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BMED

Banca Mediolanum BIT:BMED Stock Report

Last Price

€6.40

Market Cap

€4.7b

7D

-0.06%

1Y

-22.0%

Updated

29 Jun, 2022

Data

Company Financials +
BMED fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance4/6
Financial Health3/6
Dividends4/6

BMED Stock Overview

Banca Mediolanum S.p.A. provides various banking products and services in Italy.

Banca Mediolanum Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Banca Mediolanum
Historical stock prices
Current Share Price€6.40
52 Week High€9.89
52 Week Low€5.87
Beta1.63
1 Month Change-13.49%
3 Month Change-17.46%
1 Year Change-21.97%
3 Year Change-3.95%
5 Year Change-11.02%
Change since IPO-12.42%

Recent News & Updates

Apr 08
I Ran A Stock Scan For Earnings Growth And Banca Mediolanum (BIT:BMED) Passed With Ease

I Ran A Stock Scan For Earnings Growth And Banca Mediolanum (BIT:BMED) Passed With Ease

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

BMEDIT Diversified FinancialIT Market
7D-0.06%-0.5%0.6%
1Y-22.0%-14.0%-15.0%

Return vs Industry: BMED underperformed the Italian Diversified Financial industry which returned -12% over the past year.

Return vs Market: BMED underperformed the Italian Market which returned -14.9% over the past year.

Price Volatility

Is BMED's price volatile compared to industry and market?
BMED volatility
BMED Average Weekly Movement4.8%
Diversified Financial Industry Average Movement4.5%
Market Average Movement5.1%
10% most volatile stocks in IT Market7.4%
10% least volatile stocks in IT Market3.4%

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

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

About the Company

FoundedEmployeesCEOWebsite
19823,442Massimo Dorishttps://www.bancamediolanum.it

Banca Mediolanum S.p.A. provides various banking products and services in Italy. The company offers current accounts and mortgages and loans. It also provides debit, credit, and prepaid cards; savings and investment products, such as equities and bonds, as well as trading services; and insurance and pension products and services.

Banca Mediolanum Fundamentals Summary

How do Banca Mediolanum's earnings and revenue compare to its market cap?
BMED fundamental statistics
Market Cap€4.72b
Earnings (TTM)€693.98m
Revenue (TTM)€1.58b

6.8x

P/E Ratio

3.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BMED income statement (TTM)
Revenue€1.58b
Cost of Revenue€4.47m
Gross Profit€1.58b
Other Expenses€886.41m
Earnings€693.98m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.94
Gross Margin99.72%
Net Profit Margin43.79%
Debt/Equity Ratio298.9%

How did BMED perform over the long term?

See historical performance and comparison

Dividends

7.2%

Current Dividend Yield

49%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 BMED?

Other financial metrics that can be useful for relative valuation.

BMED 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 Ratio0.8x

Price to Earnings Ratio vs Peers

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

BMED PE Ratio vs Peers
The above table shows the PE ratio for BMED vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average56x
MIT Mittel
180.2xn/a€104.9m
BGN Banca Generali
12.3x12.8%€3.2b
BFF BFF Bank
27.6x21.4%€1.2b
AZM Azimut Holding
3.9x3.9%€2.4b
BMED Banca Mediolanum
6.8x8.6%€4.7b

Price-To-Earnings vs Peers: BMED is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (56x).


Price to Earnings Ratio vs Industry

How does BMED's PE Ratio compare vs other companies in the European Diversified Financial Industry?

Price-To-Earnings vs Industry: BMED is good value based on its Price-To-Earnings Ratio (6.8x) compared to the Italian Diversified Financial industry average (12.3x)


Price to Earnings Ratio vs Fair Ratio

What is BMED'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.

BMED PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ratio20.3x

Price-To-Earnings vs Fair Ratio: BMED is good value based on its Price-To-Earnings Ratio (6.8x) compared to the estimated Fair Price-To-Earnings Ratio (20.3x).


Share Price vs Fair Value

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

Below Fair Value: BMED (€6.4) is trading above our estimate of fair value (€6.01)

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


Price to Earnings Growth Ratio

PEG Ratio: BMED is good value based on its PEG Ratio (0.8x)


Discover undervalued companies

Future Growth

How is Banca Mediolanum forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


8.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BMED's forecast earnings growth (8.6% per year) is above the savings rate (1.7%).

Earnings vs Market: BMED's earnings (8.6% per year) are forecast to grow slower than the Italian market (10.1% per year).

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

Revenue vs Market: BMED's revenue (10.6% per year) is forecast to grow faster than the Italian market (0.3% per year).

High Growth Revenue: BMED's revenue (10.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BMED's Return on Equity is forecast to be low in 3 years time (18.1%).


Discover growth companies

Past Performance

How has Banca Mediolanum 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


13.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BMED has high quality earnings.

Growing Profit Margin: BMED's current net profit margins (43.8%) are higher than last year (37.8%).


Past Earnings Growth Analysis

Earnings Trend: BMED's earnings have grown by 13.9% per year over the past 5 years.

Accelerating Growth: BMED's earnings growth over the past year (40%) exceeds its 5-year average (13.9% per year).

Earnings vs Industry: BMED earnings growth over the past year (40%) underperformed the Diversified Financial industry 40%.


Return on Equity

High ROE: Whilst BMED's Return on Equity (23.35%) is high, this metric is skewed due to their high level of debt.


Discover strong past performing companies

Financial Health

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

Financial Health Score

3/6

Financial Health Score 3/6

  • 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: BMED's Assets to Equity ratio (24.9x) is very high.

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

Low Risk Liabilities: 56% of BMED's liabilities are made up of primarily low risk sources of funding.

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

Low Risk Deposits: BMED's Loans to Deposits ratio (86%) is appropriate.

Level of Bad Loans: Insufficient data to determine if BMED has an appropriate level of bad loans.


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Dividend

What is Banca Mediolanum 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


7.19%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BMED's dividend (7.19%) is higher than the bottom 25% of dividend payers in the Italian market (1.7%).

High Dividend: BMED's dividend (7.19%) is in the top 25% of dividend payers in the Italian market (5.11%)


Stability and Growth of Payments

Stable Dividend: BMED has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BMED's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (48.8%), BMED's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BMED's dividends in 3 years are forecast to be covered by earnings (73.7% payout ratio).


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Management

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

8.4yrs

Average management tenure


CEO

Massimo Doris (54 yo)

13.92yrs

Tenure

€1,231,727

Compensation

Mr. Massimo Antonio Doris serves as Managing Director and Director of Banca Mediolanum S.p.A. Mr. Doris started his career at Banca Mediolanum in 1999 as Financial Advisor. Previously he was based in Londo...


CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Massimo's total compensation is reasonable compared to companies of similar size in the Italian market.

Compensation vs Earnings: Massimo's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: BMED's management team is seasoned and experienced (8.4 years average tenure).


Board Members

Experienced Board: BMED's board of directors are considered experienced (4.4 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

Banca Mediolanum S.p.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Banca Mediolanum S.p.A.
  • Ticker: BMED
  • Exchange: BIT
  • Founded: 1982
  • Industry: Other Diversified Financial Services
  • Sector: Diversified Financials
  • Implied Market Cap: €4.719b
  • Shares outstanding: 737.11m
  • Website: https://www.bancamediolanum.it

Number of Employees


Location

  • Banca Mediolanum S.p.A.
  • Palazzo Meucci
  • Francesco Sforza street
  • Basiglio
  • Milan
  • 20079
  • Italy

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 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.