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Banco Bilbao Vizcaya Argentaria

LSE:BVA
Snowflake Description

Proven track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BVA
LSE
€36B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Banco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides retail and wholesale banking, asset management, and private banking services. The last earnings update was 39 days ago. More info.


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BVA Share Price and Events
7 Day Returns
-0.4%
LSE:BVA
0.9%
GB Banks
0.5%
GB Market
1 Year Returns
-16.6%
LSE:BVA
-9.3%
GB Banks
0.8%
GB Market
BVA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Banco Bilbao Vizcaya Argentaria (BVA) -0.4% 6.5% 4.9% -16.6% -17.3% -38.8%
GB Banks 0.9% 7.9% 5.9% -9.3% 18.7% -10.6%
GB Market 0.5% 3.6% 7.6% 0.8% 15.9% 6.2%
1 Year Return vs Industry and Market
  • BVA underperformed the Banks industry which returned -9.3% over the past year.
  • BVA underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 0.8% over the past year.
Price Volatility
BVA
Industry
5yr Volatility vs Market
Related Companies

BVA Value

 Is Banco Bilbao Vizcaya Argentaria 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 Bilbao Vizcaya Argentaria 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 Bilbao Vizcaya Argentaria.

LSE:BVA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 19 analysts.
= Stable Book Value * Return on Equity
= €7.83 * 9.3%
€0.73
Book Value of Equity per Share Weighted future Book Value estimates from 13 analysts. €7.83
Discount Rate (Cost of Equity) See below 14.2%
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:BVA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 8.2%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.592 (1 + (1- 25%) (288.63%))
1.586
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.59
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.586 * 8.18%)
14.2%

Discounted Cash Flow Calculation for LSE:BVA using Excess Returns Model Model

The calculations below outline how an intrinsic value for Banco Bilbao Vizcaya Argentaria 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:BVA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.3% – 14.2%) * €7.83)
€-0.38
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.38 / (14.2% - 1.23%)
€-2.95
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €7.83 + €-2.95
€4.88
LSE:BVA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:BVA represents 1.0042x of BME:BBVA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.0042x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 4.88 x 1.0042
€4.90
Value per share (EUR) From above. €4.90
Current discount Discount to share price of €5.50
= -1 x (€5.50 - €4.90) / €4.90
-12.2%

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

  • The current share price of Banco Bilbao Vizcaya Argentaria 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 Bilbao Vizcaya Argentaria's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Banco Bilbao Vizcaya Argentaria's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:BVA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.76
BME:BBVA Share Price ** BME (2019-04-23) in EUR €5.48
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.29x

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

** Primary Listing of Banco Bilbao Vizcaya Argentaria.

LSE:BVA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:BBVA Share Price ÷ EPS (both in EUR)

= 5.48 ÷ 0.76

7.25x

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

  • Banco Bilbao Vizcaya Argentaria is good value based on earnings compared to the GB Banks industry average.
  • Banco Bilbao Vizcaya Argentaria 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 Bilbao Vizcaya Argentaria's expected growth come at a high price?
Raw Data
LSE:BVA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts
-1%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.25x ÷ -1%

-7.28x

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

  • Banco Bilbao Vizcaya Argentaria earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Banco Bilbao Vizcaya Argentaria's assets?
Raw Data
LSE:BVA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €7.12
BME:BBVA Share Price * BME (2019-04-23) in EUR €5.48
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 1.51x
LSE:BVA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:BBVA Share Price ÷ Book Value per Share (both in EUR)

= 5.48 ÷ 7.12

0.77x

* Primary Listing of Banco Bilbao Vizcaya Argentaria.

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

  • Banco Bilbao Vizcaya Argentaria is good value based on assets compared to the GB Banks industry average.
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Value checks
We assess Banco Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria 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.

BVA Future Performance

 How is Banco Bilbao Vizcaya Argentaria expected to perform in the next 1 to 3 years based on estimates from 21 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
-1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Banco Bilbao Vizcaya Argentaria expected to grow at an attractive rate?
  • Banco Bilbao Vizcaya Argentaria's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Banco Bilbao Vizcaya Argentaria's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Banco Bilbao Vizcaya Argentaria'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:BVA Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:BVA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts -1%
LSE:BVA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 21 Analysts 6%
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 11%
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:BVA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:BVA Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 25,785 5,056 1
2021-12-31 25,330 4,796 16
2020-12-31 24,417 4,688 21
2019-12-31 24,000 4,505 19
LSE:BVA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 20,661 8,664 5,011
2018-09-30 20,372 4,574 4,092
2018-06-30 20,326 -1,777 3,391
2018-03-31 20,426 9,738 3,359
2017-12-31 20,542 2,055 3,218
2017-09-30 21,682 -463 3,867
2017-06-30 21,598 6,305 3,803
2017-03-31 21,578 2,755 3,705
2016-12-31 20,893 6,623 3,215
2016-09-30 20,356 15,485 3,525
2016-06-30 18,427 19,628 1,389
2016-03-31 17,322 23,059 1,603

