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Addiko Bank AG (ADKO) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Addiko Bank AG stock €35.01, price €24.50, upside +42.9%, quality 46 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services AT · ISIN AT000ADDIKO0

AB Addiko Bank AG logo Thin data Nov 5, 2026

Addiko Bank AG

ADKO · VI
Speculative

The stock costs 30% less than our calculation considers fair.

Fair value €35.01 · Undervalued
Even on cautious assumptions the value is 42% above the price (€34.79).
Quality 46/100
Expensive Growth (revenue 5y +5.2 %/yr in EUR)
Loss over the last twelve months · -1.1% net margin (TTM) · fiscal year 2025 13.6%
Mixed vs. peers (5/10)
Narrow moat 33/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€29.00 €10.10 Fair Value €35.01 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range €10.10 – €29.00 · fair‑value band €34.79 – €45.08 · the €24.50 price screens below the €35.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.

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Company profile

Addiko Bank AG provides various banking products and services in Croatia, Slovenia, Serbia, Bosnia and Herzegovina, Montenegro, Austria, Germany, and Serbia. It operates through Consumer, Small and Medium-Sized Enterprises (SME), Mortgage, Large Corporates, and Public Finance segments.

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The company offers online and direct deposits; consumer and public finance, mortgage loans relating to real estate purchase or leveraging private real estate as collateral, unsecured personal loan products and working capital loans, and trade finance products.

It serves private individuals, SMEs, entrepreneurs, ministries of finance, state enterprises, local governments, and public institutions. Addiko Bank AG is headquartered in Vienna, Austria.

Stock analysis

Addiko Bank AG (ADKO) currently trades at €24.50, while our model-based Fair Value estimate is €35.01, implying the stock looks roughly 30% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €46.39 per share, and 4 of the 6 models we run sit above the €24.50 price.

Bear case: the Dividend Discount group reads lowest at €15.98, and 2 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: €34.79 (bear) to €45.08 (bull), the price of €24.50 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 46/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Addiko Bank AG reported revenue of €323M in FY2025 versus €248M in FY2021, a compound +6.9%/yr. Reported net income was €44.0M in FY2025, compounding +34.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap €473M Small · P/S ratio 1.77 · EPS (TTM) €−0.1600 · Dividend yield 4.9% · Net margin −1.1% · Return on equity −0.3% · Return on assets (EBIT) 1.1% (5-year average) · Operating margin 17.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).

What moves the price

The share trades about 16% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 43%, ADKO screens cheaper than that median.

Fair Value models

Bear €34.79 Fair Value €35.01 Bull €45.08
Price €24.50 · Upside +42.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income €34.87 €35.01 €36.67 76
Gordon GGM €10.66 €16.79 €23.23 68
DDM Multi-Stage €10.66 €15.16 €19.82 67
All 6 models by family
Dividend Discount
Gordon GGM €10.66 €16.79 €23.23 68
DDM Multi-Stage €10.66 €15.16 €19.82 67
Multiples
P/E Multiple €22.24 €29.66 €37.07 63
P/B Multiple €47.34 €63.11 €78.89 55
Asset-Based
NCAV (Graham) €22.54 €30.20 €45.08 51
Economic Profit
Residual Income €34.87 €35.01 €36.67 76

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Quality Score breakdown

Overall quality 46/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 24
How much profit the company makes from its sales and capital
Quality Growth 44
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 55
Debt, balance sheet and risk of trouble
Investment 81
Does it invest with discipline instead of growing at any price?
Low Volatility 81
How calm the share price moves, does not count
Price momentum 39
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 51
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 37/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +31.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +26.7%
Dividend (yield on the price)4.9%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 19%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.70 per share, median 3.74 in 2017 to 2018). It measures the recovery from the trough, not lasting growth.

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Peer Groupⓘ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.Banks - Regional · 996 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 46 · Bottom 25%
Fair Value upside +42.9% · Top 25%
Profitability
Return on assets 0.7% · Below median
Net margin (12 months) −1.1% · Bottom 25%
Operating margin (12 months) 17.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 9.7% · Above median
Dividend yield (12 months) 4.9% · Top 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/B 0.53× · Cheapest 25%
P/S (12 months) 1.69× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)91 · sector 8
FUTURE (revenue growth)49 · sector 47
PAST (return on equity)0 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)98 · sector 53

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

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 - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Postal Savings Bank of China Co 601658 ¥5.53 ¥7.59 +37% vs ADKO
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs ADKO
BNP Paribas SA BNP €91.93 €106.01 +15% vs ADKO
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs ADKO
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs ADKO
UniCredit S.p.A UCG €76.80 €50.44 −34% vs ADKO
Mizuho Financial Group MFG $9.40 $5.89 −37% vs ADKO
DBS Group D05 69.72 SGD 40.39 SGD −42% vs ADKO
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs ADKO
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs ADKO

