ANIMA Holding S.p.A. (IT:ANIM)
:ANIM
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ANIMA Holding S.p.A.
(ANIM)
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Rating:68Neutral
Price Target:
€8.00
▲(31.80% Upside)
Action:Downgraded
Date:03/25/26
The score is driven by solid fundamentals (strong profitability and manageable leverage) and attractive valuation (low P/E and high dividend yield), partially offset by weak near-term technical momentum and the risk signaled by prior cash-flow volatility.
Positive Factors
Improving Profitability and Margins
ANIMA's margins have meaningfully recovered and expanded through 2025, with high gross, operating and net margins that support durable fee income conversion to profits. Strong margins underpin cash available for reinvestment and shareholder returns even if AuM growth moderates.
Negative Factors
Cash-Flow Volatility
Material swings in operating and free cash flow reduce visibility on sustainable cash conversion and constrain capital allocation. Volatility undermines confidence in dividend coverage and limits room for strategic investments or absorbing revenue shocks over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Profitability and Margins
ANIMA's margins have meaningfully recovered and expanded through 2025, with high gross, operating and net margins that support durable fee income conversion to profits. Strong margins underpin cash available for reinvestment and shareholder returns even if AuM growth moderates.
Read all positive factors
ANIMA Holding S.p.A. (ANIM) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€2.24B
Dividend Yield7.44%
Average Volume (3M)172.90K
Price to Earnings (P/E)8.7
Beta (1Y)0.47
Revenue Growth4.76%
EPS Growth0.10%
CountryIT
Employees494
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)0.82
Shares Outstanding325,215,820
10 Day Avg. Volume198,653
30 Day Avg. Volume172,899
Financial Highlights & Ratios
PEG Ratio0.60
Price to Book (P/B)1.05
Price to Sales (P/S)1.38
P/FCF Ratio4.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.8
Revenue Forecast (FY)€489.65M
ANIMA Holding S.p.A. Business Overview & Revenue Model
Company Description
Anima Holding SpA is a publicly owned investment manager. The firm invests in the public equity markets of Italy. The firm offers various investment schemes and foreign SICAVs, and institutional and private pension funds, mutual funds, open-ended ...
How the Company Makes Money
ANIMA Holding S.p.A. primarily makes money by providing investment management services and earning fees linked to assets under management (AuM). The core revenue stream is recurring management fees charged on the AuM of its mutual funds and manage...
ANIMA Holding S.p.A. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.43B | 1.32B | 1.02B | 1.02B | 1.23B |
| Gross Profit | 542.55M | 506.99M | 388.41M | 309.99M | 440.69M |
| EBITDA | 435.80M | 384.82M | 279.74M | 243.50M | 331.30M |
| Net Income | 266.24M | 227.92M | 148.88M | 120.80M | 238.66M |
Balance Sheet | |||||
| Total Assets | 2.95B | 2.69B | 2.39B | 2.33B | 2.53B |
| Cash, Cash Equivalents and Short-Term Investments | 692.91M | 649.16M | 207.55M | 499.27M | 585.30M |
| Total Debt | 818.14M | 611.30M | 621.98M | 591.84M | 595.99M |
| Total Liabilities | 1.05B | 1.03B | 948.90M | 943.47M | 1.09B |
| Stockholders Equity | 1.88B | 1.64B | 1.43B | 1.39B | 1.45B |
Cash Flow | |||||
| Free Cash Flow | 411.85M | 281.82M | -128.06M | 79.75M | 410.62M |
| Operating Cash Flow | 413.08M | 282.14M | -125.83M | 83.80M | 413.04M |
| Investing Cash Flow | -3.59M | -25.14M | -63.96M | -3.98M | -2.40M |
| Financing Cash Flow | -146.48M | -119.59M | -116.39M | -190.53M | -112.70M |
ANIMA Holding S.p.A. Technical Analysis
Positive
6.07
Price Trends
6.53
Positive
6.31
Positive
6.00
Positive
Market Momentum
0.20
Positive
64.90
Neutral
34.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ANIM, the sentiment is Positive. The current price of 6.07 is below the 20-day moving average (MA) of 6.99, below the 50-day MA of 6.53, and above the 200-day MA of 6.00, indicating a bullish trend. The MACD of 0.20 indicates Positive momentum. The RSI at 64.90 is Neutral, neither overbought nor oversold. The STOCH value of 34.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:ANIM.
