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Credito Emiliano

LSE:0K93
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0K93
LSE
€2B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Credito Emiliano S.p.A., together with its subsidiaries, provides various banking services to retail and corporate customers primarily in Italy. The last earnings update was 14 days ago. More info.


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0K93 Share Price and Events
7 Day Returns
-2.8%
LSE:0K93
0%
GB Banks
1.5%
GB Market
1 Year Returns
-29.6%
LSE:0K93
-9.9%
GB Banks
2.1%
GB Market
0K93 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Credito Emiliano (0K93) -2.8% 1.5% 1.7% -29.6% -20.5% -29.2%
GB Banks 0% 7.6% 6.2% -9.9% 15.3% -12.2%
GB Market 1.5% 5.2% 9.7% 2.1% 17.8% 6.8%
1 Year Return vs Industry and Market
  • 0K93 underperformed the Banks industry which returned -9.9% over the past year.
  • 0K93 underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.1% over the past year.
Price Volatility
0K93
Industry
5yr Volatility vs Market

0K93 Value

 Is Credito Emiliano undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Credito Emiliano to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Credito Emiliano.

LSE:0K93 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= €8.36 * 6.4%
€0.53
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. €8.36
Discount Rate (Cost of Equity) See below 19.3%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0K93
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 9%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 24%) (526.48%))
2.324
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 9.02%)
19.27%

Discounted Cash Flow Calculation for LSE:0K93 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Credito Emiliano is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0K93 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.4% – 19.27%) * €8.36)
€-1.08
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-1.08 / (19.27% - 1.23%)
€-5.96
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €8.36 + €-5.96
€2.4
LSE:0K93 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0K93 represents 1.00889x of BIT:CE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00889x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 2.40 x 1.00889
€2.42
Value per share (EUR) From above. €2.42
Current discount Discount to share price of €5.11
= -1 x (€5.11 - €2.42) / €2.42
-111.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Credito Emiliano is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Credito Emiliano's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Credito Emiliano's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0K93 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.56
BIT:CE Share Price ** BIT (2019-04-24) in EUR €5.06
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.28x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Credito Emiliano.

LSE:0K93 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:CE Share Price ÷ EPS (both in EUR)

= 5.06 ÷ 0.56

8.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credito Emiliano is good value based on earnings compared to the GB Banks industry average.
  • Credito Emiliano is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Credito Emiliano's expected growth come at a high price?
Raw Data
LSE:0K93 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-1.9%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.85x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

LSE:0K93 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.98x ÷ -1.9%

-4.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credito Emiliano earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Credito Emiliano's assets?
Raw Data
LSE:0K93 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €7.77
BIT:CE Share Price * BIT (2019-04-24) in EUR €5.06
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.52x
LSE:0K93 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:CE Share Price ÷ Book Value per Share (both in EUR)

= 5.06 ÷ 7.77

0.65x

* Primary Listing of Credito Emiliano.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credito Emiliano is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Credito Emiliano's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Credito Emiliano has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

0K93 Future Performance

 How is Credito Emiliano expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-1.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Credito Emiliano expected to grow at an attractive rate?
  • Credito Emiliano's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Credito Emiliano's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Credito Emiliano's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0K93 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0K93 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -1.9%
LSE:0K93 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.5%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0K93 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0K93 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,217 175 4
2020-12-31 1,196 168 4
2019-12-31 1,172 161 4
LSE:0K93 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,061 130 187
2018-09-30 1,059 191
2018-06-30 1,039 -1,909 180
2018-03-31 1,053 192
2017-12-31 1,028 -1,889 186
2017-09-30 1,051 175
2017-06-30 1,041 -709 163
2017-03-31 1,009 134
2016-12-31 1,002 -2,580 132
2016-09-30 963 119
2016-06-30 947 -2,879 117
2016-03-31 924 129

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Credito Emiliano's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Credito Emiliano's revenue is expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0K93 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Credito Emiliano Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0K93 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.53 0.56 0.47 4.00
2020-12-31 0.53 0.63 0.47 6.00
2019-12-31 0.50 0.58 0.45 6.00
LSE:0K93 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.56
2018-09-30
2018-06-30 0.54
2018-03-31
2017-12-31 0.56
2017-09-30
2017-06-30 0.50
2017-03-31
2016-12-31 0.40
2016-09-30
2016-06-30 0.35
2016-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Credito Emiliano is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Credito Emiliano's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Credito Emiliano has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

