Company Valuation: Banca Mediolanum S.p.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,392 5,755 6,325 8,472 14,393 16,664 - -
Change - -9.96% 9.89% 33.96% 69.87% 15.78% - -
Enterprise Value (EV) 6,801 4,075 7,635 8,819 15,175 16,664 16,664 16,664
Change - -40.09% 87.36% 15.51% 72.07% 9.81% 0% 0%
P/E 8.99x 11.1x 7.72x 7.67x 11.7x 15.4x 14.6x 14x
PBR 2.22x 1.96x 1.83x 2.1x 3.2x 3.55x 3.25x 3x
PEG - -0.4x 0.1x 0.2x 1.1x -1.3x 2.64x 3.39x
Capitalization / Revenue 3.14x 2.61x 3.55x 2.65x 4x 6.97x 6.58x 6.26x
EV / Revenue 0x 0x 0x 0x 0x 6.97x 6.58x 6.26x
EV / EBITDA 0x 0x 0x 0x 0x 11.2x 10.3x 10x
EV / EBIT 0x 0x 0x 0x 0x 11.1x 10.6x 10.2x
EV / FCF 0x 0x -0x - 0x 15.8x 14.5x 13.8x
FCF Yield 13.3% 38.8% -28.6% - 2.41% 6.35% 6.88% 7.23%
Dividend per Share 2 0.46 0.5 0.7 0.75 1.25 0.8985 0.9512 1.016
Rate of return 5.3% 6.41% 8.2% 6.53% 6.42% 3.99% 4.22% 4.51%
EPS 2 0.965 0.701 1.105 1.498 1.663 1.46 1.541 1.605
Distribution rate 47.7% 71.3% 63.3% 50.1% 75.2% 61.5% 61.7% 63.3%
Net sales 1 2,036 2,208 1,782 3,203 3,598 2,391 2,534 2,663
EBITDA 1 1,343 1,502 1,077 2,362 2,708 1,485 1,620 1,662
EBIT 1 1,304 1,461 1,032 2,320 2,685 1,505 1,578 1,632
Net income 1 713.1 521.8 821.9 1,120 1,238 1,091 1,148 1,199
Net Debt 409.2 -1,681 1,310 346.6 782.5 - - -
Reference price 2 8.68 7.80 8.53 11.49 19.47 22.54 22.54 22.54
Nbr of stocks (in thousands) 736,438 738,063 741,125 737,378 739,219 739,308 - -
Announcement Date 10/02/22 08/02/23 08/02/24 06/02/25 03/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.43x - - 3.99% 19B
14.58x - - 1.88% 896B
13.18x - - 1.99% 422B
5.73x - - 5.41% 375B
12.02x - - 4.28% 335B
18.75x - - 2.27% 293B
5.39x - - 5.65% 284B
12.5x - - 2.15% 268B
5.84x - - 5.36% 263B
14.36x - - 2.76% 246B
Average 11.78x 3.57% 340.13B
Weighted average by Cap. 11.92x 3.23%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Banca Mediolanum S.p.A.