Best Italian Stocks: September 2026
Quality 94: wide operating margins and ROIC in the top 5% of its sector. Value 83: cheap on P/E and cheap on EV/EBITDA. Momentum 55: quarterly earnings growing but EPS deteriorating.
September 2026 edition · data as of ·Next edition forms ·How we score stocks·All Italy stocks, refreshed daily
Top 25 Italian Stocks by StockRank
| # | Stock | Yield | P/E | Score | Q | V | M | Style · Activity | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | PHIL.MI Philogen S.p.A. IT · Healthcare · $1B Quality 94: wide operating margins and ROIC in the top 5% of its sector. Value 83: cheap on P/E and cheap on EV/EBITDA. Momentum 55: quarterly earnings growing but EPS deteriorating. | Yield 3.0% | P/E 4.1 | 100 Score | 94 Q | 83 V | 55 M | Full HouseDeep dive → | |
| 2 | CALT.MI Caltagirone SpA IT · Basic Materials · $1.4B Value 84: below book value and cheap on P/E. Quality 69: F-Score 8/9 and high gross profitability. Momentum 69: near its 52-week high and above its moving averages. | Yield 3.1% | P/E 7.1 | 99 Score | 69 Q | 84 V | 69 M | Full House | |
| 3 | REY.MI Reply S.p.A. IT · Technology · $4.9B Quality 69: F-Score 8/9 and ROIC in the top 15% of its sector. Value 67: cheap on EV/EBITDA and cheap on P/E. Momentum 66: near its 52-week high and outperforming the market over 6 months. | Yield 1.2% | P/E 16.8 | 96 Score | 69 Q | 67 V | 66 M | Full HouseBuyback | |
| 4 | SFL.MI Safilo Group S.p.A. IT · Healthcare · $785.8M Quality 78: high gross profitability and F-Score 8/9. Value 75: cheap on free cash flow and cheap on sales. Momentum 50: estimates revised up but estimates cut. | Yield — | P/E 14.4 | 96 Score | 78 Q | 75 V | 50 M | Unloved QualityDir. buyDeep dive → | |
| 5 | FILA.MI F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. IT · Industrials · $622.3M Momentum 74: near its 52-week high and quarterly earnings growing. Value 73: a high yield and cheap on P/E. Quality 53: wide operating margins but thin interest cover. | Yield 6.0% | P/E 8.4 | 95 Score | 53 Q | 73 V | 74 M | Full House | |
| 6 | ANIM.MI Anima Holding SpA IT · Financial Services · $2.6B Quality 76: strong free cash flow and ROIC in the top 10% of its sector. Value 73: cheap on sales and cheap on EV/EBITDA. Momentum 50: near its 52-week high but estimates cut. | Yield 7.1% | P/E 8.5 | 94 Score | 76 Q | 73 V | 50 M | Unloved Quality | |
| 7 | DLG.MI De'Longhi S.p.A. IT · Consumer Cyclical · $6.7B Quality 77: F-Score 9/9 and strong free cash flow. Momentum 72: near its 52-week high and outperforming the market over 6 months. Value 46: far above book value. | Yield 2.2% | P/E 17.0 | 93 Score | 77 Q | 46 V | 72 M | Premium GrowerDeep dive → | |
| 8 | SL.MI Sanlorenzo S.p.A. IT · Consumer Cyclical · $1.5B Quality 66: ROIC in the top 10% of its sector and high return on equity. Momentum 66: estimates revised up and above its moving averages. Value 60: cheap on P/E. | Yield 2.8% | P/E 11.9 | 91 Score | 66 Q | 60 V | 66 M | Full House | |
| 9 | AZM.MI Azimut Holding S.p.A. IT · Financial Services · $6.3B Quality 74: high return on equity and interest well covered. Momentum 63: near its 52-week high and estimates revised up. Value 52: far above book value. | Yield 5.1% | P/E 10.5 | 90 Score | 74 Q | 52 V | 63 M | Full HouseDeep dive → | |
