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Banco Bilbao Vizcaya Argentaria, S.A (BILB34) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Banco Bilbao Vizcaya Argentaria, S.A BRL 75.42, price BRL 139, upside -45.9%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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BB
Broad data
Sep 29, 2026
Banco Bilbao Vizcaya Argentaria, S.A
BILB34 · SAStretched ValuationStrong overvaluation with only moderate quality.
!Fair value R$75.42 · Strongly overvalued (−45.9%)
✓Quality 64/100
✓Healthy Growth (revenue 3y +9.6 %/yr)
✓Highly profitable · 33.1% net margin (TTM)
!High debt · generates free cash flow
✓0.7% dividend yield · Well covered
✓Wide moat 74/100
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
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range R$17.81 – R$151.50 · fair‑value band R$60.54 – R$104.35 · the R$139.44 price screens above the R$75.42 fair value. Dashed = 300-day average. As of Sep 29, 2026.
Company profile
Banco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides various financial services in Spain, Mexico, Turkey, South America, Europe, the United States, and Asia. The company offers traditional retail, wholesale, investment, and transaction banking.
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Banco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides various financial services in Spain, Mexico, Turkey, South America, Europe, the United States, and Asia. The company offers traditional retail, wholesale, investment, and transaction banking. It also engages in financial, insurance, asset management, and capital markets businesses, as well as digital banking. The company was formerly known as Banco Bilbao Vizcaya, S.A. and changed its name to Banco Bilbao Vizcaya Argentaria, S.A. in January 2000. Banco Bilbao Vizcaya Argentaria, S.A. was founded in 1857 and is headquartered in Bilbao, Spain.
Stock analysis
Banco Bilbao Vizcaya Argentaria, S.A (BILB34) currently trades at R$139.44, while our model-based Fair Value estimate is R$75.42, 45.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of R$89.07 per share, and 1 of the 6 models we run sit above the R$139.44 price.
Bear case: the Asset-Based group reads lowest at R$40.74, and 5 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: R$60.54 (bear) to R$104.35 (bull), the price of R$139.44 sits above 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 64/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Banco Bilbao Vizcaya Argentaria, S.A reported revenue of €36.9B in FY2025 versus €28.1B in FY2022, a compound +9.6%/yr. Reported net income was €10.5B in FY2025, compounding +18.2%/yr from FY2022.
Key figures
Market cap R$794B (≈ $152B) · P/E ratio 13.0 · P/S ratio 3.69 · EPS (TTM) R$10.75 · Dividend yield 0.7% · Net margin 28.5% · Return on equity 19.0% · Return on assets 1.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at −46%, BILB34 screens richer than that median.
Fair Value models
Bear R$60.54
Fair Value R$75.42
Bull R$104.35
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (R$7.43 per share) are deliberately not added.
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.
Evidence ⓘEvidence = 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.
Highest evidence
Residual Income
R$70.50
R$89.07
R$136.88
71
Gordon GGM
R$40.85
R$84.93
R$134.74
63
DDM Multi-Stage
R$40.85
R$66.44
R$89.14
63
All 6 models by family
Dividend Discount
Gordon GGM
R$40.85
R$84.93
R$134.74
63
DDM Multi-Stage
R$40.85
R$66.44
R$89.14
63
Multiples
P/E Multiple
R$108.67
R$144.89
R$181.11
63
P/B Multiple
R$63.85
R$85.14
R$106.42
55
Asset-Based
NCAV (Graham)
R$30.41
R$40.74
R$60.81
54
Economic Profit
Residual Income
R$70.50
R$89.07
R$136.88
71
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Set up alert →Quality Score breakdown
Overall quality
64/100
Of which business quality 62 · Market factors (momentum, volatility) 75
Profitability
48
Margins and returns on capital today
Quality Growth
43
Are margins and returns improving?
Cashflow
88
Earnings quality: real cash, not paper profit
Fin. Strength
36
Balance sheet, leverage, solvency risk
Investment
72
Disciplined investing over empire-building
Low Volatility
67
Calm price path (market factor)
Momentum
78
Price trend over the last 3–12 months (market factor)
52W Momentum
81
Distance to the 52-week high (market factor)
Net Issuance
96
Share count: buybacks or dilution?
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.
90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.1%
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.
+9.6%
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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.
+15.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.0%
Dividend (yield on the price)0.7%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −1.2% a year for the price and +3.5% for the forecasts.
Forecast 2026 (sales)+13.1%
Forecast 2027 (sales)+4.4%
Projected 2028 (sales)+4.1%
Projected 2029 (sales)+3.8%
Projected 2030 (sales)+3.5%
BILB34 screens overvalued: fair value 46% below the price. Compare with JPMorgan Chase & Co →
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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
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| Bank of China Limited 601988 | ¥6.62 | ¥9.86 | +49% |
| Royal Bank of Canada RY | $200.95 | $130.85 | −35% |
| Mitsubishi UFJ Financial Group MUFG | $23.37 | $14.86 | −36% |
| Wells Fargo & Company WFC | $80.05 | $66.44 | −17% |
| Citigroup Inc C | $130.80 | $107.10 | −18% |
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Frequently asked questions
Is Banco Bilbao Vizcaya Argentaria, S.A (BILB34) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of R$75.42 versus a price of R$139.44, about −46% upside (overvalued).
What is the fair value of BILB34?
Our model-based fair value for Banco Bilbao Vizcaya Argentaria, S.A is R$75.42 (as of Sep 29, 2026), built from audited fundamentals. The current price: R$139.44.
What is the quality score of BILB34?
Banco Bilbao Vizcaya Argentaria, S.A has a Quality Score of 64/100. 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 Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
Our model-based price target is the fair value of R$75.42 (as of Sep 29, 2026) from 6 valuation models. Cautious scenario R$60.54, optimistic scenario R$104.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Banco Bilbao Vizcaya Argentaria, S.A stock forecast for 2026?
