FNM S.p.A. (IT:FNM)
:FNM
Top Page
FNM S.p.A.
(FNM)
Select Model
Select Model
Rating:71Outperform
Price Target:
€0.57
▲(7.55% Upside)
Action:UpgradedDate:12/11/25
FNM S.p.A. receives a solid overall score driven by its attractive valuation and technical indicators suggesting potential upward momentum. However, the mixed financial performance, particularly the decline in revenue and free cash flow growth, tempers the overall outlook.
Positive Factors
Market position & diversified revenue
FNM's core position in Northern Italy with multimodal offerings and contracted services creates durable demand and revenue visibility. Diversified streams—fares, regional contracts, freight and subsidies—reduce cyclicality and support steady utilization and route scale over months to years.
Negative Factors
Declining revenue momentum
A sharp slowdown in revenue growth is a durable concern: reduced top-line expansion impairs scale economics and may force tradeoffs between investment and margins. If sustained over multiple quarters, weaker revenue undermines cash flow generation and strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Market position & diversified revenue
FNM's core position in Northern Italy with multimodal offerings and contracted services creates durable demand and revenue visibility. Diversified streams—fares, regional contracts, freight and subsidies—reduce cyclicality and support steady utilization and route scale over months to years.
Read all positive factors
FNM S.p.A. (FNM) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€231.37M
Dividend Yield3.86%
Average Volume (3M)273.53K
Price to Earnings (P/E)2.8
Beta (1Y)0.58
Revenue Growth4.31%
EPS Growth-15.86%
CountryIT
Employees2,675
SectorGeneral
Sector StrengthN/A
IndustryRailroads
Share Statistics
EPS (TTM)0.03
Shares Outstanding434,902,560
10 Day Avg. Volume229,859
30 Day Avg. Volume273,530
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)0.51
Price to Sales (P/S)0.21
P/FCF Ratio1.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€0.68Price Target Upside28.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.02
Revenue Forecast (FY)€692.73M
FNM S.p.A. Business Overview & Revenue Model
Company Description
FNM S.p.A. manages and maintains railway network in Italy. The company offers road passenger transport and motorway infrastructure management services; engineering services; design, and works and project management services; and regular transport ...
How the Company Makes Money
FNM generates revenue through multiple streams, primarily from fares collected from passengers using its rail and bus services. The company also earns income through contracts and agreements with regional governments for public transport services....
FNM S.p.A. Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 806.35M | 891.85M | 750.97M | 661.10M | 567.93M | 243.75M |
| Gross Profit | 138.17M | 235.12M | 243.28M | 198.05M | 170.23M | 6.05M |
| EBITDA | 390.23M | 239.52M | 228.94M | 195.87M | 150.51M | 68.17M |
| Net Income | 73.60M | 59.33M | 80.86M | 68.48M | 40.88M | 24.18M |
Balance Sheet | ||||||
| Total Assets | 2.28B | 2.35B | 2.11B | 2.02B | 1.92B | 1.15B |
| Cash, Cash Equivalents and Short-Term Investments | 410.20M | 504.16M | 398.55M | 244.64M | 365.14M | 253.34M |
| Total Debt | 1.09B | 925.76M | 846.31M | 905.44M | 972.14M | 154.91M |
| Total Liabilities | 1.79B | 1.94B | 1.74B | 1.71B | 1.69B | 668.60M |
| Stockholders Equity | 490.50M | 374.31M | 355.33M | 283.93M | 206.82M | 457.80M |
Cash Flow | ||||||
| Free Cash Flow | 40.57M | 106.89M | 134.22M | 56.14M | 102.16M | -60.43M |
| Operating Cash Flow | 136.24M | 196.00M | 182.69M | 145.22M | 140.42M | 7.44M |
| Investing Cash Flow | -47.47M | -81.42M | 63.96M | -157.20M | -546.45M | 25.47M |
| Financing Cash Flow | -175.34M | -9.53M | -88.41M | -102.59M | 504.52M | -8.29M |
FNM S.p.A. Technical Analysis
Positive
0.53
Price Trends
0.49
Positive
0.49
Positive
0.47
Positive
Market Momentum
<0.01
Negative
72.86
Negative
97.39
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:FNM, the sentiment is Positive. The current price of 0.53 is above the 20-day moving average (MA) of 0.48, above the 50-day MA of 0.49, and above the 200-day MA of 0.47, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 72.86 is Negative, neither overbought nor oversold. The STOCH value of 97.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:FNM.
FNM S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €231.37M | 2.78 | 16.88% | 3.86% | 4.31% | -15.86% | |
66 Neutral | €4.93B | 46.08 | 14.30% | ― | 18.44% | ― | |
59 Neutral | €4.87B | 16.35 | 42.37% | 2.73% | 30.91% | 40.89% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €2.66B | 14.02 | 15.02% | 2.32% | 21.15% | 17.26% | |
42 Neutral | €567.09M | 18.96 | 8.39% | 4.42% | -10.26% | -45.52% |
* General Sector Average
IT:FNM
FNM S.p.A.
0.53
0.15
38.90%
IT:ADB
Aeroporto Guglielmo Marconi di Bologna S.p.A.
9.28
1.64
21.40%
IT:FCT
Fincantieri S.p.A.
13.78
3.61
35.50%
IT:MAIRE
MaireTecnimont SpA
14.86
7.38
98.74%
IT:PIA
Piaggio & C. SPA
1.59
-0.15
-8.63%
IT:WBD
Webuild SpA
2.65
-0.18
-6.22%
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.