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INTESA SANPAOLO (ISP.MI) Stock Fundamental Analysis

BIT:ISP - Borsa Italiana Milan - IT0000072618 - Common Stock - Currency: EUR

4.223  -0.03 (-0.68%)

Fundamental Rating

3

ISP gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 98 industry peers in the Banks industry. ISP may be in some trouble as it scores bad on both profitability and health. ISP has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year ISP was profitable.
ISP had a negative operating cash flow in the past year.
Each year in the past 5 years ISP has been profitable.
The reported operating cash flow has been mixed in the past 5 years: ISP reported negative operating cash flow in multiple years.
ISP.MI Yearly Net Income VS EBIT VS OCF VS FCFISP.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20B 40B 60B 80B 100B

1.2 Ratios

ISP has a Return On Assets of 0.88%. This is comparable to the rest of the industry: ISP outperforms 56.82% of its industry peers.
With a decent Return On Equity value of 12.67%, ISP is doing good in the industry, outperforming 63.64% of the companies in the same industry.
Industry RankSector Rank
ROA 0.88%
ROE 12.67%
ROIC N/A
ROA(3y)0.55%
ROA(5y)0.5%
ROE(3y)8.6%
ROE(5y)7.65%
ROIC(3y)N/A
ROIC(5y)N/A
ISP.MI Yearly ROA, ROE, ROICISP.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

ISP has a Profit Margin of 19.19%. This is in the lower half of the industry: ISP underperforms 62.50% of its industry peers.
ISP's Profit Margin has improved in the last couple of years.
ISP does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 19.19%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y31.94%
PM growth 5Y7.65%
GM growth 3YN/A
GM growth 5YN/A
ISP.MI Yearly Profit, Operating, Gross MarginsISP.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

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1

2. Health

2.1 Basic Checks

ISP does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, ISP has less shares outstanding
The number of shares outstanding for ISP has been increased compared to 5 years ago.
Compared to 1 year ago, ISP has a worse debt to assets ratio.
ISP.MI Yearly Shares OutstandingISP.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B
ISP.MI Yearly Total Debt VS Total AssetsISP.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 200B 400B 600B 800B 1T

2.2 Solvency

A Debt/Equity ratio of 1.75 is on the high side and indicates that ISP has dependencies on debt financing.
ISP has a Debt to Equity ratio of 1.75. This is comparable to the rest of the industry: ISP outperforms 54.55% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.75
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC4.85%
ISP.MI Yearly LT Debt VS Equity VS FCFISP.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50B 100B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
ISP.MI Yearly Current Assets VS Current LiabilitesISP.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10B 20B 30B 40B

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4

3. Growth

3.1 Past

ISP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 19.90%, which is quite good.
The Earnings Per Share has been growing by 8.56% on average over the past years. This is quite good.
ISP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.73%.
The Revenue has been growing slightly by 5.69% on average over the past years.
EPS 1Y (TTM)19.9%
EPS 3Y25.15%
EPS 5Y8.56%
EPS Q2Q%-2.44%
Revenue 1Y (TTM)8.73%
Revenue growth 3Y0.87%
Revenue growth 5Y5.69%
Sales Q2Q%4.63%

3.2 Future

Based on estimates for the next years, ISP will show a small growth in Earnings Per Share. The EPS will grow by 2.32% on average per year.
The Revenue is expected to grow by 1.44% on average over the next years.
EPS Next Y24.43%
EPS Next 2Y15.57%
EPS Next 3Y11.2%
EPS Next 5Y2.32%
Revenue Next Year7.21%
Revenue Next 2Y3.27%
Revenue Next 3Y2.37%
Revenue Next 5Y1.44%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ISP.MI Yearly Revenue VS EstimatesISP.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 10B 20B 30B 40B
ISP.MI Yearly EPS VS EstimatesISP.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.1 0.2 0.3 0.4 0.5

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4

4. Valuation

4.1 Price/Earnings Ratio

ISP is valuated reasonably with a Price/Earnings ratio of 8.99.
Compared to the rest of the industry, the Price/Earnings ratio of ISP indicates a slightly more expensive valuation: ISP is more expensive than 67.05% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 28.47. ISP is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 8.07, the valuation of ISP can be described as reasonable.
ISP's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of ISP to the average of the S&P500 Index (92.74), we can say ISP is valued rather cheaply.
Industry RankSector Rank
PE 8.99
Fwd PE 8.07
ISP.MI Price Earnings VS Forward Price EarningsISP.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
ISP.MI Per share dataISP.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 2 3

