Credem CE.MI
ItalyFinancial Services · Banks - RegionalBorsa Italiana · EUR
19.60 EUR (−1.7%)
7 analysts
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Credem (Credito Emiliano) is an Italian regional bank offering commercial banking, retail, and wealth management, with a business model focused on client relationships and a strong presence in northern Italy.
Listed on Borsa Italiana · Symbol CE.MI · BIT: CE · Currency EUR
Key points
from its scores- ✓High-quality business9.3
- ✓Good share-price trend8.8
- ✓Attractive dividend7.8
- ✕Fragile balance sheet4.9
- !Risks to watch5.2
AI analysis
bottom line, main risk, context and newsHold or buy on dips, given its solid quality and growth profile, but with a reduced position due to Italy's governance risk.
Credem shows solid financial health (ROE 12.29%, ROA 0.84%) and an exceptional quality moat (operating margin 52.11%), with revenue growth of 16.5% and earnings growth of 21.9%. Its valuation is reasonable (P/E 12.01) and it offers a net dividend yield of 3.35% with a payout of 45.18%, making it an attractive option within Italian regional banking, although the country's governance risk is a factor to watch.
The main risk is weak governance and minority shareholder protection in Italy, which may affect value distribution to shareholders despite strong fundamentals.
Context and risks
Credem operates in Italy, a country with elevated governance risk and weak minority protection, justifying a penalty on the base risk. Additionally, as a regional bank, its interest margin benefits from a rising rate environment in the eurozone, but the country's institutional quality is the dominant factor.
Is Credem stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 17% below the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 12.0 | 13.7 | −12% |
| Price / book | 1.4 | 1.9 | −22% |
| Price / sales | 3.6 | 3.5 | +3% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.8 out of 10 (median for Financial Services: 5.2).
Average analyst target: 19.60 EUR, −1.7% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 4.9 (sector 5.5), Growth 7.7 (sector 6.9).
Classic formulas with standard assumptions (2.9% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 12.0
- Forward P/E
- 11.7
- Price / book
- 1.4
- Price / sales
- 3.6
- PEG
- 1.11
- Market cap
- 6.8B EUR
- Enterprise value
- 12.9B EUR
Profitability
- ROE
- 12.3%
- ROA
- 0.8%
- ROIC (approx.)
- 7.3%
- Gross margin
- 0.0%
- Operating margin
- 52.1%
- Net margin
- 29.5%
Solvency
- Total debt
- 8.9B EUR
- Net debt
- 6.1B EUR
- Cash
- 2.8B EUR
Growth
- Revenue growth
- +16.5%
- Earnings growth
- +21.9%
- EPS (TTM)
- 1.66 EUR
- EPS (forward)
- 1.71 EUR
Dividend
- Dividend yield
- 3.8%
- Payout
- 45.2%
Risk and market
- Beta
- 0.62
- Analyst consensus
- Hold (7)
- Target price
- 19.60 EUR
- 52-week range
- 12.74 – 21.74
Recent news
All CE.MI news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Credem
Is Credem stock cheap or expensive?
On P/E and Price / book, it trades 17% below the Financial Services median on average. Valuation score: 5.8 out of 10 (median for Financial Services: 5.2). Average analyst target: 19.60 EUR, −1.7% versus the price. This is not investment advice.
What score does Credem get on MeridIAn Screener?
It scores 6.8 out of 10, rank 309 of 2,130 (better than 83% of the companies analysed). Its strongest category is Quality / Moat (9.3) and its weakest, Financial health (4.9). Analysis of 08/10/2026.
What is Credem's P/E ratio?
Its P/E is 12.0: the share price equals 12.0 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 11.7.
How much is Credem worth on the stock market?
Its market capitalisation is 6.8B EUR.
Does Credem pay a dividend?
Yes: its dividend yield is 3.76% and it pays out 45% of its earnings.
How has Credem stock performed over the last year?
It has risen 54.2% over the last year, excluding dividends. Over the last 52 weeks it has traded between 12.74 and 21.74 EUR. Past performance does not guarantee future results.
What do analysts think of Credem?
7 analysts cover it; their average recommendation is “Hold” and their average target is 19.60 EUR (−1.7% versus the price). It is an estimate, not market data.