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Banco Bilbao Vizcaya Argentaria

BME:BBVA
Snowflake Description

Proven track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BBVA
BME
€34B
Market Cap
  1. Home
  2. ES
  3. Banks
Company description

Banco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides retail and wholesale banking, asset management, and private banking services. The last earnings update was 18 days ago. More info.


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BBVA Share Price and Events
7 Day Returns
1.5%
BME:BBVA
1%
ES Banks
1.6%
ES Market
1 Year Returns
-21.7%
BME:BBVA
-24.1%
ES Banks
-7%
ES Market
BBVA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Banco Bilbao Vizcaya Argentaria (BBVA) 1.5% -7.9% -0.8% -21.7% -8.5% -43.9%
ES Banks 1% -8.2% -0.7% -24.1% -5.1% -44.5%
ES Market 1.6% -2% 2.3% -7% 8.9% -14%
1 Year Return vs Industry and Market
  • BBVA outperformed the Banks industry which returned -24.1% over the past year.
  • BBVA underperformed the Market in Spain which returned -7% over the past year.
Price Volatility
BBVA
Industry
5yr Volatility vs Market
Related Companies

BBVA Value

 Is Banco Bilbao Vizcaya Argentaria undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Banco Bilbao Vizcaya Argentaria to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Banco Bilbao Vizcaya Argentaria.

BME:BBVA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 17 analysts.
= Stable Book Value * Return on Equity
= €7.90 * 9.3%
€0.73
Book Value of Equity per Share Weighted future Book Value estimates from 13 analysts. €7.90
Discount Rate (Cost of Equity) See below 15.3%
Perpetual Growth Rate 10-Year ES Government Bond Rate 1.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BME:BBVA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year ES Govt Bond Rate 1.5%
Equity Risk Premium S&P Global 8.2%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.58
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.584 (1 + (1- 25%) (327.05%))
1.682
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.68
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.53% + (1.682 * 8.18%)
15.28%

Discounted Cash Flow Calculation for BME:BBVA using Excess Returns Model Model

The calculations below outline how an intrinsic value for Banco Bilbao Vizcaya Argentaria is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BME:BBVA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.3% – 15.28%) * €7.90)
€-0.48
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.48 / (15.28% - 1.53%)
€-3.46
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €7.90 + €-3.46
€4.44
BME:BBVA Discount to Share Price
Calculation Result
Value per share (EUR) From above. €4.44
Current discount Discount to share price of €5.15
= -1 x (€5.15 - €4.44) / €4.44
-16.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Banco Bilbao Vizcaya Argentaria is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Banco Bilbao Vizcaya Argentaria's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Banco Bilbao Vizcaya Argentaria's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BME:BBVA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.73
BME:BBVA Share Price ** BME (2019-05-17) in EUR €5.15
Spain Banks Industry PE Ratio Median Figure of 8 Publicly-Listed Banks Companies 10.64x
Spain Market PE Ratio Median Figure of 134 Publicly-Listed Companies 18.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Banco Bilbao Vizcaya Argentaria.

BME:BBVA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:BBVA Share Price ÷ EPS (both in EUR)

= 5.15 ÷ 0.73

7.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco Bilbao Vizcaya Argentaria is good value based on earnings compared to the ES Banks industry average.
  • Banco Bilbao Vizcaya Argentaria is good value based on earnings compared to the Spain market.
Price based on expected Growth
Does Banco Bilbao Vizcaya Argentaria's expected growth come at a high price?
Raw Data
BME:BBVA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
2.1%per year
Spain Banks Industry PEG Ratio Median Figure of 8 Publicly-Listed Banks Companies 1.49x
Spain Market PEG Ratio Median Figure of 77 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

BME:BBVA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.03x ÷ 2.1%

3.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco Bilbao Vizcaya Argentaria is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Banco Bilbao Vizcaya Argentaria's assets?
Raw Data
BME:BBVA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €7.20
BME:BBVA Share Price * BME (2019-05-17) in EUR €5.15
Spain Banks Industry PB Ratio Median Figure of 8 Publicly-Listed Banks Companies 0.61x
Spain Market PB Ratio Median Figure of 180 Publicly-Listed Companies 1.72x
BME:BBVA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:BBVA Share Price ÷ Book Value per Share (both in EUR)

