0RCS Stock Overview

Provides various banking and financial products and services in Greece and internationally. More details

0RCS fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	3/6
Past Performance	2/6
Financial Health	4/6
Dividends	0/6

Rewards

Trading at 37.9% below our estimate of its fair value

Earnings are forecast to grow 17.47% per year

Earnings have grown 34.2% per year over the past 5 years

Risk Analysis

Shares are highly illiquid

Community vs My Fair Value

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Alpha Services and Holdings S.A. Competitors

Halyk Bank of Kazakhstan

LSE:HSBK

US$5.8b

Lion Finance Group

LSE:BGEO

UK£2.4b

TBC Bank Group

LSE:TBCG

UK£2.4b

Standard Chartered

LSE:STAN

UK£28.1b

Price History & Performance

Summary of share price highs, lows and changes for Alpha Services and Holdings
Historical stock prices
Current Share Price	€2.22
52 Week High	€2.22
52 Week Low	€1.39
Beta	1.75
1 Month Change	22.68%
3 Month Change	38.04%
1 Year Change	30.95%
3 Year Change	105.76%
5 Year Change	275.68%
Change since IPO	-99.82%

Recent updates

Shareholder Returns

	0RCS	GB Banks	GB Market
7D	8.1%	-1.4%	-0.5%
1Y	30.9%	52.7%	8.5%

Return vs Industry: 0RCS underperformed the UK Banks industry which returned 52.7% over the past year.

Return vs Market: 0RCS exceeded the UK Market which returned 8.4% over the past year.

Price Volatility

Is 0RCS's price volatile compared to industry and market?
0RCS volatility
0RCS Average Weekly Movement	n/a
Banks Industry Average Movement	4.5%
Market Average Movement	4.9%
10% most volatile stocks in GB Market	10.1%
10% least volatile stocks in GB Market	2.7%

Stable Share Price: 0RCS's share price has been volatile over the past 3 months compared to the UK market.

Volatility Over Time: Insufficient data to determine 0RCS's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1879	6,034	Vassilios Psaltis	www.alphaholdings.gr

Alpha Services and Holdings S.A., together with its subsidiaries, provides various banking and financial products and services in Greece and internationally. The company operates through Retail, Wholesale, Wealth Management, and International segments. It offers various deposit products, including savings, current, time deposits, and other deposit products; debit and credit cards; credit facilities, such as mortgages, consumer, business loans, leasing products, factoring services, letters of guarantee/letters of credit, and others; and insurance and bancassurance products.

Alpha Services and Holdings S.A. Fundamentals Summary

How do Alpha Services and Holdings's earnings and revenue compare to its market cap?
0RCS fundamental statistics
Market cap	€5.18b
Earnings (TTM)	€549.00m
Revenue (TTM)	€1.79b

9.4x

P/E Ratio

0.6x

P/B Ratio

Is 0RCS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
0RCS income statement (TTM)
Revenue	€1.79b
Cost of Revenue	€0
Gross Profit	€1.79b
Other Expenses	€1.24b
Earnings	€549.00m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

May 09, 2025

Earnings per share (EPS)	0.24
Gross Margin	100.00%
Net Profit Margin	30.69%
Debt/Equity Ratio	87.0%

How did 0RCS perform over the long term?

See historical performance and comparison

Dividends

1.2%

Current Dividend Yield

13%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/03/16 20:24
End of Day Share Price	2025/03/14 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Alpha Services and Holdings S.A. is covered by 33 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Eleni Ismailou	Axia Ventures Group Ltd
Robert Bate	Barclays
Kirishanthan Vijayarajah	Barclays

0RCS Stock Overview

Rewards

Risk Analysis

Alpha Services and Holdings S.A. Competitors

LSE:HSBK

US$5.8b

LSE:BGEO

UK£2.4b

LSE:TBCG

UK£2.4b

LSE:STAN

UK£28.1b

Price History & Performance

Recent News & Updates

Now 38% undervalued after recent price drop

Full year 2024 earnings released: EPS: €0.26 (vs €0.22 in FY 2023)

Now 43% undervalued after recent price drop

Now 51% undervalued after recent price drop

Now 51% undervalued after recent price drop

Alpha Services and Holdings S.A., Annual General Meeting, Jul 25, 2025

Recent updates

Now 38% undervalued after recent price drop

Full year 2024 earnings released: EPS: €0.26 (vs €0.22 in FY 2023)

Now 43% undervalued after recent price drop

Now 51% undervalued after recent price drop

Now 51% undervalued after recent price drop

Alpha Services and Holdings S.A., Annual General Meeting, Jul 25, 2025

Alpha Services and Holdings S.A. to Report Fiscal Year 2024 Results on Feb 28, 2025

