Antares Vision S.p.A. (AV.MI) | Investment Case

1. Company Snapshot

1.a. Company Description

Antares Vision S.p.A. provides track and trace, and inspection systems for the security and traceability of the products.It offers track and trace products, including serialization modules, aggregation systems, software suites, verification and decommissioning solutions, logistics and warehouse tracking system, and bottle tracking technology for food, cosmetics, medical, pharmaceutical, and beverage sectors.The company also provides beverage inspection solutions, including glass inspection system, cap level control system, bottle orientation system, bottle visual rotating system, and printing control system; food inspection solutions comprising contamination detection system and container inspection system; cosmetic inspection solutions; inspection solutions for medical devices; pharmaceutical inspection machines, such as tablets and capsules inspector, parenteral visual rotating inspections system, raised stopper inspection system, and LYO-check system; and turnkey inspection solutions for beverage from FT system.

In addition, it offers smart data management solutions for accurate statistics, predictive analysis, and business intelligence; remote support, software maintenance, and on site intervention services; certification training courses; remote assistance services; spare parts; and consulting services.Antares Vision S.p.A. was founded in 2007 and is headquartered in Travagliato, Italy.Antares Vision S.p.A. is a subsidiary of Regolo S.p.A.

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1.b. Last Insights on AV

Antares Vision's recent performance was driven by the announcement of Crane NXT's acquisition of a 30% stake in the company, with plans for a full takeover. This strategic move expands Crane NXT's portfolio into life sciences and food & beverage sectors. The transaction, valued at approximately €120 million, is expected to boost Antares Vision's growth prospects. Additionally, the company's inspection, detection, and track & trace technologies have positioned it as a global leader, attracting investors seeking growth potential in niche areas.

1.c. Company Highlights

Last Price	4.99
Change Percentage	0.10%
Open	4.99
Previous Close	4.99
Market Cap ( Millions)	354
Volume	29457
Year High	5.2
Year Low	2.88
M A 50	5.06
M A 200	4.37

FCF Yield	5.82%
Dividend Yield	0.00%
ROE	-6.64%
Debt / Equity	103.96%
Net Debt / EBIDTA	1678.91%
Price To Book	2.62
Price Earnings Ratio	-36.14
Price To FCF	17.18
Price To sales	1.68
EV / EBITDA	82.1

2. Transcript Summary

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3. NewsRoom

3 European Penny Stocks With Market Caps Over €40M To Watch

Nov -25

Source:

Crane NXT Reports Third Quarter 2025 Results

Nov -05

Source:

GUINEA-BISSAU AND ANTARES VISION GROUP EXPAND COLLABORATION TO ADVANCE PHARMACEUTICAL TRACEABILITY AND DIGITAL HEALTH

Sep -26

Source:

Crane NXT Moves To Acquire Antares Vision In Bold Expansion Push

Sep -12

Source:

Crane NXT to Acquire 30% Stake in Antares Vision With Aim of Full Takeover

Sep -12

Source:

Crane NXT to Acquire Antares Vision, a Global Leader in Inspection, Detection, and Track & Trace Technologies

Sep -12

Source:

European Penny Stocks: Antares Vision And Two Others To Watch

Sep -10

Source:

European Penny Stocks To Watch In August 2025

Aug -06

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.63%)

6. Segments

Long-term Business

Expected Growth: 5%

Antares Vision S.p.A.'s long-term business growth is driven by increasing demand for serialization and track-and-trace solutions in the pharmaceutical industry, expansion into new markets, and strategic partnerships. Additionally, the company's focus on innovation, R&D investments, and cost optimization efforts contribute to its growth momentum.

General Insurance and Health

Expected Growth: 4%

Antares Vision S.p.A.'s General Insurance and Health segments are driven by increasing demand for track-and-trace solutions in the healthcare industry, growing need for serialization and aggregation in pharmaceuticals, and rising adoption of digital technologies in insurance. Additionally, regulatory requirements for product safety and security, and the company's expanding presence in emerging markets, contribute to the 4% growth rate.