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Banco Bilbao Vizcaya Argentaria's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Banco Bilbao Vizcaya Argentaria's revenue is expected to grow by 6% 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:BVA 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 21 Analyst Estimates (S&P Global) See Below

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

LSE:BVA Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.70 0.81 0.53 12.00
2020-12-31 0.69 0.81 0.54 18.00
2019-12-31 0.67 0.76 0.58 18.00
LSE:BVA Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.76
2018-09-30 0.62
2018-06-30 0.52
2018-03-31 0.51
2017-12-31 0.48
2017-09-30 0.59
2017-06-30 0.57
2017-03-31 0.57
2016-12-31 0.49
2016-09-30 0.55
2016-06-30 0.23
2016-03-31 0.24

*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 Bilbao Vizcaya Argentaria is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
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Future performance checks
We assess Banco Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria has a total score of 1/6, 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.

BVA Past Performance

  How has Banco Bilbao Vizcaya Argentaria 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 Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria has delivered over 20% year on year earnings growth in the past 5 years.
  • Banco Bilbao Vizcaya Argentaria's 1-year earnings growth exceeds its 5-year average (55.7% vs 32.9%)
  • Banco Bilbao Vizcaya Argentaria's earnings growth has exceeded the GB Banks industry average in the past year (55.7% vs 42.2%).
Earnings and Revenue History
Banco Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BVA 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 20,661.00 5,011.00 11,285.00
2018-09-30 20,372.00 4,092.00 11,418.00
2018-06-30 20,326.00 3,391.00 11,691.00
2018-03-31 20,426.00 3,359.00 11,891.00
2017-12-31 20,542.00 3,218.00 12,043.00
2017-09-30 21,682.00 3,867.00 12,175.00
2017-06-30 21,598.00 3,803.00 12,329.00
2017-03-31 21,578.00 3,705.00 12,326.00
2016-12-31 20,893.00 3,215.00 12,359.00
2016-09-30 20,356.00 3,525.00 12,379.00
2016-06-30 18,427.00 1,389.00 12,363.00
2016-03-31 17,322.00 1,603.00 12,125.00
2015-12-31 17,688.00 2,430.00 11,642.00
2015-09-30 17,030.00 2,265.00 11,165.00
2015-06-30 17,131.00 3,923.00 10,560.00
2015-03-31 17,136.00 3,404.00 10,288.00
2014-12-31 15,980.00 2,492.00 10,141.00
2014-09-30 12,889.00 -930.00 8,719.00
2014-06-30 12,841.00 -1,336.00 8,997.00
2014-03-31 12,731.00 -892.00 9,211.00
2013-12-31 12,826.00 183.00 10,375.00
2013-09-30 13,574.00 3,053.00 9,383.00
2013-06-30 13,714.00 2,921.00 9,376.00
2013-03-31 13,207.00 2,204.00 9,140.00
2012-12-31 13,345.00 1,378.00 8,979.00
2012-09-30 14,345.00 1,056.00 9,697.00
2012-06-30 14,595.00 1,797.00 9,388.00

*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 Bilbao Vizcaya Argentaria has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Banco Bilbao Vizcaya Argentaria used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Banco Bilbao Vizcaya Argentaria 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 Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria has a total score of 4/6, 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.

BVA Health

 How is Banco Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria Company Filings, last reported 3 months ago.

