UniCredit S.p.A.

WBAG:UCG Stock Report

Market Cap: €71.7b

UniCredit Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 UCG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€74.31
Fair Value
39.4% undervalued intrinsic discount
18
Number of Analysts

Below Fair Value: UCG (€45) is trading below our estimate of fair value (€74.31)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for UCG. This is calculated by dividing UCG's market cap by their current earnings.
What is UCG's PE Ratio?
PE Ratio6.9x
Earnings€10.39b
Market Cap€71.68b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for UCG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.2x
EBS Erste Group Bank
8.4x-1.8%€26.1b
RBI Raiffeisen Bank International
4.4x-1.1%€7.7b
BG BAWAG Group
10.2x6.7%€6.9b
OBS Oberbank
13.6xn/a€4.9b
UCG UniCredit
6.9x-4.8%€71.7b

Price-To-Earnings vs Peers: UCG is good value based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (9.2x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
UCG 6.9xIndustry Avg. 8.3xNo. of Companies41PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: UCG is good value based on its Price-To-Earnings Ratio (6.9x) compared to the European Banks industry average (8.3x).

Price to Earnings Ratio vs Fair Ratio

What is UCG'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.

UCG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.9x
Fair PE Ratio6.8x

Price-To-Earnings vs Fair Ratio: UCG is expensive based on its Price-To-Earnings Ratio (6.9x) compared to the estimated Fair Price-To-Earnings Ratio (6.8x).

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 UCG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€45.00
€46.55
+3.5%
9.0%€54.00€35.00n/a18
Jan ’26€38.50
€46.76
+21.5%
9.9%€57.00€35.00n/a18
Dec ’25€36.14
€46.80
+29.5%
9.9%€57.00€35.00n/a18
Nov ’25€41.96
€45.50
+8.4%
9.7%€54.00€35.00n/a18
Oct ’25€39.21
€45.64
+16.4%
9.5%€54.00€35.00n/a20
Sep ’25€37.30
€45.56
+22.2%
9.8%€54.00€33.00n/a21
Aug ’25€36.20
€44.80
+23.8%
10.6%€54.00€33.00n/a21
Jul ’25€35.75
€42.88
+20.0%
10.0%€52.00€33.00n/a21
Jun ’25€36.81
€42.46
+15.3%
10.4%€52.00€33.00n/a21
May ’25€35.17
€39.85
+13.3%
10.7%€47.38€32.00n/a21
Apr ’25€35.50
€37.17
+4.7%
11.1%€47.00€30.70n/a21
Mar ’25€31.10
€36.50
+17.4%
10.7%€47.00€30.70n/a22
Feb ’25€26.97
€32.85
+21.8%
10.3%€39.90€27.10€44.4521
Jan ’25€24.43
€33.06
+35.3%
10.8%€39.90€27.10€38.5021
Dec ’24€25.09
€33.10
+31.9%
11.0%€40.50€27.10€36.1421
Nov ’24€23.75
€32.65
+37.5%
11.0%€40.50€27.10€41.9620
Oct ’24€22.59
€30.18
+33.6%
10.1%€37.00€23.40€39.2120
Sep ’24€22.74
€29.92
+31.6%
10.8%€37.00€23.40€37.3022
Aug ’24€22.46
€28.32
+26.1%
16.5%€37.00€12.20€36.2023
Jul ’24€21.32
€25.83
+21.1%
15.5%€33.00€12.20€35.7523
Jun ’24€18.66
€25.18
+35.0%
16.1%€31.50€12.20€36.8123
May ’24€18.70
€22.60
+20.9%
14.1%€26.50€12.20€35.1723
Apr ’24€17.60
€21.94
+24.6%
14.3%€27.00€12.20€35.5023
Mar ’24€18.90
€22.36
+18.3%
10.8%€27.00€16.42€31.1022
Feb ’24€18.06
€20.78
+15.0%
15.1%€25.25€12.20€26.9722
Analyst Price Target
Consensus Narrative from 18 Analysts
€45.34
Fair Value
0.7% undervalued intrinsic discount
18
Number of Analysts

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 Analysis2025/02/06 09:47
End of Day Share Price 2025/02/06 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.

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 Github.

Analyst Sources

UniCredit S.p.A. is covered by 52 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Marta Sánchez RomeroAhorro Corporación
Luigi TramontanaBanca Akros S.p.A. (ESN)
Javier Esteban LarioBanco de Sabadell. S.A.