| 10 | CEM.MI Cementir Holding N.V. IT · Basic Materials · $2.4B Quality 77: high gross profitability and strong free cash flow. Value 74: cheap on free cash flow and cheap on EV/EBITDA. Momentum 38: lagging the market over 6 months. | Yield 2.2% | P/E 10.9 | 90 Score | 77 Q | 74 V | 38 M | Unloved Quality | |
| 11 | PIRC.MI Pirelli & C. S.p.A. IT · Consumer Cyclical · $8.1B Value 66: cheap on EV/EBITDA. Momentum 64: near its 52-week high and above its moving averages. Quality 59: wide operating margins. | Yield 3.8% | P/E 12.8 | 90 Score | 59 Q | 66 V | 64 M | Full House | |
| 12 | REC.MI Recordati Industria Chimica e Farmaceutica S.p.A. IT · Healthcare · $12.3B Quality 72: high return on equity and wide operating margins. Momentum 66: near its 52-week high. Value 50: far above book value. | Yield 1.3% | P/E 22.1 | 89 Score | 72 Q | 50 V | 66 M | Premium GrowerDir. buyDeep dive → | |
| 13 | ELN.MI EL.En. S.p.A. IT · Healthcare · $1.4B Quality 72: interest well covered and ROIC in the top 15% of its sector. Momentum 66: near its 52-week high and estimates revised up. Value 48: mixed. | Yield 1.5% | P/E 22.0 | 89 Score | 72 Q | 48 V | 66 M | Premium GrowerDeep dive → | |
| 14 | SES.MI SeSa S.p.A. IT · Technology · $1.6B Value 71: cheap on sales and cheap on free cash flow. Momentum 67: near its 52-week high and estimates revised up. Quality 48: ROIC in the top 25% of its sector but high debt. | Yield 1.3% | P/E 18.4 | 88 Score | 48 Q | 71 V | 67 M | Second Wind | |
| 15 | DIS.MI d'Amico International Shipping S.A. IT · Industrials · $1.1B Quality 65: wide operating margins and a liquid balance sheet. Value 65: cheap on P/E and a high yield. Momentum 55: quarterly earnings growing but EPS deteriorating. | Yield 4.2% | P/E 8.9 | 88 Score | 65 Q | 65 V | 55 M | Full House | |
| 16 | NWL.MI NewPrinces S.p.A. IT · Consumer Defensive · $850.6M Value 85: cheap on P/E and cheap on free cash flow. Quality 58: high return on equity but high debt. Momentum 39: EPS deteriorating. | Yield — | P/E 2.3 | 86 Score | 58 Q | 85 V | 39 M | Unloved Quality | |
| 17 | PRT.MI Esprinet S.p.A. IT · Technology · $456M Value 76: cheap on sales and below book value. Momentum 71: near its 52-week high and outperforming the market over 6 months. Quality 34: high debt. | Yield 4.2% | P/E 18.2 | 86 Score | 34 Q | 76 V | 71 M | Second Wind | |
| 18 | BMPS.MI Banca Monte dei Paschi di Siena S.p.A. IT · Financial Services · $41.2B Momentum 73: outperforming the market over 6 months and above its moving averages. Value 55: valuation ratios not meaningful for a financial. Quality 54: wide operating margins but a weak F-Score 3/7. | Yield 7.3% | P/E 9.8 | 86 Score | 54 Q | 55 V | 73 M | Full House | |
| 19 | UNI.MI Unipol Assicurazioni S.p.A. IT · Financial Services · $22B Momentum 72: above its moving averages and outperforming the market over 6 months. Quality 57: F-Score 6/7. Value 52: valuation ratios not meaningful for a financial. | Yield 3.9% | P/E 11.5 | 85 Score | 57 Q | 52 V | 72 M | Full House | |
| 20 | CRL.MI Carel Industries S.p.A. IT · Technology · $3.7B Quality 74: F-Score 8/9 and strong free cash flow. Momentum 68: estimates revised up and near its 52-week high. Value 39: far above book value. | Yield 0.7% | P/E 32.4 | 85 Score | 74 Q | 39 V | 68 M | Premium Grower | |
