The Bank of New York Mellon Corporation

DB:BN9 Stock Report

Market Cap: €53.2b

Bank of New York Mellon Valuation

Is BN9 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 BN9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BN9 (€73.9) is trading below our estimate of fair value (€106.46)

Significantly Below Fair Value: BN9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BN9?

Key metric: As BN9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BN9. This is calculated by dividing BN9's market cap by their current earnings.
What is BN9's PE Ratio?
PE Ratio16.4x
EarningsUS$3.35b
Market CapUS$55.13b

Price to Earnings Ratio vs Peers

How does BN9's PE Ratio compare to its peers?

The above table shows the PE ratio for BN9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.5x
DWS DWS Group GmbH KGaA
13.4x13.0%€8.0b
DBK Deutsche Bank
8.3x12.6%€32.2b
DB1 Deutsche Börse
22.3x5.4%€41.2b
MLP MLP
9.9x7.8%€639.4m
BN9 Bank of New York Mellon
16.4x10.7%€55.1b

Price-To-Earnings vs Peers: BN9 is expensive based on its Price-To-Earnings Ratio (16.4x) compared to the peer average (13.5x).

Price to Earnings Ratio vs Industry

How does BN9's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR40 AURELIUS Equity Opportunities SE KGaA
3.4xn/aUS$355.77m
HXCK Ernst Russ
3.7x-19.3%US$203.18m
VG8 Varengold Bank
2xn/aUS$25.82m
XE8 Black Sea Property
0.7xn/aUS$7.65m
No more companies available in this PE range
BN9 16.4xIndustry Avg. 19.9xNo. of Companies7PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BN9 is good value based on its Price-To-Earnings Ratio (16.4x) compared to the German Capital Markets industry average (20x).

Price to Earnings Ratio vs Fair Ratio

What is BN9'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.

BN9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.4x
Fair PE Ratio20.9x

Price-To-Earnings vs Fair Ratio: BN9 is good value based on its Price-To-Earnings Ratio (16.4x) compared to the estimated Fair Price-To-Earnings Ratio (20.9x).

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 BN9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€73.90
€79.83
+8.0%
8.4%€91.53€66.74n/a16
Dec ’25€78.05
€77.36
-0.9%
6.6%€85.19€66.26n/a16
Nov ’25€69.18
€74.15
+7.2%
7.3%€83.05€60.90n/a16
Oct ’25€64.61
€65.96
+2.1%
6.7%€72.27€56.91n/a16
Sep ’25€60.45
€64.33
+6.4%
6.1%€69.25€54.67n/a17
Aug ’25€59.99
€65.03
+8.4%
6.6%€70.30€55.50n/a17
Jul ’25€56.28
€60.35
+7.2%
5.4%€65.19€54.02n/a17
Jun ’25€53.69
€59.52
+10.9%
5.8%€64.89€52.84n/a17
May ’25€53.63
€59.88
+11.7%
5.5%€65.25€54.07n/a17
Apr ’25€52.50
€57.99
+10.5%
6.0%€63.31€52.14n/a17
Mar ’25€51.80
€57.37
+10.8%
5.4%€63.11€51.97n/a17
Feb ’25€51.20
€56.39
+10.1%
5.9%€62.72€51.65n/a17
Jan ’25€47.00
€49.13
+4.5%
6.9%€56.35€43.63n/a17
Dec ’24€44.15
€48.38
+9.6%
8.8%€57.01€41.38€78.0517
Nov ’24€40.20
€49.75
+23.8%
9.3%€58.86€42.72€69.1817
Oct ’24€40.65
€49.88
+22.7%
9.2%€58.03€42.12€64.6117
Sep ’24€41.30
€49.15
+19.0%
8.8%€57.02€41.39€60.4518
Aug ’24€41.05
€47.67
+16.1%
9.0%€55.35€39.28€59.9918
Jul ’24€40.45
€48.48
+19.9%
10.5%€56.56€38.31€56.2817
Jun ’24€37.50
€49.23
+31.3%
10.8%€57.62€38.11€53.6917
May ’24€37.95
€48.70
+28.3%
10.1%€56.56€37.40€53.6317
Apr ’24€41.02
€51.30
+25.1%
9.8%€59.00€40.56€52.5017
Mar ’24€47.84
€52.71
+10.2%
7.8%€59.74€45.74€51.8017
Feb ’24€46.12
€50.98
+10.5%
8.3%€58.26€44.60€51.2017
Jan ’24€42.47
€46.89
+10.4%
8.0%€53.74€41.48€47.0015
Dec ’23€43.58
€46.36
+6.4%
8.5%€54.15€39.90€44.1515

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 14:55
End of Day Share Price 2024/12/19 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

The Bank of New York Mellon Corporation is covered by 42 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stephen BiggarArgus Research Company
Ishan MajumdarBaptista Research
Jason GoldbergBarclays