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SBER

Sberbank of Russia MISX:SBER Stock Report

Last Price

₽133.30

Market Cap

₽3.0t

7D

0%

1Y

-59.0%

Updated

24 Sep, 2022

Data

Company Financials +
SBER fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance5/6
Financial Health5/6
Dividends5/6

SBER Stock Overview

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

Sberbank of Russia Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Sberbank of Russia
Historical stock prices
Current Share Price₽133.30
52 Week High₽388.11
52 Week Low₽89.59
Beta1.05
1 Month Change0%
3 Month Change-3.24%
1 Year Change-58.99%
3 Year Change-41.55%
5 Year Change-30.69%
Change since IPO54.10%

Recent News & Updates

Shareholder Returns

SBERRU BanksRU Market
7D0%0%0%
1Y-59.0%-56.3%-35.7%

Return vs Industry: SBER underperformed the Russian Banks industry which returned -56.3% over the past year.

Return vs Market: SBER underperformed the Russian Market which returned -35.7% over the past year.

Price Volatility

Is SBER's price volatile compared to industry and market?
SBER volatility
SBER Average Weekly Movementn/a
Banks Industry Average Movement3.8%
Market Average Movement5.2%
10% most volatile stocks in RU Market9.9%
10% least volatile stocks in RU Market2.7%

Stable Share Price: Insufficient data to determine SBER's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine SBER's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
1841287,866Herman Grefhttps://www.sberbank.ru

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions. The company offers deposit products; pension accounts; payment, transfer, brokerage, and asset management services; car, housing, education, and consumer loans; mortgages; debit and credit cards, and overdraft service; and refinancing products. It also provides derivative, financial instrument, foreign currency, precious metal, corporate structured, and commodities and securities products, as well as debt and capital markets funding, documentary, and other commission services.

Sberbank of Russia Fundamentals Summary

How do Sberbank of Russia's earnings and revenue compare to its market cap?
SBER fundamental statistics
Market Cap₽2.99t
Earnings (TTM)₽1.16t
Revenue (TTM)₽2.43t

2.6x

P/E Ratio

0.5x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SBER income statement (TTM)
Revenue₽2.43t
Cost of Revenue₽47.50b
Gross Profit₽2.38t
Other Expenses₽1.23t
Earnings₽1.16t

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)51.56
Gross Margin98.05%
Net Profit Margin47.64%
Debt/Equity Ratio90.3%

How did SBER perform over the long term?

See historical performance and comparison

Dividends

14.0%

Current Dividend Yield

35%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

SBER key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.3x

Price to Earnings Ratio vs Peers

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

SBER PE Ratio vs Peers
The above table shows the PE ratio for SBER vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.9x
VTBR VTB Bank
0.8x-2.1%₽244.0b
CBOM Credit Bank of Moscow
6.3x26.9%₽164.3b
ROSB ROSBANK
9.8xn/a₽172.5b
AVAN AVANGARD BANK
14.9xn/a₽69.0b
SBER Sberbank of Russia
2.6x8.2%₽3.0t

Price-To-Earnings vs Peers: SBER is good value based on its Price-To-Earnings Ratio (2.6x) compared to the peer average (7.9x).


Price to Earnings Ratio vs Industry

How does SBER's PE Ratio compare vs other companies in the European Banks Industry?

Price-To-Earnings vs Industry: SBER is good value based on its Price-To-Earnings Ratio (2.6x) compared to the European Banks industry average (8.7x)


Price to Earnings Ratio vs Fair Ratio

What is SBER'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.

SBER PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.6x
Fair PE Ratio4.3x

Price-To-Earnings vs Fair Ratio: SBER is good value based on its Price-To-Earnings Ratio (2.6x) compared to the estimated Fair Price-To-Earnings Ratio (4.3x).


Share Price vs Fair Value

What is the Fair Price of SBER when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SBER (RUB133.3) is trading below our estimate of fair value (RUB329.7)

Significantly Below Fair Value: SBER is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

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

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


8.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBER's forecast earnings growth (8.2% per year) is above the savings rate (7.5%).

Earnings vs Market: SBER's earnings (8.2% per year) are forecast to grow slower than the Russian market (9% per year).

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

Revenue vs Market: SBER's revenue (12.5% per year) is forecast to grow faster than the Russian market (3.1% per year).

High Growth Revenue: SBER's revenue (12.5% 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 low in 3 years time (19.9%).


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Past Performance

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

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.1%

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 (47.6%) are higher than last year (41.9%).


Past Earnings Growth Analysis

Earnings Trend: SBER's earnings have grown by 10.1% per year over the past 5 years.

Accelerating Growth: SBER's earnings growth over the past year (52.4%) exceeds its 5-year average (10.1% per year).