| 21 | IRE.MI Iren SpA IT · Utilities · $3.6B Value 66: cheap on sales and a high yield. Momentum 59: near its 52-week high but estimates cut. Quality 56: high gross profitability but thin operating margins. | Yield 5.6% | P/E 10.8 | 85 Score | 56 Q | 66 V | 59 M | Full House | |
| 22 | BZU.MI Buzzi S.p.A. IT · Basic Materials · $7.5B Value 76: cheap on P/E and cheap on EV/EBITDA. Quality 74: ROIC in the top 20% of its sector and interest well covered. Momentum 31: quarterly earnings shrinking. | Yield 1.8% | P/E 7.8 | 84 Score | 74 Q | 76 V | 31 M | Unloved Quality | |
| 23 | CIR.MI CIR S.p.A. - Compagnie Industriali Riunite IT · Consumer Cyclical · $727.2M Value 68: cheap on free cash flow and cheap on sales. Momentum 66: near its 52-week high and estimates revised up. Quality 46: F-Score 7/9 but high debt. | Yield — | P/E 12.7 | 84 Score | 46 Q | 68 V | 66 M | Second Wind | |
| 24 | TES.MI Tesmec S.p.A. IT · Industrials · $366.6M Momentum 93: outperforming the market over 6 months and above its moving averages. Quality 45: strong free cash flow but high debt. Value 42: cheap on free cash flow but expensive on EV/EBITDA. | Yield — | P/E — | 84 Score | 45 Q | 42 V | 93 M | Hot Air | |
| 25 | DIA.MI DiaSorin S.p.A. IT · Healthcare · $4.4B Momentum 66: near its 52-week high and outperforming the market over 6 months. Quality 63: wide operating margins and strong free cash flow. Value 52: mixed. | Yield 1.7% | P/E 28.2 | 84 Score | 63 Q | 52 V | 66 M | Full HouseBuyback |
Ranked by StockRank (Quality + Value + Momentum composite) at a minimum market cap of $250M. Yield and P/E are as of the data date; click a ticker for today’s price and score. A new edition is generated on the first scoring run of each month.
Director buying reported in the 90 days to : SFL.MI, REC.MI
Active share buybacks in the 180 days to : REY.MI, DIA.MI
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How Italy scores
Where the top 25 come from, and how the whole Italian market sits against the global universe. StockRank is a global percentile, so the universe splits evenly into five bands by construction; a market that piles up on the right is scoring well as a whole.
Top 25 by sector
- Healthcare5
- Consumer Cyclical4
- Financial Services4
- Technology4
- Basic Materials3
- Industrials3
- Other2
Share of Italian stocks by StockRank band
- 0-192% / 20%
- 20-3911% / 20%
- 40-5924% / 20%
- 60-7932% / 20%
- 80-10030% / 20%
Italyall markets
Banks, the State, and the Family Firms Behind Them
Italy is the eurozone's third-largest economy and one of its cheapest stock markets, a board where the state and a few families still control the largest names, the banks have been rebuilt from the ground up since 2016, and a long tail of family-run manufacturers in machinery, luxury, food and components sells to the world from provinces most investors have never visited. The list below is where Quality, Value and Momentum agree.
MoatMap scored 175 Italian stocks on 2026-09-25; 117 cleared the $250M market-cap floor this list applies. The market's average StockRank is 66. Healthcare is the most represented sector in the top 10 (2 names).
