Executive Summary
CaixaBank, S.A., together with its subsidiaries, provides banking and financial products and services in Spain and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Adequate balance sheet average dividend payer.
Similar Companies
Share Price & News
How has CaixaBank's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CABK has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.3%
CABK
0.1%
ES Banks
0.2%
ES Market
1 Year Return
-26.3%
CABK
-44.6%
ES Banks
-21.1%
ES Market
Return vs Industry: CABK exceeded the Spanish Banks industry which returned -42.7% over the past year.
Return vs Market: CABK underperformed the Spanish Market which returned -20.3% over the past year.
Shareholder returns
| CABK | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.3% | 0.1% | 0.2% |
| 30 Day | 7.9% | 4.9% | -0.4% |
| 90 Day | 14.9% | 5.2% | 9.5% |
| 1 Year | -26.3%-26.3% | -42.7%-44.6% | -18.7%-21.1% |
| 3 Year | -53.0%-56.4% | -59.1%-63.6% | -21.6%-28.8% |
| 5 Year | -46.5%-54.1% | -57.5%-65.1% | -11.7%-25.9% |
Price Volatility Vs. Market
How volatile is CaixaBank's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall St
Is CaixaBank, S.A. (BME:CABK) A Great Dividend Stock?1 month ago | Simply Wall St
Don't Sell CaixaBank, S.A. (BME:CABK) Before You Read This1 month ago | Simply Wall St
What Type Of Shareholder Owns CaixaBank, S.A.'s (BME:CABK)?Valuation
Is CaixaBank undervalued compared to its fair value and its price relative to the market?
9.95x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CABK (€1.88) is trading above our estimate of fair value (€1.25)
Significantly Below Fair Value: CABK is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CABK is poor value based on its PE Ratio (9.9x) compared to the Banks industry average (7.5x).
PE vs Market: CABK is good value based on its PE Ratio (9.9x) compared to the Spanish market (15.3x).
Price to Earnings Growth Ratio
PEG Ratio: CABK is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: CABK is overvalued based on its PB Ratio (0.5x) compared to the ES Banks industry average (0.3x).
Next Steps
Future Growth
How is CaixaBank forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?
27.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CABK's forecast earnings growth (27.1% per year) is above the savings rate (1.3%).
Earnings vs Market: CABK's earnings (27.1% per year) are forecast to grow faster than the Spanish market (21.8% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CABK's revenue (2.2% per year) is forecast to grow slower than the Spanish market (5.6% per year).
High Growth Revenue: CABK's revenue (2.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CABK's Return on Equity is forecast to be low in 3 years time (5.9%).
Next Steps
Past Performance
How has CaixaBank performed over the past 5 years?
15.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CABK has a large one-off loss of €1.3B impacting its March 31 2020 financial results.
Growing Profit Margin: CABK's current net profit margins (14.9%) are lower than last year (23.5%).
Past Earnings Growth Analysis
Earnings Trend: CABK's earnings have grown by 15.1% per year over the past 5 years.
Accelerating Growth: CABK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CABK had negative earnings growth (-36.6%) over the past year, making it difficult to compare to the Banks industry average (-21.2%).
Return on Equity
High ROE: CABK's Return on Equity (5.2%) is considered low.
Next Steps
Financial Health
How is CaixaBank's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: CABK's Assets to Equity ratio (17.2x) is moderate.
Allowance for Bad Loans: CABK has a low allowance for bad loans (59%).
Low Risk Liabilities: 69% of CABK's liabilities are made up of primarily low risk sources of funding.
Loan Level: CABK has an appropriate level of Loans to Assets ratio (54%).
Low Risk Deposits: CABK's Loans to Deposits ratio (83%) is appropriate.
Level of Bad Loans: CABK has a high level of bad loans (3.7%).
Next Steps
Dividend
What is CaixaBank current dividend yield, its reliability and sustainability?
7.98%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CABK's dividend (7.98%) is higher than the bottom 25% of dividend payers in the Spanish market (2.54%).
High Dividend: CABK's dividend (7.98%) is in the top 25% of dividend payers in the Spanish market (7.43%)
Stability and Growth of Payments
Stable Dividend: CABK's dividend payments have been volatile in the past 10 years.
Growing Dividend: CABK's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (79.4%), CABK's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CABK's dividends in 3 years are forecast to be covered by earnings (54.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.0yrs
Average management tenure
CEO
Gonzalo Gortázar Rotaeche (55yo)
6.08yrs
Tenure
€3,762,000
Compensation
Mr. Gonzalo Gortázar Rotaeche has been the Chief Executive Officer of CaixaBank, S.A since June 30, 2014. Mr. Rotaeche served as an External Proprietary Director of Abertis Infraestructuras S.A. from May 1 ...
