Loading...

Banco Comercial Português

LSE:0RJN
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0RJN
LSE
€4B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Banco Comercial Português, S.A., together with its subsidiaries, provides various banking and financial products and services. The last earnings update was 62 days ago. More info.


Add to Portfolio Compare Print
0RJN Share Price and Events
7 Day Returns
-1.2%
LSE:0RJN
0%
GB Banks
1.5%
GB Market
1 Year Returns
-13.2%
LSE:0RJN
-9.9%
GB Banks
2.1%
GB Market
0RJN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Banco Comercial Português (0RJN) -1.2% 11.4% 3.2% -13.2% -91.1% -98.5%
GB Banks 0% 7.6% 6.2% -9.9% 15.3% -12.2%
GB Market 1.5% 5.2% 9.7% 2.1% 17.8% 6.8%
1 Year Return vs Industry and Market
  • 0RJN underperformed the Banks industry which returned -9.9% over the past year.
  • 0RJN underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.1% over the past year.
Price Volatility
0RJN
Industry
5yr Volatility vs Market

Value

 Is Banco Comercial Português undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Banco Comercial Português to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Banco Comercial Português.

LSE:0RJN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= €0.43 * 8.6%
€0.04
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. €0.43
Discount Rate (Cost of Equity) See below 17%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0RJN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 9%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 21%) (322.15%))
1.744
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.74
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.744 * 9.02%)
16.95%

Discounted Cash Flow Calculation for LSE:0RJN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Banco Comercial Português is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0RJN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.6% – 16.95%) * €0.43)
€-0.04
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.04 / (16.95% - 1.23%)
€-0.23
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €0.43 + €-0.23
€0.2
LSE:0RJN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0RJN represents 1.00518x of ENXTLS:BCP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00518x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 0.20 x 1.00518
€0.20
Value per share (EUR) From above. €0.20
Current discount Discount to share price of €0.25
= -1 x (€0.25 - €0.20) / €0.20
-23.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Banco Comercial Português is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Banco Comercial Português's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Banco Comercial Português's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0RJN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.02
ENXTLS:BCP Share Price ** ENXTLS (2019-04-24) in EUR €0.25
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.28x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Banco Comercial Português.

LSE:0RJN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTLS:BCP Share Price ÷ EPS (both in EUR)

= 0.25 ÷ 0.02

12.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco Comercial Português is overvalued based on earnings compared to the GB Banks industry average.
  • Banco Comercial Português is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Banco Comercial Português's expected growth come at a high price?
Raw Data
LSE:0RJN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
22.8%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.85x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

LSE:0RJN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.31x ÷ 22.8%

0.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco Comercial Português is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Banco Comercial Português's assets?
Raw Data
LSE:0RJN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.38
ENXTLS:BCP Share Price * ENXTLS (2019-04-24) in EUR €0.25
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.52x
LSE:0RJN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTLS:BCP Share Price ÷ Book Value per Share (both in EUR)

= 0.25 ÷ 0.38

0.65x

* Primary Listing of Banco Comercial Português.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco Comercial Português is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Banco Comercial Português's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Banco Comercial Português has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Banco Comercial Português expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Banco Comercial Português expected to grow at an attractive rate?
  • Banco Comercial Português's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Banco Comercial Português's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Banco Comercial Português's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0RJN Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0RJN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 22.8%
LSE:0RJN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 14.4%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0RJN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0RJN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,627 648 5
2020-12-31 2,450 561 8
2019-12-31 2,333 475 8
LSE:0RJN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,633 302
2018-09-30 1,629 -1 309
2018-06-30 1,551 928 245
2018-03-31 1,504 1,146 221
2017-12-31 1,432 549 185
2017-09-30 1,253 5,079 407
2017-06-30 1,131 4,765 310
2017-03-31 729 2,402 11
2016-12-31 688 2,708 -21
2016-09-30 769 1,541 -353
2016-06-30 859 2,407 -294
2016-03-31 1,359 2,735 100

