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Pirelli & C SpA
OTC:PLLIF

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Pirelli & C SpA Logo
Pirelli & C SpA
OTC:PLLIF
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Price: 5.9 USD
Updated: Mar 28, 2024

Intrinsic Value

Pirelli & C. SpA is a consumer tyre company, which engages in manufacturing and marketing of tires for motor and industrial vehicles and motorcycles. [ Read More ]

The intrinsic value of one PLLIF stock under the Base Case scenario is 10.24 USD. Compared to the current market price of 5.9 USD, Pirelli & C SpA is Undervalued by 42%.

Key Points:
PLLIF Intrinsic Value
Base Case
10.24 USD
Undervaluation 42%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Pirelli & C SpA

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Fundamental Analysis

Pirelli Forecasts Stronger Financials Amid Challenges
2023-Q3 Earnings Call

Pirelli Forecasts Stronger Financials Amid Challenges

In the automotive climate of general demand weakness, Pirelli exhibited a 2.5% revenue growth, with a notable 10.4% improvement in price/mix over nine months, signaling robust pricing and product strategies. Volumes declined 3%, reflective of selective markets and industry headwinds. Despite raw material cost increases and unfavorable Forex impacts, adjusted EBIT grew by 4% to EUR 783 million, with a margin improvement to 15.2%. Net income rose 14% year over year and a managed net debt stood at EUR 3.1 billion. For the full year, Pirelli anticipates revenues of EUR 6.6 billion and an adjusted EBIT margin around 15%, with expected net cash generation between EUR 450 million and EUR 470 million, suggesting a healthier financial position.

Financials

Balance Sheet Decomposition
Pirelli & C SpA

Current Assets 4B
Cash & Short-Term Investments 1.5B
Receivables 1.1B
Other Current Assets 1.4B
Non-Current Assets 9.6B
Long-Term Investments 369.1m
PP&E 3.4B
Intangibles 5.3B
Other Non-Current Assets 521.7m
Current Liabilities 3.4B
Accounts Payable 1.9B
Accrued Liabilities 382.1m
Short-Term Debt 135m
Other Current Liabilities 982.2m
Non-Current Liabilities 4.7B
Long-Term Debt 3.2B
Other Non-Current Liabilities 1.5B
Efficiency

Earnings Waterfall
Pirelli & C SpA

Revenue
6.7B EUR
Cost of Revenue
-2.2B EUR
Gross Profit
4.5B EUR
Operating Expenses
-3.6B EUR
Operating Income
837.7m EUR
Other Expenses
-358.6m EUR
Net Income
479.1m EUR

Free Cash Flow Analysis
Pirelli & C SpA

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
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Table
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Fundamental Scores

PLLIF Profitability Score
Profitability Due Diligence

Pirelli & C SpA's profitability score is 55/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Free Cash Flow
Positive 3-Years Revenue Growth
ROE is Increasing
55/100
Profitability
Score

Pirelli & C SpA's profitability score is 55/100. The higher the profitability score, the more profitable the company is.

PLLIF Solvency Score
Solvency Due Diligence

Pirelli & C SpA's solvency score is 50/100. The higher the solvency score, the more solvent the company is.

Low D/E
Long-Term Solvency
Short-Term Solvency
Positive Net Debt
50/100
Solvency
Score

Pirelli & C SpA's solvency score is 50/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

PLLIF Price Targets Summary
Pirelli & C SpA

Wall Street analysts forecast PLLIF stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for PLLIF is 6.16 USD with a low forecast of 4.99 USD and a high forecast of 7.03 USD.

Lowest
Price Target
4.99 USD
15% Downside
Average
Price Target
6.16 USD
4% Upside
Highest
Price Target
7.03 USD
19% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

PIRC Price
Pirelli & C SpA

1M 1M
+5%
6M 6M
+26%
1Y 1Y
+30%
3Y 3Y
+20%
5Y 5Y
+15%
10Y 10Y
+1%
Annual Price Range
5.73
52w Low
4.066
52w High
5.74
Price Metrics
Average Annual Return -1.34%
Standard Deviation of Annual Returns 31.95%
Max Drawdown -52%
Shares Statistics
Market Capitalization 5.7B EUR
Shares Outstanding 1 000 000 000
Percentage of Shares Shorted
N/A

PIRC Return Decomposition
Main factors of price return

What is price return decomposition?

Company Profile

Pirelli & C SpA Logo
Pirelli & C SpA

Country

Italy

Industry

Auto Components

Market Cap

5.7B USD

Dividend Yield

3.64%

Description

Pirelli & C. SpA is a consumer tyre company, which engages in manufacturing and marketing of tires for motor and industrial vehicles and motorcycles. The company is headquartered in Milan, Milano and currently employs 30,690 full-time employees. The company went IPO on 2017-10-04. The company is a tire player. The firm is the global player focused on the consumer tire market, which includes tiers for cars, motorcycles and bicycles. The tire activity consists of two main segments: the Consumer segment focuses on tires for consumer cars, motor vehicles, sports utility vehicles (SUVs), light commercial vehicles and motorcycles; and the Industrial segment, manufacturing tires for buses, heavy trucks and agricultural machinery. Its products are used by car maker partners such as Bentley, Aston Martin and Porsche, among others. Through its subsidiaries Pirelli & C. Eco Technology SpA, Pirelli & C. Ambiente SpA and PZero Srl, it is active in emissions control technologies, renewable energy sources and fashion. In addition, Pirelli & C SpA focuses on the partnerships with car and motorcycle manufacturers, technological innovation and wide portfolio of performance and customized products.

Contact

MILANO
Milan
Viale Piero e Alberto Pirelli n. 25
+390264421.0
https://www.pirelli.com/

IPO

2017-10-04

Employees

30 690

Officers

CEO & Executive Director
Mr. Andrea Livio Donato Casaluci
Executive Vice President of Administration & Operational Improvement
Mr. Maurizio Sala
Senior VP of Investor Relations, Competitive & Business Insight
Dr. Valeria Leone
Senior VP & Chief Legal Officer
Mr. Nicola Verdicchio
Senior VP of Communication
Mr. Maurizio Abet
Executive VP and Chief Human Resources & Organization Officer
Davide Sala
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Executive Vice President of Commercial Replacement, Moto, Velo & Customer Racing and Region Europe
Mr. Roberto Righi
Executive Vice President of Technical Operations
Francesco Sala
Executive Vice President of Technology
Pierluigi De Cancellis
Head of Car Racing
Mario Isola
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See Also

Discover More
What is the Intrinsic Value of one PLLIF stock?

The intrinsic value of one PLLIF stock under the Base Case scenario is 10.24 USD.

Is PLLIF stock undervalued or overvalued?

Compared to the current market price of 5.9 USD, Pirelli & C SpA is Undervalued by 42%.