Poste Italiane S.p.A.

BIT-PST

Basic

Market Cap
€15.76B
EV
€3,288.14M
Shares Out
1,295.33M
Revenue
€12.78B
Employees
118,000

Margins

Gross
31.24%
EBITDA
25.99%
Operating
21.31%
Pre-Tax
20.92%
Net
14.72%
FCF
26.26%

Returns (5Yr Avg)

ROA
0.59%
ROTA
16.66%
ROE
15.14%
ROCE
1.38%
ROIC
0.59%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
€13.76
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
€24.17B
Net Debt
-€12.6B
Debt/Equity
1.05
EBIT/Interest
56.73

Growth (CAGR)

Rev 3Yr
-26.06%
Rev 5Yr
-16.36%
Rev 10Yr
-7.24%
Dil EPS 3Yr
11.95%
Dil EPS 5Yr
6.97%
Dil EPS 10Yr
7.33%
Rev Fwd 2Yr
1.67%
EBITDA Fwd 2Yr
3.7%
EPS Fwd 2Yr
2.36%
EPS LT Growth Est
3.17%

Dividends

Yield
—
Payout
55.1%
DPS
€0.8
DPS Growth 3Yr
18.07%
DPS Growth 5Yr
12.65%
DPS Growth 10Yr
7.73%
DPS Growth Fwd 2Yr
11.75%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues						4,156	3,938	4,576	4,798	5,332	5,500
Finance Div. Revenues	—	—	—	—		5,213	5,151	4,931	5,125	5,795	5,773
Insurance Division Revenues	—	—	—	—		23,391	20,930	22,203	1,651	1,492	1,505
Gain (Loss) on Sale of Investment, Total					—	—	—	—	—	—	—
Interest And Invest. Income					—	—	—	—	—	—	—
Other Revenues, Total					—	—	—	—	—	—	—
Total Revenues						32,760	30,019	31,710	11,574	12,619	12,778
Total Revenues % Chg.						10.2%	-8.4%	5.6%	-63.5%	9%	8.1%
Cost of Goods Sold, Total						7,700	7,492	7,953	7,411	8,057	8,224
Finance Div. Operating Exp.	—	—	—	—		79	206	148	187	566	623
Insurance Division Operating Expenses, Total	—	—	—	—		21,722	19,287	20,342	1	-75	-61
Gross Profit						3,259	3,034	3,267	3,975	4,071	3,992
Selling General & Admin Expenses, Total						77	98	124	137	163	171
Provision for Bad Debts	—	—	—			48	48	33	97	39	39
Depreciation & Amortization						778	718	803	773	808	801
Other Operating Expenses						187	109	191	160	280	258
Other Operating Expenses, Total						1,090	973	1,151	1,167	1,290	1,269
Operating Income						2,169	2,061	2,116	2,808	2,781	2,723
Interest Expense, Total						-40	-38	-31	-33	-39	-48
Interest And Investment Income						112	124	126	155	160	160
Net Interest Expenses						72	86	95	122	121	112
Income (Loss) On Equity Invest.						112	5	26	-6	20	22
Currency Exchange Gains (Loss)					—	-1	2	-4	2	—	—
Other Non Operating Income (Expenses)						-32	-39	-16	-57	-40	-36
EBT, Excl. Unusual Items						2,320	2,115	2,217	2,869	2,882	2,821
Restructuring Charges						-387	-436	-235	-76	-171	-167
Impairment of Goodwill	—		—	—		—	—	—	—	—	—
Gain (Loss) On Sale Of Investments						-48	-14	10	-13	4	7
Gain (Loss) On Sale Of Assets		—	—	—		-2	-1	-3	-2	-3	-3
Asset Writedown						4	18	13	4	-3	-3
Legal Settlements						-11	6	-56	-27	22	22
Other Unusual Items						-4	-112	222	-322	-4	-4
EBT, Incl. Unusual Items						1,872	1,576	2,168	2,433	2,727	2,673
Income Tax Expense						530	370	588	850	794	779
Earnings From Continuing Operations						1,342	1,206	1,580	1,583	1,933	1,894
Minority Interest	—	—	—	—	—	—	1	-2	-5	-11	-13
Net Income						1,342	1,207	1,578	1,578	1,922	1,881
Net Income to Common Incl Extra Items						1,342	1,207	1,578	1,578	1,922	1,881
Net Income to Common Excl. Extra Items						1,342	1,207	1,578	1,578	1,922	1,881
Total Shares Outstanding						1,300.9	1,300.9	1,300.9	1,298.6	1,295.4	1,295.4
Weighted Avg. Shares Outstanding						1,300.4	1,302	1,299.8	1,299.8	1,296	1,295.5
Weighted Avg. Shares Outstanding Dil						1,300.4	1,302	1,299.8	1,299.8	1,296	1,295.5
EPS						1	0.9	1.2	1.2	1.5	1.5
EPS Diluted						1	0.9	1.2	1.2	1.5	1.5
EBITDA						2,725	2,548	2,682	3,393	3,388	3,321
Effective Tax Rate						28.3%	23.5%	27.1%	34.9%	29.1%	29.1%