Other

Expected Growth: 3%

Antares Vision S.p.A.'s 'Other' segment growth is driven by increasing demand for serialization and track-and-trace solutions, expansion into new markets, and strategic partnerships. Additionally, the company's investments in digitalization, IoT, and AI technologies are enhancing its product offerings, leading to higher sales and revenue growth.

Fund Management

Expected Growth: 7%

Antares Vision S.p.A.'s 7% fund management growth is driven by increasing demand for serialization and track-and-trace solutions in the pharmaceutical industry, coupled with the company's expanding presence in emerging markets and strategic partnerships. Additionally, the growing need for supply chain transparency and regulatory compliance are also contributing to this growth.

7. Detailed Products

Serialization and Track & Trace Solutions

Antares Vision offers a comprehensive range of serialization and track & trace solutions to ensure the authenticity and traceability of pharmaceutical products throughout the supply chain.

Inspection Systems

Antares Vision provides high-performance inspection systems for the pharmaceutical, food, and beverage industries to detect contaminants and defects in products.

Machine Vision Systems

Antares Vision offers machine vision systems for quality control and inspection in various industries, including pharmaceutical, food, and beverage.

Serialization Software

Antares Vision provides serialization software solutions for the pharmaceutical industry to manage serialization data and ensure compliance with regulatory requirements.

Track & Trace Software

Antares Vision offers track & trace software solutions for the pharmaceutical industry to track and trace products throughout the supply chain.

Quality Control Systems

Antares Vision provides quality control systems for the pharmaceutical, food, and beverage industries to ensure product quality and safety.

8. Antares Vision S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Antares Vision S.p.A. is medium due to the presence of alternative inspection systems and technologies that can replace its products.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of Antares Vision S.p.A.'s products and the lack of alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of multiple suppliers for components and materials, but the company's dependence on a few key suppliers.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the inspection systems industry, including the need for significant investments in R&D and manufacturing capabilities.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established competitors in the inspection systems industry, leading to a highly competitive market.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	32.63%
Debt Cost	3.95%
Equity Weight	67.37%
Equity Cost	8.37%
WACC	6.93%
Leverage	48.44%

11. Quality Control: Antares Vision 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

Marlowe

A-Score: 7.1/10

Value: 6.1

Growth: 7.9

Quality: 7.5

Yield: 5.0

Momentum: 9.0

Volatility: 7.0

1-Year Total Return ->

Loomis

A-Score: 6.7/10

Value: 6.7

Growth: 6.9

Quality: 5.1

Yield: 6.2

Momentum: 8.0

Volatility: 7.3

1-Year Total Return ->

Prosegur

A-Score: 6.4/10

Value: 6.8

Growth: 4.4

Quality: 3.3

Yield: 8.8

Momentum: 9.0

Volatility: 6.3

1-Year Total Return ->

Freelance

A-Score: 5.3/10

Value: 9.6

Growth: 6.4

Quality: 4.3

Yield: 3.1

Momentum: 2.5

Volatility: 5.7

1-Year Total Return ->

Instalco

A-Score: 4.5/10

Value: 6.7

Growth: 7.4

Quality: 6.2

Yield: 4.4

Momentum: 1.0

Volatility: 1.3

1-Year Total Return ->

Antares Vision

A-Score: 3.7/10

Value: 4.3

Growth: 3.7

Quality: 1.5

Yield: 0.0

Momentum: 9.0

Volatility: 3.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-1.94%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.93%

Antares Vision S.p.A. - IT0005366601

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on AV

1.c. Company Highlights

Weak Momentum

More Volatile

Lower Yield

Lower Growth

Cheaper

Lower Quality

Strong Momentum

Revenues Miss

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.63%)

6. Segments

Long-term Business

Expected Growth: 5%

General Insurance and Health

Expected Growth: 4%

Other

Expected Growth: 3%

Fund Management

Expected Growth: 7%

7. Detailed Products

Serialization and Track & Trace Solutions

Inspection Systems

Machine Vision Systems

Serialization Software

Track & Trace Software

Quality Control Systems

8. Antares Vision 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: Antares Vision 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

4.99$

Current Price

4.99$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA