F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. (FILA.MI) | Investment Case

1. Company Snapshot

1.a. Company Description

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. produces and markets coloring, designing, modelling, writing, and painting objects worldwide.It provides pencils, crayons, modelling clays, chalks, oil colors, acrylics, watercolors, paints, and paper products for the fine arts, school, and leisure sectors.The company offers its products under the GIOTTO, DAS, LYRA, Canson, Maimeri, Daler-Rowney Lukas, Ticonderoga, Pacon, Strathmore, Princeton, and Arches brands.

It sells its products through a distribution network of 35 commercial branches to wholesalers, office/school suppliers, mass-market retailers, distributors, and B2B operators, as well as online channels.The company was founded in 1920 and is headquartered in Pero, Italy.

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1.b. Last Insights on FILA

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.'s recent performance was impacted by a sluggish market environment, despite a positive upswing in European markets. The company's lack of recent earnings releases and limited news flow may have contributed to investor caution. A recent article highlighted European dividend stocks, but F.I.L.A. was not specifically mentioned. Any potential share buyback initiatives could provide a boost, but no such announcements have been made. The overall market sentiment remains hopeful, driven by strong corporate earnings and geopolitical optimism.

1.c. Company Highlights

Last Price	9.74
Change Percentage	0.62%
Open	9.64
Previous Close	9.68
Market Cap ( Millions)	494
Volume	101377
Year High	11.74
Year Low	8.12
M A 50	9.59
M A 200	9.73

FCF Yield	9.79%
Dividend Yield	8.21%
ROE	10.57%
Debt / Equity	70.92%
Net Debt / EBIDTA	185.69%
Price To Book	0.87
Price Earnings Ratio	7.84
Price To FCF	10.22
Price To sales	0.83
EV / EBITDA	5.05

2. Transcript Summary

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3. NewsRoom

European Dividend Stocks To Enhance Your Portfolio

Dec -01

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Top 3 European Dividend Stocks In October 2025

Oct -03

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European Dividend Stocks To Consider For Your Portfolio

Aug -15

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Jun -11

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FILA-Fabbrica Italiana Lapis ed Affini SpA (FILAF) Q1 2025 Earnings Call Highlights: Revenue ...

May -14

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European Dividend Stocks To Boost Your Portfolio

Apr -22

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FILA-Fabbrica Italiana Lapis ed Affini SpA (STU:3S0) (H1 2024) Earnings Call Highlights: Strong ...

Oct -09

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.83%)

6. Segments

Writing & Design Objects

Expected Growth: 4.83%

F.I.L.A.'s Writing & Design Objects segment growth of 4.83% is driven by increasing demand for creative materials, expansion into e-commerce channels, and strategic partnerships with educational institutions. Additionally, the company's focus on innovative products, such as eco-friendly art supplies, has contributed to its growth.

7. Detailed Products

Giotto

A range of high-quality art supplies, including paints, markers, and colored pencils, designed for artists, designers, and students.

Maimeri Blu

A premium line of watercolors and painting materials, known for their vibrant colors and lightfastness.

Daler-Rowney

A comprehensive range of art materials, including paints, inks, and surfaces, catering to various artistic techniques and styles.

Molotow

A popular brand of spray paints and markers, favored by graffiti artists, designers, and DIY enthusiasts.

Lyra

A German brand offering a wide range of art supplies, including pencils, crayons, and paints, suitable for children and adults alike.

Prismacolor

A renowned brand of professional art supplies, including colored pencils, markers, and pastels, known for their vibrant colors and blendability.

8. F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for F.I.L.A. is medium due to the presence of alternative products in the market, but the company's strong brand reputation and quality products reduce the likelihood of customers switching to substitutes.

Bargaining Power Of Customers

The bargaining power of customers is low due to the company's strong brand reputation and the lack of price sensitivity among customers, giving F.I.L.A. an upper hand in negotiations.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of multiple suppliers in the market, but F.I.L.A.'s large scale of operations and long-term relationships with suppliers reduce the bargaining power of suppliers.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the industry, including high capital requirements and the need for specialized knowledge and expertise.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established players in the market, leading to intense competition and a high level of advertising and promotional expenses.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	38.84%
Debt Cost	9.50%
Equity Weight	61.16%
Equity Cost	10.50%
WACC	10.12%
Leverage	63.51%

11. Quality Control: F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. passed 4 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Odfjell

A-Score: 6.8/10

Value: 8.5

Growth: 7.7

Quality: 6.2

Yield: 9.4

Momentum: 6.5

Volatility: 2.7

1-Year Total Return ->

Clarkson

A-Score: 6.2/10

Value: 5.2

Growth: 7.3

Quality: 8.2

Yield: 5.6

Momentum: 5.0

Volatility: 5.7

1-Year Total Return ->

Belships

A-Score: 5.9/10

Value: 6.8

Growth: 6.0

Quality: 6.2

Yield: 7.5

Momentum: 6.0

Volatility: 3.0

1-Year Total Return ->

FILA

A-Score: 5.2/10

Value: 8.0

Growth: 5.1

Quality: 5.1

Yield: 3.8

Momentum: 3.0

Volatility: 6.0

1-Year Total Return ->

TAKKT

A-Score: 4.6/10

Value: 9.3

Growth: 1.9

Quality: 3.4

Yield: 8.8

Momentum: 0.0

Volatility: 4.0

1-Year Total Return ->

ITAB Shop Concept

A-Score: 3.5/10

Value: 6.7

Growth: 6.1

Quality: 4.7

Yield: 1.9

Momentum: 0.5

Volatility: 1.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-1.77%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

10.12%

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. - IT0004967292

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on FILA

1.c. Company Highlights

Cheaper

Average Yield

Average Quality

Average Growth

Lower Yield

Medium Volatility

Stable Momentum

Less Volatile

Revenues Miss

Strong Momentum

Better Quality

Revenues Beats

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.83%)

6. Segments

Writing & Design Objects

Expected Growth: 4.83%

7. Detailed Products

Giotto

Maimeri Blu

Daler-Rowney

Molotow

Lyra

Prismacolor

8. F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

9.74$

Current Price

9.74$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA