mBank S.A.

WSE:MBK Stock Report

Market Cap: zł54.4b

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 Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow 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.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MBK (PLN1280) is trading below our estimate of future cash flow value (PLN1579.66)

Significantly Below Future Cash Flow Value: MBK is trading below future cash flow value, but not by a significant amount.

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 Ratio14.4x
Earningszł3.79b
Market Capzł54.43b

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 Average13x
ING ING Bank Slaski
12.9x5.54%zł57.1b
PEO Bank Polska Kasa Opieki
9.7x2.09%zł63.5b
EBP Erste Bank Polska
11.1x8.58%zł62.7b
MIL Bank Millennium
18.2x24.99%zł24.1b
MBK mBank
14.4x10.06%zł54.4b

Price-To-Earnings vs Peers: MBK is expensive based on its Price-To-Earnings Ratio (14.4x) compared to the peer average (13x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

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 14.4xIndustry Avg. 11.4xNo. of Companies40PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MBK is expensive based on its Price-To-Earnings Ratio (14.4x) compared to the European Banks industry average (11.4x).

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 Ratio14.4x
Fair PE Ratio10.9x

Price-To-Earnings vs Fair Ratio: MBK is expensive based on its Price-To-Earnings Ratio (14.4x) compared to the estimated Fair Price-To-Earnings Ratio (10.9x).

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
Currentzł1,280.00
zł1,090.29
-14.82%
10.70%zł1,224.00zł892.00n/a8
May ’27zł1,141.50
zł1,047.16
-8.26%
12.51%zł1,224.00zł855.00n/a8
Apr ’27zł1,149.00
zł1,013.18
-11.82%
13.07%zł1,224.00zł841.40n/a8
Mar ’27zł1,033.50
zł1,008.24
-2.44%
12.90%zł1,224.00zł841.40n/a8
Feb ’27zł1,038.00
zł973.67
-6.20%
12.79%zł1,224.00zł841.34n/a8
Jan ’27zł1,061.50
zł973.67
-8.27%
12.79%zł1,224.00zł841.34n/a8
Dec ’26zł1,020.00
zł979.43
-3.98%
12.21%zł1,224.00zł855.00n/a7
Nov ’26zł981.20
zł869.83
-11.35%
15.13%zł1,051.00zł626.00n/a6
Oct ’26zł909.20
zł836.00
-8.05%
12.85%zł961.00zł626.00n/a6
Sep ’26zł874.00
zł828.17
-5.24%
12.00%zł922.00zł626.00n/a6
Aug ’26zł866.00
zł822.67
-5.00%
12.24%zł922.00zł626.00n/a6
Jul ’26zł793.40
zł779.33
-1.77%
12.18%zł914.00zł626.00n/a6
Jun ’26zł820.00
zł759.13
-7.42%
13.29%zł914.00zł626.00n/a7
May ’26zł823.00
zł756.27
-8.11%
12.78%zł894.00zł626.00zł1,141.507
Apr ’26zł832.20
zł756.27
-9.12%
12.78%zł894.00zł626.00zł1,149.007
Mar ’26zł740.20
zł721.84
-2.48%
8.36%zł785.00zł626.00zł1,033.507
Feb ’26zł629.80
zł691.48
+9.79%
10.29%zł784.00zł568.00zł1,038.006
Jan ’26zł547.20
zł687.98
+25.73%
10.40%zł784.00zł568.00zł1,061.506
Dec ’25zł530.00
zł694.98
+31.13%
11.25%zł784.00zł568.00zł1,020.006
Nov ’25zł561.80
zł706.32
+25.72%
8.04%zł784.00zł637.90zł981.206
Oct ’25zł605.60
zł706.32
+16.63%
8.04%zł784.00zł637.90zł909.206
Sep ’25zł640.00
zł692.15
+8.15%
6.50%zł784.00zł637.90zł874.006
Aug ’25zł606.60
zł689.98
+13.75%
6.64%zł784.00zł637.90zł866.006
Jul ’25zł625.60
zł663.20
+6.01%
14.18%zł784.00zł495.00zł793.405
Jun ’25zł626.00
zł678.40
+8.37%
15.36%zł784.00zł495.00zł820.005
May ’25zł685.80
zł690.78
+0.73%
11.93%zł783.90zł560.00zł823.005
zł1.09k
Fair Value
17.4% overvalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/31 09:10
End of Day Share Price 2026/05/29 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

mBank S.A. is covered by 20 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrzej PowierzaCitigroup Inc
Gabor KemenyConCorde Securities Ltd.
Kazim AndaçDeutsche Bank