BAWAG Group AG BAWAY

FinancialsBanking ServicesAustria

Last close 44.63 USD on Nov 3, 2026, +22.0% year to date

Quant rating

Quant rating A Rank 43 of 304 in Financials

Growth A 19 of 304
Valuation C 132 of 304
Quality B 58 of 304
Revisions B 84 of 304
Momentum C 133 of 304

Wall Street consensus Buy (2.00)Average target 219.73 USD +392.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 13.6B
Enterprise value: 19.7B
52-week range: 34.12 – 54.49
3-year range: 22.75 – 54.49
Dividend yield: 4.15%
Beta (5 years): –
Shares outstanding: 77.0M
Next earnings: Feb 9, 2027

About the company

BAWAG Group AG is an Austria-based bank holding company engaged in providing financial products and services through a multi-channel strategy. It serves retail, small business and corporate customers in Austria. The Company’s product and related service offerings include comprehensive savings, payment, corporate lending, investment, leasing, building society and insurance. Its business activities are divided into five segments: BAWAG P.S.K. Retail, easygroup, DACH Corporates & Public Sector, International Business and Treasury Services & Markets. The main operating subsidiaries of the Company are BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG, Easybank AG, Start Bausparkasse AG and Suedwestbank AG.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,947	3,211	2,927	1,418	1,302	–
Revenue growth	22.9%	9.7%	106.3%	8.9%	−4.5%	23.7%
EPS (basic, normalized)	12.67	10.10	8.92	3.65	6.43	–
EPS growth	25.4%	13.2%	144.1%	−43.1%	33.7%	21.4%
Gross margin	–	–	–	–	–	–
Net margin	24.2%	23.8%	24.9%	22.2%	39.7%	27.0%
ROE	11.9%	17.1%	16.7%	11.6%	11.7%	13.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	21,764
Net debt (mil)	–
Total equity (mil)	5,605
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	3,947	+22.9%	5.0x	66.92	+27.1%	0.7x	12.90	+26.5%	3.5x
2026	2,684	−32.0%	7.3x	70.47	+5.3%	0.6x	14.07	+9.1%	3.2x
2027	3,290	+22.5%	6.0x	78.41	+11.3%	0.6x	17.55	+24.7%	2.5x
2028	3,441	+4.6%	5.7x	85.20	+8.7%	0.5x	20.05	+14.3%	2.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,684	+0.5%	+0.6%	+0.8%	14.07	+0.2%	+0.3%	+0.3%
2027	3,290	+0.4%	+1.6%	+2.6%	17.55	+0.2%	+1.0%	+1.1%
2028	3,441	+0.4%	+1.6%	+2.6%	20.05	+0.1%	+1.2%	+1.3%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	393	391	388	450	535	548	555	576	579	590
Sales mean (mil)	389	390	391	448	532	558	558	569	587	590
Surprise	+1.0%	+0.4%	−0.8%	+0.4%	+0.6%	−1.9%	−0.7%	+1.1%	−1.4%	−0.1%
EPS reported	2.11	2.22	2.25	3.03	2.54	2.65	2.77	2.91	3.00	3.28
EPS mean	2.03	2.15	2.13	2.47	2.38	2.76	2.77	2.90	3.08	3.04
Surprise	+3.9%	+3.0%	+5.4%	+22.6%	+6.5%	−4.1%	+0.1%	+0.5%	−2.4%	+8.0%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
BAWAY BAWAG Group AG	13.6B	–	24.2%	0.95x	3.2x	2.5x	0.6x	0.6x
FNBKY FinecoBank S.p.A.	14.6B	–	90.3%	4.96x	36.9x	32.4x	10.1x	9.2x
BKNIY BANKINTER, S.A.	13.9B	–	27.1%	1.16x	–	–	–	–
PRBKY PIRAEUS BANK S.A.	13.5B	–	40.1%	1.60x	10.0x	8.7x	1.3x	1.3x
ISDAY Israel Discount Bank Ltd	12.9B	–	18.0%	1.26x	111.1x	96.3x	12.0x	11.3x
CHBAY The Chiba Bank, Ltd.	12.2B	–	30.8%	1.21x	82.0x	68.9x	7.5x	7.0x
Mean		–	38.4%	1.86x	48.7x	41.8x	6.3x	5.9x
Median		–	29.0%	1.24x	36.9x	32.4x	7.5x	7.0x

