BAMI Stock Analysis: Banco Bpm | MI
Banks - Regional | MI, Italy | Market Cap: 24.689m EUR | 12M Return: 27.8% | IT0005218380 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 72.8M
Qual. Beats: 0
Rev. Trend: 32.3%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Banco BPM S.p.A. (BAMI) is a large-cap Italian bank headquartered in Verona, offering a full suite of retail, corporate, and investment banking products across six operating segments: Commercial Banking, Corporate and Investment Banking, Asset Management and Insurance, Other Partnerships, Finance, and Corporate Centre. Its retail offerings span current accounts, mortgages, personal and salary-backed loans, credit/debit/prepaid cards, and insurance products, while its corporate and investment banking arm provides financing, leasing, trade finance, foreign exchange and interest rate hedging, capital markets, and M&A advisory services. The company was formed through the 2017 merger of Banco Popolare and Banca Popolare di Milano, and is listed on the Milan Stock Exchange.
As a diversified bank, Banco BPM follows the universal banking model that remains prevalent in Italy, where bank-based intermediation still accounts for the majority of household financial assets and corporate funding. Its multi-segment structure mirrors the consolidation trend in Italian banking, where large groups have expanded fee-generating businesses such as asset management, insurance distribution, and investment banking to diversify away from traditional net interest income.
- Net interest income expands as ECB pauses rate cuts
- UniCredit takeover bid collapse preserves bank independence
- Italian BTP exposure pressures capital and profit margins
| Net Income: 2.23b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.13 > 1.0 |
| NWC/Revenue: 18.20% < 20% (prev -2.18k%; Δ 2.20k% < -1%) |
| CFO/TA 0.02 > 3% & CFO 4.88b > Net Income 2.23b |
| Net Debt (29.0b) to EBITDA (4.39b): 6.59 < 3 |
| Current Ratio: 5.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.53b) vs 12m ago 1.59% < -2% |
| Gross Margin: 77.98% > 18% (prev 36.60%; Δ 41.38% > 0.5%) |
| Asset Turnover: 5.89% > 50% (prev 2.62%; Δ 3.27% > 0%) |
| Interest Coverage Ratio: 1.79 > 6 (EBIT TTM 4.24b / Interest Expense TTM 2.37b) |
| A: 0.01 (Total Current Assets 2.81b - Total Current Liabilities 552.0m) / Total Assets 211b |
| B: 0.03 (Retained Earnings 6.01b / Total Assets 211b) |
| C: 0.02 (EBIT TTM 4.24b / Avg Total Assets 211b) |
| D: 0.08 (Book Value of Equity 15.6b / Total Liabilities 195b) |
| Altman-Z'' = 0.38 = B |
As of October 06, 2026, the stock is trading at EUR 15.27 with a total of 2,639,736 shares traded. Over the past week, the price has changed by -6.83%, over one month by -5.45%, over three months by -2.46% and over the past year by +27.83%.
Current recommended Stop Loss: 14.70 (which is 3.7% or 1.5 ATR below the current price).
Banco Bpm has no consensus analysts rating.
P/E Trailing = 12.9134
P/E Forward = 7.0028
P/S = 4.6291
P/B = 1.5504
P/EG = 1.8108
Revenue TTM = 12.4b EUR
EBIT TTM = 4.24b EUR
EBITDA TTM = 4.39b EUR
Long Term Debt = 25.3b EUR (from longTermDebt, last fiscal year)
Short Term Debt = unknown (none)
Debt = 31.8b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 29.0b EUR (calculated: Debt 31.8b - CCE 2.81b)
Enterprise Value = 53.7b EUR (24.7b + Debt 31.8b - CCE 2.81b)
Interest Coverage Ratio = 1.79 (Ebit TTM 4.24b / Interest Expense TTM 2.37b)
EV/FCF = 11.21x (Enterprise Value 53.7b / FCF TTM 4.79b)
FCF Yield = 8.92% (FCF TTM 4.79b / Enterprise Value 53.7b)
FCF Margin = 38.52% (FCF TTM 4.79b / Revenue TTM 12.4b)
Net Margin = 17.93% (Net Income TTM 2.23b / Revenue TTM 12.4b)
Gross Margin = 77.98% ((Revenue TTM 12.4b - Cost of Revenue TTM 2.74b) / Revenue TTM)
Gross Margin QoQ = 73.29% (prev none%)
Tobins Q-Ratio = 0.25 (Enterprise Value 53.7b / Total Assets 211b)
Interest Expense / Debt = 7.46% (Interest Expense 2.37b / Debt 31.8b)
Taxrate = 34.14% (1.42b / 4.17b)
NOPAT = 2.79b (EBIT 4.24b * (1 - 34.14%))
Current Ratio = 5.10 (Total Current Assets 2.81b / Total Current Liabilities 552.0m)
Debt / Equity = 2.03 (Debt 31.8b / totalStockholderEquity, last quarter 15.6b)
Debt / EBITDA = 6.59 (Net Debt 29.0b / EBITDA 4.39b)
Debt / FCF = 6.05 (Net Debt 29.0b / FCF TTM 4.79b)
Total Stockholder Equity = 15.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.06% (Net Income 2.23b / Total Assets 211b)
RoE = 14.34% (Net Income TTM 2.23b / Total Stockholder Equity 15.5b)
RoCE = 10.37% (EBIT 4.24b / Capital Employed (Equity 15.5b + L.T.Debt 25.3b))
RoIC = 1.33% (NOPAT 2.79b / Invested Capital 210b)
WACC = 5.90% (E(24.7b)/V(56.5b) * Re(7.17%) + D(31.8b)/V(56.5b) * Rd(7.46%) * (1-Tc(0.34)))
Discount Rate = 7.17% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -25.66 | Cagr: 0.53%
[DCF] Terminal Value 74.68% ; FCFF base≈4.89b ; Y1≈4.69b ; Y5≈4.53b
[DCF] Fair Price = 28.07 (EV 71.2b - Net Debt 29.0b = Equity 42.3b / Shares 1.51b; r=8.35% [WACC [floored]]; 5y FCF grow -5.39% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.39 | # QB: 0
Revenue Correlation: 32.33 | Revenue CAGR: 11.00% | SUE: 1.76 | # QB: 1
EPS current Quarter (2025-06-30): EPS=0.36 | Chg30d=+17.76% | Revisions=+40% | Analysts=2
EPS next Quarter (2025-09-30): EPS=0.26 | Chg30d=+2.48% | Revisions=-25% | Analysts=3
EPS current Year (2025-12-31): EPS=1.21 | Chg30d=+0.28% | Revisions=+0% | GrowthEPS=+8.0% | GrowthRev=+4.3%
EPS next Year (2026-12-31): EPS=1.33 | Chg30d=-0.52% | Revisions=+79% | GrowthEPS=+7.5% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: +48% (up=17, down=5)