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Caixabank SA (CABK) Fair Value & Analysis

Financial Services · ES · Market cap €87.1B · ISIN ES0140609019

What is Caixabank SA really worth?

CS Caixabank SA CABK · MC
Price€13.52
Fair Value€8.85
Upside−34.5%
Quality64/100

A solid business, but trading 53% above our fair value of €8.85.

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Strengths

Highly profitable · 38.8% net margin
Moderate debt · generates free cash flow
Wide moat 68/100

Risks

!Mixed Growth (revenue 5y +18.8 %/yr)
!Mixed vs. peers (7/15)
!Weak on future: 14 out of 100
Evidence: High Range €6.64 – €11.06

Fair value as of: Sep 5, 2026

From 6 valuation models · updated today

Share price +5.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (€11.06). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

€13.53 €1.73 Fair Value €8.85 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range €1.73 – €13.53 · fair‑value band €6.64 – €11.06 · the €13.52 price screens above the €8.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Caixabank SA (CABK) currently trades at €13.52, while our model-based Fair Value estimate is €8.85, implying the stock looks roughly 52.7% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of €7.75 per share, and 0 of the 6 models we run sit above the €13.52 price. Bear case: the Asset-Based group reads lowest at €3.71, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Caixabank SA generated revenue of €15.5B at a net margin of 38.8%. Revenue grew 2.7% year over year. It earns a return on equity of 16.0%. Net debt stands at €39.7B. Fundamentals as of Sep 5, 2026

Our scenario range runs from €6.64 (bear case) to €11.06 (bull case); at €13.52, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 96% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −35%, CABK screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.5504 per share, which is 6.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence €5.62 €7.14 €16.59 70
Gordon GGM €4.24 €8.81 €13.98 66
DDM Multi-Stage €4.24 €7.43 €9.25 66
All 6 models by family
Dividend Discount
Gordon GGM €4.24 €8.81 €13.98 66
DDM Multi-Stage €4.24 €7.43 €9.25 66
Multiples
P/E Multiple €8.26 €11.01 €13.76 63
P/B Multiple €5.81 €7.75 €9.69 55
Asset-Based
NCAV (Graham) €2.77 €3.71 €5.53 54
Economic Profit
Residual Income best evidence €5.62 €7.14 €16.59 70

Widest divergence: Multiples (€7.75) versus Asset-Based (€3.71). Highest evidence: Residual Income (70).

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Key figures & financial health

P/E ratio 16.7
P/S ratio 3.78 P/E × margin
EPS (TTM) €0.8100 price ÷ EPS = P/E 16.7
Dividend yield 4.0% payout 66.3%
Net margin 22.6% FY2025
Return on equity 16.0% TTM
More key figures
Profitability
Return on assets (EBIT) 1.1% avg 5y
Operating margin 56.7% TTM
Growth
Revenue (TTM) €15.5B TTM
Revenue growth (YoY) +2.7% 3y avg +19.6%
EPS growth (YoY) +8.6%
Balance sheet & cash flow
Free cash flow €42.0B FY2025
Net debt €39.7B FY2025 · ≈ 0.9 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 62 · Market factors (momentum, volatility) 90

Profitability 36
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 86
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Caixabank SA reported revenue of €26.0B in FY2025 versus €13.3B in FY2021, a compound +18.3%/yr. Reported net income was €5.9B in FY2025, compounding +3.0%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€26.0B
Latest YoY
−3.0%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.8%
Avg. revenue growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+28.0% (24.0 + 4.0)
Revenue +18.3%/yr
FY21 €13.3B
FY22 €15.2B
FY23 €24.1B
FY24 €26.8B
FY25 €26.0B
Net income +3.0%/yr
FY21 €5.2B
FY22 €3.1B
FY23 €4.8B
FY24 €5.8B
FY25 €5.9B
Character of growth · EPS growth decomposed (2014-2025) +20.4 % p.a.
Revenue per share +6.7 %

of which total revenue +9.4 % · buybacks/dilution −2.4 %

EBIT margin +18.2 %
Tax rate −4.5 %
Residual (interest, one-offs) +0.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

CABK screens 53% overvalued. Compare with DBS Group →

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Cite: Fair Value Calculator (2026). "Caixabank SA Fair Value". https://www.fairvalue-calculator.com/stock/CABK

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Banks - Regional · 1071 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside −35% · Bottom 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 39% · Top 25%
Operating margin (TTM) 57% · Top 25%
Revenue growth 3% · Below median
Dividend yield (TTM) 4.0% · Above median
Debt / equity 1.37× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 16.7× · Pricier than 75% of peers
P/B 2.63× · Pricier than 75% of peers
P/S (TTM) 6.55× · Pricier than 75% of peers
P/FCF 2.4× · Cheaper than median
EV/EBITDA 12.3× · Pricier than median
PEG 0.94× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 33
FUTURE14 · sector 45
PAST64 · sector 41
HEALTH32 · sector 85
DIVIDEND79 · sector 51

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
DBS Group D05 75.65 SGD 40.48 SGD −46%
China Merchants Bank Co 3968 HK$47.96 HK$76.51 +60%
Intesa Sanpaolo S.p.A ISP €6.78 €5.66 −17%
HDFC Bank Limited HDB $23.17 $24.12 +4%
BNP Paribas SA BNP €102.56 €144.64 +41%
UniCredit S.p.A UCG €84.71 €77.62 −8%
Mizuho Financial Group MFG $10.74 $9.69 −10%
ICICI Bank Limited ICICIBANK ₹1,443 ₹835.21 −42%
Oversea-Chinese Banking Corporation O39 31.07 SGD 19.80 SGD −36%
The PNC Financial Services Group PNC $242.22 $192.40 −21%

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Frequently asked questions

Is Caixabank SA (CABK) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of €8.85 versus a price of €13.52, about −35% upside (overvalued).
What is the fair value of CABK?
Our model-based fair value for Caixabank SA is €8.85 (as of Sep 5, 2026), built from audited fundamentals. The current price: €13.52.
What is the quality score of CABK?
Caixabank SA has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Caixabank SA (CABK)?
Caixabank SA reported trailing-twelve-month revenue of about €15.5B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of CABK?
The net profit margin of Caixabank SA is about 38.8%, meaning it keeps roughly 38.8% of revenue as net income. Based on the latest reported figures.
Does Caixabank SA pay a dividend?
Caixabank SA currently shows a dividend yield of about 3.97% relative to its recent price (as of Sep 5, 2026).
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