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.37
PEG (5Y)1.05
EPS Next 2Y15.57%
EPS Next 3Y11.2%

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6

5. Dividend

5.1 Amount

ISP has a Yearly Dividend Yield of 7.63%, which is a nice return.
ISP's Dividend Yield is rather good when compared to the industry average which is at 5.05. ISP pays more dividend than 92.05% of the companies in the same industry.
ISP's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 7.63%

5.2 History

The dividend of ISP has a limited annual growth rate of 2.78%.
Dividend Growth(5Y)2.78%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

65.75% of the earnings are spent on dividend by ISP. This is not a sustainable payout ratio.
ISP's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP65.75%
EPS Next 2Y15.57%
EPS Next 3Y11.2%
ISP.MI Yearly Income VS Free CF VS DividendISP.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20B 40B 60B 80B 100B
ISP.MI Dividend Payout.ISP.MI Dividend Payout, showing the Payout Ratio.ISP.MI Dividend Payout.PayoutRetained Earnings

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INTESA SANPAOLO

BIT:ISP (2/5/2025, 5:35:30 PM)

4.223

-0.03 (-0.68%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-31 2024-10-31/dmh
Earnings (Next)02-04 2025-02-04/amc
Inst Owners33.2%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap75.18B
Analysts82.22
Price Target4.66 (10.35%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.63%
Yearly Dividend0.23
Dividend Growth(5Y)2.78%
DP65.75%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)5.13%
Min EPS beat(2)-1.18%
Max EPS beat(2)11.44%
EPS beat(4)1
Avg EPS beat(4)0.93%
Min EPS beat(4)-3.4%
Max EPS beat(4)11.44%
EPS beat(8)5
Avg EPS beat(8)9.1%
EPS beat(12)9
Avg EPS beat(12)29.37%
EPS beat(16)12
Avg EPS beat(16)37.08%
Revenue beat(2)1
Avg Revenue beat(2)1.09%
Min Revenue beat(2)-0.35%
Max Revenue beat(2)2.53%
Revenue beat(4)2
Avg Revenue beat(4)0.57%
Min Revenue beat(4)-0.35%
Max Revenue beat(4)2.53%
Revenue beat(8)5
Avg Revenue beat(8)16.31%
Revenue beat(12)9
Avg Revenue beat(12)35.91%
Revenue beat(16)13
Avg Revenue beat(16)50.15%
PT rev (1m)0.54%
PT rev (3m)4.11%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.47%
EPS NY rev (3m)0.47%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.03%
Revenue NY rev (1m)1.42%
Revenue NY rev (3m)1.42%
Valuation
Industry RankSector Rank
PE 8.99
Fwd PE 8.07
P/S 1.74
P/FCF N/A
P/OCF N/A
P/B 1.15
P/tB 1.35
EV/EBITDA N/A
EPS(TTM)0.47
EY11.13%
EPS(NY)0.52
Fwd EY12.4%
FCF(TTM)-1.1
FCFYN/A
OCF(TTM)-1.02
OCFYN/A
SpS2.42
BVpS3.67
TBVpS3.13
PEG (NY)0.37
PEG (5Y)1.05
Profitability
Industry RankSector Rank
ROA 0.88%
ROE 12.67%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 19.19%
GM N/A
FCFM N/A
ROA(3y)0.55%
ROA(5y)0.5%
ROE(3y)8.6%
ROE(5y)7.65%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y31.94%
PM growth 5Y7.65%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.75
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 92.47%
Cap/Sales 3.62%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC4.85%
ROIC/WACCN/A
Cap/Depr(3y)109.49%
Cap/Depr(5y)101.89%
Cap/Sales(3y)4.73%
Cap/Sales(5y)4.44%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)19.9%
EPS 3Y25.15%
EPS 5Y8.56%
EPS Q2Q%-2.44%
EPS Next Y24.43%
EPS Next 2Y15.57%
EPS Next 3Y11.2%
EPS Next 5Y2.32%
Revenue 1Y (TTM)8.73%
Revenue growth 3Y0.87%
Revenue growth 5Y5.69%
Sales Q2Q%4.63%
Revenue Next Year7.21%
Revenue Next 2Y3.27%
Revenue Next 3Y2.37%
Revenue Next 5Y1.44%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-358.15%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-283.1%
OCF growth 3YN/A
OCF growth 5YN/A