Mediobanca Banca di Credito Finanziario
Mediobanca Banca di Credito Finanziario S.p.A., together with its subsidiaries, provides various banking products and services in Italy and internationally. The last earnings update was 12 days ago. More info.
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MB Share Price and Events
7 Day Returns
1 Year Returns
MB Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Mediobanca Banca di Credito Finanziario (MB) | -0.6% | -6.3% | 7% | -3.1% | 27.5% | 23.9% |
| IT Banks | -4.6% | -15.8% | -4.9% | -29% | -56.3% | -64.4% |
| IT Market | -0.4% | -5.7% | 0.7% | -10% | -6.4% | -37.4% |
1 Year Return vs Industry and Market
- MB outperformed the Banks industry which returned -29% over the past year.
- MB outperformed the Market in Italy which returned -10% over the past year.
Value
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
Mediobanca Banca di Credito Finanziario
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Mediobanca Banca di Credito Finanziario.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity = €11.62 * 8.4% |
€0.97 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 5 analysts. | €11.62 |
| Discount Rate (Cost of Equity) | See below | 19.7% |
| Perpetual Growth Rate | 10-Year IT Government Bond Rate | 2.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year IT Govt Bond Rate | 2.9% |
| Equity Risk Premium | S&P Global | 9% |
| Banks Unlevered Beta | Simply Wall St/ S&P Global | 0.59 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 24%) (380.1%)) |
1.857 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.86 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.93% + (1.857 * 9.02%) |
19.68% |
Discounted Cash Flow Calculation for BIT:MB using Excess Returns Model Model
The calculations below outline how an intrinsic value for Mediobanca Banca di Credito Finanziario 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.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (8.4% – 19.68%) * €11.62) |
€-1.31 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= €-1.31 / (19.68% - 2.93%) |
€-7.84 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= €11.62 + €-7.84 |
€3.77 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €3.77 |
| Current discount | Discount to share price of
€8.90
= -1 x (€8.90 - €3.77) / €3.77 |
-135.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Mediobanca Banca di Credito Finanziario is above its future cash flow value.
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 Mediobanca Banca di Credito Finanziario's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Mediobanca Banca di Credito Finanziario's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in EUR | €0.95 |
| BIT:MB Share Price ** | BIT (2019-05-21) in EUR | €8.9 |
| Italy Banks Industry PE Ratio | Median Figure of 13 Publicly-Listed Banks Companies | 8.5x |
| Italy Market PE Ratio | Median Figure of 240 Publicly-Listed Companies | 15.46x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Mediobanca Banca di Credito Finanziario.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = BIT:MB Share Price ÷ EPS (both in EUR) = 8.9 ÷ 0.95 |
9.39x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Mediobanca Banca di Credito Finanziario is overvalued based on earnings compared to the IT Banks industry average.
- Mediobanca Banca di Credito Finanziario is good value based on earnings compared to the Italy market.
Price based on expected Growth
Does
Mediobanca Banca di Credito Finanziario's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 9.39x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
1.2%per year |
| Italy Banks Industry PEG Ratio | Median Figure of 11 Publicly-Listed Banks Companies | 0.85x |
| Italy Market PEG Ratio | Median Figure of 158 Publicly-Listed Companies | 1.39x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 9.39x ÷ 1.2% |
7.52x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Mediobanca Banca di Credito Finanziario is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Mediobanca Banca di Credito Finanziario's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in EUR | €10.51 |
| BIT:MB Share Price * | BIT (2019-05-21) in EUR | €8.9 |
| Italy Banks Industry PB Ratio | Median Figure of 16 Publicly-Listed Banks Companies | 0.37x |
| Italy Market PB Ratio | Median Figure of 320 Publicly-Listed Companies | 1.43x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = BIT:MB Share Price ÷ Book Value per Share (both in EUR) = 8.9 ÷ 10.51 |
0.85x |
* Primary Listing of Mediobanca Banca di Credito Finanziario.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Mediobanca Banca di Credito Finanziario is overvalued based on assets compared to the IT Banks industry average.
Value checks
We assess Mediobanca Banca di Credito Finanziario's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) Mediobanca Banca di Credito Finanziario has a total score of 1/6, 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
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!
Earnings growth vs Low Risk Savings
- Mediobanca Banca di Credito Finanziario's earnings growth is positive but not above the low risk savings rate of 2.9%.
Growth vs Market Checks
- Mediobanca Banca di Credito Finanziario's earnings growth is positive but not above the Italy market average.
