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Banca Mediolanum

DB:ME1
Snowflake Description

Average dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ME1
DB
€5B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Banca Mediolanum S.p.A. provides various banking products and services in Italy. The last earnings update was 66 days ago. More info.


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ME1 Share Price and Events
7 Day Returns
2.7%
DB:ME1
5%
DE Diversified Financial
2.5%
DE Market
1 Year Returns
29%
DB:ME1
1.4%
DE Diversified Financial
2.6%
DE Market
ME1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Banca Mediolanum (ME1) 2.7% 1.8% 3.8% 29% - -
DE Diversified Financial 5% 7% -5% 1.4% 75.8% 333.8%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • ME1 outperformed the Diversified Financial industry which returned 1.4% over the past year.
  • ME1 outperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
ME1
Industry
5yr Volatility vs Market

Value

 Is Banca Mediolanum undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Banca Mediolanum to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Banca Mediolanum.

DB:ME1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= €3.08 * 19%
€0.59
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. €3.08
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:ME1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 9%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 24%) (161.66%))
0.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.859 * 9.02%)
7.97%

Discounted Cash Flow Calculation for DB:ME1 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Banca Mediolanum is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:ME1 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (19% – 7.97%) * €3.08)
€0.34
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €0.34 / (7.97% - 0.23%)
€4.40
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €3.08 + €4.40
€7.48
DB:ME1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:ME1 represents 0.95898x of BIT:BMED
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.95898x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 7.48 x 0.95898
€7.17
Value per share (EUR) From above. €7.17
Current discount Discount to share price of €6.90
= -1 x (€6.90 - €7.17) / €7.17
3.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Banca Mediolanum is available for.
Intrinsic value
4%
Share price is €6.9 vs Future cash flow value of €7.17
Current Discount Checks
For Banca Mediolanum to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Banca Mediolanum's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Banca Mediolanum's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Banca Mediolanum's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Banca Mediolanum's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:ME1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €0.34
BIT:BMED Share Price ** BIT (2019-10-11) in EUR €7.19
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Banca Mediolanum.

DB:ME1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:BMED Share Price ÷ EPS (both in EUR)

= 7.19 ÷ 0.34

20.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banca Mediolanum is good value based on earnings compared to the DE Diversified Financial industry average.
  • Banca Mediolanum is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Banca Mediolanum's expected growth come at a high price?
Raw Data
DB:ME1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
8.3%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:ME1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.92x ÷ 8.3%

2.51x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banca Mediolanum is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Banca Mediolanum's assets?
Raw Data
DB:ME1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €2.89
BIT:BMED Share Price * BIT (2019-10-11) in EUR €7.19
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:ME1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:BMED Share Price ÷ Book Value per Share (both in EUR)

= 7.19 ÷ 2.89

2.49x

* Primary Listing of Banca Mediolanum.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banca Mediolanum is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess Banca Mediolanum's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Diversified Financial industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Diversified Financial industry average (and greater than 0)? (1 check)
  5. Banca Mediolanum has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Banca Mediolanum expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Banca Mediolanum expected to grow at an attractive rate?
  • Banca Mediolanum's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Banca Mediolanum's earnings growth is positive but not above the Germany market average.
  • Banca Mediolanum's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:ME1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:ME1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 8.3%
DB:ME1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 14.8%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:ME1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:ME1 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,915 433 2
2020-12-31 1,839 410 3
2019-12-31 1,733 403 2
2019-10-12
DB:ME1 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 1,012 305 252
2019-03-31 1,005 268
2018-12-31 987 357 256
2018-09-30 1,031 -105 373
2018-06-30 1,006 278 359
2018-03-31 944 355
2017-12-31 970 275 380
2017-09-30 938 368
2017-06-30 983 -789 420
2017-03-31 1,007 405
2016-12-31 985 -849 394
2016-09-30 1,068 432

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Banca Mediolanum's earnings are expected to grow by 8.3% yearly, however this is not considered high growth (20% yearly).
  • Banca Mediolanum's revenue is expected to grow by 14.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:ME1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Banca Mediolanum Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ME1 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.59 0.65 0.54 6.00
2020-12-31 0.55 0.59 0.52 8.00
2019-12-31 0.58 0.72 0.48 8.00
2019-10-12
DB:ME1 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 0.34
2019-03-31 0.37
2018-12-31 0.35
2018-09-30 0.51
2018-06-30 0.49
2018-03-31 0.48
2017-12-31 0.52
2017-09-30 0.50
2017-06-30 0.57
2017-03-31
2016-12-31 0.53
2016-09-30 0.59

