olivLaw · European equity research
FIDIA S.p.A. FDA.MI
Italy · Euronext Milan · ISIN IT0005654683 · Vertical: Listed companies from Italy
FIDIA is an Italian group that designs and sells numerical controls, high-speed milling systems and after-sales services for the mould, automotive and aerospace industries. In 2023 it reported an operating loss, while the group relies on new financing sources after its composition with creditors.
At the close of 05 Nov 2026, FIDIA S.p.A. (FDA.MI) stock was 0.02 EUR (−0.96% on the day), with market capitalisation 142 EUR, beta 0.68, 52-week range 0.00–0.24 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)
- 65.8
- strong (55–70)
- Bollinger (20, 2)
- 0.01 – 0.02
- in the upper half of the band · %B 0.79 · band width 74.9%
- SMA 50 / 200
- 0.01 / 0.03
- mixed trend
- MACD (12, 26, 9)
- 0.00 / 0.00
- 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 | +27.2% | −0.6% | +27.8 pp | — |
| 3 months | +134.1% | −4.2% | +138.3 pp | — |
| 6 months | +312.0% | +4.3% | +307.7 pp | — |
| Year to date | −82.9% | +7.5% | −90.4 pp | — |
| 1 year | −90.7% | +9.9% | −100.7 pp | −6.1% |
| 3 years | −100.0% | +49.8% | −149.8 pp | +7.7% |
| 5 years | −100.0% | +42.8% | −142.8 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.
Fiscal years
| Fiscal year | 2022 | 2023 |
|---|---|---|
| Revenue | 25.9 m | 29.9 m |
| Revenue YoY | unavailable | +15.8% |
| Net income | 6.0 m | -1.3 m |
| Net income YoY | unavailable | −121.9% |
| Diluted EPS | 11,244.00 | -189.00 |
| Diluted EPS YoY | unavailable | −101.7% |
| net % | 23.1% | -4.4% |
| Free cash flow | 699.0 k | -5.0 m |
Balance sheet & financial health
Fiscal year 2023 · 31 Dec 2023
- Cash
- 3.2 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 3.4 m EUR
- Total assets
- 32.2 m EUR
- Debt / equity
- unavailable
- Current ratio
- 0.86x
- ROE
- -26.7%
- ROA
- -4.0%
- FCF margin
- -16.7%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2022 | 2023 | Source (latest year) |
|---|---|---|---|
| Revenue | 25.9 m | 29.9 m | esef· 13 Jun 2024verified |
| Operating income | -4.9 m | -1.6 m | esef· 13 Jun 2024verified |
| Depreciation & amortisation | 2.3 m | 1.4 m | esef· 13 Jun 2024verified |
| EBITDA | -2.6 m ≈ | -217.0 k ≈ | esef· 13 Jun 2024derived |
| Pre-tax income | 5.5 m | -1.2 m | esef· 13 Jun 2024verified |
| Income tax | -206.0 k | 248.0 k | esef· 13 Jun 2024verified |
| Net income | 6.0 m | -1.3 m | esef· 13 Jun 2024verified |
| Diluted EPS | 11,244.00 | -189.00 | esef· 13 Jun 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2022 | 2023 | Source (latest year) |
|---|---|---|---|
| Cash | 4.9 m | 3.2 m | esef· 13 Jun 2024verified |
| Receivables | 5.8 m | 5.5 m | esef· 13 Jun 2024verified |
| Inventories | 10.1 m | 10.7 m | esef· 13 Jun 2024verified |
| Current assets | 22.4 m | 21.9 m | esef· 13 Jun 2024verified |
| Property, plant & equipment, net | 9.3 m | 8.2 m | esef· 13 Jun 2024verified |
| Intangibles (excl. goodwill) | 999.0 k | 933.0 k | esef· 13 Jun 2024verified |
| Total assets | 34.0 m | 32.2 m | esef· 13 Jun 2024verified |
| Accounts payable | 5.5 m | 6.0 m | esef· 13 Jun 2024verified |
| Current liabilities | 19.1 m | 25.6 m | esef· 13 Jun 2024verified |
| Equity | 6.3 m | 3.4 m | esef· 13 Jun 2024verified |
| Shares outstanding at year end | 531 | 6.9 k | esef· 13 Jun 2024derived |
Cash flow · EUR
| Line | 2022 | 2023 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 793.0 k | -4.8 m | esef· 13 Jun 2024verified |
| Capex | 94.0 k | 172.0 k | esef· 13 Jun 2024verified |
| Free cash flow | 699.0 k ≈ | -5.0 m ≈ | esef· 13 Jun 2024derived |
| Investing cash flow | -231.0 k | -357.0 k | esef· 13 Jun 2024verified |
| Financing cash flow | 747.0 k | 3.4 m | esef· 13 Jun 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
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: 3 of at least 6
- score weight coverage: 18.8% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 142 EUR
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
19% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
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/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
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: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -4.4% | 8 (vs peers) | 33% |
| 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 | 0.9x | 5 (on a fixed band) | 22% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -3,516,346.2% | 0 (on a fixed band) | 44% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial5/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial8/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 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
FIDIA - S.P.A. (FDA.MI). Latest full fiscal year: 2023; data up to 2023-12-31.
