Added to YB: 2025-05-26
Pitch date: 2025-05-25
COM.MI [bullish]
Comer Industries S.p.A.
+65.08%
current return
Author Info
Company Info
Comer Industries S.p.A. designs and produces engineering systems and mechatronic solutions for power transmission applications in North America, Latin America, the Asia pacific, Europe, the Middle East, and Africa.
Market Cap
EUR 1.4B
Pitch Price
EUR 29.50
Price Target
N/A
Dividend
1.64%
EV/EBITDA
10.17
P/E
23.41
EV/Sales
1.67
Sector
Machinery
Category
value
On The Floor
COM.MI (new position): Italian transmission systems supplier to Tier 1 OEMs (Deere, CAT, CNH). Lowest-cost operator w/ 50% higher margins vs peers, 15% ROIC, 9% FCF yield. 2024 trough at 12x EV/EBIT, 60% plant utilization vs 80-85% at peak. 10-20% rev growth could hit 15% EBIT margins (6x fwd EV/EBIT). €300-400M M&A capacity, CEO hates idle cash. WPG deal proven integrator. Risks: PE overhang until Jul'26, ag cycle timing, 11% float. 4% position, targeting high-teens to low-20s IRR. Would add on dips to 1x P/B.
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