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Piaggio & C. SPA (IT:PIA)
:PIA
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Piaggio & C. SPA (PIA) AI Stock Analysis

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IT:PIA

Piaggio & C. SPA

(LSE:PIA)

Rating:70Outperform
Price Target:
€2.00
▼(-1.48% Downside)
Piaggio & C. SPA's stock score is driven by strong technical indicators and attractive valuation metrics, including a high dividend yield. However, financial performance concerns, particularly related to declining revenue, high leverage, and negative free cash flow, weigh on the overall score. The absence of earnings call data and corporate events limits additional insights.

Piaggio & C. SPA (PIA) vs. iShares MSCI Italy ETF (EWI)

Piaggio & C. SPA Business Overview & Revenue Model

Company DescriptionPiaggio & 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 MoneyPiaggio & C. SPA generates revenue primarily through the sale of its vehicles, including scooters, motorcycles, and commercial vehicles. The company has a diversified revenue model that includes direct sales to consumers through dealerships, as well as sales to corporate clients and fleet operators. Key revenue streams come from both domestic and international markets, with a significant presence in Europe and growing markets in Asia and America. Additionally, Piaggio benefits from after-sales services, including maintenance, parts, and accessories, which contribute to recurring revenue. Strategic partnerships with distributors and collaborations for electric vehicle technology have also enhanced its market position and revenue potential.

Piaggio & C. SPA Financial Statement Overview

Summary
Piaggio & C. SPA faces challenges with declining revenue and profitability, high leverage, and cash flow constraints. While operational efficiency remains a strength, the company's financial health is impacted by high debt levels and negative free cash flow. Strategic measures to improve revenue growth and manage debt levels are crucial for future stability.
Income Statement
65
Positive
Piaggio & C. SPA's income statement reflects a challenging period with declining revenue and profitability. The TTM data shows a revenue decline of 4.89%, and the gross profit margin has decreased to 19.03% from 22.61% in the previous year. Net profit margin also slightly decreased to 3.48%. Despite these challenges, the company maintains a stable EBIT margin of 7.92% and an EBITDA margin of 16.62%, indicating operational efficiency. However, the negative revenue growth trend is a concern.
Balance Sheet
60
Neutral
The balance sheet shows a high debt-to-equity ratio of 1.76, indicating significant leverage, which could pose risks in a volatile market. Return on equity has decreased to 13.57% from 16.07% in the previous year, reflecting reduced profitability. The equity ratio stands at 21.23%, suggesting moderate financial stability. The high leverage and declining ROE are areas of concern.
Cash Flow
55
Neutral
Cash flow analysis reveals a mixed picture. The free cash flow has improved significantly by 145.72% in the TTM period, but it remains negative, indicating potential liquidity issues. The operating cash flow to net income ratio is 0.16, reflecting limited cash generation relative to net income. The negative free cash flow to net income ratio of -0.20 highlights ongoing cash flow challenges.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.56B1.70B1.99B2.09B1.67B1.31B
Gross Profit350.60M384.60M519.17M499.23M352.93M298.87M
EBITDA258.60M285.12M326.23M296.50M248.76M193.92M
Net Income45.24M67.22M91.05M84.89M60.05M31.32M
Balance Sheet
Total Assets1.93B1.89B1.87B1.96B1.84B1.66B
Cash, Cash Equivalents and Short-Term Investments175.27M149.69M187.90M242.62M260.87M230.09M
Total Debt709.96M683.67M621.93M610.84M641.19M655.86M
Total Liabilities1.52B1.47B1.45B1.54B1.43B1.29B
Stockholders Equity409.86M418.31M416.15M417.98M404.24M372.16M
Cash Flow
Free Cash Flow-74.70M-38.64M23.92M87.82M72.35M52.86M
Operating Cash Flow106.70M144.06M185.22M239.50M226.50M193.21M
Investing Cash Flow-164.10M-165.99M-155.49M-148.53M-146.77M-135.33M
Financing Cash Flow-80.50M-11.75M-87.58M-107.68M-58.37M-7.38M

Piaggio & C. SPA Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2.03
Price Trends
50DMA
1.92
Positive
100DMA
1.85
Positive
200DMA
1.95
Positive
Market Momentum
MACD
0.03
Negative
RSI
59.61
Neutral
STOCH
60.62
Neutral
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 2.03 is above the 20-day moving average (MA) of 1.96, above the 50-day MA of 1.92, and above the 200-day MA of 1.95, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 59.61 is Neutral, neither overbought nor oversold. The STOCH value of 60.62 is Neutral, 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

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
€722.79M15.8010.60%7.64%-13.75%-42.09%
61
Neutral
$17.78B13.97-5.49%3.03%1.50%-15.71%
$36.67B4.83-3.01%8.01%
€5.99B46.8714.30%
€4.80B12.5012.04%3.20%
€4.36B20.4710.96%
70
Neutral
€6.34B15.16
1.79%-6.97%41.29%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IT:PIA
Piaggio & C. SPA
2.03
-0.46
-18.47%
STLA
Stellantis
9.64
-5.74
-37.32%
GB:0QWN
Fincantieri S.p.A.
19.32
14.28
283.33%
GB:0RPV
Brembo SPA
9.35
-0.70
-6.97%
GB:0EWD
Interpump Group SPA
41.12
2.35
6.06%
IT:IVG
Iveco Group NV
18.40
9.29
101.98%
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.Date of analysis: Aug 20, 2025