Loading...

UniCredit

LSE:0RLS
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0RLS
LSE
€27B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

UniCredit S.p.A. operates as a commercial bank. The last earnings update was 36 days ago. More info.


Add to Portfolio Compare Print
0RLS Share Price and Events
7 Day Returns
-5.9%
LSE:0RLS
0%
GB Banks
1.5%
GB Market
1 Year Returns
-32.5%
LSE:0RLS
-9.9%
GB Banks
2.1%
GB Market
0RLS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
UniCredit (0RLS) -5.9% 7.1% 15.2% -32.5% -64.3% -81%
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
  • 0RLS underperformed the Banks industry which returned -9.9% over the past year.
  • 0RLS underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.1% over the past year.
Price Volatility
0RLS
Industry
5yr Volatility vs Market

Value

 Is UniCredit 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 UniCredit 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 UniCredit.

LSE:0RLS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 19 analysts.
= Stable Book Value * Return on Equity
= €26.49 * 7.7%
€2.03
Book Value of Equity per Share Weighted future Book Value estimates from 14 analysts. €26.49
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:0RLS
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%) (849.08%))
3.302
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:0RLS using Excess Returns Model Model

The calculations below outline how an intrinsic value for UniCredit 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:0RLS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.7% – 19.27%) * €26.49)
€-3.07
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-3.07 / (19.27% - 1.23%)
€-17.02
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €26.49 + €-17.02
€9.47
LSE:0RLS Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0RLS represents 1.00855x of BIT:UCG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00855x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 9.47 x 1.00855
€9.55
Value per share (EUR) From above. €9.55
Current discount Discount to share price of €12.21
= -1 x (€12.21 - €9.55) / €9.55
-27.9%

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

  • The current share price of UniCredit 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 UniCredit's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are UniCredit's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0RLS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.71
BIT:UCG Share Price ** BIT (2019-04-24) in EUR €12.11
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 UniCredit.

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

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

= 12.11 ÷ 1.71

7.1x

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

  • UniCredit is good value based on earnings compared to the GB Banks industry average.
  • UniCredit is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does UniCredit's expected growth come at a high price?
Raw Data
LSE:0RLS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
6.7%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:0RLS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.1x ÷ 6.7%

1.06x

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

  • UniCredit is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on UniCredit's assets?
Raw Data
LSE:0RLS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €25.04
BIT:UCG Share Price * BIT (2019-04-24) in EUR €12.11
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:0RLS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 12.11 ÷ 25.04

0.48x

* Primary Listing of UniCredit.

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

  • UniCredit is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess UniCredit'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. UniCredit 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.

Future Performance

 How is UniCredit expected to perform in the next 1 to 3 years based on estimates from 19 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
6.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is UniCredit expected to grow at an attractive rate?
  • UniCredit's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • UniCredit's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • UniCredit's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0RLS Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0RLS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 6.7%
LSE:0RLS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 5.6%
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:0RLS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0RLS Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 20,762 5,339 1
2022-12-31 20,452 5,091 1
2021-12-31 20,510 4,814 17
2020-12-31 20,101 4,528 19
2019-12-31 19,679 4,453 19
LSE:0RLS Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 16,614 -30,960 3,786
2018-09-30 16,333 2,394
2018-06-30 16,931 -51,345 3,058
2018-03-31 16,636 3,127
2017-12-31 16,410 2,143 2,759
2017-09-30 6,091 -11,235
2017-06-30 5,902 17,891 -11,672
2017-03-31 6,370 -11,811
2016-12-31 5,857 -19,094 -12,548
2016-09-30 13,421 -11,859 -206
2016-06-30 13,802 -32,329 -17
2016-03-31 13,710 -346

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • UniCredit's earnings are expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
  • UniCredit's revenue is expected to grow by 5.6% 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:0RLS 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 19 Analyst Estimates (S&P Global) See Below

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

LSE:0RLS Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.39 2.39 2.39 1.00
2022-12-31 2.28 2.28 2.28 1.00
2021-12-31 2.13 2.39 1.89 12.00
2020-12-31 2.01 2.25 1.85 17.00
2019-12-31 1.98 2.43 1.73 17.00
LSE:0RLS Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.71
2018-09-30
2018-06-30 1.38
2018-03-31
2017-12-31 1.42
2017-09-30
2017-06-30 -10.23
2017-03-31
2016-12-31 -20.87
2016-09-30 -0.35
2016-06-30 -0.03
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.
  • UniCredit is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess UniCredit'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.
UniCredit has a total score of 2/6, 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.

Past Performance

  How has UniCredit 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 UniCredit'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.
  • UniCredit has delivered over 20% year on year earnings growth in the past 5 years.
  • UniCredit's 1-year earnings growth exceeds its 5-year average (37.2% vs 32.2%)
  • UniCredit's earnings growth has not exceeded the GB Banks industry average in the past year (37.2% vs 42.2%).
Earnings and Revenue History
UniCredit'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 UniCredit Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0RLS 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 16,613.61 3,785.74 11,455.42
2018-09-30 16,333.19 2,394.35 11,342.26
2018-06-30 16,931.19 3,058.35 11,557.26
2018-03-31 16,636.19 3,127.35 11,739.26
2017-12-31 16,410.19 2,759.35 12,068.04
2017-09-30 6,090.61 -11,235.10 12,787.68
2017-06-30 5,901.61 -11,672.10 12,939.68
2017-03-31 6,369.61 -11,811.10 13,097.68
2016-12-31 5,856.61 -12,548.10 13,186.68
2016-09-30 13,420.93 -206.36 11,781.57
2016-06-30 13,802.17 -17.30 12,007.58
2016-03-31 13,710.24 -345.55 12,294.17
2015-12-31 14,577.24 216.45 12,749.17
2015-09-30 17,666.31 1,865.92 13,687.76
2015-06-30 18,277.06 2,174.87 13,938.76
2015-03-31 17,709.82 1,957.49 13,733.86
2014-12-31 17,758.82 2,096.49 13,729.86
2014-09-30 9,554.84 -12,403.19 13,188.24
2014-06-30 8,871.84 -12,963.19 13,192.24
2014-03-31 9,283.02 -13,025.56 13,611.54
2013-12-31 9,103.02 -13,309.56 13,731.54
2013-09-30 12,394.27 525.35 13,795.06
2013-06-30 12,763.27 665.35 14,015.06
2013-03-31 12,648.27 453.35 14,213.06
2012-12-31 13,744.27 946.35 14,431.06
2012-09-30 19,349.30 1,470.30 14,253.19
2012-06-30 18,102.30 -9,505.70 14,459.19

*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.
  • UniCredit has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • UniCredit used its assets less efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if UniCredit 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 UniCredit'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.
UniCredit has a total score of 2/6, 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.

Health

 How is UniCredit'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 UniCredit'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 UniCredit Company Filings, last reported 3 months ago.

LSE:0RLS Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 56,767.78 228,647.57 183,877.61
2018-09-30 55,178.00 93,737.00 112,839.00
2018-06-30 56,298.44 228,662.38 192,100.36
2018-03-31 57,891.00 99,250.00 135,956.00
2017-12-31 60,224.70 245,031.05 205,328.58
2017-09-30 58,577.00 113,242.00 136,140.00
2017-06-30 55,983.31 252,804.19 194,254.40
2017-03-31 57,035.00 117,305.00 124,683.00
2016-12-31 43,188.30 284,478.73 164,316.11
2016-09-30 55,142.10 301,591.31 178,163.92
2016-06-30 53,296.87 321,549.87 191,097.01
2016-03-31 53,944.00 141,661.00 115,861.00
2015-12-31 53,485.52 305,524.70 173,100.36
2015-09-30 53,566.00 216,997.00 111,733.00
2015-06-30 53,466.48 336,778.26 187,080.73
2015-03-31 55,042.00 257,796.00 135,708.00
2014-12-31 52,835.55 329,893.44 176,549.13
2014-09-30 54,832.00 172,284.00 116,343.00
2014-06-30 52,171.74 333,566.40 172,637.68
2014-03-31 50,851.00 239,854.00 104,453.00
2013-12-31 50,055.69 322,153.65 157,759.19
2013-09-30 65,266.00 251,213.00 110,425.00
2013-06-30 65,152.51 348,909.97 171,170.55
2013-03-31 66,568.00 275,026.00 123,774.00
2012-12-31 65,247.65 368,158.52 185,319.14
2012-09-30 66,165.00 314,277.00 159,543.00
2012-06-30 64,476.05 404,262.85 221,146.71
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.
  • UniCredit has an acceptable proportion of non-loan assets held.
  • UniCredit's liabilities are made up of primarily low risk sources of funding.
  • Loans at UniCredit are broadly funded by customer deposits.
  • UniCredit's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • UniCredit has a low allowance for bad loans.
  • UniCredit has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess UniCredit'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. UniCredit 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.

Dividends

 What is UniCredit'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
2.23%
Current annual income from UniCredit dividends. Estimated to be 6.09% next year.
If you bought €2,000 of UniCredit shares you are expected to receive €45 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?
  • UniCredit's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • UniCredit's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.14%).
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:0RLS 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 19 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:0RLS Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.03 1.00
2022-12-31 0.96 1.00
2021-12-31 0.88 19.00
2020-12-31 0.76 23.00
2019-12-31 0.57 23.00
LSE:0RLS Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-19 0.270 2.251
2019-02-07 0.270 2.378
2018-03-21 0.320 2.455
2018-02-08 0.320 1.854
2017-11-09 0.000 0.000
2017-08-10 0.000 0.000
2017-08-03 0.000 0.000
2017-05-11 0.000 0.000
2017-03-29 0.000 0.000
2017-02-09 0.000 0.000
2017-02-03 0.000 0.000
2016-02-12 1.200 4.824
2015-04-20 1.200 2.197
2015-02-11 1.200 1.975
2014-04-17 1.000 1.707
2014-03-12 1.000 1.546
2013-03-15 0.900 1.970
2012-11-14 0.000 0.000
2012-11-13 0.000 0.000
2012-08-10 0.000 0.000
2012-08-03 0.000 0.000
2012-05-15 0.000 0.000
2012-05-10 0.000 0.000
2012-04-19 0.000 0.000
2012-03-27 0.000 0.000
2012-01-04 3.000 7.956
2011-04-04 3.000 2.989
2011-03-23 3.000 1.664
2010-03-17 3.000 1.618
2009-11-13 0.000 0.000
2009-11-11 0.000 0.000
2009-08-31 0.000 0.000
2009-08-04 0.000 0.000
2009-05-14 0.000 0.000
2009-05-13 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, UniCredit has been paying a dividend for less than 10 years.
  • UniCredit has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of UniCredit's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.3x 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 UniCredit'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 UniCredit afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. UniCredit 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.

Management

 What is the CEO of UniCredit'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
Jean Mustier
AGE 57
TENURE AS CEO 2.8 years
CEO Bio

