KBC Group NV

ENXTBR:KBC Stock Report

Market Cap: €45.9b

KBC Group Future Growth

Future criteria checks 2/6

KBC Group is forecast to grow earnings and revenue by 9.8% and 7.7% per annum respectively. EPS is expected to grow by 10.2% per annum. Return on equity is forecast to be 16.3% in 3 years.

Key information

9.8%

Earnings growth rate

10.16%

EPS growth rate

Banks earnings growth8.0%
Revenue growth rate7.7%
Future return on equity16.27%
Analyst coverage

Good

Last updated24 Apr 2026

Recent future growth updates

Analysis Article • Feb 15

Here's What Analysts Are Forecasting For KBC Group NV (EBR:KBC) After Its Yearly Results

Shareholders might have noticed that KBC Group NV ( EBR:KBC ) filed its yearly result this time last week. The early...

Recent updates

Narrative Update • Apr 30

KBC: Future Returns Will Hinge On Steady Dividends And Cautious Earnings Expectations

The analyst fair value estimate for KBC Group edges slightly higher to about €121.17, as analysts factor in updated Street price targets clustered around €116 to €122 and largely steady assumptions on revenue growth, profit margin and forward P/E. Analyst Commentary Recent Street research on KBC Group clusters around price targets between €116 and €122.
Narrative Update • Apr 15

KBC: Future Returns Will Depend On Dividend Payouts And Execution Versus Cautious Street Revisions

The analyst price target for KBC Group is now set at €121.05, a slight adjustment supported by recent Street research in which firms have lifted their targets into a €116 to €122 range as analysts factor in updated views on discount rates, revenue growth, profit margins and future P/E assumptions. Analyst Commentary Recent Street research on KBC Group clusters around a tighter price target range between €116 and €122, with large banks such as JPMorgan now at the upper end of this band.
Narrative Update • Apr 01

KBC: Future Returns Will Hinge On Dividend Strength And Execution Versus Street Expectations

The analyst price target for KBC Group is updated to €121 from €115, with analysts pointing to revised assumptions around fair value, discount rate, revenue growth, profit margin and future P/E in the context of recent Street target increases to €116, €119 and €122. Analyst Commentary Recent Street research shows a cluster of revised targets between €116 and €122.
Narrative Update • Mar 17

KBC: Higher Dividend Commitment And Margin Assumptions Will Support Future Repricing

Analysts have lifted their average price targets on KBC Group into a range of about €116 to €122, with recent increases of roughly €10 to €22 per share, as they point to updated assumptions on revenue growth, profit margins and P/E multiples. Analyst Commentary Recent research updates show a cluster of higher price targets for KBC Group, with bullish analysts moving into a band between about €116 and €122.
Narrative Update • Mar 03

KBC: Higher Payout Commitment And Rising Profitability Assumptions Will Support Repricing

The analyst price target for KBC Group has been raised from €120 to €145 as analysts factor in updated assumptions on revenue growth, profit margins and future P/E, along with a series of recent Street target hikes from €94 to up to €122. Analyst Commentary Bullish analysts have been lifting their targets for KBC Group, pushing the top end of recent Street estimates toward €122 and providing a more supportive backdrop for the newly raised €145 target.
Narrative Update • Feb 17

KBC: Limited Upside Signals Future Pressure On Earnings Delivery

Analysts have made only minimal adjustments to their models, with recent price target changes around €0.20 and €1 reflecting fine tuning of discount rate, growth, margin, and P/E assumptions rather than a major shift in their view on KBC Group. Analyst Commentary Recent research has highlighted relatively small absolute shifts in KBC Group price targets, but the tone of some commentary leans cautious, especially around how current expectations line up with execution and growth risks.
Analysis Article • Feb 15

Here's What Analysts Are Forecasting For KBC Group NV (EBR:KBC) After Its Yearly Results

Shareholders might have noticed that KBC Group NV ( EBR:KBC ) filed its yearly result this time last week. The early...
Narrative Update • Feb 03

