Intesa Sanpaolo S.p.A.

LSE:0HBC Stock Report

Market Cap: €64.2b

Intesa Sanpaolo Valuation

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

Below Fair Value: 0HBC (€3.61) is trading below our estimate of fair value (€5.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0HBC. This is calculated by dividing 0HBC's market cap by their current earnings.
What is 0HBC's PE Ratio?
PE Ratio7.3x
Earnings€8.77b
Market Cap€64.18b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0HBC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.7x
BARC Barclays
9x10.8%UK£38.0b
NWG NatWest Group
7.1x0.3%UK£31.7b
LLOY Lloyds Banking Group
7.4x4.2%UK£33.1b
STAN Standard Chartered
7.3x5.1%UK£23.3b
0HBC Intesa Sanpaolo
7.3x0.2%€64.2b

Price-To-Earnings vs Peers: 0HBC is good value based on its Price-To-Earnings Ratio (7.3x) compared to the peer average (7.7x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0HBC 7.3xIndustry Avg. 7.4xNo. of Companies47PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0HBC is good value based on its Price-To-Earnings Ratio (7.3x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0HBC'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.

0HBC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.3x
Fair PE Ratio6x

Price-To-Earnings vs Fair Ratio: 0HBC is expensive based on its Price-To-Earnings Ratio (7.3x) compared to the estimated Fair Price-To-Earnings Ratio (6x).

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 0HBC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.61
€4.57
+26.6%
7.4%€5.00€3.50n/a20
Nov ’25€4.03
€4.49
+11.5%
6.8%€4.90€3.50n/a20
Oct ’25€3.78
€4.38
+15.9%
7.9%€4.80€3.50n/a21
Sep ’25€3.77
€4.35
+15.4%
7.9%€4.80€3.50n/a21
Aug ’25€3.65
€4.32
+18.4%
7.9%€4.74€3.40n/a21
Jul ’25€3.56
€4.13
+16.0%
7.7%€4.70€3.40n/a20
Jun ’25€3.61
€4.10
+13.7%
7.0%€4.62€3.40n/a20
May ’25€3.53
€3.80
+7.7%
10.7%€4.42€3.00n/a21
Apr ’25€3.36
€3.72
+10.5%
9.6%€4.39€3.00n/a21
Mar ’25€2.99
€3.66
+22.3%
8.4%€4.05€3.00n/a22
Feb ’25€2.80
€3.56
+27.0%
7.9%€3.90€3.00n/a21
Jan ’25€2.64
€3.54
+34.1%
9.0%€4.00€3.00n/a21
Dec ’24€2.67
€3.54
+33.0%
9.0%€4.00€3.00n/a21
Nov ’24€2.50
€3.44
+38.0%
9.0%€4.00€2.80€4.0321
Oct ’24€2.45
€3.44
+40.5%
9.3%€4.00€2.80€3.7821
Sep ’24€2.48
€3.34
+34.9%
9.9%€4.00€2.70€3.7723
Aug ’24€2.62
€3.29
+25.9%
9.7%€3.75€2.70€3.6522
Jul ’24€2.40
€3.19
+33.1%
8.5%€3.70€2.70€3.5622
Jun ’24€2.23
€3.16
+41.9%
9.6%€3.70€2.56€3.6122
May ’24€2.40
€3.02
+25.8%
10.5%€3.55€2.40€3.5322
Apr ’24€2.37
€2.99
+26.4%
10.2%€3.55€2.40€3.3622
Mar ’24€2.54
€3.00
+18.2%
10.3%€3.55€2.40€2.9923
Feb ’24€2.45
€2.79
+13.6%
8.7%€3.37€2.40€2.8023
Jan ’24€2.09
€2.73
+30.5%
10.4%€3.37€2.25€2.6422
Dec ’23€2.10
€2.72
+29.2%
11.1%€3.37€2.20€2.6722
Nov ’23€1.96
€2.49
+27.2%
17.0%€3.37€1.22€2.5023

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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