ENXTBR:KBC

Stock Analysis Report

Executive Summary

KBC Group NV, together with its subsidiaries, provides integrated bank-insurance services primarily for retail, private banking, small and medium sized enterprises, and mid-cap clients.

Snowflake

Fundamentals

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

How has KBC Group's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.1%

ENXTBR:KBC

0.1%

BE Banks

1.7%

BE Market


1 Year Return

-12.4%

ENXTBR:KBC

-12.6%

BE Banks

2.4%

BE Market

KBC matched the Banks industry (-12.6%) over the past year.

KBC underperformed the Market in Belgium which returned 2.4% over the past year.


Share holder returns

KBCIndustryMarket
7 Day0.1%0.1%1.7%
30 Day11.8%6.8%3.1%
90 Day2.6%-3.8%6.1%
1 Year-8.9%-12.4%-7.7%-12.6%4.7%2.4%
3 Year19.3%8.0%15.3%-2.0%-3.1%-10.0%
5 Year55.1%36.9%-18.7%-38.7%24.0%8.5%

Price Volatility Vs. Market

How volatile is KBC Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is KBC Group undervalued based on future cash flows and its price relative to the stock market?

14%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

KBC Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).

KBC Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

KBC Group is overvalued based on earnings compared to the Europe Banks industry average.

KBC Group is good value based on earnings compared to the Belgium market.


Price Based on Expected Growth

KBC Group is poor value based on expected growth next year.


Price Based on Value of Assets

KBC Group is overvalued based on assets compared to the Europe Banks industry average.


Next Steps

Future Growth

How is KBC Group expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

0.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

KBC Group's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).

KBC Group's earnings are expected to grow by 0.2% yearly, however this is not considered high growth (20% yearly).

KBC Group's revenue growth is positive but not above the Belgium market average.

KBC Group's earnings growth is positive but not above the Belgium market average.

KBC Group's earnings growth is positive but not above the low risk savings rate of 0.8%.


Earnings per Share Growth Estimates


Future Return on Equity

KBC Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has KBC Group performed over the past 5 years?

19.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

KBC Group's year on year earnings growth rate has been positive over the past 5 years.

KBC Group's 1-year earnings growth is less than its 5-year average (5.7% vs 19.5%)

KBC Group's earnings growth has not exceeded the Europe Banks industry average in the past year (5.7% vs 5.7%).


Return on Equity

KBC Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

KBC Group used its assets more efficiently than the Europe Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if KBC Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is KBC Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

KBC Group has an acceptable proportion of non-loan assets held.

KBC Group has a low allowance for bad loans.

KBC Group's liabilities are made up of primarily low risk sources of funding.

KBC Group's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at KBC Group are broadly funded by customer deposits.

KBC Group has a high level of bad loans (greater than 2%).


Next Steps

Dividend

What is KBC Group's current dividend yield, its reliability and sustainability?

6.60%

Expected Dividend Yield


Upcoming Dividend Payment

Purchase KBC Group before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

KBC Group's pays a higher dividend yield than the bottom 25% of dividend payers in Belgium (2.27%).

KBC Group's dividend is above the markets top 25% of dividend payers in Belgium (4.47%).

KBC Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but KBC Group only paid a dividend in the past 9 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.6x coverage).


Next Steps

Management

What is the CEO of KBC Group's salary, the management and board of directors tenure and is there insider trading?

5.3yrs

Average management tenure


CEO

Johan Thijs (54yo)

7.3yrs

Tenure

€2,298,415

Compensation

Mr. Johan Thijs has been Group Chief Executive Officer and Executive Director of KBC Group NV and KBC Bank NV since May 3, 2012 and September 1, 2009 respectively and serves as it's Managing Director. Mr.  ...


CEO Compensation Analysis

Johan's remuneration is about average for companies of similar size in Belgium.

Johan's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

5.3yrs

Average Tenure

57yo

Average Age

The average tenure for the KBC Group management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

11.5yrs

Average Tenure

61yo

Average Age

The average tenure for the KBC Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • John Hollows (63yo)

    Chief Executive Officer of Czech Republic Business Unit

    • Tenure: 5.3yrs
    • Compensation: €1.44m
  • Luc Popelier (55yo)

    Chief Executive Officer of International Markets Business Unit

    • Tenure: 2.3yrs
    • Compensation: €1.46m
  • Johan Thijs (54yo)

    Group CEO

    • Tenure: 7.3yrs
    • Compensation: €2.30m
  • Rik Scheerlinck (63yo)

    CFO & Executive Director

    • Tenure: 2.3yrs
    • Compensation: €1.45m
  • Viviane Huybrecht

    General Manager of Corporate Communication

    • Tenure: 0yrs
  • Kurt De Baenst

    General Manager

    • Tenure: 0yrs
  • Erik Marcel Luts (59yo)

    Chief Innovation Officer

    • Tenure: 2.3yrs
    • Compensation: €1.45m
  • Johan Thiers

    Chief Financial Officer of Kbc Belgium B.U.

    • Tenure: 0yrs
  • Daniel Falque (56yo)

    Chief Executive Officer of Belgium Business Unit

    • Tenure: 7.3yrs
    • Compensation: €1.45m
  • Christine Van Rijsseghem (57yo)

    Chief Risk Officer & Executive Director

    • Tenure: 5.3yrs
    • Compensation: €1.47m

Board Members

  • Thomas Leysen (59yo)

    Chairman of the Board

    • Tenure: 7.9yrs
    • Compensation: €500.00k
  • Philippe Vlerick (64yo)

    Deputy Chairman of the Board

    • Tenure: 18.7yrs
    • Compensation: €110.00k
  • Marc Wittemans (62yo)

    Non-Executive Director

    • Tenure: 21.7yrs
    • Compensation: €150.00k
  • Theo Roussis (65yo)

    Non-Executive Director

    • Tenure: 22.7yrs
    • Compensation: €80.00k
  • Frank Donck (54yo)

    Non-Executive Director

    • Tenure: 16.4yrs
    • Compensation: €110.00k
  • John Hollows (63yo)

    Chief Executive Officer of Czech Republic Business Unit

    • Tenure: 5.3yrs
    • Compensation: €1.44m
  • Franky Depickere (60yo)

    Non-Executive Director

    • Tenure: 13yrs
    • Compensation: €251.25k
  • Johan Thijs (54yo)

    Group CEO

    • Tenure: 7.3yrs
    • Compensation: €2.30m
  • Rik Scheerlinck (63yo)

    CFO & Executive Director

    • Tenure: 2.3yrs
    • Compensation: €1.45m
  • Christine Van Rijsseghem (57yo)

    Chief Risk Officer & Executive Director

    • Tenure: 5.3yrs
    • Compensation: €1.47m

Company Information

KBC Group NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: KBC Group NV
  • Ticker: KBC
  • Exchange: ENXTBR
  • Founded: 1935
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €24.376b
  • Shares outstanding: 416.11m
  • Website: https://www.kbc.com

Number of Employees


Location

  • KBC Group NV
  • Havenlaan 2
  • Brussels
  • Brussels
  • 1080
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KBCENXTBR (Euronext Brussels)YesOrdinary SharesBEEURJan 1992
KDBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
KBCS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
0EYGLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
KBCBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
KBCWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
KBC1 NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992
KBCS.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008

Biography

KBC Group NV, together with its subsidiaries, provides integrated bank-insurance services primarily for retail, private banking, small and medium sized enterprises, and mid-cap clients. The company offers  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/18 20:46
End of Day Share Price2019/09/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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 here.