0K93 Past Performance

  How has Credito Emiliano performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Credito Emiliano's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Credito Emiliano's year on year earnings growth rate has been positive over the past 5 years.
  • Credito Emiliano's 1-year earnings growth is less than its 5-year average (0.1% vs 6.1%)
  • Credito Emiliano's earnings growth has not exceeded the GB Banks industry average in the past year (0.1% vs 42.2%).
Earnings and Revenue History
Credito Emiliano's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Credito Emiliano Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0K93 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,061.41 186.66 775.21
2018-09-30 1,059.04 190.96 770.45
2018-06-30 1,038.80 180.26 760.83
2018-03-31 1,052.89 192.05 756.44
2017-12-31 1,027.73 186.50 749.04
2017-09-30 1,051.41 175.33 776.88
2017-06-30 1,040.78 162.80 769.45
2017-03-31 1,008.68 134.36 773.12
2016-12-31 1,001.93 131.95 764.56
2016-09-30 962.99 119.01 762.49
2016-06-30 946.66 117.24 749.73
2016-03-31 924.12 128.76 735.62
2015-12-31 982.66 166.17 724.20
2015-09-30 969.00 173.58 699.93
2015-06-30 959.34 172.17 685.16
2015-03-31 973.23 178.79 683.03
2014-12-31 912.99 151.77 671.52
2014-09-30 850.41 144.09 673.29
2014-06-30 879.89 143.80 648.09
2014-03-31 824.82 130.42 644.48
2013-12-31 815.70 115.85 629.57
2013-09-30 869.12 131.30 634.31
2013-06-30 940.13 125.98 630.56
2013-03-31 954.36 122.07 627.82
2012-12-31 938.79 121.24 621.01
2012-09-30 925.94 101.34 634.19
2012-06-30 841.92 109.09 619.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Credito Emiliano has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Credito Emiliano used its assets less efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Credito Emiliano improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Credito Emiliano's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Credito Emiliano has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

0K93 Health

 How is Credito Emiliano's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Credito Emiliano's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Credito Emiliano Company Filings, last reported 3 months ago.

LSE:0K93 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,572.92 8,825.43 504.72
2018-09-30 2,539.15 7,993.22 422.34
2018-06-30 2,503.63 9,436.21 499.61
2018-03-31 2,595.24 8,952.64 363.32
2017-12-31 2,651.16 8,920.99 541.33
2017-09-30 2,580.60 8,111.25 432.95
2017-06-30 2,523.87 8,617.27 761.99
2017-03-31 2,436.30 8,527.78 446.44
2016-12-31 2,474.09 9,527.30 621.09
2016-09-30 2,466.04 6,872.58 600.15
2016-06-30 2,420.42 9,487.24 785.22
2016-03-31 2,445.71 7,809.15 561.03
2015-12-31 2,479.71 10,885.11 969.96
2015-09-30 2,421.07 9,783.56 431.38
2015-06-30 2,375.55 10,273.20 595.82
2015-03-31 2,399.53 9,701.93 540.31
2014-12-31 2,376.50 11,075.23 1,015.44
2014-09-30 2,350.64 9,084.34 548.94
2014-06-30 2,303.91 11,304.09 922.13
2014-03-31 2,220.75 8,624.56 455.78
2013-12-31 2,155.82 11,027.02 720.57
2013-09-30 2,077.50 9,917.72 497.31
2013-06-30 2,021.83 11,179.84 800.97
2013-03-31 1,968.18 10,370.59 644.32
2012-12-31 1,985.09 11,525.20 1,773.43
2012-09-30 1,903.00 10,882.53 981.75
2012-06-30 1,786.60 11,289.83 1,475.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Credito Emiliano has an acceptable proportion of non-loan assets held.
  • Credito Emiliano's liabilities are made up of primarily low risk sources of funding.
  • Loans at Credito Emiliano are broadly funded by customer deposits.
  • Credito Emiliano's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Credito Emiliano has a sufficient allowance for bad loans without relevant financial data.
  • Credito Emiliano has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Credito Emiliano's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Credito Emiliano has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

0K93 Dividends

 What is Credito Emiliano's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.95%
Current annual income from Credito Emiliano dividends. Estimated to be 4.58% next year.
If you bought €2,000 of Credito Emiliano shares you are expected to receive €79 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Credito Emiliano's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • Credito Emiliano's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.14%).
Upcoming dividend payment

Purchase Credito Emiliano before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0K93 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.1%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0K93 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.25 6.00
2020-12-31 0.24 7.00
2019-12-31 0.21 7.00
LSE:0K93 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-10 0.200 3.913
2019-02-07 0.200 3.934
2018-04-10 0.200 3.476
2018-02-12 0.200 2.760
2017-04-07 0.150 2.098
2017-02-16 0.150 2.432
2016-04-07 0.150 2.680
2015-04-09 0.150 2.223
2014-04-10 0.120 1.802
2014-03-14 0.120 1.678
2013-03-15 0.120 2.536
2012-04-27 0.100 2.994
2011-03-22 0.100 2.934
2010-03-31 0.080 1.666
2009-10-30 0.000 0.000
2009-04-30 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Credito Emiliano has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Credito Emiliano only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Credito Emiliano's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess Credito Emiliano's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Credito Emiliano afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Credito Emiliano has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

