MISX:SBER

Stock Analysis Report

Sberbank of Russia

Executive Summary

Sberbank of Russia provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

Snowflake

Fundamentals

Good value with reasonable growth potential and pays a dividend.


Similar Companies

Share Price & News

How has Sberbank of Russia's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SBER has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.2%

SBER

0.3%

RU Banks

-0.4%

RU Market


1 Year Return

20.4%

SBER

19.6%

RU Banks

22.0%

RU Market

Return vs Industry: SBER underperformed the Russian Banks industry which returned 19.6% over the past year.

Return vs Market: SBER underperformed the Russian Market which returned 22% over the past year.


Shareholder returns

SBERIndustryMarket
7 Day0.2%0.3%-0.4%
30 Day1.2%1.1%5.1%
90 Day8.3%7.8%9.3%
1 Year28.7%20.4%27.4%19.6%30.8%22.0%
3 Year80.6%53.2%74.3%49.8%62.6%37.2%
5 Year287.5%222.0%269.1%210.3%152.9%98.5%

Price Volatility Vs. Market

How volatile is Sberbank of Russia's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Sberbank of Russia undervalued compared to its fair value and its price relative to the market?

2.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBER (RUB237.78) is trading below our estimate of fair value (RUB244.19)

Significantly Below Fair Value: SBER is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: SBER is good value based on its PE Ratio (5.9x) compared to the Banks industry average (7.4x).

PE vs Market: SBER is good value based on its PE Ratio (5.9x) compared to the Russian market (7.4x).


Price to Earnings Growth Ratio

PEG Ratio: SBER is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: SBER is overvalued based on its PB Ratio (1.2x) compared to the RU Banks industry average (0.8x).


Next Steps

Future Growth

How is Sberbank of Russia forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

12.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBER's forecast earnings growth (12.2% per year) is above the savings rate (8.4%).

Earnings vs Market: SBER's earnings (12.2% per year) are forecast to grow faster than the Russian market (4.2% per year).

High Growth Earnings: SBER's earnings are forecast to grow, but not significantly.

Revenue vs Market: SBER's revenue (8.9% per year) is forecast to grow faster than the Russian market (4.2% per year).

High Growth Revenue: SBER's revenue (8.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SBER's Return on Equity is forecast to be high in 3 years time (21.1%)


Next Steps

Past Performance

How has Sberbank of Russia performed over the past 5 years?

27.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBER has a high level of non-cash earnings.

Growing Profit Margin: SBER's current net profit margins (45.5%) are lower than last year (46%).


Past Earnings Growth Analysis

Earnings Trend: SBER's earnings have grown significantly by 27.6% per year over the past 5 years.

Accelerating Growth: SBER's earnings growth over the past year (8.1%) is below its 5-year average (27.6% per year).

Earnings vs Industry: SBER earnings growth over the past year (8.1%) exceeded the Banks industry 0.8%.


Return on Equity

High ROE: SBER's Return on Equity (20.8%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Sberbank of Russia's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: SBER has a low level of unsold assets or inventory.

Debt Coverage by Assets: SBER's debt is covered by short term assets (assets are 3.3x debt).


Financial Institutions Analysis

Asset Level: SBER's level of assets compared to its equity is low.

Allowance for Bad Loans: SBER has a low allowance for bad loans.

Low Risk Liabilities: SBER's liabilities are made up of primarily low risk sources of funding.

Loan Level: SBER has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SBER's loans are broadly funded by customer deposits.

Level of Bad Loans: SBER has a high level of bad loans (7.84%)


Next Steps

Dividend

What is Sberbank of Russia's current dividend yield, its reliability and sustainability?

6.73%

Current Dividend Yield


Dividend Yield vs Market

company6.7%marketbottom25%3.5%markettop25%8.5%industryaverage6.5%forecastin3Years9.5%

Current dividend yield vs market & industry

Notable Dividend: SBER's dividend (6.73%) is higher than the bottom 25% of dividend payers in the Russian market (3.48%).

High Dividend: SBER's dividend (6.73%) is low compared to the top 25% of dividend payers in the Russian market (8.49%).


Stability and Growth of Payments

Stable Dividend: SBER's dividend payments have been volatile in the past 10 years.

Growing Dividend: SBER's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (39.6%), SBER's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBER's dividends in 3 years are forecast to be covered by earnings (53.4% payout ratio).


Next Steps

Management

What is the CEO of Sberbank of Russia's salary, the management and board of directors tenure and is there insider trading?

6.6yrs

Average management tenure


CEO

Herman Gref (55yo)

12yrs

Tenure

0

Mr. Herman Oskarovich Gref has been the Chief Executive Officer and Chairman of the Executive Board of PAO Sberbank of Russia since 2007 and has been its Member of Supervisory Board since June 2005. Mr. Gr ...


