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ISP

Intesa Sanpaolo BIT:ISP Stock Report

Last Price

€1.90

Market Cap

€36.7b

7D

0.7%

1Y

-19.4%

Updated

28 Jun, 2022

Data

Company Financials +
ISP fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance4/6
Financial Health4/6
Dividends4/6

ISP Stock Overview

Intesa Sanpaolo S.p.A. provides various financial products and services primarily in Italy.

Intesa Sanpaolo Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Intesa Sanpaolo
Historical stock prices
Current Share Price€1.90
52 Week High€2.92
52 Week Low€1.68
Beta1.64
1 Month Change-7.25%
3 Month Change-11.03%
1 Year Change-19.43%
3 Year Change0.72%
5 Year Change-33.38%
Change since IPO11.16%

Recent News & Updates

Shareholder Returns

ISPIT BanksIT Market
7D0.7%-0.8%-0.3%
1Y-19.4%-13.6%-15.1%

Return vs Industry: ISP underperformed the Italian Banks industry which returned -13.6% over the past year.

Return vs Market: ISP underperformed the Italian Market which returned -15.1% over the past year.

Price Volatility

Is ISP's price volatile compared to industry and market?
ISP volatility
ISP Average Weekly Movement4.5%
Banks Industry Average Movement4.8%
Market Average Movement5.1%
10% most volatile stocks in IT Market7.2%
10% least volatile stocks in IT Market3.3%

Stable Share Price: ISP is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ISP's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a96,681Carlo Messinahttps://www.intesasanpaolo.com

Intesa Sanpaolo S.p.A. provides various financial products and services primarily in Italy. It operates through six segments Banca dei Territori, IMI Corporate & Investment Banking, International Subsidiary Banks, Asset Management, Private Banking, and Insurance. The company offers lending and deposit products; corporate, investment banking, and public finance services; industrial credit, factoring, and leasing services; asset management solutions; life and non-life insurance products; and bancassurance and pension fund, and fiduciary services.

Intesa Sanpaolo Fundamentals Summary

How do Intesa Sanpaolo's earnings and revenue compare to its market cap?
ISP fundamental statistics
Market Cap€36.73b
Earnings (TTM)€3.69b
Revenue (TTM)€17.45b

10.0x

P/E Ratio

0.6x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ISP income statement (TTM)
Revenue€17.45b
Cost of Revenue€0
Gross Profit€17.45b
Other Expenses€13.76b
Earnings€3.69b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 29, 2022

Earnings per share (EPS)0.19
Gross Margin100.00%
Net Profit Margin21.16%
Debt/Equity Ratio456.5%

How did ISP perform over the long term?

See historical performance and comparison

Dividends

9.0%

Current Dividend Yield

111%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is ISP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ISP?

Other financial metrics that can be useful for relative valuation.

ISP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

How does ISP's PE Ratio compare to its peers?

ISP PE Ratio vs Peers
The above table shows the PE ratio for ISP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.9x
UCG UniCredit
23.9x26.5%€20.5b
MB Mediobanca Banca di Credito Finanziario
7.9x-0.8%€7.1b
FBK FinecoBank Banca Fineco
17.7x12.2%€7.2b
BAMI Banco BPM
6.5x16.1%€4.2b
ISP Intesa Sanpaolo
10x15.9%€36.7b

Price-To-Earnings vs Peers: ISP is good value based on its Price-To-Earnings Ratio (10x) compared to the peer average (14x).


Price to Earnings Ratio vs Industry

How does ISP's PE Ratio compare vs other companies in the European Banks Industry?

Price-To-Earnings vs Industry: ISP is expensive based on its Price-To-Earnings Ratio (10x) compared to the Italian Banks industry average (6.5x)


Price to Earnings Ratio vs Fair Ratio

What is ISP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ISP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10x
Fair PE Ratio13x

Price-To-Earnings vs Fair Ratio: ISP is good value based on its Price-To-Earnings Ratio (10x) compared to the estimated Fair Price-To-Earnings Ratio (13x).


