UCG.MI · MIL FTSE MIB Euro Stoxx 50

UniCredit S.p.A.

Financial services · Regional banks

€83.61 +€0.06 (+0.07%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 18 analysts

Buy

Median price target €99.75 +19.3%

Open: €85.00
Day range: 82.76 – €85.00
52-week range: 57.36 – €86.42
Volume: 2,055,139
Market cap: €125,271M
P/E (TTM): 11.4x
EPS (TTM): €7.35
EPS est. 2026: €7.66
P/E est. 2026: 10.9x
Dividend yield: 5.6%
Beta: 1.10
Payout: 42%

Analyst summary

Generated with AI · Nov 11, 2026, 14:41

UniCredit is a diversified commercial bank operating across Italy, Germany, Central Europe and Eastern Europe, with retail, wealth-management and corporate finance activities. Q3 2026 revenue rose 12.9% year on year to €6,941M, while net income was €3,307M. The shares trade at 11.4x trailing earnings and offer a 5.6% trailing dividend yield. Analysts expect EPS to increase in 2026 and 2027, although the share price is already close to its 52-week high.

1Q3 2026 revenue increased 12.9% year on year to €6,941M.
2Q3 EPS of €2.147 beat consensus by 14.0%.
3The trailing dividend yield is 5.6%, with a 42% payout ratio.

UniCredit financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	€6,941M	+12.9%
Net income	€3,307M	n/a
Earnings per share	€2.18	+25.9%
Net margin	47.6%	n/a
Free cash flow	n/a	n/a
Debt / equity	1.42	n/a

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q3 2025	€6,146M	n/a
Q4 2025	€5,348M	€2,137M
Q1 2026	€7,073M	€3,264M
Q2 2026	€6,541M	€2,954M
Q3 2026	€6,941M	€3,307M

Q3 2026 revenue advanced 12.9% year on year to €6,941M. Net income was €3,307M and the reported net margin was 47.6%; comparable year-on-year figures for these two measures are n/a. Quarterly revenue was €7,073M in Q1, €6,541M in Q2 and €6,941M in Q3 2026. EPS has risen from €5.045 in 2023 to €6.914 in 2025, with consensus at €7.661 for 2026 and €8.611 for 2027.

Quarterly EPS was €2.095 in Q1 2026, €1.801 in Q2 and €2.147 in Q3; Q3 grew 24.0% year on year and beat its €1.883 estimate by 14.0%. Q2 beat by 0.6%, while Q4 2025 missed by 10.3%. Free cash flow is n/a; for banks, free cash flow and debt/equity are not representative metrics. UniCredit trades at 11.4x trailing P/E, against forward P/Es of 10.9x for 2026 and 9.7x for 2027.

Written by AI · Nov 11, 2026, 14:41

UniCredit earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 3	€1.5091.27 – 1.67	+38.7%€1.088
Next quarterQ1 2027 · Analysts: 1	€3.7003.70 – 3.70	+72.1%€2.150
Current year2026 · Analysts: 8	€7.6617.40 – 8.36	+17.7%€6.509
Next year2027 · Analysts: 10	€8.6117.94 – 10.12	+12.4%€7.661

Forward P/E: 10.9x (2026) and 9.7x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q2 2025	€2.232	—
Q3 2025	€1.732	—
Q4 2025	€1.088	€1.213
Q1 2026	€2.095	€1.851
Q2 2026	€1.801	€1.791
Q3 2026	€2.147	€1.883
Q4 2026	—	€1.509
Q1 2027	—	€3.700

Year	Actual EPS	Estimated EPS
2022	€3.056	—
2023	€5.045	—
2024	€5.781	—
2025	€6.914	—
2026	—	€7.661
2027	—	€8.611

EPS trend

Quarter	EPS	YoY change
Q1 2027Estimated	€3.700	+76.6%
Q4 2026Estimated	€1.509	+38.7%
Q3 2026	€2.147est. €1.883 · surprise +14.0%	+24.0%
Q2 2026	€1.801est. €1.791 · surprise +0.6%	−19.3%
Q1 2026	€2.095est. €1.851 · surprise +13.2%	n/a
Q4 2025	€1.088est. €1.213 · surprise −10.3%	n/a
Q3 2025	€1.732	n/a
Q2 2025	€2.232	n/a

Year	EPS	Annual change
2027Estimated	€8.611	+12.4%
2026Estimated	€7.661	+10.8%
2025	€6.914	+19.6%
2024	€5.781	+14.6%
2023	€5.045	+65.1%
2022	€3.056	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

UniCredit dividend

Yield and payments

Dividend yield (TTM)	5.6%
Forward yield (next 12m)	7.2%
Dividend per share (TTM)	€4.72
Forward dividend (next 12m)	€6.01
Payout (TTM)	42%
Last dividend	€1.72Apr 20, 2026
Next ex-dividend date	n/a

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€0.27
2020	€0.00
2021	€0.12
2022	€0.538
2023	€0.987
2024	€2.73
2025	€2.90
est. 12m	€6.01

UniCredit pays a dividend, with a trailing yield of 5.6% and €4.72 per share over the past 12 months. The estimated forward yield is 7.2%, based on an estimated €6.01 per share, while the payout ratio is 42%. The latest listed dividend was €1.72, with an ex-date of Apr 20, 2026; the next ex-date is n/d.