Now 54% undervalued after recent price drop

Third quarter 2024 earnings released: EPS: €0.085 (vs €0.08 in 3Q 2023)

Now 52% undervalued after recent price drop

Second quarter 2024 earnings released: EPS: €0.036 (vs €0.072 in 2Q 2023)

Inaugural dividend of €0.026 per share

Now 35% undervalued after recent price drop

First quarter 2024 earnings released: EPS: €0.087 (vs €0.047 in 1Q 2023)

Now 39% undervalued after recent price drop

Full year 2023 earnings released: EPS: €0.36 (vs €0.16 in FY 2022)

Investor sentiment deteriorates as stock falls 31%

Now 24% undervalued after recent price drop

Alpha Services and Holdings S.A. to Report First Half, 2024 Results on Aug 02, 2024

Alpha Services and Holdings S.A. to Report Q2, 2024 Results on Aug 02, 2024

Now 27% undervalued

Now 29% undervalued after recent price drop

Now 30% undervalued

Third quarter 2023 earnings released: EPS: €0.089 (vs €0.035 in 3Q 2022)

Now 40% undervalued after recent price drop

Now 42% undervalued after recent price drop

Now 35% undervalued after recent price drop

Now 32% undervalued after recent price drop

Second quarter 2023 earnings released: EPS: €0.082 (vs €0.048 in 2Q 2022)

Second quarter 2023 earnings released: EPS: €0.082 (vs €0.049 in 2Q 2022)

Investor sentiment improves as stock rises 15%

Now 28% undervalued after recent price drop

Now 26% undervalued

Full year 2022 earnings released: EPS: €0.072 (vs €1.49 loss in FY 2021)

Alpha Services and Holdings S.A. to Report First Half, 2023 Results on Aug 09, 2023

Alpha Services and Holdings S.A. to Report Nine Months, 2022 Results on Nov 08, 2022

Second quarter 2022 earnings released: EPS: €0.049 (vs €1.32 loss in 2Q 2021)

OTP Bank Nyrt. (BUSE:OTP) completed the acquisition of Alpha Bank Albania SHA from Alpha Services and Holdings S.A. (ATSE:ALPHA).

Alpha Services and Holdings S.A. to Report First Half, 2022 Results on Aug 02, 2022

Alpha Services and Holdings S.A., Annual General Meeting, Jul 22, 2022

Alpha Services and Holdings S.A. to Report Q1, 2022 Results on May 26, 2022

Alpha Services and Holdings S.A. to Report Fiscal Year 2021 Results on Mar 14, 2022

OTP Bank Nyrt. (BUSE:OTP) entered into a binding agreement to acquire Alpha Bank Albania SHA from Alpha Services and Holdings S.A. (ATSE:ALPHA) for €55 million.

Second quarter 2021 earnings released: €1.32 loss per share (vs €0.063 profit in 2Q 2020)

Davidson Kempner European Partners, LLP completed the acquisition of Galaxy NPL of Alpha Bank A.E. and Cepal Hellas Financial Services S.A. from Alpha Bank A.E.

First quarter 2021 earnings released: €0.18 loss per share (vs €0.008 loss in 1Q 2020)

Investor sentiment improved over the past week

Alpha Bank A.E. to Report Fiscal Year 2020 Results on Mar 23, 2021

LLC Silvinit-Transport and OOO Silvinit-Capital acquired Geo NPK LLC from Alpha Bank A.E. (ATSE:ALPHA).

Third quarter 2020 earnings released: EPS €0.028

Davidson Kempner European Partners, LLP agreed to acquire Galaxy NPL of Alpha Bank A.E. and Cepal Hellas Financial Services S.A. from Alpha Bank A.E.

Alpha Bank Reportedly Picks Davidson Kempner as Preferred Bidder for $12 Billion Galaxy Bad Loans

An unknown buyer acquired 5.3% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Alpha Bank A.E. (ATSE:ALPHA).

Alpha Bank A.E. to Report Nine Months, 2020 Results on Nov 26, 2020

Laskarides acquired a 14.4% stake in Hellenic Seaways from Alpha Bank SA and small investors, Agapitos, Eurobank Properties Real Est Inv Co and Interamerican Hellenic Life Insurance Company S.A.

United Group B.V. completed the acquisition of 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT).

First half earnings released

New 90-day low - €0.51

Alpha Bank A.E. (ATSE:ALPHA) completed the acquisition of remaining 60% stake in Cepal Hellas Financial Services S.A. from Centerbridge Partners, L.P.