Public Bank Berhad

KLSE:PBBANK Stock Report

Market Cap: RM 84.2b

Public Bank Berhad Valuation

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

Discounted Cash Flow
Simply Wall St
RM 4.63
Fair Value
6.3% undervalued intrinsic discount
17
Number of Analysts

Below Fair Value: PBBANK (MYR4.34) is trading below our estimate of fair value (MYR4.63)

Significantly Below Fair Value: PBBANK is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PBBANK. This is calculated by dividing PBBANK's market cap by their current earnings.
What is PBBANK's PE Ratio?
PE Ratio12.1x
EarningsRM 6.96b
Market CapRM 84.24b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PBBANK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.8x
CIMB CIMB Group Holdings Berhad
11.2x5.9%RM 85.5b
MAYBANK Malayan Banking Berhad
12.6x4.7%RM 125.0b
HLBANK Hong Leong Bank Berhad
9.7x7.4%RM 41.4b
RHBBANK RHB Bank Berhad
9.7x6.7%RM 27.8b
PBBANK Public Bank Berhad
12.1x4.8%RM 84.2b

Price-To-Earnings vs Peers: PBBANK is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (10.8x).

Price to Earnings Ratio vs Industry

How does PBBANK's PE Ratio compare vs other companies in the Asian Banks Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
PBBANK 12.1xIndustry Avg. 9.1xNo. of Companies81PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PBBANK is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the Asian Banks industry average (9.1x).

Price to Earnings Ratio vs Fair Ratio

What is PBBANK'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.

PBBANK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ratio11.2x

Price-To-Earnings vs Fair Ratio: PBBANK is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the estimated Fair Price-To-Earnings Ratio (11.2x).

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 PBBANK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 4.34
RM 5.14
+18.4%
5.5%RM 5.57RM 4.40n/a17
Jan ’26RM 4.56
RM 5.16
+13.1%
5.6%RM 5.57RM 4.40n/a18
Dec ’25RM 4.47
RM 5.13
+14.8%
6.1%RM 5.57RM 4.40n/a18
Nov ’25RM 4.46
RM 5.13
+15.0%
5.9%RM 5.50RM 4.40n/a18
Oct ’25RM 4.61
RM 5.17
+12.2%
5.1%RM 5.50RM 4.40n/a18
Sep ’25RM 4.82
RM 5.07
+5.1%
6.1%RM 5.40RM 4.40n/a18
Aug ’25RM 4.26
RM 4.76
+11.8%
5.8%RM 5.30RM 4.20n/a18
Jul ’25RM 4.03
RM 4.73
+17.4%
7.1%RM 5.30RM 3.90n/a18
Jun ’25RM 4.10
RM 4.74
+15.6%
7.1%RM 5.30RM 3.90n/a18
May ’25RM 4.12
RM 4.78
+16.0%
7.7%RM 5.25RM 3.90n/a17
Apr ’25RM 4.24
RM 4.75
+12.1%
8.0%RM 5.25RM 3.80n/a17
Mar ’25RM 4.36
RM 4.80
+10.1%
7.9%RM 5.25RM 3.80n/a17
Feb ’25RM 4.39
RM 4.75
+8.2%
7.8%RM 5.25RM 3.80n/a17
Jan ’25RM 4.29
RM 4.74
+10.4%
8.3%RM 5.25RM 3.80RM 4.5617
Dec ’24RM 4.32
RM 4.71
+9.0%
8.8%RM 5.25RM 3.60RM 4.4717
Nov ’24RM 4.15
RM 4.68
+12.7%
8.7%RM 5.10RM 3.60RM 4.4618
Oct ’24RM 4.06
RM 4.67
+15.0%
9.0%RM 5.10RM 3.50RM 4.6118
Sep ’24RM 4.24
RM 4.64
+9.3%
9.0%RM 5.10RM 3.50RM 4.8219
Aug ’24RM 4.12
RM 4.54
+10.2%
9.2%RM 5.10RM 3.50RM 4.2619
Jul ’24RM 3.85
RM 4.54
+18.0%
9.2%RM 5.10RM 3.50RM 4.0319
Jun ’24RM 3.83
RM 4.57
+19.3%
9.3%RM 5.10RM 3.50RM 4.1019
May ’24RM 3.89
RM 4.71
+21.2%
8.5%RM 5.20RM 3.50RM 4.1220
Apr ’24RM 4.00
RM 4.73
+18.2%
7.6%RM 5.20RM 3.80RM 4.2420
Mar ’24RM 4.14
RM 4.77
+15.1%
7.7%RM 5.20RM 3.80RM 4.3620
Feb ’24RM 4.24
RM 4.82
+13.6%
7.2%RM 5.39RM 4.11RM 4.3920
Jan ’24RM 4.32
RM 4.80
+11.2%
7.5%RM 5.39RM 4.00RM 4.2920
Analyst Price Target
Consensus Narrative from 17 Analysts
RM 5.14
Fair Value
15.5% undervalued intrinsic discount
17
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/23 03:15
End of Day Share Price 2025/01/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 here.

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 .

Analyst Sources

Public Bank Berhad is covered by 32 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ei TanAffin Hwang Investment Bank
Poh OngAmInvestment Bank Berhad
Wee Siang NgBNP Paribas Securities (Asia)