Mitsubishi UFJ Financial Group, Inc.

DB:MFZ Stock Report

Market Cap: €129.9b

Mitsubishi UFJ Financial Group Valuation

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

Below Fair Value: MFZ (€11.2) is trading below our estimate of fair value (€16.52)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MFZ. This is calculated by dividing MFZ's market cap by their current earnings.
What is MFZ's PE Ratio?
PE Ratio12.7x
EarningsJP¥1.66t
Market CapJP¥21.11t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MFZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average6.8x
CBK Commerzbank
9.1x8.8%€19.3b
PCZ ProCredit Holding
4.2x9.9%€444.1m
600036 China Merchants Bank
6.7x6.7%CN¥938.8b
HSBA HSBC Holdings
7.2x-1.4%UK£129.5b
MFZ Mitsubishi UFJ Financial Group
12.7x4.8%€21.1t

Price-To-Earnings vs Peers: MFZ is expensive based on its Price-To-Earnings Ratio (12.7x) compared to the peer average (6.8x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MFZ 12.7xIndustry Avg. 7.4xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MFZ is expensive based on its Price-To-Earnings Ratio (12.7x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is MFZ'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.

MFZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.7x
Fair PE Ratio12.6x

Price-To-Earnings vs Fair Ratio: MFZ is expensive based on its Price-To-Earnings Ratio (12.7x) compared to the estimated Fair Price-To-Earnings Ratio (12.6x).

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 MFZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€9.76
€11.98
+22.8%
12.4%€14.04€9.68n/a12
Oct ’25€9.13
€11.98
+31.2%
12.4%€14.04€9.68n/a12
Sep ’25€9.42
€11.76
+24.8%
12.8%€13.75€9.48n/a11
Aug ’25€10.08
€11.83
+17.3%
12.2%€13.74€9.47n/a11
Jul ’25€9.98
€10.41
+4.3%
12.6%€12.74€7.71n/a12
Jun ’25€9.55
€10.14
+6.1%
10.4%€11.74€7.63n/a12
May ’25€9.20
€10.10
+9.8%
13.7%€12.20€7.93n/a12
Apr ’25€9.33
€9.56
+2.5%
16.3%€12.22€7.03n/a12
Mar ’25€9.59
€9.07
-5.4%
11.3%€10.49€7.09n/a13
Feb ’25€8.65
€9.14
+5.6%
10.1%€10.86€7.35n/a13
Jan ’25€7.63
€9.14
+19.7%
10.1%€10.86€7.35n/a13
Dec ’24€7.76
€8.82
+13.6%
10.1%€10.54€7.13n/a13
Nov ’24€8.12
€8.72
+7.4%
11.1%€10.72€7.25€9.7612
Oct ’24€7.92
€8.18
+3.3%
7.3%€9.51€7.29€9.1312
Sep ’24€7.40
€7.86
+6.2%
10.1%€8.62€5.39€9.4213
Aug ’24€7.13
€7.45
+4.5%
12.6%€8.64€5.40€10.0813
Jul ’24€6.71
€7.05
+5.0%
10.9%€8.05€5.43€9.9812
Jun ’24€6.41
€7.11
+10.9%
9.9%€7.94€5.67€9.5511
May ’24€5.59
€7.18
+28.6%
10.0%€8.26€5.90€9.2012
Apr ’24€5.98
€7.18
+20.1%
10.0%€8.26€5.90€9.3312
Mar ’24€6.53
€7.18
+10.0%
12.4%€8.29€4.88€9.5912
Feb ’24€6.65
€6.63
-0.3%
15.3%€7.77€4.94€8.6512
Jan ’24€6.07
€6.26
+3.2%
14.0%€7.84€4.99€7.6312
Dec ’23€5.22
€6.01
+15.2%
11.7%€7.30€4.87€7.7610
Nov ’23€4.75
€5.75
+20.9%
13.1%€7.15€4.77€8.1210

Analyst Forecast: Target price is less than 20% higher than the current share price.

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