KBC: Future Returns Will Depend On Rate Backdrop And Execution Versus Street Expectations

The analyst price target for KBC Group has been raised from €108.97 to €115.09, as analysts factor in Street research that points to adjusted revenue growth assumptions, slightly higher profit margins, and updated future P/E expectations reflected in recent target changes from JPMorgan, Citi, and Morgan Stanley. Analyst Commentary Recent Street research around KBC Group reflects a mix of cautious and more optimistic adjustments, with price targets clustered in a relatively tight range and ratings split between Neutral and Overweight.
Narrative Update • Jan 20

KBC: Higher Deal Ambitions Will Likely Pressure Earnings Quality And P/E

Analysts have made only slight adjustments to their price targets for KBC Group, with changes of €0.20 lower at Citi, €4 higher at JPMorgan, and €1 higher at Morgan Stanley. These reflect updated views on revenue growth, profit margins, and future P/E assumptions, while our €87 fair value estimate remains unchanged.
Narrative Update • Jan 05

KBC: Future Returns Will Rely On Rate Backdrop And Execution Delivery

Analysts recently adjusted their stance on KBC Group with small shifts in price targets, including Citi trimming its view to €101 from €101.20, while JPMorgan and Morgan Stanley moved higher to €110 and €122 respectively. This led to only marginal tweaks in the underlying discount rate and assumed future P/E in our model without changing fair value.
Narrative Update • Dec 21

KBC: Rising Deal Ambitions Will Likely Expose Earnings Multiple To Compression

The analyst fair value estimate for KBC Group has been raised from EUR 74.53 to EUR 87.00. This reflects analysts' view that slightly lower discount rate assumptions, modestly improved profit margins, and higher long term valuation multiples justify a higher price target despite only incremental changes in revenue growth expectations.
Narrative Update • Dec 07

KBC: Future Returns Will Depend On ABN Amro Deal Path And Rate Backdrop

We trim our KBC Group price target slightly lower, reflecting a modestly reduced fair value of approximately EUR 109 from about EUR 109.50 as analysts balance marginally higher discount rate assumptions with steady improvements in revenue growth, profit margins, and longer term valuation multiples highlighted in recent Street research. Analyst Commentary Recent Street research on KBC Group reflects a broadly constructive stance on medium term fundamentals, with a minority of more cautious voices tempering upside expectations.
Narrative Update • Nov 23

KBC: Near-Term Outlook Will Hinge On ABN Amro M&A Developments And Market Stability

KBC Group's analyst price target has been raised from EUR 106.73 to EUR 109.47, as analysts cite increased projected revenue growth and stronger profit margins as key drivers for the higher valuation. Analyst Commentary Recent street research reflects a range of perspectives on KBC Group's outlook, with several major institutions raising their price targets in response to evolving performance and market dynamics.
Narrative Update • Nov 06

KBC: Recent Acquisition Discussions And Market Resilience Will Shape Near-Term Outlook

The analyst price target for KBC Group has been revised upward from €105.51 to €106.73. This reflects modest improvement in profit margin and overall outlook as highlighted by recent analyst updates.
Narrative Update • Oct 22

Analyst Commentary Highlights Rising Price Targets and Improved Outlook for KBC Group

The analyst price target for KBC Group has increased modestly to €105.51 from €104.83. This reflects analysts' recognition of improved revenue growth expectations and continued sector support.
Narrative Update • Oct 08

Digital Transformation And European Expansion Will Unlock Future Potential

The analyst price target for KBC Group has been increased from €102.96 to €104.83, reflecting modest upward revisions by analysts. These revisions are driven by improvements in forecast revenue growth and profit margins.
Narrative Update • Sep 19

Digital Transformation And European Expansion Will Unlock Future Potential

Analysts have raised KBC Group’s price target to €102.96, citing improving earnings momentum, robust capital generation, better asset quality, and operational efficiency amid a supportive macro environment. Analyst Commentary Bullish analysts cite improving earnings momentum and ongoing revenue growth as key drivers behind upward price target revisions.
Narrative Update • Sep 04

