Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

DB:P9O Stock Report

Market Cap: €17.6b

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna Valuation

Is P9O undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 P9O when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: P9O (€14.28) is trading below our estimate of fair value (€34.6)

Significantly Below Fair Value: P9O is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for P9O?

Key metric: As P9O is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for P9O. This is calculated by dividing P9O's market cap by their current earnings.
What is P9O's PE Ratio?
PE Ratio9.9x
Earningszł7.54b
Market Capzł74.80b

Price to Earnings Ratio vs Peers

How does P9O's PE Ratio compare to its peers?

The above table shows the PE ratio for P9O vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.1x
CBK Commerzbank
8.5x8.9%€18.1b
PCZ ProCredit Holding
4.5x12.2%€465.3m
MBK Merkur PrivatBank KgaA
9.9x10.7%€105.8m
1150 Alinma Bank
13.5x11.0%ر.س71.8b
P9O Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
9.9x8.6%€74.8b

Price-To-Earnings vs Peers: P9O is expensive based on its Price-To-Earnings Ratio (9.9x) compared to the peer average (9.1x).

Price to Earnings Ratio vs Industry

How does P9O's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
P9O 9.9xIndustry Avg. 7.6xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: P9O is expensive based on its Price-To-Earnings Ratio (9.9x) compared to the European Banks industry average (7.6x).

Price to Earnings Ratio vs Fair Ratio

What is P9O'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.

P9O PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.9x
Fair PE Ratio11.7x

Price-To-Earnings vs Fair Ratio: P9O is good value based on its Price-To-Earnings Ratio (9.9x) compared to the estimated Fair Price-To-Earnings Ratio (11.7x).

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 P9O forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€14.28
€17.36
+21.6%
11.3%€21.58€14.08n/a12
Dec ’25€12.70
€17.29
+36.2%
11.7%€21.88€13.97n/a12
Nov ’25€12.65
€17.43
+37.9%
11.9%€21.99€14.04n/a12
Oct ’25€12.98
€17.43
+34.3%
11.9%€21.99€14.04n/a12
Sep ’25€13.31
€16.79
+26.1%
11.7%€19.66€12.80n/a12
Aug ’25€13.56
€16.49
+21.6%
12.2%€19.66€12.80n/a12
Jul ’25€14.73
€15.97
+8.4%
13.1%€19.52€12.71n/a12
Jun ’25€13.27
€15.94
+20.1%
13.1%€19.77€12.87n/a12
May ’25€14.15
€15.52
+9.7%
11.9%€19.23€12.74n/a11
Apr ’25€13.66
€14.48
+6.0%
12.3%€17.18€12.16n/a10
Mar ’25€12.71
€12.94
+1.8%
14.1%€17.14€9.87n/a11
Feb ’25€11.62
€12.77
+9.9%
12.3%€15.76€9.87n/a11
Jan ’25€11.49
€12.08
+5.1%
9.9%€14.03€9.80n/a11
Dec ’24€10.75
€11.61
+8.0%
10.9%€14.01€9.64€12.7011
Nov ’24€9.64
€9.75
+1.1%
9.5%€11.20€8.07€12.6511
Oct ’24€7.18
€9.01
+25.5%
8.5%€10.35€7.76€12.9812
Sep ’24€8.21
€9.27
+12.9%
10.4%€10.71€7.81€13.3112
Aug ’24€9.11
€9.20
+1.0%
9.4%€10.56€7.92€13.5612
Jul ’24€8.08
€8.89
+10.0%
10.7%€10.43€7.64€14.7312
Jun ’24€7.03
€8.30
+18.1%
9.9%€10.14€7.28€13.2712
May ’24€7.09
€8.07
+13.8%
11.3%€10.05€6.99€14.1512
Apr ’24€6.13
€7.94
+29.6%
11.6%€9.82€6.83€13.6613
Mar ’24€6.55
€7.80
+19.1%
11.9%€9.63€6.28€12.7113
Feb ’24€6.81
€7.92
+16.4%
11.8%€9.78€6.38€11.6213
Jan ’24€6.46
€7.75
+20.0%
14.2%€9.81€5.97€11.4913
Dec ’23€6.04
€7.66
+26.8%
14.9%€9.80€5.75€10.7513

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/24 23:51
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna is covered by 39 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ivan BokhmatBarclays
Andreas MarkouBerenberg
Kamil KliszczBiuro maklerskie mBanku