Erste Group Bank AG

BVB:EBS Stock Report

Market Cap: RON 207.3b

Erste Group Bank Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 Future Cash Flow Value

What is the Fair Price of EBS 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 Fair Value: EBS (RON535.5) is trading below our estimate of fair value (RON595.28)

Significantly Below Fair Value: EBS 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 EBS?

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

The above table shows the Price to Earnings ratio for EBS. This is calculated by dividing EBS's market cap by their current earnings.
What is EBS's PE Ratio?
PE Ratio13.4x
Earnings€3.05b
Market Cap€40.74b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for EBS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.6x
TLV Banca Transilvania
9.2x4.29%RON 36.5b
BRD BRD - Groupe Société Générale
12.5x3.74%RON 19.9b
NA National Bank of Canada
17.1x6.08%CA$66.2b
QNBK Qatar National Bank (Q.P.S.C.)
11.4x10.07%ر.ق181.1b
EBS Erste Group Bank
13.4x11.53%RON 40.7b

Price-To-Earnings vs Peers: EBS is expensive based on its Price-To-Earnings Ratio (13.4x) compared to the peer average (12.6x).

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EBS 13.4xIndustry Avg. 11.2xNo. of Companies38PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EBS is expensive based on its Price-To-Earnings Ratio (13.4x) compared to the European Banks industry average (11.2x).

Price to Earnings Ratio vs Fair Ratio

What is EBS'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.

EBS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.4x
Fair PE Ratio13.6x

Price-To-Earnings vs Fair Ratio: EBS is good value based on its Price-To-Earnings Ratio (13.4x) compared to the estimated Fair Price-To-Earnings Ratio (13.6x).

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 EBS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRON 535.50
RON 500.90
-6.46%
13.98%RON 671.67RON 384.68n/a15
Jan ’27RON 515.00
RON 482.64
-6.28%
11.27%RON 549.68RON 384.78n/a14
Dec ’26RON 477.40
RON 469.38
-1.68%
10.01%RON 549.48RON 384.63n/a14
Nov ’26RON 452.60
RON 450.95
-0.37%
6.76%RON 493.34RON 384.50n/a14
Oct ’26RON 431.40
RON 432.35
+0.22%
11.14%RON 493.20RON 329.53n/a15
Sep ’26RON 414.40
RON 409.81
-1.11%
11.59%RON 471.49RON 314.32n/a15
Aug ’26RON 401.80
RON 397.48
-1.08%
10.43%RON 441.64RON 314.73n/a15
Jul ’26RON 365.60
RON 388.31
+6.21%
10.42%RON 432.01RON 311.45n/a15
Jun ’26RON 358.40
RON 389.00
+8.54%
10.16%RON 435.35RON 313.86n/a16
May ’26RON 293.40
RON 346.34
+18.04%
12.66%RON 408.24RON 256.94n/a17
Apr ’26RON 321.20
RON 343.70
+7.00%
12.14%RON 403.26RON 256.94n/a17
Mar ’26RON 320.30
RON 319.99
-0.098%
10.57%RON 393.04RON 256.77n/a17
Feb ’26RON 297.60
RON 311.16
+4.56%
9.38%RON 357.99RON 256.61n/a16
Jan ’26RON 294.40
RON 299.99
+1.90%
8.66%RON 352.52RON 256.25RON 515.0015
Dec ’25RON 255.00
RON 293.77
+15.20%
7.37%RON 348.36RON 256.84RON 477.4015
Nov ’25RON 256.00
RON 283.71
+10.82%
6.82%RON 338.28RON 256.75RON 452.6015
Oct ’25RON 243.00
RON 276.98
+13.99%
8.63%RON 328.52RON 228.97RON 431.4015
Sep ’25RON 245.00
RON 276.98
+13.05%
8.63%RON 328.52RON 228.97RON 414.4015
Aug ’25RON 233.60
RON 259.94
+11.28%
9.73%RON 323.33RON 213.90RON 401.8015
Jul ’25RON 224.50
RON 254.65
+13.43%
9.34%RON 298.67RON 214.05RON 365.6015
Jun ’25RON 225.00
RON 251.69
+11.86%
9.27%RON 298.51RON 213.93RON 358.4014
May ’25RON 218.90
RON 245.83
+12.30%
9.99%RON 298.58RON 213.98RON 293.4014
Apr ’25RON 204.00
RON 235.56
+15.47%
11.47%RON 288.40RON 197.40RON 321.2014
Mar ’25RON 187.05
RON 239.04
+27.79%
12.65%RON 298.08RON 197.23RON 320.3015
Feb ’25RON 199.45
RON 235.12
+17.88%
11.92%RON 288.62RON 197.55RON 297.6015
Jan ’25RON 181.80
RON 233.38
+28.37%
11.83%RON 288.08RON 197.18RON 294.4015
RON 502.52
Fair Value
6.6% overvalued intrinsic discount
15
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 Analysis2026/01/16 22:38
End of Day Share Price 2026/01/16 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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

Erste Group Bank AG is covered by 34 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ivan BokhmatBarclays
Krishnendra DubeyBarclays
Eoin MullanyBerenberg