LSE:0MIL

Stock Analysis Report

Credito Valtellinese

Executive Summary

Credito Valtellinese S.p.A., together with its subsidiaries, provides various banking services to families, trades, professionals, and small and medium-sized companies in Italy.


Snowflake Analysis

Solid track record with adequate balance sheet.


Similar Companies

Share Price & News

How has Credito Valtellinese's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 0MIL has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-15.9%

0MIL

-8.5%

GB Banks

-8.6%

GB Market


1 Year Return

1.7%

0MIL

-14.3%

GB Banks

-1.3%

GB Market

Return vs Industry: 0MIL exceeded the UK Banks industry which returned -14.3% over the past year.

Return vs Market: 0MIL exceeded the UK Market which returned -1.3% over the past year.


Shareholder returns

0MILIndustryMarket
7 Day-15.9%-8.5%-8.6%
30 Day9.5%-9.4%-8.4%
90 Day4.4%-11.1%-5.3%
1 Year1.7%1.7%-8.5%-14.3%4.0%-1.3%
3 Year-85.3%-99.8%-13.2%-24.5%7.6%-6.1%
5 Year-95.8%-99.9%-10.1%-27.8%23.4%-4.8%

Price Volatility Vs. Market

How volatile is Credito Valtellinese's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Credito Valtellinese undervalued compared to its fair value and its price relative to the market?

9.62x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 0MIL's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 0MIL's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 0MIL is poor value based on its PE Ratio (10.1x) compared to the Banks industry average (8.6x).

PE vs Market: 0MIL is good value based on its PE Ratio (10.1x) compared to the UK market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: 0MIL is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: 0MIL is good value based on its PB Ratio (0.3x) compared to the GB Banks industry average (0.7x).


Next Steps

Future Growth

How is Credito Valtellinese forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

9.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0MIL's forecast earnings growth (9.1% per year) is above the savings rate (0.5%).

Earnings vs Market: 0MIL's earnings (9.1% per year) are forecast to grow slower than the UK market (13.2% per year).

High Growth Earnings: 0MIL's earnings are forecast to grow, but not significantly.

Revenue vs Market: 0MIL's revenue (7.9% per year) is forecast to grow faster than the UK market (3.8% per year).

High Growth Revenue: 0MIL's revenue (7.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0MIL's Return on Equity is forecast to be low in 3 years time (5.1%).


Next Steps

Past Performance

How has Credito Valtellinese performed over the past 5 years?

23.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0MIL has high quality earnings.

Growing Profit Margin: 0MIL's current net profit margins (11.4%) are higher than last year (7.3%).


Past Earnings Growth Analysis

Earnings Trend: 0MIL has become profitable over the past 5 years, growing earnings by 23.9% per year.

Accelerating Growth: 0MIL's earnings growth over the past year (77.3%) exceeds its 5-year average (23.9% per year).

Earnings vs Industry: 0MIL earnings growth over the past year (77.3%) exceeded the Banks industry 29.6%.


Return on Equity

High ROE: 0MIL's Return on Equity (3.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: 0MIL has a low level of unsold assets or inventory.

Debt Coverage by Assets: 0MIL's debt is not covered by short term assets (assets are 0.5x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 0MIL is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: 0MIL is profitable, therefore cash runway is not a concern.


Financial Institutions Analysis

Asset Level: 0MIL's level of assets compared to its equity is moderate.

Allowance for Bad Loans: 0MIL has a low allowance for bad loans.

Low Risk Liabilities: 0MIL's liabilities are made up of primarily low risk sources of funding.

Loan Level: 0MIL has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 0MIL's loans are broadly funded by customer deposits.

Level of Bad Loans: 0MIL has a high level of bad loans (6.9%)


Next Steps

Dividend

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

9.23%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.9%markettop25%5.4%industryaverage7.1%forecastin3Years9.2%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 0MIL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 0MIL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 0MIL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 0MIL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 0MIL is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 0MIL's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.8yrs

Average management tenure


CEO

Luigi Lovaglio (64yo)

1yrs

Tenure

0

Mr. Luigi Lovaglio has been a Director at Credito Valtellinese SpA since October 12, 2018 and its Chief Executive Officer and General Manager since February 2019 and serves as its Managing Director. Mr. Lo ...


Leadership Team

NamePositionTenureCompensationOwnership
Enzo Rocca
Deputy GM and Head of Compliance & Anti-Money Laundering Function2.1yrs€305.68kno data
Umberto Colli
Deputy GM0.6yrs€314.72kno data
Luigi Lovaglio
GM, CEO1yrsno datano data
Tiziana Camozzi
Head of Investor Relations0yrsno datano data
Mauro Danesino
Head of Legal & Regulatory Affairs area0.6yrsno datano data
Federico Ascari
Head of Corporate Identity0.6yrsno datano data
Raffaella Cristini
Head of Human Resources1.1yrsno datano data
Vittorio Pellegatta
Chief Lending Officer & Deputy GM0yrsno datano data
Alberto Penna
Head of Internal Auditing Department0yrsno datano data
Luigi Persico
Head of Non Core Assets0yrsno datano data

0.8yrs

Average Tenure

55.5yo

Average Age

Experienced Management: 0MIL's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Luigi Lovaglio
GM, CEO1yrsno datano data
Livia Alberti
Independent Director1.3yrsno datano data
Elena Beccalli
Independent Director3.8yrsno datano data
Alessandro Trotter
Independent Chairman of the Board1yrsno datano data
Stefano Caselli
Independent Deputy Chairman1.3yrsno datano data
Fausto Galmarini
Independent Director1.3yrsno datano data
Teresa Naddeo
Independent Director1.3yrsno datano data
Paola Bruno
Independent Director1.3yrsno datano data
Stefano Gatti
Independent Director1.3yrsno datano data
Francesca Maurelli
Chairman of the Board of Statutory Auditors0.8yrsno datano data

1.3yrs

Average Tenure

53yo

Average Age

Experienced Board: 0MIL's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 258%.


Top Shareholders

Company Information

Credito Valtellinese S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Credito Valtellinese S.p.A.
  • Ticker: 0MIL
  • Exchange: LSE
  • Founded: 1908
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: €522.615m
  • Shares outstanding: 7.01b
  • Website: https://www.creval.it

Number of Employees


Location

  • Credito Valtellinese S.p.A.
  • Piazza Quadrivio 8
  • Sondrio
  • Sondrio
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CVALBIT (Borsa Italiana)YesNominal SharesITEURJan 1992
0MILLSE (London Stock Exchange)YesNominal SharesGBEURJan 1992
VA92DB (Deutsche Boerse AG)YesNominal SharesDEEURJan 1992
CVALMBATS-CHIXE (BATS 'Chi-X Europe')YesNominal SharesGBEURJan 1992
CVALBIT (Borsa Italiana)YesNominal SharesITEURJan 1992

Biography

Credito Valtellinese S.p.A., together with its subsidiaries, provides various banking services to families, trades, professionals, and small and medium-sized companies in Italy. The company operates through Market and Specialised Company segments. It offers lending products and services; and investment and transfer services. The company is also involved in the distribution of bancassurance and factoring products; and management and development of information and communication technology. The company’s primary products and services include current accounts, savings deposits, and certificates of deposit; mortgage loans; investment products; money products and payment systems; international products; and insurance products and services. It operates through a network of 412 branches; 558 ATMs; and 27,162 POS terminals. Credito Valtellinese S.p.A. was founded in 1908 and is based in Sondrio, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 21:55
End of Day Share Price2020/02/28 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.