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Banco Comercial Português's earnings are expected to grow significantly at over 20% yearly.
  • Banco Comercial Português's revenue is expected to grow by 14.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0RJN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Banco Comercial Português Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0RJN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.05 0.05 0.04 4.00
2020-12-31 0.04 0.04 0.03 6.00
2019-12-31 0.03 0.03 0.03 6.00
LSE:0RJN Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.02
2018-09-30 0.02
2018-06-30 0.02
2018-03-31 0.02
2017-12-31 0.01
2017-09-30 0.04
2017-06-30 0.04
2017-03-31 0.00
2016-12-31 -0.02
2016-09-30 -0.23
2016-06-30 -0.21
2016-03-31 0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Banco Comercial Português is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Banco Comercial Português's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Banco Comercial Português has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Banco Comercial Português performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Banco Comercial Português's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Banco Comercial Português has delivered over 20% year on year earnings growth in the past 5 years.
  • Banco Comercial Português's 1-year earnings growth exceeds its 5-year average (63.3% vs 62.5%)
  • Banco Comercial Português's earnings growth has exceeded the GB Banks industry average in the past year (63.3% vs 42.2%).
Earnings and Revenue History
Banco Comercial Português's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Banco Comercial Português Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0RJN Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,632.97 302.38 997.81
2018-09-30 1,628.54 308.83 976.17
2018-06-30 1,551.12 245.38 967.14
2018-03-31 1,504.00 220.64 928.24
2017-12-31 1,431.99 185.17 951.23
2017-09-30 1,253.00 407.08 945.84
2017-06-30 1,130.78 309.87 928.23
2017-03-31 729.10 11.15 955.30
2016-12-31 688.32 -21.29 946.85
2016-09-30 768.88 -352.85 938.45
2016-06-30 859.06 -294.49 947.62
2016-03-31 1,358.86 99.72 936.33
2015-12-31 1,456.05 179.49 934.71
2015-09-30 1,502.00 125.67 986.86
2015-06-30 1,304.49 96.82 1,031.76
2015-03-31 1,185.56 -47.97 1,094.05
2014-12-31 1,070.14 -185.79 1,119.81
2014-09-30 1,060.93 -217.11 1,127.29
2014-06-30 1,175.08 -302.55 1,138.40
2014-03-31 894.86 -627.64 1,144.01
2013-12-31 807.28 -695.45 1,145.30
2013-09-30 675.49 -792.33 1,210.82
2013-06-30 555.57 -905.23 1,247.91
2013-03-31 742.05 -648.89 1,227.06
2012-12-31 1,030.62 -488.79 1,281.35
2012-09-30 469.63 -759.56 1,434.99
2012-06-30 747.23 -566.02 1,436.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Banco Comercial Português has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Banco Comercial Português used its assets less efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Banco Comercial Português improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Banco Comercial Português's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Banco Comercial Português has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Banco Comercial Português's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Banco Comercial Português's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Banco Comercial Português Company Filings, last reported 3 months ago.

LSE:0RJN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 6,963.91 12,035.90 4,132.31
2018-09-30 6,944.65 11,152.46 2,342.24
2018-06-30 6,886.92 10,743.88 2,261.23
2018-03-31 6,825.17 11,420.92 3,016.88
2017-12-31 7,179.74 11,616.92 2,208.39
2017-09-30 7,058.05 13,020.16 2,997.97
2017-06-30 6,945.71 13,538.10 2,292.50
2017-03-31 6,734.75 12,869.79 2,064.91
2016-12-31 5,265.18 15,113.70 2,310.96
2016-09-30 4,948.36 6,713.03 2,271.85
2016-06-30 5,013.65 6,909.35 2,390.30
2016-03-31 5,652.27 7,502.43 3,593.08
2015-12-31 5,680.57 15,709.98 2,902.27
2015-09-30 5,736.55 8,040.40 3,100.23
2015-06-30 5,650.87 8,705.88 4,058.82
2015-03-31 5,567.74 9,418.75 3,857.85
2014-12-31 4,986.91 9,060.87 3,184.57
2014-09-30 5,584.60 11,157.05 3,118.63
2014-06-30 3,370.61 13,502.32 2,861.71
2014-03-31 3,338.52 15,456.07 2,761.40
2013-12-31 3,275.81 14,911.00 3,186.58
2013-09-30 3,376.20 15,707.46 3,405.16
2013-06-30 3,416.53 16,639.81 3,764.62
2013-03-31 3,868.47 18,207.58 3,609.95
2012-12-31 4,000.19 19,845.08 3,443.55
2012-09-30 3,832.33 20,453.19 3,315.47
2012-06-30 3,946.15 20,982.26 3,765.32
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Banco Comercial Português has an acceptable proportion of non-loan assets held.
  • Banco Comercial Português's liabilities are made up of primarily low risk sources of funding.
  • Loans at Banco Comercial Português are broadly funded by customer deposits.
  • Banco Comercial Português's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Banco Comercial Português has a sufficient allowance for bad loans.
  • Banco Comercial Português has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Banco Comercial Português's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Banco Comercial Português has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Banco Comercial Português's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Banco Comercial Português dividends. Estimated to be 5.02% next year.
If you bought €2,000 of Banco Comercial Português shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Banco Comercial Português's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Banco Comercial Português's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0RJN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.1%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0RJN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.02 5.00
2020-12-31 0.01 8.00
2019-12-31 0.01 6.00
LSE:0RJN Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2012-02-03 0.000 0.000
2011-11-24 0.000 0.000
2011-11-02 0.000 0.000
2011-09-01 0.000 0.000
2011-07-27 0.000 0.000
2011-05-13 0.000 0.000
2011-04-27 0.000 0.000
2011-03-25 0.000 0.000
2010-03-02 1.425 2.926
2010-02-10 1.425 2.542