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Addiko Bank AG: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Addiko Bank AG Fair Value". https://www.fairvalue-calculator.com/stock/ADKO

Frequently asked questions

Is Addiko Bank AG (ADKO) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of €35.01 versus a price of €24.50, about +43% upside (undervalued).
What is the fair value of ADKO?
Our model-based fair value for Addiko Bank AG is €35.01 (as of Nov 5, 2026), built from audited fundamentals. The current price: €24.50.
What is the quality score of ADKO?
Addiko Bank AG has a Quality Score of 46/100. 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 price target for Addiko Bank AG (ADKO)?
Our model-based price target is the fair value of €35.01 (as of Nov 5, 2026) from 6 valuation models. Cautious scenario €34.79, optimistic scenario €45.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Addiko Bank AG stock forecast for 2026?
Our models put fair value at €35.01, about +43% upside versus a price of €24.50 (undervalued). Cautious scenario €34.79, optimistic scenario €45.08. The calculation is refreshed regularly with new filings.
What is the revenue of Addiko Bank AG (ADKO)?
Addiko Bank AG reported trailing-twelve-month revenue of about €280M (latest available figure, as of Nov 5, 2026).
Does Addiko Bank AG pay a dividend?
Addiko Bank AG currently shows a dividend yield of 4.90% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Addiko Bank AG (ADKO)?
Addiko Bank AG has a dividend yield of 4.9%.
What is the intrinsic value of Addiko Bank AG (ADKO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Addiko Bank AG it is €35.01 per share (as of Nov 5, 2026), against a price of €24.50. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Addiko Bank AG stock overvalued or undervalued in 2026?
As of Nov 5, 2026, ADKO trades below its calculated fair value: price €24.50, fair value €35.01, a gap of about +43% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ADKO?
No. The price is what the market pays today (€24.50); the fair value is what the company's own numbers justify (€35.01). For Addiko Bank AG the two are €10.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Addiko Bank AG worth?
The market values Addiko Bank AG at about €473M (market capitalisation, as of Nov 5, 2026). Per share that is €24.50; our models calculate a fair value of €35.01 per share.
What do the bullish and bearish scenarios say about ADKO?
Our models span a range for Addiko Bank AG: cautious scenario €34.79, base €35.01, optimistic €45.08 per share (as of Nov 5, 2026, price €24.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Addiko Bank AG (ADKO)?
Balance-sheet figures for Addiko Bank AG (as of Nov 5, 2026): return on equity −0.3%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is ADKO from its 52-week high?
Addiko Bank AG trades at €24.50, about 16% below its 52-week high of €29.00 and 17% above the low of €21.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €35.01 is for.
Which stocks are comparable to Addiko Bank AG?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Addiko Bank AG stock attractive at the current price?
The data as of Nov 5, 2026: price €24.50, calculated fair value €35.01 (+43%), Quality Score 46/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ADKO calculated?
We run Addiko Bank AG through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of €35.01 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Addiko Bank AG currently trades 30% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Addiko Bank AG (ADKO)?
The closing price on Nov 6, 2026 was €24.50. Our model-based fair value is €35.01, about +43% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Addiko Bank AG right now?
The large discount to fair value meets weak quality (46/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€34.79). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Addiko Bank AG

How large is the market capitalisation of Addiko Bank AG (ADKO)?
The market capitalisation of Addiko Bank AG is €473M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Addiko Bank AG (ADKO)?
The price-to-sales ratio of Addiko Bank AG is 1.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Addiko Bank AG (ADKO)?
Earnings per share at Addiko Bank AG are €−0.1600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Addiko Bank AG (ADKO)?
The dividend yield of Addiko Bank AG is 4.9%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Addiko Bank AG (ADKO)?
The net margin of Addiko Bank AG is −1.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Addiko Bank AG (ADKO)?
The return on equity (ROE) of Addiko Bank AG is −0.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Addiko Bank AG (ADKO)?
On an EBIT basis the return on assets of Addiko Bank AG is 1.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Addiko Bank AG (ADKO)?
The operating margin of Addiko Bank AG is 17.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Addiko Bank AG (ADKO)?
Revenue at Addiko Bank AG is growing +9.7% versus a year earlier (3y avg +8.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Addiko Bank AG (ADKO)?
Earnings per share at Addiko Bank AG are growing +12.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Addiko Bank AG (ADKO) generate?
The free cash flow of Addiko Bank AG is −€107M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Addiko Bank AG (ADKO) hold?
Addiko Bank AG holds more cash than debt, €915M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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