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STOCK COMPARISON

Banestes S.A - Banco do Estado do Espírito Santo vs DBS Group Holdings: Fair Value & Quality

Both stocks run through our valuation models. Here is how Banestes S.A - Banco do Estado do Espírito Santo (BEES3) and DBS Group Holdings (D05) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Banestes S.A - Banco do Estado do Espírito Santo as the less overvalued of the two: Banestes S.A - Banco do Estado do Espírito Santo trades at BRL 8.98 versus a fair value of BRL 6.44 (-28%), while DBS Group Holdings trades at S$77.69 versus S$40.48 (-48%).
Banestes S.A - Banco do Estado do Espírito Santo
BEES3.SA · BRL · Financials
-28%
upside to fair value
overvalued
PriceBRL 8.98
Fair ValueBRL 6.44
Quality34/100
DBS Group Holdings
D05.SG · SGD · Financials
-48%
upside to fair value
overvalued
PriceS$77.69
Fair ValueS$40.48
Quality65/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Banestes S.A - Banco do Estado do Espírito SantoDBS Group Holdings
Valuation
9.6×P/E (TTM)20.3×
1.96×P/S (TTM)7.74×
1.29×P/B2.50×
3.1×EV/EBITDAn/a
0.02×PEG3.44×
−28.3%Fair value upside−47.9%
8.3%Dividend yield3.7%
BRL 0.74Dividend per shareS$2.85
Profitability
29%Operating margin60%
0.34×EBIT margin trend (5Y)0.99×
14%Return on equity16%
1%Return on assets1%
Growth
-15%Revenue growth (YoY)3%
5.0%Avg. growth/yr (3Y)11.6%
24.2%Avg. growth/yr (5Y)9.4%
+14.2%Value creation/yr+12.7%
Balance & size
0.1×Interest coverage (EBIT/interest)0.6×
0.07×Debt / equity0.69×
$613MMarket cap$173B
expensiveGrowth qualityhealthy

Banestes S.A - Banco do Estado do Espírito Santo leads: 9 to 5 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Banestes S.A - Banco do Estado do Espírito Santoof which business quality 27 · market factors 71 DBS Group Holdingsof which business quality 61 · market factors 93
ProfitabilityMargins and returns on capital today
24
38
Quality GrowthAre margins and returns improving?
46
54
CashflowEarnings quality: real cash, not paper profit
0
84
Fin. StrengthBalance sheet, leverage, solvency risk
16
56
InvestmentDisciplined investing over empire-building
85
78
Low VolatilityCalm price path (market factor)
99
100
MomentumPrice trend over the last 3–12 months (market factor)
51
86
52W MomentumDistance to the 52-week high (market factor)
73
98
Net IssuanceShare count: buybacks or dilution?
25
65

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyBanestes S.A - Banco do Estado do Espírito SantoPrice BRL 8.98DBS Group HoldingsPrice S$77.69
Dividend Discount-84%below the priceBRL 1.41-29%below the priceS$54.87
Multiples+25%above the priceBRL 11.24-46%below the priceS$42.04
Asset-Based-48%below the priceBRL 4.67-79%below the priceS$16.26
Economic Profit-5%close to the priceBRL 8.57-59%below the priceS$32.23
Minimum-84%below the priceBRL 1.41-79%below the priceS$16.26
Maximum+25%above the priceBRL 11.24-29%below the priceS$54.87
Median-26%below the priceBRL 6.62-52%below the priceS$37.13
Geometric mean-44%below the priceBRL 5.02-57%below the priceS$33.16

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Banestes S.A - Banco do Estado do Espírito Santo: 4 of 6 models see the stock below the current price.

DBS Group Holdings: 6 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Banestes S.A - Banco do Estado do Espírito Santo
Price BRL 8.98
Fair Value BRL 6.44
Bear BRL 5.38Bull BRL 11.08
DBS Group Holdings
Price S$77.69
Fair Value S$40.48
Bear S$30.36Bull S$50.60

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Banestes S.A - Banco do Estado do Espírito Santo · Financials

Quality score34 · bottom 25%
Fair value upside-28% · below median

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-48% · bottom 25%

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Banestes S.A - Banco do Estado do Espírito Santo as the less overvalued of the two: Banestes S.A - Banco do Estado do Espírito Santo trades at BRL 8.98 versus a fair value of BRL 6.44 (-28%), while DBS Group Holdings trades at S$77.69 versus S$40.48 (-48%).

DBS Group Holdings has the higher quality score (65/100).

Open Banestes S.A - Banco do Estado do Espírito Santo live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.