mBank S.A.

LSE:0DU3 Stock Report

Market Cap: zł31.8b

mBank Valuation

Is 0DU3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 0DU3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
zł1.60k
Fair Value
53.8% undervalued intrinsic discount
7
Number of Analysts

Below Fair Value: 0DU3 (PLN741.81) is trading below our estimate of fair value (PLN1604.07)

Significantly Below Fair Value: 0DU3 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0DU3?

Key metric: As 0DU3 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0DU3. This is calculated by dividing 0DU3's market cap by their current earnings.
What is 0DU3's PE Ratio?
PE Ratio14.1x
Earningszł2.24b
Market Capzł31.80b

Price to Earnings Ratio vs Peers

How does 0DU3's PE Ratio compare to its peers?

The above table shows the PE ratio for 0DU3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average5.4x
HSBK Halyk Bank of Kazakhstan
3.5xn/aUS$5.5b
BGEO Lion Finance Group
3.4x-5.1%UK£2.2b
TBCG TBC Bank Group
6.1x16.5%UK£2.2b
STAN Standard Chartered
8.5x5.5%UK£27.2b
0DU3 mBank
14.1x11.9%zł31.7b

Price-To-Earnings vs Peers: 0DU3 is expensive based on its Price-To-Earnings Ratio (14.1x) compared to the peer average (5.4x).

Price to Earnings Ratio vs Industry

How does 0DU3's PE Ratio compare vs other companies in the European Banks Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0DU3 14.1xIndustry Avg. 8.4xNo. of Companies44PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0DU3 is expensive based on its Price-To-Earnings Ratio (14.1x) compared to the European Banks industry average (8.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0DU3'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.

0DU3 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 0DU3'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?

The above table shows the analyst 0DU3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł741.81
zł721.84
-2.7%
8.4%zł785.00zł626.00n/a7
Feb ’26n/a
zł691.48
0%
10.3%zł784.00zł568.00n/a6
Jan ’26n/a
zł687.98
0%
10.4%zł784.00zł568.00n/a6
Dec ’25n/a
zł694.98
0%
11.3%zł784.00zł568.00n/a6
Nov ’25n/a
zł706.32
0%
8.0%zł784.00zł637.90n/a6
Oct ’25zł610.70
zł706.32
+15.7%
8.0%zł784.00zł637.90n/a6
Sep ’25n/a
zł692.15
0%
6.5%zł784.00zł637.90n/a6
Aug ’25zł622.06
zł689.98
+10.9%
6.6%zł784.00zł637.90n/a6
Jul ’25zł626.12
zł663.20
+5.9%
14.2%zł784.00zł495.00n/a5
Jun ’25n/a
zł678.40
0%
15.4%zł784.00zł495.00n/a5
May ’25zł683.74
zł690.78
+1.0%
11.9%zł783.90zł560.00n/a5
Apr ’25n/a
zł677.78
0%
15.4%zł783.90zł495.00n/a5
Mar ’25n/a
zł571.83
0%
13.6%zł671.00zł462.00n/a6
Feb ’25n/a
zł533.54
0%
17.5%zł664.00zł377.00n/a7
Jan ’25n/a
zł533.54
0%
17.5%zł664.00zł377.00n/a7
Dec ’24n/a
zł524.40
0%
17.5%zł664.00zł377.00n/a7
Nov ’24n/a
zł471.83
0%
18.8%zł637.80zł360.00n/a7
Oct ’24n/a
zł466.26
0%
18.7%zł637.80zł360.00zł610.707
Sep ’24n/a
zł439.97
0%
19.6%zł637.80zł360.00n/a7
Aug ’24n/a
zł442.54
0%
19.3%zł637.80zł360.00zł622.067
Jul ’24n/a
zł404.17
0%
8.5%zł462.00zł360.00zł626.126
Jun ’24zł352.80
zł385.83
+9.4%
13.4%zł462.00zł300.00n/a6
May ’24zł354.61
zł383.50
+8.1%
13.0%zł462.00zł300.00zł683.746
Apr ’24zł298.80
zł343.50
+15.0%
17.1%zł428.00zł245.00n/a6
Mar ’24n/a
zł343.33
0%
17.1%zł428.00zł245.00n/a6
Feb ’24zł316.43
zł343.33
+8.5%
17.1%zł428.00zł245.00n/a6
Analyst Price Target
Consensus Narrative from 7 Analysts
zł718.75
Fair Value
3.2% overvalued intrinsic discount
7
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/19 20:24
End of Day Share Price 2025/02/19 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

mBank S.A. is covered by 29 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Maxence Patrick Le Gouvello du TimatCA Cheuvreux
Andrzej PowierzaCitigroup Inc
Gabor KemenyConCorde Securities Ltd.