Narrative Update • May 19
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Italian (Borsa Italiana) Market Analysis & Valuation
UpdatedMay 21, 2026
DataAggregated Company Financials
Companies387
- 7D-0.3%
- 3M4.0%
- 1Y16.8%
- YTD5.4%
Over the last 7 days, the market has dropped 1.2%, driven by a decline of 2.8% in the Financials sector. In contrast, the Information Technology sector has actually gained 29%. As for the longer term, the market has actually risen by 15% in the last year. Looking forward, earnings are forecast to grow by 11% annually.
Market Valuation and Performance
Has the Italian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 21 May 2026 | €1.1t | €817.6b | €43.5b | 17.5x | 25.3x | 1.3x |
| Sat, 18 Apr 2026 | €1.1t | €809.9b | €42.7b | 16.3x | 26x | 1.4x |
| Mon, 16 Mar 2026 | €1.0t | €809.3b | €45.1b | 16x | 22.6x | 1.3x |
| Wed, 11 Feb 2026 | €1.1t | €800.4b | €66.1b | 17.8x | 16.4x | 1.4x |
| Fri, 09 Jan 2026 | €1.1t | €800.9b | €65.4b | 17x | 16.3x | 1.3x |
| Sun, 07 Dec 2025 | €1.0t | €801.0b | €65.5b | 16.4x | 15.5x | 1.3x |
| Tue, 04 Nov 2025 | €1.0t | €800.0b | €65.1b | 16.9x | 15.6x | 1.3x |
| Thu, 02 Oct 2025 | €1.0t | €799.2b | €64.2b | 17.2x | 15.6x | 1.3x |
| Sat, 30 Aug 2025 | €976.1b | €798.8b | €64.1b | 17.6x | 15.2x | 1.2x |
| Mon, 28 Jul 2025 | €943.4b | €803.8b | €72.4b | 17.1x | 13x | 1.2x |
| Wed, 25 Jun 2025 | €908.4b | €823.4b | €71.7b | 16.1x | 12.7x | 1.1x |
| Fri, 23 May 2025 | €928.1b | €821.9b | €71.8b | 15.6x | 12.9x | 1.1x |
| Sun, 20 Apr 2025 | €836.5b | €813.4b | €71.0b | 14.2x | 11.8x | 1x |
| Tue, 18 Mar 2025 | €901.6b | €813.9b | €71.1b | 14.3x | 12.7x | 1.1x |
| Thu, 13 Feb 2025 | €789.9b | €834.8b | €74.2b | 14x | 10.6x | 0.9x |
| Sat, 11 Jan 2025 | €744.8b | €821.4b | €75.4b | 14.1x | 9.9x | 0.9x |
| Mon, 09 Dec 2024 | €735.9b | €832.4b | €75.9b | 13.9x | 9.7x | 0.9x |
| Wed, 06 Nov 2024 | €730.6b | €836.8b | €74.4b | 13.8x | 9.8x | 0.9x |
| Fri, 04 Oct 2024 | €709.9b | €836.7b | €75.2b | 14x | 9.4x | 0.8x |
| Sun, 01 Sep 2024 | €733.8b | €848.2b | €75.5b | 14.1x | 9.7x | 0.9x |
| Tue, 30 Jul 2024 | €742.3b | €843.7b | €75.6b | 14.3x | 9.8x | 0.9x |
| Thu, 27 Jun 2024 | €748.3b | €868.7b | €79.8b | 14.1x | 9.4x | 0.9x |
| Sat, 25 May 2024 | €774.9b | €868.9b | €79.7b | 14.6x | 9.7x | 0.9x |
| Mon, 22 Apr 2024 | €766.8b | €887.7b | €79.1b | 14.3x | 9.7x | 0.9x |
| Wed, 20 Mar 2024 | €776.0b | €893.6b | €79.4b | 14x | 9.8x | 0.9x |
| Fri, 16 Feb 2024 | €689.9b | €922.4b | €80.3b | 14.1x | 8.6x | 0.7x |
| Sun, 14 Jan 2024 | €677.7b | €921.6b | €77.4b | 14.9x | 8.8x | 0.7x |
| Tue, 12 Dec 2023 | €665.0b | €923.6b | €77.3b | 14.3x | 8.6x | 0.7x |
| Thu, 09 Nov 2023 | €629.9b | €948.7b | €72.3b | 13.8x | 8.7x | 0.7x |
| Sat, 07 Oct 2023 | €616.0b | €966.4b | €74.1b | 14.4x | 8.3x | 0.6x |
| Mon, 04 Sep 2023 | €642.6b | €962.6b | €73.7b | 15.8x | 8.7x | 0.7x |
| Wed, 02 Aug 2023 | €648.9b | €942.0b | €70.8b | 15.6x | 9.2x | 0.7x |
| Fri, 30 Jun 2023 | €620.7b | €948.0b | €77.2b | 15.9x | 8x | 0.7x |
| Sun, 28 May 2023 | €607.0b | €946.8b | €77.2b | 16.1x | 7.9x | 0.6x |
Price to Earnings Ratio
7.9x
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 24.9x which is higher than its 3-year average PE of 12.0x.
Past Earnings Growth
- The earnings for companies in the Italian industry have declined 17% per year over the last three years.
- Revenues have also declined 4.8% 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 | -1.17% | |
| Tech | 29.36% | |
| Healthcare | 1.66% | |
| Consumer Staples | 0.54% | |
| Real Estate | 0.52% | |
| Consumer Discretionary | 0.15% | |
| Energy | -0.017% | |
| Telecom | -0.43% | |
| Industrials | -1.60% | |
| Utilities | -1.83% | |
| Financials | -2.79% | |
| Materials | -6.30% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 36.9x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 35.2%, which is higher than its past year's earnings growth of 10.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 35% over the next 5 years.
- This is better than its past earnings growth rate of 11% per year.
- In contrast, the Materials sector is expected to see its earnings grow by 6.1% per year 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 | |
|---|---|---|---|---|---|---|
| TPRO Technoprobe | €29.38 | 54.7% +€6.7b | 315.6% | PE192.6x | Tech | |
| UCG UniCredit | €72.27 | 1.6% +€1.7b | 24.9% | PB1.6x | Financials | |
| LDO Leonardo | €52.16 | 4.7% +€1.3b | 0.8% | PE23.3x | Industrials | |
| RACE Ferrari | €290.25 | 2.5% +€1.3b | -34.5% | PE32x | Consumer Discretionary | |
| PST Poste Italiane | €24.78 | 3.2% +€996.5m | 32.2% | PE13.2x | Financials |
