Bank Handlowy w Warszawie Valuation
Is BHW undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
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 BHW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: BHW (PLN112) is trading below our estimate of fair value (PLN121.69)
Significantly Below Fair Value: BHW 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 BHW?
Other financial metrics that can be useful for relative valuation.
| What is BHW's n/a Ratio? | |
|---|---|
| n/a | 0x |
| n/a | n/a |
| Market Cap | zł14.63b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | -0.6x |
Price to Earnings Ratio vs Peers
How does BHW's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 11.8x | ||
ALR Alior Bank | 6x | -8.3% | zł13.6b |
BNP BNP Paribas Bank Polska | 14.7x | 15.6% | zł14.9b |
MIL Bank Millennium | 19.5x | 32.1% | zł11.3b |
PEO Bank Polska Kasa Opieki | 6.7x | -5.8% | zł44.4b |
BHW Bank Handlowy w Warszawie | 6.5x | -11.1% | zł14.6b |
Price-To-Earnings vs Peers: BHW is good value based on its Price-To-Earnings Ratio (6.5x) compared to the peer average (11.8x).
Price to Earnings Ratio vs Industry
How does BHW's PE Ratio compare vs other companies in the European Banks Industry?
Price-To-Earnings vs Industry: BHW is good value based on its Price-To-Earnings Ratio (6.5x) compared to the European Banks industry average (7.7x).
Price to Earnings Ratio vs Fair Ratio
What is BHW'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 6.5x |
| Fair PE Ratio | 7.3x |
Price-To-Earnings vs Fair Ratio: BHW is good value based on its Price-To-Earnings Ratio (6.5x) compared to the estimated Fair Price-To-Earnings Ratio (7.3x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | zł112.00 | zł117.25 +4.7% | 13.2% | zł140.50 | zł93.00 | n/a | 6 |
| Apr ’25 | zł108.60 | zł116.73 +7.5% | 13.5% | zł140.50 | zł93.00 | n/a | 6 |
| Mar ’25 | zł108.80 | zł113.42 +4.2% | 12.8% | zł140.50 | zł93.00 | n/a | 6 |
| Feb ’25 | zł103.80 | zł105.92 +2.0% | 16.3% | zł140.50 | zł87.00 | n/a | 6 |
| Jan ’25 | zł101.40 | zł105.92 +4.5% | 16.3% | zł140.50 | zł87.00 | n/a | 6 |
| Dec ’24 | zł98.10 | zł101.53 +3.5% | 9.4% | zł114.20 | zł87.00 | n/a | 6 |
| Nov ’24 | zł86.30 | zł94.33 +9.3% | 17.5% | zł114.20 | zł65.00 | n/a | 6 |
| Oct ’24 | zł79.80 | zł94.83 +18.8% | 16.5% | zł114.20 | zł68.00 | n/a | 6 |
| Sep ’24 | zł86.80 | zł93.50 +7.7% | 16.6% | zł114.20 | zł68.00 | n/a | 6 |
| Aug ’24 | zł87.90 | zł93.00 +5.8% | 17.6% | zł114.20 | zł65.00 | n/a | 6 |
| Jul ’24 | zł86.40 | zł88.84 +2.8% | 16.6% | zł111.40 | zł65.00 | n/a | 5 |
| Jun ’24 | zł83.50 | zł83.06 -0.5% | 19.3% | zł111.40 | zł65.00 | n/a | 5 |
| May ’24 | zł89.90 | zł86.26 -4.0% | 15.6% | zł111.40 | zł71.90 | zł112.00 | 5 |
| Apr ’24 | zł81.60 | zł82.15 +0.7% | 9.5% | zł96.40 | zł71.90 | zł108.60 | 6 |
| Mar ’24 | zł83.90 | zł80.96 -3.5% | 10.6% | zł96.40 | zł71.90 | zł108.80 | 6 |
| Feb ’24 | zł78.80 | zł80.96 +2.7% | 10.6% | zł96.40 | zł71.90 | zł103.80 | 6 |
| Jan ’24 | zł75.60 | zł77.33 +2.3% | 6.8% | zł87.00 | zł71.90 | zł101.40 | 6 |
| Dec ’23 | zł75.00 | zł73.49 -2.0% | 3.5% | zł76.60 | zł69.00 | zł98.10 | 6 |
| Nov ’23 | zł61.80 | zł73.84 +19.5% | 3.7% | zł76.60 | zł69.00 | zł86.30 | 5 |
| Oct ’23 | zł54.30 | zł75.06 +38.2% | 5.3% | zł82.18 | zł69.00 | zł79.80 | 6 |
| Sep ’23 | zł57.80 | zł71.88 +24.4% | 8.4% | zł82.18 | zł64.79 | zł86.80 | 6 |
| Aug ’23 | zł57.80 | zł75.23 +30.2% | 11.4% | zł89.10 | zł64.79 | zł87.90 | 6 |
| Jul ’23 | zł55.40 | zł76.78 +38.6% | 9.7% | zł89.10 | zł64.79 | zł86.40 | 6 |
| Jun ’23 | zł62.90 | zł70.06 +11.4% | 19.1% | zł89.10 | zł50.30 | zł83.50 | 6 |
| May ’23 | zł59.70 | zł70.06 +17.4% | 19.1% | zł89.10 | zł50.30 | zł89.90 | 6 |
Analyst Forecast: Target price is less than 20% higher than the current share price.