Financials Banco del Bajío, S.A., Institución de Banca Múltiple

Equities

BBAJIO O

MX41BB000000

Banks

End-of-day quote Mexican S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
64.97 MXN +4.66% Intraday chart for Banco del Bajío, S.A., Institución de Banca Múltiple +6.96% +14.38%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 45,658 37,685 32,461 43,789 73,240 77,310 77,310 -
Enterprise Value (EV) 1 45,658 37,685 32,461 43,789 73,240 67,588 77,310 77,310
P/E ratio 8.96 x 6.72 x 9.44 x 9.11 x 9.11 x 6.09 x 7.17 x 7.58 x
Yield - - 6.97% 5.5% 6.6% 8.04% 8.6% 7.69%
Capitalization / Revenue 3.37 x 2.51 x 2.39 x 3.13 x 3.96 x 2.71 x 2.98 x 3 x
EV / Revenue 3.37 x 2.51 x 2.39 x 3.13 x 3.96 x 2.71 x 2.98 x 3 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.6 x 1.19 x 0.93 x 1.16 x 1.99 x 1.84 x 1.75 x 1.64 x
Nbr of stocks (in thousands) 1,189,932 1,189,932 1,189,932 1,189,932 1,189,932 1,189,932 1,189,932 -
Reference price 2 38.37 31.67 27.28 36.80 61.55 64.97 64.97 64.97
Announcement Date 1/30/19 1/29/20 1/27/21 1/26/22 1/25/23 1/30/24 - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 13,541 14,998 13,606 13,968 18,508 24,895 25,982 25,773
EBITDA - - - - - - - -
EBIT 1 7,645 7,647 4,407 5,757 11,547 16,815 13,217 14,234
Operating Margin 56.46% 50.99% 32.39% 41.22% 62.39% 67.54% 50.87% 55.23%
Earnings before Tax (EBT) 1 6,739 7,654 4,415 5,759 10,445 15,144 14,508 13,597
Net income 1 5,090 5,613 3,436 4,806 8,041 11,091 10,735 10,014
Net margin 37.59% 37.43% 25.25% 34.41% 43.45% 44.55% 41.32% 38.86%
EPS 2 4.280 4.710 2.890 4.039 6.758 9.320 9.061 8.577
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - - 1.901 2.023 4.061 5.225 5.586 4.997
Announcement Date 1/30/19 1/29/20 1/27/21 1/26/22 1/25/23 1/30/24 - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 3,824 3,725 4,196 4,788 5,799 5,849 6,139 6,206 6,701 6,378 6,528 6,476 6,581 6,472 6,555
EBITDA - - - - - - - - - - - - - - -
EBIT - - - - 3,923 - - - - - - - - - -
Operating Margin - - - - 67.65% - - - - - - - - - -
Earnings before Tax (EBT) 1,724 1,996 2,320 2,700 3,429 3,655 3,809 3,758 3,922 - - - - - -
Net income 1 1,541 1,526 1,811 2,109 2,595 2,691 2,782 2,755 2,863 2,779 2,731 2,678 2,618 2,452 2,440
Net margin 40.3% 40.97% 43.16% 44.05% 44.75% 46.01% 45.32% 44.39% 42.72% 43.57% 41.84% 41.35% 39.79% 37.89% 37.23%
EPS 2 1.295 1.000 1.522 1.770 2.180 2.260 2.340 2.320 2.410 2.340 2.294 2.250 2.203 2.060 2.051
Dividend per Share 2 - - - - - - - - - - 3.041 - 2.683 - 3.589
Announcement Date 1/26/22 4/27/22 7/27/22 10/26/22 1/25/23 4/26/23 7/26/23 10/25/23 1/30/24 4/24/24 - - - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 19.3% 18.6% 10.3% 13.2% 21.5% 28.2% 24.5% 20.7%
ROA (Net income/ Total Assets) 2.44% 2.43% 1.34% 1.74% 2.74% 3.4% 2.8% 2.48%
Assets 1 208,863 231,005 256,782 276,207 293,050 326,206 383,389 403,804
Book Value Per Share 2 24.00 26.60 29.30 31.80 30.90 35.20 37.00 39.60
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/30/19 1/29/20 1/27/21 1/26/22 1/25/23 1/30/24 - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
64.97 MXN
Average target price
68.59 MXN
Spread / Average Target
+5.58%
Consensus
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