Financials Merkur PrivatBank KgaA

Equities

Market Closed - Xetra Other stock markets 11:36:11 2024-04-26 am EDT			5-day change	1st Jan Change
14.9 ^EUR	0.00%		+2.76%	-8.59%

Jan. 15	Merkur PrivatBank KgaA Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Merkur PrivatBank KgaA Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	46.35	68.95	78.57	114.3	105.8	115.9	115.9	-
Enterprise Value (EV) ¹	46.35	68.95	78.57	114.3	105.8	126.8	115.9	115.9
P/E ratio	12.7 x	2.34 x	9.58 x	12.5 x	10.7 x	11.8 x	10.3 x	9.81 x
Yield	3.93%	3.3%	3.96%	3.06%	3.31%	3.02%	3.36%	3.69%
Capitalization / Revenue	1.29 x	1.43 x	1.07 x	1.39 x	1.07 x	1.07 x	1 x	0.98 x
EV / Revenue	1.29 x	1.43 x	1.07 x	1.39 x	1.07 x	1.07 x	1 x	0.98 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.9 x	0.74 x	0.74 x	1.01 x	0.88 x	0.97 x	0.91 x	0.86 x
Nbr of stocks (in thousands)	5,687	7,109	7,779	7,779	7,779	7,779	7,779	-
Reference price ²	8.150	9.700	10.10	14.70	13.60	14.90	14.90	14.90
Announcement Date	7/29/19	1/15/20	4/20/21	3/18/22	3/24/23	1/15/24	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	36.04	48.19	73.17	82.53	98.66	118.9	115.8	117.8
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	12.11	17.86	-	15.49	-	57.18	47	46
Operating Margin	33.6%	37.05%	-	18.77%	-	48.08%	40.6%	39.03%
Earnings before Tax (EBT) ¹	12.11	31.32	17.82	21.39	22.15	33.8	37.53	38.03
Net income ¹	3.654	26.55	8.204	9.171	11.64	9.845	11.27	11.82
Net margin	10.14%	55.1%	11.21%	11.11%	11.8%	8.34%	9.74%	10.03%
EPS ²	0.6400	4.140	1.055	1.180	1.270	1.266	1.449	1.519
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.3200	0.3200	0.4000	0.4500	0.4500	0.4500	0.5000	0.5500
Announcement Date	7/29/19	1/15/20	4/20/21	3/18/22	3/24/23	1/15/24	-	-

¹EUR in Million²EUR

Estimates

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)	7.22%	33.8%	8.07%	8.36%	9.96%	8.46%	9.15%	9.04%
ROA (Net income/ Total Assets)	0.3%	1.45%	-	0.34%	-	0.3%	0.3%	0.3%
Assets ¹	1,222	1,830	-	2,700	-	3,282	3,757	3,939
Book Value Per Share ²	9.100	13.10	13.70	14.50	15.50	15.40	16.30	17.30
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	7/29/19	1/15/20	4/20/21	3/18/22	3/24/23	1/15/24	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

14.9 EUR

Average target price

18 EUR

Spread / Average Target

+20.81%

	1st Jan change	Capi.
MERKUR PRIVATBANK KGAA	-8.59%	124M
JPMORGAN CHASE & CO.	+13.75%	556B
BANK OF AMERICA CORPORATION	+12.36%	298B
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	+8.64%	247B
WELLS FARGO & COMPANY	+21.72%	210B
BANK OF CHINA LIMITED	+16.11%	170B
CHINA CONSTRUCTION BANK CORPORATION	+6.88%	162B
HSBC HOLDINGS PLC	+4.42%	153B
HDFC BANK LIMITED	-11.67%	138B
ROYAL BANK OF CANADA	+0.10%	139B