illimity Bank (BIT:ILTY) - Share price, News & Analysis

ILTY fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	5/6
Past Performance	4/6
Financial Health	4/6
Dividends	0/6

ILTY Stock Overview

illimity Bank S.p.A. provides private banking, and investment and trading services in Italy.

Rewards

PE ratio (13.3x) is below the Italian market (17.3x)

Earnings are forecast to grow 34.82% per year

Earnings have grown 71.7% per year over the past 5 years

Risk Analysis

Shareholders have been diluted in the past year

illimity Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for illimity Bank
Historical stock prices
Current Share Price	€11.45
52 Week High	€14.25
52 Week Low	€9.77
Beta	1.06
1 Month Change	-8.55%
3 Month Change	-12.86%
1 Year Change	17.68%
3 Year Change	37.95%
5 Year Change	n/a
Change since IPO	56.85%

Shareholder Returns

	ILTY	IT Diversified Financial	IT Market
7D	-3.8%	1.3%	0.7%
1Y	17.7%	-4.4%	-5.5%

Return vs Industry: ILTY exceeded the Italian Diversified Financial industry which returned -4.4% over the past year.

Return vs Market: ILTY exceeded the Italian Market which returned -5.5% over the past year.

Price Volatility

Is ILTY's price volatile compared to industry and market?
ILTY volatility
ILTY Average Weekly Movement	4.4%
Diversified Financial Industry Average Movement	6.4%
Market Average Movement	6.2%
10% most volatile stocks in IT Market	8.6%
10% least volatile stocks in IT Market	4.0%

Stable Share Price: ILTY is less volatile than 75% of Italian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ILTY's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
n/a	725	Corrado Passera	https://www.illimity.com

illimity Bank S.p.A. provides private banking, and investment and trading services in Italy. The company operates through Growth Credit, Distressed Credit, and Direct Banking divisions. The Growth Credit division is involved in the financing of the supply chains of the operators of Italian chains and industrial districts through the activity of recourse and non-recourse purchasing of customers' trade receivables; and financing to businesses; and financing solutions for acquisition activities.

illimity Bank Fundamentals Summary

How do illimity Bank's earnings and revenue compare to its market cap?
ILTY fundamental statistics
Market Cap	€907.99m
Earnings (TTM)	€68.44m
Revenue (TTM)	€251.91m

13.3x

P/E Ratio

3.6x

P/S Ratio

Is ILTY overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ILTY income statement (TTM)
Revenue	€251.91m
Cost of Revenue	€0
Gross Profit	€251.91m
Other Expenses	€183.48m
Earnings	€68.44m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 02, 2022

Earnings per share (EPS)	0.86
Gross Margin	100.00%
Net Profit Margin	27.17%
Debt/Equity Ratio	118.0%

How did ILTY perform over the long term?

See historical performance and comparison

Valuation

Is illimity Bank undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

13.27x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: ILTY (€11.45) is trading above our estimate of fair value (€7.15)

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

Price To Earnings Ratio

PE vs Industry: ILTY is poor value based on its PE Ratio (13.3x) compared to the Italian Diversified Financial industry average (11.5x).

PE vs Market: ILTY is good value based on its PE Ratio (13.3x) compared to the Italian market (17.3x).

Price to Earnings Growth Ratio

PEG Ratio: ILTY is good value based on its PEG Ratio (0.4x)

Price to Book Ratio

PB vs Industry: ILTY is overvalued based on its PB Ratio (1.2x) compared to the IT Diversified Financial industry average (1x).

Future Growth

How is illimity Bank forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

34.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ILTY's forecast earnings growth (34.8% per year) is above the savings rate (1.7%).

Earnings vs Market: ILTY's earnings (34.8% per year) are forecast to grow faster than the Italian market (9.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ILTY's revenue (25.5% per year) is forecast to grow faster than the Italian market (-0.03% per year).

High Growth Revenue: ILTY's revenue (25.5% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ILTY's Return on Equity is forecast to be low in 3 years time (19.3%).

Past Performance

How has illimity Bank 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

71.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ILTY has high quality earnings.

Growing Profit Margin: ILTY's current net profit margins (27.2%) are higher than last year (20.8%).

Past Earnings Growth Analysis

Earnings Trend: ILTY's earnings have grown significantly by 71.7% per year over the past 5 years.

Accelerating Growth: ILTY's earnings growth over the past year (74.8%) exceeds its 5-year average (71.7% per year).

Earnings vs Industry: ILTY earnings growth over the past year (74.8%) underperformed the Diversified Financial industry 74.8%.

Return on Equity

High ROE: ILTY's Return on Equity (8.8%) is considered low.

Financial Health

How is illimity Bank'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: ILTY's Assets to Equity ratio (6.3x) is low.

Allowance for Bad Loans: ILTY has a low allowance for bad loans (3%).

Low Risk Liabilities: 74% of ILTY's liabilities are made up of primarily low risk sources of funding.

Loan Level: ILTY has an appropriate level of Loans to Assets ratio (58%).

Low Risk Deposits: ILTY's Loans to Deposits ratio (92%) is appropriate.

Level of Bad Loans: ILTY has a high level of bad loans (36.3%).

Dividend

What is illimity Bank current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

3.92%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate ILTY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ILTY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ILTY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ILTY's dividend payments have been increasing.

Current Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ILTY's dividend in 3 years as they are not forecast to pay a notable one for the Italian market.

Discover strong dividend paying companies

Management

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

1.3yrs

Average board tenure

CEO

Corrado Passera

no data

Tenure

Mr. Corrado Passera serves as Chief Executive Officer and Director of illimity Bank SpA (formerly known as Banca Interprovinciale SpA).

Board Members

Experienced Board: ILTY's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.

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 been diluted in the past year, with total shares outstanding growing by 8%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31