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Italian (Borsa Italiana) Market Analysis & Valuation

UpdatedDec 28, 2025
DataAggregated Company Financials
Companies393
  • 7D1.8%
  • 3M6.7%
  • 1Y30.6%
  • YTD29.5%

The market has climbed 1.8% in the last 7 days, lead by the Materials sector with a gain of 109%. As for the past 12 months, the market is up 31%. Looking forward, earnings are forecast to grow by 9.9% annually.

Trending IndustriesSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Dec 2025€1.1t€801.3b€65.4b16.7x16.2x1.3x
Tue, 25 Nov 2025€996.6b€800.1b€65.4b16.4x15.2x1.2x
Thu, 23 Oct 2025€990.9b€799.6b€64.2b17.1x15.4x1.2x
Sat, 20 Sep 2025€989.7b€799.7b€64.2b17.8x15.4x1.2x
Mon, 18 Aug 2025€981.7b€798.9b€64.1b17.2x15.3x1.2x
Wed, 16 Jul 2025€922.6b€806.5b€71.7b16.9x12.9x1.1x
Fri, 13 Jun 2025€921.3b€823.0b€71.8b16.3x12.8x1.1x
Sun, 11 May 2025€909.4b€814.4b€71.8b15.3x12.7x1.1x
Tue, 08 Apr 2025€769.6b€815.3b€71.1b13x10.8x0.9x
Thu, 06 Mar 2025€812.6b€814.5b€67.2b14.1x12.1x1x
Sat, 01 Feb 2025€776.9b€833.2b€75.4b14.2x10.3x0.9x
Mon, 30 Dec 2024€728.5b€821.2b€75.3b14x9.7x0.9x
Wed, 27 Nov 2024€709.1b€831.9b€75.6b13.4x9.4x0.9x
Fri, 25 Oct 2024€733.5b€838.3b€75.4b13.9x9.7x0.9x
Sun, 22 Sep 2024€720.6b€836.8b€75.2b14.3x9.6x0.9x
Tue, 20 Aug 2024€714.8b€848.1b€75.5b14x9.5x0.8x
Thu, 18 Jul 2024€754.7b€854.1b€79.1b14.5x9.5x0.9x
Sat, 15 Jun 2024€732.4b€869.0b€79.8b14x9.2x0.8x
Mon, 13 May 2024€775.2b€863.3b€79.1b14.7x9.8x0.9x
Wed, 10 Apr 2024€770.9b€884.0b€78.9b14.5x9.8x0.9x
Fri, 08 Mar 2024€757.5b€921.2b€80.8b14.1x9.4x0.8x
Sun, 04 Feb 2024€679.8b€920.7b€76.8b15x8.9x0.7x
Tue, 02 Jan 2024€675.5b€921.2b€77.3b15x8.7x0.7x
Thu, 30 Nov 2023€651.4b€923.6b€77.3b14.3x8.4x0.7x
Sat, 28 Oct 2023€604.8b€967.9b€75.0b13.5x8.1x0.6x
Mon, 25 Sep 2023€638.9b€964.5b€73.8b15.1x8.7x0.7x
Wed, 23 Aug 2023€629.9b€962.4b€73.7b15.2x8.5x0.7x
Fri, 21 Jul 2023€638.7b€947.1b€69.5b15.9x9.2x0.7x
Sun, 18 Jun 2023€626.3b€947.9b€77.2b16x8.1x0.7x
Tue, 16 May 2023€621.5b€945.0b€77.5b16.2x8x0.7x
Thu, 13 Apr 2023€630.8b€946.0b€67.0b16.1x9.4x0.7x
Sat, 11 Mar 2023€622.9b€948.4b€57.2b15.1x10.9x0.7x
Mon, 06 Feb 2023€620.6b€917.9b€56.6b16x11x0.7x
Wed, 04 Jan 2023€574.4b€913.9b€51.9b15.8x11.1x0.6x
Price to Earnings Ratio

11.1x


Total Market Cap: €574.4bTotal Earnings: €51.9bTotal Revenue: €913.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Italian Market Price to Earnings3Y Average 10.6x20242025
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 16.2x which is higher than its 3-year average PE of 10.6x.
Past Earnings Growth
  • The earnings for Italian listed companies have grown 8.1% per year over the last three years.
  • Meanwhile revenues for these companies have declined 4.3% 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 Market1.82%
Materials109.34%
Healthcare1.36%
Telecom1.31%
Energy0.53%
Industrials0.52%
Utilities0.17%
Tech0.0096%
Financials-0.30%
Real Estate-0.36%
Consumer Discretionary-1.65%
Consumer Staples-1.91%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 19.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.5%, which is higher than its past year's earnings growth of 7.4% 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 8.5x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 38% 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
CEM Cementir Holding€155.03715.1%
+€21.2b		1,348.9%PE146.1xMaterials
TIT Telecom Italia€0.522.9%
+€314.7m		110.2%PS0.8xTelecom
ENEL Enel€8.770.4%
+€312.3m		28.1%PE14.4xUtilities
G Assicurazioni Generali€35.880.4%
+€227.8m		31.5%PE14.1xFinancials
PRY Prysmian€85.940.8%
+€206.4m		38.3%PE21.3xIndustrials
See more

