OTCPK:CIXP.F

Stock Analysis Report

Executive Summary

CaixaBank, S.A., together with its subsidiaries, provides banking and financial products and services in Spain and internationally.

Snowflake

Fundamentals

Good value with adequate balance sheet and pays a dividend.

Risks

  • CaixaBank has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has CaixaBank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.1%

OTCPK:CIXP.F

-1.8%

US Banks

-1.6%

US Market


1 Year Return

-48.6%

OTCPK:CIXP.F

-16.1%

US Banks

-3.0%

US Market

CIXP.F underperformed the Banks industry which returned -16.1% over the past year.

CIXP.F underperformed the Market in United States of America which returned -3% over the past year.


Share holder returns

CIXP.FIndustryMarket
7 Day2.1%-1.8%-1.6%
30 Day-15.3%-10.1%-5.7%
90 Dayn/a-5.0%0.2%
1 Year-48.6%-48.6%-13.7%-16.1%-0.8%-3.0%
3 Year-11.5%-11.5%37.9%28.5%38.1%29.1%
5 Yearn/a49.3%33.2%50.8%34.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is CaixaBank undervalued based on future cash flows and its price relative to the stock market?

10%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

CaixaBank's share price is below the future cash flow value, but not at a moderate discount (< 20%).

CaixaBank's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

CaixaBank is good value based on earnings compared to the US Banks industry average.

CaixaBank is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

CaixaBank is good value based on expected growth next year.


Price Based on Value of Assets

CaixaBank is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is CaixaBank expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

11.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

CaixaBank's revenue is expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).

CaixaBank's earnings are expected to grow by 11.8% yearly, however this is not considered high growth (20% yearly).

CaixaBank's revenue growth is positive but not above the United States of America market average.

CaixaBank's earnings growth is positive but not above the United States of America market average.

CaixaBank's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

CaixaBank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has CaixaBank performed over the past 5 years?

25.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

CaixaBank has delivered over 20% year on year earnings growth in the past 5 years.

CaixaBank's 1-year earnings growth is negative, it can't be compared to the 5-year average.

CaixaBank's 1-year earnings growth is negative, it can't be compared to the US Banks industry average.


Return on Equity

CaixaBank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

CaixaBank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if CaixaBank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is CaixaBank'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

Information is not available.

Information is not available.


Financial Institutions Analysis

CaixaBank has an acceptable proportion of non-loan assets held.

CaixaBank has a low allowance for bad loans.

CaixaBank's liabilities are made up of primarily low risk sources of funding.

CaixaBank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at CaixaBank are broadly funded by customer deposits.

CaixaBank has a high level of bad loans (greater than 2%).


Next Steps

Dividend

What is CaixaBank's current dividend yield, its reliability and sustainability?

8.65%

Expected Dividend Yield


Dividend Yield and Payments Analysis

CaixaBank's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.52%).

CaixaBank's dividend is above the markets top 25% of dividend payers in United States of America (3.93%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.8x coverage).


Next Steps

Management

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

2.9yrs

Average board tenure


CEO

Gonzalo Gortázar Rotaeche (54yo)

5.2yrs

Tenure

€3,547,000

Compensation

Mr. Gonzalo Gortázar Rotaeche has been the Chief Executive Officer of CaixaBank, S.A since June 30, 2014. Mr. Rotaeche served as an External Proprietary Director of Abertis Infraestructuras S.A. from May 1 ...


CEO Compensation Analysis

Gonzalo's remuneration is lower than average for companies of similar size in United States of America.

Gonzalo's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Board Age and Tenure

2.9yrs

Average Tenure

62.5yo

Average Age

The average tenure for the CaixaBank board of directors is less than 3 years, this suggests a new board.


Insider Trading

More shares have been bought than sold by CaixaBank individual insiders in the past 3 months.


Recent Insider Transactions

Buy€254,59730 Jul 19
Gonzalo Gortázar Rotaeche
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares100,000
Max Price€2.55
Buy€111,29830 Jul 19
Jordi Gual Solé
EntityIndividual
Role
Chairman of the Board
Chairman
Shares44,111
Max Price€2.52
Buy€6,08531 May 19
Jordi Gual Solé
EntityIndividual
Role
Chairman of the Board
Chairman
Shares1,960
Max Price€3.10
Buy€55,48031 May 19
Tomás Muniesa Arantegui
EntityIndividual
Role
Vice Chairman
Executive Deputy Chairman
Shares17,869
Max Price€3.10
Buy€91,18031 May 19
Gonzalo Gortázar Rotaeche
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares29,367
Max Price€3.10
Buy€6,63212 Feb 19
Javier Ibarz Alegría
EntityIndividual
Shares2,000
Max Price€3.32
Buy€345,32806 Feb 19
Gonzalo Gortázar Rotaeche
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares101,385
Max Price€3.41
Buy€7,11902 Jan 19
Javier Ibarz Alegría
EntityIndividual
Shares2,000
Max Price€3.56
Buy€28,66730 Oct 18
Koro Usarraga Unsain
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares7,175
Max Price€4.00

