Piaggio & C. SPA (PIA) AI Stock Analysis

• Market Cap: €699.93M
• Dividend Yield: 4.08%
• Average Volume (3M): 1.13M
• Price to Earnings (P/E): 12.1
• Beta (1Y): 0.65
• Revenue Growth: -12.36%
• EPS Growth: -33.03%
• Country: IT
• Employees: 5,542
• Sector: Industrials
• Sector Strength: 86
• Industry: Auto - Manufacturers
• EPS (TTM): 0.02
• Shares Outstanding: 358,153,630
• 10 Day Avg. Volume: 1,445,433
• 30 Day Avg. Volume: 1,126,682
• PEG Ratio: N/A
• Price to Book (P/B): 1.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -17.96
• 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: €3.00
• Price Target Upside: 55.44% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 66 Neutral
• Price Target: €2.00 ▲(3.63%Upside)

The stock's score is primarily influenced by its stable but challenged financial performance, characterized by declining revenues and profits. Technical analysis suggests a potential bearish trend, while the valuation appears favorable due to a low P/E ratio and high dividend yield. These factors collectively contribute to a moderate overall stock score.

Piaggio & C. SPA Business Overview & Revenue Model

Company Description

Piaggio & C. SpA, together with its subsidiaries, develops, manufactures, and distributes two-wheeler and commercial motor vehicles. The company provides two-wheelers, including scooters, motorcycles, and mopeds, as well as related spare parts and accessories under the Piaggio, Vespa, Aprilia, Moto Guzzi, Gilera, Derbi, and Scarabeo brands. It also offers three-and four-wheeler light commercial vehicles, as well as related spare parts and accessories for commercial and private use under the Ape and Porter brands; and smart robots for transportation. In addition, the company sells engines to third parties; conducts two-wheeler sports championships; and provides technical services. It distributes its vehicles primarily through dealers and importers in Europe, the Middle East, Africa, the Americas, the Asia Pacific, and India. The company was founded in 1884 and is headquartered in Pontedera, Italy. Piaggio & C. SpA is a subsidiary of IMMSI S.p.A.

How the Company Makes Money

Piaggio & C. SPA generates revenue primarily through the sale of its two-wheeled motor vehicles, which include scooters, motorcycles, and mopeds under various brand names. The company also earns from the sale of light commercial vehicles. Another significant revenue stream comes from after-sales services, spare parts, and accessories, which cater to the maintenance and customization needs of its products. Piaggio benefits from a global distribution network and strategic partnerships that enhance market penetration and brand visibility. Additionally, the company invests in research and development to innovate and introduce new models, which helps maintain a competitive edge in the evolving automotive industry.

Piaggio & C. SPA Financial Statement Overview

Summary

Piaggio & C. SPA shows a stable financial position with effective cost management and operational efficiency. However, declining revenues and profits, coupled with increasing leverage and negative free cash flow, could pose challenges if not addressed. Continued focus on revenue growth and cash flow management is crucial.

Income Statement

The company's revenue has shown fluctuations over the years, peaking in 2022 and decreasing in 2023 and 2024. The gross profit margin has remained fairly stable, indicating consistent cost management. However, net profit margin has been impacted by the declining revenue and net income in the latest year. EBIT and EBITDA margins are strong, reflecting operational efficiency.

Balance Sheet

The balance sheet demonstrates moderate leverage with a debt-to-equity ratio that has slightly increased. The equity ratio is relatively stable, indicating a fair proportion of assets financed by equity. The return on equity shows satisfactory profitability, though it has decreased due to declining net income.

Cash Flow

The operating cash flow remains strong but has decreased over time. Free cash flow has turned negative in the most recent year due to higher capital expenditures. The cash flow to net income ratios indicate moderate cash generation relative to earnings, though they have weakened recently.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.70B	1.99B	2.09B	1.67B	1.31B
Gross Profit	384.60M	519.17M	499.23M	352.93M	298.87M
EBITDA	285.12M	326.23M	296.50M	248.76M	193.92M
Net Income	67.22M	91.05M	84.89M	60.05M	31.32M
Balance Sheet
Total Assets	1.89B	1.87B	1.96B	1.84B	1.66B
Cash, Cash Equivalents and Short-Term Investments	149.69M	187.90M	242.62M	260.87M	230.09M
Total Debt	683.67M	621.93M	610.84M	641.19M	655.86M
Total Liabilities	1.47B	1.45B	1.54B	1.43B	1.29B
Stockholders Equity	418.31M	416.15M	417.98M	404.24M	372.16M
Cash Flow
Free Cash Flow	-38.64M	23.92M	87.82M	72.35M	52.86M
Operating Cash Flow	144.06M	185.22M	239.50M	226.50M	193.21M
Investing Cash Flow	-165.99M	-155.49M	-148.53M	-146.77M	-135.33M
Financing Cash Flow	-11.75M	-87.58M	-107.68M	-58.37M	-7.38M

Piaggio & C. SPA Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.93
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:PIA, the sentiment is Positive. The current price of 1.93 is above the 20-day moving average (MA) of 1.83, above the 50-day MA of 1.80, and below the 200-day MA of 2.02, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 66.23 is Neutral, neither overbought nor oversold. The STOCH value of 94.53 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:PIA.

Piaggio & C. SPA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PIA	66 Neutral	€699.93M	12.11	13.38%	4.08%	-12.36%	-33.03%
Sector *	65 Neutral	$10.81B	15.65	5.50%	1.89%	3.10%	-27.09%
STLA		$37.82B	5.14	6.77%	7.48%	―	―
0QWN		€5.24B	―		―	―	―
0RPV		€4.28B	10.14	12.04%	3.59%	―	―
0EWD		€3.71B	17.20	11.06%	0.82%	―	―
IVG	68 Neutral	€5.76B	12.08		1.71%	-7.61%	62.12%