Mr. Jean-Pierre Mustier has been a Partner at Tikehau Capital since January 1, 2015. At Tikehau Capital, Mr. Mustier's primary focus is on its international expansion, while also contributing to the various existing businesses and involves firm's private debt and private equity activities, as well as equity participation investment activities. He is Chief Executive Officer of UniCredit S.p.A. since 2019. He was Chief Executive Officer of UniCredit S.p.A. since July 12, 2016 until 2019. He served as the Head of Corporate & Investment Banking and Deputy General Manager at UniCredit S.p.A. from March 14, 2011 to January 1, 2015 and also served as its General Manager. He serves as a Director of Institute of International Finance, Inc. He served as the Chairman and Chief Executive Officer at SG Gestion. Mr. Mustier also served as the Head/Chief Executive Officer of Global Investment Management & Services (GIMS) Division and Chief Executive Officer of Société Générale Asset Management at Societe Generale Group since September 2008 and also served as its Unit Chief Executive Officer since 2003 and Head of Global Investment Management and Custody. He served as the Chief Executive Officer of SG Corporate & Investment Banking from 2003 to May 2008. He served as Head of Société Générale’s Debt Finance Division from 2001 to 2002. From 1999 to 2000, he served as Deputy Director of Equities. He also served as the Head of Fixed Income, Foreign Exchange, Commodities and Derivatives and as Director of SG Securities Asia, from 1996 to 1998. He started and developed his career in Société Générale, where he worked from 1987 to 2009. His career with Société Générale was totally focused on Corporate & Investment Banking and gained extensive expertise in the business, having held numerous positions in various markets and financing activities in Europe, Asia and the US. He served as Global Head of Equity Derivatives and Co-Head of Société Générale’s Equities division, from 1993 to 1996 and as Head of Options for Japon, from 1991 to 1992. He served as the Chairman of Societe Generale Gestion (Also known as Societe Generale Asset Management/Société Générale Asset Management). He served as the Chairman and Director of Société Générale Asset Management. He served as Vice Chairman and Director of Newedge Group S.A. Mr. Mustier has been a Director of UniCredit S.p.A. since June 30, 2016. He served as a Director of Alitalia - Compagnia Aerea Italiana S.p.A. since December 2, 2016. He served as a Member of the Supervisory Board of UniCredit Bank Austria AG from April 20, 2011 to May 16, 2013. He served as a Director at HLD Associés. He served as a Director of LCH Group Holdings Limited until August 6, 2009 and Boursorama SA from May 3, 2004 to August 6, 2009. He served as a Member of advisory board of EnBW Energie Baden-Württemberg AG from September 1, 2006 to March 31, 2008. Mr. Mustier graduated from the French École Polytechnique and École des Mines de Paris.

CEO Compensation
  • Insufficient data for Jean to compare compensation growth.
  • Insufficient data for Jean to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the UniCredit management team in years:

1.8
Average Tenure
53
Average Age
  • The average tenure for the UniCredit management team is less than 2 years, this suggests a new team.
Management Team

Jean Mustier

TITLE
Group CEO & Director
AGE
57
TENURE
2.8 yrs

Mirko Davide Bianchi

TITLE
CO- CFO & Senior EVP
AGE
56
TENURE
0.3 yrs

Stefano Porro

TITLE
Co-Chief Financial Officer
AGE
43
TENURE
0.3 yrs

Ranieri De Marchis

TITLE
Co-Chief Operating Officer
AGE
57
TENURE
2.6 yrs

Carlo Vivaldi

TITLE
Co-Chief Operating Officer
AGE
53
TENURE
0.2 yrs

Jörg Pietzner

TITLE
Head of Group Investor Relations

Carlo Appetiti

TITLE
Chief Compliance Officer
AGE
52
TENURE
4.3 yrs

Gianpaolo Alessandro

TITLE
Senior EVP
TENURE
3.3 yrs

Max Hohenberg

TITLE
Head of Group Identity & Communications
AGE
48
TENURE
0.9 yrs

Lucio Izzi

TITLE
Executive VP and Head of Corporate Sales & Marketing- Italy
Board of Directors Tenure

Average tenure and age of the UniCredit board of directors in years:

2.8
Average Tenure
58.5
Average Age
  • The average tenure for the UniCredit board of directors is less than 3 years, this suggests a new board.
Board of Directors

