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Banco de Sabadell S.A (SAB) Fair Value & Analysis

Financial Services · ES · Market cap €15.5B · ISIN ES0113860A34

What is Banco de Sabadell S.A really worth?

BD Banco de Sabadell S.A SAB · MC
Price€3.73
Fair Value€4.08
Upside+9.4%
Quality63/100

A solid business, currently priced close to our fair value of €4.08.

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Strengths

Healthy Growth (revenue 5y +6.1 %/yr)
Highly profitable · 38.1% net margin
Wide moat 65/100

Risks

!High debt · generates free cash flow
!Mixed vs. peers (8/15)
!Weak on balance sheet: 12 out of 100
Evidence: High Range €3.06 – €5.09

Fair value as of: Aug 31, 2026

From 6 valuation models · updated 5 days ago

Share price +9.7% 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 close to our fair value, market and models broadly agree here, little valuation tension.
  • 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)

€3.73 €0.3632 Fair Value €4.08 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.

How to read this chart

60‑month range €0.3632 – €3.73 · fair‑value band €3.06 – €5.09 · the €3.73 price screens below the €4.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.

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Analysis

Banco de Sabadell S.A (SAB) currently trades at €3.73, while our model-based Fair Value estimate is €4.08, implying the stock looks roughly 8.6% fairly valued today. The Quality Score stands at 63/100 (solid quality), in the Financial Services sector. Bull case: the Dividend Discount group reads highest at a median of €4.56 per share, and 4 of the 6 models we run sit above the €3.73 price. Bear case: the Asset-Based group reads lowest at €1.95, and 2 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Banco de Sabadell S.A generated revenue of €4.3B at a net margin of 38.4%. Revenue declined 10.6% year over year. It earns a return on equity of 9.6%. Net debt stands at €13.9B. Fundamentals as of Aug 31, 2026

Our scenario range runs from €3.06 (bear case) to €5.09 (bull case); at €3.73, 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 near its 52-week high and 66% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −8% fair-value upside, at 9%, SAB screens cheaper 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 €0.1556 per share, which is 3.8 % 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 €2.76 €3.23 €5.43 74
Gordon GGM €2.61 €5.42 €8.59 66
DDM Multi-Stage €2.61 €4.56 €5.69 66
All 6 models by family
Dividend Discount
Gordon GGM €2.61 €5.42 €8.59 66
DDM Multi-Stage €2.61 €4.56 €5.69 66
Multiples
P/E Multiple €3.59 €4.79 €5.98 63
P/B Multiple €3.06 €4.08 €5.10 55
Asset-Based
NCAV (Graham) €1.46 €1.95 €2.92 54
Economic Profit
Residual Income best evidence €2.76 €3.23 €5.43 74

Widest divergence: Dividend Discount (€4.56) versus Asset-Based (€1.95). Highest evidence: Residual Income (74).

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Key figures & financial health

P/E ratio 16.2
P/S ratio 3.70 P/E × margin
EPS (TTM) €0.2300 price ÷ EPS = P/E 16.2
Dividend yield 9.6% payout 156%
Net margin 22.8% FY2025
Return on equity 8.7% TTM
More key figures
Profitability
Return on assets (EBIT) 0.7% avg 5y
Operating margin 50.2% TTM
Growth
Revenue (TTM) €4.3B TTM
Revenue growth (YoY) −10.7% 3y avg +21.4%
EPS growth (YoY) −22.8%
Balance sheet & cash flow
Free cash flow €9.6B FY2025
Net debt €13.9B FY2025 · ≈ 1.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 64 · Market factors (momentum, volatility) 82

Profitability 34
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 68
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

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 …

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Banco de Sabadell S.A reported revenue of €7.8B in FY2025 versus €4.1B in FY2021, a compound +17.6%/yr. Reported net income was €1.8B in FY2025, compounding +35.2%/yr from FY2021.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€7.8B
Latest YoY
+36.1%
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.
+21.4%
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.
+6.1%
Avg. revenue growth/yr (23Y) 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.
+8.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+37.1% (27.5 + 9.6)
Revenue +17.6%/yr
FY21 €4.1B
FY22 €4.3B
FY23 €5.0B
FY24 €5.7B
FY25 €7.8B
Net income +35.2%/yr
FY21 €530M
FY22 €889M
FY23 €1.3B
FY24 €1.8B
FY25 €1.8B
Character of growth · EPS growth decomposed (2014-2025) +11.3 % p.a.
Revenue per share +0.6 %

of which total revenue +1.1 % · buybacks/dilution −0.5 %

EBIT margin +11.3 %
Tax rate −1.2 %
Residual (interest, one-offs) +0.6 %

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).

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Cite: Fair Value Calculator (2026). "Banco de Sabadell S.A Fair Value". https://www.fairvalue-calculator.com/stock/SAB

Earlier news

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

Peer Group

Banks - Diversified · 48 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 68 · Top 25%
Fair Value upside +9% · Above median
Return on equity (TTM) 9% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 38% · Above median
Operating margin (TTM) 50% · Above median
Revenue growth −11% · Bottom 25%
Dividend yield (TTM) 9.6% · Top 25%
Debt / equity 1.76× · Higher than median

Valuation Multiples vs Banks - Diversified median · lower = cheaper

P/E (TTM) 16.2× · Pricier than median
P/B 1.28× · Cheaper than median
P/S (TTM) 4.19× · Pricier than median
P/FCF 1.9× · Cheaper than median
EV/EBITDA 5.6× · Cheaper than 75% of peers
PEG 4.40× · Pricier 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
VALUE46 · sector 14
FUTURE0 · sector 25
PAST35 · sector 42
HEALTH12 · sector 48
DIVIDEND100 · sector 70

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 - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).

Stock Price Fair Value vs Fair Value
JPMorgan Chase & Co JPM $354.22 $217.97 −38%
Bank of America Corporation BAC $61.17 $50.87 −17%
China Construction Bank Corporation 601939 ¥10.55 ¥18.21 +73%
Industrial and Commercial Bank of China Limited 601398 ¥7.86 ¥14.44 +84%
HSBC Holdings HSBC $103.14 $75.89 −26%
Agricultural Bank of China Limited 601288 ¥6.79 ¥12.94 +91%
Royal Bank of Canada RY C$283.11 C$151.80 −46%
Bank of China Limited 601988 ¥6.14 ¥11.24 +83%
Wells Fargo & Company WFC $86.69 $79.60 −8%
Mitsubishi UFJ Financial Group MUFG $22.90 $20.50 −10%

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Frequently asked questions

Is Banco de Sabadell S.A (SAB) overvalued or undervalued?
As of Aug 31, 2026, our model estimates a fair value of €4.08 versus a price of €3.73, about +9% upside (fairly valued).
What is the fair value of SAB?
Our model-based fair value for Banco de Sabadell S.A is €4.08 (as of Aug 31, 2026), built from audited fundamentals. The current price: €3.73.
What is the quality score of SAB?
Banco de Sabadell S.A has a Quality Score of 63/100. 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 Banco de Sabadell S.A (SAB)?
Banco de Sabadell S.A reported trailing-twelve-month revenue of about €4.3B (latest available figure, as of Aug 31, 2026).
What is the net profit margin of SAB?
The net profit margin of Banco de Sabadell S.A is about 38.4%, meaning it keeps roughly 38.4% of revenue as net income. Based on the latest reported figures.
Does Banco de Sabadell S.A pay a dividend?
Banco de Sabadell S.A currently shows a dividend yield of about 9.60% relative to its recent price (as of Aug 31, 2026).
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