ANIMA Holding S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €4.96B | 9.15 | 28.43% | 4.91% | 10.06% | -6.98% | |
69 Neutral | €6.31B | 11.76 | 31.07% | 4.75% | 4.69% | 10.11% | |
68 Neutral | €2.24B | 8.71 | 15.75% | 7.44% | 4.76% | 0.10% | |
61 Neutral | €57.42B | 6.86 | 13.09% | 3.99% | -13.42% | 14.69% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €1.45B | -26.32 | 6.25% | 1.77% | 224.12% | 69.05% | |
47 Neutral | €111.20M | 65.22 | 7.01% | 7.69% | -32.01% | -6.82% |
* General Sector Average
IT:ANIM
ANIMA Holding S.p.A.
7.14
1.55
27.61%
IT:G
Assicurazioni Generali S.p.A.
38.58
6.66
20.85%
IT:AZM
Azimut Holding SPA
34.72
10.32
42.29%
IT:BGN
Banca Generali SpA
55.15
5.05
10.08%
IT:PRO
Banca Profilo SPA
0.17
>-0.01
-2.31%
IT:TIP
Tamburi Investment Partners Spa
8.60
0.85
11.01%
ANIMA Holding S.p.A. Corporate Events
ANIMA Holding posts April net inflows on institutional strength despite insurance outflows
May 8, 2026
ANIMA Holding reported April 2026 net inflows of €160 million into managed assets excluding Class I insurance mandates, taking total assets under management to €205.5 billion and €206.9 billion including administered assets. The ...
Anima Holding Delivers Higher Underlying Profit and Stronger Cash Despite Mandate Loss
May 4, 2026
Anima Holding reported first-quarter 2026 results showing resilient operations despite external headwinds, including market turbulence linked to the war between the USA/Israel and Iran and the long-flagged loss of the Etica SGR mandate. Net inflow...
ANIMA Holding Board Confirms CEO and Names New Vice President
Apr 17, 2026
ANIMA Holding’s newly appointed Board of Directors, chaired by Patrizia Grieco, held its first meeting following the April 15 shareholders’ meeting and confirmed its top leadership structure. The Board named Marcello Priori as Vice Pre...
Anima Holding Approves 2025 Results, Dividend and New Board Line-Up
Apr 15, 2026
Anima Holding S.p.A., a leading Italian asset manager listed on Euronext Milan, approved its 2025 financial statements and confirmed its focus on sustainable reporting in line with new Italian regulations. The company continues to target the retai...
ANIMA Holding Hit by Expected Etica Mandate Exit and Market Turbulence in March Flows
Apr 9, 2026
ANIMA Holding, a leading Italian asset manager, reported total managed savings of €201.9 billion at the end of March 2026, or €203.3 billion including administered assets, as market declines and weaker retail risk appetite weighed on p...
Anima Holding Publishes Governance Documents Ahead of April Shareholders’ Meeting
Mar 26, 2026
Anima Holding S.p.A., the Milan-listed asset manager, has disclosed that key governance and compensation documents for its upcoming ordinary and extraordinary shareholders’ meeting on 15 April 2026 are now publicly available. The publication...
Anima Holding Publishes Governance Documents Ahead of April Shareholders’ Meeting
Mar 25, 2026
Anima Holding S.p.A. has published key documents for its Ordinary and Extraordinary Shareholders’ Meeting scheduled for 15 April 2026, making them available at its registered office, on its website and via the 1info regulated information sto...
ANIMA Holding Revises 2026 Financial Calendar After Joining Banco BPM Group
Mar 24, 2026
ANIMA Holding has adjusted its 2026 financial calendar following its integration into the Banco BPM Banking Group, replacing its interim management reports for 31 March and 30 September 2026 with additional periodic financial information. To maint...
ANIMA Holding Reopens Auditor Slate Deadline, Lowers Threshold for Minority Investors
Mar 22, 2026
ANIMA Holding has reopened the deadline for submitting slates of candidates for its Board of Statutory Auditors after only the majority shareholder presented a slate by the original 21 March 2026 cutoff. In line with Consob regulations, the compan...
Anima Holding Publishes 2025 Annual Financial Report for Public Access
Mar 18, 2026
Anima Holding S.p.A., a leading Italian asset manager listed on Euronext Milan, provides investment management products and services to clients in Italy and adheres to rigorous financial reporting and transparency requirements. The company has mad...
ANIMA Holding Posts February Net Outflows but Assets Under Management Continue to Grow
Mar 6, 2026
ANIMA Holding reported preliminary February 2026 data showing net outflows of €67 million in asset management excluding Class I insurance mandates, while total assets under management reached €214.6 billion and €216.0 billion inc...
Anima Holding Approves 2025 Accounts Ahead of April Shareholders’ Meeting
Mar 3, 2026
Anima Holding S.p.A., a major Italian asset and wealth management group, has approved its draft separate and consolidated financial statements for the year ended December 31, 2025, confirming preliminary results previously disclosed to the market....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.