Nedbank Group Limited

OTCPK:NDBK.F Stock Report

Market Cap: US$7.6b

Nedbank Group Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 Fair Value

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

Below Fair Value: NDBK.F ($16.92) is trading below our estimate of fair value ($24.07)

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


Key Valuation Metric

Which metric is best to use when looking at relative valuation for NDBK.F?

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

The above table shows the Price to Earnings ratio for NDBK.F. This is calculated by dividing NDBK.F's market cap by their current earnings.
What is NDBK.F's PE Ratio?
PE Ratio8.6x
EarningsR15.90b
Market CapR137.23b

Price to Earnings Ratio vs Peers

How does NDBK.F's PE Ratio compare to its peers?

The above table shows the PE ratio for NDBK.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.1x
CMA Comerica
17.9x10.8%US$9.6b
BAP Credicorp
11.1x11.8%US$15.2b
NTB Bank of N.T. Butterfield & Son
7.9x-7.1%US$1.7b
FITB Fifth Third Bancorp
15.7x8.3%US$32.5b
NDBK.F Nedbank Group
8.6x9.5%US$137.2b

Price-To-Earnings vs Peers: NDBK.F is good value based on its Price-To-Earnings Ratio (8.6x) compared to the peer average (13.1x).


Price to Earnings Ratio vs Industry

How does NDBK.F's PE Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FRCB First Republic Bank
0.02xn/aUS$27.98m
BKGM BankGuam Holding
1xn/aUS$18.48m
SBNY Signature Bank
0.002xn/aUS$2.18m
BCBH.F Caribbean Investment Holdings
0.00001xn/aUS$132.00
No more companies available in this PE range
NDBK.F 8.6xIndustry Avg. 13.3xNo. of Companies93PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NDBK.F is good value based on its Price-To-Earnings Ratio (8.6x) compared to the US Banks industry average (13.3x).


Price to Earnings Ratio vs Fair Ratio

What is NDBK.F'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.

NDBK.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NDBK.F's Price-To-Earnings Fair Ratio for valuation analysis.


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 NDBK.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$16.92
US$17.45
+3.1%
6.2%US$19.15US$15.95n/a7
Nov ’25n/a
US$18.42
0%
6.2%US$20.25US$16.88n/a7
Oct ’25n/a
US$18.42
0%
6.2%US$20.25US$16.88n/a7
Sep ’25US$16.80
US$17.41
+3.6%
5.0%US$18.62US$16.15n/a7
Aug ’25n/a
US$15.52
0%
8.6%US$17.01US$13.84n/a8
Jul ’25US$14.50
US$14.98
+3.3%
8.9%US$17.14US$13.21n/a8
Jun ’25US$13.50
US$14.26
+5.6%
8.0%US$16.42US$12.94n/a8
May ’25US$10.80
US$14.23
+31.8%
8.8%US$16.39US$12.91n/a8
Apr ’25n/a
US$13.84
0%
9.0%US$16.16US$12.34n/a9
Mar ’25US$11.60
US$13.19
+13.7%
9.8%US$15.28US$11.69n/a9
Feb ’25US$11.75
US$13.38
+13.9%
10.1%US$15.58US$11.91n/a9
Jan ’25US$11.35
US$13.27
+16.9%
10.8%US$15.48US$11.32n/a9
Dec ’24US$11.60
US$13.71
+18.2%
12.3%US$16.15US$11.32n/a9
Nov ’24US$10.10
US$13.54
+34.1%
11.7%US$15.98US$11.24n/a9
Oct ’24US$10.85
US$13.41
+23.6%
10.9%US$15.72US$11.06n/a9
Sep ’24US$11.60
US$13.77
+18.7%
10.6%US$15.94US$12.06US$16.809
Aug ’24US$13.40
US$14.13
+5.5%
14.0%US$18.65US$12.07n/a9
Jul ’24US$11.75
US$13.95
+18.7%
13.3%US$18.26US$11.99US$14.509
Jun ’24US$10.30
US$13.20
+28.1%
12.9%US$17.07US$11.46US$13.509
May ’24US$11.65
US$14.22
+22.1%
12.0%US$18.26US$12.37US$10.809
Apr ’24US$11.75
US$14.63
+24.5%
12.2%US$18.83US$12.75n/a9
Mar ’24n/a
US$13.89
0%
7.8%US$16.37US$12.75US$11.609
Feb ’24US$13.52
US$14.85
+9.8%
7.9%US$17.47US$13.61US$11.759
Jan ’24US$11.69
US$14.30
+22.3%
7.7%US$16.91US$13.29US$11.359
Dec ’23US$11.70
US$14.76
+26.2%
5.8%US$16.40US$13.81US$11.609
Nov ’23US$11.81
US$13.97
+18.3%
4.5%US$15.20US$13.18US$10.109

Analyst Forecast: Target price is less than 20% higher than the current share price.


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