Crédit Agricole Valuation

Q: What is the Fair Price of ACA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ACA (CHF11.72) is trading below our estimate of [[fair value]] (CHF34.9)

Is ACA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: ACA (CHF11.72) is trading below our estimate of fair value (CHF34.9)

Significantly Below Fair Value: ACA is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ACA. This is calculated by dividing ACA's market cap by their current earnings.
What is ACA's PE Ratio?
PE Ratio	6.7x
Earnings	€6.04b
Market Cap	€40.36b

ACA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	1.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ACA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	14.8x
LLBN Liechtensteinische Landesbank	12.9x	n/a	CHF 2.1b
BCVN Banque Cantonale Vaudoise	16.7x	0.5%	CHF 7.5b
GRKP Graubündner Kantonalbank	18.9x	-2.5%	CHF 4.4b
BBRI Bank Rakyat Indonesia (Persero)	10.7x	9.5%	Rp655.3t
ACA Crédit Agricole	6.7x	3.7%	CHF 40.4b

Price-To-Earnings vs Peers: ACA is good value based on its Price-To-Earnings Ratio (6.7x) compared to the peer average (14.9x).

Price to Earnings Ratio vs Industry

How does ACA's PE Ratio compare vs other companies in the European Banks Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ACA is good value based on its Price-To-Earnings Ratio (6.7x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is ACA'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.

ACA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.7x
Fair PE Ratio	17.6x

Price-To-Earnings vs Fair Ratio: ACA is good value based on its Price-To-Earnings Ratio (6.7x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Lloyds Banking Group

UK£34.2b

Provides a range of banking and financial services in the United Kingdom and internationally.

LLOY

UK£0.76

Banco Bilbao Vizcaya Argentaria

€56.4b

Provides retail banking, wholesale banking, and asset management services in the United States, Spain, Mexico, Turkey, South America, and internationally.

BOY

€9.81

n/a

Société Générale Société anonyme

€17.6b

Provides banking and financial services to individuals, corporates, and institutional clients in Europe and internationally.

GLE

€26.68