Earnings vs Industry: SBER earnings growth over the past year (52.4%) exceeded the Banks industry 14.6%.


Return on Equity

High ROE: SBER's Return on Equity (20.9%) is considered high.


Discover strong past performing companies

Financial Health

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

Financial Health Score

5/6

Financial Health Score 5/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: SBER's Assets to Equity ratio (7.3x) is low.

Allowance for Bad Loans: SBER has a sufficient allowance for bad loans (176%).

Low Risk Liabilities: 78% of SBER's liabilities are made up of primarily low risk sources of funding.

Loan Level: SBER has an appropriate level of Loans to Assets ratio (66%).

Low Risk Deposits: SBER's Loans to Deposits ratio (99%) is appropriate.

Level of Bad Loans: SBER has a high level of bad loans (2.8%).


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Dividend

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

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


14.03%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SBER's dividend (14.03%) is higher than the bottom 25% of dividend payers in the Russian market (4.43%).

High Dividend: SBER's dividend (14.03%) is in the top 25% of dividend payers in the Russian market (13.15%)


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

Earnings Coverage: With its reasonably low payout ratio (34.7%), 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 well covered by earnings (48% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Herman Gref (58 yo)

14.83yrs

Tenure

Mr. Herman Oskarovich Gref has been the Chairman of the Executive Board of Sberbank of Russia since November 2007 and has been its Member of Supervisory Board since June 24, 2005. He has been Chief Executi...


Leadership Team

Experienced Management: SBER's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: SBER's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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.


Top Shareholders

Top 25 shareholders own 58.78% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
50.29%
Ministry of Finance of the Russian Federation
11,294,291,194RUB1.5t0%no data
1.8%
The Vanguard Group, Inc.
403,138,560RUB53.7b6.52%0.02%
1.72%
Capital Research and Management Company
386,277,607RUB51.5b0%0.06%
1.19%
BlackRock, Inc.
267,608,972RUB35.7b-18.87%0.01%
0.78%
Norges Bank Investment Management
175,497,516RUB23.4b0%0.05%
0.39%
J.P. Morgan Asset Management, Inc.
86,724,383RUB11.6b-1.83%0.03%
0.27%
Baillie Gifford & Co.
61,129,547RUB8.1b0%0.01%
0.24%
Nordea Investment Management AB
53,349,526RUB7.1b-7.22%0.1%
0.23%
Van Eck Associates Corporation
51,945,732RUB6.9b0%0.23%
0.2%
Artisan Partners Limited Partnership
45,153,251RUB6.0b0%0.1%
0.2%
Sberbank Asset Management Joint-Stock Company
44,181,360RUB5.9b3.43%5.17%
0.13%
Grantham Mayo Van Otterloo & Co. LLC
29,806,862RUB4.0b-6.77%0.04%
0.13%
VTB Capital Asset Management
28,236,640RUB3.8b27.3%8.58%
0.11%
UBS Asset Management
25,817,620RUB3.4b-0.97%0.01%
0.11%
Caisse de dépôt et placement du Québec
25,459,446RUB3.4b0%0.07%
0.11%
Northern Trust Global Investments
25,121,557RUB3.3b0%0.01%
0.11%
Lazard Asset Management LLC
24,636,242RUB3.3b-0.95%0.05%
0.1%
Handelsbanken Asset Management
22,971,895RUB3.1b0%0.11%
0.099%
Macquarie Investment Management Business Trust
22,338,645RUB3.0b-0.24%0.04%
0.096%
Franklin Resources, Inc.
21,475,023RUB2.9b0%0.02%
0.094%
Invesco Ltd.
21,094,044RUB2.8b-82.11%0.01%
0.094%
State Street Global Advisors, Inc.
21,082,721RUB2.8b0%no data
0.094%
Pictet Asset Management Limited
21,016,102RUB2.8b-1.89%0.04%
0.093%
Kopernik Global Investors, LLC
20,941,259RUB2.8b27.63%1.65%
0.093%
Harding Loevner LP
20,889,507RUB2.8b-65.32%0.13%

Company Information

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


Key Information

  • Name: Sberbank of Russia
  • Ticker: SBER
  • Exchange: MISX
  • Founded: 1841
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: ₽2.993t
  • Shares outstanding: 22.46b
  • Website: https://www.sberbank.ru

Number of Employees


Location

  • Sberbank of Russia
  • 19 Vavilova Street
  • Moscow
  • 117312
  • Russia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AKSJ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1997
SBERMISX (Micex - Rts)YesOrdinary SharesRURUBJan 1997
SBERPMISX (Micex - Rts)RUB3 PREF(USD)RURUBJan 1997

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/07/08 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.