The dividend record has strengthened notably from €0.27 in 2019 and €0.00 in 2020 to €2.90 in 2025. The estimate of €6.01 for the next 12 months points to a substantial further increase, but remains a forecast rather than a declared distribution. The payout ratio offers context for that prospective income, while the forward yield depends on the estimated payment.

Written by AI · Nov 11, 2026, 14:41

UniCredit forecasts

18 analyst ratings

Buy67% Hold33% Sell0%

Consensus: Buy · 12 buy, 6 hold, 0 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€113.00	+35.2%
Median	€99.75	+19.3%
Low	€78.00	−6.7%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€64.09
Dec 30, 2025	€70.92
Jan 30, 2026	€73.45
Feb 27, 2026	€72.41
Mar 31, 2026	€60.86
Apr 30, 2026	€65.62
May 29, 2026	€74.24
Jun 30, 2026	€78.26
Jul 31, 2026	€81.61
Aug 31, 2026	€84.14
Sep 30, 2026	€82.90
Oct 30, 2026	€73.05
Nov 11, 2026	€83.61

Analyst sentiment is positive: of 18 analysts, 12 (67%) rate the shares Buy, six (33%) Hold and none Sell. The consensus rating is Buy. The median price target is €99.75, implying potential upside of +19.3% from the quoted share price.

Targets range from €78.00 (−6.7%) to €113.00 (+35.2%), indicating that the consensus is not unanimous on valuation. Earnings forecasts point to EPS of €7.661 in 2026 and €8.611 in 2027, with respective forward P/Es of 10.9x and 9.7x. These estimates provide the basis for a constructive consensus, but the range of targets leaves scope for differing views on delivery and valuation.

Written by AI · Nov 11, 2026, 14:41

UniCredit peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
UCG.MI	UniCredit	125,271	11.4x	83.61	+0.07%	57.3686.42
ISP.MI	Intesa Sanpaolo	108,698	11.0x	6.29	−1.66%	4.816.94
BNP.PA	BNP Paribas	104,602	8.4x	95.44	−0.23%	65.87113.82
CABK.MC	CaixaBank	85,954	13.5x	12.39	−1.04%	8.9613.56
DBK.DE	Deutsche Bank	61,695	9.8x	33.28	+0.48%	23.8235.85
NDA-FI.HE	Nordea	57,575	12.7x	16.97	−0.26%	14.1618.11

At €125,271M, UniCredit has the largest market capitalisation among the listed peers. Intesa Sanpaolo is valued at €108,698M and trades at 11.0x P/E, close to UniCredit’s 11.4x. BNP Paribas, at €104,602M, is cheaper on 8.4x, while Deutsche Bank is valued at €61,695M on 9.8x.

CaixaBank and Nordea have smaller market capitalisations of €85,954M and €57,575M, respectively, and higher P/Es of 13.5x and 12.7x. UniCredit therefore sits near the middle of this peer group on earnings valuation, despite its larger market capitalisation.

Written by AI · Nov 11, 2026, 14:41

Risks, catalysts and conclusion

Generated with AI · Nov 11, 2026, 14:41

Risks

Deteriorating borrower credit quality across its markets could raise loan losses and weigh on earnings.
Changes in interest rates could pressure revenue from commercial banking activities.
Failure to meet 2026–2027 EPS estimates could undermine the valuation implied by current and forward P/Es.

Catalysts

Delivery of consensus EPS growth to €7.661 in 2026 and €8.611 in 2027 could support investor confidence.
Further development of retail, wealth-management and corporate finance services could strengthen income across business lines.
A sustained dividend increase towards the estimated €6.01 per share could attract income-focused investors.

Conclusion

UniCredit combines strong recent revenue growth with rising EPS expectations and a 42% payout ratio, while its valuation is broadly in line with several listed peers. The analyst consensus is Buy, with a median target implying +19.3% potential upside; however, the target range includes downside and forecasts remain subject to delivery. The estimated dividend increase is supportive but should be distinguished from the latest declared payment.

Analysis written automatically by AI from Yahoo Finance market data on Nov 11, 2026, 14:41.

This content is for information only and is not financial advice or a recommendation to buy or sell securities. Ratings and price targets come from third-party analysts. Investing in the stock market involves the risk of losing capital.

UniCredit S.p.A.

Analyst summary

UniCredit financials

Q3 2026 results, quarter ended Sep 30, 2026

Revenue and net income (€M)

UniCredit earnings per share (EPS)

Consensus estimates

Actual and estimated EPS (€)

EPS trend

UniCredit dividend

Yield and payments

Dividend per share by year (€)

UniCredit forecasts

18 analyst ratings

1-year price forecast

UniCredit peers

Risks, catalysts and conclusion

Risks

Catalysts

Conclusion

What the AI agents think about UniCredit

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