Eurobank Ergasias Services and Holdings S.A.

DB:EFGD Stock Report

Market Cap: €7.3b

Eurobank Ergasias Services and Holdings Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: EFGD (€1.99) is trading below our estimate of fair value (€4.63)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for EFGD. This is calculated by dividing EFGD's market cap by their current earnings.
What is EFGD's PE Ratio?
PE Ratio5.1x
Earnings€1.43b
Market Cap€7.26b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for EFGD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.8x
CBK Commerzbank
8.9x8.8%€19.3b
PCZ ProCredit Holding
4.2x9.9%€444.1m
MBK Merkur PrivatBank KgaA
10.4x8.6%€111.2m
BOUBYAN Boubyan Bank K.S.C.P
27.7x14.0%د.ك2.4b
EFGD Eurobank Ergasias Services and Holdings
5.1x-3.6%€7.3b

Price-To-Earnings vs Peers: EFGD is good value based on its Price-To-Earnings Ratio (5.1x) compared to the peer average (12.8x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EFGD 5.1xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EFGD is good value based on its Price-To-Earnings Ratio (5.1x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is EFGD'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.

EFGD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.1x
Fair PE Ratio9.1x

Price-To-Earnings vs Fair Ratio: EFGD is good value based on its Price-To-Earnings Ratio (5.1x) compared to the estimated Fair Price-To-Earnings Ratio (9.1x).

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 EFGD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.99
€2.73
+37.1%
13.6%€3.50€2.08n/a15
Nov ’25€1.90
€2.72
+43.3%
13.4%€3.50€2.08n/a15
Oct ’25€2.06
€2.76
+34.2%
12.7%€3.50€2.08n/a14
Sep ’25€2.02
€2.72
+34.7%
13.4%€3.50€2.08n/a14
Aug ’25€2.09
€2.66
+27.4%
14.3%€3.50€2.08n/a14
Jul ’25€2.05
€2.58
+25.8%
15.1%€3.50€2.08n/a13
Jun ’25€2.01
€2.45
+21.8%
12.5%€3.30€2.00n/a13
May ’25€1.97
€2.37
+20.2%
7.5%€2.60€2.00n/a12
Apr ’25€1.75
€2.28
+30.5%
10.0%€2.55€1.80n/a12
Mar ’25€1.91
€2.21
+15.8%
8.8%€2.40€1.80n/a11
Feb ’25€1.74
€2.16
+24.5%
9.5%€2.40€1.80n/a11
Jan ’25€1.58
€2.09
+32.4%
12.2%€2.60€1.70n/a12
Dec ’24€1.68
€2.09
+24.7%
12.2%€2.60€1.70n/a12
Nov ’24€1.51
€2.05
+35.5%
11.5%€2.60€1.70€1.9011
Oct ’24€1.42
€2.03
+43.0%
9.5%€2.40€1.70€2.0611
Sep ’24€1.60
€1.96
+22.5%
7.4%€2.15€1.70€2.0211
Aug ’24€1.57
€1.91
+21.9%
7.1%€2.15€1.70€2.0911
Jul ’24€1.51
€1.79
+18.4%
10.8%€2.10€1.30€2.0511
Jun ’24€1.43
€1.65
+15.2%
8.6%€1.80€1.30€2.0111
May ’24€1.32
€1.57
+19.2%
9.2%€1.80€1.30€1.9711
Apr ’24€1.20
€1.55
+29.5%
9.8%€1.80€1.30€1.7511
Mar ’24€1.42
€1.51
+6.3%
9.0%€1.80€1.30€1.9110
Feb ’24€1.29
€1.46
+12.9%
7.5%€1.60€1.30€1.7410
Jan ’24€1.04
€1.42
+36.6%
11.8%€1.60€1.04€1.5810
Dec ’23€1.10
€1.42
+28.7%
12.8%€1.75€1.04€1.6810
Nov ’23€0.97
€1.37
+41.4%
14.1%€1.65€1.04€1.5110

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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