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Italian (Borsa Italiana) Market Analysis & Valuation

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies392
  • 7D0.8%
  • 3M4.2%
  • 1Y22.9%
  • YTD3.2%

Over the last 7 days, the market has risen 1.5%, driven by gains of 2.5% in the Financials sector. Meanwhile, the Consumer Discretionary sector has underperformed, shrinking 4.9% in that time. The market is up 24% over the last 12 months. As for the next few years, earnings are expected to grow by 9.0% per annum.

Trending IndustriesSoftwareRenewable Energy

Market Valuation and Performance

Has the Italian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026€1.1t€800.4b€66.1b17.8x16.4x1.4x
Fri, 09 Jan 2026€1.1t€800.9b€65.4b17x16.3x1.3x
Sun, 07 Dec 2025€1.0t€801.0b€65.5b16.4x15.5x1.3x
Tue, 04 Nov 2025€1.0t€800.0b€65.1b16.9x15.6x1.3x
Thu, 02 Oct 2025€1.0t€799.2b€64.2b17.2x15.6x1.3x
Sat, 30 Aug 2025€976.1b€798.8b€64.1b17.6x15.2x1.2x
Mon, 28 Jul 2025€943.4b€803.8b€72.4b17.1x13x1.2x
Wed, 25 Jun 2025€908.4b€823.4b€71.7b16.1x12.7x1.1x
Fri, 23 May 2025€928.1b€821.9b€71.8b15.6x12.9x1.1x
Sun, 20 Apr 2025€836.5b€813.4b€71.0b14.2x11.8x1x
Tue, 18 Mar 2025€901.6b€813.9b€71.1b14.3x12.7x1.1x
Thu, 13 Feb 2025€789.9b€834.8b€74.2b14x10.6x0.9x
Sat, 11 Jan 2025€744.8b€821.4b€75.4b14.1x9.9x0.9x
Mon, 09 Dec 2024€735.9b€832.4b€75.9b13.9x9.7x0.9x
Wed, 06 Nov 2024€730.6b€836.8b€74.4b13.8x9.8x0.9x
Fri, 04 Oct 2024€709.9b€836.7b€75.2b14x9.4x0.8x
Sun, 01 Sep 2024€733.8b€848.2b€75.5b14.1x9.7x0.9x
Tue, 30 Jul 2024€742.3b€843.7b€75.6b14.3x9.8x0.9x
Thu, 27 Jun 2024€748.3b€868.7b€79.8b14.1x9.4x0.9x
Sat, 25 May 2024€774.9b€868.9b€79.7b14.6x9.7x0.9x
Mon, 22 Apr 2024€766.8b€887.7b€79.1b14.3x9.7x0.9x
Wed, 20 Mar 2024€776.0b€893.6b€79.4b14x9.8x0.9x
Fri, 16 Feb 2024€689.9b€922.4b€80.3b14.1x8.6x0.7x
Sun, 14 Jan 2024€677.7b€921.6b€77.4b14.9x8.8x0.7x
Tue, 12 Dec 2023€665.0b€923.6b€77.3b14.3x8.6x0.7x
Thu, 09 Nov 2023€629.9b€948.7b€72.3b13.8x8.7x0.7x
Sat, 07 Oct 2023€616.0b€966.4b€74.1b14.4x8.3x0.6x
Mon, 04 Sep 2023€642.6b€962.6b€73.7b15.8x8.7x0.7x
Wed, 02 Aug 2023€648.9b€942.0b€70.8b15.6x9.2x0.7x
Fri, 30 Jun 2023€620.7b€948.0b€77.2b15.9x8x0.7x
Sun, 28 May 2023€607.0b€946.8b€77.2b16.1x7.9x0.6x
Tue, 25 Apr 2023€629.3b€950.9b€74.6b16.2x8.4x0.7x
Thu, 23 Mar 2023€593.6b€933.6b€65.7b15.9x9x0.6x
Sat, 18 Feb 2023€635.9b€922.0b€57.7b16.3x11x0.7x
Price to Earnings Ratio

11x


Total Market Cap: €635.9bTotal Earnings: €57.7bTotal Revenue: €922.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Italian Market Price to Earnings3Y Average 10.8x202420252026
Current Market PE
  • Investors are optimistic on the Italian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 16.5x which is higher than its 3-year average PE of 10.8x.
Past Earnings Growth
  • The earnings for Italian listed companies have grown 4.6% per year over the last three years.
  • Meanwhile revenues for these companies have declined 4.6% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits are increasing.

Sector Trends

Which sectors have driven the changes within the Italian Market?

