Komercní banka Valuation

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

KOMB (CZK870) is trading below our estimate of [[fair value]] (CZK1165.26)

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

Valuation Score

3/6

Valuation Score 3/6

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

Discounted Cash Flow

Simply Wall St

Kč1.17k

Fair Value

25.3% undervalued

Number of Analysts

Below Fair Value: KOMB (CZK870) is trading below our estimate of fair value (CZK1165.26)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KOMB. This is calculated by dividing KOMB's market cap by their current earnings.
What is KOMB's PE Ratio?
PE Ratio	10.4x
Earnings	Kč15.80b
Market Cap	Kč164.30b

KOMB 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	-13.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KOMB 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	8.3x
MONET MONETA Money Bank	11.9x	2.5%	Kč64.9b
TCB Vietnam Technological and Commercial Bank	7.3x	18.5%	₫165.3t
RHBBANK RHB Bank Berhad	9.7x	6.7%	RM 27.9b
A316140 Woori Financial Group	4.5x	9.5%	₩11.5t
KOMB Komercní banka	10.4x	-0.8%	Kč164.3b

Price-To-Earnings vs Peers: KOMB is expensive based on its Price-To-Earnings Ratio (10.4x) compared to the peer average (8.3x).

Price to Earnings Ratio vs Industry

How does KOMB'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: KOMB is expensive based on its Price-To-Earnings Ratio (10.4x) compared to the European Banks industry average (7.9x).

Price to Earnings Ratio vs Fair Ratio

What is KOMB'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.

KOMB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10.4x
Fair PE Ratio	10.9x

Price-To-Earnings vs Fair Ratio: KOMB is good value based on its Price-To-Earnings Ratio (10.4x) compared to the estimated Fair Price-To-Earnings Ratio (10.9x).

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 KOMB forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	Kč870.00	Kč895.98 +3.0%	7.9%	Kč975.00	Kč770.00	n/a	11
Jan ’26	Kč848.50	Kč888.08 +4.7%	7.8%	Kč964.00	Kč770.00	n/a	10
Dec ’25	Kč815.00	Kč896.02 +9.9%	8.2%	Kč1,012.03	Kč770.00	n/a	11
Nov ’25	Kč805.00	Kč883.84 +9.8%	9.2%	Kč1,012.03	Kč750.00	n/a	11
Oct ’25	Kč794.00	Kč885.11 +11.5%	9.1%	Kč1,012.03	Kč750.00	n/a	11
Sep ’25	Kč767.50	Kč886.93 +15.6%	9.2%	Kč1,012.03	Kč750.00	n/a	11
Aug ’25	Kč790.00	Kč892.14 +12.9%	9.4%	Kč1,066.29	Kč740.00	n/a	11
Jul ’25	Kč783.00	Kč893.86 +14.2%	9.5%	Kč1,066.29	Kč740.00	n/a	11
Jun ’25	Kč778.00	Kč899.77 +15.7%	9.7%	Kč1,066.29	Kč740.00	n/a	11
May ’25	Kč869.50	Kč886.75 +2.0%	8.4%	Kč975.00	Kč730.00	n/a	11
Apr ’25	Kč840.00	Kč859.38 +2.3%	10.2%	Kč975.00	Kč730.00	n/a	11
Mar ’25	Kč815.50	Kč852.62 +4.6%	10.5%	Kč975.00	Kč730.00	n/a	10
Feb ’25	Kč752.00	Kč822.10 +9.3%	8.3%	Kč961.01	Kč730.00	n/a	10
Jan ’25	Kč724.50	Kč822.10 +13.5%	8.3%	Kč961.01	Kč730.00	Kč848.50	10
Dec ’24	Kč688.00	Kč813.56 +18.3%	8.9%	Kč961.01	Kč729.00	Kč815.00	10
Nov ’24	Kč680.00	Kč795.53 +17.0%	7.3%	Kč896.72	Kč700.00	Kč805.00	10
Oct ’24	Kč672.00	Kč813.61 +21.1%	8.3%	Kč926.07	Kč700.00	Kč794.00	11
Sep ’24	Kč699.50	Kč817.33 +16.8%	8.1%	Kč926.07	Kč700.00	Kč767.50	11
Aug ’24	Kč716.00	Kč822.34 +14.9%	10.5%	Kč940.00	Kč700.00	Kč790.00	11
Jul ’24	Kč664.50	Kč833.27 +25.4%	10.7%	Kč940.00	Kč700.00	Kč783.00	11
Jun ’24	Kč659.00	Kč833.27 +26.4%	10.7%	Kč940.00	Kč700.00	Kč778.00	11
May ’24	Kč688.50	Kč860.64 +25.0%	9.7%	Kč1,020.00	Kč710.00	Kč869.50	11
Apr ’24	Kč717.50	Kč855.37 +19.2%	9.5%	Kč1,020.00	Kč710.00	Kč840.00	12
Mar ’24	Kč748.50	Kč854.96 +14.2%	9.5%	Kč1,020.00	Kč710.00	Kč815.50	12
Feb ’24	Kč745.00	Kč871.54 +17.0%	12.6%	Kč1,100.00	Kč710.00	Kč752.00	12
Jan ’24	Kč655.00	Kč885.62 +35.2%	14.1%	Kč1,100.00	Kč710.00	Kč724.50	12

Analyst Price Target

Consensus Narrative from 11 Analysts

Kč895.98

Fair Value

2.9% undervalued

Number of Analysts

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

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/10 05:17
End of Day Share Price	2025/01/10 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Komercní banka, a.s. is covered by 33 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ivan Bokhmat	Barclays
Andreas Markou	Berenberg
Kamil Kliszcz	Biuro maklerskie mBanku