olivLaw · European equity research
Triboo S.p.A. TB.MI
Italy · Euronext Milan · ISIN IT0005001554 · Vertical: Listed companies from Italy
Triboo is an Italian group active in digital services for e-commerce, performance marketing and B2B and financial media. In 2023 the group refined its portfolio through disposals and reorganisations, and revenue from continuing operations fell to 78677 thousand EUR, partly offset by efficiency measures. Net financial debt rose to 14454 thousand EUR.
At the close of 05 Nov 2026, Triboo S.p.A. (TB.MI) stock was 0.32 EUR (−0.92% on the day), with market capitalisation 9.4 m EUR, dividend yield 0.00%, beta 0.11, 52-week range 0.29–0.45 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)
- 39.7
- weak (30–45)
- Bollinger (20, 2)
- 0.32 – 0.34
- below the lower band · %B -0.00 · band width 6.0%
- SMA 50 / 200
- 0.34 / 0.35
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD below 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% | −0.6% | −2.6 pp | — |
| 3 months | −7.7% | −4.2% | −3.5 pp | — |
| 6 months | −12.7% | +4.3% | −17.0 pp | — |
| Year to date | −11.7% | +7.5% | −19.3 pp | — |
| 1 year | −13.6% | +9.9% | −23.6 pp | −6.1% |
| 3 years | −55.3% | +49.8% | −105.1 pp | +7.7% |
| 5 years | −80.9% | +42.8% | −123.7 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 | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue | 94.7 m | 90.6 m | 75.5 m |
| Revenue YoY | unavailable | −4.2% | −16.7% |
| Net income | 1.8 m | 638.0 k | -4.4 m |
| Net income YoY | unavailable | −64.9% | −781.8% |
| Diluted EPS | 6.00 | 0.02 | -0.15 |
| Diluted EPS YoY | unavailable | −99.7% | −850.0% |
| net % | 1.9% | 0.7% | -5.8% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2023 · 31 Dec 2023
- Cash
- 5.5 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 30.6 m EUR
- Total assets
- 104.5 m EUR
- Debt / equity
- unavailable
- Current ratio
- 0.85x
- ROE
- -13.3%
- ROA
- -3.9%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 94.7 m | 90.6 m | 75.5 m | esef· 10 Apr 2024verified |
| Operating income | 1.8 m | 2.5 m | -2.5 m | esef· 10 Apr 2024verified |
| Interest expense | 1.4 m | 1.2 m | 1.6 m | esef· 10 Apr 2024verified |
| Pre-tax income | 1.8 m | 2.0 m | -3.8 m | esef· 10 Apr 2024verified |
| Income tax | -540.0 k | 786.0 k | -705.0 k | esef· 10 Apr 2024verified |
| Net income | 1.8 m | 638.0 k | -4.4 m | esef· 10 Apr 2024verified |
| Diluted EPS | 6.00 | 0.02 | -0.15 | esef· 10 Apr 2024verified |
| Dividend per share | 0.00 | 0.02 | 0.00 | esef· 10 Apr 2024derived |
Balance sheet · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Cash | 24.5 m | 9.3 m | 5.5 m | esef· 10 Apr 2024verified |
| Inventories | 812.0 k | 423.0 k | 1.1 m | esef· 10 Apr 2024verified |
| Current assets | 68.8 m | 58.9 m | 46.6 m | esef· 10 Apr 2024verified |
| Goodwill | 28.6 m | 28.5 m | 26.8 m | esef· 10 Apr 2024verified |
| Intangibles (excl. goodwill) | 18.1 m | 17.0 m | 15.0 m | esef· 10 Apr 2024verified |
| Total assets | 134.3 m | 120.0 m | 104.5 m | esef· 10 Apr 2024verified |
| Current liabilities | 70.2 m | 60.6 m | 54.8 m | esef· 10 Apr 2024verified |
| Total liabilities | 134.3 m | 120.0 m | — | esef· 30 May 2023verified |
| Equity | 36.1 m | 34.9 m | 30.6 m | esef· 10 Apr 2024verified |
| Shares outstanding at year end | 302.8 k | 31.9 m | 29.0 m | esef· 10 Apr 2024derived |
Cash flow · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 15.9 m | -2.4 m | 1.5 m | esef· 10 Apr 2024verified |
| Investing cash flow | -6.9 m | -7.2 m | -5.2 m | esef· 10 Apr 2024verified |
| Financing cash flow | 2.5 m | -5.6 m | -158.0 k | esef· 10 Apr 2024verified |
| Dividends paid | 0 | 536.0 k | 0 | esef· 10 Apr 2024verified |
| Share repurchases | 184.0 k | 440.0 k | 116.0 k | esef· 10 Apr 2024verified |
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: 22.9% 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: 9.4 m EUR
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
23% · 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 base of the ratio is not positive
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: 4 of at least 6; score weight coverage: 22.9% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -5.8% | 8 (vs peers) | 27% |
| 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 | -1.5x | 0 (on a fixed band) | 27% |
| Current ratio · Balance sheet | 0.8x | 4 (on a fixed band) | 18% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 1.2% | 18 (on a fixed band) | 27% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet2/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial8/100 · 1/3 factors with a value
- Returns· partial18/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 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
TRIBOO S.P.A. (TB.MI). Latest full fiscal year: 2023; data up to 2023-12-31.
Figures computed from the financial statements: revenue 75.5 m EUR in 2023; YoY growth -16.7%; net margin -5.8%; ROE -13.6%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 22.9% 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: -5.8%
- Interest coverage: -1.5x
- Current ratio: 0.8x
- Shareholder yield (distributions): 1.2%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), 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. | 6.8 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% |
| TB.MITriboo S.p.a. | 9.4 m | — | -13.6% | -5.8% | −16.7% | −13% / −58% |
1- and 3-year price returns: for TB.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
Triboo is an Italian group active in digital services for e-commerce, performance marketing and B2B and financial media. In 2023 the group refined its portfolio through disposals and reorganisations, and revenue from continuing operations fell to 78677 thousand EUR, partly offset by efficiency measures. Net financial debt rose to 14454 thousand EUR.