Figures computed from the financial statements: revenue 29.9 m EUR in 2023; YoY growth 15.8%; net margin -4.4%; ROE -26.7%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -4.4%
- Current ratio: 0.9x
- FCF yield: -3,516,346.2%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), 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. | 6.8 bn | 21.5 | 15.4% | 8.4% | +8.7% | +24% / +60% |
| ACE.MIAcea S.p.a. | 4.6 bn | 9.6 | 18.2% | 16.6% | +0.2% | −4% / +73% |
| DIA.MIDiasorin S.p.a. | 4.3 bn | 28.3 | 9.2% | 13.0% | +0.8% | +31% / −7% |
| CRL.MICarel Industries S.p.a. | 2.9 bn | 39.5 | 16.1% | 11.7% | +8.7% | +3% / +10% |
| AMP.MIAmplifon S.p.a. | 2.7 bn | 29.9 | 8.5% | 3.8% | −0.6% | −9% / −58% |
| CMB.MICembre S.p.a. | 1.3 bn | 27.0 | 20.6% | 18.9% | +6.7% | +11% / +108% |
| COM.MIComer Industries S.p.a. | 1.3 bn | 18.6 | 12.8% | 7.1% | −23.0% | +8% / +64% |
| DNR.MIIndustrie De Nora S.p.a. | 1.1 bn | 13.4 | 8.6% | 9.4% | +1.4% | −22% / −62% |
| ARN.MIAlerion Clean Power S.p.a. In Forma Abbreviata Alerion S.p.a. | 969.2 m | 10.4 | 23.5% | 41.0% | +1.8% | −5% / −23% |
| AVIO.MIAvio S.p.a. | 883.6 m | 86.8 | 2.1% | 1.8% | +21.5% | +18% / +291% |
| CIR.MICir S.p.a. - Compagnie Industriali Riunite | 783.3 m | 6.0 | 17.1% | 7.3% | +1.6% | +4% / +72% |
| ASC.MIAscopiave S.p.a. | 646.3 m | 18.0 | 4.2% | 17.5% | +13.4% | −8% / +33% |
| AC5.MIAcinque S.p.a. | 412.6 m | 19.6 | 4.1% | 3.6% | +0.2% | −6% / +8% |
| BAN.MIBasic Net S.p.a. | 348.0 m | — | -4.9% | -3.5% | +0.4% | −30% / +5% |
| ADB.MIAeroporto Guglielmo Marconi Di Bologna S.p.a. | 324.7 m | 13.1 | 11.1% | 13.7% | +9.2% | −2% / +12% |
| CAI.MICairo Communication S.p.a. | 289.2 m | 6.4 | 8.1% | 4.4% | −1.3% | −22% / +28% |
| ECNL.MIAquafil S.p.a. | 129.6 m | — | -3.2% | -0.9% | −3.9% | −1% / −52% |
| BEC.MIB&C Speakers S.p.a. | 118.7 m | 11.7 | 18.5% | 10.2% | −1.3% | −26% / −32% |
| ABT.MIAbitare In S.p.a. | 76.0 m | 276.0 | 0.4% | 0.4% | +39.8% | −6% / −47% |
| ELC.MIElica S.p.a. | 64.3 m | — | -7.8% | -2.2% | +1.9% | −34% / −48% |
| DEX.MIDexelance S.p.a. | 50.7 m | 2.8 | 11.0% | 5.4% | +12.6% | −63% / −78% |
| CLE.MIClass Editori S.p.a. | 35.1 m | — | -29.2% | -3.8% | −0.7% | −9% / +106% |
| CLF.MICaleffi - S.p.a. | 11.6 m | 5.2 | 10.9% | 3.8% | −2.5% | −4% / −10% |
| AEF.MIAeffe S.p.a. | 10.1 m | 0.5 | 21.9% | 7.7% | −21.3% | −59% / −86% |
| BC.MIBrunello Cucinelli S.p.a. | 6.2 m | 0.0 | 26.5% | 75,526.1% | 0.0% | −5% / +15% |
1- and 3-year price returns: for FDA.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 | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
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
FIDIA is an Italian group that designs and sells numerical controls, high-speed milling systems and after-sales services for the mould, automotive and aerospace industries. In 2023 it reported an operating loss, while the group relies on new financing sources after its composition with creditors.