Technical analysis

1M−10.6%
3M−15.9%
1Y+66.6%
3Y+88.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, BAWAG Group AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	3,947	3,211	2,927	1,418	1,302	1,364
Total interest expense	1,790	1,852	1,569	326	236	245
Net interest income	2,157	1,358	1,358	1,093	1,067	1,119
Loan loss provision	262	80.2	100.0	127	87.9	140
Net interest income after loan loss provision	1,895	1,278	1,258	965	979	979
Non-interest income	883	633	553	531	693	601
Non-interest expense	−1,419	−886	−806	−1,039	−989	−1,128
Net income before taxes	1,359	1,025	1,005	457	683	452
Provision for taxes	347	238	251	116	137	104
Minority interest & equity in affiliates	−2.3	0	0	−0.3	−0.1	−0.4
Other	0	0	0	0	0	0
Net income before extraordinary items	1,010	787	754	341	546	347
Extraordinary items	–	–	–	–	–	–
Net income	1,010	787	754	341	546	347
Basic weighted average shares (mil)	77.9	78.5	81.8	87.2	88.8	87.9
Diluted weighted average shares (mil)	79.1	79.1	82.1	87.5	89.1	89.1
Basic EPS excluding extraordinary items	12.27	9.73	8.89	3.61	5.83	3.74
Basic EPS, normalized	12.67	10.10	8.92	3.65	6.43	4.81

Balance sheet in millions of USD, fiscal years

Balance sheet, BAWAG Group AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	17,083	19,085	14,662	14,100	14,847	13,338
Other earning assets	6,495	6,305	7,929	6,866	8,085	10,718
Net loans	59,604	47,102	36,786	38,274	39,746	39,086
Property, plant & equipment	352	263	286	287	330	405
Goodwill	137	123	135	105	109	115
Intangibles	491	428	452	454	499	559
Long-term investments	130	112	25.4	37.5	67.1	70.8
Other long-term assets	267	130	615	46.0	11.4	176
Other assets	352	312	301	322	336	409
Total assets	84,912	73,860	61,192	60,491	64,030	64,878
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	44.6	41.4	17.7	–	–	–
Total deposits	56,586	49,109	38,719	43,490	48,338	48,775
Other bearing liabilities	–	–	–	–	–	–
Short-term borrowings	–	–	43.0	43.9	52.3	236
Current portion of long-term debt	1,711	1,504	–	–	–	–
Long-term debt	19,130	16,558	15,304	10,911	8,336	7,672
Minority interest	10.6	0	0	0	5.7	4.9
Other liabilities	1,750	1,748	2,507	1,775	2,327	2,877
Total liabilities	79,233	68,960	56,590	56,220	59,059	59,565
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	90.4	81.8	86.6	88.0	101	107
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	5,134	4,258	4,161	3,829	4,382	4,715
Treasury stock	–	–	–	–	–	–
Other equity	456	560	354	355	488	490
Total equity	5,680	4,900	4,602	4,271	4,971	5,313
Total liabilities & shareholders' equity	84,912	73,860	61,192	60,491	64,030	64,878

Cash flow statement in millions of USD, fiscal years

Cash flow statement, BAWAG Group AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,010	787	754	341	546	348
Depreciation, depletion & amortization	298	142	173	470	89.8	313
Deferred taxes	–	–	–	–	–	–
Non-cash items	−1,389	−1,392	−800	−1,732	−789	−747
Changes in working capital	−3,767	1,752	1,261	547	508	1,872
Cash from operations	−3,848	1,288	1,388	−374	355	1,786
Investing activities
Capital expenditures	−113	−52.8	−35.3	−61.0	−47.7	−25.6
Other investing cash flows	824	4,074	−543	−344	1,398	−2,620
Cash from investing	712	4,021	−578	−405	1,351	−2,645
Financing activities
Financing cash flow items	−47.0	−22.8	−26.5	−26.8	−28.4	−18.3
Cash dividends paid	−507	−407	−337	−286	−523	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−433	109	−255	−380	−31.8	370
Cash from financing	−988	−321	−618	−692	−583	352
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−4,124	4,988	192	−1,470	1,122	−508
Free cash flow	−3,960	1,235	1,353	−435	307	1,760

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.