Corporación Financiera Alba, S.A.

DB:CSV Stock Report

Market Cap: €2.8b

Corporación Financiera Alba Valuation

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

Below Fair Value: CSV (€46.6) is trading below our estimate of fair value (€73.53)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CSV. This is calculated by dividing CSV's market cap by their current earnings.
What is CSV's PE Ratio?
PE Ratio15.8x
Earnings€178.90m
Market Cap€2.82b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CSV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average38.5x
HYQ Hypoport
47x30.4%€1.4b
T2G Tradegate Wertpapierhandelsbank
86.6xn/a€2.2b
PBB Deutsche Pfandbriefbank
11x35.3%€679.8m
GLJ Grenke
9.6x25.2%€713.0m
CSV Corporación Financiera Alba
15.8x18.5%€2.8b

Price-To-Earnings vs Peers: CSV is good value based on its Price-To-Earnings Ratio (15.8x) compared to the peer average (38.5x).

Price to Earnings Ratio vs Industry

How does CSV's PE Ratio compare vs other companies in the European Diversified Financial Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CSV 15.8xIndustry Avg. 10.7xNo. of Companies13PE01020304050+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CSV is expensive based on its Price-To-Earnings Ratio (15.8x) compared to the European Diversified Financial industry average (10.7x).

Price to Earnings Ratio vs Fair Ratio

What is CSV'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.

CSV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.8x
Fair PE Ratio16.5x

Price-To-Earnings vs Fair Ratio: CSV is good value based on its Price-To-Earnings Ratio (15.8x) compared to the estimated Fair Price-To-Earnings Ratio (16.5x).

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 CSV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€46.60
€73.50
+57.7%
7.5%€79.00€68.00n/a2
Nov ’25€47.95
€73.50
+53.3%
7.5%€79.00€68.00n/a2
Oct ’25€51.20
€73.50
+43.6%
7.5%€79.00€68.00n/a2
Sep ’24€48.30
€72.65
+50.4%
3.9%€75.50€69.80€50.402
Aug ’24€48.35
€72.65
+50.3%
3.9%€75.50€69.80€49.902
Jul ’24€48.00
€70.05
+45.9%
0.4%€70.30€69.80€51.502
Jun ’24€45.75
€71.35
+56.0%
2.2%€72.90€69.80€51.302
May ’24€46.10
€68.67
+49.0%
5.8%€72.90€63.30€47.553
Apr ’24€46.15
€68.67
+48.8%
5.8%€72.90€63.30€48.753
Mar ’24€43.65
€68.67
+57.3%
5.8%€72.90€63.30€47.803
Feb ’24€44.25
€67.03
+51.5%
4.0%€69.40€63.30€48.003
Jan ’24€42.65
€67.03
+57.2%
4.0%€69.40€63.30€47.803
Dec ’23€45.50
€67.03
+47.3%
4.0%€69.40€63.30€50.303
Nov ’23€45.00
€67.43
+49.9%
4.3%€69.60€63.30€48.253

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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