Best Italian Stocks: November 2026
Quality 86: strong free cash flow and ROIC in the top 5% of its sector. Value 84: cheap on P/E and cheap on EV/EBITDA. Momentum 56: estimates revised up but EPS deteriorating.
As of 3 Nov 2026, Philogen S.p.A. (PHIL.MI) ranks first on MoatMap's November 2026 list of Italian stocks, with a MoatMap Score of 100/100, among stocks above its $250M market-cap floor. A research ranking, not investment advice.
November 2026 edition · data as of ·11 new, 11 out, biggest climb DIS.MI since October·Next edition forms ·How we score stocks·How past rankings did·All Italy stocks, refreshed daily
Top 25 Italian Stocks by MoatMap Score
- New in November 2026: Repsol, S.A. 1REP.MI, Fresenius Medical Care AG 1FME.MI, Koninklijke Philips N.V. 1PHIA.MI, Amgen Inc. 1AMGN.MI, SAP SE 1SAP.MI, Sanofi 1SAN.MI, Gas Plus S.p.A. GSP.MI, adidas AG 1ADS.MI, Apple Inc. 1AAPL.MI, Microsoft Corporation 1MSFT.MI, Fiera Milano S.p.A. FM.MI
- Dropped out: Sanlorenzo S.p.A. SL.MI, Azimut Holding S.p.A. AZM.MI, Pirelli & C. S.p.A. PIRC.MI, SeSa S.p.A. SES.MI, OVS S.p.A. OVS.MI, Unipol Assicurazioni S.p.A. UNI.MI, Esprinet S.p.A. PRT.MI, Tesmec S.p.A. TES.MI, Carel Industries S.p.A. CRL.MI, Iren SpA IRE.MI, CIR S.p.A. - Compagnie Industriali Riunite CIR.MI
- Biggest climbs: d'Amico International Shipping S.A. DIS.MI #14 to #5, NewPrinces S.p.A. NWL.MI #9 to #4, EL.En. S.p.A. ELN.MI #15 to #14
- Biggest falls: Reply S.p.A. REY.MI #4 to #19, Anima Holding SpA ANIM.MI #5 to #11, De'Longhi S.p.A. DLG.MI #7 to #13
What changed since October: 11 new, 11 out
- New in November 2026: Repsol, S.A. 1REP.MI, Fresenius Medical Care AG 1FME.MI, Koninklijke Philips N.V. 1PHIA.MI, Amgen Inc. 1AMGN.MI, SAP SE 1SAP.MI, Sanofi 1SAN.MI, Gas Plus S.p.A. GSP.MI, adidas AG 1ADS.MI, Apple Inc. 1AAPL.MI, Microsoft Corporation 1MSFT.MI, Fiera Milano S.p.A. FM.MI
- Dropped out: Sanlorenzo S.p.A. SL.MI, Azimut Holding S.p.A. AZM.MI, Pirelli & C. S.p.A. PIRC.MI, SeSa S.p.A. SES.MI, OVS S.p.A. OVS.MI, Unipol Assicurazioni S.p.A. UNI.MI, Esprinet S.p.A. PRT.MI, Tesmec S.p.A. TES.MI, Carel Industries S.p.A. CRL.MI, Iren SpA IRE.MI, CIR S.p.A. - Compagnie Industriali Riunite CIR.MI
- Biggest climbs: d'Amico International Shipping S.A. DIS.MI #14 to #5, NewPrinces S.p.A. NWL.MI #9 to #4, EL.En. S.p.A. ELN.MI #15 to #14
- Biggest falls: Reply S.p.A. REY.MI #4 to #19, Anima Holding SpA ANIM.MI #5 to #11, De'Longhi S.p.A. DLG.MI #7 to #13
| # | Stock | Yield | P/E | Score | Q | V | M | Style · Activity | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Yield 3.3% | P/E 3.7 | 100 Score | 86 Q | 84 V | 56 M | Full HouseDeep dive → | ||
| 2 | Value 84: below book value and cheap on free cash flow. Momentum 71: near its 52-week high and outperforming the market over 6 months. Quality 70: F-Score 8/9 and high gross profitability. | Yield 3.2% | P/E 6.6 | 99 Score | 70 Q | 84 V | 71 M | Full House | |
| 3 | Momentum 90: outperforming the market over 6 months and above its moving averages. Value 70: cheap on P/E and cheap on EV/EBITDA. Quality 65: high gross profitability and F-Score 7/9. | Yield 3.6% | P/E 5.1 | 99 Score | 65 Q | 70 V | 90 M | Full House | |
| 4 | Value 81: cheap on P/E and cheap on free cash flow. Momentum 80: estimates revised up and near its 52-week high. Quality 54: high return on equity but high debt. | Yield — | P/E 2.8 | 98 Score | 54 Q | 81 V | 80 M | Full House | |
