Banco Santander (Brasil) S.A (BSBR) Fair Value & Analysis
Financial Services · AR · Market cap 575B ARS
Fair value as of: Jul 26, 2026
From 4 valuation models · updated 15 days ago
Share price +1.0% over the past month.
Below-average quality, screening 100% undervalued on our models.
What matters now
- The price is below even our cautious bear case (12,090 ARS). The market is more pessimistic than our downside scenario.
- Solid quality (47/100) 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range 904.01 ARS – 10,720 ARS · fair‑value band 12,090 ARS – 20,150 ARS · the 8,060 ARS price screens below the 16,120 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Banco Santander (Brasil) S.A (BSBR) currently trades at 8,060 ARS, while our model-based Fair Value estimate is 16,120 ARS, implying the stock looks roughly 100.0% undervalued today. The Quality Score stands at 47/100 (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, Banco Santander (Brasil) S.A generated revenue of 45.7B ARS at a net margin of 28.2%. Revenue grew 0.4% year over year. It earns a return on equity of 10.5%. Net debt stands at 31.6B ARS. Fundamentals as of Jul 26, 2026
Our scenario range runs from 12,090 ARS (bear case) to 20,150 ARS (bull case); at 8,060 ARS, the current price sits below 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 27% below its 52-week high and 35% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 100%, BSBR screens cheaper 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 4 models by family
Widest divergence: Multiples (2,327 ARS) versus Asset-Based (1,176 ARS). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 54
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
Banco Santander (Brasil) S.A., together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. It operates in two segments, Commercial Banking and Global Wholesale Banking.
Full company description
Banco Santander (Brasil) S.A., together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. It operates in two segments, Commercial Banking and Global Wholesale Banking. The company offers payment and loyalty products, including credit and debit cards; payroll and real estate loans; home equity financing solutions; microfinance programs; consortiums; agribusiness products, such as credit, securities and other products; call center and digital solutions; nonperforming assets; and insurance products comprising life, personal accident, vehicle, property, and credit insurance, as well as insurance for travel and banking transactions. It also provides emergency solutions for homes, cars, motorcycles, pets, and telemedicine; consumer finance; and corporate and investment banking services, which include cash management, structured trade and working capital solutions, trade and lending, mergers and acquisitions, equity capital markets, investment grade and emerging markets debt, and structured finance, as well as sales markets, market making, energy trading, equities, research, and private debt mobilization and securitization. In addition, the company offers cash management solutions, such as collections, payments, instant payments, and payroll and custody services; advance program, a non-financial platform to support entrepreneurs regarding educational content, certified courses, events focused on management, innovation, internationalization, and team development; customer funding through deposits and other bank funding instruments; and various investments. It offers its products and services through branches, mini-branches, and automated teller machines; call centers; banking correspondents and third-party vendors; and online and mobile banking platforms. The company was founded in 1970 and is headquartered in São Paulo, Brazil.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Banco Santander (Brasil) S.A reported revenue of 46.7B ARS in FY2025 versus 48.7B ARS in FY2021, a compound −1.1%/yr. Reported net income was 12.8B ARS in FY2025, compounding −4.8%/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.
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 26, 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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