Itaú Unibanco Holding S.A (ITUB4) Fair Value & Analysis
Financial Services · BR · Market cap R$461B (≈ $90.3B) · ISIN BRITUBACNPR1
What is Itaú Unibanco Holding S.A really worth?
A solid business, but trading 12% above our fair value of R$37.35.
Strengths
Risks
For context
Fair value as of: Aug 25, 2026
From 6 valuation models · updated 11 days ago
Share price −0.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
- The price sits in the upper half of our model range, so the margin of safety is thin.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.
How to read this chart
60‑month range R$12.81 – R$48.40 · fair‑value band R$28.01 – R$46.68 · the R$41.92 price screens above the R$37.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 25, 2026.
Analysis
Itaú Unibanco Holding S.A (ITUB4) currently trades at R$41.92, while our model-based Fair Value estimate is R$37.35, implying the stock looks roughly 12.2% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Financial Services sector. Bull case: the Dividend Discount group reads highest at a median of R$74.25 per share, and 3 of the 6 models we run sit above the R$41.92 price. Bear case: the Asset-Based group reads lowest at R$12.25, and 3 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Itaú Unibanco Holding S.A generated revenue of R$138B at a net margin of 33.3%. Revenue declined 2.1% year over year. It earns a return on equity of 21.8%. Net debt stands at R$742B. Fundamentals as of Aug 25, 2026
Our scenario range runs from R$28.01 (bear case) to R$46.68 (bull case); at R$41.92, the current price sits within 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 about 15% below its 52-week high and 35% 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 −11%, ITUB4 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 R$0.5150 per share, which is 1.4 % 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.
All 6 models by family
Widest divergence: Dividend Discount (R$74.25) versus Asset-Based (R$12.25). Highest evidence: Residual Income (67).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 64
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
Itaú Unibanco Holding S.A. provides various financial products and services to personal and corporate customers in Brazil and internationally. It operates through three segments: Retail Business, Wholesale Business and Activities with the Market + Corporation.
Full company description
Itaú Unibanco Holding S.A. provides various financial products and services to personal and corporate customers in Brazil and internationally. It operates through three segments: Retail Business, Wholesale Business and Activities with the Market + Corporation. The company offers current accounts; funds management; payments and collections; loans; credit and debit cards; investment and commercial banking services; real estate lending and financing services; economic, financial and brokerage advisory; and leasing and foreign exchange services. The company also provides non-life insurance products covering loss, damage, or liability for objects or people, as well as life insurance products covering death and personal accidents. It serves retail customers, account and non-account holders, individuals and legal entities, high income clients, microenterprises, and small companies, as well as middle-market companies and high net worth institutional clients. The company was formerly known as Itaú Unibanco Banco Múltiplo S.A. and changed its name to Itaú Unibanco Holding S.A. in April 2009. The company was incorporated in 1924 and is headquartered in São Paulo, Brazil. Itaú Unibanco Holding S.A. is a subsidiary of IUPAR - Itaú Unibanco Participações S.A.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Itaú Unibanco Holding S.A reported revenue of R$139B in FY2025 versus R$122B in FY2021, a compound +3.3%/yr. Reported net income was R$44.9B in FY2025, compounding +13.8%/yr from FY2021.
of which total revenue +8.3 % · buybacks/dilution −0.8 %
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).
ITUB4 screens 12% overvalued. Compare with DBS Group →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Itaú Successfully Completes the Transfer of Its Retail Banking Business in Colombia and Strengthens Its Focus on Corporate Banking
- Swift and Itaú Unibanco enable faster and clearer international transfers for consumers in Brazil
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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 25, 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% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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