Total Returns (Price + Dividend) 
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
1.38%
0%
1.38%
6 Months
7.97%
0%
7.97%
1 Year
28.75%
0%
28.75%
2 Years
-3.56%
0%
-3.56%
3 Years
17.31%
0%
17.31%
4 Years
0.78%
0%
0.78%
5 Years
-24.26%
0%
-24.26%
FNM SpA for the last several years.
Risk Adjusted Returns v/s 
News
No Recent News for the Company
Announcements 
No announcement available
Corporate Actions 
No corporate action available
Quality key factors 
Factor
Value
Sales Growth (5y)
21.90%
EBIT Growth (5y)
-289.78%
EBIT to Interest (avg)
-4.82
Debt to EBITDA (avg)
12.10
Net Debt to Equity (avg)
1.26
Sales to Capital Employed (avg)
0.42
Tax Ratio
33.78%
Dividend Payout Ratio
13.59%
Pledged Shares
0
Institutional Holding
0
ROCE (avg)
0
ROE (avg)
21.36%
Valuation key factors
Factor
Value
P/E Ratio
2
Industry P/E
Price to Book Value
0.51
EV to EBIT
-2.93
EV to EBITDA
-6.18
EV to Capital Employed
0.78
EV to Sales
1.26
PEG Ratio
0.03
Dividend Yield
NA
ROCE (Latest)
-26.68%
ROE (Latest)
29.94%
Technicals key factors
Indicator
Weekly
Monthly
MACD
Mildly Bearish
Bullish
RSI
No Signal
No Signal
Bollinger Bands
Bearish
Mildly Bullish
Moving Averages
Mildly Bullish (Daily)
KST
Mildly Bearish
Bullish
Dow Theory
No Trend
Mildly Bullish
OBV
Mildly Bearish
Bullish
Shareholding Snapshot
No data for shareholding present.
Shareholding Compare (%holding) 
No data for shareholding present.
Quarterly Results Snapshot (Consolidated) - Dec'25 - QoQ
Dec'25
Sep'25
Change(%)
Net Sales
155.20
161.20
-3.72%
Operating Profit (PBDIT) excl Other Income
-28.50
5.40
-627.78%
Interest
6.70
5.20
28.85%
Exceptional Items
-36.60
-1.30
-2,715.38%
Consolidate Net Profit
12.00
20.60
-41.75%
Operating Profit Margin (Excl OI)
-415.20%
-177.80%
-23.74%
USD in Million.
Net Sales
QoQ Growth in quarter ended Dec 2025 is -3.72% vs 6.05% in Sep 2025
Consolidated Net Profit
QoQ Growth in quarter ended Dec 2025 is -41.75% vs -36.02% in Sep 2025
Annual Results Snapshot (Consolidated) - Dec'25
Dec'25
Dec'24
Change(%)
Net Sales
604.30
580.20
4.15%
Operating Profit (PBDIT) excl Other Income
-73.80
-141.10
47.70%
Interest
19.00
26.70
-28.84%
Exceptional Items
-24.60
-60.40
59.27%
Consolidate Net Profit
76.40
59.60
28.19%
Operating Profit Margin (Excl OI)
-348.90%
-470.70%
12.18%
USD in Million.
Net Sales
YoY Growth in year ended Dec 2025 is 4.15% vs 2.76% in Dec 2024
Consolidated Net Profit
YoY Growth in year ended Dec 2025 is 28.19% vs -27.32% in Dec 2024
About FNM SpA 
FNM SpA
Construction
FNM SpA is an Italy-based holding company primarily engaged in the provision of railway transport services. The Company structures its business into three main sectors: Holding, Railway Infrastructure Management and Road Passenger Transport. The Holding sector includes the provision of accounting services; personnel administration; support to the project development; business and legal advice; purchases, tenders and contracts management; human resources management, and communication services, among others. In the Railway Infrastructure Management sector, the Company is active in the management, maintenance and construction of facilities for railway passenger transport in the region of Lombardy, Italy. In the Road Passenger Transport sector, it provides public transport bus services in the provinces of Varese, Como and Brescia, in Italy.
Company Coordinates 
Company Details
Piazzale Cadorna 14 , MILANO None : 20123
Registrar Details