= 5.15 ÷ 7.20

0.72x

* Primary Listing of Banco Bilbao Vizcaya Argentaria.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco Bilbao Vizcaya Argentaria is overvalued based on assets compared to the ES Banks industry average.
X
Value checks
We assess Banco Bilbao Vizcaya Argentaria's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Banco Bilbao Vizcaya Argentaria has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BBVA Future Performance

 How is Banco Bilbao Vizcaya Argentaria expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Banco Bilbao Vizcaya Argentaria expected to grow at an attractive rate?
  • Banco Bilbao Vizcaya Argentaria's earnings growth is expected to exceed the low risk savings rate of 1.5%.
Growth vs Market Checks
  • Banco Bilbao Vizcaya Argentaria's earnings growth is positive but not above the Spain market average.
  • Banco Bilbao Vizcaya Argentaria's revenue growth is positive but not above the Spain market average.
Annual Growth Rates Comparison
Raw Data
BME:BBVA Future Growth Rates Data Sources
Data Point Source Value (per year)
BME:BBVA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 2.1%
BME:BBVA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 2.7%
Spain Banks Industry Earnings Growth Rate Market Cap Weighted Average 6.6%
Spain Banks Industry Revenue Growth Rate Market Cap Weighted Average 4%
Spain Market Earnings Growth Rate Market Cap Weighted Average 8.2%
Spain Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BME:BBVA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BME:BBVA Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 25,785 5,056 1
2021-12-31 25,214 4,752 15
2020-12-31 24,337 4,627 20
2019-12-31 24,269 4,536 14
BME:BBVA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 20,478 -2,491 4,885
2018-12-31 20,661 8,664 5,011
2018-09-30 20,302 4,743 4,042
2018-06-30 20,256 -1,608 3,341
2018-03-31 20,356 9,907 3,309
2017-12-31 20,542 2,055 3,218
2017-09-30 21,682 -463 3,867
2017-06-30 21,598 6,305 3,803
2017-03-31 21,578 2,755 3,705
2016-12-31 20,893 6,623 3,215
2016-09-30 20,356 15,485 3,525
2016-06-30 18,427 19,628 1,389

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Banco Bilbao Vizcaya Argentaria's earnings are expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
  • Banco Bilbao Vizcaya Argentaria's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BME:BBVA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Banco Bilbao Vizcaya Argentaria Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:BBVA Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.70 0.81 0.57 13.00
2020-12-31 0.69 0.81 0.54 19.00
2019-12-31 0.68 0.73 0.63 15.00
BME:BBVA Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.73
2018-12-31 0.76
2018-09-30 0.59
2018-06-30 0.49
2018-03-31 0.50
2017-12-31 0.48
2017-09-30 0.59
2017-06-30 0.57
2017-03-31 0.57
2016-12-31 0.49
2016-09-30 0.55
2016-06-30 0.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Banco Bilbao Vizcaya Argentaria is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Banco Bilbao Vizcaya Argentaria's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Spain market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Spain market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Banco Bilbao Vizcaya Argentaria has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BBVA Past Performance

