Italmobiliare SPA (ITM) AI Stock Analysis

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Italmobiliare SPA

(Milan:ITM)

Select Model

Rating:57Neutral

Price Target:EUR 27.00▲(5.88% Upside)

Action:reiterated

Date:08/18/26

The score is held back primarily by weak cash generation (low cash conversion and negative free cash flow) and bearish technicals (below major moving averages with negative MACD). These are partly offset by solid revenue/profitability and a manageable balance sheet, plus a supportive valuation with an attractive dividend yield.

Positive Factors

Sustained Revenue GrowthStrong multi-year revenue growth indicates expanding business scale and continued demand across the portfolio. Ongoing TTM expansion provides a durable foundation for earnings, although future returns will depend on maintaining growth without further margin deterioration.

Negative Factors

Weak Cash ConversionLow operating cash flow relative to earnings raises questions about the quality and timing of profit conversion. Persistent weak cash conversion can constrain distributions, acquisitions and reinvestment, making the holding company more dependent on asset sales or financing.

Italmobiliare SPA (ITM) vs. iShares MSCI Italy ETF (EWI)

Market Cap: EUR 1.08B
Dividend Yield: 4.31%
Average Volume (3M): 16.22K
Price to Earnings (P/E): 17.5
Beta (1Y): 0.76
Revenue Growth: 8.04%
EPS Growth: 90.97%
Country: Italy
Employees: 1,927
Sector: General
Sector Strength: 55
Industry: Packaged Foods

Italmobiliare SPA Business Overview & Revenue Model

Company Description

Italmobiliare S.p.A., an investment holding firm established in Milan, Italy, in 1946, strategically manages a diverse portfolio of equity and other financial interests. These investments span various industrial and financial sectors, with activities...

How the Company Makes Money

Italmobiliare makes money primarily through returns generated by its investment portfolio. Key earnings and cash-flow sources typically include: (1) dividends received from its operating subsidiaries and associate companies; (2) capital gains (or los...

Italmobiliare SPA Financial Statement Overview

Summary

Income statement and balance sheet are solid (Income Statement 72: strong multi-year revenue growth with still-decent TTM margins; Balance Sheet 74: manageable leverage and positive ROE), but cash flow is a major constraint (Cash Flow 29: weak cash conversion and persistently negative free cash flow, including TTM), which meaningfully raises financial risk.

Income Statement

72Positive

Balance Sheet

74Positive

Cash Flow

29Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.18B	778.47M	705.35M	590.95M	488.02M	492.23M
Gross Profit	316.21M	331.79M	447.01M	368.74M	287.38M	200.68M
EBITDA	223.30M	171.32M	201.26M	178.76M	120.66M	180.60M
Net Income	95.22M	55.72M	93.64M	66.60M	21.05M	139.68M
Balance Sheet
Total Assets	2.50B	2.54B	2.50B	2.46B	2.25B	2.26B
Cash, Cash Equivalents and Short-Term Investments	110.92M	293.69M	347.57M	292.80M	264.11M	520.11M
Total Debt	594.76M	573.32M	504.53M	379.15M	302.59M	164.45M
Total Liabilities	866.56M	850.19M	769.64M	602.38M	513.36M	407.35M
Stockholders Equity	1.44B	1.50B	1.53B	1.65B	1.54B	1.65B
Cash Flow
Free Cash Flow	-106.58M	-49.74M	-53.11M	-4.38M	-121.37M	29.32M
Operating Cash Flow	14.95M	19.42M	18.20M	71.46M	-78.01M	71.96M
Investing Cash Flow	-141.62M	-24.73M	3.30M	-42.27M	-17.98M	-12.94M
Financing Cash Flow	45.60M	12.84M	-2.71M	-8.11M	63.78M	-47.39M

Italmobiliare SPA Technical Analysis

Technical Analysis SentimentPositive

Last Price25.50

Price Trends

50DMA25.11Positive

100DMA26.34Negative

200DMA26.83Negative

Market Momentum

MACD0.10Negative

RSI58.86Neutral

STOCH77.48Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ITM, the sentiment is Positive. The current price of 25.50 is above the 20-day moving average (MA) of 24.92, above the 50-day MA of 25.11, and below the 200-day MA of 26.83, indicating a neutral trend. The MACD of 0.10 indicates Negative momentum. The RSI at 58.86 is Neutral, neither overbought nor oversold. The STOCH value of 77.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:ITM.

Italmobiliare SPA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IT:ITM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IT:ITM	57Neutral	EUR 1.08B	17.46	6.48%	4.31%	8.04%	90.97%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IT:IMS	52Neutral	EUR 195.46M	-60.42	-1.67%	―	-0.75%	3.70%
IT:CIR	51Neutral	EUR 694.37M	20.00	4.31%	―	-0.15%	-21.37%
IT:TIP	49Neutral	EUR 1.54B	1948.94	0.03%	2.84%	353.02%	-99.52%

* General Sector Average

Performance Comparison

IT:ITM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IT:ITM	Italmobiliare SPA	25.50	-1.92	-7.01%
IT:CALT	Caltagirone SPA	9.88	1.19	13.75%
IT:CIR	Cir S.P.A. - Compagnie Industriali Riunite	0.76	0.07	9.67%
IT:IMS	IMMSI SPA	0.57	0.03	6.37%
IT:KME	Intek Group S.p.A. (0MB2)	0.87	-0.01	-1.14%
IT:TIP	Tamburi Investment Partners Spa	9.16	0.95	11.60%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 18, 2026

Italmobiliare SPA AI Stock Analysis