Italian (Borsa Italiana) Market Analysis & Valuation

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 23 Aug 2026	€1.2t	€840.3b	€50.2b	17.4x	23.7x	1.4x
Tue, 21 Jul 2026	€1.2t	€818.5b	€43.4b	17.7x	26.7x	1.4x
Thu, 18 Jun 2026	€1.2t	€817.3b	€43.3b	16.8x	26.9x	1.4x
Sat, 16 May 2026	€1.1t	€814.7b	€43.9b	17.5x	25x	1.3x
Mon, 13 Apr 2026	€1.1t	€809.7b	€43.0b	16x	25.3x	1.3x
Wed, 11 Mar 2026	€1.0t	€807.4b	€44.0b	16.1x	23.7x	1.3x
Fri, 06 Feb 2026	€1.1t	€799.4b	€65.5b	17.3x	16.3x	1.3x
Sun, 04 Jan 2026	€1.1t	€800.8b	€65.4b	16.9x	16.1x	1.3x
Tue, 02 Dec 2025	€1.0t	€801.1b	€65.5b	16.4x	15.5x	1.3x
Thu, 30 Oct 2025	€1.0t	€799.6b	€64.7b	17.1x	15.7x	1.3x
Sat, 27 Sep 2025	€993.2b	€800.0b	€64.2b	17.9x	15.5x	1.2x
Mon, 25 Aug 2025	€996.7b	€798.7b	€64.1b	17.8x	15.6x	1.2x
Wed, 23 Jul 2025	€927.5b	€806.5b	€71.7b	16.9x	12.9x	1.2x
Fri, 20 Jun 2025	€899.4b	€823.3b	€71.8b	15.9x	12.5x	1.1x
Sun, 18 May 2025	€935.5b	€821.5b	€71.8b	15.8x	13x	1.1x
Tue, 15 Apr 2025	€816.0b	€814.6b	€71.0b	14.1x	11.5x	1x
Thu, 13 Mar 2025	€810.8b	€813.8b	€67.8b	13.9x	11.9x	1x
Sat, 08 Feb 2025	€783.7b	€834.6b	€74.4b	14x	10.5x	0.9x
Mon, 06 Jan 2025	€729.7b	€821.3b	€75.4b	14.2x	9.7x	0.9x
Wed, 04 Dec 2024	€718.7b	€832.0b	€75.9b	13.5x	9.5x	0.9x
Fri, 01 Nov 2024	€726.9b	€836.0b	€74.4b	13.8x	9.8x	0.9x
Sun, 29 Sep 2024	€739.0b	€836.8b	€75.1b	14.3x	9.8x	0.9x
Tue, 27 Aug 2024	€720.4b	€848.0b	€75.5b	14.2x	9.5x	0.8x
Thu, 25 Jul 2024	€756.3b	€854.0b	€79.1b	14.5x	9.6x	0.9x
Sat, 22 Jun 2024	€746.4b	€868.7b	€79.9b	14.2x	9.3x	0.9x
Mon, 20 May 2024	€787.7b	€860.9b	€79.0b	15x	10x	0.9x
Wed, 17 Apr 2024	€770.1b	€979.0b	€83.9b	14.4x	9.2x	0.8x
Fri, 15 Mar 2024	€765.5b	€898.0b	€79.3b	13.8x	9.7x	0.9x
Sun, 11 Feb 2024	€677.7b	€922.9b	€80.2b	14.1x	8.5x	0.7x
Tue, 09 Jan 2024	€679.7b	€921.5b	€77.4b	14.8x	8.8x	0.7x
Thu, 07 Dec 2023	€663.4b	€923.5b	€77.3b	14.3x	8.6x	0.7x
Sat, 04 Nov 2023	€636.3b	€947.7b	€71.2b	14x	8.9x	0.7x
Mon, 02 Oct 2023	€628.6b	€965.1b	€73.8b	14.7x	8.5x	0.7x
Wed, 30 Aug 2023	€645.4b	€962.4b	€73.7b	15.6x	8.8x	0.7x

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 23.7x which is higher than its 3-year average PE of 13.5x.

Past Earnings Growth

The earnings for companies in the Italian industry have declined 12% per year over the last three years.
Revenues have also declined 4.4% per year.
This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Italian Market?


IT Market	-1.55%
Consumer Discretionary	1.45%
Energy	0.33%
Utilities	-0.059%
Healthcare	-0.80%
Telecom	-0.82%
Real Estate	-0.99%
Consumer Staples	-2.07%
Financials	-2.42%
Materials	-2.88%
Industrials	-3.41%
Tech	-7.72%

Sector PE

Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 39.7x.

The market's confidence is likely because analysts are expecting annual earnings growth of 35.6%, which is higher than its past year's earnings growth of 14.7% per year.