  How has Banco Bilbao Vizcaya Argentaria performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Banco Bilbao Vizcaya Argentaria's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Banco Bilbao Vizcaya Argentaria has delivered over 20% year on year earnings growth in the past 5 years.
  • Banco Bilbao Vizcaya Argentaria's 1-year earnings growth exceeds its 5-year average (47.6% vs 30.2%)
  • Banco Bilbao Vizcaya Argentaria's earnings growth has exceeded the ES Banks industry average in the past year (47.6% vs 7.1%).
Earnings and Revenue History
Banco Bilbao Vizcaya Argentaria's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Banco Bilbao Vizcaya Argentaria Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:BBVA Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 20,478.00 4,885.00 11,249.00
2018-12-31 20,661.00 5,011.00 11,285.00
2018-09-30 20,302.00 4,042.00 11,414.00
2018-06-30 20,256.00 3,341.00 11,687.00
2018-03-31 20,356.00 3,309.00 11,887.00
2017-12-31 20,542.00 3,218.00 12,043.00
2017-09-30 21,682.00 3,867.00 12,175.00
2017-06-30 21,598.00 3,803.00 12,329.00
2017-03-31 21,578.00 3,705.00 12,326.00
2016-12-31 20,893.00 3,215.00 12,359.00
2016-09-30 20,356.00 3,525.00 12,379.00
2016-06-30 18,427.00 1,389.00 12,363.00
2016-03-31 17,322.00 1,603.00 12,125.00
2015-12-31 17,688.00 2,430.00 11,642.00
2015-09-30 17,030.00 2,265.00 11,165.00
2015-06-30 17,131.00 3,923.00 10,560.00
2015-03-31 17,136.00 3,404.00 10,288.00
2014-12-31 15,980.00 2,492.00 10,141.00
2014-09-30 12,889.00 -930.00 8,719.00
2014-06-30 12,841.00 -1,336.00 8,997.00
2014-03-31 12,731.00 -892.00 9,211.00
2013-12-31 12,826.00 183.00 10,375.00
2013-09-30 13,574.00 3,053.00 9,383.00
2013-06-30 13,714.00 2,921.00 9,376.00
2013-03-31 13,207.00 2,204.00 9,140.00
2012-12-31 13,345.00 1,378.00 8,979.00
2012-09-30 14,345.00 1,056.00 9,697.00
2012-06-30 14,595.00 1,797.00 9,388.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Banco Bilbao Vizcaya Argentaria has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Banco Bilbao Vizcaya Argentaria used its assets more efficiently than the ES Banks industry average last year based on Return on Assets.
  • Unable to establish if Banco Bilbao Vizcaya Argentaria improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Banco Bilbao Vizcaya Argentaria's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Banco Bilbao Vizcaya Argentaria has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BBVA Health

 How is Banco Bilbao Vizcaya Argentaria's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Banco Bilbao Vizcaya Argentaria's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Banco Bilbao Vizcaya Argentaria Company Filings, last reported 1 month ago.

BME:BBVA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 53,546.00 111,898.00 110,744.00
2018-12-31 52,873.00 104,640.00 109,912.00
2018-09-30 51,097.00 115,569.00 107,305.00
2018-06-30 52,084.00 112,339.00 107,631.00
2018-03-31 51,822.00 107,756.00 109,794.00
2017-12-31 53,323.00 143,031.00 104,180.00
2017-09-30 54,400.00 144,280.00 83,583.00
2017-06-30 54,727.00 149,160.00 102,642.00
2017-03-31 54,919.00 154,699.00 94,129.00
2016-12-31 55,428.00 168,423.00 112,020.00
2016-09-30 55,890.00 168,611.00 93,732.00
2016-06-30 55,962.00 175,261.00 121,070.00
2016-03-31 54,517.00 182,303.00 98,102.00
2015-12-31 55,283.00 188,094.00 109,610.00
2015-09-30 53,601.00 201,976.00 100,128.00
2015-06-30 50,996.00 187,828.00 113,769.00
2015-03-31 52,366.00 197,248.00 110,222.00
2014-12-31 51,608.00 185,626.00 115,002.00
2014-09-30 48,389.00 99,210.00 111,144.00
2014-06-30 46,866.00 178,285.00 110,614.00
2014-03-31 44,057.00 94,970.00 125,420.00
2013-12-31 44,565.00 170,090.00 98,993.00
2013-09-30 47,355.00 101,808.00 99,335.00
2013-06-30 47,398.00 187,752.00 104,112.00
2013-03-31 46,573.00 95,822.00 132,341.00
2012-12-31 43,661.00 206,488.00 119,040.00
2012-09-30 43,749.00 113,745.00 111,656.00
2012-06-30 43,050.00 220,892.00 112,590.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Banco Bilbao Vizcaya Argentaria has an acceptable proportion of non-loan assets held.
  • Banco Bilbao Vizcaya Argentaria's liabilities are made up of primarily low risk sources of funding.
  • Loans at Banco Bilbao Vizcaya Argentaria are broadly funded by customer deposits.
  • Banco Bilbao Vizcaya Argentaria's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Banco Bilbao Vizcaya Argentaria has a low allowance for bad loans.
  • Banco Bilbao Vizcaya Argentaria has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Banco Bilbao Vizcaya Argentaria's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Banco Bilbao Vizcaya Argentaria has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BBVA Dividends

