Fiat S.p.A. (ADR) (NASDAQOTH:FIATY)

CAPS Rating: 4 out of 5

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Member Avatar caninvest (< 20) Submitted: 9/7/2014 6:51:51 PM : Outperform Start Price: $9.84 FIATY Score: +3.17

It sounds as if once uncertainty about a merger is clarified and the stock finds a New York listing, more institutional investors will show interest and the share price will rise.

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Member Avatar MKArch (99.73) Submitted: 6/29/2014 11:19:18 AM : Outperform Start Price: $9.84 FIATY Score: +0.47

I'm not that much of a car buff to begin with and analyzing stocks is not a full time job for me so there's no way I'm diving down into all the brands and all the markets the combined Fiat-Chrysler compete in. Stocks like this one interest me when I have a large margin of safety and I think I can make some macro level judgments about the direction of the company.

About 60% of their commodity auto sales come from North America (NAFTA) where the auto market in general has mostly recovered from the great recession but there are probably opportunities for some modest market share gains and maybe some better margin with increased efficiency. EMEA which encompasses Fiat's home market is the next largest market at ~22% of commodity auto sales and this market looks to be just now digging itself out from the great recession with substantial opportunity for growth as the economies in this area recover and normalize. I'm with Jim Chanos on China and commodities so I don't want to see a lot of exposure to China and with APAC at only 8% of commodity auto sales I feel good. LATAM rounds out the regions at 10% with a large share of Brazil not comforting me, as I worry they are tied to close to China's commodity bubble, but still small enough to not worry too much.

I'm not an expert on auto companies but I would assume top line growth would increase at the bottom line with higher capacity usage of the factories. M* has a fair value about double the current share price and it's currently trading for only 0.9X book. Ford currently trades for over 2X book, GM a little under 2X book, my guess is as Europe recovers and fuels top and bottom line growth, Fiat's price to book gets back to around the 2X mark (as it increases). Current P/E is 14, not a screaming buy but with significant growth from a recovering Europe and modest growth in North America along with operating leverage increasing the amount going to the bottom line, the E could be in line for significant growth over the next few years. It's definitely worth a shot in CAPS and I'll mull adding some to my real life portfolio.

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Member Avatar 401ktimer1 (57.35) Submitted: 4/7/2014 1:29:58 PM : Outperform Start Price: $12.01 FIATY Score: -24.40

Jeep and Ram divisions of Chrysler have been doing exceptionally well and FIAT stock is going to benefit from them:

http://www.fool.com/investing/general/2014/04/06/how-the-2014-ram-1500-stepped-up-big-to-beat-chevy.aspx

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Member Avatar foolishmoney (< 20) Submitted: 3/28/2014 11:37:08 PM : Outperform Start Price: $11.68 FIATY Score: -20.59

upswing may continue longer still if new product offerings continue to raise eyebrows (in a positive way - style and features) and yet be competitive price and quality wise at the same time. Go Sergio!

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Member Avatar Raphael1990 (87.27) Submitted: 1/8/2014 4:25:58 PM : Outperform Start Price: $7.91 FIATY Score: +13.97

The thesis here is that Fiat is a misunderstood company.

They now own 100% of Chrysler, but people seem to think they are an uncompetitive auto major like Peugeot/Citroen.

The reality is Chrysler has a 2013 earnings power of 1.8 bln Euro. This result is currently dragged down by the fact that the rest of Fiat is losing about 1 bln Euro. However Fiat can (now that a Chrysler IPO is off the table) plan a global production network which is independent from Italy where conditions for employers are unfavourable (laws/unions). This will reduce costs and improve economies of scale. Their brands are still strong (including Maserati and Ferrari) and Chrysler gives them exposure the economic recovery of the US.
The bottom line is: It doesnt take much. When Fiat breaks even and Chrysler grows a little bit over the next couple of years you have a company that earns more than 2 bln Euro which right now has a market cap of 8.5 bln Euro.

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Member Avatar nightowlal (89.58) Submitted: 4/17/2013 8:16:52 PM : Outperform Start Price: $5.36 FIATY Score: +59.43

FIAT's return to the US a couple of years ago may not have sparked a huge increase in prices for the stock, but with the addition of multiple new models over the coming years, offering economic European motoring, FIAT stands a chance to capitalize on its return to the states.

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Member Avatar zolibork (76.40) Submitted: 12/21/2012 11:08:10 AM : Outperform Start Price: $5.00 FIATY Score: +61.32

Real chance for a 2-4 bagger. Priced very low because Italian based and given general European malaise.

As that difficult situation clears, will gain there + benefit from Chrysler, Jeep ownership in the US + positions in growth markets like Brazil and Poland.

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Member Avatar WilliamCrook2003 (70.97) Submitted: 6/13/2012 12:25:37 AM : Outperform Start Price: $4.38 FIATY Score: +79.49

Well Jim Cramer says do not buy European stocks, well Fiat is European. The thing Jim Cramer forgot to mention though is many great European stocks have plenty of exposure to the USA. For example take Fiat which owns 60% of Chrysler and Dodge which will soon be 100%. Fiat has some great american cars in its range including Jeep, Dodge viper and others. Well if things do improve in the USA then this will only help Fiat and other European companies which have exposure to the USA.