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Banco Comercial Português has not reported any payouts.
  • Unable to verify if Banco Comercial Português's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Banco Comercial Português's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Banco Comercial Português has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Banco Comercial Português's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Banco Comercial Português afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Banco Comercial Português has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Banco Comercial Português's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Miguel Maya Pinheiro
COMPENSATION €308,127
AGE 54
TENURE AS CEO 0.9 years
CEO Bio

Mr. Miguel Maya Dias Pinheiro is a Vice Chair of Administrative Council at Banco Millennium Atlântico, SA since 2018. Mr. Pinheiro had been Vice Chairman of BIM – Banco Internacional. Positions held at Banco Comercial Português, SA: Member of the Board of Directors since February 28, 2012, Chief Executive Officer since May 30, 2018, Vice Chairman and Member of Board for International Strategy. Positions inside the BCP Group: • Chairman of the Board of Directors of Interfundos – Gestão de Fundos de Investimento Imobiliário, SA Manager of BCP África, SGPS, Lda. • Chairman of the Board of Directors of BCP Capital – Sociedade de Capital de Risco S.A. • Vice-Chairman of the Board of Directors and of the Remunerations Commission of BIM – Banco Internacional de Moçambique, S.A.; • Member of the Supervisory Board of Bank Millennium, S.A. (Poland). Positions outside the BCP Group: • Vice-Chairman of the Board of Directors of Banco Millennium Atlântico, S.A. • Member of the Senior Board - Alumni Clube ISCTE. Academic and Specialised Qualifications: • Licentiate Degree in Corporate Organisation and Management from Instituto Superior das Ciências do Trabalho e da Empresa (ISCTE) • Corporate Senior Management Programme (PADE) - AESE • Advanced Management Programme – INSEAD. Professional experience in the last 10 years relevant to the position: • From August 2007 to November 2009 – Head of the Office of the Chairman of the Executive Board of Directors of Banco Comercial Português, S.A. • From 11 November 2009 to 18 April 2011 - Member of the Executive Board of Directors of Banco Comercial Português, S.A. • From December 2009 to May 2011 - Chairman of the Board of Directors of Banco ActivoBank, S.A. • From 18 April 2011 to 28 February 2012 - Member of the Executive Board of Directors of Banco Comercial Português, S.A. • From March to June 2012- Chairman of the Board of Directors of Banco de Investimento Imobiliário, S.A. • From 23 April 2012 to 15 June 2015 - Member of the Board of Directors of Banco Millennium Angola, S.A. • From 15 June 2012 to 16 June 2015 - Member of the Supervisory Board of Portugal Capital Ventures - Sociedade de Capital de Risco S.A., in representation of Banco Comercial Português, S.A.

