U.S. Bancorp

DB:UB5 Stock Report

Market Cap: €75.5b

U.S. Bancorp Valuation

Is UB5 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 UB5 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UB5 (€49.41) is trading below our estimate of fair value (€96.98)

Significantly Below Fair Value: UB5 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for UB5?

Key metric: As UB5 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for UB5. This is calculated by dividing UB5's market cap by their current earnings.
What is UB5's PE Ratio?
PE Ratio15.7x
EarningsUS$5.09b
Market CapUS$79.16b

Price to Earnings Ratio vs Peers

How does UB5's PE Ratio compare to its peers?

The above table shows the PE ratio for UB5 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.8x
CBK Commerzbank
8.7x8.8%€18.5b
PCZ ProCredit Holding
4.3x9.9%€461.8m
NAB National Australia Bank
17.1x2.3%AU$121.1b
PNC PNC Financial Services Group
17.3x12.9%US$80.9b
UB5 U.S. Bancorp
15.7x11.6%€79.2b

Price-To-Earnings vs Peers: UB5 is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the peer average (11.8x).

Price to Earnings Ratio vs Industry

How does UB5's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
UB5 15.7xIndustry Avg. 7.4xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: UB5 is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is UB5'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.

UB5 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.7x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: UB5 is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the estimated Fair Price-To-Earnings Ratio (13.4x).

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 UB5 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€49.41
€51.18
+3.6%
8.0%€62.62€46.49n/a21
Nov ’25€44.21
€48.76
+10.3%
5.9%€55.16€45.05n/a21
Oct ’25€40.87
€45.06
+10.3%
5.9%€51.19€39.97n/a21
Sep ’25€41.80
€45.46
+8.7%
6.1%€49.42€39.35n/a22
Aug ’25€41.23
€45.76
+11.0%
6.7%€50.79€38.79n/a22
Jul ’25€36.69
€44.16
+20.4%
7.3%€49.48€39.21n/a22
Jun ’25€36.50
€43.86
+20.2%
7.5%€50.16€39.01n/a22
May ’25€38.41
€44.29
+15.3%
7.4%€50.51€39.28n/a22
Apr ’25€40.48
€45.20
+11.7%
6.9%€52.14€40.96n/a22
Mar ’25€38.64
€44.37
+14.8%
8.3%€56.12€40.48n/a22
Feb ’25€38.36
€44.37
+15.7%
8.3%€56.12€40.48n/a22
Jan ’25€39.22
€39.65
+1.1%
15.5%€54.21€28.01n/a24
Dec ’24€35.60
€37.78
+6.1%
17.5%€57.88€28.48n/a23
Nov ’24€29.98
€38.44
+28.2%
17.3%€56.69€29.29€44.2123
Oct ’24€31.30
€41.30
+31.9%
14.0%€59.02€34.08€40.8723
Sep ’24€33.52
€40.65
+21.3%
14.3%€61.54€33.07€41.8023
Aug ’24€36.00
€39.42
+9.5%
16.9%€63.10€31.55€41.2323
Jul ’24€30.00
€38.97
+29.9%
20.0%€63.85€30.10€36.6923
Jun ’24€27.26
€40.43
+48.3%
17.4%€61.02€29.14€36.5023
May ’24€29.60
€41.20
+39.2%
16.1%€60.78€33.57€38.4123
Apr ’24€32.77
€48.81
+49.0%
12.2%€62.73€35.98€40.4823
Mar ’24€44.80
€52.43
+17.0%
11.6%€72.99€41.71€38.6423
Feb ’24€45.53
€50.24
+10.3%
12.1%€68.10€40.49€38.3622
Jan ’24€40.66
€49.27
+21.2%
13.2%€65.98€40.53€39.2222
Dec ’23€42.81
€49.62
+15.9%
13.6%€67.45€40.85€35.6021
Nov ’23€42.69
€51.90
+21.6%
12.0%€64.23€43.15€29.9822

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

Discover undervalued companies

Crédit Agricole

€40.3b

Provides retail, corporate, insurance, and investment banking products and services in France and internationally.

XCA

€13.26

7D

2.4%

1Y

13.3%

Banco del Bajío Institución de Banca Múltiple

Mex$48.1b

Provides banking products and services in Mexico.

5NT

Mex$1.80

7D

-0.6%

1Y

-39.2%

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

€4.02

7D

-2.0%

1Y

36.3%