OTCPK:MDIB.F

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

Fundamentals

Average 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


Market Performance


7 Day Return

0%

MDIB.F

1.4%

US Banks

1.0%

US Market


1 Year Return

23.9%

MDIB.F

0.2%

US Banks

6.7%

US Market

Return vs Industry: MDIB.F exceeded the US Banks industry which returned 0.2% over the past year.

Return vs Market: MDIB.F exceeded the US Market which returned 6.7% over the past year.


Share holder returns

MDIB.FIndustryMarket
7 Day0%1.4%1.0%
30 Day9.0%-2.6%-1.8%
90 Day4.1%0.8%-1.8%
1 Year23.9%23.9%3.1%0.2%9.1%6.7%
3 Yearn/a52.0%41.5%46.1%36.6%
5 Yearn/a69.7%51.2%66.9%48.6%

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

No news available

Valuation

Is Mediobanca Banca di Credito Finanziario undervalued based on future cash flows and its price relative to the stock market?

10.69x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: MDIB.F ($10.9) is trading above our estimate of fair value ($6.51)

Significantly Undervalued: MDIB.F is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: MDIB.F is good value based on its PE Ratio (10.7x) compared to the Banks industry average (12.5x).

PE vs Market: MDIB.F is good value based on its PE Ratio (10.7x) compared to the US market (17.5x).


Price Based on Expected Growth

Low PEG Ratio: MDIB.F is poor value based on its PEG Ratio (6.8x)


Price Based on Value of Assets

PB vs Industry: MDIB.F is good value based on its PB Ratio (0.9x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Mediobanca Banca di Credito Finanziario expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

1.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: MDIB.F's forecast earnings growth (1.6% per year) is below the savings rate (2.7%).

Earnings vs Market: MDIB.F's earnings (1.6% per year) are forecast to grow slower than the US market (14.5% per year).

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

Revenue vs Market: MDIB.F's revenue (5.8% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: MDIB.F's revenue (5.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: MDIB.F's Return on Equity is forecast to be low in 3 years time (8.8%).


Next Steps

Past Performance

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

12.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MDIB.F's earnings have grown by 12.2% per year over the past 5 years.

Accelerating Growth: MDIB.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MDIB.F had negative earnings growth (-4.7%) over the past year, making it difficult to compare to the Banks industry average (31.8%).


Return on Equity

High ROE: MDIB.F's Return on Equity (8.3%) is considered low.


Return on Assets

ROA vs Industry: MDIB.F's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate MDIB.F's Return on Capital Employed to determine if it has improved over the past 3 years.


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

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

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


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: MDIB.F has a high level of bad loans (4.12%)


Next Steps

Dividend

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

4.83%

Expected Dividend Yield


Dividend Yield vs Market

company4.7%marketbottom25%1.5%markettop25%3.8%industryaverage2.5%forecastin3Years4.8%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: MDIB.F's dividend (4.66%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: MDIB.F's dividend (4.66%) is in the top 25% of dividend payers in the US market (3.77%)

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

Growing Dividend: MDIB.F's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.8%), MDIB.F's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MDIB.F's dividends in 3 years are forecast to be covered by earnings (52.9% payout ratio).


Next Steps

Management

What is the CEO of Mediobanca Banca di Credito Finanziario's salary, the management and board of directors tenure and is there insider trading?

6.7yrs

Average management tenure


CEO

Alberto Nagel (54yo)

11yrs

Tenure

€4,048,531

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: Insufficient data to establish whether Alberto's total compensation is reasonable compared to companies of similar size in the US market.

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


Management Age and Tenure

6.7yrs

Average Tenure

55yo

Average Age

Experienced Management: MDIB.F's management team is seasoned and experienced (6.7 years average tenure).


Board Age and Tenure

6.5yrs

Average Tenure

69yo

Average Age

Experienced Board: MDIB.F's board of directors are considered experienced (6.5 years average tenure).


