SIT S.p.A. (SIT.MI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+507.6%

€13.91

vs €2.29 price

Levered DCF

€3.76

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.79

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	62.65×	-0.73×	-3.54×	13.35×	31.62×	11.09×	8.77×	8.55×
P/B	0.66×	0.23×	0.58×	0.9×	1.72×	0.95×	1.18×	1.65×
P/S	0.21×	0.08×	0.25×	0.38×	0.69×	0.45×	0.5×	0.58×
EV / EBITDA	4.86×	4.02×	40.68×	6.18×	8.51×	5.9×	5.1×	5.57×
Gross margin	15.3%	-3.2%	32.8%	45.7%	47.6%	46.7%	44.7%	46.0%
Operating margin	5.2%	-3.9%	-7.7%	2.7%	6.4%	6.1%	7.0%	6.7%
Net margin	0.3%	-10.6%	-7.2%	2.9%	2.2%	4.1%	5.7%	6.7%
Current ratio	1.25×	1.31×	1.21×	1.49×	1.37×	1.26×	1.34×	1.32×
Debt / equity	1.4×	0.95×	1.15×	0.94×	0.97×	1.01×	0.76×	0.96×
Interest coverage	2.68×	-1.08×	-2.96×	2.52×	5.35×	5.32×	6.32×	5.55×
Dividend yield	0.0%	0.0%	0.0%	4.9%	2.6%	2.4%	4.0%	2.9%
Payout ratio	0.0%	0.0%	0.0%	65.1%	83.6%	26.3%	35.0%	24.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.0%	-31.4%	-16.3%	6.8%	5.4%	8.6%	13.5%	19.3%
Return on invested capital	1.7%	-4.1%	-5.6%	2.4%	5.2%	4.8%	8.1%	7.3%
Return on assets	0.3%	-8.2%	-5.4%	2.4%	1.8%	3.1%	5.2%	6.2%
Free cash flow yield	26.0%	82.0%	-12.1%	-8.8%	10.0%	8.6%	5.2%	1.5%
Earnings yield	1.6%	-136.0%	-28.3%	7.5%	3.1%	9.1%	11.4%	11.7%
Enterprise value	€196.3M	€105.2M	€238.7M	€281.8M	€366.7M	€257.5M	€252.4M	€272.4M
Net debt / EBITDA	3.21×	3.13×	26.61×	2.91×	2.39×	2.56×	1.57×	1.34×
Cash conversion cycle (days)	89	83	103	88	49	41	19	10