SBI Sumishin Net Bank, Ltd.

DB:B0E Stock Report

Market Cap: €2.7b

SBI Sumishin Net Bank Valuation

Is B0E 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 B0E when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: B0E (€18) is trading below our estimate of fair value (€34.71)

Significantly Below Fair Value: B0E is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for B0E?

Key metric: As B0E is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for B0E. This is calculated by dividing B0E's market cap by their current earnings.
What is B0E's PE Ratio?
PE Ratio17.5x
EarningsJP¥25.02b
Market CapJP¥438.03b

Price to Earnings Ratio vs Peers

How does B0E's PE Ratio compare to its peers?

The above table shows the PE ratio for B0E vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.9x
PCZ ProCredit Holding
4.4x10.7%€461.8m
CBK Commerzbank
7.9x8.8%€16.9b
MBK Merkur PrivatBank KgaA
10x8.6%€108.9m
NBB National Bank of Bahrain B.S.C
13.1xn/aب.د1.1b
B0E SBI Sumishin Net Bank
17.5x25.7%€438.0b

Price-To-Earnings vs Peers: B0E is expensive based on its Price-To-Earnings Ratio (17.5x) compared to the peer average (8.9x).

Price to Earnings Ratio vs Industry

How does B0E's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
B0E 17.5xIndustry Avg. 7.2xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: B0E is expensive based on its Price-To-Earnings Ratio (17.5x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is B0E'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.

B0E PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.5x
Fair PE Ratio13.9x

Price-To-Earnings vs Fair Ratio: B0E is expensive based on its Price-To-Earnings Ratio (17.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).

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 B0E forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€18.00
€19.18
+6.6%
14.2%€22.82€13.39n/a7
Nov ’25€15.70
€19.59
+24.8%
13.6%€22.75€13.75n/a7
Oct ’25€17.00
€19.59
+15.3%
13.6%€22.75€13.75n/a7
Sep ’25€19.10
€19.58
+2.5%
13.2%€22.13€13.91n/a7
Aug ’25€19.70
€18.57
-5.7%
13.2%€21.00€13.20n/a7
Jul ’25€17.20
€16.50
-4.0%
14.9%€19.22€12.81n/a7
Jun ’25€17.40
€15.87
-8.8%
13.4%€19.07€13.11n/a7
May ’25€14.00
€15.56
+11.1%
18.9%€18.88€9.71n/a7
Apr ’25€13.30
€13.46
+1.2%
13.8%€15.23€9.95n/a5
Mar ’25€12.00
€12.37
+3.1%
13.3%€14.68€9.91n/a5
Feb ’25€10.70
€12.28
+14.8%
12.7%€14.71€10.02n/a6
Jan ’25€9.70
€12.49
+28.7%
12.7%€14.96€10.19n/a6
Dec ’24€10.40
€11.82
+13.7%
10.1%€13.56€9.86n/a6
Nov ’24€10.00
€12.07
+20.7%
9.9%€13.36€10.18€15.705
Oct ’24€9.80
€12.13
+23.8%
9.7%€13.77€10.49€17.004
Sep ’24€9.50
€12.13
+27.7%
9.7%€13.77€10.49€19.104
Aug ’24€10.10
€12.13
+20.1%
9.7%€13.77€10.49€19.704

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

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