ING Bank Slaski S.A.

DB:6GF Stock Report

Market Cap: €7.0b

ING Bank Slaski Valuation

Is 6GF 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 6GF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6GF (€50.9) is trading below our estimate of fair value (€131.77)

Significantly Below Fair Value: 6GF is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6GF?

Key metric: As 6GF is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 6GF. This is calculated by dividing 6GF's market cap by their current earnings.
What is 6GF's PE Ratio?
PE Ratio7x
Earningszł4.33b
Market Capzł30.18b

Price to Earnings Ratio vs Peers

How does 6GF's PE Ratio compare to its peers?

The above table shows the PE ratio for 6GF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average6.9x
CBK Commerzbank
8x8.8%€17.1b
PCZ ProCredit Holding
4.4x10.7%€459.4m
MBK Merkur PrivatBank KgaA
10.1x8.6%€107.3m
EUROB Eurobank Ergasias Services and Holdings
5.2x-3.9%€7.4b
6GF ING Bank Slaski
7x-2.0%€30.2b

Price-To-Earnings vs Peers: 6GF is expensive based on its Price-To-Earnings Ratio (7x) compared to the peer average (6.9x).

Price to Earnings Ratio vs Industry

How does 6GF's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
6GF 7.0xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 6GF is good value based on its Price-To-Earnings Ratio (7x) compared to the European Banks industry average (7.2x).

Price to Earnings Ratio vs Fair Ratio

What is 6GF'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.

6GF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7x
Fair PE Ratio9.4x

Price-To-Earnings vs Fair Ratio: 6GF is good value based on its Price-To-Earnings Ratio (7x) compared to the estimated Fair Price-To-Earnings Ratio (9.4x).

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 6GF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€50.90
€69.14
+35.8%
15.9%€84.28€49.55n/a7
Nov ’25€55.60
€67.85
+22.0%
16.8%€83.38€49.02n/a7
Oct ’25€60.10
€68.75
+14.4%
16.8%€84.47€49.66n/a7
Sep ’25€62.10
€68.75
+10.7%
16.8%€84.47€49.66n/a7
Aug ’25€68.80
€68.70
-0.1%
16.5%€84.54€49.70n/a7
Jul ’25€69.10
€67.70
-2.0%
16.9%€84.13€49.46n/a7
Jun ’25€68.70
€69.83
+1.6%
18.4%€86.26€49.89n/a7
May ’25€72.80
€73.12
+0.4%
13.9%€85.49€55.49n/a6
Apr ’25€77.60
€68.45
-11.8%
13.8%€84.20€55.60n/a6
Mar ’25€71.30
€60.19
-15.6%
9.5%€70.13€53.57n/a7
Feb ’25€57.30
€58.23
+1.6%
15.7%€70.18€39.57n/a7
Jan ’25€59.00
€58.23
-1.3%
15.7%€70.22€39.60n/a7
Dec ’24€54.90
€53.41
-2.7%
15.3%€66.88€39.80n/a7
Nov ’24€47.95
€44.75
-6.7%
11.7%€54.04€38.32€55.607
Oct ’24€37.30
€42.52
+14.0%
11.3%€52.17€36.99€60.107
Sep ’24€41.85
€45.20
+8.0%
12.1%€54.28€38.49€62.107
Aug ’24€44.45
€45.36
+2.0%
12.1%€54.47€38.62€68.807
Jul ’24€40.25
€45.04
+11.9%
11.6%€54.61€38.64€69.107
Jun ’24€34.90
€41.95
+20.2%
13.8%€53.47€36.16€68.707
May ’24€34.10
€41.08
+20.5%
13.9%€52.59€35.57€72.807
Apr ’24€33.55
€40.70
+21.3%
13.3%€51.53€35.07€77.607
Mar ’24€35.05
€39.32
+12.2%
13.0%€51.24€34.87€71.307
Feb ’24€35.45
€39.32
+10.9%
13.0%€51.24€34.87€57.307
Jan ’24€35.00
€38.36
+9.6%
14.1%€51.39€34.97€59.007
Dec ’23€33.95
€38.13
+12.3%
14.8%€51.37€33.25€54.907
Nov ’23€33.95
€37.55
+10.6%
15.1%€49.73€32.19€47.956

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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