UniCredit SpA
UniCredit SpA is a financial institution operating in the banking sector, generating revenue through interest income and fee-based services as indicated by its classification under sector classification Industry: Banks.
Business. UniCredit SpA is a financial institution operating in the banking sector, generating revenue through interest income and fee-based services as indicated by its classification under sector classification Industry: Banks.
Analyst recommendations
20 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
6Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
UniCredit SpA is a financial institution operating in the banking sector, generating revenue through interest income and fee-based services as indicated by its classification under sector classification Industry: Banks.
UniCredit SpA maintains a capital structure characterized by significant leverage, with total liabilities of €802.5 billion against total assets of €870.2 billion. The debt-to-equity ratio stands at 2.94, reflecting the high leverage typical of banking operations where customer deposits constitute a major portion of liabilities. Long-term debt is recorded at €199.1 billion. Liquidity is assessed as medium risk, with a key flag noting that net cash is negative after subtracting total debt. The company generates operating cash flow of €8.5 billion and free cash flow of €5.8 billion, supported by capital expenditures of -€1.3 billion.
Profitability metrics indicate a return on equity (ROE) of 16.12% and a return on assets (ROA) of 1.25%. The company reports net income of €10.9 billion on revenue of €14.1 billion, demonstrating strong earnings conversion. The price-to-earnings ratio is 11.5, and the price-to-book ratio is 1.85, suggesting the market values the equity at a premium to book value. Without cohort median data provided in the input, direct comparative analysis against sector peers is omitted, but the absolute ROE of 16.12% suggests efficient capital utilization.
Segment and geographic revenue mix data is absent from the provided input; therefore, specific concentration risks or regional exposure details cannot be detailed. The analysis relies on aggregate financial figures for the entire entity.
Growth trajectory analysis is limited due to the absence of historical periods data in the input. The current financial snapshot provides a single-period view of revenue and net income, preventing year-over-year or multi-year trend assessment.
Risk assessment highlights medium liquidity risk and low dilution risk. The primary financial flag is the negative net cash position after debt subtraction, which is a structural characteristic of banking balance sheets rather than a traditional corporate liquidity crisis. Dilution risk is low, with basic and diluted shares outstanding being identical at 1.51 billion shares, indicating no significant dilutive securities currently impacting the share count.
Recent observations from investor relations data show a mean analyst price target of €83.11 and a median target of €84.50, with the current market price at €82.97. The mean recommendation is 2.00 (Buy), with 5 strong buys, 10 buys, and 5 holds, indicating positive analyst sentiment. The high price target is €100.00, while the low is €52.00, showing a wide dispersion in analyst expectations.
- UniCredit SpA demonstrates strong profitability with an ROE of 16.12% and net income of €10.9 billion.
- The company trades at a P/E of 11.5 and P/B of 1.85, with analyst consensus suggesting slight upside to the current price.
- Leverage is high with a debt-to-equity ratio of 2.94, consistent with banking industry norms.
- Dilution risk is low, as basic and diluted share counts are identical.
- Liquidity risk is rated medium, primarily due to the structural negative net cash position after debt.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Net income +17,8% YoY.
- ▍Net income +17,8% YoY
Net income +6,3% YoY.
- ▍Net income +6,3% YoY
Revenue €14.13B, −3,7% YoY; Net income +12,3% YoY.
- ▍Revenue €14.13B, −3,7% YoY
- ▍Net income +12,3% YoY
- ▍Free cash flow +37,3% YoY
- ▍Net margin 77.3%
Revenue €14.67B, +2,2% YoY; Net income +2,2% YoY.
- ▍Revenue €14.67B, +2,2% YoY
- ▍Net income +2,2% YoY
- ▍Free cash flow −40,4% YoY
- ▍Net margin 66.2%
Revenue €14.35B, +35,0% YoY; Net income +47,2% YoY.
- ▍Revenue €14.35B, +35,0% YoY
- ▍Net income +47,2% YoY
- ▍Free cash flow +47,7% YoY
- ▍Net margin 66.3%
Revenue €10.62B, +16,9% YoY; Net income +208,1% YoY.
- ▍Revenue €10.62B, +16,9% YoY
- ▍Net income +208,1% YoY
- ▍Free cash flow +205,5% YoY
- ▍Net margin 60.8%
Revenue €9.09B; Net margin 23.1%.
- ▍Revenue €9.09B
- ▍Net margin 23.1%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 7,35 |
| Revenue | —no estimate | —no estimate | 26,0B EUR |
| Operating income | —no estimate | —no estimate | 16,5B EUR |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Market Capmarket_price * shares_outstanding_diluted
- Ev To Revenueenterprise_value / revenue
- Return On Assetsnet_income / total_assets
- Price To Tangible Bookmarket_price / (tangible_book_value / shares_outstanding_diluted)
- Price To Earningsmarket_price / (net_income / shares_outstanding_diluted)
- UniCredit SpA Market data — financials · 2026-07-12
- UniCredit SpA Market data — analyst estimates · 2026-07-12
- UniCredit SpA Market data — ESG · 2026-07-12
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$0M