Banca Generali S.p.A. (BGN) Fair Value & Analysis
Financial Services · IT · Market cap €7.7B · ISIN IT0001031084
What is Banca Generali S.p.A. really worth?
Below-average quality, and trading another 96% above our fair value of €33.60.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 6 valuation models · updated 6 days ago
Fair value updated Aug 30, 2026, revised from €34.98 to €33.60 (−3.9%) since Aug 13, 2026. Share price −1.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€42.00). The favourable scenario is already priced in.
- Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range €19.31 – €68.20 · fair‑value band €25.20 – €42.00 · the €66.00 price screens above the €33.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Banca Generali S.p.A. (BGN) currently trades at €66.00, while our model-based Fair Value estimate is €33.60, implying the stock looks roughly 96.4% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Financial Services sector. Bull case: the Dividend Discount group reads highest at a median of €42.59 per share, and 0 of the 6 models we run sit above the €66.00 price. Bear case: the Asset-Based group reads lowest at €9.21, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Banca Generali S.p.A. generated revenue of €1.0B at a net margin of 44.8%. Revenue grew 11.6% year over year. It earns a return on equity of 28.2%. Net debt stands at €563M. Fundamentals as of Aug 30, 2026
Our scenario range runs from €25.20 (bear case) to €42.00 (bull case); at €66.00, the current price sits above 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 about 1% below its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −49%, BGN screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €1.80 per share, which is 5.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Dividend Discount (€42.59) versus Asset-Based (€9.21). Highest evidence: Gordon GGM (67).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 38 · Market factors (momentum, volatility) 81
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Banca Generali S.p.A. distributes financial products and services for high net worth, affluent and private customers through financial advisors in Italy. The company operates through Private Banking CGU (PB CGU) and Senior Partner CGU (SP CGU) segments.
Full company description
Banca Generali S.p.A. distributes financial products and services for high net worth, affluent and private customers through financial advisors in Italy. The company operates through Private Banking CGU (PB CGU) and Senior Partner CGU (SP CGU) segments. It offers banking accounts and services comprising current and deposit accounts, other bespoke banking, and payment services; custody and administration services for the financial instruments; advisory services on the purchase and sale of instruments on the primary and secondary markets; asset management services, such as mutual investment funds, in-house products, and portfolio management solutions; distributes insurance products; and insurance investments. The company also provides wealth advisory services, including corporate advisory, which supports companies' growth and extraordinary finance transactions; real estate advisory, focused on the valuation and management of real estate; art and passion Advisory, dedicated to works of art and collectibles; and family protection and planning, which provides advice on wealth protection, transfer, and generational continuity for family and business assets. The company was founded in 1997 and is headquartered in Milan, Italy. Banca Generali S.p.A. is a subsidiary of Assicurazioni Generali S.p.A.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Banca Generali S.p.A. reported revenue of €1.6B in FY2025 versus €817M in FY2021, a compound +18.4%/yr. Reported net income was €446M in FY2025, compounding +8.4%/yr from FY2021.
of which total revenue +7.4 % · buybacks/dilution +0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
BGN screens 96% overvalued. Compare with DBS Group →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Monte Paschi Bids 34 Billion for BPM, Banca Generali
- MPS prepares twin bids for Banco BPM and Banca Generali in Intesa defense - FT
- Banca Generali (WBO:BGN) Q2 2026 Earnings Call Highlights: Record Profits and Asset Growth
- Banca Generali posts record first-half profit of €279m
Peer Group
Banks - Regional · 1071 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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Strength profile in five axes (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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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