Merkur PrivatBank KgaA Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: MBK (€13.7) is trading above our estimate of fair value (€11.49)

Significantly Below Fair Value: MBK is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MBK. This is calculated by dividing MBK's market cap by their current earnings.
What is MBK's PE Ratio?
PE Ratio	10x
Earnings	€10.72m
Market Cap	€107.35m

MBK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	1.2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	9.8x
PCZ ProCredit Holding	4.4x	9.9%	€471.2m
CBK Commerzbank	8.1x	8.8%	€17.3b
NDB.N0000 National Development Bank	5x	n/a	LK₨33.6b
ACC-EQO Access Bank Botswana	21.6x	n/a	P1.5b
MBK Merkur PrivatBank KgaA	10x	8.6%	€107.3m

Price-To-Earnings vs Peers: MBK is expensive based on its Price-To-Earnings Ratio (10x) compared to the peer average (9.8x).

Price to Earnings Ratio vs Industry

How does MBK'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

No more companies

Price-To-Earnings vs Industry: MBK is expensive based on its Price-To-Earnings Ratio (10x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is MBK'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.

MBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10x
Fair PE Ratio	8.2x

Price-To-Earnings vs Fair Ratio: MBK is expensive based on its Price-To-Earnings Ratio (10x) compared to the estimated Fair Price-To-Earnings Ratio (8.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

UniCredit

€55.9b

Provides commercial banking services in Italy, Germany, Central Europe, and Eastern Europe.

CRIN

€36.17

-8.9%

45.5%

BNP Paribas

€64.3b

Provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

BNP

€57.16

-5.0%

1.3%

Bank of Cyprus Holdings

€2.0b

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

€4.00

-2.7%

38.9%