olivLaw · European equity research
Cairo Communication S.p.A. CAI.MI
Italy · Euronext Milan · ISIN IT0004329733 · Vertical: Listed companies from Italy
Cairo Communication is an Italian media group that controls RCS MediaGroup and holds titles such as Corriere della Sera and La Gazzetta dello Sport, active in press, television, sports events and publishing. In 2024 the group took control of RCS, and in 2025 it launched a partial voluntary tender offer on an 18.0% slice of its capital.
At the close of 04 Nov 2026, Cairo Communication S.p.A. (CAI.MI) stock was 2.16 EUR (+3.60% on the day), with market capitalisation 290.6 m EUR, P/E 6.4 on diluted EPS of 0.34 EUR over the last 12 months, dividend yield 12.39%, beta 0.39, 52-week range 2.04–2.87 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 60.4
- strong (55–70)
- Bollinger (20, 2)
- 2.02 – 2.12
- above the upper band · %B 1.36 · band width 5.0%
- SMA 50 / 200
- 2.17 / 2.44
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.02 / -0.04
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +3.3% | +0.4% | +3.0 pp | — |
| 3 months | −8.7% | −3.3% | −5.4 pp | — |
| 6 months | −15.8% | +4.0% | −19.7 pp | — |
| Year to date | −23.3% | +8.1% | −31.4 pp | — |
| 1 year | −23.9% | +10.7% | −34.6 pp | −5.6% |
| 3 years | +25.1% | +50.1% | −24.9 pp | +6.7% |
| 5 years | +13.7% | +43.6% | −29.9 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 50 percentile of its own 2-quarter history (min 6.3, median 6.8, max 7.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 |
|---|---|---|
| Revenue | 1.1 bn | 1.0 bn |
| Revenue YoY | unavailable | −1.3% |
| Net income | 38.4 m | 45.2 m |
| Net income YoY | unavailable | +17.7% |
| Diluted EPS | 0.29 | 0.34 |
| Diluted EPS YoY | unavailable | +17.5% |
| net % | 3.7% | 4.4% |
| Free cash flow | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 83.3 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 929.6 m EUR
- Total assets
- 1.8 bn EUR
- Debt / equity
- unavailable
- Current ratio
- 0.96x
- ROE
- 5.0%
- ROA
- 2.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | Source (latest year) |
|---|---|---|---|
| Revenue | 1.1 bn | 1.0 bn | esef· 15 Apr 2025verified |
| Operating income | 86.9 m | 102.6 m | esef· 15 Apr 2025verified |
| Pre-tax income | 75.4 m | 92.8 m | esef· 15 Apr 2025verified |
| Income tax | 14.3 m | 23.2 m | esef· 15 Apr 2025verified |
| Net income | 38.4 m | 45.2 m | esef· 15 Apr 2025verified |
| Diluted EPS | 0.29 | 0.34 | esef· 15 Apr 2025verified |
| Dividend per share | 0.23 | 0.27 | esef· 15 Apr 2025derived |
Balance sheet · EUR
| Line | 2023 | 2024 | Source (latest year) |
|---|---|---|---|
| Cash | 58.1 m | 83.3 m | esef· 15 Apr 2025verified |
| Inventories | 21.4 m | 19.3 m | esef· 15 Apr 2025verified |
| Current assets | 430.0 m | 472.3 m | esef· 15 Apr 2025verified |
| Total assets | 1.8 bn | 1.8 bn | esef· 15 Apr 2025verified |
| Current liabilities | 487.6 m | 489.6 m | esef· 15 Apr 2025verified |
| Total liabilities | 878.5 m | 882.9 m | esef· 15 Apr 2025verified |
| Equity | 895.3 m | 929.6 m | esef· 15 Apr 2025verified |
| Shares outstanding at year end | 134.3 m | 134.5 m | esef· 24 Sept 2025derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 290.6 m EUR
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
27% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 2.92 – 9.45 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E2.92 – 9.45 (Mid 5.31)20 companies used · median multiple 15.8x · quartiles 8.7x – 28.1xAC5.MI, ACE.MI, ADB.MI, AEF.MI, AMP.MI, ARN.MI, ASC.MI, BC.MI, BEC.MI, CIR.MI, CLF.MI, CMB.MI, COM.MI, CRL.MI, CY4.MI, DEX.MI, DIA.MI, DLG.MI, DNR.MI, ELN.MI
- Dividend discount (DDM)3.64 – 4.96 (Mid 4.20)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 4.4% | 41 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 14 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | 6.4x | 77 (vs peers) | 38% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 12.4% | 100 (on a fixed band) | 23% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial14/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial41/100 · 1/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial77/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CAIRO COMMUNICATION S.P.A. (CAI.MI). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 1.0 bn EUR in 2024; YoY growth -1.3%; net margin 4.4%; ROE 8.1%.
