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Valsoia SpA (IT:VLS)
:VLS

Valsoia SpA (VLS) AI Stock Analysis

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IT:VLS

Valsoia SpA

(VLS)

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Neutral 61 (OpenAI - 5.2)
Rating:61Neutral
Price Target:
€10.50
▼(-3.23% Downside)
Action:ReiteratedDate:03/12/26
The score is driven primarily by mixed financial performance: historically strong margins and low leverage, but 2025 deterioration in revenue, debt, and free cash flow meaningfully raises risk. Technical indicators add caution as the stock trades below key moving averages with negative MACD, while valuation is a relative support with a moderate P/E and attractive dividend yield.
Positive Factors
Plant‑based and 'free‑from' brand focus
A clear strategic focus on plant‑based and 'free‑from' categories aligns with durable consumer health and sustainability trends. Specialization supports brand differentiation, product innovation, and long‑term shelf relevance with large retailers, aiding sustained demand over multiple quarters.
Historically solid profitability and ROE
Consistent ROE near 8%–10% and historically solid margins (net margins about 6%–9% through 2024) indicate durable earnings quality. This track record suggests the business can generate returns above cost of capital, supporting reinvestment and resilience through modest cyclical pressures.
Historically conservative capital structure
Low historical leverage provided financial flexibility to fund operations, marketing and product launches without heavy interest burdens. A conservative capital base enhances ability to absorb shocks, invest in growth initiatives, and negotiate with retailers over a multi‑quarter horizon.
Negative Factors
Sharp revenue drop in 2025
A ~21% revenue decline in 2025 is a structural risk to scale economics: it pressures gross margin absorption, reduces bargaining leverage with retailers, and can force cutbacks in marketing or R&D. If persistent, lower sales can erode brand momentum and long‑run profitability.
Negative free cash flow in 2025
Negative free cash flow signals weaker cash conversion and reduced internal funding for capex, working capital, or dividends. Over several quarters this can necessitate external financing, restrict strategic investments, and increase vulnerability to cost shocks or margin compression.
Increase in total debt in 2025
A material rise in debt amid lower revenues weakens the previously conservative balance sheet, raising interest and covenant risk. Higher leverage reduces flexibility to fund growth or withstand margin pressure and can amplify downside if earnings remain depressed across multiple quarters.

Valsoia SpA (VLS) vs. iShares MSCI Italy ETF (EWI)

Valsoia SpA Business Overview & Revenue Model

Company DescriptionValsoia S.p.A. engages in the production, distribution, and marketing of mass consumption food products with a primary focus on health foods in Italy. It offers soya-based alternatives, drinks, ice creams, yogurts, desserts, biscuits, ready-meal dishes, cheeses, condiments, preserves and fruit products, and tomato purees and sauces, as well as dietary and nutritional products. The company sells its products under the Valsoia Bontà E Salute, Santa Rosa, Valsoia Integratori, Pomodorissimo, Weetabix, Oreo, Vitasoya, Diete.Tic, Piadina Loriana, and Naturattiva brands. The company was founded in 1990 and is headquartered in Bologna, Italy. Valsoia S.p.A. is a subsidiary of Finsalute S.r.l.
How the Company Makes MoneyValsoia makes money primarily by selling packaged food products under its brands to the trade (e.g., large-scale retail chains and other distributors), recognizing revenue from the wholesale sale of finished goods. Its core revenue stream is branded plant-based and “free-from” food categories, where earnings are driven by volumes sold and pricing/brand positioning within mainstream retail. The company’s profitability is influenced by (i) product mix (higher-margin branded items versus lower-margin lines), (ii) distribution reach and shelf presence in retail, (iii) marketing and promotional activity to support consumer demand, and (iv) input costs (agricultural and industrial ingredients, packaging, logistics) that affect gross margin. Specific details on major partnerships, customer concentration, licensing income, or other ancillary revenue streams are null.

