BMED (Banca Mediolanum SpA) vs DAX Index Comparison

BMED

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BMED

DAX Index

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BMED

DAX Index

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DAX Index

BMED

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8591

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Banca Mediolanum SpA
Glance View

Market Cap

8.7B EUR

Industry

Financial Services

Banca Mediolanum SpA, an emblematic name in the Italian banking sector, has carved its niche by brilliantly merging traditional financial services with modern technological prowess. Founded in the late 1980s, the bank started with a vision of offering personalized financial services aimed at individual and family savings management. Evolving over the decades, Banca Mediolanum has concentrated on a robust business model that focuses on direct banking channels combined with a network of well-trained financial advisors. This hybrid approach enables the bank to offer bespoke investment and insurance solutions to its vicinities that are adaptable to varying market climates. The company's revenue streams are multifaceted. At the core, it earns from interest income by leveraging its vast deposit base to finance loans across sectors including, but not limited to, real estate and consumer credit. Moreover, Banca Mediolanum's impressive array of fee-generating services—comprising financial planning, mutual fund management, and investment advisory—provide a substantial source of non-interest income, further diversifying its financial portfolio. This model not only elevates customer engagement through personalized service but also ideally positions the bank to thrive amidst an increasingly competitive financial landscape by banking on trust and innovation.

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BMED Intrinsic Value

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.

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BMED

vs

DAX Index

Stocks Performance
BMED vs DAX Index

Performance Gap
BMED vs DAX Index

Performance By Year
BMED vs DAX Index

Competitors Performance
Banca Mediolanum SpA vs Peers

Banca Mediolanum SpA
Glance View

Company

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BMED vs DAX Index

Stocks Performance BMED vs DAX Index

Performance Gap BMED vs DAX Index

Performance By Year BMED vs DAX Index

Competitors Performance Banca Mediolanum SpA vs Peers

Banca Mediolanum SpA Glance View

Company

Help

Tools

Stocks

BMED

vs

DAX Index

Stocks Performance
BMED vs DAX Index

Performance Gap
BMED vs DAX Index

Performance By Year
BMED vs DAX Index

Competitors Performance
Banca Mediolanum SpA vs Peers

Banca Mediolanum SpA
Glance View