| 5 | Momentum 75: estimates revised up and near its 52-week high. Quality 72: wide operating margins and a liquid balance sheet. Value 68: cheap on P/E and a high yield. | Yield 4.0% | P/E 9.7 | 98 Score | 72 Q | 68 V | 75 M | Full House | |
| 6 | Value 82: a high yield and cheap on P/E. Momentum 67: quarterly earnings growing and estimates revised up. Quality 63: wide operating margins and a liquid balance sheet. | Yield 11.6% | P/E 7.5 | 98 Score | 63 Q | 82 V | 67 M | Full House | |
| 7 | Value 84: cheap on free cash flow and cheap on sales. Momentum 69: near its 52-week high and outperforming the market over 6 months. Quality 55: F-Score 8/9 but a tight balance sheet. | Yield 3.8% | P/E 11.9 | 97 Score | 55 Q | 84 V | 69 M | Full House | |
| 8 | Quality 77: high gross profitability and F-Score 8/9. Value 69: cheap on sales and cheap on free cash flow. Momentum 62: near its 52-week high and outperforming the market over 6 months. | Yield — | P/E 16.4 | 97 Score | 77 Q | 69 V | 62 M | Full HouseDir. buyDeep dive → | |
| 9 | Momentum 73: near its 52-week high and quarterly earnings growing. Value 69: a high yield and cheap on sales. Quality 62: F-Score 7/9 and strong free cash flow. | Yield 4.0% | P/E 18.4 | 96 Score | 62 Q | 69 V | 73 M | Full House | |
| 10 | Momentum 91: near its 52-week high and outperforming the market over 6 months. Quality 71: high return on equity and wide operating margins. Value 42: far above book value. | Yield 2.5% | P/E 26.0 | 96 Score | 71 Q | 42 V | 91 M | Premium Grower | |
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| 11 | Quality 75: strong free cash flow and ROIC in the top 10% of its sector. Value 73: a high yield and cheap on EV/EBITDA. Momentum 53: near its 52-week high but EPS deteriorating. | Yield 7.1% | P/E 8.5 | 95 Score | 75 Q | 73 V | 53 M | Full House | |
| 12 | Momentum 80: near its 52-week high and outperforming the market over 6 months. Quality 75: F-Score 8/9 and wide operating margins. Value 44: expensive on sales. | Yield 1.3% | P/E 26.7 | 94 Score | 75 Q | 44 V | 80 M | Premium Grower | |
| 13 | Momentum 81: near its 52-week high and estimates revised up. Quality 77: F-Score 9/9 and strong free cash flow. Value 40: far above book value. | Yield 2.0% | P/E 19.0 | 94 Score | 77 Q | 40 V | 81 M | Premium GrowerDeep dive → | |
| 14 | Quality 81: interest well covered and ROIC in the top 10% of its sector. Momentum 65: near its 52-week high and outperforming the market over 6 months. Value 51: mixed. | Yield 1.5% | P/E 27.6 | 93 Score | 81 Q | 51 V | 65 M | Full HouseDeep dive → | |
| 15 | Value 74: a high yield and cheap on EV/EBITDA. Momentum 62: near its 52-week high and outperforming the market over 6 months. Quality 60: F-Score 7/9 and wide operating margins. | Yield 5.8% | P/E 20.5 | 93 Score | 60 Q | 74 V | 62 M | Full House | |
| 16 | Momentum 75: near its 52-week high and estimates revised up. Quality 72: high return on equity and wide operating margins. Value 48: far above book value. | Yield 1.3% | P/E 22.3 | 92 Score | 72 Q | 48 V | 75 M | Premium GrowerDir. buyDeep dive → | |
| 17 | Quality 76: high gross profitability and strong free cash flow. Value 68: cheap on EV/EBITDA and cheap on free cash flow. Momentum 50: outperforming the market over 6 months but estimates cut. | Yield 2.2% | P/E 12.5 | 92 Score | 76 Q | 68 V | 50 M | Unloved Quality | |