Forecasted Growth

Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 36% over the next 5 years.
This is better than its past earnings growth rate of 15% per year.

In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation	Sector
RACE Ferrari	€371.10	4.0% +€2.8b	-8.2%	PE43.7x	Consumer Discretionary
ENI Eni	€24.14	1.9% +€1.3b	58.5%	PE12.2x	Energy
IG Italgas	€8.73	1.6% +€136.2m	13.4%	PE12.3x	Utilities
TRN Terna	€9.82	0.7% +€128.4m	13.3%	PE18.5x	Utilities
ENEL Enel	€9.50	0.08% +€79.4m	17.1%	PE22.2x	Utilities

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion.

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion on August 20, 2026. Under the terms of the acquisition, Banca Monte dei Paschi di Siena S.p.A. will acquire all of the ordinary shares of Banco BPM S.p.A. through a voluntary full public exchange offer. The exchange ratio has been set at 1.567 newly issued shares of Banca Monte dei Paschi di Siena S.p.A. for each existing share of Banco BPM. In a related transaction, Banca Monte dei Paschi di Siena S.p.A. proposed to acquire Banca Generali S.p.A. On full acceptance of both offers, and taking into account the effects of the merger of Mediobanca anca di Credito Finanziario S.p.A. in Banca Monte dei Paschi di Siena , the current Banca Monte dei Paschi di Siena shareholders would hold approximately 50.1% of the combined group, Banco BPM shareholders approximately 37.2% and Banca Generali shareholders approximately 12.7%. Fondazione Cassa di Risparmio di Lucca, Fondazione Cassa di Risparmio di Alessandria, Fondazione ENPAM, Fondazione Cassa di Risparmio di Carpi, Fondazione Cassa di Risparmio di Reggio Emilia Pietro Manodori, Inarcassa – Cassa Nazionale di Previdenza ed Assistenza per ingegneri e architetti liberi professionisti and Cassa Nazionale di Previdenzae Assistenza forense, which together hold approximately 89.95 million shares of Banco BPM S.p.A., representing 5.93% of Banco BPM S.p.A.'s share capital have supported the acquisition. In any event on closing of the offer, if Banca Monte dei Paschi di Siena S.p.A. achieves at least 90% of the Banco BPM S.p.A.'s share capital, Banca Monte dei Paschi di Siena S.p.A. intends to achieve the delisting of the Banco BPM S.p.A. Shares from Euronext Milan. The transaction is subject to approval by the shareholders of Banca Monte dei Paschi di Siena S.p.A., approval by Commissione Nazionale per le Società e la Borsa (CONSOB) and obtaining a minimum acceptance of 50% of the Banco BPM S.p.A.'s share capital plus one share. The deal has been approved by the board of directors of Banca Monte dei Paschi di Siena S.p.A. The transaction is expected to close by mid-February 2027. The combined Offers are expected to generate around 11% accretion in 2028 EPS taking into account the full realisation of expected synergies. UBS Europe SE, Italian Branch acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. BofA Securities Europe SA acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Vitale&Co. S.P.A. acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Keefe, Bruyette & Woods, Inc. acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Bonelli Erede Pappalardo Studio Legale acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. White & Case LLP acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. Clifford Chance Studio Legale Associato acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. PricewaterhouseCoopers SpA acted as fairness opinion provider to Banca Monte dei Paschi di Siena S.p.A.

Italian (Borsa Italiana) Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

Why friction decides which payment stocks collect the fee

Latest News

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion.

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banca Generali S.p.A. (BIT:BGN) from Assicurazioni Generali S.p.A. (BIT:G) and others for €9.3 billion.

Jeep Unveils 2027 Wrangler Smoky Mountain Special Edition

Enel Begins Construction on 100MW Grid-Forming Battery Project at Chile Solar Site

ENI: Offshore Expansion And LNG Commitments Will Eventually Constrain Equity Upside

TPRO: AI And Memory Demand Will Underpin Leadership In Advanced Test

UCG: Fair Value View Will Weigh Commerzbank Bid And 2026 Profit Guidance

Ferrari Electric Car Auction Sets Record With $40 Million Charity Sale

PRY: U.S. Fiber Expansion And Data Center Demand Will Support Premium Rating

MB: Recent Upgrade Will Contrast With Cautious View On Future Returns

New major risk - Financial position

Non-Executive Chairman exercised options to buy €10m worth of stock.

Results: Leonardo S.p.a. Exceeded Expectations And The Consensus Has Updated Its Estimates

ISP: Record Earnings And 2026 Guidance Will Test New P/E Framework

New minor risk - Dividend sustainability

Less than half of directors are independent