Valsoia SpA Financial Statement Overview

Summary
Historically solid profitability and a conservatively financed balance sheet, but 2025 introduces material near-term risk: sharp revenue decline, higher debt, and negative free cash flow with weak cash conversion in recent years.
Income Statement
62
Positive
Revenue expanded steadily from 2020–2024, but 2025 shows a sharp reversal with revenue down about 21% year over year. Profitability was strong and consistent through 2024 (net margins around 6%–9% and solid operating margins), and net income held relatively stable across the period. However, 2025 shows pressure in reported gross profit versus prior years, raising concerns about cost inflation, pricing power, or one-offs impacting the income statement.
Balance Sheet
78
Positive
The balance sheet looks conservatively financed with low leverage in prior years (debt-to-equity roughly 0.08–0.20 from 2020–2024) and healthy equity relative to total assets. Returns on equity were consistently solid (about 8%–10% from 2020–2024), supporting the quality of earnings. The key watch item is the jump in total debt in 2025 versus 2024, which increases financial risk if the 2025 revenue decline persists.
Cash Flow
48
Neutral
Cash generation has been uneven. Operating cash flow was healthy in most years, but free cash flow has trended down from 2020 levels and turned negative in 2025 despite still-positive operating cash flow—suggesting a heavy reinvestment year or working-capital drag. In 2023–2024, free cash flow covered less than half of net income, pointing to weaker cash conversion versus reported profits.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue118.11M117.85M116.75M112.82M101.32M90.95M
Gross Profit26.52M9.15M9.98M42.05M39.52M38.23M
EBITDA13.66M14.04M14.73M13.35M13.89M13.22M
Net Income8.41M8.04M8.28M7.22M7.98M7.36M
Balance Sheet
Total Assets135.68M138.46M127.78M123.93M124.04M116.45M
Cash, Cash Equivalents and Short-Term Investments11.59M13.24M16.18M17.97M19.71M41.25M
Total Debt11.51M15.21M7.50M9.57M12.09M15.90M
Total Liabilities44.79M45.89M37.32M38.89M42.11M37.82M
Stockholders Equity90.88M92.58M90.46M85.05M81.93M78.64M
Cash Flow
Free Cash Flow2.30M-3.34M4.35M4.85M5.80M9.26M
Operating Cash Flow10.47M7.31M10.22M11.04M8.22M10.99M
Investing Cash Flow-7.64M-8.55M-5.45M-5.64M-21.19M-2.01M
Financing Cash Flow-3.62M-1.96M-6.56M-7.13M-8.57M1.49M

Valsoia SpA Technical Analysis

Technical Analysis Sentiment
Negative
Last Price10.85
Price Trends
50DMA
10.48
Negative
100DMA
10.60
Negative
200DMA
10.91
Negative
Market Momentum
MACD
-0.07
Negative
RSI
46.86
Neutral
STOCH
81.88
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:VLS, the sentiment is Negative. The current price of 10.85 is above the 20-day moving average (MA) of 10.39, above the 50-day MA of 10.48, and below the 200-day MA of 10.91, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 46.86 is Neutral, neither overbought nor oversold. The STOCH value of 81.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:VLS.

Valsoia SpA Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
€110.53M14.769.28%3.53%2.66%9.72%
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
53
Neutral
€208.25M24.251.48%5.31%158.17%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IT:VLS
Valsoia SpA
10.20
0.04
0.36%
IT:ENV
Enervit S.p.A.
4.14
1.02
32.69%
IT:FF
Fine Foods & Pharmaceuticals N.T.M. SpA
8.52
1.50
21.37%
IT:HQF
High Quality Food SpA
0.48
-0.12
-19.87%
IT:IWB
Italian Wine Brands S.p.A.
19.20
-1.60
-7.69%
IT:NWL
NewPrinces S.p.A.
17.44
4.84
38.41%

Valsoia SpA Corporate Events

Valsoia Holds Earnings Steady in 2025 and Launches First Consolidated Results After Kele&Kele Deal
Mar 9, 2026

Valsoia reported 2025 parent-company revenues of €116.78 million, broadly flat year on year, with foreign sales up 12.5% and a solid EBITDA margin of 12.0%. Net profit eased slightly to €8.04 million, while the net financial position remained positive at €17 million, underscoring the group’s financial solidity despite a slowdown in Italian packaged food consumption.

The group published its first consolidated accounts following the acquisition of 70% of Slovenian company Kele&Kele d.o.o., posting consolidated revenues of €117.85 million and an adjusted positive net financial position of €16.1 million. The board proposed a dividend of €0.38 per share and scheduled the shareholders’ meeting for 23 April 2026, while continuing strategic investments in brand building, higher communication spending and expansion of the Serravalle Sesia plant to boost efficiency, sustainability and innovation capacity.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia Adds to Treasury Stock with New Share Buybacks on Euronext Milan
Mar 9, 2026

Valsoia S.p.A. has continued its share buyback programme, repurchasing 800 ordinary shares on Euronext Milan between 2 and 6 March 2026 at an average price of €10.2688, for a total outlay of €8,215. These trades, executed through Intermonte Partners SIM under an existing shareholder authorisation, lift the company’s treasury stock to 43,768 shares, equivalent to 0.4039% of its share capital.

The incremental purchases, though small in percentage terms, reflect the ongoing implementation of Valsoia’s capital management strategy and may support the stock by signalling confidence in the company’s prospects. The gradual accumulation of treasury shares can provide the group with flexibility for future corporate actions, including potential use in incentive plans or other financial operations, and is relevant for investors monitoring liquidity and ownership structure.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia Modestly Lifts Treasury Stake with Latest Share Buybacks
Mar 2, 2026

Valsoia S.p.A. has continued its share buyback programme, purchasing 900 ordinary shares on Euronext Milan between 23 and 27 February 2026 at an average price of €10.5278, for a total outlay of €9,475. As a result of these latest transactions, executed through Intermonte Partners SIM, the company now holds 42,968 treasury shares, corresponding to 0.3965% of its share capital, modestly increasing its financial flexibility and potential levers for capital management.