- Mediobanca Banca di Credito Finanziario's revenue growth is expected to exceed the Italy market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| BIT:MB Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | 1.2% |
| BIT:MB Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 5% |
| Italy Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 6.8% |
| Italy Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 3.9% |
| Italy Market Earnings Growth Rate | Market Cap Weighted Average | 9.9% |
| Italy Market Revenue Growth Rate | Market Cap Weighted Average | 3.3% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-06-30 | 2,742 | 861 | 1 | |
| 2021-06-30 | 2,647 | 835 | 5 | |
| 2020-06-30 | 2,580 | 855 | 6 | |
| 2019-06-30 | 2,501 | 823 | 5 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,892 | 808 | |
| 2018-12-31 | 1,898 | 796 | 838 |
| 2018-09-30 | 1,849 | 808 | |
| 2018-06-30 | 1,898 | -471 | 864 |
| 2018-03-31 | 1,876 | 818 | |
| 2017-12-31 | 1,977 | -290 | 808 |
| 2017-09-30 | 1,790 | 780 | |
| 2017-06-30 | 1,704 | 370 | 750 |
| 2017-03-31 | 1,629 | 776 | |
| 2016-12-31 | 1,514 | -1,640 | 702 |
| 2016-09-30 | 1,434 | 631 | |
| 2016-06-30 | 1,365 | -161 | 605 |
*GAAP earnings excluding extraordinary items.
High Growth Checks
- Mediobanca Banca di Credito Finanziario's earnings are expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
- Mediobanca Banca di Credito Finanziario's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
All data from Mediobanca Banca di Credito Finanziario Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-06-30 | ||||
| 2021-06-30 | 0.95 | 1.02 | 0.87 | 5.00 |
| 2020-06-30 | 0.96 | 1.08 | 0.86 | 8.00 |
| 2019-06-30 | 0.94 | 0.96 | 0.90 | 7.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.95 |
| 2018-12-31 | 0.97 |
| 2018-09-30 | 0.94 |
| 2018-06-30 | 1.00 |
| 2018-03-31 | 0.94 |
| 2017-12-31 | 0.94 |
| 2017-09-30 | 0.91 |
| 2017-06-30 | 0.88 |
| 2017-03-31 | 0.91 |
| 2016-12-31 | 0.82 |
| 2016-09-30 | 0.74 |
| 2016-06-30 | 0.71 |
*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.
- Mediobanca Banca di Credito Finanziario is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Mediobanca Banca di Credito Finanziario's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Italy market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Italy market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Mediobanca Banca di Credito Finanziario has a total score of 1/6, 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 Mediobanca Banca di Credito Finanziario 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
Past Earnings growth analysis
- Mediobanca Banca di Credito Finanziario's year on year earnings growth rate has been positive over the past 5 years.
- Mediobanca Banca di Credito Finanziario's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Mediobanca Banca di Credito Finanziario's 1-year earnings growth is negative, it can't be compared to the IT Banks industry average.
Earnings and Revenue History
All data from Mediobanca Banca di Credito Finanziario Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,892.12 | 808.02 | 1,163.74 | |
| 2018-12-31 | 1,897.75 | 838.11 | 1,151.95 | |
| 2018-09-30 | 1,849.32 | 808.42 | 1,139.94 | |
| 2018-06-30 | 1,898.22 | 863.92 | 1,124.24 | |
| 2018-03-31 | 1,876.43 | 818.20 | 1,207.42 | |
| 2017-12-31 | 1,977.35 | 808.29 | 1,150.58 | |
| 2017-09-30 | 1,790.43 | 780.40 | 1,160.12 | |
| 2017-06-30 | 1,704.13 | 750.20 | 1,172.92 | |
| 2017-03-31 | 1,629.32 | 776.05 | 986.73 | |
| 2016-12-31 | 1,513.52 | 701.68 | 1,036.99 | |
| 2016-09-30 | 1,433.82 | 630.95 | 922.33 | |
| 2016-06-30 | 1,364.92 | 604.55 | 964.79 | |
| 2016-03-31 | 1,335.59 | 566.55 | 908.26 | |
| 2015-12-31 | 1,454.60 | 650.24 | 929.20 | |
| 2015-09-30 | 1,371.19 | 674.05 | 858.26 | |
| 2015-06-30 | 1,326.49 | 589.75 | 843.47 | |
| 2015-03-31 | 1,171.09 | 535.08 | 818.96 | |
| 2014-12-31 | 1,009.90 | 420.66 | 804.97 | |
| 2014-09-30 | 1,034.99 | 453.58 | 798.06 | |
| 2014-06-30 | 1,000.59 | 464.78 | 783.16 | |
| 2014-03-31 | 825.68 | 181.93 | 766.04 | |
| 2013-12-31 | 816.21 | 4.78 | 748.95 | |
| 2013-09-30 | 815.28 | -113.97 | 751.24 | |
| 2013-06-30 | 809.48 | -176.17 | 755.44 | |
| 2013-03-31 | 886.90 | 13.20 | 758.01 | |
| 2012-12-31 | 962.70 | 141.27 | 762.01 | |
| 2012-09-30 | 994.40 | 133.10 | 758.21 | |
| 2012-06-30 | 899.80 | 80.90 | 783.01 |
*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.