SWOT
Strengths
- A diversified portfolio across three business lines and a consolidated position in aerospace and mould applications.
- The service segment generates high margins and a stable source of revenue.
- Constant investment in research and development, with new projects for modular controls.
Weaknesses
- The consolidated operating result was negative in 2023, which limits internal funding capacity.
- Liquidity indicators have deteriorated, and the group depends on new financing sources.
- Dependence on strategic suppliers could affect operations if they face difficulties.
Opportunities
- Demand for automated and modular systems could open new markets, now reachable at lower cost.
- Development of the new CNC control could allow entry into sectors beyond shape and mould milling.
- Growing HSM sales could improve the operating result if the trend holds.
Threats
- Geopolitical tensions could disrupt supply chains and raise energy and transport costs.
- Currency and interest rate fluctuations could hurt results if hedging is insufficient.
- Competitive pressure from international groups and local players could reduce market share.
Risks
- Financing requirementshigh
The group depends on new financing sources after its composition with creditors, and events that reduce sales could affect its cash generation.
- Currency exposuremedium
Sales in US dollars expose the group to exchange rate swings, even though hedging instruments are used.
- Product liabilitymedium
As a maker of highly automated machinery, the group may face claims from malfunctions, although product liability insurance is in place.
- Geopolitical conflictsmedium
The war in Ukraine and tensions in the Middle East could disrupt supplies and raise costs.
- Dependence on key personnellow
Group performance depends on management, and losing key resources without replacement could have negative effects.
Investment thesis
What would need to be true (bull case)
- Consolidated revenue grew in 2023, and the HSM and service segments performed well, suggesting sustained demand.
- If the new modular controls are launched successfully, the group could reach markets it has not yet served.
- Service margins and the improving HSM result could support a return to operating profitability.
What would break the thesis
- The group reported an operating and a net loss in 2023, which may limit financial flexibility.
- Liquidity indicators have deteriorated, and dependence on new financing could become a problem if markets worsen.
- International competition and currency pressure could reduce margins if not offset by innovation.
What to watch
- Trend of the consolidated operating result and segment marginsnext 10-K
- Form and terms of new financing obtained after the composition procedure2024
- Launch of the new CNC25 numerical control and first orders2025
- Demand trend in the HSM segment and margin on sales2024
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
The FIDIA group operates in three business lines: numerical controls (CNC), high-speed milling systems (HSM) and service. Consolidated revenue was 28,606 thousand euros in 2023 1, up from 24,366 thousand euros in 2022 1. The parent company, Fidia S.p.A., reported net revenue of 18,945 thousand euros in 2023 1.
The consolidated operating result was a loss of 1,648 thousand euros in 2023 1, compared with a profit of 5,834 thousand euros in 2022 1. Net income attributable to the group was negative at -1,307 thousand euros 1, after a 2022 year boosted by the composition effect.
The group relies on several foreign subsidiaries that sell and provide technical assistance in their markets, mostly buying products directly from the parent company 1.
Segments
Market context
The company operates in international markets, where sales outside the European Union make up the bulk of revenue. The Russian market is not significant for the group 1. Because of the large share of foreign sales, the company is exposed to the US dollar 1.
Growing demand for highly automated systems, especially in the mould sector, could support the group's development plans, particularly the new CNC control under development 1.
Trends
- Russia-Ukraine conflictheadwind
Sanctions and higher energy and raw material costs could affect the supply chain and margins if tensions persist 1.
- Demand for automated systemstailwind
The numerical control market is shifting toward modular and collaborative solutions, which could open new segments for FIDIA 1.
- Middle East tensionsheadwind
The Israel-Palestine conflict could raise maritime transport costs, although the group has no direct economic interests in the region 1.
- HSM demand growthmixed
Rising HSM sales suggest solid demand, but this could be limited by the group's operating losses 1.
Competitive position
The group competes with internationally significant companies and several local players, on criteria such as product quality, technological innovation, prices and after-sales support 1. Maintaining market share requires significant investment in research and development 1.
The group's competitive edge rests on its specialisation in mould and die milling and its experience in the aerospace sector, where it strengthened its position through recent research investments 1.
- International competitors of significant size
The source mentions internationally significant groups without naming them; no US listing can be confirmed.
- Local players in the company's markets
Local competition in each market where the group is present, with no names given in the source.
- High-speed milling system manufacturers
Direct competition in the HSM segment, per the general market description in the annual report.
- Numerical control suppliers
Competition in the CNC segment, where modularity and collaboration are becoming important.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202313 Jun 2024
Sources
- [1] Annual report, fiscal year ended 2023-12-31 (ESEF) · SEC / FIDIA S.p.A. · 31 Dec 2023
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.