Bank of Georgia Group Valuation
Is GEB undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
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 GEB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: GEB (€59) is trading below our estimate of fair value (€174.21)
Significantly Below Fair Value: GEB is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for GEB?
Key metric: As GEB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is GEB's PE Ratio? | |
|---|---|
| PE Ratio | 3.1x |
| Earnings | GEL 2.31b |
| Market Cap | GEL 7.25b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | -1x |
Price to Earnings Ratio vs Peers
How does GEB's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 6.9x | ||
PCZ ProCredit Holding | 4.2x | 9.9% | €450.0m |
CBK Commerzbank | 8.5x | 8.8% | €18.2b |
MBK Merkur PrivatBank KgaA | 10x | 8.6% | €107.3m |
ALR Alior Bank | 4.9x | -10.1% | zł11.8b |
GEB Bank of Georgia Group | 3.1x | -3.2% | €2.1b |
Price-To-Earnings vs Peers: GEB is good value based on its Price-To-Earnings Ratio (3.1x) compared to the peer average (6.9x).
Price to Earnings Ratio vs Industry
How does GEB's PE Ratio compare vs other companies in the European Banks Industry?
| 2 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 2 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: GEB is good value based on its Price-To-Earnings Ratio (3.1x) compared to the European Banks industry average (7.4x).
Price to Earnings Ratio vs Fair Ratio
What is GEB'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 3.1x |
| Fair PE Ratio | 8.8x |
Price-To-Earnings vs Fair Ratio: GEB is good value based on its Price-To-Earnings Ratio (3.1x) compared to the estimated Fair Price-To-Earnings Ratio (8.8x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | €59.00 | €70.08 +18.8% | 15.7% | €87.23 | €54.74 | n/a | 5 |
| Nov ’25 | €49.00 | €68.06 +38.9% | 13.4% | €80.24 | €54.09 | n/a | 5 |
| Oct ’25 | €43.60 | €68.06 +56.1% | 13.4% | €80.24 | €54.09 | n/a | 5 |
| Sep ’25 | €54.00 | €68.06 +26.0% | 13.4% | €80.24 | €54.09 | n/a | 5 |
| Aug ’25 | €53.00 | €67.36 +27.1% | 13.1% | €79.98 | €53.91 | n/a | 5 |
| Jul ’25 | €46.80 | €67.23 +43.7% | 14.3% | €79.84 | €50.51 | n/a | 5 |
| Jun ’25 | €41.80 | €66.85 +59.9% | 14.3% | €79.38 | €50.22 | n/a | 5 |
| May ’25 | €62.50 | €72.60 +16.2% | 23.8% | €106.00 | €49.52 | n/a | 6 |
| Apr ’25 | €58.60 | €72.85 +24.3% | 24.2% | €106.93 | €49.96 | n/a | 6 |
| Mar ’25 | €55.20 | €68.25 +23.7% | 23.5% | €96.97 | €49.86 | n/a | 6 |
| Feb ’25 | €43.90 | €62.18 +41.6% | 29.9% | €95.89 | €45.03 | n/a | 5 |
| Jan ’25 | €45.30 | €62.18 +37.3% | 29.9% | €95.89 | €45.03 | n/a | 5 |
| Dec ’24 | €39.80 | €60.41 +51.8% | 28.1% | €94.92 | €44.57 | n/a | 6 |
| Nov ’24 | €38.30 | €58.92 +53.8% | 23.6% | €81.36 | €44.73 | €49.00 | 5 |
| Oct ’24 | €43.30 | €60.60 +40.0% | 22.7% | €83.04 | €45.66 | €43.60 | 5 |
| Sep ’24 | €40.70 | €60.60 +48.9% | 22.7% | €83.04 | €45.66 | €54.00 | 5 |
| Aug ’24 | €37.80 | €47.08 +24.5% | 34.0% | €76.17 | €24.71 | €53.00 | 6 |
| Jul ’24 | €33.90 | €47.08 +38.9% | 34.0% | €76.17 | €24.71 | €46.80 | 6 |
| Jun ’24 | €35.30 | €46.14 +30.7% | 33.1% | €73.38 | €24.37 | €41.80 | 6 |
| May ’24 | €34.60 | €43.20 +24.9% | 30.5% | €65.18 | €24.02 | €62.50 | 6 |
| Apr ’24 | €30.80 | €42.09 +36.6% | 29.6% | €65.12 | €24.00 | €58.60 | 6 |
| Mar ’24 | €31.60 | €42.09 +33.2% | 29.6% | €65.12 | €24.00 | €55.20 | 6 |
| Feb ’24 | €30.00 | €39.31 +31.0% | 24.3% | €54.17 | €24.04 | €43.90 | 6 |
| Jan ’24 | €29.20 | €37.54 +28.6% | 33.2% | €55.58 | €20.01 | €45.30 | 6 |
| Dec ’23 | €29.60 | €36.06 +21.8% | 35.7% | €55.50 | €19.98 | €39.80 | 6 |
| Nov ’23 | €24.80 | €29.73 +19.9% | 29.2% | €46.45 | €19.82 | €38.30 | 6 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
Discover undervalued companies
Banco del Bajío Institución de Banca Múltiple
Mex$48.9b
Provides banking products and services in Mexico.
5NT
Mex$1.82
7D
-1.6%
1Y
-37.2%
Crédit Agricole
€39.7b
Provides retail, corporate, insurance, and investment banking products and services in France and internationally.
XCA
€13.26
7D
-0.5%
1Y
13.5%
Bank of Cyprus Holdings
€1.9b
Through its subsidiaries, engages in the provision of banking, financial, and insurance services in Cyprus, Greece, the United Kingdom, the United States, Germany, Romania, Russia, Ukraine, Belarus, Israel, and internationally.
318
€4.20
7D
1.2%
1Y
40.0%