IMMSI SPA (IMS) AI Stock Analysis

2 Followers

IMMSI SPA

(Milan:IMS)

Select Model

Rating:48Neutral

Price Target:EUR 0.57▲(0.00% Upside)

Action:reiterated

Date:09/14/26

The score is held back primarily by high leverage and weak bottom-line profitability (including a negative TTM net result and margin compression), despite improving TTM revenue and a notable recovery in free cash flow. Technicals are broadly neutral with only mild negative momentum, while valuation is constrained by losses (negative P/E) and no dividend yield data.

Positive Factors

Revenue reboundThe strong TTM revenue recovery indicates renewed demand and improved commercial momentum after several weaker years. If sustained, higher volumes can support better fixed-cost absorption, strengthen the operating base, and provide a foundation for rebuilding profitability across the business.

Negative Factors

High leverageLeverage remains elevated even after recent improvement, leaving the balance sheet exposed to cyclical weakness and reducing financial flexibility. Debt relative to equity can constrain investment and capital allocation, while the modest equity base provides a thinner cushion against operating deterioration.

IMMSI SPA (IMS) vs. iShares MSCI Italy ETF (EWI)

Market Cap: EUR 195.46M
Dividend Yield: ―
Average Volume (3M): 239.54K
Price to Earnings (P/E): -60.4
Beta (1Y): 0.46
Revenue Growth: -0.75%
EPS Growth: 3.70%
Country: Italy
Employees: 6,122
Sector: General
Sector Strength: 55
Industry: Auto - Manufacturers

IMMSI SPA Business Overview & Revenue Model

Company Description

Immsi S.p.A., established in 2000 and based in Mantua, Italy, is a multi-faceted company with interests spanning industrial production, real estate, and maritime construction. Its business activities extend across Italy, the broader European continen...

How the Company Makes Money

IMMSI makes money primarily through the operating results and cash flows of its controlled subsidiaries, with the dominant contribution typically coming from the Piaggio group’s two-wheeler operations. The principal revenue stream is the sale of scoo...

IMMSI SPA Financial Statement Overview

Summary

Mixed fundamentals: strong TTM revenue rebound (+20.6%) and improved cash generation (positive operating cash flow and free cash flow with +61.1% TTM FCF growth), but profitability is weak (TTM net income slightly negative, compressed gross margin ~9.3%) and leverage remains high (TTM debt-to-equity ~2.83x after being much higher previously).

Income Statement

52Neutral

Balance Sheet

34Negative

Cash Flow

61Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.36B	1.59B	1.75B	2.02B	2.13B	1.71B
Gross Profit	219.98M	206.28M	667.33M	515.88M	762.82M	642.85M
EBITDA	468.54M	252.86M	276.38M	318.38M	287.73M	240.94M
Net Income	-3.33M	98.00K	6.04M	19.08M	27.09M	12.27M
Balance Sheet
Total Assets	2.45B	2.24B	2.31B	2.28B	2.37B	2.31B
Cash, Cash Equivalents and Short-Term Investments	244.49M	156.27M	158.82M	209.17M	267.29M	294.16M
Total Debt	1.11B	1.15B	1.11B	1.04B	1.00B	1.06B
Total Liabilities	2.06B	1.89B	1.92B	1.88B	1.96B	1.92B
Stockholders Equity	210.20M	195.68M	219.92M	228.84M	240.26M	231.95M
Cash Flow
Free Cash Flow	165.30M	68.09M	-90.88M	-27.42M	65.15M	38.69M
Operating Cash Flow	277.47M	145.54M	113.91M	149.14M	219.62M	198.32M
Investing Cash Flow	-167.35M	-148.88M	-179.42M	-169.75M	-141.40M	-142.72M
Financing Cash Flow	13.03M	16.50M	26.56M	-43.80M	-103.47M	-24.54M

IMMSI SPA Technical Analysis

Technical Analysis SentimentPositive

Last Price0.57

Price Trends

50DMA0.52Positive

100DMA0.52Positive

200DMA0.51Positive

Market Momentum

MACD0.01Negative

RSI68.14Neutral

STOCH86.02Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:IMS, the sentiment is Positive. The current price of 0.57 is above the 20-day moving average (MA) of 0.53, above the 50-day MA of 0.52, and above the 200-day MA of 0.51, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 68.14 is Neutral, neither overbought nor oversold. The STOCH value of 86.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:IMS.

IMMSI SPA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IT:IMS against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IT:IP	71Outperform	EUR 4.14B	19.84	10.06%	0.88%	0.99%	-0.11%
IT:PIA	64Neutral	EUR 790.97M	19.91	8.43%	2.55%	-0.94%	8.57%
IT:LDO	63Neutral	EUR 29.64B	41.83	11.71%	1.24%	10.11%	7.22%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IT:FCT	52Neutral	EUR 4.76B	18.33	21.95%	―	-0.60%	41.35%
IT:IMS	48Neutral	EUR 195.46M	-60.42	-1.67%	―	-0.75%	3.70%
IT:PINF	48Neutral	EUR 94.00M	-105.26	-3.16%	―	77.50%	89.32%

* General Sector Average

Performance Comparison

IT:IMS and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IT:IMS	IMMSI SPA	0.57	0.03	6.37%
IT:FCT	Fincantieri S.p.A.	12.10	-7.30	-37.63%
IT:IP	Interpump Group SPA	39.88	-3.07	-7.15%
IT:LDO	Leonardo S.P.A.	50.62	-0.13	-0.25%
IT:PIA	Piaggio & C. SPA	2.23	0.47	26.77%
IT:PINF	Pininfarina SPA	1.20	0.36	42.86%

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.

Date of analysis: Sep 14, 2026

IMMSI SPA AI Stock Analysis