Added to YB: 2026-06-25
Pitch date: 2026-06-23
EM.MI [neutral]
Emak S.p.A.
Author Info
Dismissed & Asset Backed has their heads stuck in 10Ks and 10Qs of 'old world' businesses trading below tangible book value. Sign up for the newsletter.
Company Info
Emak S.p.A., together with its subsidiaries, design solutions for gardening, agriculture, forestry, cleaning, and industries Europe, Americas, and internationally.
Market Cap
EUR 145.3M
Pitch Price
N/A
Price Target
1.92
Dividend
3.36%
EV/EBITDA
6.06
P/E
11.75
EV/Sales
0.62
Sector
Household Durables
Category
value
Emak (EM) – A Family-Controlled Italian Acquisitive Conglomerate at 0.81x TB
EM.MI (overview): Italian family-controlled (Yama 69%) outdoor power equipment/pumps conglomerate at 0.81x TB (vs 2.83x in 2018), 5x EV/EBITDA. €612m sales, weak 1Q26 (-8.1%), high 3x ND/EBITDA, €78m refinancing due. Normalization +25-30% p.a. upside but cyclical, low visibility, patience needed. Buyout/SOTP optionality. Author owns no shares.
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