UniCredit S.p.A.

WBAG:UCG Stock Report

Market Cap: €115.2b

UniCredit Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow 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.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: UCG (€74.01) is trading below our estimate of future cash flow value (€101.14)

Significantly Below Future Cash Flow Value: UCG is trading below future cash flow 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 Ratio11x
Earnings€10.47b
Market Cap€115.17b

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 Average12.9x
EBS Erste Group Bank
13.6x11.69%€41.6b
RBI Raiffeisen Bank International
10.1x12.47%€13.8b
BG BAWAG Group
12.4x7.65%€10.5b
OBS Oberbank
15.5xn/a€5.5b
UCG UniCredit
11x1.98%€115.2b

Price-To-Earnings vs Peers: UCG is good value based on its Price-To-Earnings Ratio (11x) compared to the peer average (12.9x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
UCG 11.0xIndustry Avg. 11.4xNo. of Companies41PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: UCG is good value based on its Price-To-Earnings Ratio (11x) compared to the European Banks industry average (11.4x).

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 Ratio11x
Fair PE Ratio12.2x

Price-To-Earnings vs Fair Ratio: UCG is good value based on its Price-To-Earnings Ratio (11x) compared to the estimated Fair Price-To-Earnings Ratio (12.2x).

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€74.01
€76.42
+3.25%
11.22%€88.00€57.00n/a18
Jan ’27€70.98
€71.40
+0.60%
10.10%€84.30€57.00n/a18
Dec ’26€64.81
€71.12
+9.73%
10.28%€84.30€57.00n/a17
Nov ’26€63.39
€70.44
+11.13%
10.08%€84.30€57.00n/a17
Oct ’26€64.79
€69.50
+7.28%
10.48%€80.50€57.00n/a16
Sep ’26€66.51
€67.67
+1.74%
8.82%€77.10€57.00n/a16
Aug ’26€62.30
€66.17
+6.21%
7.77%€75.00€57.00n/a15
Jul ’26€55.88
€59.23
+5.99%
15.56%€73.00€35.00n/a17
Jun ’26€56.81
€56.47
-0.59%
16.84%€68.00€35.00n/a17
May ’26€50.70
€53.00
+4.53%
15.84%€70.00€35.00n/a18
Apr ’26€52.68
€52.51
-0.33%
15.98%€69.00€35.00n/a18
Mar ’26€49.25
€49.00
-0.51%
10.28%€57.00€35.00n/a18
Feb ’26€44.45
€46.55
+4.73%
9.00%€54.00€35.00€73.3218
Jan ’26€38.50
€46.76
+21.46%
9.87%€57.00€35.00€70.9818
Dec ’25€36.14
€46.80
+29.50%
9.87%€57.00€35.00€64.8118
Nov ’25€41.96
€45.50
+8.44%
9.66%€54.00€35.00€63.3918
Oct ’25€39.21
€45.64
+16.39%
9.55%€54.00€35.00€64.7920
Sep ’25€37.30
€45.56
+22.16%
9.84%€54.00€33.00€66.5121
Aug ’25€36.20
€44.80
+23.77%
10.61%€54.00€33.00€62.3021
Jul ’25€35.75
€42.88
+19.97%
9.95%€52.00€33.00€55.8821
Jun ’25€36.81
€42.46
+15.34%
10.43%€52.00€33.00€56.8121
May ’25€35.17
€39.85
+13.33%
10.71%€47.38€32.00€50.7021
Apr ’25€35.50
€37.17
+4.70%
11.15%€47.00€30.70€52.6821
Mar ’25€31.10
€36.50
+17.37%
10.68%€47.00€30.70€49.2522
Feb ’25€26.97
€32.85
+21.84%
10.33%€39.90€27.10€44.4521
€76.49
Fair Value
3.2% 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 Analysis2026/02/06 05:11
End of Day Share Price 2026/02/06 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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 40 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Irene RossettoBanca Akros S.p.A. (ESN)
Javier Esteban LarioBanco de Sabadell. S.A.
Juan Lopez CoboBanco Santander