Bendigo and Adelaide Bank Limited

DB:BDJ Stock Report

Market Cap: €4.5b

Bendigo and Adelaide Bank Valuation

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

Below Fair Value: BDJ (€7.75) is trading below our estimate of fair value (€11.54)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BDJ. This is calculated by dividing BDJ's market cap by their current earnings.
What is BDJ's PE Ratio?
PE Ratio13.7x
EarningsAU$545.00m
Market CapAU$7.45b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BDJ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.3x
CBK Commerzbank
8.9x7.9%€19.0b
8354 Fukuoka Financial Group
10.7x10.3%JP¥748.5b
SFBS ServisFirst Bancshares
22.7x21.2%US$4.6b
GRKP Graubündner Kantonalbank
18.9x-2.5%CHF 4.4b
BDJ Bendigo and Adelaide Bank
13.7x2.4%€7.4b

Price-To-Earnings vs Peers: BDJ is good value based on its Price-To-Earnings Ratio (13.7x) compared to the peer average (15.3x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BDJ 13.7xIndustry Avg. 7.8xNo. of Companies43PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BDJ is expensive based on its Price-To-Earnings Ratio (13.7x) compared to the European Banks industry average (7.8x).

Price to Earnings Ratio vs Fair Ratio

What is BDJ'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.

BDJ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.7x
Fair PE Ratio9.5x

Price-To-Earnings vs Fair Ratio: BDJ is expensive based on its Price-To-Earnings Ratio (13.7x) compared to the estimated Fair Price-To-Earnings Ratio (9.5x).

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 BDJ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€7.75
€6.73
-13.1%
11.8%€8.64€5.66n/a12
Dec ’25€8.10
€6.81
-15.9%
10.1%€8.01€5.86n/a12
Nov ’25€7.20
€6.81
-5.4%
10.1%€8.01€5.86n/a12
Oct ’25€7.05
€6.83
-3.2%
9.9%€8.02€5.86n/a13
Sep ’25€7.20
€6.78
-5.8%
10.0%€7.90€5.77n/a14
Aug ’25€7.40
€6.51
-12.1%
10.7%€7.71€5.38n/a14
Jul ’25€6.95
€6.40
-7.9%
9.7%€7.68€5.35n/a14
Jun ’25€6.55
€6.37
-2.8%
9.7%€7.69€5.36n/a14
May ’25€5.80
€5.77
-0.5%
11.3%€7.56€4.82n/a14
Apr ’25€6.00
€5.77
-3.8%
11.3%€7.56€4.82n/a14
Mar ’25€5.75
€5.80
+0.8%
11.3%€7.61€4.85n/a14
Feb ’25€5.75
€5.59
-2.7%
8.0%€6.34€4.53n/a13
Jan ’25€5.85
€5.64
-3.6%
8.0%€6.45€4.61€7.7013
Dec ’24€5.35
€5.67
+5.9%
9.9%€7.03€4.52€8.1014
Nov ’24€5.15
€5.72
+11.0%
9.8%€7.01€4.51€7.2014
Oct ’24€5.35
€5.77
+7.9%
9.7%€7.06€4.54€7.0514
Sep ’24€5.55
€5.68
+2.3%
9.4%€6.92€4.45€7.2014
Aug ’24€5.55
€5.69
+2.5%
11.2%€7.11€4.27€7.4014
Jul ’24€5.15
€5.81
+12.8%
11.8%€7.12€4.27€6.9515
Jun ’24€5.15
€6.01
+16.6%
10.1%€7.18€4.87€6.5515
May ’24€5.10
€6.03
+18.3%
10.5%€7.44€4.85€5.8015
Apr ’24€5.25
€6.11
+16.4%
10.6%€7.45€4.86€6.0015
Mar ’24€6.10
€6.48
+6.3%
8.9%€7.72€5.04€5.7515
Feb ’24€6.45
€6.59
+2.2%
9.2%€7.83€5.11€5.7515
Jan ’24€6.15
€6.40
+4.0%
9.5%€7.63€4.98€5.8515

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/06 02:51
End of Day Share Price 2025/01/06 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Bendigo and Adelaide Bank Limited is covered by 29 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Anthony HooANZ Equities Pty Limited
Russell WrightAPP Securities Pty Ltd.
Jonathan MottBarrenjoey Markets Pty Limited