KBC Group has consistently been one of the most profitable banks in our coverage in the eurozone. We believe that KBC can consistently generate returns on tangible equity comfortably in excess of our cost of equity estimate of around 10%.
KBC has dominant market share in Belgium and Czech Republic in banking, insurance, and investment products.
The large contribution from Central and Eastern European emerging-market economies increases risk.
|
Metric
|
KBC
|
ING
|
ACA
|
|---|---|---|---|
Price/Earnings (Normalized) | 13.78 | 12.54 | 8.35 |
Price/Book Value | 1.96 | 1.71 | 0.65 |
Price/Sales | 3.79 | 3.60 | 2.03 |
Price/Cash Flow | 10.68 | 6.65 | 1.03 |
|
Metric
|
KBC
|
ING
|
ACA
|
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | — | — | — |
|
Metric
|
KBC
|
ING
|
ACA
|
|---|---|---|---|
Return on Assets (Normalized) | 0.96% | 0.64% | 0.29% |
Return on Equity (Normalized) | 15.28% | 14.13% | 8.87% |
Return on Invested Capital (Normalized) | — | — | — |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
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