CaixaBank, S.A.
CaixaBank, S.A., together with its subsidiaries, provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally. It operates through four segments: Retail Banking, Business Banking, Private Banking, and CIB segments. The company offers retail, …
CaixaBank, S.A., together with its subsidiaries, provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally. It operates through four segments: Retail Banking, Business Banking, Private Banking, and CIB segments. The company offers retail, private, business, institutional, corporate and investment, premier, InTouch, and international banking; payment methods; savings and investment products; financing; life, life-risk, and non-life insurance; traditional financial and independent advice, and broker services; ATMs; pension fund management; asset and wealth management; securitisation fund management; consumer finance; IT services; and back-office administration services. It also engages in the management of collective investment institutions; holding of property assets; venture capital company; promotion of business and entrepreneurial initiatives; development of digital projects; vehicle and equipment leasing; project management, maintenance, logistics, and procurement; marketing of products and cashless platforms; mortgage loan management; digital business; hotels; private security of goods and people; shopping center real estate; administration, management, development, and operation of real estate; and reinsurance activities. The company was formerly known as Criteria CaixaCorp, S.A. and changed its name to CaixaBank, S.A. in July 2011. CaixaBank, S.A. was founded in 1904 and is based in Valencia, Spain.Priced within the modelled range
Other models: EUR 10.02–79.23 (median 11.91). The recommended value is in line with them.
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Details and the full model are below.
Market price within modeled range
Justified P/B (ROE) using Fiscal year 2025 net income and book equity: return on equity of 15.3% gives a fair price-to-book of 1.79x, with 2.4% growth (capped at the terminal rate) and 9.6% discount. The range varies growth and discount by 1 percentage point; it is illustrative, not a statistical confidence interval or investment advice.
Assumptions: growth 3% (limited from 9.43% because the latest annual revenue declined), discount rate 9.60%, terminal growth 2.40%. See a worked example.
Blended growth assumption: 9.4% (sector default 5.4%, own revenue history 10.2%, analyst revenue consensus 11.1%).
5-year outlook: relative outlook of about 10.6% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 11.1% a year; the growth assumption used is 3.0%.
Adjust assumptions
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — EUR 9.81 (-15.5%)
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EPS-based Gordon proxy
— EUR 11.91 (+2.6%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— EUR 81.43 (+601.4%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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FCFF (steady state)
— EUR 79.23 (+582.4%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/EBITDA (12x)
— EUR 10.02 (-13.7%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— EUR 81.35 (+600.7%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/Sales (Rule of 40)
— EUR 22.68 (+95.3%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 8.27 | -40.4% |
| Base EUR 9.81 | -18.4% |
| Bull EUR 12.53 | 7.3% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 76 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 4 of 5 years | 16 / 20 |
| Growth | revenue +10.2% a year | 20 / 20 |
| Balance sheet | net debt 4.3x EBITDA | 0 / 20 |
| Margins | EBITDA margin 35% | 20 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| CABK.MC (this company) | EUR 11.61 | -18.4% | 13.9 | 2.1 | 3.9% | 76 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.44 | 68.5% | 3.6 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.88 | 45.6% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.73 | 36.6% | 6.7 | 0.7 | 7.0% | 78 |
| V Visa Inc. | USD 414.00 | 34.6% | 8.7 | – | 0.2% | 100 |
| PRU.L Prudential plc | GBP 9.24 | 34.2% | 8.0 | 1.6 | 1.9% | 78 |
| AGS.BR ageas SA/NV | EUR 76.95 | 33.0% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.86 | 30.3% | 8.2 | 1.3 | 5.0% | 88 |
| ACGL Arch Capital Group | USD 108.49 | 30.3% | 8.5 | 1.6 | 0.1% | 100 |
| Peer median | 8.1 | 1.5 | ||||
Dividends
Paid in the last 12 months: EUR 0.52 per share · yield 4.45% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.517 |
| 2025 | 0.454 |
| 2024 | 0.541 |
| 2023 | 0.231 |
| 2022 | 0.146 |
| 2021 | 0.027 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | EUR 26,036,000,000 |
|---|---|
| EBITDA | EUR 9,177,000,000 |
| EBIT | EUR 8,386,000,000 |
| Net income | EUR 5,891,000,000 |
| Free cash flow | EUR 41,971,000,000 |
| Capital expenditures | EUR 386,000,000 |
| Debt | EUR 85,501,000,000 |
| Cash | EUR 45,828,000,000 |
| Working capital | EUR -405,116,000,000 |
| Shares outstanding | 7,033,505,000 |
| Reported dividends per share | EUR 0.4565 |