mBank S.A.

WSE:MBK Stock Report

Market Cap: zł23.2b

mBank Valuation

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

Below Fair Value: Insufficient data to calculate MBK's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MBK's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MBK. This is calculated by dividing MBK's market cap by their current earnings.
What is MBK's PE Ratio?
PE Ratio18.7x
Earningszł1.24b
Market Capzł23.18b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.5x
PEO Bank Polska Kasa Opieki
5.8x-5.8%zł36.5b
ING ING Bank Slaski
7.3x1.0%zł31.8b
SPL Santander Bank Polska
8.5x4.1%zł45.0b
BNP BNP Paribas Bank Polska
8.5x18.8%zł12.4b
MBK mBank
18.7x29.2%zł23.2b

Price-To-Earnings vs Peers: MBK is expensive based on its Price-To-Earnings Ratio (18.7x) compared to the peer average (7.5x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MBK 18.7xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MBK is expensive based on its Price-To-Earnings Ratio (18.7x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is MBK'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.

MBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.7x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: MBK is expensive based on its Price-To-Earnings Ratio (18.7x) compared to the estimated Fair Price-To-Earnings Ratio (13.4x).

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 MBK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł545.40
zł706.32
+29.5%
8.0%zł784.00zł637.90n/a6
Nov ’25zł561.80
zł706.32
+25.7%
8.0%zł784.00zł637.90n/a6
Oct ’25zł605.60
zł706.32
+16.6%
8.0%zł784.00zł637.90n/a6
Sep ’25zł640.00
zł692.15
+8.1%
6.5%zł784.00zł637.90n/a6
Aug ’25zł606.60
zł689.98
+13.7%
6.6%zł784.00zł637.90n/a6
Jul ’25zł625.60
zł663.20
+6.0%
14.2%zł784.00zł495.00n/a5
Jun ’25zł626.00
zł678.40
+8.4%
15.4%zł784.00zł495.00n/a5
May ’25zł685.80
zł690.78
+0.7%
11.9%zł783.90zł560.00n/a5
Apr ’25zł740.20
zł677.78
-8.4%
15.4%zł783.90zł495.00n/a5
Mar ’25zł687.00
zł571.83
-16.8%
13.6%zł671.00zł462.00n/a6
Feb ’25zł543.00
zł533.54
-1.7%
17.5%zł664.00zł377.00n/a7
Jan ’25zł535.00
zł533.54
-0.3%
17.5%zł664.00zł377.00n/a7
Dec ’24zł573.80
zł524.40
-8.6%
17.5%zł664.00zł377.00n/a7
Nov ’24zł519.80
zł471.83
-9.2%
18.8%zł637.80zł360.00zł561.807
Oct ’24zł395.30
zł466.26
+18.0%
18.7%zł637.80zł360.00zł605.607
Sep ’24zł428.00
zł439.97
+2.8%
19.6%zł637.80zł360.00zł640.007
Aug ’24zł470.60
zł442.54
-6.0%
19.3%zł637.80zł360.00zł606.607
Jul ’24zł406.10
zł404.17
-0.5%
8.5%zł462.00zł360.00zł625.606
Jun ’24zł356.80
zł385.83
+8.1%
13.4%zł462.00zł300.00zł626.006
May ’24zł347.50
zł383.50
+10.4%
13.0%zł462.00zł300.00zł685.806
Apr ’24zł306.40
zł343.50
+12.1%
17.1%zł428.00zł245.00zł740.206
Mar ’24zł323.80
zł343.33
+6.0%
17.1%zł428.00zł245.00zł687.006
Feb ’24zł314.80
zł343.33
+9.1%
17.1%zł428.00zł245.00zł543.006
Jan ’24zł296.00
zł334.67
+13.1%
16.7%zł428.00zł245.00zł535.006
Dec ’23zł319.00
zł322.67
+1.1%
17.7%zł417.00zł245.00zł573.806
Nov ’23zł267.60
zł310.40
+16.0%
16.7%zł393.00zł245.00zł519.805

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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