Banco de Sabadell, S.A.
Banco de Sabadell, S.A. provides banking products and services in Spain, the United Kingdom, and Mexico. The company offers retail banking products, including investment products and medium- and long-term finance, such as consumer loans, mortgages, leasing and rental services, as well as other shor…
Banco de Sabadell, S.A. provides banking products and services in Spain, the United Kingdom, and Mexico. The company offers retail banking products, including investment products and medium- and long-term finance, such as consumer loans, mortgages, leasing and rental services, as well as other short-term finance; and cards and insurance products to individuals for personal use. It also provides financial products and services comprising investment and financing products, which include working capital products, revolving loans, and medium- and long-term finance; and custom structured finance and capital market solutions, and specialized advice for businesses; and cards and PoS terminals, as well as import and export and personalized expert advice services to companies and self-employed persons. In addition, the company offers corporate banking services consisting of financial and advisory solutions to large corporations and financial institutions; and structured finance, treasury, investment banking, trading, and custody and research services. Further, it provides current and savings accounts, loans, credit cards, and mortgages; and banking and financial services for corporate and commercial banking. Banco de Sabadell, S.A. was founded in 1881 and is based in Sabadell, Spain.Looks undervalued
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 below modeled range
Showing the EV/Sales (Rule of 40) you selected on the company card, using 3% growth, 2.4% terminal growth and 9.6% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 3% (limited from 7.48% because the latest annual revenue declined), discount rate 9.60%, terminal growth 2.40%. See a worked example.
Blended growth assumption: 7.5% (sector default 5.4%, own revenue history 17.6%, analyst revenue consensus 3.5%).
5-year outlook: relative outlook of about 11.8% a year (Medium 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 3.5% a year; the growth assumption used is 3.0%.
Adjust assumptions
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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 3.60 (-0.6%)
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EPS-based Gordon proxy
— EUR 4.55 (+25.7%)
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 1.80 (-50.2%)
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 1.71 (-52.7%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/EBITDA (12x)
— EUR 3.20 (-11.5%)
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 1.80 (-50.3%)
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 7.40 (+104.4%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 5.09 | 28.9% |
| Base EUR 7.40 | 51.1% |
| Bull EUR 9.71 | 62.7% |
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: 72 / 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 3 of 5 years | 12 / 20 |
| Growth | revenue +17.6% a year | 20 / 20 |
| Balance sheet | net debt 4.4x EBITDA | 0 / 20 |
| Margins | EBITDA margin 30% | 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 |
|---|---|---|---|---|---|---|
| SAB.MC (this company) | EUR 3.62 | -0.6% | 11.3 | 1.4 | 1.9% | 72 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.88 | 68.1% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.89 | 45.5% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.88 | 36.0% | 6.8 | 0.7 | 6.9% | 78 |
| PRU.L Prudential plc | GBP 9.29 | 33.8% | 8.1 | 1.6 | 1.9% | 78 |
| V Visa Inc. | USD 422.59 | 33.3% | 8.9 | – | 0.2% | 100 |
| AGS.BR ageas SA/NV | EUR 77.60 | 32.5% | 8.2 | 1.5 | 5.0% | 76 |
| SYF Synchrony Financial | USD 74.07 | 29.9% | 7.2 | 1.4 | 2.1% | 100 |
| NWG.L NatWest Group plc | GBP 5.92 | 29.6% | 8.3 | 1.3 | 4.9% | 88 |
| Peer median | 7.6 | 1.4 | ||||
Dividends
Paid in the last 12 months: EUR 0.57 per share · yield 15.75% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.500 |
| 2025 | 0.264 |
| 2024 | 0.110 |
| 2023 | 0.050 |
| 2022 | 0.050 |
| 2020 | 0.020 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | EUR 7,774,100,000 |
|---|---|
| EBITDA | EUR 2,323,946,000 |
| EBIT | EUR 1,902,949,000 |
| Net income | EUR 1,773,000,000 |
| Free cash flow | EUR 1,379,501,000 |
| Capital expenditures | EUR 298,478,000 |
| Debt | EUR 43,469,264,000 |
| Cash | EUR 33,332,000,000 |
| Working capital | EUR 13,025,820,000 |
| Shares outstanding | 5,540,625,000 |
| Reported dividends per share | EUR 0.0700 |