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BNP Paribas SA (BNP) Fair Value & Analysis

Financial Services · FR · Market cap €113B

BP BNP Paribas SA BNP · PA
Price€112.60
Fair Value€144.46
Upside+28.3%
Quality64/100
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Mixed Growth
Highly profitable · 25.5% net margin
High debt · generates free cash flow
5.11% dividend yield
Mixed vs. peers (8/15)
Wide moat 65/100
Evidence: High Range €108.35 – €180.58 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Share price +10.6% over the past month.

A solid business, screening 28% undervalued on our models.

What matters now

  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

€112.60 €31.77 Fair Value €144.46 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range €31.77 – €112.60 · fair‑value band €108.35 – €180.58 · the €112.60 price screens below the €144.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

BNP Paribas SA (BNP) currently trades at €112.60, while our model-based Fair Value estimate is €144.46, implying the stock looks roughly 28.3% undervalued today. We read business quality at 64/100 (solid 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, BNP Paribas SA generated revenue of €49.1B at a net margin of 25.5%. Revenue grew 9.3% year over year. It earns a return on equity of 9.6%. Net debt stands at €482B. Fundamentals as of Jul 15, 2026

Our scenario range runs from €108.35 (bear case) to €180.58 (bull case); at €112.60, 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 near its 52-week high and 78% 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 28%, BNP 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €211.75 €314.08 €485.44 80
Residual Income €99.48 €110.23 €172.79 76
Rev-Margin DCF €210.42 €313.46 €444.77 74
All 26 models by family
DCF Models
FCF DCF €212.36 €322.54 €511.25 38
Owner Earnings €271.45 €427.56 €694.94 31
5Y Revenue Exit €210.42 €316.06 €458.80 39
5Y EBITDA Exit €254.74 €406.37 €596.02 41
5Y P/E Exit €220.01 €335.60 €466.45 38
10Y Revenue Exit €205.10 €305.34 €457.23 36
10Y EBITDA Exit €239.11 €371.09 €570.81 37
10Y P/E Exit €216.19 €319.57 €463.56 35
Earnings-Based
Graham-Dodd €75.57 €336.40 €460.82 54
Lynch FV €87.36 €124.79 €162.23 50
PEG = 1.0 €87.36 €124.79 €162.23 46
EPV €181.92 €200.48 €216.71 59
Dividend Discount
Gordon GGM €24.13 €50.17 €79.59 70
DDM Multi-Stage €24.13 €42.30 €52.65 61
Multiples
P/E Multiple €166.69 €222.25 €277.82 63
P/S Multiple €141.69 €188.91 €236.14 58
P/B Multiple €141.69 €188.91 €236.14 55
EV/EBIT €280.03 €349.83 €419.64 53
EV/EBITDA €293.24 €367.46 €441.67 54
EV/Revenue €211.77 €272.27 €332.77 43
Asset-Based
NCAV (Graham) €57.05 €76.44 €114.09 50
Growth DCF
Growth DCF €211.75 €314.08 €485.44 80
Rev-Margin DCF €210.42 €313.46 €444.77 74
Economic Profit
Residual Income €99.48 €110.23 €172.79 76
ROIC Compounder €195.81 €235.66 €285.31 72
Growth Earnings
Growth-Adj P/E €139.10 €198.72 €258.34 68

Widest divergence: DCF Models (€322.54) versus Dividend Discount (€42.30). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €49.1B
Revenue growth (YoY) +9.3%
Net margin 25.5%
Return on equity 9.6%
Free cash flow €12.3B FY2025
P/E ratio 9.6
More key figures
Operating margin 35.6%
EPS (TTM) €10.61
Dividend yield 5.1%
EPS growth (YoY) +12.0%
Net debt €482B FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 54 · Market factors (momentum, volatility) 78

Profitability 24
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 95
Distance to the 52-week high (market factor)
Net Issuance 96
Buybacks instead of dilution

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

BNP Paribas SA provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through three divisions: Corporate & Institutional Banking; Commercial, Personal Banking & Services; and Investment & Protection Services.

Full company description

BNP Paribas SA provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through three divisions: Corporate & Institutional Banking; Commercial, Personal Banking & Services; and Investment & Protection Services. The Corporate & Institutional Banking division offers capital market, securities, financing, risk management, securities clearing, custody, consulting, transaction banking, cash management, investment banking, and financial advisory services for corporate and institutional clients. Its Commercial, Personal Banking & Services division provides financing and equipment leasing services, lending, investment, financial and non-financial services, mobility, and digital banking services, as well as current accounts, savings products, bancassurance, insurance products and services, and consumer loans. The Investment & Protection Services division provides protection, savings, investment, and real estate services to support individuals, professionals, corporate clients, and institutions, as well as asset management, insurance, protection, pensions, and private banking services. The company was formerly known as Banque Nationale de Paris and changed its name to BNP Paribas SA in May 2000. BNP Paribas SA was founded in 1822 and is headquartered in Paris, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BNP Paribas SA reported revenue of €119B in FY2025 versus €108B in FY2021, a compound +2.5%/yr. Reported net income was €12.2B in FY2025, compounding +6.5%/yr from FY2021.

Growth Quality 69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€119B
Avg. growth/yr (3Y)
+8.0%
Avg. growth/yr (5Y)
+6.4%
Avg. growth/yr (22Y)
+8.5%
Revenue +2.5%/yr
FY21 €108B
FY22 €94.6B
FY23 €138B
FY24 €45.7B
FY25 €119B
Net income +6.5%/yr
FY21 €9.5B
FY22 €10.2B
FY23 €11.4B
FY24 €11.7B
FY25 €12.2B

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Cite: Fair Value Calculator (2026). "BNP Paribas SA Fair Value". https://www.fairvalue-calculator.com/stock/BNP

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Banks - Regional · 1082 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.

Quality Score 67 · Top 25%
Fair Value upside +28% · Above median
Return on equity (TTM) 10% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 25% · Below median
Operating margin (TTM) 36% · Below median
Revenue growth 9% · Above median
Dividend yield (TTM) 5.1% · Top 25%
Debt / equity 1.99× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 9.6× · Cheaper than median
P/B 1.04× · Cheaper than median
P/S (TTM) 2.65× · Cheaper than median
P/FCF 10.6× · Pricier than median
EV/EBITDA 2.8× · Cheaper than 75% of peers
PEG 3.13× · Pricier than 75% of peers

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.

VALUE 71 · sector 39
FUTURE 47 · sector 44
PAST 38 · sector 41
HEALTH 1 · sector 85
DIVIDEND 100 · sector 49

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

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 15, 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

Is BNP Paribas SA (BNP) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of €144.46 versus a price of €112.60, about +28% (undervalued).
What is the fair value of BNP?
Our model-based fair value for BNP Paribas SA is €144.46 (as of Jul 15, 2026), built from audited fundamentals. The current price is €112.60.
What is the quality score of BNP?
BNP Paribas SA has a Quality Score of 64/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of BNP Paribas SA (BNP)?
BNP Paribas SA reported trailing-twelve-month revenue of about €49.1B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of BNP?
The net profit margin of BNP Paribas SA is about 25.5%, meaning it keeps roughly 25.5% of revenue as net income. Based on the latest reported figures.
Does BNP Paribas SA pay a dividend?
BNP Paribas SA currently shows a dividend yield of about 5.62% relative to its recent price (as of Jul 15, 2026).

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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