Fabrizio Saccomanni

TITLE
Chairman
AGE
76
TENURE
1 yrs

Jean Mustier

TITLE
Group CEO & Director
AGE
57
TENURE
2.8 yrs

Cesare Bisoni

TITLE
Deputy Chairman
COMPENSATION
€125K
AGE
74
TENURE
1 yrs

Alexander Wolfgring

TITLE
Director
COMPENSATION
€258K
AGE
56
TENURE
5.9 yrs

Lamberto Andreotti

TITLE
Director
AGE
67
TENURE
1 yrs

Stefano Micossi

TITLE
Director
AGE
72
TENURE
1 yrs

Marco Giuseppe Rigotti

TITLE
Chairman of Board of Statutory Auditors
AGE
51

Elena Emilia Zambon

TITLE
Director
COMPENSATION
€89K
AGE
54
TENURE
3.9 yrs

Mohamed Hamad Hamed Al Mehairi

TITLE
Director
COMPENSATION
€20K
AGE
43
TENURE
3.5 yrs

Sergio Balbinot

TITLE
Director
AGE
60
TENURE
2.8 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 (€)
X
Management checks
We assess UniCredit'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. UniCredit 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.

News

Simply Wall St News

Company Info

Description

UniCredit S.p.A. operates as a commercial bank. The company operates through Commercial Banking Italy, Commercial Banking Germany, Commercial Banking Austria, Corporate & Investment Banking, Central and Eastern Europe, and Fineco segments. It offers retail, corporate, and private banking services; credit, trading, and investment services; leasing and factoring services; transactional, investment, and credit products and services; insurance solutions; and structured financing, and hedging and treasury solutions. The company also provides equity and debt capital market, corporate finance and advisory, syndication, and leverage buy-out services; and project and commodity, real estate, structured trade and export, and acquisition finance services, as well as wealth management services. In addition, it is involved in the structuring of products, such as FX, rates, equities, and credit products; and provision of cash management, e-banking, supply chain finance, global securities, and mobile banking services, as well as trade finance products. The company operates in Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Russia, Serbia, Slovakia, Slovenia, and Turkey, as well as other 18 countries internationally. The company was formerly known as Unicredito Italiano S.p.A. UniCredit S.p.A. was founded in 1870 and is headquartered in Milan, Italy.

Details
Name: UniCredit S.p.A.
0RLS
Exchange: LSE
Founded: 1870
€26,928,963,912
2,223,696,442
Website: http://www.unicreditgroup.eu
Address: UniCredit S.p.A.
Tower A,
Piazza Gae Aulenti, 3,
Milan,
Milan, 20154,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT UCG Ordinary Shares Borsa Italiana IT EUR 17. Nov 1980
OTCPK UNCF.F Ordinary Shares Pink Sheets LLC US USD 17. Nov 1980
DB CRIN Ordinary Shares Deutsche Boerse AG DE EUR 17. Nov 1980
LSE 0RLS Ordinary Shares London Stock Exchange GB EUR 17. Nov 1980
SWX UCG Ordinary Shares SIX Swiss Exchange CH CHF 17. Nov 1980
WBAG UCG Ordinary Shares Wiener Boerse AG AT EUR 17. Nov 1980
BMV UCG N Ordinary Shares Bolsa Mexicana de Valores MX MXN 17. Nov 1980
WSE UCG Ordinary Shares Warsaw Stock Exchange PL PLN 17. Nov 1980
BATS-CHIXE CRIND Ordinary Shares BATS 'Chi-X Europe' GB EUR 17. Nov 1980
BDL 052762405 9.375%-FRN SUB PERP EUR50000 'REGS' Bourse de Luxembourg LU EUR 19. Jul 2010
OTCPK UNCR.Y UNSPONSORD ADR Pink Sheets LLC US USD 19. Oct 2017
DB CRIP UNSPONSORD ADR Deutsche Boerse AG DE EUR 19. Oct 2017
LSE 0RLS NPV London Stock Exchange GB EUR 23. Jan 2017
SWX UCG NPV SIX Swiss Exchange CH CHF 23. Jan 2017
BMV UCG N NPV Bolsa Mexicana de Valores MX MXN 23. Jan 2017
WSE UCG NPV Warsaw Stock Exchange PL PLN 23. Jan 2017
Number of employees
Current staff
Staff numbers
86,786
UniCredit employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:03
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/22
Last earnings filing: 2019/03/19
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.