LSE:BVA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 52,873.00 104,640.00 109,912.00
2018-09-30 51,097.00 115,569.00 107,305.00
2018-06-30 52,084.00 112,339.00 107,631.00
2018-03-31 51,822.00 107,756.00 109,794.00
2017-12-31 53,323.00 143,031.00 104,180.00
2017-09-30 54,400.00 144,280.00 83,583.00
2017-06-30 54,727.00 149,160.00 102,642.00
2017-03-31 54,919.00 154,699.00 94,129.00
2016-12-31 55,428.00 168,423.00 112,020.00
2016-09-30 55,890.00 168,611.00 93,732.00
2016-06-30 55,962.00 175,261.00 121,070.00
2016-03-31 54,517.00 182,303.00 98,102.00
2015-12-31 55,283.00 188,094.00 109,610.00
2015-09-30 53,601.00 201,976.00 100,128.00
2015-06-30 50,996.00 187,828.00 113,769.00
2015-03-31 52,366.00 197,248.00 110,222.00
2014-12-31 51,608.00 185,626.00 115,002.00
2014-09-30 48,389.00 99,210.00 111,144.00
2014-06-30 46,866.00 178,285.00 110,614.00
2014-03-31 44,057.00 94,970.00 125,420.00
2013-12-31 44,565.00 170,090.00 98,993.00
2013-09-30 47,355.00 101,808.00 99,335.00
2013-06-30 47,398.00 187,752.00 104,112.00
2013-03-31 46,573.00 95,822.00 132,341.00
2012-12-31 43,661.00 206,488.00 119,040.00
2012-09-30 43,749.00 113,745.00 111,656.00
2012-06-30 43,050.00 220,892.00 112,590.00
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 Bilbao Vizcaya Argentaria has an acceptable proportion of non-loan assets held.
  • Banco Bilbao Vizcaya Argentaria's liabilities are made up of primarily low risk sources of funding.
  • Loans at Banco Bilbao Vizcaya Argentaria are broadly funded by customer deposits.
  • Banco Bilbao Vizcaya Argentaria's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Banco Bilbao Vizcaya Argentaria has a low allowance for bad loans.
  • Banco Bilbao Vizcaya Argentaria has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Banco Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria has a total score of 4/6, 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.

BVA Dividends

 What is Banco Bilbao Vizcaya Argentaria'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
4.75%
Current annual income from Banco Bilbao Vizcaya Argentaria dividends. Estimated to be 5.32% next year.
If you bought €2,000 of Banco Bilbao Vizcaya Argentaria shares you are expected to receive €95 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?
  • Banco Bilbao Vizcaya Argentaria's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Banco Bilbao Vizcaya Argentaria's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
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:BVA 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 21 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 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
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 5.2%

Industry and Market average data is calculated daily.

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

LSE:BVA Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.37 1.00
2021-12-31 0.31 17.00
2020-12-31 0.29 22.00
2019-12-31 0.27 22.00
LSE:BVA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-12 0.260 4.902
2018-09-26 0.250 4.976
2018-02-12 0.300 4.878
2017-11-07 0.180 2.483
2017-10-27 0.180 2.447
2017-09-27 0.180 2.462
2017-02-14 0.160 2.209
2017-02-01 0.160 2.620
2016-12-21 0.160 2.527
2016-08-03 0.160 2.799
2016-07-29 0.160 3.224
2016-06-22 0.160 3.119
2016-02-10 0.160 2.758
2016-02-09 0.160 2.923
2015-12-22 0.160 2.622
2015-08-07 0.080 1.022
2015-07-31 0.080 0.866
2015-07-01 0.080 0.880
2015-03-13 0.080 0.869
2015-02-06 0.080 0.919
2014-10-29 0.080 0.986
2014-08-05 0.080 0.870
2014-07-30 0.080 0.875
2014-06-26 0.080 0.863
2014-04-30 0.100 1.076
2014-02-14 0.100 1.121
2014-02-07 0.100 1.114
2013-10-25 0.100 1.142
2013-08-02 0.100 1.251
2013-07-31 0.100 1.391
2013-06-24 0.100 1.521
2013-03-06 0.200 2.812
2013-02-19 0.200 2.686
2013-02-18 0.200 2.641
2012-12-19 0.200 2.694
2012-10-02 0.200 3.147
2012-08-06 0.200 3.289
2012-08-03 0.200 3.658
2012-08-01 0.200 3.858
2012-06-21 0.200 3.918
2012-02-14 0.200 3.591
2012-02-02 0.200 2.785
2011-06-29 0.270 4.227
2011-06-16 0.270 3.481
2011-03-11 0.270 3.251
2011-02-02 0.270 3.046
2010-07-01 0.292 3.245
2010-02-09 0.600 6.303
2009-12-15 0.360 2.995
2009-10-06 0.360 2.876
2009-07-28 0.295 2.476
2009-07-09 0.360 3.755
2009-04-24 0.000 0.000

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Banco Bilbao Vizcaya Argentaria's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
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 Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Banco Bilbao Vizcaya Argentaria has a total score of 3/6, see the detailed checks below.


