BIT:MB

Stock Analysis Report

Mediobanca Banca di Credito Finanziario

Executive Summary

Mediobanca Banca di Credito Finanziario S.p.A., together with its subsidiaries, provides various banking products and services in Italy and internationally.


Snowflake Analysis

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has Mediobanca Banca di Credito Finanziario's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

9.1%

MB

8.0%

IT Banks

4.6%

IT Market


1 Year Return

-41.7%

MB

-33.9%

IT Banks

-22.0%

IT Market

Return vs Industry: MB underperformed the Italian Banks industry which returned -32.8% over the past year.

Return vs Market: MB underperformed the Italian Market which returned -22.7% over the past year.


Shareholder returns

MBIndustryMarket
7 Day9.1%8.0%4.6%
30 Day-6.7%-10.3%-1.4%
90 Day-44.0%-37.8%-26.2%
1 Year-39.1%-41.7%-30.2%-33.9%-18.6%-22.0%
3 Year-17.7%-28.9%-29.1%-36.1%-6.9%-16.3%
5 Year-19.4%-35.0%-56.2%-72.9%-20.1%-48.5%

Price Volatility Vs. Market

How volatile is Mediobanca Banca di Credito Finanziario's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Mediobanca Banca di Credito Finanziario undervalued compared to its fair value and its price relative to the market?

14.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MB (€5.54) is trading below our estimate of fair value (€6.44)

Significantly Below Fair Value: MB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MB is good value based on its PE Ratio (5.8x) compared to the Banks industry average (6.1x).

PE vs Market: MB is good value based on its PE Ratio (5.8x) compared to the Italian market (13x).


Price to Earnings Growth Ratio

PEG Ratio: MB is poor value based on its PEG Ratio (4.6x)


Price to Book Ratio

PB vs Industry: MB is overvalued based on its PB Ratio (0.5x) compared to the IT Banks industry average (0.4x).


Next Steps

Future Growth

How is Mediobanca Banca di Credito Finanziario forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

1.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MB's forecast earnings growth (1.2% per year) is above the savings rate (1.2%).

Earnings vs Market: MB's earnings (1.2% per year) are forecast to grow slower than the Italian market (11.6% per year).

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

Revenue vs Market: MB's revenue (3% per year) is forecast to grow faster than the Italian market (-0.2% per year).

High Growth Revenue: MB's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MB's Return on Equity is forecast to be low in 3 years time (7.5%).


Next Steps

Past Performance

How has Mediobanca Banca di Credito Finanziario performed over the past 5 years?

10.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MB has high quality earnings.

Growing Profit Margin: MB's current net profit margins (37.3%) are lower than last year (38.5%).


Past Earnings Growth Analysis

Earnings Trend: MB's earnings have grown by 10.1% per year over the past 5 years.

Accelerating Growth: MB's earnings growth over the past year (0.2%) is below its 5-year average (10.1% per year).

Earnings vs Industry: MB earnings growth over the past year (0.2%) underperformed the Banks industry 6.9%.


Return on Equity

High ROE: MB's Return on Equity (8.1%) is considered low.


Next Steps

Financial Health

How is Mediobanca Banca di Credito Finanziario'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


Financial Institutions Analysis

Asset Level: MB's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if MB has a sufficient allowance for bad loans.

Low Risk Liabilities: MB's liabilities are made up of primarily higher risk sources of funding.

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

Low Risk Deposits: MB has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: MB has a high level of bad loans (4.13%)


Next Steps

Dividend

What is Mediobanca Banca di Credito Finanziario's current dividend yield, its reliability and sustainability?

8.48%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MB's dividend (8.48%) is higher than the bottom 25% of dividend payers in the Italian market (2.2%).

High Dividend: MB's dividend (8.48%) is in the top 25% of dividend payers in the Italian market (5.56%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49%), MB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MB's dividends in 3 years are forecast to be covered by earnings (61.3% payout ratio).


Next Steps

Management

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

7.2yrs

Average management tenure


CEO

Alberto Nagel (54yo)

11.5s

Tenure

€3,313,702

Compensation

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 Offi ...


CEO Compensation Analysis

Compensation vs Market: Alberto's total compensation ($USD3.60M) is above average for companies of similar size in the Italian market ($USD2.61M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Alberto Nagel
CEO & Director11.5yrs€3.31m0.32% 15.6m
Francesco Vinci
GM & Director11.5yrs€3.38m0.12% 6.0m
Emanuele Flappini
Head of Company Financial Reportingno datano datano data
Clemente Rebecchini
Head of the Principal Investing Division and Central Manager9.92yrsno datano data
Francisco Bachiller
Executive Chairman of Corporate & Investment Banking and Co-Head of CIB1.92yrsno datano data
Jessica Spina
Head of Group Investor Relations & Strategic Corporate Developmentno datano datano data
Antonio Guglielmi
Head of CIB Rome & Public Institutions and Head of European Equity Researchno datano datano data
Adam Bolek
Head of Germany Unit7.17yrsno datano data
Matteo Maralla
Head of Equity Capital Markets Syndicateno datano datano data
Ulrich Paefgen
Vice Chairman of Strategic Development for Europe7.17yrsno datano data

7.2yrs

Average Tenure

55yo

Average Age

Experienced Management: MB's management team is seasoned and experienced (7.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alberto Nagel
CEO & Director11.5yrs€3.31m0.32% 15.6m
Francesco Vinci
GM & Director11.5yrs€3.38m0.12% 6.0m
Maurizia Comneno
Deputy Chairman of the Board5.5yrs€225.00kno data
Elisabetta Magistretti
Independent Director8.5yrs€220.00kno data
Alberto Pecci
Deputy Chairman of the Board2.5yrs€165.00k0.54% 25.9m
Maurizio Costa
Independent Director5.5yrs€125.00kno data
Renato Pagliaro
Chairman9.92yrs€2.25m0.23% 11.1m
Maurizio Carfagna
Independent Director5.5yrs€220.00k0.27% 13.0m
Gabriele Villa
Independent Director2.5yrs€190.00kno data
Natale Freddi
Chairman of Statutory Audit Committee8.5yrs€133.43kno data

7.0yrs

Average Tenure

69yo

Average Age

Experienced Board: MB's board of directors are considered experienced (7 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Mediobanca Banca di Credito Finanziario S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Mediobanca Banca di Credito Finanziario S.p.A.
  • Ticker: MB
  • Exchange: BIT
  • Founded: 1946
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €4.812b
  • Shares outstanding: 868.31m
  • Website: https://www.mediobanca.com

Number of Employees


Location

  • Mediobanca Banca di Credito Finanziario S.p.A.
  • Piazzetta Enrico Cuccia, 1
  • Milan
  • Milan
  • 20121
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MBBIT (Borsa Italiana)YesOrdinary Registered SharesITEURJan 1992
ME9DB (Deutsche Boerse AG)YesOrdinary Registered SharesDEEURJan 1992
0HBFLSE (London Stock Exchange)YesOrdinary Registered SharesGBEURJan 1992
MDIB.FOTCPK (Pink Sheets LLC)YesOrdinary Registered SharesUSUSDJan 1992
MBMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary Registered SharesGBEURJan 1992
MBWBAG (Wiener Boerse AG)YesOrdinary Registered SharesATEURJan 1992
MDIB.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008

Biography

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 portfolio acquisitions and management. 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 operates treasury and ALM operations. The company was founded in 1946 and is headquartered in Milan, Italy. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/10 01:05
End of Day Share Price2020/04/09 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


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.