 What is Banco Bilbao Vizcaya Argentaria's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.05%
Current annual income from Banco Bilbao Vizcaya Argentaria dividends. Estimated to be 5.54% next year.
If you bought €2,000 of Banco Bilbao Vizcaya Argentaria shares you are expected to receive €101 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Banco Bilbao Vizcaya Argentaria's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (2.19%).
  • Banco Bilbao Vizcaya Argentaria's dividend is below the markets top 25% of dividend payers in Spain (5.14%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BME:BBVA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
Spain Banks Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 4.9%
Spain Market Average Dividend Yield Market Cap Weighted Average of 75 Stocks 4.4%
Spain Minimum Threshold Dividend Yield 10th Percentile 1.3%
Spain Bottom 25% Dividend Yield 25th Percentile 2.2%
Spain Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BME:BBVA Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.37 1.00
2021-12-31 0.30 16.00
2020-12-31 0.29 21.00
2019-12-31 0.27 21.00
BME:BBVA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-12 0.260 4.920
2018-09-26 0.250 4.976
2018-02-12 0.300 4.878
2017-11-07 0.180 2.483
2017-10-27 0.180 2.447
2017-09-27 0.180 2.462
2017-02-14 0.160 2.209
2017-02-01 0.160 2.620
2016-12-21 0.160 2.527
2016-08-03 0.160 2.799
2016-07-29 0.160 3.224
2016-06-22 0.160 3.119
2016-02-10 0.160 2.758
2016-02-09 0.160 2.923
2015-12-22 0.160 2.622
2015-08-07 0.080 1.022
2015-07-31 0.080 0.866
2015-07-01 0.080 0.880
2015-03-13 0.080 0.869
2015-02-06 0.080 0.919
2014-10-29 0.080 0.986
2014-08-05 0.080 0.870
2014-07-30 0.080 0.875
2014-06-26 0.080 0.863
2014-04-30 0.100 1.076
2014-02-14 0.100 1.121
2014-02-07 0.100 1.114
2013-10-25 0.100 1.142
2013-08-02 0.100 1.251
2013-07-31 0.100 1.391
2013-06-24 0.100 1.521
2013-03-06 0.200 2.812
2013-02-19 0.200 2.686
2013-02-18 0.200 2.641
2012-12-19 0.200 2.694
2012-10-02 0.200 3.147
2012-08-06 0.200 3.289
2012-08-03 0.200 3.658
2012-08-01 0.200 3.858
2012-06-21 0.200 3.918
2012-02-14 0.200 3.591
2012-02-02 0.200 2.785
2011-06-29 0.270 4.227
2011-06-16 0.270 3.481
2011-03-11 0.270 3.251
2011-02-02 0.270 3.046
2010-07-01 0.292 3.245
2010-02-09 0.600 6.303
2009-12-15 0.360 2.995
2009-10-06 0.360 2.876
2009-07-28 0.295 2.476
2009-07-09 0.360 3.755

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Banco Bilbao Vizcaya Argentaria's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Banco Bilbao Vizcaya Argentaria's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Banco Bilbao Vizcaya Argentaria afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Banco Bilbao Vizcaya Argentaria has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BBVA Management

 What is the CEO of Banco Bilbao Vizcaya Argentaria's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Onur Genç
COMPENSATION €2,807,000
AGE 44
TENURE AS CEO 0.4 years
CEO Bio

