Addiko Bank Valuation

Q: What is the Fair Price of ADKOV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ADKOV (€11.9) is trading above our estimate of [[fair value]] (€4.98)

Is ADKOV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: ADKOV (€11.9) is trading above our estimate of fair value (€4.98)

Significantly Below Fair Value: ADKOV is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ADKOV. This is calculated by dividing ADKOV's market cap by their current earnings.
What is ADKOV's PE Ratio?
PE Ratio	7.6x
Earnings	€32.60m
Market Cap	€242.81m

ADKOV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	1.2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ADKOV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	3.9x
CBG Close Brothers Group	3.6x	16.0%	UK£321.5m
ARBB Arbuthnot Banking Group	4.7x	8.7%	UK£149.4m
STB Secure Trust Bank	2.5x	32.7%	UK£68.5m
TBCG TBC Bank Group	4.9x	16.8%	UK£1.8b
ADKOV Addiko Bank	7.6x	6.5%	€242.8m

Price-To-Earnings vs Peers: ADKOV is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (7.8x).

Price to Earnings Ratio vs Industry

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

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ADKOV is expensive based on its Price-To-Earnings Ratio (7.6x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is ADKOV'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.

ADKOV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ADKOV's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Secure Trust Bank

UK£68.5m

Provides banking and financial products and services in the United Kingdom.

STB

UK£3.59

-8.4%

-44.6%

Banco Santander

€67.5b

Provides various financial services worldwide.

BNC

€3.69

-4.2%

12.5%

UniCredit

€55.9b

Provides commercial banking services in Italy, Germany, Central Europe, and Eastern Europe.

0RLS

€36.28

-6.5%

46.9%