MISX:SBER

Stock Analysis Report

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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. More Details


Snowflake Analysis

Adequate balance sheet average dividend payer.


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 is more volatile than 75% of Russian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SBER's weekly volatility (5%) has been stable over the past year, but is still higher than 75% of Russian stocks.


Market Performance


7 Day Return

-3.7%

SBER

-3.4%

RU Banks

-0.5%

RU Market


1 Year Return

0.3%

SBER

1.2%

RU Banks

-5.0%

RU Market

Return vs Industry: SBER matched the Russian Banks industry which returned 0.8% over the past year.

Return vs Market: SBER exceeded the Russian Market which returned -6% over the past year.


Shareholder returns

SBERIndustryMarket
7 Day-3.7%-3.4%-0.5%
30 Day11.5%11.0%9.0%
90 Day5.1%4.8%-0.5%
1 Year9.3%0.3%9.6%1.2%1.6%-5.0%
3 Year29.8%5.3%30.7%7.2%46.8%21.7%
5 Year202.3%132.0%182.4%123.3%110.2%60.5%

Long-Term 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?

6.88x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SBER (RUB238.73) is trading above our estimate of fair value (RUB171.42)

Significantly Below Fair Value: SBER is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SBER is good value based on its PE Ratio (6.9x) compared to the RU Banks industry average (9.8x).

PE vs Market: SBER is good value based on its PE Ratio (6.9x) compared to the Russian market (10.6x).


Price to Earnings Growth Ratio

PEG Ratio: SBER is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: SBER is overvalued based on its PB Ratio (1.1x) compared to the RU Banks industry average (0.7x).


Next Steps

Future Growth

How is Sberbank of Russia forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

12.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBER's forecast earnings growth (12.3% per year) is above the savings rate (8.3%).

Earnings vs Market: SBER's earnings (12.3% per year) are forecast to grow slower than the Russian market (24.4% per year).

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

Revenue vs Market: SBER's revenue (6.3% per year) is forecast to grow slower than the Russian market (8.4% per year).

High Growth Revenue: SBER's revenue (6.3% 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 (17%).


Next Steps

Past Performance

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

18.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBER has high quality earnings.

Growing Profit Margin: SBER's current net profit margins (41.4%) are lower than last year (46.8%).


Past Earnings Growth Analysis

Earnings Trend: SBER's earnings have grown by 18.6% per year over the past 5 years.

Accelerating Growth: SBER's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SBER had negative earnings growth (-13.8%) over the past year, making it difficult to compare to the Banks industry average (-10%).


Return on Equity

High ROE: SBER's Return on Equity (15.8%) is considered low.


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


Financial Institutions Analysis

Asset Level: SBER's Assets to Equity ratio (6.7x) is low.

Allowance for Bad Loans: SBER has a low allowance for bad loans (97%).

Low Risk Liabilities: 82% 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 (95%) is appropriate.

Level of Bad Loans: SBER has a high level of bad loans (7.5%).


Next Steps

Dividend

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

7.83%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SBER's dividend (7.83%) is higher than the bottom 25% of dividend payers in the Russian market (3.97%).

High Dividend: SBER's dividend (7.83%) is low compared to the top 25% of dividend payers in the Russian market (8.17%).


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 reasonable payout ratio (53.9%), SBER's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBER's dividends in 3 years are forecast to be covered by earnings (50.5% payout ratio).


Next Steps

Management

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

2.4yrs

Average management tenure


CEO

Herman Gref (56 yo)

13yrs

Tenure

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


Leadership Team

NamePositionTenureCompensationOwnership
Herman Gref
Chairman of the Executive Board13yrsno data0.0044%
RUB 226.9m
Bella Zlatkis
Deputy Chairman of Executive Board & Supervisory Board Member2.42yrsno data0.00050%
RUB 25.7m
Stanislav Kuznetsov
Deputy Chairman of the Executive Board10.08yrsno data0.0013%
RUB 67.7m
Anatoly Popov
Deputy Chairman of Executive Board2.42yrsno data0.00055%
RUB 28.2m
Sergey Maltsev
Deputy Chairman of the Executive Board & Head of Sales Network Unit0.083yrno datano data
Alexander Vedyakhin
First Deputy Chairman of Executive Board2.42yrsno data0.000030%
RUB 1.5m
Khasis Aronovich
First Deputy Chairman of the Executive Board & COO7.33yrsno datano data
Olga Yuryevna
Deputy Chair of Executive Board0.75yrno datano data
Kirill Tsarev
Deputy Chairman of the Executive Board & Head of the Retail Business Unit0.083yrno datano data
Alexandra Buriko
Member of the Executive Board0.33yrno datano data
Natalya Alymova
Senior VP0.083yrno datano data
Alexey Minenko
Senior MD & Deputy Chief Accountantno datano datano data

2.4yrs

Average Tenure

54yo

Average Age

Experienced Management: SBER's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Herman Gref
Chairman of the Executive Board13yrsno data0.0044%
RUB 226.9m
Bella Zlatkis
Deputy Chairman of Executive Board & Supervisory Board Member2.42yrsno data0.00050%
RUB 25.7m
Sergei Ignatiev
Deputy Chairmen of the Supervisory Board.0.17yrno datano data
Gennady Melikyan
Independent Deputy Chairman of Supervisory Board & Senior Independent Director1.5yrsno data0.00018%
RUB 9.2m
Mikhail Kovalchuk
Independent Director0.83yrno datano data
Leonid Boguslavsky
Independent Supervisory Board Member3.5yrsno datano data
Anton Siluanov
Chairman of the Supervisory Board0.17yrno datano data
Maksim Oreshkin
Supervisory Board Member3.5yrsno datano data
Aleksander Kuleshov
Independent Supervisory Board Member2.42yrsno datano data
Esko Aho
Independent Supervisory Board Member4.5yrsno datano data
Nadya Wells
Independent Supervisory Board Member6.42yrsno datano data
Nikolay Kudryavtsev
Independent Supervisory Board Member1.5yrsno datano data

2.4yrs

Average Tenure

69.5yo

Average Age

Experienced Board: SBER's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


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

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: ₽5.132t
  • Shares outstanding: 21.49b
  • 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)PREF SHSRURUBJan 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 offers consumer, education, and c...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/23 20:45
End of Day Share Price2020/11/23 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.