Bendigo and Adelaide Bank Valuation

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

BENPH (A$105.78) is trading below our estimate of [[fair value]] (A$132.56)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: BENPH (A$105.78) is trading below our estimate of fair value (A$132.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BENPH. This is calculated by dividing BENPH's market cap by their current earnings.
What is BENPH's PE Ratio?
PE Ratio	13.1x
Earnings	AU$530.30m
Market Cap	AU$6.92b

BENPH key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	4.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BENPH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	14.3x
BOQ Bank of Queensland	15.9x	10.8%	AU$4.5b
MYS MyState	12.8x	11.9%	AU$450.4m
ABA Auswide Bank	20.7x	26.6%	AU$232.1m
BFL BSP Financial Group	8x	n/a	AU$3.0b
BENPH Bendigo and Adelaide Bank	13.1x	2.8%	AU$6.9b

Price-To-Earnings vs Peers: BENPH is expensive based on its Price-To-Earnings Ratio (13.1x) compared to the peer average (11.8x).

Price to Earnings Ratio vs Industry

How does BENPH's PE Ratio compare vs other companies in the Global Banks Industry?

18 Companies	Price / Earnings	Estimated Growth	Market Cap

18 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: BENPH is expensive based on its Price-To-Earnings Ratio (13.1x) compared to the Global Banks industry average (9.6x).

Price to Earnings Ratio vs Fair Ratio

What is BENPH'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.

BENPH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.1x
Fair PE Ratio	12x

Price-To-Earnings vs Fair Ratio: BENPH is expensive based on its Price-To-Earnings Ratio (13.1x) compared to the estimated Fair Price-To-Earnings Ratio (12x).

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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