0K93 Management

 What is the CEO of Credito Emiliano's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Nazzareno Gregori
COMPENSATION €541,000
CEO Bio

Mr. Nazzareno Gregori has been General Manager of Credito Emiliano S.p.A. since August 31, 2016. Mr. Gregori served as a Deputy General Manager of Credito Emiliano S.p.A. until August 31, 2016. Mr. Gregori served as Central Manager of Credito Emiliano S.p.A. Mr. Gregori served as the Chief Executive Officer of Abaxbank SpA. He served as a Director at SIA S.p.A.

CEO Compensation
  • Nazzareno's compensation has been consistent with company performance over the past year.
  • Nazzareno's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Nazzareno Gregori

TITLE
General Manager
COMPENSATION
€541K

Angelo Campani

TITLE
Joint General Manager
COMPENSATION
€541K

Benedetta Levi

TITLE
Head of IR

Stefano Pilastri

TITLE
Deputy General Manager

Stefano Morellini

TITLE
Deputy General Manager

Ottorino Righetti

TITLE
Secretary
Board of Directors Tenure

Average tenure and age of the Credito Emiliano board of directors in years:

7
Average Tenure
61
Average Age
  • The tenure for the Credito Emiliano board of directors is about average.
Board of Directors

Lucio Igino di Valgiurata

TITLE
Chairman of the Board
COMPENSATION
€61K
AGE
62
TENURE
1 yrs

Enrico Corradi

TITLE
Deputy Chairman of the Board
COMPENSATION
€70K
AGE
62
TENURE
1 yrs

Luigi Maramotti

TITLE
Deputy Chairman of the Board
COMPENSATION
€17K
AGE
61

Anna Allievi

TITLE
Chairman of Statutory Auditors Board

Benedetto Maria Renda

TITLE
Director
COMPENSATION
€42K
AGE
67
TENURE
18.6 yrs

Giorgio Ferrari

TITLE
Director
COMPENSATION
€222K
AGE
85

Giovanni Viani

TITLE
Director
COMPENSATION
€42K
AGE
57
TENURE
13 yrs

Giorgia Fontanesi

TITLE
Director
COMPENSATION
€44K
AGE
47
TENURE
7 yrs

Paola Maria Schwizer

TITLE
Independent Director
COMPENSATION
€61K
AGE
53
TENURE
7 yrs

Ernestina Morstofolini

TITLE
Independent Director
COMPENSATION
€53K
AGE
59
TENURE
5.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
20. Jun 18 Buy Credito Emiliano Holding S.p.A. Company 14. Jun 18 14. Jun 18 800,000 €6.34 €5,072,000
X
Management checks
We assess Credito Emiliano's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Credito Emiliano has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

0K93 News

Simply Wall St News

0K93 Company Info

Description

Credito Emiliano S.p.A., together with its subsidiaries, provides various banking services to retail and corporate customers primarily in Italy. The company operates through Commercial Banking, Asset Management, Bancassurance, Trading, and ALM Treasury segments. Its deposit products include current accounts and savings accounts, time deposits, certificates of deposit, bonds and subordinated debts, and repurchase agreements. The company’s loan portfolio comprises mortgages, credit cards, personal loans, and salary-backed loans. It also offers wealth management services, including management of mutual investment funds, SICAV, portfolio management, and private equity and hedge funds; and asset management, bancassurance, remote banking, fiduciary, savings management, brokerage, factoring, insurance, trading, financial leasing, and ALM treasury services, as well as cheese warehousing services. As of December 31, 2017, Credito Emiliano S.p.A. operated a network of approximately 630 branches, business centers, and financial outlets in 19 regions and 90 Italian provinces. The company was founded in 1910 and is headquartered in Reggio Emilia, Italy. Credito Emiliano S.p.A. is a subsidiary of Credito Emiliano Holding S.p.A.

Details
Name: Credito Emiliano S.p.A.
0K93
Exchange: LSE
Founded: 1910
€1,676,297,247
331,284,041
Website: http://www.credem.it
Address: Credito Emiliano S.p.A.
Via Emilia San Pietro no. 4,
Reggio Emilia,
Reggio Emilia, 42100,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT CE Ordinary Shares Borsa Italiana IT EUR 13. Jan 1998
LSE 0K93 Ordinary Shares London Stock Exchange GB EUR 13. Jan 1998
BATS-CHIXE CEM Ordinary Shares BATS 'Chi-X Europe' GB EUR 13. Jan 1998
Number of employees
Current staff
Staff numbers
6,231
Credito Emiliano employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:29
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/04/10
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.