Erste Group Bank AG

SEP:ERBAG Stock Report

Market Cap: Kč591.9b

Erste Group Bank Valuation

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

Below Fair Value: ERBAG (CZK1465) is trading below our estimate of fair value (CZK2714.34)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ERBAG. This is calculated by dividing ERBAG's market cap by their current earnings.
What is ERBAG's PE Ratio?
PE Ratio7.6x
Earnings€3.10b
Market Cap€23.54b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ERBAG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.7x
KOMB Komercní banka
10.2x-0.8%Kč161.1b
MONET MONETA Money Bank
11.6x1.8%Kč63.3b
NBK National Bank of KuwaitK.P
13.2x3.5%د.ك7.5b
2891 CTBC Financial Holding
11.7x1.1%NT$767.2b
ERBAG Erste Group Bank
7.6x-2.0%Kč23.5b

Price-To-Earnings vs Peers: ERBAG is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (11.7x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ERBAG 7.6xIndustry Avg. 7.8xNo. of Companies42PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ERBAG is good value based on its Price-To-Earnings Ratio (7.6x) compared to the European Banks industry average (7.8x).

Price to Earnings Ratio vs Fair Ratio

What is ERBAG'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.

ERBAG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.6x
Fair PE Ratio11.7x

Price-To-Earnings vs Fair Ratio: ERBAG is good value based on its Price-To-Earnings Ratio (7.6x) compared to the estimated Fair Price-To-Earnings Ratio (11.7x).

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 ERBAG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentKč1,465.00
Kč1,511.18
+3.2%
8.7%Kč1,775.77Kč1,290.81n/a15
Dec ’25Kč1,293.50
Kč1,491.25
+15.3%
7.4%Kč1,768.36Kč1,303.79n/a15
Nov ’25Kč1,308.00
Kč1,443.92
+10.4%
6.8%Kč1,721.69Kč1,306.71n/a15
Oct ’25Kč1,233.00
Kč1,394.40
+13.1%
8.6%Kč1,653.83Kč1,152.67n/a15
Sep ’25Kč1,238.00
Kč1,394.40
+12.6%
8.6%Kč1,653.83Kč1,152.67n/a15
Aug ’25Kč1,196.00
Kč1,327.91
+11.0%
9.7%Kč1,651.76Kč1,092.70n/a15
Jul ’25Kč1,129.00
Kč1,281.99
+13.6%
9.3%Kč1,503.60Kč1,077.58n/a15
Jun ’25Kč1,116.50
Kč1,251.26
+12.1%
9.3%Kč1,484.02Kč1,063.55n/a14
May ’25Kč1,110.00
Kč1,239.29
+11.6%
10.0%Kč1,505.23Kč1,078.75n/a14
Apr ’25Kč1,042.00
Kč1,199.55
+15.1%
11.5%Kč1,468.60Kč1,005.23n/a14
Mar ’25Kč945.90
Kč1,220.35
+29.0%
12.6%Kč1,521.76Kč1,006.90n/a15
Feb ’25Kč994.00
Kč1,169.56
+17.7%
11.9%Kč1,435.67Kč982.69n/a15
Jan ’25Kč902.10
Kč1,147.67
+27.2%
11.8%Kč1,416.66Kč969.68Kč1,486.5015
Dec ’24Kč898.10
Kč1,139.22
+26.8%
10.8%Kč1,410.23Kč965.28Kč1,293.5015
Nov ’24Kč828.00
Kč1,141.55
+37.9%
11.3%Kč1,376.13Kč970.17Kč1,308.0014
Oct ’24Kč800.00
Kč1,123.41
+40.4%
11.6%Kč1,343.33Kč917.37Kč1,233.0014
Sep ’24Kč795.80
Kč1,110.65
+39.6%
11.2%Kč1,328.07Kč906.95Kč1,238.0015
Aug ’24Kč819.00
Kč1,097.65
+34.0%
11.1%Kč1,317.30Kč899.60Kč1,196.0015
Jul ’24Kč755.10
Kč1,049.68
+39.0%
13.3%Kč1,321.82Kč815.75Kč1,129.0015
Jun ’24Kč726.60
Kč1,049.68
+44.5%
13.3%Kč1,321.82Kč815.75Kč1,116.5015
May ’24Kč774.80
Kč1,045.73
+35.0%
13.4%Kč1,317.83Kč813.29Kč1,110.0015
Apr ’24Kč718.80
Kč1,023.79
+42.4%
14.3%Kč1,269.91Kč754.89Kč1,042.0016
Mar ’24Kč861.00
Kč991.02
+15.1%
15.9%Kč1,237.04Kč749.22Kč945.9016
Feb ’24Kč826.40
Kč990.04
+19.8%
15.7%Kč1,236.15Kč763.09Kč994.0016
Jan ’24Kč717.00
Kč997.84
+39.2%
16.1%Kč1,261.61Kč776.37Kč902.1016

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 06:35
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Erste Group Bank AG is covered by 45 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dieter HeinAlphaValue
Krishnendra DubeyBarclays
Ivan BokhmatBarclays