Banco Bilbao Vizcaya Argentaria, S.A.

LSE:BVA Stock Report

Market Cap: €53.3b

Banco Bilbao Vizcaya Argentaria Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: BVA (€9.5) is trading below our estimate of fair value (€21.37)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BVA. This is calculated by dividing BVA's market cap by their current earnings.
What is BVA's PE Ratio?
PE Ratio5.7x
Earnings€9.34b
Market Cap€53.32b

Price to Earnings Ratio vs Peers

How does BVA's PE Ratio compare to its peers?

The above table shows the PE ratio for BVA 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
BVA Banco Bilbao Vizcaya Argentaria
5.7x-3.1%€53.3b

Price-To-Earnings vs Peers: BVA is good value based on its Price-To-Earnings Ratio (5.7x) compared to the peer average (7.7x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BVA 5.7xIndustry Avg. 7.4xNo. of Companies47PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BVA is good value based on its Price-To-Earnings Ratio (5.7x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is BVA'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.

BVA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.7x
Fair PE Ratio5.8x

Price-To-Earnings vs Fair Ratio: BVA is good value based on its Price-To-Earnings Ratio (5.7x) compared to the estimated Fair Price-To-Earnings Ratio (5.8x).

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 BVA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€9.50
€11.39
+19.9%
9.0%€13.00€9.20n/a17
Nov ’25€9.20
€11.46
+24.6%
9.5%€13.60€9.20n/a17
Oct ’25€9.10
€11.44
+25.8%
9.5%€13.60€9.20n/a18
Sep ’25€9.40
€11.37
+21.0%
9.6%€13.60€9.20n/a18
Aug ’25€9.21
€11.48
+24.7%
10.4%€13.60€9.20n/a18
Jul ’25€9.70
€11.43
+17.9%
10.5%€13.54€9.20n/a18
Jun ’25€9.72
€11.29
+16.1%
10.7%€13.54€9.20n/a19
May ’25€9.98
€11.26
+12.9%
11.1%€13.44€9.20n/a20
Apr ’25€11.10
€10.48
-5.5%
14.0%€13.41€8.30n/a22
Mar ’25€9.59
€9.95
+3.7%
12.9%€13.00€8.00n/a23
Feb ’25€8.73
€9.91
+13.4%
13.1%€13.00€8.00n/a23
Jan ’25€8.20
€9.75
+19.0%
12.8%€13.00€7.80n/a23
Dec ’24€8.58
€9.55
+11.4%
11.2%€11.80€7.80n/a24
Nov ’24€7.63
€9.36
+22.6%
11.6%€11.80€7.10€9.2024
Oct ’24€7.75
€8.93
+15.2%
9.9%€10.50€7.10€9.1024
Sep ’24€7.31
€8.81
+20.6%
9.8%€10.30€7.10€9.4025
Aug ’24€6.82
€8.66
+27.0%
9.5%€10.30€7.10€9.2125
Jul ’24€7.05
€8.48
+20.4%
9.3%€10.00€6.90€9.7024
Jun ’24€6.22
€8.31
+33.7%
12.5%€10.00€6.00€9.7223
May ’24€6.67
€8.12
+21.8%
11.9%€9.80€6.00€9.9822
Apr ’24€6.60
€7.86
+19.0%
11.9%€9.30€6.00€11.1022
Mar ’24€7.26
€7.71
+6.2%
11.2%€9.20€6.00€9.5921
Feb ’24€6.76
€7.22
+6.8%
12.8%€9.00€5.50€8.7321
Jan ’24€5.68
€6.97
+22.6%
10.6%€8.50€5.50€8.2022
Dec ’23€5.57
€6.89
+23.7%
11.4%€8.50€5.50€8.5822
Nov ’23€5.25
€6.77
+28.9%
10.9%€8.00€5.50€7.6321

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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