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Size SBE-Varvit (VARV.MI) is an Italy Industrials company (Metal Fabrication) with a market value of $663M, the 98th largest of 123 Italy companies the cockpit tracks. Shares closed at €6.90 on 6 Nov 2026.
Performance Over six months the shares fell 6.8%, against -22.8% for the median peer and +3.1% for the Italy market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 11.3% over the last twelve months (peer median +12.2%); the operating margin is 11.8% (peer median 8.6%).
Valuation It trades at 15.1× forward earnings against a peer median of 18.9× (4th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is -5%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.8 points above its cost of capital (6.3% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €365M | €340M | €335M | €396M | €392M |
| Revenue growth | — | +1% | -15% | +1% | — |
| Gross profit | €107M | €98.8M | €92.6M | €116M | €129M |
| EBITDA | €81.2M | €79.1M | €75.4M | €90.4M | €100M |
| Net income | €35.2M | €32.8M | €32.7M | €55.3M | €52.0M |
| Free cash flow | €33.4M | €39.1M | €38.1M | €30.5M | -€9.30M |
| Capital expenditure | €24.8M | €35.0M | €40.3M | €53.2M | €55.0M |
| Total debt | n/a | €35.4M | €17.8M | €32.8M | €66.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VARV.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | -9.6% | 5th highest of 21 |
| 6-month return | -6.8% | -22.8% | 8th highest of 21 |
| Distance from 52-week high | -12.7% | -41.2% | 2nd highest of 21 |
| Revenue growth (TTM) | +11.3% | +12.2% | 10th lowest of 21 |
| Operating margin | 11.8% | 8.6% | 8th highest of 21 |
| Forward P/E | 15.1× | 18.9× | 4th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -0.9% | 13.5% | 3rd least demanding of 15 |
| Growth delivered (Del g) | -4.6% | +8.2% | lowest of 15 |
| Hurdle (Req g minus delivered) | +3.7 pp | +3.2 pp | 8th least demanding of 15 |
| ROIC minus cost of capital | +1.8 pp | +2.0 pp | 10th lowest of 21 |
| EV / EBITDA | 6.7× | 12.5× | 2nd cheapest of 12 |
| Net debt / EBITDA | -0.8× | 1.1× | 4th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SBE-Varvit VARV.MI | Italy | $663M | -7% | +11% | 12% | 15.1× | -0.9% | -4.6% |
| Gem-Year Industrial 601002.SS | China | $668M | -25% | +5% | 14% | n/a | -7.5% | -1.5% |
| Skipper SKIPPER.NS | India | $669M | +7% | +17% | 9% | 21.7× | n/a | n/a |
| Technocraft Industries (India) TIIL.NS | India | $655M | +9% | +12% | 14% | 16.0× | 18.5% | +16.3% |
| Shanghai Zhongzhou Special Alloy Materials 300963.SZ | China | $651M | -44% | +1% | 8% | n/a | n/a | n/a |
| Zhejiang Cayi Vacuum Container 301004.SZ | China | $688M | -28% | -23% | 16% | 13.6× | -8.0% | +45.9% |
| Shandong Daye 603278.SS | China | $689M | +21% | 0% | 0% | 13.7× | n/a | n/a |
| Zhejiang Zhongke Magnetic Industry 301141.SZ | China | $638M | -35% | +22% | 1% | n/a | n/a | n/a |
| Yangzhou Seashine New Materials 300885.SZ | China | $637M | -40% | +39% | 22% | n/a | 24.7% | +4.3% |
| Nan Juen International 6584.TWO | Taiwan | $633M | -59% | +44% | 27% | 15.9× | n/a | n/a |
| Shenzhen Minglida Precision Technology 301268.SZ | China | $630M | -53% | +26% | -5% | 28.9× | 40.9% | +18.4% |
| Wuxi Huadong Heavy Machinery 002685.SZ | China | $698M | -50% | +33% | 10% | n/a | n/a | n/a |
| Park-Ohio PKOH | United States | $629M | +41% | +3% | 5% | 11.8× | 8.6% | +4.3% |
| AKVA AKVA.OL | Norway | $618M | +18% | +14% | 7% | 28.0× | 3.7% | +6.7% |
| Guangdong Enpack Packaging 002846.SZ | China | $609M | -37% | +20% | 3% | 53.7× | 18.4% | +11.4% |
| Nachi-Fujikoshi 6474.T | Japan | $723M | -6% | +8% | 5% | 16.0× | 1.7% | +3.2% |
| G-SHANK Enterprise 2476.TW | Taiwan | $599M | -22% | +24% | 19% | n/a | -0.1% | +9.3% |
| Elmet ELMT | United States | $598M | +28% | +6% | 6% | 40.9× | 21.9% | +5.9% |
| SKF India SKFINDIA.NS | India | $747M | -18% | -53% | 8% | 27.3× | 32.5% | +7.1% |
| Jiangxi Yuean Advanced Materials 688786.SS | China | $587M | -13% | +12% | 21% | 30.1× | 24.8% | +11.2% |
| Hwaway Technology 001380.SZ | China | $586M | -24% | +7% | 11% | 15.6× | 1.3% | +30.4% |