 27.4
• Beta (1Y): 0.68
• Revenue Growth: -5.76%
• EPS Growth: N/A
• Country: IT
• Employees: 139
• Sector: Real Estate
• Sector Strength: 49
• Industry: REIT - Diversified
• EPS (TTM): 0.08
• Shares Outstanding: 110,341,900
• 10 Day Avg. Volume: 101,479
• 30 Day Avg. Volume: 117,729
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €3.65
• Price Target Upside: 11.28% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 56 Neutral
• Price Target: €3.50 ▲(6.71% Upside)

IGD SIIIQ S.p.A.'s overall stock score is primarily influenced by its financial performance and technical analysis. The company demonstrates operational efficiency but struggles with revenue growth and profitability. The technical indicators suggest a neutral to slightly bullish trend. The valuation indicates the stock is relatively expensive, with a moderate dividend yield. The absence of earnings call and corporate events data limits additional insights.

Positive Factors

Debt Management

The company's refinancing has paved the way for an increase in the proposed dividend for FY24.

Earnings

Management has improved 2025 guidance, which now foresees FFO of Eu39mn from the previous Eu38mn.

Stock Valuation

The company's shares are trading at a significant discount to the estimated net asset value, suggesting potential for price appreciation.

Negative Factors

Interest Rates Impact

The direction of travel for interest rates will remain a key driver for the stock, potentially impacting dividend growth positively.

Portfolio Value Adjustment

Net income was impacted mainly by the higher than expected adjustment of portfolio FV.

IGD SIIIQ S.p.A. Business Overview & Revenue Model

Company Description

IGD SIIIQ S.p.A. is an Italian real estate investment trust (REIT) primarily focused on the acquisition, management, and development of retail properties, including shopping centers and retail parks. The company operates mainly in Italy and Romania, offering a diverse portfolio of high-quality retail assets that cater to various consumer needs. IGD aims to enhance the value of its properties through strategic investments and effective asset management.

How the Company Makes Money

IGD generates revenue primarily through leasing retail spaces to various tenants, including large retail chains, supermarkets, and other service providers. The company earns rental income from long-term leases, which typically provide stable and predictable cash flows. Additionally, IGD may benefit from service charges and ancillary income related to property management. The company also engages in development projects, which can lead to enhanced property value and increased rental income. Strategic partnerships with retailers and local authorities further support IGD's revenue model, as they facilitate tenant diversification and property enhancement initiatives.

IGD SIIIQ S.p.A. Financial Statement Overview

Summary

IGD SIIIQ S.p.A. shows operational improvements with better EBIT and EBITDA margins. However, revenue decline and net losses continue to pose challenges. The balance sheet indicates reduced leverage, which is a positive sign, but profitability remains a concern. Cash flow management is sound, although growth in free cash flow is limited.

Income Statement

The company's TTM revenue shows a slight decline compared to the previous year, indicating growth challenges. Gross profit margin remains strong at 77.27%, down from 78.72% last year. However, the net profit margin is negative due to ongoing losses, suggesting profitability issues. Despite these challenges, the EBIT and EBITDA margins have shown improvement, indicating better operational efficiency.

Balance Sheet

The balance sheet reveals a healthy equity ratio of 52.78%, indicating balanced leverage. However, the debt-to-equity ratio has improved significantly, reflecting a reduction in debt levels. The company's return on equity remains negative due to net losses, pointing to profitability concerns. Overall, the balance sheet is stable but affected by profitability issues.

Cash Flow

The cash flow statement highlights positive operating cash flow, which is a strength for liquidity. The free cash flow has decreased but remains positive, indicating sound cash management. However, free cash flow growth has been negative, suggesting challenges in generating excess cash. The company exhibits a strong operating cash flow to net income ratio, compensating for net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	128.87M	137.03M	148.62M	144.79M	145.53M	146.29M
Gross Profit	92.94M	107.88M	112.61M	108.59M	121.50M	122.86M
EBITDA	79.87M	41.29M	-28.81M	98.80M	112.96M	-57.41M
Net Income	13.06M	-30.08M	-81.73M	-22.32M	52.77M	-74.32M
Balance Sheet
Total Assets	1.84B	1.85B	2.06B	2.21B	2.41B	2.48B
Cash, Cash Equivalents and Short-Term Investments	3.56M	4.74M	6.07M	27.07M	158.08M	117.34M
Total Debt	804.59M	808.63M	974.67M	1.00B	1.14B	1.27B
Total Liabilities	870.93M	883.21M	1.06B	1.09B	1.23B	1.36B
Stockholders Equity	967.99M	970.27M	1.00B	1.12B	1.17B	1.11B
Cash Flow
Free Cash Flow	35.68M	27.07M	54.20M	50.29M	59.97M	39.19M
Operating Cash Flow	54.23M	46.46M	77.38M	82.98M	78.68M	54.03M
Investing Cash Flow	-5.56M	137.35M	-23.18M	-32.70M	95.16M	-14.81M
Financing Cash Flow	-52.40M	-185.14M	-75.16M	-181.33M	-133.01M	-50.46M

IGD SIIIQ S.p.A. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.28
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:IGD, the sentiment is Positive. The current price of 3.28 is above the 20-day moving average (MA) of 3.27, above the 50-day MA of 3.20, and above the 200-day MA of 2.81, indicating a bullish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 52.09 is Neutral, neither overbought nor oversold. The STOCH value of 44.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:IGD.

IGD SIIIQ S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IGD	56 Neutral	€370.20M	27.43	1.35%	3.05%	-5.76%	―
Sector *	53 Neutral	$1.22B	2.96	-5.63%	5.85%	-6.20%	-79.02%
0R3R	―	€6.43M	―	-21.78%	―	―	―
0QU7	―	€41.03M	16.84	3.24%	―	―	―
NR	―	€33.80M	41.96		―	―	―
ABT	53 Neutral	€78.38M	18.61		―	-73.55%	-7.83%
HZY	―	€42.65M	―		―	―	―