The estimated value range is 3.28–7.20 EUR per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 4.75 EUR, the price of 2.16 EUR leaves a potential of 120.1% (value / price − 1) and a margin of safety of 54.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 6.4x
- Shareholder yield (distributions): 12.4%
- The price is below the estimated value range
What contradicts it
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Italy · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DLG.MIDe' Longhi S.p.a. | 6.7 bn | 21.3 | 15.4% | 8.4% | +8.7% | +22% / +58% |
| ACE.MIAcea S.p.a. | 4.6 bn | 9.6 | 18.2% | 16.6% | +0.2% | −4% / +72% |
| DIA.MIDiasorin S.p.a. | 4.4 bn | 28.8 | 9.2% | 13.0% | +0.8% | +33% / −5% |
| CRL.MICarel Industries S.p.a. | 3.0 bn | 40.9 | 16.1% | 11.7% | +8.7% | +7% / +14% |
| AMP.MIAmplifon S.p.a. | 2.6 bn | 29.1 | 8.5% | 3.8% | −0.6% | −11% / −59% |
| ELN.MIEl.en. - S.p.a. | 1.3 bn | 31.4 | 10.9% | 7.3% | +4.2% | +31% / +79% |
| CMB.MICembre S.p.a. | 1.3 bn | 27.9 | 20.6% | 18.9% | +6.7% | +15% / +114% |
| COM.MIComer Industries S.p.a. | 1.3 bn | 19.1 | 12.8% | 7.1% | −23.0% | +11% / +68% |
| DNR.MIIndustrie De Nora S.p.a. | 1.1 bn | 13.7 | 8.6% | 9.4% | +1.4% | −21% / −61% |
| ARN.MIAlerion Clean Power S.p.a. In Forma Abbreviata Alerion S.p.a. | 986.3 m | 10.6 | 23.5% | 41.0% | +1.8% | −3% / −22% |
| AVIO.MIAvio S.p.a. | 909.3 m | 89.4 | 2.1% | 1.8% | +21.5% | +22% / +302% |
| CIR.MICir S.p.a. - Compagnie Industriali Riunite | 799.2 m | 6.1 | 17.1% | 7.3% | +1.6% | +6% / +75% |
| ASC.MIAscopiave S.p.a. | 639.9 m | 17.9 | 4.2% | 17.5% | +13.4% | −9% / +31% |
| AC5.MIAcinque S.p.a. | 408.7 m | 19.4 | 4.1% | 3.6% | +0.2% | −7% / +7% |
| BAN.MIBasic Net S.p.a. | 345.1 m | — | -4.9% | -3.5% | +0.4% | −31% / +4% |
| ADB.MIAeroporto Guglielmo Marconi Di Bologna S.p.a. | 319.0 m | 12.8 | 11.1% | 13.7% | +9.2% | −3% / +10% |
| CAI.MICairo Communication S.p.a. | 290.6 m | 6.4 | 8.1% | 4.4% | −1.3% | −22% / +29% |
| ECNL.MIAquafil S.p.a. | 130.1 m | — | -3.2% | -0.9% | −3.9% | −1% / −52% |
| BEC.MIB&C Speakers S.p.a. | 119.8 m | 11.8 | 18.5% | 10.2% | −1.3% | −25% / −31% |
| ABT.MIAbitare In S.p.a. | 76.3 m | 277.0 | 0.4% | 0.4% | +39.8% | −6% / −47% |
| ELC.MIElica S.p.a. | 64.0 m | — | -7.8% | -2.2% | +1.9% | −34% / −49% |
| DEX.MIDexelance S.p.a. | 50.7 m | 2.8 | 11.0% | 5.4% | +12.6% | −63% / −78% |
| CLE.MIClass Editori S.p.a. | 34.4 m | — | -29.2% | -3.8% | −0.7% | −11% / +102% |
| AEF.MIAeffe S.p.a. | 11.7 m | 0.6 | 21.9% | 7.7% | −21.3% | −52% / −84% |
| CLF.MICaleffi - S.p.a. | 11.6 m | 5.2 | 10.9% | 3.8% | −2.5% | −4% / −10% |
1- and 3-year price returns: for CAI.MI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.20 Total return -35% · Per year -35% | 2.13 Total return 11% · Per year 11% | 3.22 Total return 64% · Per year 64% |
| 3 years | 1.03 Total return -27% · Per year -10% | 2.07 Total return 32% · Per year 10% | 3.46 Total return 106% · Per year 27% |
| 5 years | 0.89 Total return -19% · Per year -4% | 2.02 Total return 53% · Per year 9% | 3.72 Total return 152% · Per year 20% |
- Exit P/E± 0.52
- Net margin± 0.36
- Annual revenue growth± 0.32
- Annual dilution± 0.03