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Banca Mediolanum is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Banca Mediolanum's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Banca Mediolanum has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Banca Mediolanum performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Banca Mediolanum's growth in the last year to its industry (Diversified Financial).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Banca Mediolanum's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Banca Mediolanum's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Banca Mediolanum's 1-year earnings growth is negative, it can't be compared to the Europe Diversified Financial industry average.
Earnings and Revenue History
Banca Mediolanum's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Banca Mediolanum Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ME1 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,011.58 251.71 544.73
2019-03-31 1,004.56 268.32 535.00
2018-12-31 986.53 255.71 536.11
2018-09-30 1,030.97 372.94 526.83
2018-06-30 1,005.63 358.91 533.08
2018-03-31 943.55 354.61 526.60
2017-12-31 970.42 379.95 519.54
2017-09-30 938.37 367.62 531.71
2017-06-30 982.81 419.59 517.65
2017-03-31 1,007.28 405.20 519.61
2016-12-31 984.79 393.53 512.43
2016-09-30 1,067.79 432.24 506.17
2016-06-30 1,014.45 381.52 502.42
2016-03-31 1,009.30 374.41 491.60
2015-12-31 1,102.58 438.61 489.56
2013-12-31 867.73 187.53 347.22
2012-12-31 829.79 188.77 328.86

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Banca Mediolanum has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Banca Mediolanum used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • Unable to establish if Banca Mediolanum improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Banca Mediolanum's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Diversified Financial industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Banca Mediolanum has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Banca Mediolanum's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Banca Mediolanum's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Banca Mediolanum's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Banca Mediolanum's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Banca Mediolanum's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Banca Mediolanum Company Filings, last reported 3 months ago.

DB:ME1 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,102.15 8,449.67 20,702.85
2019-03-31 2,143.09 9,626.80 1,468.96
2018-12-31 2,060.99 5,836.57 955.66
2018-09-30 1,942.03 7,765.28 1,569.92
2018-06-30 1,948.49 6,657.21 1,484.99
2018-03-31 2,272.01 5,524.10 760.31
2017-12-31 2,208.78 1,962.11 628.22
2017-09-30 2,205.64 3,721.39 666.51
2017-06-30 2,131.83 3,543.33 1,380.69
2017-03-31 2,199.29 3,006.54 788.27
2016-12-31 2,150.66 1,961.03 1,544.14
2016-09-30 2,186.45 4,995.10 1,015.94
2016-06-30 2,075.83 6,453.19 1,545.10
2016-03-31 2,131.35 7,437.53 1,314.67
2015-12-31 2,070.14 8,575.27 1,678.85
2013-12-31 1,181.47 6,734.12 874.22
2012-12-31 1,123.74 6,176.88 960.21
  • Banca Mediolanum's level of debt (402%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (512.7% vs 402% today).
  • Debt is not well covered by operating cash flow (3.6%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Banca Mediolanum's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Banca Mediolanum's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Banca Mediolanum has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Banca Mediolanum's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.56%
Current annual income from Banca Mediolanum dividends. Estimated to be 5.88% next year.
If you bought €2,000 of Banca Mediolanum shares you are expected to receive €111 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Banca Mediolanum's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Banca Mediolanum's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:ME1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:ME1 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.43 7.00
2020-12-31 0.42 9.00
2019-12-31 0.42 9.00
2019-10-12
DB:ME1 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-18 0.400 6.158
2019-02-11 0.400 6.644
2018-11-07 0.400 7.685
2018-03-20 0.400 6.596
2018-02-13 0.400 5.527
2017-02-21 0.300 4.183
2016-04-05 0.280 4.247
2016-02-18 0.280 4.185

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Banca Mediolanum has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Banca Mediolanum only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Banca Mediolanum's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Banca Mediolanum's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Banca Mediolanum afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Banca Mediolanum has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Massimo Doris
COMPENSATION €690,606
AGE 52
TENURE AS CEO 11.3 years
CEO Bio

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 London where he worked as sales assistant at UBS, Merrill Lynch and Credit Suisse Financial Products. He then became Marketing Manager in charge of the launch of the Online Banking website. He was subsequently named Head of the Sales Network Training. In October 2003, he took on the position of Italian Network Manager of Banca Mediolanum S.p.A. and was in charge of the Italian Sales Network until September 2005, after which he moved to Barcelona to take on the positions of Chief Executive Officer, General Manager and Head of Development of the Spanish banking group Banco de Finanzas e Inversiones. In July 2008, he returned to Italy as Chief Executive Officer and General Manager of Banca Mediolanum S.p.A. Starting May 2009. He is a Director of Banca Esperia S.p.A.

