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Intesa Sanpaolo S.p.A (ISP) Fair Value & Analysis

Financial Services · IT · Market cap €103B

IS Intesa Sanpaolo S.p.A ISP · MI
Price€6.80
Fair Value€6.95
Upside+2.3%
Quality67/100
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Healthy Growth
Highly profitable · 36.8% net margin
High debt · generates free cash flow
6.44% dividend yield
Mixed vs. peers (7/14)
Wide moat 72/100
Evidence: High Range €5.21 – €8.69 Share as image

Fair value as of: Jul 26, 2026

From 24 valuation models · updated 12 days ago

Share price +9.2% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

€6.80 €1.17 Fair Value €6.95 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range €1.17 – €6.80 · fair‑value band €5.21 – €8.69 · the €6.80 price screens below the €6.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

Intesa Sanpaolo S.p.A (ISP) currently trades at €6.80, while our model-based Fair Value estimate is €6.95, implying the stock looks roughly 2.3% fairly valued today. We read business quality at 67/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Intesa Sanpaolo S.p.A generated revenue of €25.7B at a net margin of 36.8%. Revenue grew 6.0% year over year. It earns a return on equity of 14.0%. Net debt stands at €91.1B. Fundamentals as of Jul 26, 2026

Our scenario range runs from €5.21 (bear case) to €8.69 (bull case); at €6.80, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 2%, ISP screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €0.5600 €2.62 80
Residual Income €3.68 €4.51 €8.79 76
Rev-Margin DCF €1.06 74
All 24 models by family
DCF Models
FCF DCF €0.5100 €2.77 38
Owner Earnings €0.6400 €2.92 €6.17 31
5Y Revenue Exit €1.15 39
5Y EBITDA Exit €1.37 €5.15 €9.38 41
5Y P/E Exit €0.8400 €4.24 €7.60 38
10Y Revenue Exit €1.05 36
10Y EBITDA Exit €0.4000 €3.36 €6.93 37
10Y P/E Exit €0.0800 €2.75 €5.66 35
Earnings-Based
Graham-Dodd €3.64 €7.51 €9.48 54
EPV €0.9200 €1.91 €2.78 59
Dividend Discount
Gordon GGM €3.33 €4.93 €6.62 70
DDM Multi-Stage €3.33 €4.73 €6.34 61
Multiples
P/E Multiple €8.02 €10.70 €13.37 63
P/S Multiple €3.07 €4.09 €5.12 58
P/B Multiple €6.82 €9.09 €11.36 55
EV/EBIT €6.03 €9.71 €13.40 53
EV/EBITDA €3.96 €6.96 €9.95 54
EV/Revenue €0.3000 43
Asset-Based
NCAV (Graham) €1.87 €2.51 €3.74 50
Growth DCF
Growth DCF €0.5600 €2.62 80
Rev-Margin DCF €1.06 74
Economic Profit
Residual Income €3.68 €4.51 €8.79 76
ROIC Compounder €0.9200 €1.91 €2.78 72
Growth Earnings
Growth-Adj P/E €5.88 €8.40 €10.91 68

Widest divergence: Multiples (€9.09) versus Growth DCF (€0.5600). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €25.7B
Revenue growth (YoY) +6.0%
Net margin 36.8%
Return on equity 14.0%
Free cash flow €6.6B FY2025
P/E ratio 10.8
More key figures
Operating margin 67.4%
EPS (TTM) €0.5400
Dividend yield 6.7%
EPS growth (YoY) +6.7%
Net debt €91.1B FY2025

Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 55 · Market factors (momentum, volatility) 74

Profitability 37
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 86
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Intesa Sanpaolo S.p.A. engages in the provision of various financial products and services in Italy, Central/Eastern Europe, the Middle East, and North Africa. It operates through six segments: Banca dei Territori, IMI Corporate & Investment Banking, International Banks, Asset Management, Private Banking, and Insurance.

Full company description

Intesa Sanpaolo S.p.A. engages in the provision of various financial products and services in Italy, Central/Eastern Europe, the Middle East, and North Africa. It operates through six segments: Banca dei Territori, IMI Corporate & Investment Banking, International Banks, Asset Management, Private Banking, and Insurance. The company offers lending and deposit products; private and commercial banking, corporate and transaction banking, structured finance, investment banking, public finance, and capital market services; life and non-life insurance and pension products; asset and wealth management services; private investments; and bancassurance products. It also provides industrial loans, leases, and factoring services, as well as digital banking services. The company serves individuals, small and medium-sized businesses, non-profit customers, corporates and financial institutions, public administration, private clients and high net worth individuals, and other customers. Intesa Sanpaolo S.p.A. is headquartered in Turin, Italy.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Intesa Sanpaolo S.p.A reported revenue of €28.5B in FY2025 versus €22.4B in FY2021, a compound +6.2%/yr. Reported net income was €9.3B in FY2025, compounding +22.2%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€28.5B
Latest YoY
+10.4%
Avg. growth/yr (3Y)
+8.3%
Avg. growth/yr (5Y)
+7.5%
Avg. growth/yr (25Y)
−25.6%
Revenue +6.2%/yr
FY21 €22.4B
FY22 €22.5B
FY23 €23.2B
FY24 €25.8B
FY25 €28.5B
Net income +22.2%/yr
FY21 €4.2B
FY22 €4.4B
FY23 €7.7B
FY24 €8.7B
FY25 €9.3B

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Cite: Fair Value Calculator (2026). "Intesa Sanpaolo S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/ISP

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Banks - Regional · 1082 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 68 · Top 25%
Fair Value upside +2% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 1% · Above median
Net margin (TTM) 37% · Above median
Operating margin (TTM) 67% · Top 25%
Revenue growth 6% · Below median
Dividend yield (TTM) 6.4% · Top 25%
Debt / equity 2.06× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than median
P/B 1.81× · Pricier than 75% of peers
P/S (TTM) 4.60× · Pricier than 75% of peers
P/FCF 18.0× · Pricier than 75% of peers
PEG 27.90× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 36 · sector 39
FUTURE 30 · sector 44
PAST 56 · sector 41
HEALTH 0 · sector 85
DIVIDEND 100 · sector 49

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is Intesa Sanpaolo S.p.A (ISP) overvalued or undervalued?
As of Jul 26, 2026, our model estimates a fair value of €6.95 versus a price of €6.80, about +2% (fairly valued).
What is the fair value of ISP?
Our model-based fair value for Intesa Sanpaolo S.p.A is €6.95 (as of Jul 26, 2026), built from audited fundamentals. The current price is €6.80.
What is the quality score of ISP?
Intesa Sanpaolo S.p.A has a Quality Score of 67/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Intesa Sanpaolo S.p.A (ISP)?
Intesa Sanpaolo S.p.A reported trailing-twelve-month revenue of about €25.7B (latest available figure, as of Jul 26, 2026).
What is the net profit margin of ISP?
The net profit margin of Intesa Sanpaolo S.p.A is about 36.8%, meaning it keeps roughly 36.8% of revenue as net income. Based on the latest reported figures.
Does Intesa Sanpaolo S.p.A pay a dividend?
Intesa Sanpaolo S.p.A currently shows a dividend yield of about 6.72% relative to its recent price (as of Jul 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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