OTP Bank Nyrt.

DB:OTP Stock Report

Market Cap: €14.3b

OTP Bank Nyrt Valuation

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

Valuation Score

5/6

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

Below Fair Value: OTP (€53.18) is trading below our estimate of fair value (€140.75)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for OTP. This is calculated by dividing OTP's market cap by their current earnings.
What is OTP's PE Ratio?
PE Ratio6.2x
EarningsFt957.10b
Market CapFt5.92t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for OTP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.2x
CBK Commerzbank
7.9x8.8%€16.9b
PCZ ProCredit Holding
4.4x10.7%€461.8m
MBK Merkur PrivatBank KgaA
10x8.6%€108.9m
BANKBARODA Bank of Baroda
6.4x2.6%₹1.3t
OTP OTP Bank Nyrt
6.2x-2.0%€5.9t

Price-To-Earnings vs Peers: OTP is good value based on its Price-To-Earnings Ratio (6.2x) compared to the peer average (7.2x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
OTP 6.2xIndustry Avg. 7.2xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: OTP is good value based on its Price-To-Earnings Ratio (6.2x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is OTP'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.

OTP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.2x
Fair PE Ratio9.7x

Price-To-Earnings vs Fair Ratio: OTP is good value based on its Price-To-Earnings Ratio (6.2x) compared to the estimated Fair Price-To-Earnings Ratio (9.7x).

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 OTP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€53.18
€54.95
+3.3%
10.6%€66.47€46.57n/a13
Nov ’25€46.36
€53.01
+14.3%
8.0%€61.52€46.93n/a13
Oct ’25€46.43
€54.01
+16.3%
7.5%€60.83€47.95n/a13
Sep ’25€46.63
€54.05
+15.9%
7.6%€61.00€48.08n/a13
Aug ’25€46.89
€54.03
+15.2%
7.3%€61.03€48.11n/a13
Jul ’25€46.01
€54.06
+17.5%
7.1%€60.75€47.88n/a13
Jun ’25€44.14
€52.96
+20.0%
12.2%€61.81€39.16n/a13
May ’25€46.80
€51.05
+9.1%
12.3%€58.67€38.79n/a13
Apr ’25€42.00
€46.43
+10.5%
11.6%€54.76€38.55n/a13
Mar ’25€43.94
€47.68
+8.5%
11.0%€56.44€39.73n/a14
Feb ’25€42.46
€47.68
+12.3%
11.0%€56.44€39.73n/a14
Jan ’25€41.15
€47.90
+16.4%
12.4%€61.13€40.16n/a14
Dec ’24€37.76
€46.89
+24.2%
11.6%€60.91€40.01n/a14
Nov ’24€35.12
€41.44
+18.0%
16.5%€50.16€28.03€46.3614
Oct ’24€32.84
€39.54
+20.4%
17.4%€48.42€27.93€46.4315
Sep ’24€37.21
€38.52
+3.5%
18.1%€48.57€28.02€46.6315
Aug ’24€32.67
€36.40
+11.4%
14.6%€47.21€28.14€46.8915
Jul ’24€32.15
€36.37
+13.1%
13.4%€45.48€28.71€46.0115
Jun ’24€28.73
€36.14
+25.8%
15.4%€50.72€28.95€44.1414
May ’24€27.27
€35.25
+29.3%
17.2%€50.39€26.95€46.8014
Apr ’24€25.60
€33.25
+29.9%
17.9%€47.48€24.69€42.0013
Mar ’24€28.45
€33.34
+17.2%
19.6%€48.31€22.55€43.9413
Feb ’24€27.23
€33.34
+22.4%
19.6%€48.31€22.55€42.4613
Jan ’24€25.04
€31.73
+26.7%
20.0%€46.26€21.14€41.1513
Dec ’23€25.90
€32.62
+25.9%
27.4%€53.85€20.84€37.7613
Nov ’23€21.57
€31.86
+47.7%
29.4%€54.29€19.39€35.1213

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

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