- Mediobanca Banca di Credito Finanziario has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Mediobanca Banca di Credito Finanziario used its assets more efficiently than the IT Banks industry average last year based on Return on Assets.
- Unable to establish if Mediobanca Banca di Credito Finanziario improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess Mediobanca Banca di Credito Finanziario's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Mediobanca Banca di Credito Finanziario 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
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.
Balance sheet
Assets
Liabilities and shares
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.
All data from Mediobanca Banca di Credito Finanziario Company Filings, last reported 1 month ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 9,413.50 | 29,434.40 | 9,728.80 |
| 2018-12-31 | 9,294.09 | 38,337.46 | 16,517.26 |
| 2018-09-30 | 9,271.30 | 28,878.70 | 8,403.80 |
| 2018-06-30 | 9,732.21 | 33,688.03 | 14,035.28 |
| 2018-03-31 | 9,614.00 | 30,248.80 | 8,491.70 |
| 2017-12-31 | 9,308.32 | 34,643.69 | 17,179.44 |
| 2017-09-30 | 9,098.50 | 30,751.60 | 8,304.50 |
| 2017-06-30 | 9,191.66 | 32,090.99 | 14,933.44 |
| 2017-03-31 | 9,156.80 | 31,913.00 | 10,235.80 |
| 2016-12-31 | 9,142.98 | 34,738.41 | 17,229.29 |
| 2016-09-30 | 8,921.20 | 21,406.00 | |
| 2016-06-30 | 8,921.85 | 36,799.26 | 16,355.72 |
| 2016-03-31 | 8,736.00 | 31,872.70 | 11,146.30 |
| 2015-12-31 | 8,538.47 | 38,888.51 | 19,446.54 |
| 2015-09-30 | 8,578.00 | 30,557.50 | 13,648.40 |
| 2015-06-30 | 8,867.10 | 36,867.81 | 18,741.62 |
| 2015-03-31 | 8,533.00 | 30,184.60 | 15,542.70 |
| 2014-12-31 | 8,075.94 | 38,714.08 | 19,304.62 |
| 2014-09-30 | 8,023.10 | 30,428.90 | 14,235.20 |
| 2014-06-30 | 7,942.67 | 36,846.22 | 19,632.20 |
| 2014-03-31 | 7,621.90 | 33,782.10 | 14,618.30 |
| 2013-12-31 | 7,417.15 | 47,605.10 | 21,875.11 |
| 2013-09-30 | 7,163.80 | 38,693.70 | 15,953.00 |
| 2013-06-30 | 6,948.12 | 46,443.54 | 17,501.99 |
| 2013-03-31 | 7,301.50 | 40,037.00 | 14,878.50 |
| 2012-12-31 | 7,154.46 | 52,032.51 | 20,958.76 |
| 2012-09-30 | 6,792.40 | 42,021.80 | 16,449.40 |
| 2012-06-30 | 6,609.00 | 53,981.92 | 20,180.23 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- Mediobanca Banca di Credito Finanziario has an acceptable proportion of non-loan assets held.
- Mediobanca Banca di Credito Finanziario's liabilities are made up of primarily higher risk sources of funding.
- Mediobanca Banca di Credito Finanziario has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
- Mediobanca Banca di Credito Finanziario's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
- Unable to establish if Mediobanca Banca di Credito Finanziario has a sufficient allowance for bad loans without relevant financial data.
- Mediobanca Banca di Credito Finanziario has a high level of bad loans (greater than 2%).
Financial health checks
We assess Mediobanca Banca di Credito Finanziario's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Mediobanca Banca di Credito Finanziario has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
€2,000 of
Mediobanca Banca di Credito Finanziario
shares you are expected to receive
€106
in your first year as a dividend.
