Bank of Georgia Group PLC

BATS-CHIXE:BGEOL Stock Report

Market Cap: UK£2.2b

Bank of Georgia Group Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: BGEOL (£49.85) is trading below our estimate of fair value (£137.61)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BGEOL. This is calculated by dividing BGEOL's market cap by their current earnings.
What is BGEOL's PE Ratio?
PE Ratio3.2x
EarningsGEL 2.31b
Market CapGEL 7.41b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BGEOL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average4.5x
TBCG TBC Bank Group
4.8x16.8%UK£1.7b
TCS TCS Group Holding
6.5xn/aUS$5.1b
HSBK Halyk Bank of Kazakhstan
3.3xn/aUS$5.2b
CBG Close Brothers Group
3.4x16.0%UK£307.5m
BGEOL Bank of Georgia Group
3.2x-3.2%UK£2.2b

Price-To-Earnings vs Peers: BGEOL is good value based on its Price-To-Earnings Ratio (3.2x) compared to the peer average (4.5x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies47PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BGEOL is good value based on its Price-To-Earnings Ratio (3.2x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is BGEOL'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.

BGEOL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.2x
Fair PE Ratio4.7x

Price-To-Earnings vs Fair Ratio: BGEOL is good value based on its Price-To-Earnings Ratio (3.2x) compared to the estimated Fair Price-To-Earnings Ratio (4.7x).

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 BGEOL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£49.85
UK£58.25
+16.9%
15.7%UK£72.50UK£45.50n/a5
Nov ’25UK£42.55
UK£57.25
+34.6%
13.4%UK£67.50UK£45.50n/a5
Oct ’25UK£35.80
UK£57.25
+59.9%
13.4%UK£67.50UK£45.50n/a5
Sep ’25UK£45.35
UK£57.25
+26.2%
13.4%UK£67.50UK£45.50n/a5
Aug ’25UK£43.60
UK£56.85
+30.4%
13.1%UK£67.50UK£45.50n/a5
Jul ’25UK£40.80
UK£56.84
+39.3%
14.3%UK£67.50UK£42.70n/a5
Jun ’25UK£37.40
UK£56.84
+52.0%
14.3%UK£67.50UK£42.70n/a5
May ’25UK£54.10
UK£62.60
+15.7%
23.8%UK£91.40UK£42.70n/a6
Apr ’25UK£50.75
UK£62.27
+22.7%
24.2%UK£91.40UK£42.70n/a6
Mar ’25UK£49.90
UK£58.46
+17.2%
23.5%UK£83.05UK£42.70n/a6
Feb ’25UK£37.95
UK£53.85
+41.9%
29.9%UK£83.05UK£39.00n/a5
Jan ’25UK£39.70
UK£53.85
+35.6%
29.9%UK£83.05UK£39.00n/a5
Dec ’24UK£34.75
UK£52.86
+52.1%
28.1%UK£83.05UK£39.00n/a6
Nov ’24UK£33.50
UK£51.37
+53.3%
23.6%UK£70.93UK£39.00UK£42.555
Oct ’24UK£36.90
UK£51.77
+40.3%
22.7%UK£70.93UK£39.00UK£35.805
Sep ’24UK£34.70
UK£51.77
+49.2%
22.7%UK£70.93UK£39.00UK£45.355
Aug ’24UK£32.75
UK£40.39
+23.3%
34.0%UK£65.35UK£21.20UK£43.606
Jul ’24UK£29.20
UK£40.39
+38.3%
34.0%UK£65.35UK£21.20UK£40.806
Jun ’24UK£30.40
UK£40.14
+32.0%
33.1%UK£63.83UK£21.20UK£37.406
May ’24UK£29.50
UK£38.13
+29.2%
30.5%UK£57.52UK£21.20UK£54.106
Apr ’24UK£27.55
UK£37.18
+34.9%
29.6%UK£57.52UK£21.20UK£50.756
Mar ’24UK£28.65
UK£37.18
+29.8%
29.6%UK£57.52UK£21.20UK£49.906
Feb ’24UK£26.75
UK£34.67
+29.6%
24.3%UK£47.77UK£21.20UK£37.956
Jan ’24UK£26.10
UK£32.27
+23.6%
33.2%UK£47.77UK£17.20UK£39.706
Dec ’23UK£25.00
UK£31.04
+24.2%
35.7%UK£47.77UK£17.20UK£34.756
Nov ’23UK£22.40
UK£25.80
+15.2%
29.2%UK£40.31UK£17.20UK£33.506

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

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