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Cairo Communication is an Italian media group that controls RCS MediaGroup and holds titles such as Corriere della Sera and La Gazzetta dello Sport, active in press, television, sports events and publishing. In 2024 the group took control of RCS, and in 2025 it launched a partial voluntary tender offer on an 18.0% slice of its capital 1.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Interest rate riskmedium
All debt instruments of the company carry variable rates, so a rise in rates could increase financing costs 1.
- Macroeconomic riskmedium
Activity depends on economic conditions in Italy and Spain, and a slowdown could reduce advertising 1.
- Trade credit risklow
Trade receivables are concentrated in group companies, and external exposure is limited 1.
- Offer financing riskhigh
The partial tender offer will be financed from own resources and a loan, which could raise debt if results weaken 1.
- Publishing riskmedium
The decline of print and book sales may weigh on publishing revenue over the long term 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Outcome of the partial tender offer and its effect on the capital structure2025
- Evolution of advertising and sales revenue at RCS after integrationQ1 2026
- Evolution of the book market and of the publishing brands in the portfolio2026
- Level of net debt and financing costs after the offernext annual report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Cairo Communication S.p.A. is the parent of a group active in publishing, television, advertising and event organisation, focused on Italy and Spain 1. Through control of RCS MediaGroup it manages titles such as Corriere della Sera, La Gazzetta dello Sport and El Mundo, while LA7 is its second major television component 1. The parent itself works mainly as a holding and sub-concedes advertising activity to CAIRORCS Media 1.
Segments
Publishing and periodicals
The segment includes dailies, magazines and book collections. In 2024 RCS brands posted strong gains in volume and value on the book market, while the market as a whole declined 1. Sports and general news titles such as La Gazzetta dello Sport kept leading positions in their segments 1.
Market context
Trends
- Digitalisation of contenttailwind
The group is expanding podcasts, live video and digital partnerships, which could attract new audiences if readers shift to online formats 1.
- Decline of printheadwind
The book market fell in volume in 2024, and print press faces structural pressure, which could limit sales revenue 1.
- Consolidation under one controlmixed
Taking control of RCS may create editorial and advertising synergies, but also integration pressure and debt 1.
- Events and sporttailwind
Sports and cultural events generate audience and economic benefits for the areas they cross, supporting advertising sales 1.
Competitive position
The group competes with other Italian and Spanish publishers and media houses for audience and advertising, and in sport and television it meets specialised operators 1. Pressure also comes from digital platforms that attract advertising budgets 1.