Share Price vs Fair Value

What is the Fair Price of ISP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ISP (€1.9) is trading above our estimate of fair value (€1.77)

Significantly Below Fair Value: ISP is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: ISP is good value based on its PEG Ratio (0.6x)


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Future Growth

How is Intesa Sanpaolo forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


15.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ISP's forecast earnings growth (15.9% per year) is above the savings rate (1.7%).

Earnings vs Market: ISP's earnings (15.9% per year) are forecast to grow faster than the Italian market (10.1% per year).

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

Revenue vs Market: ISP's revenue (3.8% per year) is forecast to grow faster than the Italian market (0.3% per year).

High Growth Revenue: ISP's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ISP's Return on Equity is forecast to be low in 3 years time (10.1%).


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Past Performance

How has Intesa Sanpaolo performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-12.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ISP has high quality earnings.

Growing Profit Margin: ISP's current net profit margins (21.2%) are higher than last year (16.1%).


Past Earnings Growth Analysis

Earnings Trend: ISP's earnings have declined by 12.3% per year over the past 5 years.

Accelerating Growth: ISP's earnings growth over the past year (46.1%) exceeds its 5-year average (-12.3% per year).

Earnings vs Industry: ISP earnings growth over the past year (46.1%) exceeded the Banks industry 35.8%.


Return on Equity

High ROE: ISP's Return on Equity (5.4%) is considered low.


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Financial Health

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

Financial Health Score

4/6

Financial Health Score 4/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: ISP's Assets to Equity ratio (16.5x) is moderate.

Allowance for Bad Loans: ISP has a low allowance for bad loans (70%).

Low Risk Liabilities: 53% of ISP's liabilities are made up of primarily low risk sources of funding.

Loan Level: ISP has an appropriate level of Loans to Assets ratio (46%).

Low Risk Deposits: ISP's Loans to Deposits ratio (93%) is appropriate.

Level of Bad Loans: ISP has a high level of bad loans (2.9%).


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Dividend

What is Intesa Sanpaolo current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


9.04%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ISP's dividend (9.04%) is higher than the bottom 25% of dividend payers in the Italian market (1.73%).

High Dividend: ISP's dividend (9.04%) is in the top 25% of dividend payers in the Italian market (5.18%)


Stability and Growth of Payments

Stable Dividend: ISP's dividend payments have been volatile in the past 10 years.

Growing Dividend: ISP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its high payout ratio (111%), ISP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ISP's dividends in 3 years are forecast to be covered by earnings (72.1% payout ratio).


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Management

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

6.9yrs

Average management tenure


CEO

Carlo Messina (59 yo)

8.75yrs

Tenure

€3,328,000

Compensation

Mr. Carlo Messina is Managing Director and Chief Executive Officer of Intesa Sanpaolo SpA since September 2013 and serves as its General Manager. A graduate of Economics and Business from the Luiss Univers...


CEO Compensation Analysis

Compensation vs Market: Carlo's total compensation ($USD3.50M) is about average for companies of similar size in the Italian market ($USD3.53M).

Compensation vs Earnings: Carlo's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ISP's management team is seasoned and experienced (6.9 years average tenure).


Board Members

Experienced Board: ISP's board of directors are considered experienced (6.2 years average tenure).


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Intesa Sanpaolo S.p.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Intesa Sanpaolo S.p.A.
  • Ticker: ISP
  • Exchange: BIT
  • Founded: NaN
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: €36.732b
  • Shares outstanding: 19.40b
  • Website: https://www.intesasanpaolo.com

Number of Employees


Location

  • Intesa Sanpaolo S.p.A.
  • Piazza San Carlo, 156
  • Turin
  • Turin
  • 10121
  • Italy

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/28 00:00
End of Day Share Price2022/06/28 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.