CEO Compensation
  • Miguel Maya's compensation has been consistent with company performance over the past year.
  • Miguel Maya's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Lingjiang Xu

TITLE
Executive Director
COMPENSATION
€37K
AGE
47

Miguel Maya Pinheiro

TITLE
Vice Chairman
COMPENSATION
€308K
AGE
54
TENURE
0.9 yrs

Miguel de Pereira de Braganca

TITLE
CFO & Director
COMPENSATION
€308K
AGE
52

José Iglésias Soares

TITLE
Chief Operating Officer
COMPENSATION
€270K
AGE
58

Bernardo Roquette de Aragão de Collaço

TITLE
Market Relations Representative & Head of the IR Division

Mário António Gaspar Neves

TITLE
Group Head of Compliance

Rui da Silva Teixeira

TITLE
Executive Director
COMPENSATION
€270K
AGE
58

Rui Pedro

TITLE
Head of Audit Division

João de Oliveira Jorge Palma

TITLE
Executive Director
AGE
52

Ana dos Santos de Pina Cabral

TITLE
Corporate Secretary
Board of Directors Tenure

Average tenure and age of the Banco Comercial Português board of directors in years:

4.5
Average Tenure
54
Average Age
  • The tenure for the Banco Comercial Português board of directors is about average.
Board of Directors

Nuno da Silva Amado

TITLE
Chairman of Board & Member of Board for International Strategy
COMPENSATION
€385K
AGE
61

Valter Dias de Barros

TITLE
Vice Chairman

Jorge Baptista Magalhães Correia

TITLE
Vice Chairman & Member of Remuneration and Welfare Board

Lingjiang Xu

TITLE
Executive Director
COMPENSATION
€37K
AGE
47
TENURE
1.9 yrs

Miguel Maya Pinheiro

TITLE
Vice Chairman
COMPENSATION
€308K
AGE
54

Miguel de Pereira de Braganca

TITLE
CFO & Director
COMPENSATION
€308K
AGE
52
TENURE
7.2 yrs

Rui da Silva Teixeira

TITLE
Executive Director
COMPENSATION
€270K
AGE
58
TENURE
8 yrs

João de Oliveira Jorge Palma

TITLE
Executive Director
AGE
52
TENURE
1.9 yrs

Filipe de Sousa Ferreira Abecasis

TITLE
General Manager and Chairman of the BCP Finance

António Martins Monteiro

TITLE
Member of Board for International Strategy
COMPENSATION
€173K
AGE
74
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Banco Comercial Português's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Banco Comercial Português has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Banco Comercial Português, S.A., together with its subsidiaries, provides various banking and financial products and services. It operates through Retail Banking; Companies, Corporate & Investment Banking; Private Banking; Non Core Business Portfolio; Foreign Business; and Other segments. The company offers a range of financial products and services, including current accounts, payment systems, savings and investment products, and private banking services; and asset management and investment banking services, such as mortgage loans, consumer credit, commercial banking, leasing, factoring and insurance, and others, as well as personal, mortgage, and automobile loans. It also provides various cards; cash advance and online statements; investment services in stocks, certificates, warrants, bonds, and funds; and health, house, car, personal accident and travel, and pets insurance solutions, as well as life reinsurance, real estate investment fund, trust, and pension services. In addition, the company offers venture capital, real-estate management, videotext, brokerage, consulting, and investment fund management services. Further, it provides term investment and financial insurance products; and treasury, real estate, international, and Internet and mobile banking services. It provides its banking products and services under the Millennium brand. As of December 31, 2017, the company operated 578 branches in Portugal; and 542 branches internationally. Banco Comercial Português, S.A. was founded in 1985 and is based in Porto, Portugal.

Details
Name: Banco Comercial Português, S.A.
0RJN
Exchange: LSE
Founded: 1985
€3,736,098,288
15,113,666,214
Website: http://ind.millenniumbcp.pt
Address: Banco Comercial Português, S.A.
Praça D. João I, 28,
Porto,
Norte, 4000-295,
Portugal
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTLS BCP Ordinary Shares Euronext Lisbon PT EUR 02. Jan 1992
DB BCPN Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0RJN Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
ENXTLS BBCP2 7%-FRN SUB PERP EUR1000 '1' Euronext Lisbon PT EUR 04. Jul 2011
DB A0U58K 7%-FRN SUB PERP EUR1000 '1' Deutsche Boerse AG DE EUR 04. Jul 2011
Number of employees
Current staff
Staff numbers
15,929
Banco Comercial Português employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:28
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.