Management Age and Tenure

6.6yrs

Average Tenure

50yo

Average Age

Experienced Management: SBER's management team is seasoned and experienced (6.6 years average tenure).


Board Age and Tenure

3.0yrs

Average Tenure

65.5yo

Average Age

Experienced Board: SBER's board of directors are considered experienced (3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Herman Gref (55yo)

    Chairman of the Executive Board

    • Tenure: 12yrs
  • Bella Zlatkis (71yo)

    Deputy Chairman of Executive Board & Supervisory Board Member

    • Tenure: 1.4yrs
  • Khasis Aronovich (53yo)

    First Deputy Chairman of the Executive Board & COO

    • Tenure: 6.3yrs
  • Alexander Vladimirovich Morozov (50yo)

    Deputy Chairman of the Executive Board & CFO

    • Tenure: 6.8yrs
  • Stanislav Kuznetsov (57yo)

    Deputy Chairman of the Executive Board

    • Tenure: 9.1yrs
  • Alexander Vedyakhin (42yo)

    First Deputy Chairman of Executive Board

    • Tenure: 1.4yrs
  • Anatoly Popov (45yo)

    Deputy Chairman of Executive Board

    • Tenure: 1.4yrs
  • Alexey Minenko

    Senior MD & Deputy Chief Accountant

    • Tenure: 0yrs
  • Oleg Ganeev (47yo)

    Deputy Chairman of the Executive Board

    • Tenure: 0yrs
  • Svetlana Kirsanova (36yo)

    Deputy Chairwoman of the Executive Board & Head of the Retail Unit

    • Tenure: 0.9yrs

Board Members

  • Herman Gref (55yo)

    Chairman of the Executive Board

    • Tenure: 12yrs
  • Bella Zlatkis (71yo)

    Deputy Chairman of Executive Board & Supervisory Board Member

    • Tenure: 1.4yrs
  • Nadezhda Ivanova (66yo)

    Supervisory Board Member

    • Tenure: 17.4yrs
  • Sergei Ignatiev (71yo)

    Chairman of Supervisory Board

    • Tenure: 17.4yrs
  • Gennady Melikyan (72yo)

    Deputy Chairman of Supervisory Board & Senior Independent Supervisory Board Member

    • Tenure: 0.5yrs
  • Sergey Shvetsov (49yo)

    Deputy Chairman of the Supervisory Board

    • Tenure: 1.4yrs
  • Leonid Boguslavsky (68yo)

    Supervisory Board Member

    • Tenure: 2.5yrs
  • Valery Goreglyad (61yo)

    Supervisory Board Member

    • Tenure: 1.4yrs
  • Esko Aho (65yo)

    Supervisory Board Member

    • Tenure: 3.5yrs
  • Nadya Wells (49yo)

    Supervisory Board Member

    • Tenure: 5.4yrs

Company Information

Sberbank of Russia's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sberbank of Russia
  • Ticker: SBER
  • Exchange: MISX
  • Founded: 1841
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₽5.112t
  • Shares outstanding: 21.50b
  • Website: https://www.sberbank.ru

Number of Employees


Location

  • Sberbank of Russia
  • 19 Vavilova Street
  • Moscow
  • Moskovskaya obl.
  • 117997
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AKSJ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1997
SBERMISX (Micex - Rts)YesOrdinary SharesRURUBJan 1997
RU_SBERKAS (Kazakhstan Stock Exchange)YesOrdinary SharesKZKZTJan 1997
SBERPMISX (Micex - Rts)RUB3 PRF(RUB)RURUBJan 1997
SBRC.YOTCPK (Pink Sheets LLC)ADR EACH REPR 4 ORD SHS(SPONS)USUSDApr 2004
SBNCDB (Deutsche Boerse AG)ADR EACH REPR 4 ORD SHS(SPONS)DEEURApr 2004
SBNCXTRA (XETRA Trading Platform)ADR EACH REPR 4 ORD SHS(SPONS)DEEURApr 2004
SBERLSE (London Stock Exchange)ADR EACH REPR 4 ORD SHS(SPONS)GBUSDApr 2004
SBERLBATS-CHIXE (BATS 'Chi-X Europe')ADR EACH REPR 4 ORD SHS(SPONS)GBUSDApr 2004
SBERWBAG (Wiener Boerse AG)ADR EACH REPR 4 ORD SHS(SPONS)ATEURApr 2004

Biography

Sberbank of Russia provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions. The company accepts fixed-term, settlement, a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/20 20:38
End of Day Share Price2019/11/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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 here.