| 18 | Value 67: cheap on EV/EBITDA and cheap on free cash flow. Quality 64: F-Score 8/9 and strong free cash flow. Momentum 64: outperforming the market over 6 months and near its 52-week high. | Yield 3.3% | P/E 13.0 | 92 Score | 64 Q | 67 V | 64 M | Full House | |
| 19 | Momentum 68: near its 52-week high and outperforming the market over 6 months. Quality 68: F-Score 8/9 and ROIC in the top 15% of its sector. Value 57: mixed. | Yield 1.0% | P/E 24.3 | 91 Score | 68 Q | 57 V | 68 M | Full HouseBuyback | |
| 20 | Quality 74: high gross profitability and high return on equity. Momentum 73: near its 52-week high and outperforming the market over 6 months. Value 43: far above book value. | Yield 2.0% | P/E 15.5 | 89 Score | 74 Q | 43 V | 73 M | Premium Grower | |
| 21 | Quality 83: high return on equity and ROIC in the top 5% of its sector. Momentum 81: near its 52-week high and outperforming the market over 6 months. Value 25: far above book value. | Yield 0.3% | P/E 39.4 | 89 Score | 83 Q | 25 V | 81 M | Premium Grower | |
| 22 | Momentum 83: near its 52-week high and above its moving averages. Quality 73: wide operating margins and high return on equity. Value 31: far above book value. | Yield 0.7% | P/E 27.8 | 88 Score | 73 Q | 31 V | 83 M | Premium Grower | |
| 23 | Quality 74: high return on equity and strong free cash flow. Value 73: cheap on P/E and cheap on free cash flow. Momentum 40: EPS deteriorating. | Yield 3.5% | P/E 6.5 | 88 Score | 74 Q | 73 V | 40 M | Unloved QualityBuyback | |
| 24 | Quality 73: ROIC in the top 20% of its sector and interest well covered. Value 69: cheap on P/E and cheap on EV/EBITDA. Momentum 44: near its 52-week high but quarterly earnings shrinking. | Yield 1.7% | P/E 8.4 | 87 Score | 73 Q | 69 V | 44 M | Unloved Quality | |
| 25 | Momentum 71: above its moving averages and outperforming the market over 6 months. Value 59: valuation ratios not meaningful for a financial. Quality 56: wide operating margins but a weak F-Score 3/7. | Yield 7.9% | P/E 9.1 | 87 Score | 56 Q | 59 V | 71 M | Full House | |
Ranked by MoatMap Score (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 : Safilo Group S.p.A. SFL.MI, Recordati Industria Chimica e Farmaceutica S.p.A. REC.MI
Active share buybacks in the 180 days to : Reply S.p.A. REY.MI, Fiera Milano S.p.A. FM.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. The MoatMap Score is a global percentile, so the universe splits evenly into five bands by construction; a market with more of its stocks in the upper bands is scoring well as a whole.
Top 25 by sector
- Healthcare8
- Technology4
- Basic Materials3
- Industrials3
- Consumer Cyclical2
- Energy2
- Other3
Share of Italian stocks by MoatMap Score band
- 0-194% / 20%
- 20-3913% / 20%
- 40-5925% / 20%
- 60-7932% / 20%
- 80-10025% / 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 266 Italian stocks on 2026-11-03; 178 cleared the $250M market-cap floor this list applies. The market's average MoatMap Score is 63. Healthcare is the most represented sector in the top 10 (5 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 top-ranked Italian stocks right now?
- The table above ranks the top 25 Borsa Italiana stocks by MoatMap Score, a composite of Quality (returns on capital, cash conversion, balance sheet), Value (six price ratios, from P/E to dividend yield) and Momentum (price trend and 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 list filtered to Italy.