CEO Compensation
  • Insufficient data for Massimo to compare compensation growth.
  • Massimo's remuneration is lower than average for companies of similar size in Germany.
Management Team

Massimo Doris

TITLE
CEO & Director
COMPENSATION
€691K
AGE
52
TENURE
11.3 yrs

Gianluca Bosisio

TITLE
Managing Director
TENURE
5.8 yrs

Angelo Lietti

TITLE
Financial Reporting Officer

Alessandra Lanzone

TITLE
Head of Investor Relations

Roberto Brega

TITLE
Head of Compliance

Ettore Parlato Spadafora

TITLE
Head of Legal & Compliance Control

Massimo Rotondi

TITLE
Head of Internal Auditing

Luca Rovere

TITLE
Secretary to the Board of Directors

Lisa Maxon

TITLE
Executive of Investor Relations
Board of Directors Tenure

Average tenure and age of the Banca Mediolanum board of directors in years:

4.8
Average Tenure
68
Average Age
  • The tenure for the Banca Mediolanum board of directors is about average.
Board of Directors

Ennio Doris

TITLE
Chairman of the Board
COMPENSATION
€200K
AGE
79

Massimo Doris

TITLE
CEO & Director
COMPENSATION
€691K
AGE
52
TENURE
11.8 yrs

Giovanni Pirovano

TITLE
Executive Deputy Chairman of the Board
COMPENSATION
€445K
AGE
68
TENURE
8.3 yrs

Domenico Magno Fava

TITLE
Chairman of the Board of Statutory Auditors
TENURE
1.8 yrs

Annalisa Doris

TITLE
Director
COMPENSATION
€19K
AGE
49
TENURE
4.8 yrs

Bruno Bianchi

TITLE
Director
COMPENSATION
€57K
AGE
81
TENURE
10.8 yrs

Carlos Javier Tusquets Trías de Bes

TITLE
Director
COMPENSATION
€25K
AGE
68
TENURE
18.8 yrs

Anna Eugenia Omarini

TITLE
Director
TENURE
1.8 yrs

Mario Notari

TITLE
Director
AGE
55
TENURE
1.8 yrs

Francesco Frasca

TITLE
Director
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
11. Jan 19 Buy Lina Tombolato Individual 10. Jan 19 10. Jan 19 50,000 €5.30 €265,190
10. Jan 19 Buy Lina Tombolato Individual 09. Jan 19 09. Jan 19 150,000 €5.36 €803,720
09. Jan 19 Buy Lina Tombolato Individual 08. Jan 19 08. Jan 19 50,000 €5.29 €264,745
08. Jan 19 Buy Lina Tombolato Individual 04. Jan 19 07. Jan 19 200,000 €5.23 €1,033,345
07. Jan 19 Buy Lina Tombolato Individual 02. Jan 19 03. Jan 19 200,000 €5.02 €1,003,053
02. Jan 19 Buy Lina Tombolato Individual 28. Dec 18 28. Dec 18 100,000 €5.05 €501,895
28. Dec 18 Buy Lina Tombolato Individual 27. Dec 18 27. Dec 18 95,602 €4.81 €459,145
28. Dec 18 Buy Lina Tombolato Individual 27. Dec 18 27. Dec 18 50,000 €4.91 €245,280
27. Dec 18 Buy Lina Tombolato Individual 21. Dec 18 21. Dec 18 200,000 €5.03 €992,070
X
Management checks
We assess Banca Mediolanum's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Banca Mediolanum has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Banca Mediolanum S.p.A. provides various banking products and services in Italy. The company offers current accounts; and mortgages and loan products. It also provides credit, debit, and prepaid cards; investment products, such as equities and bonds, as well as trading services; and insurance and pension products and services. The company was founded in 1982 and is based in Basiglio, Italy.

Details
Name: Banca Mediolanum S.p.A.
ME1
Exchange: DB
Founded: 1982
€5,268,606,485
732,768,635
Website: http://www.bancamediolanum.it
Address: Banca Mediolanum S.p.A.
Palazzo Meucci,
Via Francesco Sforza, 15,
Basiglio,
Milan, 20080,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT BMED Ordinary Shares Borsa Italiana IT EUR 30. Dec 2015
OTCPK BNMD.F Ordinary Shares Pink Sheets LLC US USD 30. Dec 2015
DB ME1 Ordinary Shares Deutsche Boerse AG DE EUR 30. Dec 2015
LSE 0RDO Ordinary Shares London Stock Exchange GB EUR 30. Dec 2015
WBAG BMED Ordinary Shares Wiener Boerse AG AT EUR 30. Dec 2015
BATS-CHIXE BMEDM Ordinary Shares BATS 'Chi-X Europe' GB EUR 30. Dec 2015
OTCPK BNCD.Y UNSPONSORED ADR Pink Sheets LLC US USD 30. Mar 2016
Number of employees
Current staff
Staff numbers
0
Banca Mediolanum employees.
Industry
Other Diversified Financial Services
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 23:26
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/04
Last earnings filing: 2019/08/07
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.