CEO Compensation Analysis
Compensation vs Market: Gonzalo's total compensation ($USD4.24M) is above average for companies of similar size in the Spanish market ($USD3.16M).
Compensation vs Earnings: Gonzalo's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 6.08yrs | €3.76m | 0.017% €1.9m | |
| Executive Deputy Chairman | 2.25yrs | €586.00k | 0.0027% €302.2k | |
| Chief Financial Officer | 6yrs | no data | no data | |
| Head of Financial Accounting | no data | no data | no data | |
| Director of Investor Relations | no data | no data | no data | |
| Head of Communication | no data | no data | no data | |
| Chief Business Officer & GM of Business | no data | no data | no data | |
| Chief Human Resources & Organisation Officer | no data | no data | no data | |
| Head of Risks Management & GM of Risks | no data | no data | no data | |
| Head of Equity Capital Markets | 3.83yrs | no data | no data |
6.0yrs
Average Tenure
64yo
Average Age
Experienced Management: CABK's management team is seasoned and experienced (6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 6.08yrs | €3.76m | 0.017% €1.9m | |
| Executive Deputy Chairman | 2.25yrs | €586.00k | 0.0027% €302.2k | |
| Proprietary Director | 3.5yrs | €120.00k | 0.000060% €6.7k | |
| Lead Independent Director | 0.50yr | €126.00k | 0.00021% €23.6k | |
| Chairman | 4.08yrs | €1.39m | 0.0018% €196.6k | |
| Independent Director | 6.25yrs | €194.00k | no data | |
| Proprietary Director | 8.08yrs | €120.00k | 0.00032% €35.9k | |
| Independent Director | 4.42yrs | €162.00k | no data | |
| Independent Director | 4.08yrs | €197.00k | 0.00012% €13.5k | |
| Independent Director | 2.83yrs | €197.00k | no data |
4.1yrs
Average Tenure
63yo
Average Age
Experienced Board: CABK's board of directors are considered experienced (4.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
CaixaBank, S.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: CaixaBank, S.A.
- Ticker: CABK
- Exchange: BME
- Founded: 1904
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: €11.233b
- Shares outstanding: 5.98b
- Website: https://www.caixabank.com
Number of Employees
Location
- CaixaBank, S.A.
- 2-4, Calle Pintor Sorolla
- Valencia
- 46002
- Spain
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CABK | BME (Bolsas y Mercados Espanoles) | Yes | Ordinary Registered Shares | ES | EUR | Oct 2007 |
| CIXP.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Registered Shares | US | USD | Oct 2007 |
| 0ILK | LSE (London Stock Exchange) | Yes | Ordinary Registered Shares | GB | EUR | Oct 2007 |
| CABK | WBAG (Wiener Boerse AG) | Yes | Ordinary Registered Shares | AT | EUR | Oct 2007 |
| CABKe | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Registered Shares | GB | EUR | Oct 2007 |
| 48CA | DB (Deutsche Boerse AG) | Yes | Ordinary Registered Shares | DE | EUR | Oct 2007 |
| CABK N | BMV (Bolsa Mexicana de Valores) | Yes | Ordinary Registered Shares | MX | MXN | Oct 2007 |
| CABK-U | ETLX (Eurotlx) | Yes | Ordinary Registered Shares | IT | EUR | Oct 2007 |
| CAIX.Y | OTCPK (Pink Sheets LLC) | ADR | US | USD | Dec 2011 | |
| A19JPD | DB (Deutsche Boerse AG) | 6.75%-FRN T1 PERP EUR200000 'REGS' | DE | EUR | Jun 2017 | |
| A19JPD | DB (Deutsche Boerse AG) | 6.75%-FRN T1 PERP EUR200000 'REGS' | DE | EUR | Jun 2017 |
Biography
CaixaBank, S.A., together with its subsidiaries, provides banking and financial products and services in Spain and internationally. The company operates through Banking and Insurance, and Non-Core Real Estate Activity segments. The Banking and Insurance segment engages in the banking business that include retail banking, corporate and institutional, and cash management, and market service activities; insurance business; and asset management business. The Non-Core Real Estate segment provides financing for non-core real estate assets, such as non-core developer lending, foreclosed real estate assets available for sale and rental, and other real estate assets and holdings. As of December 31, 2018, the company served its customers through 5,110 branches comprising 4,608 in Spain and 502 internationally; and approximately 9,425 ATMs in Spain and 1,369 ATMs in Portugal. CaixaBank, S.A. was founded in 1904 and is based in Valencia, Spain.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/07/01 20:50 |
| End of Day Share Price | 2020/07/01 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
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.