Ownership Breakdown


Management Team

  • Gonzalo Gortázar Rotaeche (54yo)

    CEO & Executive Director

    • Tenure: 5.2yrs
    • Compensation: €3.55m
  • Joaquim Vilar Barrabeig

    Chief Director of Intervention

    • Tenure: 0.0yrs
  • Tomás Muniesa Arantegui (67yo)

    Executive Deputy Chairman

    • Tenure: 1.3yrs
    • Compensation: €1.21m
  • Juan Antonio Alcaraz García

    Chief Business Officer & GM of Business

    • Tenure: 0.0yrs
  • Francesc Xavier Coll Escursell (63yo)

    Chief Human Resources & Organisation Officer

    • Tenure: 0.0yrs
  • Javier Pano Riera

    Chief Financial Officer

    • Tenure: 5.1yrs
  • Maria Luisa Martínez Gistau

    Executive Director of Communication

    • Tenure: 0.0yrs
  • Jorge Fontanals Curiel

    Head of Resources

    • Tenure: 0.0yrs
  • Jorge Mondéjar López

    Chief Risks Officer & GM of Risks

    • Tenure: 0.0yrs
  • Edward O'Loghlen

    Director of Investor Relations

    • Tenure: 0.0yrs

Board Members

  • Gonzalo Gortázar Rotaeche (54yo)

    CEO & Executive Director

    • Tenure: 5.2yrs
    • Compensation: €3.55m
  • Alejandro García-Bragado Dalmau (70yo)

    Proprietary Director

    • Tenure: 2.6yrs
    • Compensation: €118.00k
  • Marcelino Armenter Vidal (62yo)

    Proprietary Director

    • Tenure: 0.3yrs
  • Tomás Muniesa Arantegui (67yo)

    Executive Deputy Chairman

    • Tenure: 1.3yrs
    • Compensation: €1.21m
  • John Reed (80yo)

    Independent Director

    • Tenure: 7.8yrs
    • Compensation: €123.00k
  • Jordi Gual Solé (62yo)

    Chairman

    • Tenure: 3.2yrs
    • Compensation: €1.50m
  • Maria Amparo Moraleda Martinez (55yo)

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: €183.00k
  • Francesc Xavier Vives Torrents (64yo)

    Lead Independent Director

    • Tenure: 2.1yrs
    • Compensation: €178.00k
  • Koro Usarraga Unsain (62yo)

    Independent Director

    • Tenure: 3.2yrs
    • Compensation: €186.00k
  • Eduardo Javier Sanchiz Irazu (63yo)

    Independent Director

    • Tenure: 1.9yrs
    • Compensation: €182.00k

Company Information

CaixaBank, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CaixaBank, S.A.
  • Ticker: CIXP.F
  • Exchange: OTCPK
  • Founded: 1904
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €12.124b
  • Listing Market Cap: €13.506b
  • Shares outstanding: 5.98b
  • Website: https://www.caixabank.com

Number of Employees


Location

  • CaixaBank, S.A.
  • 2-4, Calle Pintor Sorolla
  • Valencia
  • 46002
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CABKBME (Bolsas y Mercados Espanoles)YesOrdinary Registered SharesESEUROct 2007
CIXP.FOTCPK (Pink Sheets LLC)YesOrdinary Registered SharesUSUSDOct 2007
0ILKLSE (London Stock Exchange)YesOrdinary Registered SharesGBEUROct 2007
CABKWBAG (Wiener Boerse AG)YesOrdinary Registered SharesATEUROct 2007
CABKeBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary Registered SharesGBEUROct 2007
48CADB (Deutsche Boerse AG)YesOrdinary Registered SharesDEEUROct 2007
CABK NBMV (Bolsa Mexicana de Valores)YesOrdinary Registered SharesMXMXNOct 2007
CAIX.YOTCPK (Pink Sheets LLC)ADRUSUSDDec 2011
A19JPDDB (Deutsche Boerse AG)6.75%-FRN T1 PERP EUR200000 'REGS'DEEURJun 2017
A19JPDDB (Deutsche Boerse AG)6.75%-FRN T1 PERP EUR200000 'REGS'DEEURJun 2017

Biography

CaixaBank, S.A., together with its subsidiaries, provides banking and financial products and services in Spain and internationally. The company operates through Banking and Insurance, and Non-Core Real Est ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/25 00:16
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
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.