Market Insights

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CPR
€5.47
Davide Campari-Milano
7D
-3.6%
1Y
-9.7%

CPR Q3 Margin Strength Will Support Higher Profitability Expectations Ahead

The analyst price target for Davide Campari-Milano has edged higher by approximately EUR 0.25, as analysts cite a strong Q3 EBIT beat, resilient gross margins, and improving profitability expectations despite only modest adjustments to growth and discount rate assumptions. Analyst Commentary Bullish analysts have highlighted the recent Q3 EBIT beat and strong gross margin performance as key drivers behind a series of upward price target revisions for Davide Campari-Milano, reinforcing confidence in the company’s execution and earnings trajectory.
PRY
€85.94
Prysmian
7D
0.8%
1Y
38.3%

PRY: Energy Transition Demand Will Support Higher Long Term Earnings Multiples

Prysmian's analyst fair value estimate has been nudged higher to EUR 105 from EUR 102, as analysts balance slightly lower price targets and valuation concerns with upgraded long term growth expectations and a modestly richer earnings multiple outlook. Analyst Commentary Recent Street research on Prysmian reflects a more nuanced stance, with modestly reduced price targets offset by continued confidence in the company’s long term growth profile and execution capabilities.
CEM
€155.03
Cementir Holding
7D
715.1%
1Y
1,348.9%

Investors Appear Satisfied With Cementir Holding N.V.'s (BIT:CEM) Prospects As Shares Rocket 848%

Dec 25
Investors Appear Satisfied With Cementir Holding N.V.'s (BIT:CEM) Prospects As Shares Rocket 848%
MONC
€55.92
Moncler
7D
-1.1%
1Y
9.8%

Moncler (BIT:MONC) Is Aiming To Keep Up Its Impressive Returns

Dec 24
Moncler (BIT:MONC) Is Aiming To Keep Up Its Impressive Returns
ENEL
€8.77
Enel
7D
0.4%
1Y
28.1%

Enel (BIT:ENEL) Is Due To Pay A Dividend Of €0.23

Dec 24
Enel (BIT:ENEL) Is Due To Pay A Dividend Of €0.23
LDO
€49.45
Leonardo
7D
0.5%
1Y
90.9%
ISP
€5.87
Intesa Sanpaolo
7D
-0.7%
1Y
51.9%
BMPS
€8.88
Banca Monte dei Paschi di Siena
7D
-0.7%
1Y
33.4%

BMPS: Index Inclusions Are Expected To Drive Stronger Future Share Performance

Analysts have raised their price target on Banca Monte dei Paschi di Siena from €10.50 to €11.00, citing sharply stronger projected revenue growth, slightly higher profit margins, a lower discount rate, and a materially cheaper expected future P/E multiple. What's in the News Banca Monte dei Paschi di Siena has been added to the S&P EUROPE 350, expanding its visibility among major European equities (Key Developments).
STLAM
€9.41
Stellantis
7D
-5.0%
1Y
-25.3%
ENI
€15.96
Eni
7D
0.4%
1Y
23.2%
TIT
€0.52
Telecom Italia
7D
2.9%
1Y
110.2%

Telecom Italia S.p.A.'s (BIT:TIT) Price In Tune With Revenues

Dec 19
Telecom Italia S.p.A.'s (BIT:TIT) Price In Tune With Revenues
UCG
€69.94
UniCredit
7D
-0.7%
1Y
82.4%

UCG: Earnings Guidance And Capital Returns Will Support Further Upside Potential

Analysts have lifted their price target on UniCredit by approximately EUR 4 to EUR 84.30, citing slightly stronger expected revenue growth, improved profit margins and a modestly lower discount rate that together support a higher fair value multiple. Analyst Commentary Bullish analysts continue to see upside in UniCredit's equity story, with recent target price revisions reflecting confidence in the bank's ability to sustain earnings growth and capital returns.
G
€35.88
Assicurazioni Generali
7D
0.4%
1Y
31.5%

G: Potential RedClick Sale And Reporting Visibility Will Shape Measured Future Upside

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FCT
€16.84
Fincantieri
7D
2.6%
1Y
144.8%
BZU
€52.00
Buzzi
7D
-1.3%
1Y
44.7%

BZU: Energy Transition Costs Will Shape Returns Amid Stabilizing Construction Cycle

The analyst price target for Buzzi has been modestly raised, with fair value moving from about EUR 51.26 to EUR 52.57. Analysts are factoring in slightly stronger revenue growth expectations and a higher future earnings multiple, partly offset by a marginally lower profit margin and a steadying of sentiment reflected in recent rating changes.
RACE
€319.90
Ferrari
7D
-0.9%
1Y
-22.9%

RACE: Future Capital Returns Will Drive Attractive Shareholder Upside Potential

Analysts have trimmed their price target on Ferrari to approximately $466 per share, down from about $545. They cited slightly lower expectations for revenue growth, profit margins, and future valuation multiples that still support a premium but a less aggressive long term outlook.