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

BVA Management

 What is the CEO of Banco Bilbao Vizcaya Argentaria'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
Onur Genç
COMPENSATION €2,807,000
AGE 44
TENURE AS CEO 0.3 years
CEO Bio

Mr. Onur Genç is Chief Executive Officer of BBVA Group. Mr. Genç has been Director at BBVA Compass Bancshares, Inc. Mr. Genç served as the Chief Executive Officer of BBVA Compass Bancshares, Inc. from January 2017 to December 20, 2018. Mr. Genç served as President of BBVA Compass Bancshares, Inc. from 2017 to January 2019. Mr. Genç was the Chief Executive Officer and President of Compass Bank from 2017 to January, 2019. He has been the Chief Executive Officer and a Director of Banco Bilbao Vizcaya Argentaria, S.A. since December 20, 2018. He was Country Manager of USA at Banco Bilbao Vizcaya Argentaria, S.A. since January 18, 2017 until December 20, 2018. He served as Deputy Chief Executive Officer at Turkiye Garanti Bankasi A.S. from September 2, 2015 to December 31, 2016 and also served as its Executive Vice President of Retail Banking from February 20, 2012 to December 31, 2016 and was responsible for its retail banking. Starting his career in 1996 in the US, his final role before joining the Dogus Group was Senior Partner, Turkey Director and Country Manager of Global Management Consultants McKinsey & Company. He joined Garanti in March 2012 as an Executive Vice President responsible for Retail and Private Banking. He became Partner in 2004, rising to Senior Partner and Turkey Office Manager in 2009. As of May 2012, he also became the Chief Executive Officer of Garanti Payment Systems. He started out his career in 1997 as a Financial Controller for American Airlines in Dallas, Texas. He serves as the Chairman of Garanti Mortgage. He serves as Vice Chairman of the Board at Garanti Emeklilik ve Hayat A.S. He serves as a Board Member of Garanti Asset Management, Garanti Technology and Garanti Payment Systems. Mr. Genç graduated from Bogaziçi University Electrical and Electronics Engineering Department and then went on to take a Postgraduate Degree in Business Administration at Carnegie Mellon University.

CEO Compensation
  • Insufficient data for Onur to compare compensation growth.
  • Onur's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Banco Bilbao Vizcaya Argentaria management team in years:

2.1
Average Tenure
51
Average Age
  • The tenure for the Banco Bilbao Vizcaya Argentaria management team is about average.
Management Team

Carlos Torres Vila

TITLE
Group Executive Chairman
COMPENSATION
€3M
AGE
52
TENURE
0.3 yrs

Onur Genç

TITLE
CEO & Director
COMPENSATION
€3M
AGE
44
TENURE
0.3 yrs

José Manuel Martínez-Murillo

TITLE
Head of Global Economics & Public Affairs and Executive Director
COMPENSATION
€1M
AGE
60
TENURE
6.3 yrs

Jaime Saenz de Tejada Pulido

TITLE
Global Head of Finance
AGE
50
TENURE
4.3 yrs

Ricardo Laiseca

TITLE
Head of Global Finance

Gloria Justo

TITLE
Global Head of Shareholder & IR

María Jesús De Paz

TITLE
Global Head of Legal
TENURE
0.3 yrs

Paul Tobin

TITLE
Global Head of Communications & Responsible Business
AGE
45
TENURE
3.9 yrs

José Luis Rodríguez Alvarez

TITLE
Head of International Subsidiaries Structure - GA&IM

Eduardo Arbizu Lostao

TITLE
Global Head of Regulation & Internal Control
AGE
55
Board of Directors Tenure

Average tenure and age of the Banco Bilbao Vizcaya Argentaria board of directors in years:

7.4
Average Tenure
63
Average Age
  • The tenure for the Banco Bilbao Vizcaya Argentaria board of directors is about average.
Board of Directors

Carlos Torres Vila

TITLE
Group Executive Chairman
COMPENSATION
€3M
AGE
52
TENURE
0.3 yrs

Onur Genç

TITLE
CEO & Director
COMPENSATION
€3M
AGE
44
TENURE
0.3 yrs

José Manuel Martínez-Murillo

TITLE
Head of Global Economics & Public Affairs and Executive Director
COMPENSATION
€1M
AGE
60
TENURE
5.8 yrs