The purchases, carried out under a shareholder authorisation granted in April 2025 and within a programme launched in May 2025, signal ongoing management commitment to active capital allocation. While the volumes involved are limited relative to total equity, the steady accumulation of treasury stock can support future uses such as incentive plans or corporate operations and may be read by investors as a gradual vote of confidence in the company’s valuation and long-term strategy.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia Adds to Treasury Stock With Modest Buyback on Euronext Milan
Feb 23, 2026

Valsoia S.p.A., a listed Italian food company specializing in plant-based alternatives and health-oriented products under the “Bontà e Salute” brand, has evolved into a key player in Italy’s health food market while also managing traditional food brands. Headquartered in Bologna and traded on Euronext Milan, the group targets consumers seeking nutritious yet palatable options and leverages its dual positioning in innovative and conventional food segments.

The company disclosed that it repurchased 686 ordinary shares on Euronext Milan between 16 and 20 February 2026, equal to about 0.0063% of its share capital, for a total of €7,094.70 at an average price of €10.3421. Executed via Intermonte Partners SIM as part of an existing shareholder-approved buyback program, these purchases lift Valsoia’s treasury share holdings to 42,068 shares, or roughly 0.3882% of its capital, reflecting continued capital management activity that marginally reduces the free float while signalling ongoing support for the stock.

The detailed breakdown of daily and intra-day transactions underscores the transparency requirements of the Italian market and provides investors with clear visibility into the timing and pricing of the buyback trades. While the amounts are modest relative to Valsoia’s overall capital, the program’s continuation may be interpreted by investors as a sign of management’s confidence and a tool for flexible balance-sheet and shareholder-value management.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia Continues Incremental Share Buyback on Euronext Milan
Feb 9, 2026

Valsoia S.p.A. has continued its share buyback program on Euronext Milan, repurchasing 400 ordinary shares between 2 and 6 February 2026 at an average price of €10.6063, for a total outlay of €4,242.50. The purchases, executed via Intermonte Partners SIM under an existing shareholder authorization, bring the company’s treasury holdings to 40,868 shares, or 0.3773% of its share capital, signaling ongoing capital management activity that modestly increases its financial flexibility and potential for future shareholder-focused actions.

The latest transactions were spread over three trading days, with small daily volumes that limit market impact while steadily advancing the buyback plan. By incrementally building its treasury position, Valsoia reinforces its ability to support share-based initiatives or optimize its capital structure over time, a stance that may be viewed positively by investors tracking the group’s financial policies and market positioning in the Italian health food sector.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia Continues Share Buyback Program with January Treasury Purchases
Feb 2, 2026

Valsoia S.p.A. disclosed that between 26 and 30 January 2026 it repurchased 700 of its own ordinary shares on Euronext Milan, equal to 0.0065% of its share capital, at an average price of €10.485 per share for a total outlay of €7,339.50, under the ongoing buyback program authorized by shareholders in April 2025. The purchases, executed through Intermonte Partners SIM, bring the company’s total treasury shareholding to 40,468 shares, or 0.3736% of its share capital, signaling continued implementation of its capital management strategy with a modest but incremental impact on its equity structure and potential shareholder value dynamics.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia Continues Share Buyback, Lifts Treasury Holding to 0.29% of Capital
Dec 29, 2025

Valsoia has continued its share buyback program on Euronext Milan, repurchasing 400 ordinary shares between 22 and 23 December 2025 at an average price of €10.675 per share, for a total outlay of €4,270. These purchases, executed through Intermonte Partners SIM under an authorization granted by shareholders in April 2025, bring the company’s treasury stock to 31,100 shares, equivalent to 0.2872% of its share capital, indicating an ongoing strategy of capital management and potential support for the stock in the market.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia Increases Treasury Stock with New Share Buybacks on Euronext Milan
Dec 22, 2025

Valsoia S.p.A. has continued its share buyback programme on Euronext Milan, repurchasing 2,600 ordinary shares between 15 and 19 December 2025 at an average price of €10.40, for a total outlay of about €27,040. Following these transactions, executed through Intermonte Partners SIM, the company now holds 30,700 treasury shares, representing 0.2835% of its share capital, signalling a measured capital management strategy that modestly increases its treasury stock and may support liquidity and capital structure optimisation over time.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia S.p.A. Announces Option Exercise by Technical Director
Dec 16, 2025

Valsoia S.p.A. announced a transaction involving the exercise of options under the SOP Plan 2022/2025 by Matteo Marangoni, the company’s Technical Director. This transaction, which involves a significant volume of options, reflects the company’s ongoing commitment to its strategic financial plans and may influence its market positioning and stakeholder interests.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

Valsoia S.p.A. Executes Share Buyback on Euronext Milan
Dec 15, 2025

Valsoia S.p.A. has repurchased 1,956 of its own shares on Euronext Milan between December 8 and December 12, 2025, as part of an ongoing buyback program authorized by shareholders. This transaction, amounting to 20,667.20 Euros, reflects the company’s strategic financial management and may impact its share capital structure, with Valsoia now holding 28,100 own shares, representing 0.2595% of its share capital.

The most recent analyst rating on (IT:VLS) stock is a Hold with a EUR11.00 price target. To see the full list of analyst forecasts on Valsoia SpA stock, see the IT:VLS Stock Forecast page.

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: Mar 12, 2026