UniCredit S.p.A.

WSE:UCG Stock Report

Market Cap: zł514.0b

UniCredit Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 Fair Value

What is the Fair Price of UCG 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: UCG (PLN350) is trading below our estimate of future cash flow value (PLN442.09)

Significantly Below Future Cash Flow Value: UCG is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for UCG. This is calculated by dividing UCG's market cap by their current earnings.
What is UCG's PE Ratio?
PE Ratio10.6x
Earnings€0
Market Cap€118.69b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for UCG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.6x
PKO Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
12.5x8.92%zł134.0b
EBP Erste Bank Polska
11.9x9.64%zł67.2b
PEO Bank Polska Kasa Opieki
9.3x3.44%zł61.1b
ING ING Bank Slaski
12.8x5.72%zł56.7b
UCG UniCredit
10.6x5.77%zł118.7b

Price-To-Earnings vs Peers: UCG is good value based on its Price-To-Earnings Ratio (10.6x) compared to the peer average (11.6x).

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 UCG's PE Ratio compare vs other companies in the European Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
UCG 10.6xIndustry Avg. 11.9xNo. of Companies42PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: UCG is good value based on its Price-To-Earnings Ratio (10.6x) compared to the European Banks industry average (12x).

Price to Earnings Ratio vs Fair Ratio

What is UCG'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.

UCG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.6x
Fair PE Ratio12.7x

Price-To-Earnings vs Fair Ratio: UCG is good value based on its Price-To-Earnings Ratio (10.6x) compared to the estimated Fair Price-To-Earnings Ratio (12.7x).

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 UCG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł350.00
zł379.66
+8.47%
8.31%zł463.38zł333.46n/a17
Jul ’27zł334.85
zł366.97
+9.59%
8.46%zł429.15zł308.99n/a17
Jun ’27zł312.10
zł355.71
+13.97%
7.58%zł406.43zł304.82n/a17
May ’27zł277.80
zł349.32
+25.74%
8.52%zł391.58zł285.17n/a16
Apr ’27zł275.00
zł359.51
+30.73%
8.48%zł409.72zł308.90n/a16
Mar ’27zł305.65
zł352.22
+15.23%
11.32%zł402.53zł240.25n/a17
Feb ’27zł310.60
zł321.34
+3.46%
11.22%zł370.04zł239.68n/a18
Jan ’27zł300.70
zł301.41
+0.24%
10.10%zł355.84zł240.61n/a18
Dec ’26zł269.55
zł301.26
+11.76%
10.28%zł357.11zł241.46n/a17
Nov ’26zł272.20
zł298.81
+9.78%
10.08%zł357.58zł241.78n/a17
Oct ’26zł276.00
zł296.10
+7.28%
10.48%zł342.94zł242.83n/a16
Sep ’26zł284.20
zł288.15
+1.39%
8.82%zł328.32zł242.72n/a16
Aug ’26zł270.00
zł282.95
+4.80%
7.77%zł320.71zł243.74n/a15
Jul ’26zł239.35
zł251.52
+5.08%
15.56%zł310.01zł148.64zł334.8517
Jun ’26zł240.00
zł239.54
-0.19%
16.84%zł288.43zł148.45zł312.1017
May ’26zł223.10
zł226.09
+1.34%
15.84%zł298.63zł149.32zł277.8018
Apr ’26zł217.20
zł219.63
+1.12%
15.98%zł288.62zł146.40zł275.0018
Mar ’26zł210.60
zł202.96
-3.63%
10.28%zł236.10zł144.98zł305.6518
Feb ’26zł187.48
zł196.00
+4.54%
9.00%zł227.35zł147.36zł310.6018
Jan ’26zł164.50
zł199.33
+21.17%
9.87%zł242.96zł149.18zł300.7018
Dec ’25zł155.32
zł201.42
+29.68%
9.87%zł245.30zł150.62zł269.5518
Nov ’25zł177.34
zł198.10
+11.71%
9.66%zł235.11zł152.39zł272.2018
Oct ’25zł164.50
zł195.75
+19.00%
9.55%zł231.62zł150.12zł276.0020
Sep ’25zł159.34
zł195.09
+22.44%
9.84%zł231.24zł141.31zł284.2021
Aug ’25zł159.00
zł192.74
+21.22%
10.61%zł232.30zł141.96zł270.0021
Jul ’25zł149.38
zł185.29
+24.04%
9.95%zł224.67zł142.58zł239.3521
zł387.33
Fair Value
9.6% undervalued intrinsic discount
17
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/23 04:14
End of Day Share Price 2026/07/23 00:00
Earnings2026/06/30
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

UniCredit S.p.A. is covered by 38 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Irene RossettoBanca Akros S.p.A. (ESN)
Javier Esteban LarioBanco de Sabadell. S.A.
Juan Lopez CoboBanco Santander