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BPER Banca SpABPERF +3.99%40 Owner Earnings per Share (TTM) is 1.36 as of Dec. 2025, which is 86% below its 10-year median of 9.56. GuruFocus rates BPERF with a GF Score™ of 40/100 and a GF Value™ of $5.53 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,035 Banks companies, BPER Banca SpA ranks worse than 53.04% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
BPER Banca SpA's Owner Earnings per Share (TTM) ended in Dec. 2025 was $1.36. It's Price-to-Owner-Earnings ratio for today is 11.51.
The historical rank and industry rank for BPER Banca SpA's Owner Earnings per Share (TTM) or its related term are showing as below:
BPERF'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 0.24 Med: 9.56 Max: 18.54
Current: 11.5
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
BPER Banca SpA Owner Earnings per Share (TTM) Related Terms
BPER Banca SpA Owner Earnings per Share (TTM) Historical Data
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The historical data trend for BPER Banca SpA's Owner Earnings per Share (TTM) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BPER Banca SpA Owner Earnings per Share (TTM) Chart
BPER Banca SpA Owner Earnings per Share (TTM) Competitor Comparison
For the Banks - Regional subindustry, BPER Banca SpA's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
BPER Banca SpA Price-to-Owner-Earnings vs Banks Industry
For the Banks industry and Financial Services sector, BPER Banca SpA's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where BPER Banca SpA's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
BPER Banca SpA's Change In Deferred Tax for the trailing twelve months (TTM) ended in Dec. 2025 was $153 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $287 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous year. If the revenue decreased from the previous year, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous year, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
BPER Banca SpA's 5-Year Average Maintenance Capital Expenditure = $287 Mil
5. "Change In Working Capital" is from cashflow statement. BPER Banca SpA's Change In Working Capital for the trailing twelve months (TTM) ended in Dec. 2025 was $16 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Owner Earnings per Share (TTM) of 1.36 mean?
BPER Banca SpA (BPERF) has a Owner Earnings per Share (TTM) of 1.36 as of Dec. 2025. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on BPER Banca SpA. This is 86% below median its historical median of 9.56. Over the past decade, BPER Banca SpA's Owner Earnings per Share (TTM) has ranged from 0.24 to 18.54. According to the industry distribution chart, BPER Banca SpA ranks #549 out of 1035 companies in the Banks industry, placing it in the top 53%.
Is BPER Banca SpA's Owner Earnings per Share (TTM) too high?
BPER Banca SpA's current Owner Earnings per Share (TTM) of 1.36 is 86% below median its 10-year median of 9.56. Over the past 10 years, this metric has ranged from a low of 0.24 to a high of 18.54. The Banks industry median Owner Earnings per Share (TTM) is 10.60. BPER Banca SpA's value of 1.36 is 87.2% below this industry median. Based on the distribution chart, BPER Banca SpA ranks #549 out of 1035 companies in the Banks industry, which is below the industry midpoint. Overall, BPER Banca SpA has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BPER Banca SpA's Owner Earnings per Share (TTM) compare to competitors?
According to the Banks industry distribution chart, BPER Banca SpA ranks #549 out of 1035 companies for Owner Earnings per Share (TTM). This places BPER Banca SpA in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 10.60. BPER Banca SpA's value of 1.36 is 87.2% below this benchmark. Historically, BPER Banca SpA's own Owner Earnings per Share (TTM) has ranged from 0.24 to 18.54 over the past decade. While the company's 10-year median is 9.56 vs. the industry median of 10.60, BPER Banca SpA has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Banks company?
The median Owner Earnings per Share (TTM) among Banks companies is 10.60, based on 1,035 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. BPER Banca SpA's current Owner Earnings per Share (TTM) of 1.36 is 87.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on BPER Banca SpA. For the Banks industry, the median Owner Earnings per Share (TTM) is 10.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BPER Banca SpA's current Owner Earnings per Share (TTM) is 1.36, which is 86% below median its own 10-year median of 9.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BPER Banca SpA stock overvalued right now?
Based on GuruFocus' analysis, BPER Banca SpA (BPERF) is currently considered Significantly Overvalued. The stock's GF Value™ is $5.53, compared to a current price of $15.65 — trading 183% above its estimated fair value. The current Owner Earnings per Share (TTM) is 1.36, which is 86% below median its 10-year median of 9.56 and 87.2% below the Banks industry median of 10.60. BPER Banca SpA's overall GF Score™ is 40/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For BPER Banca SpA (BPERF), the current Owner Earnings per Share (TTM) is 1.36 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is BPER Banca SpA (BPERF) Overvalued in 2026?
Based on GuruFocus' analysis, BPER Banca SpA stock appears to be overvalued.
The current stock price of $15.65 is trading 183% above its estimated GF Value™ of $5.53.
GuruFocus considers BPER Banca SpA to be Significantly Overvalued.
Key valuation signals for BPERF:
Owner Earnings per Share (TTM): 1.36 (86% below median its 10-year median of 9.56)
GF Value™: $5.53 vs. price of $15.65 (183% above fair value)
Industry Position: 87.2% below the Banks median (#549 of 1035)
No single metric tells the full story. See the BPERF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BPER Banca SpA is a banking group consisting of four Italian regional commercial banks that merged on the initiative of BPER Banca. The banks are involved in a number of market segments, including retail banking, corporate and investment banking, and wealth management and insurance. In addition to the banks, the Group includes product companies, including asset management, personal loans, leasing, and factoring operations, and special purpose vehicles. Its strategy emphasizes customer service and cooperative banking. BPER group's customer base overwhelming derives from retail banking, mostly from individuals with some business deposits. Its loan base, however, is principally the group's corporate customers.
40GF Score
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