Bank of Queensland Limited

DB:BXZ Stock Report

Market Cap: €2.8b

Bank of Queensland Valuation

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

Below Fair Value: BXZ (€4.22) is trading below our estimate of fair value (€6.93)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BXZ. This is calculated by dividing BXZ's market cap by their current earnings.
What is BXZ's PE Ratio?
PE Ratio16.1x
EarningsAU$284.00m
Market CapAU$4.57b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BXZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.9x
CBK Commerzbank
8x8.8%€17.1b
PCZ ProCredit Holding
4.4x10.7%€459.4m
WAFD WaFd
16.3x20.3%US$3.0b
CBCY.B Central Bancompany
10.8xn/aUS$2.9b
BXZ Bank of Queensland
16.1x10.8%€4.6b

Price-To-Earnings vs Peers: BXZ is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the peer average (9.9x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BXZ 16.1xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BXZ is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the European Banks industry average (7.2x).

Price to Earnings Ratio vs Fair Ratio

What is BXZ'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.

BXZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.1x
Fair PE Ratio10.6x

Price-To-Earnings vs Fair Ratio: BXZ is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the estimated Fair Price-To-Earnings Ratio (10.6x).

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 BXZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.22
€3.59
-15.0%
14.4%€4.60€2.45n/a13
Nov ’25€3.84
€3.65
-4.9%
14.3%€4.63€2.47n/a14
Oct ’25€3.80
€3.31
-12.8%
16.3%€4.55€2.43n/a15
Sep ’25€3.82
€3.31
-13.3%
16.3%€4.55€2.43n/a15
Aug ’25€3.76
€3.27
-13.0%
15.5%€4.56€2.43n/a15
Jul ’25€3.62
€3.27
-9.7%
15.5%€4.56€2.43n/a15
Jun ’25€3.50
€3.27
-6.6%
15.5%€4.56€2.43n/a15
May ’25€3.70
€3.27
-11.6%
15.5%€4.56€2.43n/a15
Apr ’25€3.76
€3.16
-16.0%
16.4%€4.82€2.41n/a14
Mar ’25€3.50
€3.18
-9.3%
16.4%€4.85€2.43n/a14
Feb ’25€3.54
€3.15
-11.0%
16.3%€4.83€2.42n/a14
Jan ’25€3.70
€3.16
-14.5%
16.1%€4.86€2.43n/a14
Dec ’24€3.32
€3.32
-0.008%
24.2%€5.71€2.41n/a15
Nov ’24€3.04
€3.32
+9.4%
24.1%€5.70€2.41€3.8415
Oct ’24€3.50
€3.63
+3.8%
21.3%€5.76€2.92€3.8015
Sep ’24€3.40
€3.62
+6.4%
20.3%€5.64€2.86€3.8215
Aug ’24€3.62
€3.69
+1.9%
19.6%€5.70€3.01€3.7615
Jul ’24€3.34
€3.78
+13.1%
18.8%€5.78€3.05€3.6216
Jun ’24€3.32
€3.84
+15.6%
17.7%€5.79€3.30€3.5016
May ’24€3.50
€3.95
+12.9%
15.8%€5.72€3.26€3.7016
Apr ’24€3.98
€4.60
+15.5%
17.3%€6.77€3.32€3.7615
Mar ’24€4.38
€4.97
+13.5%
15.0%€7.08€3.48€3.5015
Feb ’24€4.52
€5.14
+13.6%
14.8%€7.14€3.83€3.5415
Jan ’24€4.36
€5.07
+16.3%
14.3%€6.94€3.72€3.7015
Dec ’23€4.72
€5.32
+12.7%
13.9%€7.17€3.84€3.3215
Nov ’23€4.80
€5.41
+12.7%
12.8%€7.02€4.02€3.0415

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

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