SWOT
Strengths
- Integrated portfolio of e-commerce services, from technology to marketing and advertising.
- ISO/IEC 27001 certification obtained in 2023 supports positioning on information security.
- A stable client base in Italy, where most services are delivered.
Weaknesses
- Negative net result from continuing operations in 2023, after goodwill impairments in the Media division.
- Net debt higher than the previous year, which reduces financial flexibility.
- Dependence on the fashion sector in e-commerce, where demand weakened in 2023.
Opportunities
- A recovery in advertising spending in sectors such as automotive and tourism could increase demand for media services.
- Combining technology and marketing services could attract new e-commerce clients.
- Focusing on B2B and financial verticals could improve profitability in the Media division.
Threats
- High competition in digital marketing and e-commerce markets could compress prices.
- Geopolitical and economic instability could again reduce clients' advertising budgets.
- Higher interest rates could slow consumer purchases and the group's financing.
Risks
- Cybersecurityhigh
Loss of data, theft of sensitive information or a security breach could affect clients and the group's reputation.
- Concentration on e-commercehigh
A slowdown in online sales, especially in fashion, could reduce the volumes of services provided.
- Client credit riskmedium
Insolvency of some clients could affect collections and could require additional provisions.
- Goodwill impairmentmedium
More conservative impairment tests could lead to further write-downs of assets in the Media division.
- Access to capitallow
If bank financing became more expensive or harder to obtain, investment plans could be postponed.
Investment thesis
What would need to be true (bull case)
- If advertising investment in automotive and tourism recovers, demand for media and marketing services could return and support Media division revenue.
- The cost efficiencies of 2023 could keep improving margins, especially if the reduction of redundancies is maintained.
- ISO/IEC 27001 certification and the integration of technology services could help the group win larger e-commerce clients.
What would break the thesis
- If the slowdown in fashion e-commerce continues, revenue in the Digital division could keep falling.
- Rising net debt and high interest rates could limit investment and the capacity to finance new acquisitions.
- The negative net result and repeated impairments in the Media division could point to structural difficulties in the editorial segment.
What to watch
- Trend in e-commerce revenue and fashion-sector volumesQ1 2027
- Results of the Media division after reorganisation around B2B and finance verticals2027
- Level of net debt and maturities of bank financingnext 10-K
- Goodwill impairment tests and any further write-downsnext 10-K
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 Triboo group provides e-commerce services, including building and running online stores, technology services, digital marketing and advertising on social networks and search engines. Its Media division publishes titles and verticals focused on B2B and finance, which the report describes as the core business and main source of profitability. In 2023 the group reorganised several entities within the Digital division, including Triboo Performance, Sabootage 2112 and Triboo Technologies, intragroup transactions with no consolidated effect.
According to the report, services make up over 70% of consolidated revenue, and over 90% of those service clients are in Italy. In e-commerce goods sales Italy has the largest share, followed by the United States and Germany, showing significant exposure to foreign markets for online sales.
Segments
Digital division
Includes building and running e-commerce stores, IT services (software, replatforming, hosting) and performance marketing campaigns. The division was reorganised in 2023 through dedicated entities and the acquisition of Digital Rock, which develops a front-end software for online stores.
Media division
Focuses on B2B and finance editorial and advertising verticals after disposing of one title and closing others at the end of 2023. The group recorded an impairment of goodwill tied to this division, based on tests it describes as particularly conservative.
Market context
The Media Hub association estimates, per the report, market growth between 2.5 and 2.9 percent, with values exceeding 9.1 billion EUR. Growth is supported by campaigns from the automotive, FMCG, tourism and publishing sectors, in the context of sporting events in Germany and France.
E-commerce of goods in Italy and other European countries remains an important market for the group, but in 2023 it was hit by slowing retail sales and reduced advertising budgets of companies, especially in fashion.
Trends
- Slowdown in e-commerceheadwind
Slower online sales and higher interest rates reduced client volumes, especially in fashion, a sector behind a significant part of the stores managed by the group.
- Return of advertising investmenttailwind
The report points to a return of investment in traditional sectors such as automotive and to next year's sporting events, which could support demand for media and marketing services.
- Preference for online shoppingtailwind
The report cites studies showing a lower environmental impact of online purchases, a theme that could favour the e-commerce channel over physical stores.
- Rules on fast fashionmixed
Regulations being adopted in some countries target fast-fashion consumption, a segment different from the mid and high fashion that is the main sector of the group's stores; the effect could be mixed.
Competitive position
The report describes high competition as a major risk in the group's reference markets, without naming competitors. Pressure comes from e-commerce service providers, digital marketing agencies and publishers of B2B and financial titles.
The group differentiates itself by integrating technology, marketing and media services, through security certifications and by combining a portfolio of online stores with specialised publications.
- E-commerce service providers
Companies that build and run online stores for brands, in direct competition with the group's technology services.
- Digital marketing agencies
Agencies that manage social media and search engine campaigns, competing for clients' advertising budgets.
- B2B and financial publishers
Specialised publishers active in the same editorial verticals as the group's Media division.
- Media sales houses
Agencies selling advertising space on digital and traditional platforms, competing for the same client segment budgets.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202310 Apr 2024
- Annual report 202230 May 2023
- Annual report 202230 May 2023
Sources
- [1] Annual report, fiscal year ended 2023-12-31 (ESEF) · SEC / Triboo 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.