Dividend Amount
- Mediobanca Banca di Credito Finanziario's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (2.11%).
- Mediobanca Banca di Credito Finanziario's dividend is above the markets top 25% of dividend payers in Italy (4.47%).
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.
| 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 9 Analyst Estimates (S&P Global) | See Below |
| Italy Banks Industry Average Dividend Yield | Market Cap Weighted Average of 11 Stocks | 6.3% |
| Italy Market Average Dividend Yield | Market Cap Weighted Average of 186 Stocks | 4.3% |
| Italy Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Italy Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Italy Top 25% Dividend Yield | 75th Percentile | 4.5% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-06-30 | ||
| 2021-06-30 | 0.50 | 7.00 |
| 2020-06-30 | 0.49 | 9.00 |
| 2019-06-30 | 0.47 | 9.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-08-01 | 0.470 | 5.664 |
| 2017-08-04 | 0.370 | 4.032 |
| 2016-10-06 | 0.270 | 3.426 |
| 2016-08-05 | 0.270 | 4.259 |
| 2015-09-23 | 0.250 | 3.551 |
| 2014-10-09 | 0.150 | 1.853 |
| 2014-09-17 | 0.150 | 2.212 |
| 2014-05-09 | 0.000 | 0.000 |
| 2014-05-08 | 0.000 | 0.000 |
| 2014-02-24 | 0.000 | 0.000 |
| 2014-02-19 | 0.000 | 0.000 |
| 2013-10-28 | 0.000 | 0.000 |
| 2013-10-01 | 0.000 | 0.000 |
| 2013-09-17 | 0.000 | 0.000 |
| 2012-09-28 | 0.050 | 1.071 |
| 2012-09-20 | 0.050 | 1.192 |
| 2011-10-10 | 0.170 | 4.314 |
| 2011-09-21 | 0.170 | 2.942 |
| 2011-08-08 | 0.170 | 2.813 |
| 2010-10-29 | 0.170 | 2.384 |
| 2010-10-11 | 0.170 | 2.353 |
| 2010-09-21 | 0.170 | 2.492 |
| 2009-10-09 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Mediobanca Banca di Credito Finanziario has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but Mediobanca Banca di Credito Finanziario only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of
Mediobanca Banca di Credito Finanziario's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (2x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
Income/ dividend checks
We assess Mediobanca Banca di Credito Finanziario's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Mediobanca Banca di Credito Finanziario afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Mediobanca Banca di Credito Finanziario has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | €4,048,531 |
| AGE | 53 |
| TENURE AS CEO | 10.6 years |
CEO Bio
Mr. Alberto Nicola Nagel has been the Chief Executive Officer at Mediobanca Banca di Credito Finanziario S.p.A. since October 2008 and serves as its Co-Head of CIB. Mr. Nagel served as Chief Executive Officer, Managing Director and Head of Investment Banking at Mediobanca Banca di Credito Finanziario S.p.A and served as its General Manager since April 14, 2003. Mr. Nagel served as Joint Director General of Mediobanca since April 7, 2003, which he joined in 1991. He served as a Member of Management Board of Mediobanca Banca di Credito Finanziario S.p.A. (Mediobanca SpA). Mr. Nagel served as Vice Chairman of Assicurazioni Generali SpA from April 2010 to April 04, 2012. He has been a Director of Mediobanca Banca di Credito Finanziario S.p.A. since October 28, 2008. He served as a Director of Assicurazioni Generali SpA until April 4, 2012. He served as Director of Banca Esperia S.p.A. since July 2000. He served as an Auditor of Assicurazioni Generali SpA from 1996 to 2004. Mr. Nagel graduated in Economics and Commerce from Bocconi University.
CEO Compensation
- Alberto's compensation has been consistent with company performance over the past year, both up more than 20%.
- Alberto's remuneration is higher than average for companies of similar size in Italy.
Management Team Tenure
Average tenure and age of the Mediobanca Banca di Credito Finanziario management team in years:
- The average tenure for the Mediobanca Banca di Credito Finanziario management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Alberto Nagel
CEO & Director
€4M
53
10.6 yrs
Francesco Vinci
GM & Director
€3M
56
9 yrs
Emanuele Flappini
Head of Company Financial Reporting
Clemente Rebecchini
Head of the Principal Investing Division and Central Manager
54
9 yrs
Francisco Bachiller
Executive Chairman of Corporate & Investment Banking and Co-Head of CIB
1 yrs
Jessica Spina
Head of Group Investor Relations & Strategic Corporate Development
Antonio Guglielmi
Head of European Equity Research
Adam Bolek
Head of Germany Unit
6.3 yrs
Matteo Maralla
Head of Equity Capital Markets Syndicate
Ulrich Paefgen
Vice Chairman of Strategic Development for Europe
6.3 yrs
Board of Directors Tenure
Average tenure and age of the Mediobanca Banca di Credito Finanziario board of directors in years:
- The tenure for the Mediobanca Banca di Credito Finanziario board of directors is about average.
