Pirelli

Adjusting SOTP valuation metrics

25/06/20 -"We have decreased the EV/EBIT multiple from 12x to 10.5x to account more accurately for Pirelli's heavy reliance on its high value division, explaining the premium over other tyre producers (which ..."

PDF page sample
Pages
55
Language
English
Published on
25/06/20
Download
You may also be interested by these reports :
04/07/25
Following Valeo’s H1 pre-close call, we have adopted a slightly more positive view on the company, supported by several factors. First, S&P Mobility ...
04/07/25
Among Europe’s holding companies, Exor (BUY; Netherlands) is one of the rare, truly active stewards of capital: unafraid to rotate its portfolio, ...
03/07/25
Following Forvia’s H1 pre-close call, we have adopted a more positive view and now expect significantly higher profitability supported by several ...
30/06/25
Following Michelin’s H1 pre-close call, we have revised our estimates downward to reflect a higher-than-expected FX impact – driven by a weaker USD ...

EXECUTIVE SUMMARY

Updates Pension Risks
Target & Opinion Governance & Management
Business & Trends Graphics : Momentum
Money Making Graphics : MACD & Volumes
Debt Graphics : Sensitivities
Valuation Sector: Performance
DCF Sector: Key data
NAV/SOTP Sector: Ratios & Valorisation
Worth knowing Sector: Peers
Financials Sector: Analysis

CONFLICTS OF INTEREST

AlphaValue does not have nor seek any business with companies covered in AlphaValue Research paid by subscription. As a result, investors can be confident that there is no conflict of interest that could affect the objectivity of AlphaValue Research.

Corporate broking NO
Trading in corporate shares NO
Analyst ownership NO
Advising of corporate (strategy, marketing, debt, etc) NO
Research paid for by corporate NO
Provision of corporate access paid for by corporate NO
Link between and a banking entity NO
Brokerage activity at AlphaValue NO