CaixaBank SA CAIXY

FinancialsBanking ServicesSpain

Last close 4.25 USD on Nov 3, 2026, +8.2% year to date

Quant rating

Quant rating B Rank 88 of 304 in Financials

Growth A 40 of 304
Valuation B 115 of 304
Quality B 100 of 304
Revisions C 125 of 304
Momentum C 157 of 304

Wall Street consensus Hold (2.61)Average target 15.20 USD +257.6%

Historical valuation

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

Key data

Market cap: 88.7B
Enterprise value: 94.2B
52-week range: 3.41 – 5.21
3-year range: 1.30 – 5.21
Dividend yield: 4.65%
Beta (5 years): 0.44
Shares outstanding: 6,976M
Next earnings: Jan 30, 2027

About the company

Caixabank SA is a Spain-based bank. Its activities are divided into two business segments: Banking and insurance, as well as Investments. The Banking and insurance division provides financial services for individual customers, including retail, private and personal banking, business customers, such as commercial and corporate banking, cash management and markets solutions, as well as offers insurance products. The Investments division includes investments in the international banking investee portfolio, as well as stakes in other companies, such as Repsol SA and Telefonica SA. The Bank operates through domestic and foreign branches, as well as representative offices in Europe, the Americas, Africa and Asia.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	21,166	21,635	20,111	9,843	8,972	–
Revenue growth	−2.2%	7.6%	104.3%	9.7%	8.6%	20.7%
EPS (basic, normalized)	0.99	0.83	0.68	0.40	0.62	–
EPS growth	18.1%	21.7%	70.8%	−35.2%	9.5%	11.8%
Gross margin	–	–	–	–	–	–
Net margin	32.7%	27.7%	24.9%	31.2%	63.1%	35.9%
ROE	15.4%	15.4%	13.2%	8.3%	16.4%	13.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	56,029
Net debt (mil)	–
Total equity (mil)	45,026
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	21,166	−2.2%	4.4x	6.51	+20.9%	0.7x	1.00	+19.9%	4.3x
2026	19,184	−9.4%	4.9x	6.30	−3.3%	0.7x	1.04	+4.3%	4.1x
2027	21,274	+10.9%	4.4x	6.63	+5.4%	0.6x	1.21	+16.2%	3.5x
2028	22,754	+7.0%	4.1x	6.99	+5.3%	0.6x	1.32	+9.5%	3.2x

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	19,184	−0.2%	−0.3%	+0.1%	1.04	+0.6%	+1.6%	+4.8%
2027	21,274	−0.3%	+0.2%	+1.9%	1.21	−0.1%	+1.5%	+5.3%
2028	22,754	−0.1%	+0.8%	+3.0%	1.32	+0.1%	+1.9%	+6.4%

Earnings surprises EPS beat in 4 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)	3,496	4,205	4,092	4,080	4,011	4,029	4,077	4,152	4,127	4,211
Sales mean (mil)	3,487	4,104	4,062	4,011	3,772	3,974	4,017	4,113	4,077	4,195
Surprise	+0.3%	+2.5%	+0.7%	+1.7%	+6.3%	+1.4%	+1.5%	+0.9%	+1.2%	+0.4%
EPS reported	0.13	0.23	0.22	0.21	0.20	0.20	0.21	0.24	0.21	0.23
EPS mean	0.12	0.21	0.21	0.17	0.15	0.19	0.19	0.20	0.20	0.21
Surprise	+13.0%	+7.4%	+4.6%	+23.3%	+29.0%	+5.7%	+5.6%	+19.5%	+4.1%	+7.4%

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
CAIXY CaixaBank SA	88.7B	–	32.7%	1.26x	4.1x	3.5x	0.7x	0.6x
PNC The PNC Financial Services Group, Inc.	91.1B	11.1%	26.0%	1.35x	12.1x	10.7x	1.6x	1.5x
NABZY National Australia Bank Limited	89.4B	–	12.0%	0.94x	19.7x	16.5x	–	–
ING ING Groep N.V.	89.1B	–	12.4%	1.03x	11.1x	9.5x	1.5x	1.5x
WBKCY Westpac Banking Corp	88.1B	–	12.6%	0.91x	8.8x	8.5x	0.9x	0.8x
ANZGY ANZ Group Holdings Ltd	85.1B	–	9.2%	1.14x	–	–	–	–
Mean		11.1%	17.5%	1.10x	11.2x	9.7x	1.2x	1.1x
Median		11.1%	12.5%	1.08x	11.1x	9.5x	1.2x	1.1x