Mr. Onur Genç is Chief Executive Officer of BBVA Group. Mr. Genç has been Director at BBVA Compass Bancshares, Inc. Mr. Genç served as the Chief Executive Officer of BBVA Compass Bancshares, Inc. from January 2017 to December 20, 2018. Mr. Genç served as President of BBVA Compass Bancshares, Inc. from 2017 to January 2019. Mr. Genç was the Chief Executive Officer and President of Compass Bank from 2017 to January, 2019. He has been the Chief Executive Officer and a Director of Banco Bilbao Vizcaya Argentaria, S.A. since December 20, 2018. He was Country Manager of USA at Banco Bilbao Vizcaya Argentaria, S.A. since January 18, 2017 until December 20, 2018. He served as Deputy Chief Executive Officer at Turkiye Garanti Bankasi A.S. from September 2, 2015 to December 31, 2016 and also served as its Executive Vice President of Retail Banking from February 20, 2012 to December 31, 2016 and was responsible for its retail banking. Starting his career in 1996 in the US, his final role before joining the Dogus Group was Senior Partner, Turkey Director and Country Manager of Global Management Consultants McKinsey & Company. He joined Garanti in March 2012 as an Executive Vice President responsible for Retail and Private Banking. He became Partner in 2004, rising to Senior Partner and Turkey Office Manager in 2009. As of May 2012, he also became the Chief Executive Officer of Garanti Payment Systems. He started out his career in 1997 as a Financial Controller for American Airlines in Dallas, Texas. He serves as the Chairman of Garanti Mortgage. He serves as Vice Chairman of the Board at Garanti Emeklilik ve Hayat A.S. He serves as a Board Member of Garanti Asset Management, Garanti Technology and Garanti Payment Systems. Mr. Genç graduated from Bogaziçi University Electrical and Electronics Engineering Department and then went on to take a Postgraduate Degree in Business Administration at Carnegie Mellon University.

CEO Compensation
  • Insufficient data for Onur to compare compensation growth.
  • Onur's remuneration is about average for companies of similar size in Spain.
Management Team Tenure

Average tenure and age of the Banco Bilbao Vizcaya Argentaria management team in years:

2.2
Average Tenure
51
Average Age
  • The tenure for the Banco Bilbao Vizcaya Argentaria management team is about average.
Management Team

Carlos Torres Vila

TITLE
Group Executive Chairman
COMPENSATION
€3M
AGE
52
TENURE
0.4 yrs

Onur Genç

TITLE
CEO & Director
COMPENSATION
€3M
AGE
44
TENURE
0.4 yrs

José Manuel Martínez-Murillo

TITLE
Head of Global Economics & Public Affairs and Executive Director
COMPENSATION
€1M
AGE
60
TENURE
6.3 yrs

Jaime Saenz de Tejada Pulido

TITLE
Global Head of Finance
AGE
50
TENURE
4.3 yrs

Ricardo Laiseca

TITLE
Head of Global Finance

Gloria Justo

TITLE
Global Head of Shareholder & IR

María Jesús De Paz

TITLE
Global Head of Legal
TENURE
0.4 yrs

Paul Tobin

TITLE
Global Head of Communications & Responsible Business
AGE
45
TENURE
4 yrs

José Luis Rodríguez Alvarez

TITLE
Head of International Subsidiaries Structure - GA&IM

Eduardo Arbizu Lostao

TITLE
Global Head of Regulation & Internal Control
AGE
55
Board of Directors Tenure

Average tenure and age of the Banco Bilbao Vizcaya Argentaria board of directors in years:

3.5
Average Tenure
63
Average Age
  • The tenure for the Banco Bilbao Vizcaya Argentaria board of directors is about average.
Board of Directors

Carlos Torres Vila

TITLE
Group Executive Chairman
COMPENSATION
€3M
AGE
52
TENURE
0.4 yrs

Onur Genç

TITLE
CEO & Director
COMPENSATION
€3M
AGE
44
TENURE
0.4 yrs

José Andrés Torrecillas

TITLE
Deputy Chair of the Board
COMPENSATION
€486K
AGE
63
TENURE
0.1 yrs

José Manuel Martínez-Murillo

TITLE
Head of Global Economics & Public Affairs and Executive Director
COMPENSATION
€1M
AGE
60
TENURE
5.9 yrs

