Halyk Bank of Kazakhstan Valuation
Is HSBKL undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation 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 HSBKL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: HSBKL ($18.52) is trading below our estimate of fair value ($60.57)
Significantly Below Fair Value: HSBKL is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for HSBKL?
Key metric: As HSBKL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is HSBKL's PE Ratio? | |
|---|---|
| PE Ratio | 3.3x |
| Earnings | ₸792.47b |
| Market Cap | ₸2.60t |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | n/a |
Price to Earnings Ratio vs Peers
How does HSBKL's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 5.4x | ||
TCS TCS Group Holding | 6.5x | n/a | US$5.1b |
TBCG TBC Bank Group | 4.7x | 16.8% | UK£1.7b |
BGEO Bank of Georgia Group | 3x | -3.2% | UK£2.0b |
STAN Standard Chartered | 7.4x | 5.2% | UK£23.4b |
HSBKL Halyk Bank of Kazakhstan | 3.3x | n/a | US$5.0b |
Price-To-Earnings vs Peers: HSBKL is good value based on its Price-To-Earnings Ratio (3.3x) compared to the peer average (5.4x).
Price to Earnings Ratio vs Industry
How does HSBKL'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 | |
|---|---|---|---|
Price-To-Earnings vs Industry: HSBKL is good value based on its Price-To-Earnings Ratio (3.3x) compared to the European Banks industry average (7.3x).
Price to Earnings Ratio vs Fair Ratio
What is HSBKL'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 3.3x |
| Fair PE Ratio | n/a |
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HSBKL'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?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | US$18.52 | US$21.20 +14.5% | 14.3% | US$25.00 | US$17.60 | n/a | 3 |
| Nov ’25 | US$18.42 | US$21.20 +15.1% | 14.3% | US$25.00 | US$17.60 | n/a | 3 |
| Oct ’25 | US$17.58 | US$21.20 +20.6% | 14.3% | US$25.00 | US$17.60 | n/a | 3 |
| Sep ’25 | US$17.55 | US$21.20 +20.8% | 14.3% | US$25.00 | US$17.60 | n/a | 3 |
| Aug ’25 | US$16.54 | US$20.37 +23.1% | 10.8% | US$23.00 | US$17.60 | n/a | 3 |
| Jul ’25 | US$17.90 | US$24.05 +34.4% | 27.7% | US$35.10 | US$17.60 | n/a | 4 |
| Jun ’25 | US$17.76 | US$23.60 +32.9% | 29.4% | US$35.10 | US$17.60 | n/a | 4 |
| May ’25 | US$18.50 | US$23.60 +27.6% | 29.4% | US$35.10 | US$17.60 | n/a | 4 |
| Apr ’25 | US$17.80 | US$23.60 +32.6% | 29.4% | US$35.10 | US$17.60 | n/a | 4 |
| Mar ’25 | US$17.10 | US$22.88 +33.8% | 32.5% | US$35.10 | US$16.30 | n/a | 4 |
| Feb ’25 | US$14.56 | US$22.88 +57.1% | 32.5% | US$35.10 | US$16.30 | n/a | 4 |
| Jan ’25 | US$14.56 | US$22.70 +55.9% | 33.4% | US$35.10 | US$15.60 | n/a | 4 |
| Dec ’24 | US$14.46 | US$22.70 +57.0% | 33.4% | US$35.10 | US$15.60 | n/a | 4 |
| Nov ’24 | US$12.62 | US$22.70 +79.9% | 33.4% | US$35.10 | US$15.60 | US$18.42 | 4 |
| Oct ’24 | US$13.38 | US$20.42 +52.6% | 31.1% | US$31.80 | US$13.80 | US$17.58 | 5 |
| Sep ’24 | US$13.84 | US$20.42 +47.5% | 31.1% | US$31.80 | US$13.80 | US$17.55 | 5 |
| Aug ’24 | US$14.42 | US$20.42 +41.6% | 31.1% | US$31.80 | US$13.80 | US$16.54 | 5 |
| Jul ’24 | US$14.08 | US$20.42 +45.0% | 31.1% | US$31.80 | US$13.80 | US$17.90 | 5 |
| Jun ’24 | US$12.78 | US$21.12 +65.3% | 32.8% | US$31.80 | US$13.80 | US$17.76 | 4 |
| May ’24 | US$13.40 | US$19.10 +42.5% | 24.4% | US$26.20 | US$13.80 | US$18.50 | 4 |
| Apr ’24 | US$11.64 | US$17.26 +48.3% | 27.4% | US$26.20 | US$12.90 | US$17.80 | 5 |
| Mar ’24 | US$11.26 | US$16.93 +50.3% | 28.6% | US$26.20 | US$12.90 | US$17.10 | 5 |
| Feb ’24 | US$10.50 | US$16.93 +61.2% | 28.6% | US$26.20 | US$12.90 | US$14.56 | 5 |
| Jan ’24 | US$11.20 | US$16.93 +51.1% | 28.6% | US$26.20 | US$12.90 | US$14.56 | 5 |
| Dec ’23 | US$11.16 | US$17.15 +53.7% | 32.2% | US$26.20 | US$12.50 | US$14.46 | 4 |
| Nov ’23 | US$10.44 | US$16.18 +54.9% | 27.3% | US$23.50 | US$12.50 | US$12.62 | 4 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
Discover undervalued companies
Banco Santander
€66.6b
Provides various financial services worldwide.
BNC
€3.65
7D
-0.5%
1Y
11.6%
Secure Trust Bank
UK£70.4m
Provides banking and financial products and services in the United Kingdom.
STBL
UK£3.73
7D
4.2%
1Y
-42.6%
UniCredit
€56.0b
Provides commercial banking services in Italy, Germany, Central Europe, and Eastern Europe.
0RLS
€36.39
7D
-3.7%
1Y
45.0%