Board of Directors
Renato Pagliaro
Chairman
€2M
61
9 yrs
Alberto Nagel
CEO & Director
€4M
53
10.6 yrs
Maurizia Comneno
Deputy Chairman of the Board
€225K
70
4.6 yrs
Alberto Pecci
Deputy Chairman of the Board
€154K
75
1.6 yrs
Francesco Vinci
GM & Director
€3M
56
10.6 yrs
Elisabetta Magistretti
Director
€210K
71
7.6 yrs
Natale Freddi
Chairman of Statutory Audit Committee
€133K
66
7.6 yrs
Maurizio Carfagna
Director
€210K
71
4.6 yrs
Maurizio Costa
Director
€130K
70
4.6 yrs
Gabriele Villa
Director
€128K
54
1.6 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Mediobanca Banca di Credito Finanziario insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13. May 19 | Sell | Renato Pagliaro | Individual | 10. May 19 | 10. May 19 | -100,000 | €9.19 | €-916,458 | ||
| 25. Mar 19 | Buy | Maurizio Carfagna | Individual | 14. Mar 19 | 22. Mar 19 | 1,050,000 | €9.29 | €9,462,975 | ||
| 27. Dec 18 | Buy | Maurizio Carfagna | Individual | 21. Dec 18 | 21. Dec 18 | 10,000 | €7.31 | €73,052 | ||
| 05. Dec 18 | Sell | Francesco Vinci | Individual | 30. Nov 18 | 03. Dec 18 | -30,720 | €7.92 | €-237,918 | ||
| 05. Dec 18 | Sell | Gian Sichel | Individual | 30. Nov 18 | 03. Dec 18 | -16,956 | €7.92 | €-131,102 | ||
| 05. Dec 18 | Sell | Alberto Nagel | Individual | 30. Nov 18 | 03. Dec 18 | -49,864 | €7.92 | €-386,095 | ||
Management checks
We assess Mediobanca Banca di Credito Finanziario's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Mediobanca Banca di Credito Finanziario 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
Can We See Significant Institutional Ownership On The Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) Share Register?
If you want to know who really controls Mediobanca Banca di Credito Finanziario S.p.A. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of €8.3b, Mediobanca Banca di Credito Finanziario is rather large.
Simply Wall St - – Full articleIs Now The Time To Look At Buying Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB)?
Mediobanca Banca di Credito Finanziario S.p.A. … As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Today I will analyse the most recent data on Mediobanca Banca di Credito Finanziario’s outlook and valuation to see if the opportunity still exists
Simply Wall St - – Full articleHave Insiders Been Buying Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Mediobanca Banca di Credito Finanziario S.p.A. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … The Last 12 Months Of Insider Transactions At Mediobanca Banca di Credito Finanziario.
Simply Wall St - – Full articleShould You Be Concerned About Mediobanca Banca di Credito Finanziario S.p.A.’s (BIT:MB) Liquidity?
As a small-cap bank stock with a market capitalisation of €7.9b, Mediobanca Banca di Credito Finanziario S.p.A.’s (BIT:MB) risk and profitability are largely determined by the underlying economic growth of the IT regions in which it operates. … High liquidity and low leverage could position Mediobanca Banca di Credito Finanziario favourably at the face of macro headwinds. … See our latest analysis for Mediobanca Banca di Credito Finanziario
Simply Wall St - – Full articleShould You Be Tempted To Sell Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) Because Of Its P/E Ratio?
To keep it practical, we'll show how Mediobanca Banca di Credito Finanziario S.p.A.'s (BIT:MB) P/E ratio could help you assess the value on offer. … Mediobanca Banca di Credito Finanziario has a price to earnings ratio of 8.97, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleIs Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) A Smart Pick For Income Investors?
Historically, Mediobanca Banca di Credito Finanziario S.p.A. … Does Mediobanca Banca di Credito Finanziario tick all the boxes of a great dividend stock? … Check out our latest analysis for Mediobanca Banca di Credito Finanziario
Simply Wall St - – Full articleIs Mediobanca Banca di Credito Finanziario S.p.A.'s (BIT:MB) CEO Pay Justified?
