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  3. •

    Other transportation
FNM S.p.A.

FNM S.p.A.

0.39
EUR
+0.00
(-0.63%)
0.15EPS
3.14P/E
199.62MMarket Cap
Nov 12Next Earn
FNM S.p.A.
MIL:FNM
(Euronext Milan)

Recent

price

0.39

P/E

ratio

3.14

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
EUR
0.32
0.57
0.34
0.35
0.37
0.39
0.39
0.4
0.6
0.62
0.65
1.31
1.52
1.69
2.09
2.03
1.99
Revenue per Share
0.04
0.1
0.06
0.05
0.05
0.05
0.06
0.08
0.07
0.07
0.06
0.09
0.16
0.19
0.14
0.17
0.15
Basic EPS, GAAP
0.03
0.24
-0.07
0.12
-0.14
-0.01
-0.09
-0.11
0.15
0.09
-0.14
0.23
0.13
0.31
0.25
0.09
0.01
Free Cash Flow per Basic Share
- -
- -
- -
0.01
0.01
0.01
0.01
0.02
0.02
0.02
- -
- -
- -
0.02
0.02
0.02
- -
Dividend per Share
0.6
0.66
0.71
0.74
0.77
0.8
0.85
0.91
0.95
1
1.05
0.48
0.65
0.82
0.86
1.04
1.09
Book Value per Share
0.59
0.65
0.7
0.73
0.76
0.8
0.84
0.9
0.92
0.97
1.03
-0.15
-0.13
0.11
0.04
0.41
0.55
Tangible Book Value per Share
435
249
435
435
435
435
435
435
435
435
435
435
435
435
435
435
442
Basic Weighted Avg Shares
140
141
146
153
161
167
168
176
262
269
283
569
661
737
910
884
877
Sales/Revenue/Turnover
8.42
89.55
90.44
68.84
86.67
65.29
46.32
45.19
15
20.03
16.8
11.26
13.54
12.26
7.57
17.7
18.06
Operating Margin (%)
14
15
16
18
18
20
23
27
38
41
39
76
86
105
132
137
139
Depreciation Expense
18
25
24
20
21
20
26
35
28
30
24
41
68
81
59
74
65
Net Income, GAAP
35.74
39.64
10.75
24.46
21
21.37
18.97
15.76
21.38
13.87
12.95
28.44
28.9
22.29
28.19
20.17
25.52
Effective Tax Rate (%)
13.09
17.62
16.48
13.17
13.09
12.03
15.61
19.89
10.88
11.24
8.54
7.18
10.36
10.97
6.52
8.32
7.36
Profit Margin (%)
67
87
79
112
77
108
66
-3
119
-31
-29
78
66
97
42
-600
-620
Working Capital
27
28
26
25
23
83
82
86
124
56
54
831
806
751
717
72
107
LT Debt
260
285
307
322
336
350
368
398
435
454
477
228
307
376
411
490
511
Total Equity
2.45
1.95
4.5
3.96
3.88
3.66
3.36
4.09
3.87
3.82
-5.39
5.92
5.92
6.64
4.16
4.9
- -
Return on Invested Capital (%)
6.36
7.77
7.11
5.62
5.68
4.72
5.42
6.29
4.59
4.58
3.63
5.24
6.3
7.75
5.99
6.65
- -
Return on Capital (%)
7.33
9.14
8.12
6.4
6.4
5.87
7.32
9.16
7.03
7.14
5.43
12.3
27.91
25.3
16.26
17.83
- -
Return on Common Equity (%)

Capital Structure

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
734
697
688
LT Borrowings
51
92
91
LT Finance Leases
22
21
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
435
435
435
Market Capitalization
205
202
200

Working Capital

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
965
898
919
Cash, Cash Equivalents & STI
419
376
407
Accounts Receivable, Net
176
201
193
Inventories
20
20
23
Total Current Liabilities
1,564
1,500
1,538
Payables & Accruals
- -
- -
- -
ST Debt
734
697
688
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.56%
6.69%
19.48%
Free Cash Flow
36.69%
-52.37%
-62.02%
Net Income, GAAP
18.33%
30.41%
24.08%
Sales/Revenue/Turnover
21.11%
29.86%
-2.86%
Total Cash Common Dividend
- -
- -
-20%

Quarterly Revenue

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
163
219
218
292
910
2025
193
218
214
260
884
2026
180
223
- -
- -
- -

Quarterly Earnings Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
0.04
0.05
0.01
0.14
2025
0.03
0.07
0.05
0.03
0.17
2026
0.03
0.04
- -
- -
- -

Quarterly Dividends Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.02
2025
- -
- -
- -
- -
0.02
2026
- -
- -
- -
- -
- -
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Business
FNM S.p.A. operates as a prominent integrated mobility provider across Italy, with a primary focus on the Lombardy region, extending its reach to other Northern Italian areas and Southern Switzerland. The company oversees the administration and upkeep of railway networks, alongside offering diverse road passenger transportation solutions and managing significant motorway infrastructure. Its service portfolio encompasses regular train and express connections, including the Malpensa Express, in addition to dedicated railway replacement and school bus services, and comprehensive freight logistics. FNM is also engaged in advanced engineering, design, and project management for infrastructure development. Furthermore, the company provides innovative digital platforms for transport and mobility, integrated payment systems, and optical fiber solutions, while actively developing renewable energy initiatives such as photovoltaic and wind power generation. The group aims to significantly reduce CO2 emissions and expand its green energy footprint as part of its strategic vision. Formerly known as Ferrovie Nord Milano, the company was established in 1877 and maintains its headquarters in Milan, Italy.