Technical analysis

1M−5.1%
3M−11.1%
1Y+28.4%
3Y+289.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, CaixaBank SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	21,166	21,635	20,111	9,843	8,972	8,261
Total interest expense	8,633	10,135	8,950	2,831	2,179	2,277
Net interest income	12,533	11,500	11,161	7,012	6,792	5,984
Loan loss provision	1,098	1,093	1,351	945	1,020	843
Net interest income after loan loss provision	11,435	10,407	9,810	6,067	5,773	5,142
Non-interest income	10,590	8,850	9,515	9,393	12,936	7,224
Non-interest expense	−11,838	−10,644	−11,684	−10,837	−12,666	−10,412
Net income before taxes	10,188	8,613	7,641	4,623	6,042	1,954
Provision for taxes	3,259	2,614	2,326	1,272	100	267
Minority interest & equity in affiliates	−11.7	−8.3	−2.2	−4.3	−3.4	0
Other	0	0	0	0	0	0
Net income before extraordinary items	6,917	5,990	5,313	3,347	5,939	1,687
Extraordinary items	2.3	1.0	2.2	2.1	2.3	0
Net income	6,919	5,991	5,315	3,349	5,941	1,687
Basic weighted average shares (mil)	7,060	7,262	7,470	7,819	7,575	5,977
Diluted weighted average shares (mil)	7,060	7,262	7,470	7,819	7,575	5,977
Basic EPS excluding extraordinary items	0.98	0.82	0.67	0.39	0.75	0.25
Basic EPS, normalized	0.99	0.83	0.68	0.40	0.62	0.56

Balance sheet in millions of USD, fiscal years

Balance sheet, CaixaBank SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	71,259	67,040	54,896	35,230	127,347	70,173
Other earning assets	224,171	181,408	189,226	180,151	195,248	152,699
Net loans	440,821	364,219	380,059	377,658	391,260	288,978
Property, plant & equipment	6,612	5,914	6,486	6,335	7,273	6,045
Goodwill	3,634	3,203	3,415	3,389	3,928	3,726
Intangibles	2,555	2,049	2,089	1,987	1,680	1,097
Long-term investments	2,054	1,940	2,117	2,198	2,881	4,205
Other long-term assets	18,852	17,844	21,051	22,185	25,613	13,425
Other assets	9,954	9,662	10,728	11,758	17,836	11,093
Total assets	779,911	653,280	670,066	640,893	773,067	551,441
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Total deposits	554,428	454,515	463,723	455,750	553,088	367,029
Other bearing liabilities	–	–	–	–	–	–
Short-term borrowings	361	218	70.6	63.1	318	333
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	61,316	58,560	62,635	56,301	61,028	43,738
Minority interest	18.8	35.2	35.3	34.2	35.2	30.5
Other liabilities	118,558	101,820	103,535	92,704	118,362	109,469
Total liabilities	734,682	615,149	629,998	604,853	732,831	520,600
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	8,251	7,428	8,279	8,029	9,164	7,305
Additional paid-in capital	13,463	12,744	14,865	14,416	17,357	14,696
Retained earnings (accumulated deficit)	24,164	18,840	19,541	15,962	15,533	11,103
Treasury stock	−170	−310	−573	−26.8	−21.6	−14.7
Other equity	−478	−571	−2,045	−2,341	−1,796	−2,247
Total equity	45,230	38,131	40,068	36,039	40,236	30,841
Total liabilities & shareholders' equity	779,911	653,280	670,066	640,893	773,067	551,441

Cash flow statement in millions of USD, fiscal years

Cash flow statement, CaixaBank SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	6,931	6,000	5,317	3,370	5,944	1,687
Depreciation, depletion & amortization	929	805	854	864	790	660
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	−2,680	10,636	11,204	−89,716	37,178	43,528
Cash from operations	5,180	17,441	17,375	−85,483	43,912	45,874
Investing activities
Capital expenditures	−1,140	−782	−884	−980	−771	−843
Other investing cash flows	1,101	624	1,108	1,156	16,559	1,434
Cash from investing	−39.9	−157	224	176	15,788	591
Financing activities
Financing cash flow items	−6,801	739	3,087	7.5	−880	−2,279
Cash dividends paid	−3,771	−4,086	−1,907	−1,261	−246	−511
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	767	−1,573	358	−3,010	1,225	909
Cash from financing	−9,806	−4,920	1,537	−4,264	100	−1,881
Foreign exchange effects	−3.5	1.0	−1.1	1.1	1.1	−6.1
Net change in cash	−4,670	12,365	19,135	−89,570	59,802	44,579
Free cash flow	4,039	16,659	16,491	−86,463	43,142	45,032

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.