Erste Group Bank AG

WBAG:EBS Stock Report

Market Cap: €23.9b

Erste Group Bank Valuation

Is EBS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EBS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EBS (€59.22) is trading below our estimate of fair value (€131.37)

Significantly Below Fair Value: EBS is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EBS?

Key metric: As EBS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EBS. This is calculated by dividing EBS's market cap by their current earnings.
What is EBS's PE Ratio?
PE Ratio7.7x
Earnings€3.10b
Market Cap€23.89b

Price to Earnings Ratio vs Peers

How does EBS's PE Ratio compare to its peers?

The above table shows the PE ratio for EBS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.8x
BG BAWAG Group
9.3x6.5%€6.3b
RBI Raiffeisen Bank International
2.9x-7.9%€6.4b
OBS Oberbank
13.6xn/a€4.9b
BTS Bank für Tirol und Vorarlberg
9.6xn/a€2.1b
EBS Erste Group Bank
7.7x-2.0%€23.9b

Price-To-Earnings vs Peers: EBS is good value based on its Price-To-Earnings Ratio (7.7x) compared to the peer average (8.8x).

Price to Earnings Ratio vs Industry

How does EBS's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EBS 7.7xIndustry Avg. 7.7xNo. of Companies42PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EBS is expensive based on its Price-To-Earnings Ratio (7.7x) compared to the European Banks industry average (7.7x).

Price to Earnings Ratio vs Fair Ratio

What is EBS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EBS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.7x
Fair PE Ratio6.1x

Price-To-Earnings vs Fair Ratio: EBS is expensive based on its Price-To-Earnings Ratio (7.7x) compared to the estimated Fair Price-To-Earnings Ratio (6.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EBS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€59.22
€60.42
+2.0%
8.7%€71.00€51.61n/a15
Dec ’25€51.90
€59.03
+13.7%
7.4%€70.00€51.61n/a15
Nov ’25€51.70
€57.03
+10.3%
6.8%€68.00€51.61n/a15
Oct ’25€48.60
€55.65
+14.5%
8.6%€66.00€46.00n/a15
Sep ’25€49.51
€55.65
+12.4%
8.6%€66.00€46.00n/a15
Aug ’25€46.41
€52.26
+12.6%
9.7%€65.00€43.00n/a15
Jul ’25€45.09
€51.16
+13.5%
9.3%€60.00€43.00n/a15
Jun ’25€45.10
€50.59
+12.2%
9.3%€60.00€43.00n/a14
May ’25€43.87
€49.40
+12.6%
10.0%€60.00€43.00n/a14
Apr ’25€41.30
€47.37
+14.7%
11.5%€58.00€39.70n/a14
Mar ’25€37.33
€48.12
+28.9%
12.6%€60.00€39.70n/a15
Feb ’25€39.80
€47.25
+18.7%
11.9%€58.00€39.70n/a15
Jan ’25€36.73
€46.99
+27.9%
11.8%€58.00€39.70n/a15
Dec ’24€37.17
€46.85
+26.1%
10.8%€58.00€39.70€51.9015
Nov ’24€33.68
€46.45
+37.9%
11.3%€56.00€39.48€51.7014
Oct ’24€32.82
€46.00
+40.1%
11.6%€55.00€37.56€48.6014
Sep ’24€32.93
€46.00
+39.7%
11.2%€55.00€37.56€49.5115
Aug ’24€34.10
€45.83
+34.4%
11.1%€55.00€37.56€46.4115
Jul ’24€32.09
€44.47
+38.6%
13.3%€56.00€34.56€45.0915
Jun ’24€30.77
€44.47
+44.5%
13.3%€56.00€34.56€45.1015
May ’24€32.91
€44.44
+35.0%
13.4%€56.00€34.56€43.8715
Apr ’24€30.50
€43.53
+42.7%
14.3%€54.00€32.10€41.3016
Mar ’24€36.20
€42.46
+17.3%
15.9%€53.00€32.10€37.3316
Feb ’24€34.45
€41.65
+20.9%
15.7%€52.00€32.10€39.8016
Jan ’24€29.90
€41.13
+37.6%
16.1%€52.00€32.00€36.7316
Dec ’23€29.13
€41.08
+41.0%
16.1%€52.00€32.00€37.1716

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 09:28
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Erste Group Bank AG is covered by 45 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dieter HeinAlphaValue
Krishnendra DubeyBarclays
Ivan BokhmatBarclays