Banestes S.A (BEES3) Fair Value & Analysis
Financial Services · BR · Market cap R$3.0B
Fair value as of: Jul 16, 2026
From 6 valuation models · updated 25 days ago
Share price +2.0% over the past month.
Below-average quality, screening 23% undervalued on our models.
What matters now
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
- Our model range runs from R$8.11 (bear) to R$13.52 (bull), base R$10.81. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 35/100 (below-average quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range R$2.76 – R$551,834 · fair‑value band R$8.11 – R$13.52 · the R$8.78 price screens below the R$10.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Banestes S.A (BEES3) currently trades at R$8.78, while our model-based Fair Value estimate is R$10.81, implying the stock looks roughly 23.1% undervalued today. The Quality Score stands at 35/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Banestes S.A generated revenue of R$1.6B at a net margin of 20.5%. Revenue declined 14.7% year over year. It earns a return on equity of 13.8%. Net debt stands at R$9.5B. Fundamentals as of Jul 16, 2026
Our scenario range runs from R$8.11 (bear case) to R$13.52 (bull case); at R$8.78, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 23%, BEES3 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Multiples (R$9.76) versus Dividend Discount (R$1.31). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 27 · Market factors (momentum, volatility) 71
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Banestes S.A - Banco do Estado do Espírito Santo S.A., together with its subsidiaries, operates as a multiple-service bank in Brazil. It operates through Financial; and Insurance and Other segments.
Full company description
Banestes S.A - Banco do Estado do Espírito Santo S.A., together with its subsidiaries, operates as a multiple-service bank in Brazil. It operates through Financial; and Insurance and Other segments. The company operates through its portfolios of commercial, rural, industrial, real estate, foreign exchange, leasing, investment, and credit card administration; and in the areas of insurance and distribution, intermediation, and administration of third-party resources. It also provides asset and fund management; administration and intermediation of securities, insurance, pension plans, and capitalization; investment funds; credit and debit cards; internet banking; checking, savings, special, trust check, young and university, easier, simplified, salary, and judicial accounts; capitalization bonds; car, life, home, personal accident, card financial protection, and business insurance; collections and agreement; transfer of funds and resources; collection; custody; credit and financing options; loans and guarantees; and other services. In addition, the company operates a public lottery service. Banestes S.A - Banco do Estado do Espírito Santo S.A. was founded in 1935 and is headquartered in Vitória, Brazil.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Banestes S.A reported revenue of R$6.2B in FY2025 versus R$2.6B in FY2021, a compound +23.9%/yr. Reported net income was R$340M in FY2025, compounding +7.9%/yr from FY2021.
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Peer Group
Banks - Regional · 1083 stocks
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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,175 IDR | 6,087 IDR | -1% |
| KB Financial Group 105560 | 184,400 KRW | 213,797 KRW | +16% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 2,970 IDR | 4,891 IDR | +65% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,310 IDR | 7,841 IDR | +82% |
| Banco Bradesco S.A BBD | 5,120 ARS | 10,240 ARS | +100% |
| Shinhan Financial Group 055550 | 107,900 KRW | 137,259 KRW | +27% |
| Hana Financial Group 086790 | 136,800 KRW | 193,969 KRW | +42% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Banco de Chile, CHILE | 193.10 CLP | 152.55 CLP | -21% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,400 VND | 84,201 VND | +42% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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