Juan Llorens

TITLE
Lead Director
COMPENSATION
€457K
AGE
68
TENURE
0.1 yrs

Belén López

TITLE
Independent Director
COMPENSATION
€327K
AGE
58
TENURE
7.2 yrs

Jaime Félix Lacorte

TITLE
Independent Director
COMPENSATION
€236K
AGE
66
TENURE
1.2 yrs

José Maldonado Ramos

TITLE
External Director
COMPENSATION
€390K
AGE
66
TENURE
19.3 yrs

Susana Rodríguez Vidarte

TITLE
External Director
COMPENSATION
€444K
AGE
63
TENURE
17 yrs

Carlos Loring Martínez de Irujo

TITLE
External Director
COMPENSATION
€446K
AGE
71
TENURE
15.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Banco Bilbao Vizcaya Argentaria insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
04. Apr 19 Buy Carlos Torres Vila Individual 01. Apr 19 01. Apr 19 179,593 €5.20 €933,884
04. Apr 19 Buy José Manuel Martínez-Murillo Individual 01. Apr 19 01. Apr 19 31,308 €5.20 €162,802
04. Apr 19 Buy Onur Genç Individual 29. Mar 19 29. Mar 19 41,267 €5.80 €239,349
22. Oct 18 Buy Francisco González Rodríguez Individual 17. Oct 18 17. Oct 18 19,653 €5.31 €104,357
X
Management checks
We assess Banco Bilbao Vizcaya Argentaria's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Banco Bilbao Vizcaya Argentaria has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BBVA News

Simply Wall St News

Introducing Banco Bilbao Vizcaya Argentaria (BME:BBVA), The Stock That Dropped 44% In The Last Five Years

View our latest analysis for Banco Bilbao Vizcaya Argentaria While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … Banco Bilbao Vizcaya Argentaria became profitable within the last five years. … We note that for Banco Bilbao Vizcaya Argentaria the TSR over the last 5 years was -32%, which is better than the share price return mentioned above.

Simply Wall St -

Could Banco Bilbao Vizcaya Argentaria, S.A.'s (BME:BBVA) Investor Composition Influence The Stock Price?

The big shareholder groups in Banco Bilbao Vizcaya Argentaria, S.A. … Banco Bilbao Vizcaya Argentaria is a pretty big company. … Check out our latest analysis for Banco Bilbao Vizcaya Argentaria

Simply Wall St -

Banco Bilbao Vizcaya Argentaria, S.A. (BME:BBVA): What Does The Future Look Like?

Based on Banco Bilbao Vizcaya Argentaria, S.A.'s (BME:BBVA) earnings update in December 2018, … as a -10% fall in profits is expected in the upcoming year

Simply Wall St -

2 Days Left Until Banco Bilbao Vizcaya Argentaria, S.A. (BME:BBVA) Trades Ex-Dividend

On the 10 April 2019, Banco Bilbao Vizcaya Argentaria, S.A. … (BME:BBVA) will be paying shareholders an upcoming dividend amount of €0.13 per share. … Should you diversify into Banco Bilbao Vizcaya Argentaria and boost your portfolio income stream?

Simply Wall St -

Do You Like Banco Bilbao Vizcaya Argentaria, S.A. (BME:BBVA) At This P/E Ratio?

We'll show how you can use Banco Bilbao Vizcaya Argentaria, S.A.'s (BME:BBVA) P/E ratio to inform your assessment of the investment opportunity. … Banco Bilbao Vizcaya Argentaria has a P/E ratio of 6.93, based on the last twelve months. … How Do You Calculate Banco Bilbao Vizcaya Argentaria's P/E Ratio

Simply Wall St -

What To Know Before Buying Banco Bilbao Vizcaya Argentaria, S.A. (BME:BBVA) For Its Dividend

Historically, Banco Bilbao Vizcaya Argentaria, S.A. … Let's take a look at Banco Bilbao Vizcaya Argentaria in more detail. … View our latest analysis for Banco Bilbao Vizcaya Argentaria

Simply Wall St -

Can Banco Bilbao Vizcaya Argentaria, S.A. (BME:BBVA) Survive The Next Financial Crisis?

