Secure Trust Bank PLC

BATS-CHIXE:STBL Stock Report

Market Cap: UK£77.8m

Secure Trust Bank Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: STBL (£4.12) is trading below our estimate of fair value (£39.53)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for STBL. This is calculated by dividing STBL's market cap by their current earnings.
What is STBL's PE Ratio?
PE Ratio2.9x
EarningsUK£26.90m
Market CapUK£77.81m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for STBL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average4.1x
ARBB Arbuthnot Banking Group
4.7x8.7%UK£144.6m
CBG Close Brothers Group
3.7x19.2%UK£329.0m
TBCG TBC Bank Group
4.9x16.8%UK£1.8b
BGEO Bank of Georgia Group
3.2x-3.2%UK£2.1b
STBL Secure Trust Bank
2.9x32.7%UK£77.8m

Price-To-Earnings vs Peers: STBL is good value based on its Price-To-Earnings Ratio (2.9x) compared to the peer average (4.1x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies43PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: STBL is good value based on its Price-To-Earnings Ratio (2.9x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is STBL'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.

STBL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.9x
Fair PE Ratio6.7x

Price-To-Earnings vs Fair Ratio: STBL is good value based on its Price-To-Earnings Ratio (2.9x) compared to the estimated Fair Price-To-Earnings Ratio (6.7x).

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 STBL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£4.12
UK£15.58
+278.2%
6.4%UK£16.50UK£14.20n/a3
Nov ’25UK£4.62
UK£15.58
+237.2%
6.4%UK£16.50UK£14.20n/a3
Oct ’25UK£8.40
UK£16.55
+97.1%
10.3%UK£18.21UK£14.20n/a3
Sep ’25UK£8.62
UK£16.55
+92.0%
10.3%UK£18.21UK£14.20n/a3
Aug ’25UK£8.52
UK£15.69
+84.1%
10.0%UK£17.86UK£14.20n/a3
Jul ’25UK£8.00
UK£15.69
+96.1%
10.0%UK£17.86UK£14.20n/a3
Jun ’25UK£8.42
UK£15.69
+86.3%
10.0%UK£17.86UK£14.20n/a3
May ’25UK£7.04
UK£15.69
+122.8%
10.0%UK£17.86UK£14.20n/a3
Apr ’25UK£6.58
UK£15.69
+138.4%
10.0%UK£17.86UK£14.20n/a3
Mar ’25UK£7.14
UK£15.52
+117.4%
8.6%UK£17.36UK£14.20n/a3
Feb ’25UK£6.98
UK£14.14
+102.6%
18.8%UK£17.36UK£10.00n/a4
Jan ’25UK£6.94
UK£13.53
+95.0%
20.1%UK£17.45UK£10.00n/a5
Dec ’24UK£6.50
UK£13.53
+108.2%
20.1%UK£17.45UK£10.00n/a5
Nov ’24UK£5.90
UK£14.22
+141.0%
20.5%UK£17.67UK£10.00UK£4.626
Oct ’24UK£6.50
UK£14.12
+117.2%
19.2%UK£17.67UK£10.00UK£8.407
Sep ’24UK£6.88
UK£13.56
+97.1%
18.7%UK£17.67UK£10.00UK£8.626
Aug ’24UK£5.77
UK£13.21
+128.9%
19.2%UK£17.85UK£9.89UK£8.526
Jul ’24UK£6.24
UK£13.21
+111.6%
19.2%UK£17.85UK£9.89UK£8.006
Jun ’24UK£6.50
UK£13.21
+103.2%
19.2%UK£17.85UK£9.89UK£8.426
May ’24UK£6.44
UK£13.21
+105.0%
19.2%UK£17.85UK£9.89UK£7.046
Apr ’24UK£6.70
UK£12.63
+88.5%
22.2%UK£17.66UK£9.91UK£6.586
Mar ’24UK£7.34
UK£12.63
+72.0%
22.2%UK£17.66UK£9.91UK£7.146
Feb ’24UK£7.22
UK£14.32
+98.3%
33.3%UK£24.07UK£9.91UK£6.987
Jan ’24UK£7.50
UK£15.12
+101.6%
31.5%UK£24.07UK£10.00UK£6.947
Dec ’23UK£6.56
UK£15.12
+130.5%
31.5%UK£24.07UK£10.00UK£6.507
Nov ’23UK£6.25
UK£16.32
+161.1%
27.8%UK£24.07UK£10.50UK£5.906

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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