CE Stock Analysis: Credito Emiliano S.p.A | MI
Banks - Regional | MI, Italy | Market Cap: 7.271m EUR | 12M Return: 62.1% | IT0003121677 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.35M
EPS Trend: 18.9%
Rev. Trend: 18.9%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 11.6 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.
Credito Emiliano S.p.A. (Credem) is an Italian commercial bank founded in 1910 and headquartered in Reggio Emilia. Through its subsidiaries, it operates across commercial banking, private banking, parabanking, consumer credit, and technology services. Its commercial banking arm distributes financial products to private customers, while its wealth management division manages mutual funds, SICAVs, asset management mandates, private equity funds, and hedge funds.
In addition to core banking, Credem provides leasing (including long-term rental of instrumental, real estate, and naval assets), factoring and trade credit management, insurance intermediation, mortgage brokerage, and salary-secured loan placement. It also offers current accounts, payment cards, collection services, and digital banking products. Customers are served through a network of financial advisors, reflecting the advisor-led retail and SME distribution model that is common among Italian regional banks.
The company is positioned as a mid-cap regional bank within Italys financial sector, with its main customer base spanning retail clients, wealth management clients, and small and medium-sized enterprises (SMEs)-a segment that has traditionally been a focus for Italian regional lenders. Credito Emiliano S.p.A. operates as a subsidiary of Credito Emiliano Holding S.p.A., a holding company structure that is also typical within the Italian banking industry.
- Net interest income pressured by ECB rate cuts and Italian spread compression
- Wealth management fees grow on AUM expansion across mutual and private equity funds
- SME lending volumes expand supporting commercial banking core margin
- Insurance distribution partnership boosts fee income diversification
| Net Income: 562.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 3.29 > 1.0 |
| NWC/Revenue: -1.51k% < 20% (prev -1.24k%; Δ -268.5% < -1%) |
| CFO/TA 0.00 > 3% & CFO 299.1m > Net Income 562.6m |
| Net Debt (6.08b) to EBITDA (964.9m): 6.30 < 3 |
| Current Ratio: 0.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (339.6m) vs 12m ago -0.29% < -2% |
| Gross Margin: 79.68% > 18% (prev 76.19%; Δ 3.49% > 0.5%) |
| Asset Turnover: 4.34% > 50% (prev 4.48%; Δ -0.14% > 0%) |
| Interest Coverage Ratio: 1.58 > 6 (EBIT TTM 850.4m / Interest Expense TTM 538.5m) |
| A: -0.64 (Total Current Assets 827.6m - Total Current Liabilities 44.4b) / Total Assets 68.4b |
| B: 0.06 (Retained Earnings 4.13b / Total Assets 68.4b) |
| C: 0.01 (EBIT TTM 850.4m / Avg Total Assets 66.7b) |
| D: 0.07 (Book Value of Equity 4.72b / Total Liabilities 63.6b) |
| Altman-Z'' = -3.82 = D |
As of October 06, 2026, the stock is trading at EUR 21.04 with a total of 116,199 shares traded. Over the past week, the price has changed by -1.13%, over one month by +1.54%, over three months by +18.80% and over the past year by +62.06%.
Current recommended Stop Loss: 20.40 (which is 3% or 1.5 ATR below the current price).
Credito Emiliano S.p.A has no consensus analysts rating.
P/E Trailing = 12.8795
P/E Forward = 8.7336
P/S = 3.8166
P/B = 1.5179
P/EG = 1.1088
Revenue TTM = 2.90b EUR
EBIT TTM = 850.4m EUR
EBITDA TTM = 964.9m EUR
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 6.91b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.08b EUR (calculated: Debt 6.91b - CCE 827.6m)
Enterprise Value = 13.4b EUR (7.27b + Debt 6.91b - CCE 827.6m)
Interest Coverage Ratio = 1.58 (Ebit TTM 850.4m / Interest Expense TTM 538.5m)
EV/FCF = 53.81x (Enterprise Value 13.4b / FCF TTM 248.1m)
FCF Yield = 1.86% (FCF TTM 248.1m / Enterprise Value 13.4b)
FCF Margin = 8.57% (FCF TTM 248.1m / Revenue TTM 2.90b)
Net Margin = 19.43% (Net Income TTM 562.6m / Revenue TTM 2.90b)
Gross Margin = 79.68% ((Revenue TTM 2.90b - Cost of Revenue TTM 588.3m) / Revenue TTM)
Gross Margin QoQ = 83.56% (prev 68.67%)
Tobins Q-Ratio = 0.20 (Enterprise Value 13.4b / Total Assets 68.4b)
Interest Expense / Debt = 7.80% (Interest Expense 538.5m / Debt 6.91b)
Taxrate = 33.98% (287.8m / 847.1m)
NOPAT = 561.5m (EBIT 850.4m * (1 - 33.98%))
Current Ratio = 0.02 (Total Current Assets 827.6m / Total Current Liabilities 44.4b)
Debt / Equity = 1.46 (Debt 6.91b / totalStockholderEquity, last quarter 4.72b)
Debt / EBITDA = 6.30 (Net Debt 6.08b / EBITDA 964.9m)
Debt / FCF = 24.50 (Net Debt 6.08b / FCF TTM 248.1m)
Total Stockholder Equity = 4.62b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.84% (Net Income 562.6m / Total Assets 68.4b)
RoE = 12.18% (Net Income TTM 562.6m / Total Stockholder Equity 4.62b)
RoCE = 3.55% (EBIT 850.4m / Capital Employed (Total Assets 68.4b - Current Liab 44.4b))
RoIC = 0.82% (NOPAT 561.5m / Invested Capital 68.2b)
WACC = 6.42% (E(7.27b)/V(14.2b) * Re(7.63%) + D(6.91b)/V(14.2b) * Rd(7.80%) * (1-Tc(0.34)))
Discount Rate = 7.63% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 31.03 | Cagr: -0.06%
[DCF] Terminal Value 75.44% ; FCFF base≈248.1m ; Y1≈249.2m ; Y5≈263.9m
[DCF] Fair Price = N/A (negative equity: EV 4.11b - Net Debt 6.08b = -1.98b; debt exceeds intrinsic value)
EPS Correlation: 18.85 | EPS CAGR: 1.72% | SUE: N/A | # QB: 0
Revenue Correlation: 18.88 | Revenue CAGR: 1.45% | SUE: 1.07 | # QB: 1
EPS current Year (2026-12-31): EPS=1.65 | Chg30d=+6.87% | Revisions=+62% | GrowthEPS=+7.4% | GrowthRev=+7.8%
EPS next Year (2027-12-31): EPS=1.71 | Chg30d=+4.46% | Revisions=+62% | GrowthEPS=+3.2% | GrowthRev=+2.9%
[Analyst] Revisions Ratio: +77% (up=10, down=0)