Banco Pan S.A.

BOVESPA:BPAN4 Stock Report

Market Cap: R$15.9b

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Banco Pan Future Growth

Future criteria checks 5/6

Banco Pan is forecast to grow earnings and revenue by 27.1% and 22.4% per annum respectively. EPS is expected to grow by 47.9% per annum. Return on equity is forecast to be 19.5% in 3 years.

Key information

27.1%

Earnings growth rate

47.94%

EPS growth rate

Banks earnings growth11.0%
Revenue growth rate22.4%
Future return on equity19.47%
Analyst coverage

Low

Last updated13 Dec 2025

Recent future growth updates

Recent updates

Narrative Update • Jan 24

BPAN4: Fair Value View Will Focus On Upcoming Extraordinary Meeting

Analysts have nudged their price target for Banco Pan to match a fair value of R$12.30. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E, which they see as better capturing the bank’s current risk and earnings profile.
Narrative Update • Jan 09

BPAN4: Full Takeover Proposal And Earnings Profile Will Guide Balanced Outlook

Analysts have raised their price target for Banco Pan to R$12.30, reflecting updated assumptions around the discount rate, revenue growth, profit margin and a slightly lower future P/E, which they consider a better reflection of the bank's risk and earnings profile. What's in the News Banco BTG Pactual S.A. proposed to acquire the remaining 44.40% stake in Banco Pan S.A. for BRL 5.6b on October 14, 2025, offering 0.125 Banco BTG Pactual share for each Banco Pan share, plus an additional undisclosed cash amount.
Narrative Update • Dec 23

BPAN4: Future Ownership Structure And Earnings Profile Will Shape Balanced Outlook

Analysts have nudged their price target for Banco Pan higher to R$12.30 from R$12.00, reflecting expectations of a richer future valuation multiple despite slightly slower growth and margin assumptions. What's in the News Banco Pan has called a Special and Extraordinary Shareholders Meeting for December 9, 2025 in São Paulo to deliberate corporate matters at its Avenida Paulista headquarters (Key Developments).
Narrative Update • Dec 09

BPAN4: Full Takeover And Meeting Outcomes Will Shape Balanced Outlook

Analysts have modestly raised their price target on Banco Pan to R$10.68 from R$10.36, reflecting slightly stronger expectations for revenue growth and valuation multiples despite a largely unchanged risk and profitability outlook. What's in the News Banco Pan has scheduled a Special and Extraordinary Shareholders Meeting for December 9, 2025, in São Paulo to deliberate corporate matters requiring shareholder approval (Key Developments).
Narrative Update • Nov 25

BPAN4: Upcoming Acquisition Will Shape Outlook Amid Mixed Profitability Changes

Analysts have raised their price target for Banco Pan to R$10.36 from R$9.32. They cite adjustments in revenue growth projections, profit margins, and increased future price-to-earnings expected for the company.
User avatar
New Narrative • Feb 09

2025 Initiatives In Payroll Lending And Vehicle Financing Open New Market Opportunities

Anticipated growth in payroll and private loans could enhance revenue and earnings through increased credit origination and market expansion.

Earnings and Revenue Growth Forecasts

BOVESPA:BPAN4 - Analysts future estimates and past financials data (BRL Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202717,788N/AN/AN/A2
12/31/202613,616920N/AN/A3
12/31/202511,685767N/AN/A2
9/30/202510,559631-5,862-5,736N/A
6/30/20258,322762N/AN/AN/A
3/31/20259,027783-2,934-2,770N/A
12/31/20249,661772-5,749-5,585N/A
9/30/20244,063653-8,496-8,321N/A
6/30/20245,828661-6,918-6,733N/A
3/31/20248,672614-5,868-5,639N/A
12/31/20239,130695-4,332-4,100N/A
9/30/20238,444697-6,199-5,948N/A
6/30/20238,149659-3,833-3,627N/A
3/31/20237,955611-3,465-3,268N/A
12/31/20227,495667-2,835-2,621N/A
9/30/20227,6006866,0816,299N/A
6/30/20227,6057352,8133,061N/A
3/31/20227,699904-3,352-3,159N/A
12/31/20217,336775-4,716-4,562N/A
9/30/20217,379749-10,960-10,872N/A
6/30/20216,857731-9,995-9,958N/A
3/31/20216,547584-1,771-1,737N/A
12/31/20206,437656-1,694-1,666N/A
9/30/20205,668652391434N/A
6/30/20205,436617-422-354N/A
3/31/20204,936590-2,630-2,549N/A
12/31/20194,821516-2,660-2,577N/A
9/30/20194,619422-4,442-4,363N/A
6/30/20194,471337N/A-3,632N/A
3/31/20194,303261N/A-3,098N/A
12/31/20184,317222N/A-2,495N/A
9/30/20184,549203N/A-437N/A
6/30/20184,453265N/A938N/A
3/31/20184,734265N/A1,694N/A
12/31/20174,839213N/A1,210N/A
9/30/20174,649158N/A-222N/A
6/30/20174,62234N/A-1,254N/A
3/31/20174,071-137N/A-2,500N/A
12/31/20163,489-237N/A-1,248N/A
9/30/20163,276-204N/A-715N/A
6/30/20163,051-146N/A49N/A
3/31/20163,241-15N/A598N/A
12/31/20153,3608N/A1,450N/A
9/30/20153,771201N/A-467N/A
6/30/20153,44487N/A-1,283N/A
3/31/20153,02113N/A-1,837N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BPAN4's forecast earnings growth (27.1% per year) is above the savings rate (11.8%).

Earnings vs Market: BPAN4's earnings (27.1% per year) are forecast to grow faster than the BR market (12.8% per year).

High Growth Earnings: BPAN4's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BPAN4's revenue (22.4% per year) is forecast to grow faster than the BR market (7% per year).

High Growth Revenue: BPAN4's revenue (22.4% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BPAN4's Return on Equity is forecast to be low in 3 years time (19.5%).

Discover growth companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/26 06:39
End of Day Share Price 2026/01/23 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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

Banco Pan S.A. is covered by 5 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Roberto de Aguiar AttuchBarclays
Brian FloresCitigroup Inc
Andre GargiuloGBM Grupo Bursátil Mexicano, S.A. de C.V. Casa de Bolsa