(BME:BBVA) is a large-cap stock operating in the financial services sector with a market cap of €35b. … As major financial institutions return to health after the Global Financial Crisis, we are seeing an increase in market confidence, and understanding of, these “too-big-to-fail” banking stocks. … Investors should be more cautious when it comes to financial stocks given the different type of risk to which they are exposed.

Simply Wall St -

Banco Bilbao Vizcaya Argentaria, S.A. (BME:BBVA): Are Analysts Right About The Drop In Earnings?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … In December 2018, Banco Bilbao Vizcaya Argentaria, S.A.

Simply Wall St -

Should You Be Concerned About Banco Bilbao Vizcaya Argentaria, S.A.’s (BME:BBVA) Risk Exposure?

Banco Bilbao Vizcaya Argentaria, S.A. … Large commercial banks like Bank of America, Wells Fargo Bank and JP Morgan Chase had lending portfolios that were exposed to the turbulent credit market during the 2008 recession which led to billion dollar losses in shareholder equity. … View our latest analysis for Banco Bilbao Vizcaya Argentaria

Simply Wall St -

Is Banco Bilbao Vizcaya Argentaria, S.A. (BME:BBVA) Potentially Undervalued?

Let's talk about the popular Banco Bilbao Vizcaya Argentaria, S.A. … A question to answer is whether Banco Bilbao Vizcaya Argentaria's current trading price of €4.83 reflective of the actual value of the? … Let’s take a look at Banco Bilbao Vizcaya Argentaria’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

BBVA Company Info

Description

Banco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides retail and wholesale banking, asset management, and private banking services. The company accepts various deposits, such as current and savings accounts, term deposits, subordinated deposits, and other accounts. It also offers loan products; and foreclosed real-estate assets from residential mortgages and developers, as well as lending to developers. In addition, the company provides credit cards; and corporate and business banking, corporate and investment banking, and insurance. It operates in Spain, Mexico, South America, the United States, Turkey, Asia-Pacific, and rest of Europe. Banco Bilbao Vizcaya Argentaria, S.A. was founded in 1857 and is headquartered in Bilbao, Spain.

Details
Name: Banco Bilbao Vizcaya Argentaria, S.A.
BBVA
Exchange: BME
Founded: 1857
€34,213,847,660
6,640,886,580
Website: http://www.bbva.com
Address: Banco Bilbao Vizcaya Argentaria, S.A.
Plaza San Nicolás, 4,
Bilbao,
Basque Country, 48005,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME BBVA Registered Shares Bolsas y Mercados Espanoles ES EUR 19. Oct 1988
OTCPK BBVX.F Registered Shares Pink Sheets LLC US USD 19. Oct 1988
DB BOY Registered Shares Deutsche Boerse AG DE EUR 19. Oct 1988
XTRA BOY Registered Shares XETRA Trading Platform DE EUR 19. Oct 1988
LSE BVA Registered Shares London Stock Exchange GB EUR 19. Oct 1988
ENXTBR BBV Registered Shares Euronext Brussels BE EUR 19. Oct 1988
BIT BBVA Registered Shares Borsa Italiana IT EUR 19. Oct 1988
WBAG BBVA Registered Shares Wiener Boerse AG AT EUR 19. Oct 1988
BMV BBVA * Registered Shares Bolsa Mexicana de Valores MX MXN 19. Oct 1988
BATS-CHIXE BBVAE Registered Shares BATS 'Chi-X Europe' GB EUR 19. Oct 1988
NYSE BBVA SPONSORED ADR New York Stock Exchange US USD 14. Dec 1988
BASE BBV CEDEAR EACH REPR 1 ADS Buenos Aires Stock Exchange AR ARS 08. Dec 2000
DB BBVA SPONSORED ADR Deutsche Boerse AG DE EUR 14. Dec 1988
XTRA BBVA SPONSORED ADR XETRA Trading Platform DE EUR 14. Dec 1988
BVL BBVA SPONSORED ADR Bolsa de Valores de Lima PE USD 14. Dec 1988
Number of employees
Current staff
Staff numbers
125,749
Banco Bilbao Vizcaya Argentaria employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/18 20:56
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/18
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.