In 2008 Alberto Nagel was appointed CEO of Mediobanca Banca di Credito Finanziario S.p.A. … Check out our latest analysis for Mediobanca Banca di Credito Finanziario? … How Does Alberto Nagel's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleHave Insiders Been Selling Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Mediobanca Banca di Credito Finanziario S.p.A. … Mediobanca Banca di Credito Finanziario Insider Transactions Over The Last Year. … In total, Mediobanca Banca di Credito Finanziario insiders sold more than they bought over the last year
Simply Wall St - – Full articleWhat Makes Mediobanca Banca di Credito Finanziario SpA (BIT:MB) A Hard Investment?
As a small-cap finance stock with a market capitalisation of €6.9b, the risk and profitability of Mediobanca Banca di Credito Finanziario SpA (BIT:MB) are largely tied to the underlying economic growth of the region it operates in IT. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like Mediobanca Banca di Credito Finanziario to vulnerabilities. … High liquidity and low leverage could position Mediobanca Banca di Credito Finanziario favourably at the face of macro headwinds.
Simply Wall St - – Full articleInterested In Mediobanca Banca di Credito Finanziario SpA (BIT:MB)’s Upcoming €0.47 Dividend? You Have 4 Days Left
Investors who want to cash in on Mediobanca Banca di Credito Finanziario SpA's (BIT:MB) upcoming dividend of €0.47 per share have only 4 days left to buy the shares before its ex-dividend date, 19 November 2018, in time for dividends payable on the 21 November 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Mediobanca Banca di Credito Finanziario's latest financial data to analyse its dividend attributes. … See our latest analysis for Mediobanca Banca di Credito Finanziario?
Simply Wall St - – Full articleCompany Info
Description
Mediobanca Banca di Credito Finanziario S.p.A., together with its subsidiaries, provides various banking products and services in Italy and internationally. It operates through five segments: Corporate & Investment Banking, Consumer Banking, Wealth Management, Principal Investing, and Holding Functions. The Corporate & Investment Banking segment offers wholesale banking services, including lending, advisory, capital market, and proprietary trading services; and specialty finance services, such as factoring and credit management, as well as non-performing loans to corporate clients. The Consumer Banking segment provides a range of consumer credit products comprising personal loans and salary-backed finances; asset finance services for cars and motorcycles, consumer electronics, furniture, and travel; payment services that include credit cards; and home insurance products to retail clients. The Wealth Management segment offers asset management and other services to private clients and high net worth individuals, and affluent and premier customers. The Principal Investing segment engages in the equity investment and holding activities. The Holding Functions segment offers leasing and treasury, and asset and liquidity management services. The company was founded in 1946 and is headquartered in Milan, Italy.
Details
| Name: | Mediobanca Banca di Credito Finanziario S.p.A. |
| MB | |
| Exchange: | BIT |
| Founded: | 1946 |
| €7,743,776,551 | |
| 870,087,253 | |
| Website: | http://www.mediobanca.com |
| Address: |
Mediobanca Banca di Credito Finanziario S.p.A. Piazzetta Enrico Cuccia 1, Milan, Milan, 20121, Italy |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| BIT | MB | Ordinary Registered Shares | Borsa Italiana | IT | EUR | 02. Jan 1992 | |
| OTCPK | MDIB.F | Ordinary Registered Shares | Pink Sheets LLC | US | USD | 02. Jan 1992 | |
| DB | ME9 | Ordinary Registered Shares | Deutsche Boerse AG | DE | EUR | 02. Jan 1992 | |
| LSE | 0HBF | Ordinary Registered Shares | London Stock Exchange | GB | EUR | 02. Jan 1992 | |
| WBAG | MB | Ordinary Registered Shares | Wiener Boerse AG | AT | EUR | 02. Jan 1992 | |
| BATS-CHIXE | MBM | Ordinary Registered Shares | BATS 'Chi-X Europe' | GB | EUR | 02. Jan 1992 | |
| OTCPK | MDIB.Y | UNSPONSORED ADR | Pink Sheets LLC | US | USD | 27. Oct 2008 |
Number of employees
Current staff
Industry
| Diversified Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/21 20:54 |
| End of day share price update: | 2019/05/21 00:00 |
| Last estimates confirmation: | 2019/05/20 |
| Last earnings filing: | 2019/05/09 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/06/30 |
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.
