Bank Handlowy w Warszawie

Polish Digital Banking Will Thrive Yet Face Cyclical Risks

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

13 Mar 25

Updated

04 Dec 25

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

12.5%

7D

1.0%

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1Y

12.5%

7D

1.0%

You can edit this narrative until Dec 5 7:10 AM. Then, changes will post as Updates.

Author's Valuation

zł110.838.0% undervalued

AnalystConsensusTarget Fair Value

Shared on 04 Dec 25

Fair value Decreased 4.95%

BHW: Future Earnings Multiple Will Likely Balance Margin And Revenue Pressures

Analysts have trimmed their price target for Bank Handlowy w Warszawie from PLN 116.60 to PLN 110.83, citing expectations of slightly weaker revenue growth, a modestly lower profit margin, and a marginally higher discount rate. Despite these changes, the stock is now trading at a more attractive forward P/E multiple.

Shared on 20 Nov 25

Fair value Decreased 2.02%

BHW: Future Profit Margins Are Expected To Offset Revenue Headwinds

Analysts have revised their fair value estimate for Bank Handlowy w Warszawie downward from PLN 119 to PLN 116.60. They cited updated discount rates and adjustments to revenue growth projections as key factors behind the change.

Shared on 01 May 25

Fair value Increased 10%

Shared on 24 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 17 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 02 Apr 25

Fair value Decreased 1.05%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Decreased 0.48%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Decreased 7.94%

AnalystConsensusTarget has increased revenue growth from -1.0% to -2.4% and decreased discount rate from 10.2% to 8.6%.

AnalystConsensusTarget Fair Value

zł110.83

8.0% undervalued

Future estimation in

% p.a.

0

Decrease

Increase

Current revenue growth rate

-11.31%

Banks revenue growth rate

0.26%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

9.33%

Calculation

zł1.38b

Earnings '28

x

13.67x

PE Ratio '28

=

zł18.82b

Market Cap '28

zł18.82b

Market Cap '28

/

130.72m

No. shares '28

=

zł143.97

Share Price '28

zł143.97 Share Price '28

Discounted to 2025 @ 9.31% p.a.

=

zł110.23

Fair Value '25