Our models put fair value at R$75.42, about −46% upside versus a price of R$139.44 (overvalued). Cautious scenario R$60.54, optimistic scenario R$104.35. The calculation is refreshed regularly with new filings.
What is the revenue of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
Banco Bilbao Vizcaya Argentaria, S.A reported trailing-twelve-month revenue of about €32.6B (latest available figure, as of Sep 29, 2026).
Does Banco Bilbao Vizcaya Argentaria, S.A pay a dividend?
Banco Bilbao Vizcaya Argentaria, S.A currently shows a dividend yield of about 0.66% relative to its recent price (as of Sep 29, 2026).
What growth is priced into Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
For today's price to be fair in a discounted-cash-flow model, Banco Bilbao Vizcaya Argentaria, S.A would have to grow free cash flow by +1.0 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +9.6 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of BILB34 use?
Our models discount Banco Bilbao Vizcaya Argentaria, S.A at 11.9 %: a base by market capitalisation (large), damped by beta 0.88, country premium for Brazil. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Banco Bilbao Vizcaya Argentaria, S.A that is +1.0 % per year a year over ten years, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has Banco Bilbao Vizcaya Argentaria, S.A (BILB34) delivered so far?
Over the past 3 years revenue at Banco Bilbao Vizcaya Argentaria, S.A grew +9.6 % a year. The price currently implies +1.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Banco Bilbao Vizcaya Argentaria, S.A (BILB34) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Banco Bilbao Vizcaya Argentaria, S.A (+1.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The free-cash-flow yield on the price is 9.75 %: that much free cash flow Banco Bilbao Vizcaya Argentaria, S.A produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Banco Bilbao Vizcaya Argentaria, S.A it is R$75.42 per share (as of Sep 29, 2026), against a price of R$139.44. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Banco Bilbao Vizcaya Argentaria, S.A stock overvalued or undervalued in 2026?
As of Sep 29, 2026, BILB34 trades above its calculated fair value: price R$139.44, fair value R$75.42, a gap of about −46% (overvalued). 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 BILB34?
No. The price is what the market pays today (R$139.44); the fair value is what the company's own numbers justify (R$75.42). For Banco Bilbao Vizcaya Argentaria, S.A the two are R$64.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Banco Bilbao Vizcaya Argentaria, S.A worth?
The market values Banco Bilbao Vizcaya Argentaria, S.A at about R$794B (market capitalisation, as of Sep 29, 2026). Per share that is R$139.44; our models calculate a fair value of R$75.42 per share.
What do the bullish and bearish scenarios say about BILB34?
Our models span a range for Banco Bilbao Vizcaya Argentaria, S.A: cautious scenario R$60.54, base R$75.42, optimistic R$104.35 per share (as of Sep 29, 2026, price R$139.44). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is BILB34 from its 52-week high?
Banco Bilbao Vizcaya Argentaria, S.A trades at R$139.44, about 8% below its 52-week high of R$151.50 and 46% above the low of R$95.30 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$75.42 is for.
Which stocks are comparable to Banco Bilbao Vizcaya Argentaria, S.A?
From the same area (Financial Services) we also value JPMorgan Chase & Co, Industrial and Commercial Bank of China Limited, China Construction Bank Corporation, Bank of America Corporation, 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 Banco Bilbao Vizcaya Argentaria, S.A stock attractive at the current price?
The data as of Sep 29, 2026: price R$139.44, calculated fair value R$75.42 (−46%), Quality Score 64/100, 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 BILB34 calculated?
We run Banco Bilbao Vizcaya Argentaria, S.A through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$75.42, 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 14.5 % above its aggregate fair value. Banco Bilbao Vizcaya Argentaria, S.A itself currently trades above fair value. 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 Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The closing price on Oct 2, 2026 was R$139.44. Our model-based fair value is R$75.42, about −46% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Banco Bilbao Vizcaya Argentaria, S.A right now?
The price sits above even our optimistic bull case (R$104.35). The favourable scenario is already priced in. Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Banco Bilbao Vizcaya Argentaria, S.A
How large is the market capitalisation of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The market capitalisation of Banco Bilbao Vizcaya Argentaria, S.A is R$794B (≈ $152B). 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/E ratio of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The price-to-earnings ratio of Banco Bilbao Vizcaya Argentaria, S.A is 13.0. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The price-to-sales ratio of Banco Bilbao Vizcaya Argentaria, S.A is 3.69 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
Earnings per share at Banco Bilbao Vizcaya Argentaria, S.A are R$10.75 (price ÷ EPS = P/E 13.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The dividend yield of Banco Bilbao Vizcaya Argentaria, S.A is 0.7% (payout 8.6%). 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 Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The net margin of Banco Bilbao Vizcaya Argentaria, S.A is 28.5% (fiscal year 2025). 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 Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The return on equity (ROE) of Banco Bilbao Vizcaya Argentaria, S.A is 19.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The return on assets (ROA) of Banco Bilbao Vizcaya Argentaria, S.A is 1.4% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
The operating margin of Banco Bilbao Vizcaya Argentaria, S.A is 54.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
Revenue at Banco Bilbao Vizcaya Argentaria, S.A is growing +11.9% versus a year earlier (3y avg +9.6%). 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 Banco Bilbao Vizcaya Argentaria, S.A (BILB34)?
Earnings per share at Banco Bilbao Vizcaya Argentaria, S.A are growing +13.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Banco Bilbao Vizcaya Argentaria, S.A (BILB34) carry?
The net debt of Banco Bilbao Vizcaya Argentaria, S.A is €18.0B (fiscal year 2025, ≈ 1.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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