The Milan index has two faces. The first is the large caps: Intesa Sanpaolo and UniCredit, the two banks that spent a decade clearing bad loans and now sit among the most profitable in Europe; Enel and Eni, energy groups with the Treasury as the largest shareholder; Leonardo in defence, Generali in insurance, Stellantis and Ferrari in cars. State stakes and cross-shareholdings shape their capital allocation, and the Treasury's golden-power rules can block a foreign takeover of anything it deems strategic, so a persistently low multiple on one of them is partly a discount for that control. The second face is the mid caps, and it is where the screen tends to find its Quality: Brembo, Interpump, Amplifon, Recordati, De' Longhi, Campari and dozens of smaller listed manufacturers, most of them founder or family controlled and most of them leaders in a global niche.
Italian valuations have been low for most of two decades and the reasons are structural: slow growth, high public debt, a political cycle that changes governments frequently, and a domestic investor base that prefers bonds and property to equities. The result is that the Value pillar finds a lot here, and the discipline is to pair it with Quality. A cheap Italian bank in 2012 was a trap; a cheap Italian bank in 2023 was one of the best trades in Europe. The scores cannot tell you which year you are in, but the Momentum pillar tells you whether the market has started to change its mind, which is the question that separates the two.
Disclosure follows the EU Market Abuse Regulation and MoatMap reads it from both of the storage systems Consob authorises. Managers and closely associated persons file internal-dealing notifications within three business days as standardised forms carrying the person, the role, the instrument, the volume and the price; the blue chips mostly file through one storage and the smaller companies through the other, and the feed reads both. Buybacks (azioni proprie) are disclosed through the same channel as daily or weekly reports. The director-buying and buyback callouts below the table draw on those filings.
Access is straightforward through most international brokers, several of the largest names trade as US ADRs, and settlement is in euros. Italy withholds 26% on dividends paid to non-residents, reduced under treaties by reclaim, and it also levies a small financial-transaction tax on purchases of shares in larger Italian companies, which is worth knowing before trading actively. One structural detail: several Italian-founded companies (Stellantis, STMicroelectronics, Cementir, Tenaris) are now incorporated in the Netherlands or Luxembourg while keeping their Milan line, and they appear on this page because Milan remains a home market for them.
Frequently Asked Questions
- What are the best Italian stocks to buy right now?
- The table above ranks MoatMap's top 25 Borsa Italiana stocks by StockRank, a composite of Quality (ROIC, F-Score, leverage), Value (P/E, EV/EBITDA, P/B, shareholder yield) and Momentum (price trend plus earnings revisions). It refreshes monthly with a stated data date, and each ticker links to a full score breakdown.
- Why are Italian stocks so cheap?
- Slow growth, high public debt, frequent changes of government and a domestic investor base that prefers bonds and property have kept Italian multiples low for two decades. The Value pillar finds a lot in Milan as a result; the discipline is to read it with Quality and Momentum, which is what separated the bank trade of 2023 from the trap of 2012.
- How much of the Italian market is state-controlled?
- The Treasury or its holding company is the largest shareholder in Eni, Enel, Leonardo, Poste Italiane and several others, and golden-power rules let the government block foreign takeovers of anything it deems strategic. A persistently low multiple on one of those names is partly a discount for that control rather than a mispricing.
- Does MoatMap track Italian insider trades and buybacks?
- Yes. The Italy feed reads the standardised MAR Article 19 internal-dealing notifications from both Consob-authorised storage systems (the blue chips file through one, smaller companies through the other) and the own-shares buyback reports from the same channel. The director-buying and buyback callouts on this page draw on them.
- How can foreigners buy Italian stocks, and what about the taxes?
- Most international brokers offer Borsa Italiana access and several large names trade as US ADRs. Italy withholds 26% on dividends to non-residents, reduced under treaties by reclaim, and levies a small financial-transaction tax on purchases of larger Italian shares, so confirm both with your broker before comparing yields.
- How often does this Italy ranking refresh?
- A new edition forms on the first scoring run of each calendar month and the page states its data-as-of date. Underlying scores recompute nightly; for the daily view, use the ranked-stocks screener filtered to Italy.