Goodwill - illimity Bank SpA (MIL:ILTY)

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Price: 4.04 EUR

Market Cap: €339.6m

illimity Bank SpA
Goodwill

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Balance Sheet

illimity Bank SpA
Goodwill Peer Comparison

Company		Goodwill	CAGR 3Y	CAGR 5Y	CAGR 10Y
	illimity Bank SpA MIL:ILTY	Goodwill €33.7m	CAGR 3-Years -2%	CAGR 5-Years 9%	CAGR 10-Years N/A
	BFF Bank SpA MIL:BFF	Goodwill €31m	CAGR 3-Years 0%	CAGR 5-Years 0%	CAGR 10-Years N/A
	Banca IFIS SpA MIL:IF	Goodwill €38m	CAGR 3-Years 0%	CAGR 5-Years -1%	CAGR 10-Years 44%
	Dovalue SpA MIL:DOV	Goodwill €332.9m	CAGR 3-Years 12%	CAGR 5-Years 22%	CAGR 10-Years N/A
G	GeneralFinance SpA MIL:GF	Goodwill €0	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A

illimity Bank SpA
Glance View

Market Cap

339.6m EUR

Industry

Financial Services

illimity Bank SpA engages in the provision of financial services. The company is headquartered in Milan, Milano. The company went IPO on 2019-03-05. The Bank provides products and services through three segments: Small and Medium Enterprises (SME), Corporate Non Performing Loans (NPLs) and Individuals and Families. The SME segment aims at Italian small and medium-sized enterprises characterized by limited access to credit providing factoring and services for both performing and non-performing companies. The Corporate NPLs segment operates by acquiring portfolios or funding the acquisition thereof by other investors, or directly managing the loans. The Individuals and Families segment covers a range of direct banking services, such as current accounts, debit and credit cards and advanced payment systems, deposit account, loans, mortgages and insurance, among others. The Bank is active locally.

View ILTY Analysis

ILTY Intrinsic Value

Undervaluation 31%

Intrinsic Value

Price

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

illimity Bank SpA
MIL:ILTY

illimity Bank SpA
Goodwill

illimity Bank SpA
Goodwill Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

illimity Bank SpA
Glance View

See Also

What is illimity Bank SpA's Goodwill?

Goodwill
33.7m EUR

What is illimity Bank SpA's Goodwill growth rate?

Goodwill CAGR 5Y
9%

Company

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illimity Bank SpA MIL:ILTY

illimity Bank SpA Goodwill

illimity Bank SpA Goodwill Peer Comparison

Competitors Analysis Latest Figures & CAGR of Competitors

illimity Bank SpA Glance View

See Also

What is illimity Bank SpA's Goodwill? Goodwill 33.7m EUR

What is illimity Bank SpA's Goodwill growth rate? Goodwill CAGR 5Y 9%

Company

Help

Tools

Stocks

illimity Bank SpA
MIL:ILTY

illimity Bank SpA
Goodwill

illimity Bank SpA
Goodwill Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

illimity Bank SpA
Glance View

What is illimity Bank SpA's Goodwill?

Goodwill
33.7m EUR

What is illimity Bank SpA's Goodwill growth rate?

Goodwill CAGR 5Y
9%