Want to see FR:ALMEX full AI Analyst Report?
Top Page
AIRTIME PARTECIPAZIONI S.P.A.
(ALMEX)
Select Model
Select Model
Rating:45Neutral
Price Target:
€3.00
▼(-13.79% Downside)
Action:Reiterated
Date:08/06/26
The score is pressured primarily by weak and volatile profitability (net losses in 2024–2025) and a bearish technical setup with the price below major moving averages. These are partially offset by a strong 2025 cash flow rebound and a balance sheet supported by equity and generally contained leverage, but valuation remains difficult to justify with negative earnings and no dividend yield data.
Positive Factors
Strong 2025 Cash Generation
The sharp improvement in operating and free cash flow strengthens the company’s ability to fund investments, support portfolio companies, and meet obligations without relying entirely on external financing. If sustained, this cash-generation capacity could improve financial resilience over the next several quarters.
Negative Factors
Persistent Net Losses
Two consecutive years of substantial net losses weaken earnings quality and make the company’s financial performance less predictable. Continued losses could reduce equity over time, constrain reinvestment capacity, and make it harder for the holding company to compound value from its underlying participations.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong 2025 Cash Generation
The sharp improvement in operating and free cash flow strengthens the company’s ability to fund investments, support portfolio companies, and meet obligations without relying entirely on external financing. If sustained, this cash-generation capacity could improve financial resilience over the next several quarters.
Read all positive factors
AIRTIME PARTECIPAZIONI S.P.A. (ALMEX) vs. iShares MSCI France ETF (EWQ)
Market Cap
€25.64M
Dividend YieldN/A
Average Volume (3M)29.93K
Price to Earnings (P/E)―
Beta (1Y)-0.33
Revenue Growth-79.91%
EPS Growth-194.46%
CountryFR
Employees11
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)-3.72
Shares Outstanding8,353,129
10 Day Avg. Volume29,751
30 Day Avg. Volume29,928
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)2.13
Price to Sales (P/S)0.66
P/FCF Ratio3.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)€294.70M
AIRTIME PARTECIPAZIONI S.P.A. Business Overview & Revenue Model
Company Description
Mexedia Società Per Azioni S.B. is an Italian technology firm specializing in the telecommunications and business services industries. The company provides diverse technological solutions designed to streamline interactions between businesses and ...
AIRTIME PARTECIPAZIONI S.P.A. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
63
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 118.09M | 72.90M | 323.87M | 140.84M | 131.80M |
| Gross Profit | 10.22M | 7.40M | 22.23M | 11.84M | 10.21M |
| EBITDA | -14.91M | -23.65M | 12.30M | 8.01M | 7.05M |
| Net Income | -17.60M | -20.01M | 4.47M | 4.43M | 2.96M |
Balance Sheet | |||||
| Total Assets | 183.52M | 157.52M | 168.52M | 96.93M | 85.27M |
| Cash, Cash Equivalents and Short-Term Investments | 2.42M | 1.70M | 548.00K | 2.67M | 5.63M |
| Total Debt | 5.83M | 327.00K | 41.82M | 29.05M | 24.02M |
| Total Liabilities | 157.61M | 116.81M | 101.68M | 34.26M | 27.27M |
| Stockholders Equity | 36.36M | 47.36M | 66.84M | 62.67M | 57.99M |
Cash Flow | |||||
| Free Cash Flow | 22.06M | 1.57M | -10.62M | -2.24M | -73.43M |
| Operating Cash Flow | 31.65M | 8.26M | 53.00K | -2.09M | -18.35M |
| Investing Cash Flow | -30.67M | -12.64M | -12.28M | -268.00K | -55.08M |
| Financing Cash Flow | -256.00K | 5.53M | 12.77M | 5.02M | 79.06M |
AIRTIME PARTECIPAZIONI S.P.A. Technical Analysis
Negative
3.48
Price Trends
3.56
Negative
4.44
Negative
7.36
Negative
Market Momentum
-0.15
Positive
35.51
Neutral
34.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALMEX, the sentiment is Negative. The current price of 3.48 is above the 20-day moving average (MA) of 3.24, below the 50-day MA of 3.56, and below the 200-day MA of 7.36, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 35.51 is Neutral, neither overbought nor oversold. The STOCH value of 34.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALMEX.
AIRTIME PARTECIPAZIONI S.P.A. Peers Comparison
UnderperformOutperform
Sector (60)
FR:ALMEX
AIRTIME PARTECIPAZIONI S.P.A.
3.06
-43.94
-93.49%
FR:LTA
ALTAMIR
22.60
-3.70
-14.07%
FR:IDIP
Institut de Developpement Industriel SA IDI
67.40
-3.87
-5.43%
FR:ALBON
Compagnie Lebon SA
96.00
10.47
12.23%
FR:ALAUD
Audacia SA
3.87
0.50
14.90%
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.