- Mondadori (Italy)
Direct competitor in books and magazines in Italy, with comparable positions in the book market 1.
- Spanish press publishers
Dailies and magazines competing with El Mundo and Marca in the Spanish market 1.
- Italian television operators
Broadcasters competing with LA7 for audience and advertising 1.
- Digital content platforms
Online services attracting readers' attention and advertisers' budgets 1.
News & filings
In the press
- Egypt’s LNG imports top 2025 record as Cairo pushes East Mediterranean gas hub ambitionsbne IntelliNews (EN) · 03 Nov 2026 · EN
- 🇹🇷 🇪🇬 Türkiye offers Egypt a maritime boundary deal, stating that Cairo could ga…Telegram — Intel Slava Z (pro-RU OSINT EN) · 28 Oct 2026 · EN
- Imagini cu Elwira și Mihai Petre în Cairo. Vacanța pe care au plănuit-o pentru această toamnă. „Când visele tale devin realitate”Libertatea.ro · 28 Oct 2026 · RO
- Turcia propune Egiptului un acord maritim: Cairo ar câștiga 15.000 km pătrați în plus decât printr-un pact cu GreciaAntena 3 CNN · 26 Oct 2026 · RO
- Tir sportiv: Peter Sidi a adus României aur la Mondialele de la CairoAgerpres · 20 Oct 2026 · RO
- From Cairo to Tokyo: Can you guess these twin cities?Al Jazeera English · 14 Oct 2026 · EN
- Sisi’s Asian Tour: Egypt’s Strategic Shift Amid Middle East Tensions and Xi’s Cairo VisitModern Diplomacy · 10 Oct 2026 · EN
- Atac cu rachete și drone asupra aeroportului din Aden. Un avion din Cairo a fost deviat spre JeddahMediafax · 07 Oct 2026 · RO
- Row erupts over Cairo mural depicting Tutankhamun and Nefertiti with dark skinThe Guardian World · 02 Oct 2026 · EN
- Egypt's $4 Billion Bet To Bolt 40 Million Passengers Onto Cairo's Existing AirportSimple Flying · 01 Oct 2026 · EN
- Ratcliffe in Cairo: Why China Is Watching U.S.-Egypt Security TiesModern Diplomacy · 22 Sept 2026 · EN
- Ionuț Vulpescu, întâlniri cu patriarhii din Cairo și un apel pentru protejarea minorităților creștineG4Media · 22 Sept 2026 · RO
- Directorul CIA s-a întâlnit cu al-Sissi la Cairo. Washingtonul se teme de o "escaladare rapidă” a situaţiei din Orientul Mijlociu - RFISurge — Google News · 20 Sept 2026 · RO
- Why MBS’s Cairo Visit Matters for BRICS and the Global SouthModern Diplomacy · 16 Sept 2026 · EN
- As the China-US AI race reaches Cairo, Egypt faces a strategic decisionAl Jazeera — World · 04 Sept 2026 · EN
- China and Egypt’s New Power Play: What Xi Jinping’s Cairo Visit Means for the NileModern Diplomacy · 03 Sept 2026 · EN
- President Xi Jinping arrives in Cairo for state visit to EgyptCGTN — World · 01 Sept 2026 · EN
- Xi Jinping in Cairo: How China Is Deepening Its Strategic Partnership With EgyptModern Diplomacy · 01 Sept 2026 · EN
- More value in Cairo’s trash, but less for those who collect itAl Jazeera — World · 31 Aug 2026 · EN
- Xi Jinping’s Cairo trip marks ‘best ties in history’ as Egypt seeks to balance WestSouth China Morning Post — China · 31 Aug 2026 · EN
Annual reports (ESEF)
- Annual report 202415 Apr 2025
- Annual report 202424 Sept 2025
Sources
- [1] Annual report, fiscal year ended 2024-12-31 (ESEF) · SEC / Cairo Communication S.p.A. · 31 Dec 2024
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.