FB Financial Corporation

DB:2J2 Stock Report

Market Cap: €2.5b

FB Financial Valuation

Is 2J2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 2J2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2J2 (€41.8) is trading below our estimate of fair value (€59.84)

Significantly Below Fair Value: 2J2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2J2?

Key metric: As 2J2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2J2. This is calculated by dividing 2J2's market cap by their current earnings.
What is 2J2's PE Ratio?
PE Ratio24.6x
EarningsUS$107.52m
Market CapUS$2.64b

Price to Earnings Ratio vs Peers

How does 2J2's PE Ratio compare to its peers?

The above table shows the PE ratio for 2J2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.2x
CBK Commerzbank
8.5x8.8%€18.2b
PCZ ProCredit Holding
4.2x9.9%€450.0m
1551 Guangzhou Rural Commercial Bank
10.6xn/aHK$22.6b
INTERBC1 Banco Internacional del PerúA. - Interbank
13.5xn/aS/10.1b
2J2 FB Financial
24.6x24.3%€2.6b

Price-To-Earnings vs Peers: 2J2 is expensive based on its Price-To-Earnings Ratio (24.6x) compared to the peer average (9.2x).

Price to Earnings Ratio vs Industry

How does 2J2's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2J2 24.6xIndustry Avg. 7.4xNo. of Companies46PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2J2 is expensive based on its Price-To-Earnings Ratio (24.6x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is 2J2'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.

2J2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.6x
Fair PE Ratio13.1x

Price-To-Earnings vs Fair Ratio: 2J2 is expensive based on its Price-To-Earnings Ratio (24.6x) compared to the estimated Fair Price-To-Earnings Ratio (13.1x).

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 2J2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€52.21
0%
8.7%€58.54€47.21n/a5
Nov ’25€44.80
€49.06
+9.5%
4.7%€51.55€46.03n/a5
Oct ’25€41.60
€43.66
+5.0%
6.5%€47.43€38.85n/a6
Sep ’25€42.80
€43.74
+2.2%
7.1%€48.01€39.32n/a6
Aug ’25€42.60
€43.74
+2.7%
7.1%€48.01€39.32n/a6
Jul ’25€36.00
€38.78
+7.7%
5.1%€42.05€35.51n/a6
Jun ’25€33.60
€38.39
+14.2%
5.7%€41.63€35.15n/a5
May ’25€33.80
€38.13
+12.8%
4.0%€40.48€35.78n/a6
Apr ’25€34.20
€36.99
+8.2%
4.7%€39.98€34.92n/a6
Mar ’25€32.40
€36.99
+14.2%
4.7%€39.98€34.92n/a6
Feb ’25€33.80
€36.99
+9.4%
4.7%€39.98€34.92n/a6
Jan ’25€36.20
€34.76
-4.0%
12.8%€41.77€29.96n/a7
Dec ’24€30.20
€31.94
+5.8%
4.7%€33.70€29.43n/a7
Nov ’24€27.40
€31.94
+16.6%
4.7%€33.70€29.43€44.807
Oct ’24€26.60
€29.53
+11.0%
7.1%€33.03€26.78€41.607
Sep ’24€27.60
€29.53
+7.0%
7.1%€33.03€26.78€42.807
Aug ’24€31.80
€29.53
-7.2%
7.1%€33.03€26.78€42.607
Jul ’24€25.60
€30.42
+18.8%
10.6%€37.72€25.76€36.008
Jun ’24€24.60
€29.98
+21.9%
11.4%€37.32€25.49€33.608
May ’24€26.00
€29.98
+15.3%
11.4%€37.32€25.49€33.808
Apr ’24€27.20
€36.27
+33.3%
8.2%€39.21€29.52€34.208
Mar ’24€35.00
€37.11
+6.0%
4.5%€39.37€34.27€32.408
Feb ’24€34.00
€36.86
+8.4%
4.4%€39.23€34.15€33.808
Jan ’24€33.80
€39.78
+17.7%
5.1%€43.06€36.50€36.208
Dec ’23€40.40
€45.16
+11.8%
6.3%€48.17€39.14€30.208
Nov ’23€41.60
€45.16
+8.6%
6.3%€48.17€39.14€27.408

Analyst Forecast: Target price is lower than the current share price.

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