UniCredit Valuation
Is UCG undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
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 UCG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: UCG (PLN172.62) is trading below our estimate of fair value (PLN247.81)
Significantly Below Fair Value: UCG is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for UCG?
Other financial metrics that can be useful for relative valuation.
| What is UCG's n/a Ratio? | |
|---|---|
| n/a | 0x |
| n/a | n/a |
| Market Cap | €62.86b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | -1.3x |
Price to Earnings Ratio vs Peers
How does UCG's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 8.3x | ||
PKO Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna | 9.2x | 6.8% | zł72.2b |
SPL Santander Bank Polska | 9.7x | 6.2% | zł47.4b |
PEO Bank Polska Kasa Opieki | 6.3x | -5.3% | zł39.2b |
ING ING Bank Slaski | 7.9x | 1.6% | zł34.5b |
UCG UniCredit | 6.2x | -4.8% | zł62.9b |
Price-To-Earnings vs Peers: UCG is good value based on its Price-To-Earnings Ratio (6.2x) compared to the peer average (8.2x).
Price to Earnings Ratio vs Industry
How does UCG's PE Ratio compare vs other companies in the European Banks Industry?
Price-To-Earnings vs Industry: UCG is good value based on its Price-To-Earnings Ratio (6.2x) compared to the European Banks industry average (7.7x).
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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 6.2x |
| Fair PE Ratio | 9.7x |
Price-To-Earnings vs Fair Ratio: UCG is good value based on its Price-To-Earnings Ratio (6.2x) compared to the estimated Fair Price-To-Earnings Ratio (9.7x).
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 | zł172.62 | zł196.08 +13.6% | 9.6% | zł232.83 | zł150.91 | n/a | 18 |
| Oct ’25 | zł164.50 | zł195.75 +19.0% | 9.5% | zł231.62 | zł150.12 | n/a | 20 |
| Sep ’25 | zł159.34 | zł195.09 +22.4% | 9.8% | zł231.24 | zł141.31 | n/a | 21 |
| Aug ’25 | zł159.00 | zł192.38 +21.0% | 10.6% | zł231.86 | zł141.69 | n/a | 21 |
| Jul ’25 | zł149.38 | zł184.36 +23.4% | 10.0% | zł223.55 | zł141.87 | n/a | 21 |
| Jun ’25 | zł155.46 | zł181.63 +16.8% | 10.4% | zł222.47 | zł141.18 | n/a | 21 |
| May ’25 | zł149.66 | zł172.72 +15.4% | 10.7% | zł205.36 | zł138.70 | n/a | 21 |
| Apr ’25 | zł150.60 | zł160.14 +6.3% | 11.1% | zł202.49 | zł132.27 | n/a | 21 |
| Mar ’25 | zł135.10 | zł157.51 +16.6% | 10.7% | zł202.82 | zł132.48 | n/a | 22 |
| Feb ’25 | zł115.56 | zł143.53 +24.2% | 10.3% | zł174.32 | zł118.40 | n/a | 21 |
| Jan ’25 | zł106.50 | zł142.43 +33.7% | 10.8% | zł171.92 | zł116.77 | n/a | 21 |
| Dec ’24 | zł109.84 | zł144.14 +31.2% | 11.0% | zł176.37 | zł118.01 | n/a | 21 |
| Nov ’24 | zł104.00 | zł145.74 +40.1% | 11.0% | zł180.76 | zł120.95 | n/a | 20 |
| Oct ’24 | zł106.48 | zł139.05 +30.6% | 10.1% | zł170.46 | zł107.80 | zł164.50 | 20 |
| Sep ’24 | zł99.80 | zł133.62 +33.9% | 10.8% | zł165.25 | zł104.51 | zł159.34 | 22 |
| Aug ’24 | zł100.10 | zł125.93 +25.8% | 16.5% | zł164.54 | zł54.25 | zł159.00 | 23 |
| Jul ’24 | zł95.19 | zł114.64 +20.4% | 15.5% | zł146.48 | zł54.15 | zł149.38 | 23 |
| Jun ’24 | zł82.66 | zł114.22 +38.2% | 16.1% | zł142.87 | zł55.34 | zł155.46 | 23 |
| May ’24 | zł81.86 | zł103.60 +26.6% | 14.1% | zł121.46 | zł55.92 | zł149.66 | 23 |
| Apr ’24 | zł80.85 | zł102.67 +27.0% | 14.3% | zł126.37 | zł57.10 | zł150.60 | 23 |
| Mar ’24 | zł91.00 | zł104.48 +14.8% | 10.8% | zł126.14 | zł76.69 | zł135.10 | 22 |
| Feb ’24 | zł82.32 | zł97.71 +18.7% | 15.1% | zł118.75 | zł57.38 | zł115.56 | 22 |
| Jan ’24 | zł62.06 | zł78.00 +25.7% | 16.1% | zł107.30 | zł57.16 | zł106.50 | 23 |
| Dec ’23 | zł59.40 | zł77.47 +30.4% | 16.0% | zł107.15 | zł57.09 | zł109.84 | 23 |
| Nov ’23 | zł57.96 | zł74.53 +28.6% | 15.3% | zł104.15 | zł56.33 | zł104.00 | 23 |
| Oct ’23 | zł51.00 | zł70.76 +38.7% | 17.8% | zł106.09 | zł50.27 | zł106.48 | 23 |
Analyst Forecast: Target price is less than 20% higher than the current share price.