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Saipem (SAPMY) AI Stock Analysis
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Saipem
(Other OTC:SAPMY)
The score is primarily supported by improved financial performance (turnaround to profitability, strong revenue growth, materially better leverage, and solid recent cash generation). Offsetting this are still-thin net margins and cash-flow volatility, while technicals are neutral and valuation is balanced between an elevated P/E and a supportive dividend yield.
Saipem (SAPMY) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $9.60B
- Dividend Yield
- 3.96%
- Average Volume (3M)
- 5,760
- Price to Earnings (P/E)
- 32.8
- Beta (1Y)
- 0.65
- Revenue Growth
- 9.32%
- EPS Growth
- -12.64%
- Country
- US
- Employees
- 30,409
- Sector
- Energy
- Sector Strength
- 65
- Industry
- Oil & Gas Equipment & Services
Saipem Business Overview & Revenue Model
Company Description
Saipem SpA provides energy and infrastructure solutions worldwide. It operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments. The company offers development of subsea fields and pipelaying; installation and lifting of...
How the Company Makes Money
Saipem primarily makes money by executing large, contract-based projects for customers in the energy and infrastructure sectors. Revenue is mainly generated from: (1) EPCI and project execution contracts, where Saipem is paid to engineer, procure mat...
Saipem Earnings Call Summary
The earnings call reflects a strong performance in Q3 2024, with significant achievements in order intake, revenue growth, and cash flow generation. While there are challenges related to the temporary suspension in Saudi Arabia and legacy onshore projects, the company's upgraded guidance and robust backlog provide a positive outlook.
Q3-2024 Updates
Positive Updates
Negative Updates
Company Guidance
In the recent earnings call, Saipem executive Alessandro Puliti provided a robust outlook for the company's performance in 2024. For the third quarter, Saipem achieved the highest quarterly order intake since Q2 2019, with revenues reaching €3.7 billion, marking a 23% year-on-year increase. The company also reported an EBITDA of €340 million, reflecting a 48% year-on-year growth. The EBITDA margin improved by 40 basis points to 9.2%, supported by the E&C and drilling offshore activities. Saipem's net cash flow generation stood at €115 million, with a significant order intake of €6.4 billion, leading to a record high backlog of €33 billion. Based on these strong results, Saipem upgraded its 2024 guidance, expecting revenues to exceed €14 billion and EBITDA to surpass €1.3 billion, driven by the performance in offshore E&C and despite some impact from the temporary suspension of operations in Saudi Arabia.
Saipem Financial Statement Overview
Summary
Financials reflect a meaningful turnaround with positive net income in 2023–2025 and TTM, strong TTM revenue growth (~77%), and stable operating profitability (TTM EBIT margin ~4.8%, EBITDA margin ~10.2%). Balance sheet leverage has improved substantially (debt-to-equity ~0.47 TTM), and cash generation is strong (TTM operating cash flow ~1.50B; free cash flow ~1.21B). Offsetting strengths are still-thin net margins (~2.0% TTM) and notable historical volatility in earnings and cash flow (including earlier losses and sharp TTM free-cash-flow decline of ~-74%).
Income Statement
74PositiveBalance Sheet
70PositiveCash Flow
66Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.64B | 14.89B | 14.55B | 11.88B | 9.99B | 6.53B |
| Gross Profit | 5.06B | 1.81B | 4.43B | 3.69B | 3.31B | -136.00M |
| EBITDA | 1.72B | 1.64B | 1.32B | 899.98M | 538.98M | -1.73B |
| Net Income | 267.00M | 297.77M | 306.00M | 179.00M | -337.30M | -2.74B |
Balance Sheet | ||||||
| Total Assets | 5.46B | 14.61B | 14.52B | 12.87B | 12.40B | 13.14B |
| Cash, Cash Equivalents and Short-Term Investments | 1.08B | 2.35B | 2.50B | 2.22B | 2.28B | 1.92B |
| Total Debt | 1.19B | 3.10B | 3.02B | 3.12B | 2.13B | 2.83B |
| Total Liabilities | 3.15B | 11.97B | 11.99B | 10.47B | 10.31B | 11.19B |
| Stockholders Equity | 2.31B | 2.64B | 2.52B | 2.39B | 2.21B | 326.00M |
Cash Flow | ||||||
| Free Cash Flow | 1.21B | 1.11B | 735.00M | 114.00M | -990.00M | -141.00M |
| Operating Cash Flow | 1.50B | 1.44B | 1.06B | 586.00M | -477.00M | 90.00M |
| Investing Cash Flow | -712.00M | -614.74M | -542.00M | -175.00M | 5.00M | -490.00M |
| Financing Cash Flow | -550.00M | -1.18B | -544.00M | -282.00M | 871.00M | 331.00M |
Saipem Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SAPMY, the sentiment is Negative. The current price of 1.00 is below the 20-day moving average (MA) of 1.00, below the 50-day MA of 1.01, and above the 200-day MA of 0.94, indicating a neutral trend. The MACD of -0.00 indicates Negative momentum. The RSI at 49.64 is Neutral, neither overbought nor oversold. The STOCH value of 76.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SAPMY.
Saipem Peers Comparison
Overall Rating
FTI77Outperform
BKR69Neutral
HAL66Neutral
SLB66Neutral- SAPMY65Neutral
NOV59Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| FTI | 77Outperform | $26.74B | 21.23 | 38.54% | 0.29% | 7.95% | 42.53% |
| BKR | 69Neutral | $54.85B | 18.85 | 14.83% | 1.67% | 3.71% | 0.14% |
| HAL | 66Neutral | $29.92B | 15.13 | 18.46% | 1.88% | 1.53% | 58.46% |
| SLB | 66Neutral | $79.32B | 25.84 | 11.77% | 2.18% | 4.57% | -20.58% |
| Sector * | 65Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
| SAPMY | 65Neutral | $9.91B | 32.78 | 10.42% | 3.96% | 9.32% | -12.64% |
| NOV | 59Neutral | $6.88B | 48.23 | 2.31% | 2.26% | -0.96% | -59.98% |
* Energy Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SAPMY | Saipem Spa | 1.00 | 0.49 | 95.69% | |
| BKR | Baker Hughes Company | 55.23 | 7.34 | 15.32% | |
| FTI | TechnipFMC | 68.77 | 26.81 | 63.89% | |
| HAL | Halliburton Company | 36.17 | 9.53 | 35.77% | |
| NOV | NOV Inc. | 19.29 | 4.57 | 31.09% | |
| SLB | SLB N.V. | 53.74 | 17.60 | 48.72% |
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: Aug 04, 2026