MyState Valuation

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

Below Fair Value: MYS (A$4.07) is trading above our estimate of fair value (A$2.76)

Significantly Below Fair Value: MYS is trading above our estimate of fair value.


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MYS. This is calculated by dividing MYS's market cap by their current earnings.
What is MYS's PE Ratio?
PE Ratio12.8x
EarningsAU$35.29m
Market CapAU$451.54m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MYS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.1x
ABA Auswide Bank
19.5x26.6%AU$218.6m
BOQ Bank of Queensland
15.5x10.8%AU$4.4b
BEN Bendigo and Adelaide Bank
13.8x2.4%AU$7.5b
KSL Kina Securities
7.7x19.3%AU$305.2m
MYS MyState
12.8x11.9%AU$451.5m

Price-To-Earnings vs Peers: MYS is good value based on its Price-To-Earnings Ratio (12.8x) compared to the peer average (14.1x).


Price to Earnings Ratio vs Industry

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

18 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MYS 12.8xIndustry Avg. 10.3xNo. of Companies160PE0612182430+
18 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MYS is expensive based on its Price-To-Earnings Ratio (12.8x) compared to the Global Banks industry average (10.3x).


Price to Earnings Ratio vs Fair Ratio

What is MYS'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.

MYS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.8x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: MYS is good value based on its Price-To-Earnings Ratio (12.8x) compared to the estimated Fair Price-To-Earnings Ratio (13.4x).


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 MYS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$4.03
AU$4.77
+18.4%
0.6%AU$4.80AU$4.74n/a2
Dec ’25AU$4.11
AU$4.77
+16.1%
0.6%AU$4.80AU$4.74n/a2
Nov ’25AU$3.78
AU$4.56
+20.5%
5.4%AU$4.80AU$4.31n/a2
Oct ’25AU$3.57
AU$4.56
+27.6%
5.4%AU$4.80AU$4.31n/a2
Sep ’25AU$3.83
AU$4.56
+18.9%
5.4%AU$4.80AU$4.31n/a2
Aug ’25AU$3.91
AU$4.50
+15.1%
6.7%AU$4.80AU$4.20n/a2
Jul ’25AU$3.75
AU$4.39
+17.1%
9.3%AU$4.80AU$3.98n/a2
Jun ’25AU$3.59
AU$4.39
+22.3%
9.3%AU$4.80AU$3.98n/a2
May ’25AU$3.50
AU$4.38
+25.0%
9.7%AU$4.80AU$3.95n/a2
Apr ’25AU$3.66
AU$4.38
+19.5%
9.7%AU$4.80AU$3.95n/a2
Mar ’25AU$3.33
AU$4.38
+31.4%
9.7%AU$4.80AU$3.95n/a2

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


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