Insider Trading

Insider Buying: MDIB.F insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Sell€1,005,03402 Aug 19
Renato Pagliaro
EntityIndividual
Role
Chairman of the Board
Chairman
Shares100,000
Max Price€10.05
Buy€603,45304 Jun 19
Maurizio Carfagna
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares65,000
Max Price€9.35
Buy€647,89031 May 19
Maurizio Carfagna
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares68,846
Max Price€9.44
Buy€2,648,30228 May 19
Maurizio Carfagna
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares275,000
Max Price€9.73
Buy€1,483,39524 May 19
Maurizio Carfagna
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares150,000
Max Price€9.93
Buy€1,027,42722 May 19
Maurizio Carfagna
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares103,000
Max Price€10.03
Sell€1,030,30713 May 19
Renato Pagliaro
EntityIndividual
Role
Chairman of the Board
Chairman
Shares100,000
Max Price€10.34
Buy€10,687,79725 Mar 19
Maurizio Carfagna
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,050,000
Max Price€10.49
Buy€83,37427 Dec 18
Maurizio Carfagna
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max Price€8.34
Sell€148,86105 Dec 18
Gian Sichel
EntityIndividual
Shares16,956
Max Price€8.99
Sell€270,14705 Dec 18
Francesco Vinci
EntityIndividual
Role
Member of the Board of Directors
GM & Director
Shares30,720
Max Price€8.99
Sell€438,39605 Dec 18
Alberto Nagel
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares49,864
Max Price€8.99

Ownership Breakdown


Management Team

  • Francisco Bachiller

    Executive Chairman of Corporate & Investment Banking and Co-Head of CIB

    • Tenure: 1.4yrs
  • Ulrich Paefgen

    Vice Chairman of Strategic Development for Europe

    • Tenure: 6.7yrs
  • Alberto Nagel (54yo)

    CEO & Director

    • Tenure: 11yrs
    • Compensation: €4.05m
  • Clemente Rebecchini (55yo)

    Head of the Principal Investing Division and Central Manager

    • Tenure: 9.4yrs
  • Antonio Guglielmi

    Head of CIB Rome & Public Institutions and Head of European Equity Research

    • Tenure: 0yrs
  • Francesco Vinci (57yo)

    GM & Director

    • Tenure: 11yrs
    • Compensation: €3.21m
  • Adam Bolek

    Head of Germany Unit

    • Tenure: 6.7yrs
  • Matteo Maralla

    Head of Equity Capital Markets Syndicate

    • Tenure: 0yrs
  • Jessica Spina

    Head of Group Investor Relations & Strategic Corporate Development

    • Tenure: 0yrs
  • Emanuele Flappini

    Head of Company Financial Reporting

    • Tenure: 0yrs

Board Members

  • Maurizia Comneno (71yo)

    Deputy Chairman of the Board

    • Tenure: 5yrs
    • Compensation: €225.00k
  • Elisabetta Magistretti (72yo)

    Independent Director

    • Tenure: 8yrs
    • Compensation: €209.78k
  • Alberto Pecci (76yo)

    Deputy Chairman of the Board

    • Tenure: 2yrs
    • Compensation: €153.59k
  • Maurizio Costa (71yo)

    Independent Director

    • Tenure: 5yrs
    • Compensation: €129.78k
  • Renato Pagliaro (62yo)

    Chairman

    • Tenure: 9.4yrs
    • Compensation: €2.25m
  • Alberto Nagel (54yo)

    CEO & Director

    • Tenure: 11yrs
    • Compensation: €4.05m
  • Maurizio Carfagna (72yo)

    Independent Director

    • Tenure: 5yrs
    • Compensation: €210.00k
  • Francesco Vinci (57yo)

    GM & Director

    • Tenure: 11yrs
    • Compensation: €3.21m
  • Gabriele Villa (55yo)

    Director

    • Tenure: 2yrs
    • Compensation: €128.06k
  • Natale Freddi (67yo)

    Chairman of Statutory Audit Committee

    • Tenure: 8yrs
    • Compensation: €133.43k

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: MDIB.F
  • Exchange: OTCPK
  • Founded: 1946
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €8.779b
  • Listing Market Cap: €9.701b
  • Shares outstanding: 870.09m
  • 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 & I ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 02:07
End of Day Share Price2019/09/30 00:00
Earnings2019/06/30
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.

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