BIT:PST

Stock Analysis Report

Executive Summary

Poste Italiane SpA provides postal, logistics, and financial and insurance products and services in Italy.

Snowflake

Fundamentals

Proven track record second-rate dividend payer.


Similar Companies

Share Price & News

How has Poste Italiane's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PST has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.1%

PST

2.3%

IT Insurance

0.8%

IT Market


1 Year Return

59.4%

PST

38.3%

IT Insurance

17.3%

IT Market

Return vs Industry: PST exceeded the Italian Insurance industry which returned 38.3% over the past year.

Return vs Market: PST exceeded the Italian Market which returned 17.3% over the past year.


Shareholder returns

PSTIndustryMarket
7 Day-1.1%2.3%0.8%
30 Day3.7%5.5%5.2%
90 Day17.8%17.9%11.9%
1 Year67.1%59.4%45.8%38.3%22.7%17.3%
3 Year116.2%83.1%93.2%63.9%37.7%17.7%
5 Yearn/a54.6%18.5%28.3%-21.5%

Price Volatility Vs. Market

How volatile is Poste Italiane's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Poste Italiane undervalued compared to its fair value and its price relative to the market?

10.02x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PST (€10.97) is trading above our estimate of fair value (€9.15)

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


Price To Earnings Ratio

PE vs Industry: PST is good value based on its PE Ratio (10x) compared to the Insurance industry average (11.2x).

PE vs Market: PST is good value based on its PE Ratio (10x) compared to the Italian market (17.4x).


Price to Earnings Growth Ratio

PEG Ratio: PST is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: PST is overvalued based on its PB Ratio (1.4x) compared to the IT Insurance industry average (1.2x).


Next Steps

Future Growth

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

3.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PST's forecast earnings growth (3% per year) is above the savings rate (2.9%).

Earnings vs Market: PST's earnings (3% per year) are forecast to grow slower than the Italian market (8.8% per year).

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

Revenue vs Market: PST's revenue is expected to decline over the next 3 years (-7.4% per year).

High Growth Revenue: PST's revenue is forecast to decline over the next 3 years (-7.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PST's Return on Equity is forecast to be low in 3 years time (10.9%).


Next Steps

Past Performance

How has Poste Italiane performed over the past 5 years?

25.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PST has large one-off items impacting its financial results.

Growing Profit Margin: PST's current net profit margins (4.4%) are higher than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: PST's earnings have grown significantly by 25.9% per year over the past 5 years.

Accelerating Growth: PST's earnings growth over the past year (39.7%) exceeds its 5-year average (25.9% per year).

Earnings vs Industry: PST earnings growth over the past year (39.7%) exceeded the Insurance industry 9.2%.


Return on Equity

High ROE: PST's Return on Equity (13.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Poste Italiane'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

Inventory Level: PST has a low level of unsold assets or inventory.

Debt Coverage by Assets: PST's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

Asset Level: PST's level of assets compared to its equity is very high.

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

Low Risk Liabilities: PST reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if PST has an acceptable proportion of non-loan assets held.

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

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


Next Steps

Dividend

What is Poste Italiane's current dividend yield, its reliability and sustainability?

2.81%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Poste Italiane before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company2.8%marketbottom25%2.0%markettop25%4.4%industryaverage4.2%forecastin3Years4.7%

Current dividend yield vs market & industry

Notable Dividend: PST's dividend (2.81%) is higher than the bottom 25% of dividend payers in the Italian market (1.98%).

High Dividend: PST's dividend (2.81%) is low compared to the top 25% of dividend payers in the Italian market (4.37%).


Stability and Growth of Payments

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

Growing Dividend: PST has only been paying a dividend for 4 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.3%), PST's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PST's dividends in 3 years are forecast to be covered by earnings (56.3% payout ratio).


Next Steps

Management

What is the CEO of Poste Italiane's salary, the management and board of directors tenure and is there insider trading?

4.2yrs

Average management tenure


CEO

Matteo Del Fante (52yo)

2.6yrs

Tenure

0

Dr. Matteo Del Fante has been Chief Executive Officer, General Manager and Director at Poste Italiane SpA since April 27, 2017. He has been Chief Executive Officer, Managing Director and Director at Poste  ...


Management Age and Tenure

4.2yrs

Average Tenure

57yo

Average Age

Experienced Management: PST's management team is considered experienced (4.2 years average tenure).


Board Age and Tenure

2.6yrs

Average Tenure

54yo

Average Age

Experienced Board: PST's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Insider Trading

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.


Management Team

  • Massimo Rosini (57yo)

    Head of the Mail Communications & Logistics Department

    • Tenure: 3.6yrs
  • Matteo Del Fante (52yo)

    CEO, GM & Director

    • Tenure: 2.6yrs
  • Manlio Caporali (67yo)

    Head of Purchasing

    • Tenure: 12.8yrs
  • Antonio Nervi (65yo)

    Head of Investment Governance

    • Tenure: 5yrs
  • Guido Nola (47yo)

    Chief Financial Officer

    • Tenure: 1.3yrs
  • Paolo Casati (51yo)

    Head of Internal Audit & Member of Supervisory Board

    • Tenure: 0yrs
  • Paolo Bruschi (64yo)

    Vice GM-HR & Organization

    • Tenure: 3.4yrs
  • Giuseppe Cannizzaro

    Head of Legal and Corporate Affairs

    • Tenure: 0yrs
  • Anna Sassano (65yo)

    Head of Digital Architecture & Services - Public Administration

    • Tenure: 4.8yrs
  • Giuseppe Dallona (57yo)

    Head of Information Technology Systems

    • Tenure: 4.8yrs

Board Members

  • Matteo Del Fante (52yo)

    CEO, GM & Director

    • Tenure: 2.6yrs
  • Mauro Lonardo (50yo)

    Chairman of the Board of Statutory Auditors

    • Tenure: 3.5yrs
  • Carlo Cerami (54yo)

    Director

    • Tenure: 2.6yrs
  • Farina Flour (78yo)

    Chairwoman

    • Tenure: 2.6yrs
  • Roberto Rao (51yo)

    Director

    • Tenure: 5.5yrs
    • Compensation: €52.80k
  • Giovanni Azzone (57yo)

    Director

    • Tenure: 3.5yrs
  • Mimi Kung (54yo)

    Director

    • Tenure: 3.5yrs
  • Antonella Guglielmetti

    Director

    • Tenure: 2.6yrs
  • Francesca Isgrò

    Director

    • Tenure: 2.6yrs
  • Roberto Rossi

    Director

    • Tenure: 2.6yrs

Company Information

Poste Italiane SpA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Poste Italiane SpA
  • Ticker: PST
  • Exchange: BIT
  • Founded:
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: €14.270b
  • Shares outstanding: 1.30b
  • Website: https://www.posteitaliane.it

Number of Employees


Location

  • Poste Italiane SpA
  • Viale Europa, 190
  • Rome
  • Rome
  • 144
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PSTBIT (Borsa Italiana)YesOrdinary SharesITEUROct 2015
7PIDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2015
PSTMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 2015
0RC2LSE (London Stock Exchange)YesOrdinary SharesGBEUROct 2015
PSTWBAG (Wiener Boerse AG)YesOrdinary SharesATEUROct 2015

Biography

Poste Italiane SpA provides postal, logistics, and financial and insurance products and services in Italy. It operates through four segments: Mail, Parcels and Distribution; Payments, Mobile and Digital; F ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/11 21:37
End of Day Share Price2019/11/11 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.