Bendigo and Adelaide Bank Limited

CHIA:BEN Stock Report

Market Cap: AU$7.6b

Bendigo and Adelaide Bank Valuation

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

Below Fair Value: BEN (A$13.47) is trading below our estimate of fair value (A$15.15)

Significantly Below Fair Value: BEN is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BEN. This is calculated by dividing BEN's market cap by their current earnings.
What is BEN's PE Ratio?
PE Ratio13.9x
EarningsAU$545.00m
Market CapAU$7.60b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BEN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.4x
BOQ Bank of Queensland
16x10.8%AU$4.5b
MYS MyState
12.9x11.9%AU$456.0m
ABA Auswide Bank
20.8x26.6%AU$233.1m
BFL BSP Financial Group
7.9xn/aAU$3.0b
BEN Bendigo and Adelaide Bank
13.9x2.4%AU$7.6b

Price-To-Earnings vs Peers: BEN is good value based on its Price-To-Earnings Ratio (13.9x) compared to the peer average (14.4x).

Price to Earnings Ratio vs Industry

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

18 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BEN 13.9xIndustry Avg. 10.2xNo. of Companies164PE0612182430+
18 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BEN is expensive based on its Price-To-Earnings Ratio (13.9x) compared to the Global Banks industry average (10.2x).

Price to Earnings Ratio vs Fair Ratio

What is BEN'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.

BEN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.9x
Fair PE Ratio13.9x

Price-To-Earnings vs Fair Ratio: BEN is expensive based on its Price-To-Earnings Ratio (13.9x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).

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 BEN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$13.47
AU$11.05
-18.0%
10.1%AU$13.00AU$9.50n/a12
Nov ’25AU$12.24
AU$11.05
-9.8%
10.1%AU$13.00AU$9.50n/a12
Oct ’25AU$11.56
AU$11.07
-4.2%
9.9%AU$13.00AU$9.50n/a13
Sep ’25AU$12.01
AU$11.17
-7.0%
10.0%AU$13.00AU$9.50n/a14
Aug ’25AU$12.56
AU$10.59
-15.7%
10.7%AU$12.55AU$8.75n/a14
Jul ’25AU$11.44
AU$10.47
-8.5%
9.7%AU$12.55AU$8.75n/a14
Jun ’25AU$10.91
AU$10.40
-4.7%
9.7%AU$12.55AU$8.75n/a14
May ’25AU$9.68
AU$9.58
-1.1%
11.3%AU$12.55AU$8.00n/a14
Apr ’25AU$10.25
AU$9.58
-6.6%
11.3%AU$12.55AU$8.00n/a14
Mar ’25AU$9.83
AU$9.56
-2.7%
11.3%AU$12.55AU$8.00n/a14
Feb ’25AU$9.64
AU$9.26
-3.9%
8.0%AU$10.50AU$7.50n/a13
Jan ’25AU$9.66
AU$9.18
-4.9%
8.0%AU$10.50AU$7.50n/a13
Dec ’24AU$9.03
AU$9.40
+4.1%
9.9%AU$11.66AU$7.50n/a14
Nov ’24AU$8.75
AU$9.51
+8.7%
9.8%AU$11.66AU$7.50AU$12.2414
Oct ’24AU$8.95
AU$9.54
+6.6%
9.7%AU$11.66AU$7.50AU$11.5614
Sep ’24AU$9.53
AU$9.57
+0.4%
9.4%AU$11.66AU$7.50AU$12.0114
Aug ’24AU$9.38
AU$9.33
-0.6%
11.2%AU$11.66AU$7.00AU$12.5614
Jul ’24AU$8.61
AU$9.52
+10.5%
11.8%AU$11.66AU$7.00AU$11.4415
Jun ’24AU$8.56
AU$9.75
+13.9%
10.1%AU$11.66AU$7.90AU$10.9115
May ’24AU$8.75
AU$9.82
+12.2%
10.5%AU$12.10AU$7.90AU$9.6815
Apr ’24AU$8.70
AU$9.93
+14.1%
10.6%AU$12.10AU$7.90AU$10.2515
Mar ’24AU$9.75
AU$10.17
+4.3%
8.9%AU$12.10AU$7.90AU$9.8315
Feb ’24AU$10.07
AU$10.18
+1.1%
9.2%AU$12.10AU$7.90AU$9.6415
Jan ’24AU$9.84
AU$10.14
+3.1%
9.5%AU$12.10AU$7.90AU$9.6615
Dec ’23AU$9.14
AU$9.54
+4.4%
13.0%AU$11.65AU$6.80AU$9.0315
Nov ’23AU$9.12
AU$9.60
+5.3%
11.7%AU$11.65AU$7.70AU$8.7515

Analyst Forecast: Target price is lower than the current share price.

Discover undervalued companies

ANZ Group Holdings

AU$92.7b

Provides various banking and financial products and services to retail, individuals and business customers in Australia and internationally.

ANZ

AU$31.17

7D

-3.4%

1Y

27.6%

East Gosford & Districts Financial Services

AU$402.9k

Provides community banking services under management rights to operate a franchised branch of Bendigo and Adelaide Bank Limited.

EGF

AU$0.41

7D

0%

1Y

-10.0%

ANZ Group Holdings

AU$92.7b

Provides various banking and financial products and services to retail, individuals and business customers in Australia and internationally.

ANZ

AU$31.18

7D

-3.6%

1Y

27.7%