CaixaBank Valuation

Is 48CA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 48CA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 48CA (€5.16) is trading below our estimate of fair value (€10.23)

Significantly Below Fair Value: 48CA is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 48CA?

Key metric: As 48CA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 48CA. This is calculated by dividing 48CA's market cap by their current earnings.
What is 48CA's PE Ratio?
PE Ratio7.6x
Earnings€5.13b
Market Cap€38.99b

Price to Earnings Ratio vs Peers

How does 48CA's PE Ratio compare to its peers?

The above table shows the PE ratio for 48CA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.6x
CBK Commerzbank
8.4x8.8%€17.9b
PCZ ProCredit Holding
4.4x12.2%€453.5m
MBK Merkur PrivatBank KgaA
10x8.6%€107.3m
NDA FI Nordea Bank Abp
7.7x-3.4%€38.8b
48CA CaixaBank
7.6x-1.1%€39.0b

Price-To-Earnings vs Peers: 48CA is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (7.6x).


Price to Earnings Ratio vs Industry

How does 48CA's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
48CA 7.6xIndustry Avg. 7.5xNo. of Companies43PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 48CA is expensive based on its Price-To-Earnings Ratio (7.6x) compared to the European Banks industry average (7.4x).


Price to Earnings Ratio vs Fair Ratio

What is 48CA'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.

48CA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.6x
Fair PE Ratio10.5x

Price-To-Earnings vs Fair Ratio: 48CA is good value based on its Price-To-Earnings Ratio (7.6x) compared to the estimated Fair Price-To-Earnings Ratio (10.5x).


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 48CA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.16
€6.44
+24.8%
8.5%€7.70€5.40n/a19
Nov ’25€5.67
€6.41
+13.1%
7.9%€7.60€5.45n/a19
Oct ’25€5.27
€6.45
+22.5%
8.1%€7.60€5.45n/a19
Sep ’25€5.46
€6.32
+15.8%
8.5%€7.40€5.45n/a20
Aug ’25€5.29
€6.21
+17.4%
9.4%€7.40€5.10n/a20
Jul ’25€5.01
€5.97
+19.2%
8.3%€6.80€5.10n/a20
Jun ’25€5.24
€5.91
+12.7%
8.1%€6.80€5.10n/a20
May ’25€4.95
€5.78
+16.7%
8.0%€6.80€5.00n/a20
Apr ’25€4.48
€5.45
+21.5%
9.7%€6.40€4.30n/a20
Mar ’25€4.25
€5.34
+25.6%
9.7%€6.40€4.30n/a21
Feb ’25€3.95
€5.24
+32.7%
9.4%€6.10€4.30n/a21
Jan ’25€3.70
€5.33
+44.2%
9.1%€6.30€4.30n/a21
Dec ’24€4.11
€5.36
+30.2%
9.0%€6.20€4.30€5.0821
Nov ’24€3.82
€5.33
+39.5%
8.9%€6.20€4.30€5.6720
Oct ’24€3.79
€5.04
+33.0%
8.6%€5.70€4.10€5.2720
Sep ’24€3.66
€5.00
+36.5%
8.8%€5.70€4.10€5.4621
Aug ’24€3.63
€4.91
+35.3%
9.0%€5.70€4.10€5.2921
Jul ’24€3.79
€4.77
+26.1%
8.6%€5.50€3.80€5.0121
Jun ’24€3.52
€4.72
+34.2%
8.9%€5.50€3.80€5.2419
May ’24€3.34
€4.70
+40.5%
6.8%€5.20€4.10€4.9518
Apr ’24€3.63
€4.64
+28.0%
7.5%€5.20€3.74€4.4819
Mar ’24€3.98
€4.55
+14.3%
8.3%€5.20€3.74€4.2519
Feb ’24€4.10
€4.21
+2.8%
9.9%€5.20€3.60€3.9519
Jan ’24€3.62
€4.17
+14.9%
9.9%€5.10€3.60€3.7019
Dec ’23€3.41
€4.17
+22.4%
10.0%€5.10€3.60€4.1118

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


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