Digital Transformation And European Expansion Will Unlock Future Potential

Analysts maintain a positive view on KBC Group due to robust earnings growth, resilient operations, and attractive valuation, resulting in an unchanged consensus price target of €100.84. Analyst Commentary Bullish analysts cite stronger-than-expected earnings growth and operational resilience despite macroeconomic headwinds.
Analysis Article • Jun 20

Here's Why We Think KBC Group (EBR:KBC) Might Deserve Your Attention Today

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
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New Narrative • Nov 07

AI And Mobile App Transformation Set To Boost Productivity And Drive Revenue Growth

Digital transformation initiatives and strong market positioning could enhance productivity, sales, and revenue, improving net margins and interest income.

Earnings and Revenue Growth Forecasts

ENXTBR:KBC - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202815,3164,766N/AN/A9
12/31/202714,3704,347N/AN/A10
12/31/202613,4393,925N/AN/A10
12/31/202511,9253,4512,8354,201N/A
9/30/202511,5793,5753,1354,508N/A
6/30/202511,3123,4416,2467,624N/A
3/31/202510,8903,367-1,611-238N/A
12/31/202410,9403,3318,4809,848N/A
9/30/202410,8352,892-15,445-14,159N/A
6/30/202410,7882,901-19,837-18,597N/A
3/31/202410,8452,9422,9834,294N/A
12/31/202311,2393,338-21,549-20,194N/A
9/30/202310,8553,399-8,925-7,581N/A
6/30/202310,5913,274-15,288-14,040N/A
3/31/202310,3143,198-29,086-28,098N/A
12/31/20229,7322,7689,87410,791N/A
9/30/20229,4012,704-4,706-3,961N/A
6/30/20228,9352,553-2,411-1,627N/A
3/31/20228,4012,45912,48513,365N/A
12/31/20217,9052,56413,13314,043N/A
9/30/20217,6872,43930,94331,873N/A
6/30/20217,5582,53551,72952,681N/A
3/31/20216,7691,95251,61552,599N/A
12/31/20206,1221,39025,41626,369N/A
9/30/20206,3401,55425,49426,901N/A
6/30/20206,2931,46919,19620,527N/A
3/31/20206,9772,005-9,130-7,894N/A
12/31/20197,4072,433-3,641-2,462N/A
9/30/20197,2292,345N/A-19,899N/A
6/30/20197,3492,434N/A-15,724N/A
3/31/20197,3932,369N/A-13,764N/A
12/31/20187,5552,494N/A-7,962N/A
9/30/20187,5692,279N/A4,404N/A
6/30/20187,5562,269N/A2,297N/A
3/31/20187,6892,442N/A15,041N/A
12/31/20177,6612,523N/A12,863N/A
9/30/20177,7042,809N/A8,414N/A
6/30/20177,5242,747N/A11,838N/A
3/31/20177,2902,613N/A7,942N/A
12/31/20167,0352,375N/A2,970N/A
9/30/20166,6361,553N/A-1,747N/A
6/30/20166,6221,524N/A-5,332N/A
3/31/20166,6671,469N/A290N/A
12/31/20156,7871,587N/A1,140N/A
9/30/20156,9991,833N/A-5,424N/A
6/30/20156,8671,841N/A-2,947N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: KBC's forecast earnings growth (9.8% per year) is above the savings rate (2.4%).

Earnings vs Market: KBC's earnings (9.8% per year) are forecast to grow slower than the Belgian market (13.7% per year).

High Growth Earnings: KBC's earnings are forecast to grow, but not significantly.

Revenue vs Market: KBC's revenue (7.7% per year) is forecast to grow faster than the Belgian market (6.9% per year).

High Growth Revenue: KBC's revenue (7.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: KBC's Return on Equity is forecast to be low in 3 years time (16.3%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/08 12:07
End of Day Share Price 2026/05/08 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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

KBC Group NV is covered by 34 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Juan Lopez CoboBanco Santander
Flora Benhakoun BocahutBarclays
Kirishanthan VijayarajahBarclays