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Member Avatar NAmoney (31.71) Submitted: 1/17/2012 3:57:37 PM : Outperform Start Price: $5.39 FIATY Score: +32.70

The Stock is trading at well below book value, most likely due to uncertainty with the potential European financial situation. That said, FIAT has increased its revenues over the last year and is operating in many other foreign countries(including, now, the US in a substantial capacity). This stock just looks absolutely cheap right now, despite the increased risks associated with it.

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Member Avatar AwesomeOpossum (72.15) Submitted: 10/14/2011 12:40:04 PM : Outperform Start Price: $6.76 FIATY Score: -15.07

The trend is towards fuel efficient vehicles and Fiat is a major player in this field.

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Member Avatar matcort (< 20) Submitted: 5/6/2009 3:20:04 PM : Outperform Start Price: $4.83 FIATY Score: -11.92

It is a strong company, and it will manage to stay afloat as long as it doesn't take too much of Chrysler.

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Member Avatar hatinmyway2datop (20.88) Submitted: 2/26/2009 3:08:22 PM : Underperform Start Price: $2.17 FIATY Score: -196.25

major auto manufacturers

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Member Avatar ragefear (90.49) Submitted: 1/31/2008 1:08:52 PM : Outperform Start Price: $10.40 FIATY Score: -54.39

Fiat has their hand in a lot of areas of the market from compacts to exotics. GM's new small car engine was a joint venture with Fiat and has proven itself worthy

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Member Avatar aaroger (81.26) Submitted: 7/27/2007 10:45:14 AM : Outperform Start Price: $13.10 FIATY Score: -64.65

34

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Member Avatar gdsfgggg (74.92) Submitted: 7/20/2007 8:24:38 AM : Outperform Start Price: $14.49 FIATY Score: -65.88

Good management in Sergio Marchionne. 500 is ready to succeed.

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Member Avatar AntenorIT (< 20) Submitted: 7/7/2007 9:18:57 AM : Outperform Start Price: $14.74 FIATY Score: -68.55

Much advertising around new Cinquecento. Many little investors entering in the short run.

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Member Avatar mdea2 (60.08) Submitted: 6/15/2007 5:22:06 PM : Outperform Start Price: $13.03 FIATY Score: -59.41

This one looks like it's in a stall pattern but may actually be settling. The company itself is doing well and appears to be solid. It's worth a consideration for long term commitment.

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Member Avatar sciencebzzt (28.72) Submitted: 5/14/2007 11:39:14 AM : Outperform Start Price: $12.75 FIATY Score: -60.65

Fiat was one of the first companies I ever invested in. They basically owned all of Italy for a while, and they still have interests in just about every area you can think of, which is a big reason they're one of my favorite companies. Fine supercars like Maserati and Ferrari are just a small part of their business, but they seem to be one of the most visible. Most of their money is made in regular autos (like all the little cars and trucks you see zipping around europe and south america) and big industry (construction, agricultural, commercial trucking). They're involved in machine and software production on some level too, mostly things for the automotive industry.

Fiat is a great company, and they going to keep growing; they're the ones making the cars and the industry machines for the rest of the world.

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Member Avatar NetscribeTransp (73.32) Submitted: 3/27/2007 8:36:28 AM : Outperform Start Price: $11.29 FIATY Score: -57.91

Fiat S.p.A. (Fiat), one of the largest industrial groups in Italy, has been famous world over for its Ferrari and Maserati line of vehicles. It is the parent company, that through its subsidiaries is primarily involved in the business of manufacturing and selling automobiles, commercial vehicles, and agricultural and construction equipments. The company’s operations are segregated in five key business areas: Automobiles; Agricultural and Construction Equipment; Trucks and Commercial Vehicles; Components and Production Systems; and Other Businesses. The Automobiles segment that includes revenues from sale of Fiat Auto, Ferrari, and Fiat Powertrain Technologies generates the major chunk of the inflows, contributing about 45% of the over all revenues.

The company witnessed a healthy performance in 2006, with revenues up 11.3% as a result of strong performance of Fiat Auto, which sold around 2 million cars in the year. Though non recurring expenses resulted in company registering a net loss, excluding those non recurring expenses, Fiat’s bottom line actually registered a profit growth. The company’s ADR has seen a phenomenal upsurge, rising by over 30% since Jan 2007. Moreover looking at the company’s fundamentals and reasonable valuations there can be further room to growth.

Looking ahead in 2007, the sale of newly launched Bravo will be the key driver for the company, as its rapid start is expected to continue for the rest of the year amidst of strong demand. Moreover, the pre schedule launch of the much awaited new version of Fiat 500 will provide fuel to fire, setting the revenue tally much higher. The agriculture equipment segment also appears to present a solid performance, amidst of rising corn prices and strong demand for agriculture products in Europe. Further, considering companies projected increase in production of Ferrari and Fiat 500 cars amidst of strong demand in new markets like China, the Arab Emirates, Mexico and Brazil, will aid the company to deliver a solid 2007, making Fiat a solid investment.

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Member Avatar lewanss (94.87) Submitted: 3/8/2007 10:40:52 AM : Outperform Start Price: $10.60 FIATY Score: -54.86

automobiles

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