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Arnoldo Mondadori Editore SPA
(MN)
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Rating:66Neutral
Price Target:
€2.50
▲(22.55% Upside)
Action:Downgraded
Date:04/05/26
The score is driven primarily by solid cash-flow fundamentals and improved leverage, tempered by the sharp 2025 revenue and gross-profitability deterioration and increased uncertainty from incomplete 2025 metrics. Valuation is supportive (low P/E and high dividend yield), while technical signals are mixed and do not add strong momentum confirmation.
Positive Factors
Strong cash generation
Consistent operating and free cash flow across 2020–2025 provides durable internal funding for content investment, retail/distribution needs and dividends. Healthy FCF conversion (well over half of net income in 2021–2024) underpins earnings quality and financial flexibility over the medium term.
Negative Factors
Sharp 2025 revenue & profitability hit
A material drop in 2025 revenue and weakened gross profitability signals potential structural issues—demand, pricing or cost pressures—that undermine sustainable margins and cash generation. If persistent, this hampers reinvestment in content and reduces long‑term earnings visibility and resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent operating and free cash flow across 2020–2025 provides durable internal funding for content investment, retail/distribution needs and dividends. Healthy FCF conversion (well over half of net income in 2021–2024) underpins earnings quality and financial flexibility over the medium term.
Read all positive factors
Arnoldo Mondadori Editore SPA (MN) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€546.86M
Dividend Yield6.98%
Average Volume (3M)302.20K
Price to Earnings (P/E)10.3
Beta (1Y)0.52
Revenue Growth2.24%
EPS Growth-8.16%
CountryIT
Employees1,881
SectorGeneral
Sector StrengthN/A
IndustryPublishing
Share Statistics
EPS (TTM)0.20
Shares Outstanding261,458,340
10 Day Avg. Volume314,923
30 Day Avg. Volume302,198
Financial Highlights & Ratios
PEG Ratio-1.16
Price to Book (P/B)1.68
Price to Sales (P/S)0.60
P/FCF Ratio7.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€2.80Price Target Upside37.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.24
Revenue Forecast (FY)€969.80M
Arnoldo Mondadori Editore SPA Business Overview & Revenue Model
Company Description
As a subsidiary of Finanziaria d'investimento Fininvest S.p.A., Arnoldo Mondadori Editore S.p.A. is a prominent European publishing house, founded in Segrate, Italy, in 1907. The company, along with its various affiliates, specializes in the produ...
How the Company Makes Money
Mondadori primarily makes money by monetizing intellectual property and audiences across its publishing and media ecosystem. Key revenue streams include: (1) Book publishing revenue: sales of printed books and digital formats (e.g., e-books and ot...
Arnoldo Mondadori Editore SPA Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
63
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 938.08M | 931.60M | 934.73M | 904.74M | 903.00M | 807.35M |
| Gross Profit | 436.73M | 540.92M | 654.08M | 299.76M | 560.19M | 498.41M |
| EBITDA | 148.85M | 151.07M | 156.86M | 145.78M | 121.48M | 85.15M |
| Net Income | 50.72M | 54.10M | 60.21M | 62.41M | 52.07M | 44.21M |
Balance Sheet | ||||||
| Total Assets | 1.10B | 1.08B | 1.14B | 1.04B | 1.01B | 1.02B |
| Cash, Cash Equivalents and Short-Term Investments | 36.06M | 56.66M | 111.29M | 49.72M | 34.95M | 90.72M |
| Total Debt | 292.13M | 220.49M | 255.14M | 188.65M | 201.87M | 248.87M |
| Total Liabilities | 783.11M | 745.86M | 819.97M | 747.21M | 745.82M | 803.85M |
| Stockholders Equity | 314.60M | 331.25M | 316.07M | 288.08M | 259.56M | 219.57M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 71.42M | 77.47M | 81.12M | 64.44M | 78.61M |
| Operating Cash Flow | 0.00 | 116.99M | 125.82M | 121.58M | 98.55M | 96.09M |
| Investing Cash Flow | 0.00 | -47.52M | -62.47M | -31.54M | -71.50M | -145.36M |
| Financing Cash Flow | 0.00 | -124.09M | -1.79M | -75.26M | -82.82M | 30.48M |
Arnoldo Mondadori Editore SPA Technical Analysis
Positive
2.04
Price Trends
2.08
Positive
2.03
Positive
2.00
Positive
Market Momentum
<0.01
Positive
39.22
Neutral
4.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:MN, the sentiment is Positive. The current price of 2.04 is below the 20-day moving average (MA) of 2.10, below the 50-day MA of 2.08, and above the 200-day MA of 2.00, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 39.22 is Neutral, neither overbought nor oversold. The STOCH value of 4.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:MN.
Arnoldo Mondadori Editore SPA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | €546.86M | 10.28 | 16.18% | 7.19% | 2.24% | -8.16% | |
66 Neutral | €479.61M | 8.43 | 12.24% | 7.48% | -3.85% | -11.60% | |
61 Neutral | €281.17M | 8.07 | 7.08% | 7.69% | -3.64% | -5.83% | |
56 Neutral | €658.65M | 21.40 | 3.57% | ― | -0.15% | -20.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IT:MN
Arnoldo Mondadori Editore SPA
2.10
0.23
12.06%
IT:CAI
Cairo Communication SPA
2.34
-0.17
-6.59%
IT:CALT
Caltagirone SPA
10.06
3.21
46.90%
IT:CLE
Class Editori SPA
0.14
>-0.01
-1.44%
IT:CIR
CIR SpA - Compagnie Industriali Riunite
0.72
0.09
15.22%
IT:RCS
RCS MediaGroup S.p.A.
0.93
-0.02
-2.63%
Arnoldo Mondadori Editore SPA Corporate Events
Arnoldo Mondadori Allocates Shares Under 2023–2025 Performance Plan
Jun 3, 2026
Arnoldo Mondadori Editore has allocated ordinary shares to beneficiaries under its 2023–2025 performance share plan, distributing a series of zero-cost share transfers in May 2026. The transactions, executed on the Italian market, involve mu...
Arnoldo Mondadori Editore Publishes Minutes of April 2026 Shareholders’ Meeting
May 21, 2026
Arnoldo Mondadori Editore S.p.A. has made available to the public the minutes of its Ordinary Shareholders’ Meeting held on 21 April 2026, which can be consulted at the company’s registered office, via the authorised storage mechanism ...
Mondadori Manager Sells Shares to Cover Taxes on Performance Plan
May 21, 2026
Arnoldo Mondadori Editore has disclosed transactions by a manager, Alessandro Edoardo Franzosi, involving sales of company ordinary shares executed on 15 May 2026 across MTAA and CEUX venues. The trades, carried out at prices around €2.08 pe...
Mondadori Lifts Q1 Revenues and Confirms 2026 Outlook Amid M&A-Driven Expansion
May 13, 2026
Mondadori reported a 3.9% rise in first‑quarter 2026 revenues to €170.9 million, driven by digital development, acquisitions such as Edilportale and MA Retail, and a recovering book market supported by public funds for libraries. Profi...
Mondadori Completes Acquisition of Hoepli’s School Publishing Unit
Apr 30, 2026
Mondadori Group has completed the acquisition of Hoepli S.p.A.’s school publishing business unit, following an agreement signed earlier in April. The transaction, effective immediately, expands Mondadori’s footprint in the Italian educ...
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.