IT Market0.84%
Telecom5.86%
Consumer Staples4.12%
Energy3.09%
Real Estate2.17%
Utilities2.01%
Materials1.95%
Healthcare0.88%
Consumer Discretionary0.86%
Tech0.65%
Financials-0.099%
Industrials-0.46%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 23.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.9%, which is higher than its past year's earnings growth of 6.3% per year.
  • The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 8.6x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 37% over the next 5 years.
  • This is better than its past earnings decline of 60% per year.
  • In contrast, the Utilities sector is expected to see its earnings grow by 3.4% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
RACE Ferrari€310.309.9%
+€4.9b		-32.4%PE34.3xConsumer Discretionary
ENI Eni€17.943.6%
+€1.9b		27.6%PE20.8xEnergy
ENEL Enel€9.591.9%
+€1.8b		39.5%PE15.7xUtilities
MB Mediobanca Banca di Credito Finanziario€18.955.9%
+€853.9m		11.5%PB1.4xFinancials
TRN Terna€9.554.3%
+€786.6m		22.2%PE17.8xUtilities
See more

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Latest News

RACE
€310.30
Ferrari
7D
9.9%
1Y
-32.4%
FBK
€22.11
FinecoBank Banca Fineco
7D
-2.9%
1Y
22.8%
BAMI
€12.66
Banco BPM
7D
-2.7%
1Y
42.0%

BAMI: Fair Outlook Will Reflect Higher Earnings Assumptions And Cautious Rating Shift

Analysts have increased their fair value estimate for Banco BPM by €0.20 to €13.58, reflecting updated assumptions on revenue growth, discount rate and future P/E that are broadly consistent with recent price target revisions reported in Street research. Analyst Commentary Bullish Takeaways Bullish analysts are comfortable lifting fair value and price targets, which supports the idea that the current valuation can be justified by their updated assumptions on earnings and P/E.
STLAM
€6.35
Stellantis
7D
-24.2%
1Y
-49.8%
ENI
€17.94
Eni
7D
3.6%
1Y
27.6%

ENI: 2026 Plan And Reserve Distributions Will Support A Balanced Outlook

Analysts have nudged their price target on Eni slightly higher to €16.70 from €16.64, citing updated assumptions on the discount rate, revenue growth and future P/E that modestly adjust their view of the stock's risk and earnings profile. What's in the News A board meeting is scheduled for February 25, 2026 to review preliminary financial statements as at December 31, 2025 and to decide on distribution of reserves in place of the 2025 dividend (Key Developments).
BMPS
€8.78
Banca Monte dei Paschi di Siena
7D
-1.8%
1Y
37.1%

BMPS: Governance Reforms And Stronger Earnings Quality Will Support Future Upside

Analysts have lifted their price target for Banca Monte dei Paschi di Siena from €11.0 to €11.6, citing updated assumptions that reflect a slightly lower discount rate, adjusted revenue growth expectations, a marginally higher profit margin and a revised forward P/E multiple. What's in the News A special shareholders meeting is scheduled for Feb 04, 2026 in Siena to vote on amendments to the By-Laws, including changes to director reappointment rules, board replacement procedures, and variable versus fixed remuneration limits (Key Developments).
INW
€8.23
Infrastrutture Wireless Italiane
7D
11.2%
1Y
-15.6%

INW: 2026 Board Calendar Will Underpin Confidence In Upside Potential

Analysts have kept their price target for Infrastrutture Wireless Italiane broadly steady around €10.46 per share. Small tweaks to assumptions, such as a slightly lower discount rate and modestly adjusted forward P/E, have helped to refine the valuation rather than shift it.
ISP
€6.05
Intesa Sanpaolo
7D
-0.4%
1Y
36.8%
UCG
€76.55
UniCredit
7D
-0.2%
1Y
63.3%
BMED
€19.65
Banca Mediolanum
7D
-2.8%
1Y
44.7%
ENEL
€9.59
Enel
7D
1.9%
1Y
39.5%

ENEL: Guidance Upgrade And Mixed Ratings Will Shape Medium Term Expectations

Analysts have nudged their fair value estimate for Enel higher to €9.37 from €9.25, reflecting updated assumptions on discount rates, profit margins and future P/E, as well as recent Street research that includes a higher price target from one firm and a Neutral stance with a €9.50 target from another. Analyst Commentary Recent Street research on Enel gives you a mixed but useful read on how analysts are thinking about valuation, execution risk and growth visibility around the current share price and the refreshed fair value estimate.
TRN
€9.55
Terna
7D
4.3%
1Y
22.2%
TIT
€0.62
Telecom Italia
7D
5.2%
1Y
102.0%

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MB
€18.95
Mediobanca Banca di Credito Finanziario
7D
5.9%
1Y
11.5%

MB: Future Upside Will Depend On Steady Earnings And Risk Profile

Analysts have nudged their price target for Mediobanca Banca di Credito Finanziario slightly higher to €19.53 from €19.53, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E, without any new published Street research driving the change. Valuation Changes Fair Value: The model price estimate is essentially unchanged, moving from €19.525 to €19.53 per share.
MONC
€50.78
Moncler
7D
5.5%
1Y
-18.5%

MONC: Premium Earnings Profile Will Support Upside Despite Softer Street Pricing

Analysts have made a small upward adjustment to their fair value estimate for Moncler to about €59.18 per share, despite a recent cut in a prominent Street price target to €51. This reflects updated assumptions on the discount rate, revenue growth, profit margin and future P/E.
LDO
€53.56
Leonardo
7D
-5.0%
1Y
78.8%