Agram banka d.d.

ZGSE:KBZ Stock Report

Market Cap: €69.8m

Agram banka d.d Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: KBZ (€36) is trading above our estimate of fair value (€32.72)

Significantly Below Fair Value: KBZ is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KBZ. This is calculated by dividing KBZ's market cap by their current earnings.
What is KBZ's PE Ratio?
PE Ratio8x
Earnings€8.67m
Market Cap€69.76m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KBZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.8x
IKBA Istarska kreditna banka Umag d.d
5.5xn/a€69.6m
HPB Hrvatska postanska banka d.d
7.8xn/a€587.1m
PDBA Podravska banka d.d
8.6xn/a€59.9m
ZABA Zagrebacka banka d.d
13.5xn/a€7.5b
KBZ Agram banka d.d
8xn/a€69.8m

Price-To-Earnings vs Peers: KBZ is good value based on its Price-To-Earnings Ratio (8x) compared to the peer average (8.8x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KBZ 8.0xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KBZ is expensive based on its Price-To-Earnings Ratio (8x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is KBZ'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.

KBZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KBZ's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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