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Italian postal service operator also providing banking, insurance and payments through its nationwide branch network.
Italian postal service operator also providing banking, insurance and payments through its nationwide branch network.
Financial services carry the group: it collects postal savings and sells insurance and investment products through its post offices, earning fees and the spread on deposits invested mostly in government bonds, while mail declines and parcels grow with e-commerce. The Italian state holds the majority, directly and through its development lender Cassa Depositi e Prestiti.
Moat: narrow (regulatory licence, scale, distribution). State postal monopoly heritage gives an unmatched nationwide branch network for financial services cross-sell.
Headquarters: Rome, Italy · Founded: 1862 · Employees: 112,490
Size Poste Italiane (PST.MI) is an Italy Industrials company (Air Freight/Couriers) with a market value of $43.9B, the 7th largest of 123 Italy companies the cockpit tracks. Shares closed at €24.52 on 6 Nov 2026.
Performance Over six months the shares gained 0.6%, against -1.7% for the median peer and +3.1% for the Italy market (cap-weighted) — 7th highest of 14 in its peer set.
Growth Revenue grew 10.5% over the last twelve months (peer median +11.3%); the operating margin is 14.4% (peer median 7.4%).
Valuation It trades at 13.5× forward earnings against a peer median of 16.6× (3rd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is -7%, so the hurdle is +24 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.5 points below its cost of capital (6.4% WACC).
Credit Poste Italiane has 3 bonds outstanding ($2.28B), rated BBB+ by the agencies and trading like AAA at a weighted spread of 28 bp.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €23.1B | €21.1B | €21.2B | €20.1B | €13.1B |
| Revenue growth | — | 0% | +5% | +54% | — |
| Gross profit | €3.68B | €6.80B | €6.34B | €5.66B | €5.35B |
| EBITDA | €4.29B | €4.64B | €4.00B | €3.93B | €3.47B |
| Net income | €2.40B | €2.21B | €1.99B | €1.92B | €1.58B |
| Free cash flow | €1.91B | €2.04B | €2.40B | €1.04B | -€161M |
| Capital expenditure | €831M | €1.18B | €965M | €846M | €810M |
| Total debt | €94.1B | €94.4B | €89.7B | €90.1B | €95.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Poste Italiane PST.MI | $43.9B | +1% | +11% | 14% | 13.5× | 17.6% |
| Intesa Sanpaolo ISP.MI | $120B | +6% | -6% | 37% | 10.5× | n/a |
| UniCredit UCG.MI | $130B | +6% | +2% | 56% | 10.4× | n/a |
| Assicurazioni Generali G.MI | $73.8B | +12% | -8% | 11% | 13.7× | n/a |
| Deutsche Post DHL.DE | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PST.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.7% | +6.5% | 5th lowest of 15 |
| 6-month return | +0.6% | -1.7% | 7th highest of 14 |
| Distance from 52-week high | -16.8% | -14.6% | 7th lowest of 15 |
| Revenue growth (TTM) | +10.5% | +11.3% | 7th lowest of 15 |
| Operating margin | 14.4% | 7.4% | 3rd highest of 15 |
| Forward P/E | 13.5× | 16.6× | 3rd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 17.6% | 3.9% | 2nd most demanding of 13 |
| Growth delivered (Del g) | -6.8% | +10.9% | lowest of 13 |
| Hurdle (Req g minus delivered) | +24.5 pp | -6.8 pp | most demanding of 13 |
| ROIC minus cost of capital | -3.5 pp | +6.7 pp | 3rd lowest of 15 |
| EV / EBITDA | 25.2× | 10.2× | most expensive of 11 |
| Net debt / EBITDA | 16.1× | 1.9× | most indebted of 13 |
| Bond spread | 28 bp | 96 bp | tightest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Poste Italiane PST.MI | Italy | $43.9B | +1% | +11% | 14% | 13.5× | 17.6% | -6.8% |
| Dsv A/s DSV.CO | Denmark | $51.5B | -3% | +37% | 8% | 23.5× | 3.9% | +16.3% |
| FedEx FDX | United States | $72.2B | +1% | +8% | 7% | 15.4× | 8.3% | +2.5% |
| Deutsche Post DHL.DE | Germany | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% | +4.4% |
| Expeditors International EXPD | United States | $24.0B | +18% | +19% | 10% | 21.1× | 8.9% | +2.9% |
| S.F 6936.HK | Hong Kong | $23.9B | -12% | +11% | 5% | 12.5× | -11.4% | +14.1% |
| S.F 002352.SZ | China | $23.9B | -7% | +6% | 5% | 15.9× | -12.9% | +14.9% |
| United Parcel Service UPS | United States | $92.1B | +9% | 0% | 9% | 13.6× | 3.9% | +1.0% |
| Brambles BXB.AX | Australia | $20.4B | +2% | +1% | 17% | 20.8× | 8.9% | +8.3% |
| Zto Express-w 2057.HK | Hong Kong | $15.6B | -19% | +21% | 20% | 10.2× | -1.6% | +13.5% |
| C.H. Robinson CHRW | United States | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% | 0.0% |
| Grab GRAB | United States | $13.9B | -8% | +23% | 11% | 23.3× | 17.8% | +48.4% |
| Delivery Hero SE TEMP DHE1.DE | Germany | $12.9B | n/a | +11% | 0% | n/a | n/a | n/a |
| Delivery Hero DHER.DE | Germany | $12.9B | +31% | +11% | 0% | n/a | n/a | n/a |
| J&T Global Express 1519.HK | Hong Kong | $11.9B | -2% | +32% | 6% | 18.6× | -3.8% | +51.4% |
Poste Italiane has 3 bonds outstanding with $2.28B face value. The agencies rate it BBB+; its bonds trade like AAA. Weighted yield 3.84%, a spread of 28 bp over government bonds.