Juan Llorens

TITLE
Independent Director
COMPENSATION
€457K
AGE
68
TENURE
7.8 yrs

Belén López

TITLE
Independent Director
COMPENSATION
€327K
AGE
58
TENURE
7.1 yrs

José Andrés Torrecillas

TITLE
Lead Independent Director
COMPENSATION
€486K
AGE
63
TENURE
3.3 yrs

José Maldonado Ramos

TITLE
External Director
COMPENSATION
€390K
AGE
66
TENURE
19.3 yrs

Susana Rodríguez Vidarte

TITLE
External Director
COMPENSATION
€444K
AGE
63
TENURE
16.9 yrs

Carlos Loring Martínez de Irujo

TITLE
External Director
COMPENSATION
€446K
AGE
71
TENURE
15.2 yrs

Tomás Alfaro Drake

TITLE
External Director
COMPENSATION
€258K
AGE
67
TENURE
13.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Banco Bilbao Vizcaya Argentaria insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
04. Apr 19 Buy Carlos Torres Vila Individual 01. Apr 19 01. Apr 19 179,593 €5.20 €933,884
04. Apr 19 Buy José Manuel Martínez-Murillo Individual 01. Apr 19 01. Apr 19 31,308 €5.20 €162,802
04. Apr 19 Buy Onur Genç Individual 29. Mar 19 29. Mar 19 41,267 €5.80 €239,349
22. Oct 18 Buy Francisco González Rodríguez Individual 17. Oct 18 17. Oct 18 19,653 €5.31 €104,357
09. May 18 Buy Francisco González Rodríguez Individual 07. May 18 07. May 18 56,950 €6.78 €386,121
X
Management checks
We assess Banco Bilbao Vizcaya Argentaria'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 Bilbao Vizcaya Argentaria 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.

BVA News

Simply Wall St News

BVA Company Info

Description

Banco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides retail and wholesale banking, asset management, and private banking services. The company accepts various deposits, such as current and savings accounts, term deposits, subordinated deposits, and other accounts. It also offers loan products; and foreclosed real-estate assets from residential mortgages and developers, as well as lending to developers. In addition, the company provides credit cards; and corporate and business banking, corporate and investment banking, and insurance. It operates in Spain, Mexico, South America, the United States, Turkey, Asia-Pacific, and rest of Europe. Banco Bilbao Vizcaya Argentaria, S.A. was founded in 1857 and is headquartered in Bilbao, Spain.

Details
Name: Banco Bilbao Vizcaya Argentaria, S.A.
BVA
Exchange: LSE
Founded: 1857
€36,254,563,796
6,620,628,889
Website: http://www.bbva.com
Address: Banco Bilbao Vizcaya Argentaria, S.A.
Plaza San Nicolás, 4,
Bilbao,
Basque Country, 48005,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME BBVA Registered Shares Bolsas y Mercados Espanoles ES EUR 19. Oct 1988
OTCPK BBVX.F Registered Shares Pink Sheets LLC US USD 19. Oct 1988
DB BOY Registered Shares Deutsche Boerse AG DE EUR 19. Oct 1988
XTRA BOY Registered Shares XETRA Trading Platform DE EUR 19. Oct 1988
LSE BVA Registered Shares London Stock Exchange GB EUR 19. Oct 1988
ENXTBR BBV Registered Shares Euronext Brussels BE EUR 19. Oct 1988
BIT BBVA Registered Shares Borsa Italiana IT EUR 19. Oct 1988
WBAG BBVA Registered Shares Wiener Boerse AG AT EUR 19. Oct 1988
BMV BBVA * Registered Shares Bolsa Mexicana de Valores MX MXN 19. Oct 1988
BATS-CHIXE BBVAE Registered Shares BATS 'Chi-X Europe' GB EUR 19. Oct 1988
NYSE BBVA ADS EACH REPR 1 ORD EUR0.49 New York Stock Exchange US USD 14. Dec 1988
BASE BBV CEDEAR EACH REPR 1 ADS Buenos Aires Stock Exchange AR ARS 08. Dec 2000
DB BBVA ADS EACH REPR 1 ORD EUR0.49 Deutsche Boerse AG DE EUR 14. Dec 1988
XTRA BBVA ADS EACH REPR 1 ORD EUR0.49 XETRA Trading Platform DE EUR 14. Dec 1988
BVL BBVA ADS EACH REPR 1 ORD EUR0.49 Bolsa de Valores de Lima PE USD 14. Dec 1988
Number of employees
Current staff
Staff numbers
125,627
Banco Bilbao Vizcaya Argentaria employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:50
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/03/15
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.