Calculating The Intrinsic Value Of Tenaris S.A. (BIT:TEN)
Oct 22
Italian (Borsa Italiana) Market Analysis & Valuation
UpdatedOct 30, 2023
DataAggregated Company Financials
Companies434
- 7D-0.8%
- 3M-7.5%
- 1Y13.6%
- YTD6.5%
In the last week, the market has been flat, with a notable exception in the Consumer Staples sector dropping 4.5%. More promisingly, the market is up 14% over the past year. Looking forward, earnings are forecast to grow by 9.3% annually.
Market Valuation and Performance
Has the Italian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 31 Oct 2023 | €642.1b | €1.0t | €73.1b | 13.5x | 8.8x | 0.6x |
| Thu, 28 Sep 2023 | €662.0b | €1.0t | €75.7b | 15x | 8.7x | 0.7x |
| Sat, 26 Aug 2023 | €669.1b | €1.0t | €75.6b | 15.3x | 8.9x | 0.7x |
| Mon, 24 Jul 2023 | €674.5b | €996.1b | €71.4b | 15.8x | 9.4x | 0.7x |
| Wed, 21 Jun 2023 | €653.1b | €996.9b | €79.1b | 16.2x | 8.3x | 0.7x |
| Fri, 19 May 2023 | €652.4b | €995.0b | €79.5b | 16x | 8.2x | 0.7x |
| Sun, 16 Apr 2023 | €672.0b | €995.9b | €76.1b | 16x | 8.8x | 0.7x |
| Tue, 14 Mar 2023 | €635.4b | €997.0b | €59.1b | 15.1x | 10.7x | 0.6x |
| Thu, 09 Feb 2023 | €659.8b | €967.1b | €58.5b | 16.2x | 11.3x | 0.7x |
| Sat, 07 Jan 2023 | €622.5b | €962.8b | €53.7b | 15.9x | 11.6x | 0.6x |
| Mon, 05 Dec 2022 | €612.5b | €962.6b | €53.8b | 16x | 11.4x | 0.6x |
| Wed, 02 Nov 2022 | €585.5b | €960.6b | €58.8b | 15.3x | 10x | 0.6x |
| Fri, 30 Sep 2022 | €526.1b | €929.9b | €53.2b | 15.2x | 9.9x | 0.6x |
| Sun, 28 Aug 2022 | €573.8b | €925.1b | €52.9b | 17.7x | 10.9x | 0.6x |
| Tue, 26 Jul 2022 | €566.8b | €869.7b | €44.2b | 17.8x | 12.8x | 0.7x |
| Thu, 23 Jun 2022 | €571.6b | €871.7b | €45.0b | 17.7x | 12.7x | 0.7x |
| Sat, 21 May 2022 | €633.8b | €890.9b | €46.3b | 17.3x | 13.7x | 0.7x |
| Mon, 18 Apr 2022 | €655.2b | €846.7b | €43.9b | 18.8x | 14.9x | 0.8x |
| Wed, 16 Mar 2022 | €623.8b | €916.7b | €43.5b | 16.2x | 14.3x | 0.7x |
| Fri, 11 Feb 2022 | €702.7b | €829.7b | €44.0b | 18.8x | 16x | 0.8x |
| Sun, 09 Jan 2022 | €716.0b | €818.2b | €40.8b | 19.5x | 17.6x | 0.9x |
| Tue, 07 Dec 2021 | €685.0b | €815.4b | €40.3b | 18.6x | 17x | 0.8x |
| Thu, 04 Nov 2021 | €707.2b | €795.7b | €41.7b | 19.6x | 17x | 0.9x |
| Sat, 02 Oct 2021 | €669.2b | €782.9b | €39.8b | 18.7x | 16.8x | 0.9x |
| Mon, 30 Aug 2021 | €682.6b | €781.9b | €39.5b | 22.5x | 17.3x | 0.9x |
| Tue, 06 Jul 2021 | €652.1b | €781.9b | €39.5b | 21.1x | 16.5x | 0.8x |
| Fri, 09 Apr 2021 | €625.1b | €718.1b | €26.3b | 20x | 23.7x | 0.9x |
| Thu, 31 Dec 2020 | €567.3b | €762.0b | €12.7b | 18.2x | 44.5x | 0.7x |
Price to Earnings Ratio
30.3x
Current Market PE
- Investors are pessimistic on the Italian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 8.8x which is lower than its 3-year average PE of 17.0x.
Past Earnings Growth
- The earnings for Italian listed companies have grown 69% per year over the last three years.
- Revenues for these companies have grown 11% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Italian Market?
| IT Market | -0.83% | |
| Utilities | 0.68% | |
| Financials | 0.10% | |
| Energy | -0.33% | |
| Tech | -0.70% | |
| Industrials | -1.13% | |
| Materials | -1.48% | |
| Healthcare | -2.31% | |
| Real Estate | -2.83% | |
| Consumer Discretionary | -2.89% | |
| Telecom | -3.82% | |
| Consumer Staples | -4.46% | |
Sector PE
- Investors favour the Consumer Staples sector the most for future growth even though it's trading below its 3-year average PE ratio of 37.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 16.5%, which is higher than its past year's earnings growth of 3.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 51% over the next 5 years.
- This is better than its past earnings decline of 29% per year.
- In contrast, the Energy sector is expected to see its earnings decline by 4.5% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| ENEL Enel | €5.89 | 3.4% +€2.0b | 30.3% | PE15.1x | Utilities | |
| UCG UniCredit | €23.49 | 3.5% +€1.4b | 87.2% | PB0.7x | Financials | |
| ISP Intesa Sanpaolo | €2.40 | 1.2% +€510.8m | 24.5% | PB0.7x | Financials | |
| G Assicurazioni Generali | €18.55 | 1.6% +€437.6m | 22.1% | PE6.7x | Financials | |
| LDO Leonardo | €14.18 | 3.7% +€287.7m | 74.3% | PE9.5x | Industrials |
Market Insights
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