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Bendigo and Adelaide Bank Limited (BXRBF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Bendigo and Adelaide Bank Limited $8.34, price $7.25, upside +15.0%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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BA
Some data
Sep 24, 2026
Some data
Sep 24, 2026
Bendigo and Adelaide Bank Limited
BXRBF · USUndervaluedThe stock appears undervalued with acceptable quality.
✓Fair value $8.34 · Undervalued (+15.0%)
!Quality 57/100
!Mixed Growth (revenue YoY +160.6 %/yr)
!Loss-making · -4.4% net margin (TTM)
✓Low debt · generates free cash flow
✓8.7% dividend yield · Cash covered
!Narrow moat 32/100
!Evidence only medium, so the estimate is less certain
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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
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
60‑month range $1.95 – $7.75 · fair‑value band $4.07 – $13.03 · the $7.25 price screens below the $8.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.
Company profile
Bendigo and Adelaide Bank Limited engages in the provision of banking and other financial services to retail customers and small to medium sized businesses in Australia. It operates through Consumer, Business and Agribusiness, and Corporate segments.
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Bendigo and Adelaide Bank Limited engages in the provision of banking and other financial services to retail customers and small to medium sized businesses in Australia. It operates through Consumer, Business and Agribusiness, and Corporate segments. The company offers transaction and savings account; term deposit; managed funds; share trading; margin lending; and private banking services. It also provides home and personal loans, as well as business loans, equipment finance, and foreign exchange; credit and debit cards; personal insurance; travel and holiday products; and financial advice services. In addition, the company offers EFTPOS and payment services, agribusiness solutions, and private banking; residential, business, rural and commercial lending; payments services, wealth management, margin lending, treasury, and foreign exchange services. It operates under the Bendigo Bank, Up, Leveraged, and Community Enterprise Foundation brands. The company was founded in 1858 and is headquartered in Bendigo, Australia.
Stock analysis
Bendigo and Adelaide Bank Limited (BXRBF) currently trades at $7.25, while our model-based Fair Value estimate is $8.34, implying the stock looks roughly 13.1% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of $6.63 per share, and 1 of the 3 models we run sit above the $7.25 price.
Bear case: the Asset-Based group reads lowest at $5.50, and 2 of the 3 models stay below the price. Evidence for this calculation is medium.
Scenario range: $4.07 (bear) to $13.03 (bull), the price of $7.25 sits inside 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 57/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bendigo and Adelaide Bank Limited reported revenue of A$5.3B in FY2025 versus A$2.1B in FY2021, a compound +25.6%/yr. Reported net income was −A$97.1M in FY2025.
Key figures
Market cap $4.1B · P/S ratio 2.21 · EPS (TTM) $−0.1100 · Dividend yield 8.7% · Net margin −1.8% · Return on equity −1.2% · Return on assets (EBIT) 0.6% · Operating margin 29.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at 15%, BXRBF screens cheaper than that median.
Fair Value models
Bear $4.07
Fair Value $8.34
Bull $13.03
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.
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
Gordon GGM
$3.85
$7.67
$11.61
67
DDM Multi-Stage
$3.85
$6.63
$8.09
67
NCAV (Graham)
$4.10
$5.50
$8.21
54
All 3 models by family
Dividend Discount
Gordon GGM
$3.85
$7.67
$11.61
67
DDM Multi-Stage
$3.85
$6.63
$8.09
67
Asset-Based
NCAV (Graham)
$4.10
$5.50
$8.21
54
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Set up alert →Quality Score breakdown
Overall quality
57/100
Of which business quality 53 · Market factors (momentum, volatility) 56
Profitability
8
Margins and returns on capital today
Quality Growth
42
Are margins and returns improving?
Cashflow
100
Earnings quality: real cash, not paper profit
Fin. Strength
4
Balance sheet, leverage, solvency risk
Investment
96
Disciplined investing over empire-building
Low Volatility
40
Calm price path (market factor)
Momentum
40
Price trend over the last 3–12 months (market factor)
52W Momentum
100
Distance to the 52-week high (market factor)
Net Issuance
100
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.
58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Profit margin (trend) ⓘ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.
15.4% (2020) → 2.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more 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).
−13.3%
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.
−31.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in AUD, Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about −15.8% a year for the price and −33.3% for the forecasts.
Forecast 2026 (sales)−36.9%
Forecast 2027 (sales)−36.9%
Projected 2028 (sales)−32.0%
Projected 2029 (sales)−27.2%
Projected 2030 (sales)−22.3%
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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 · 1053 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA 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 |
|---|---|---|---|
| DBS Group D05 | 78.00 SGD | 40.39 SGD | −48% |
| China Merchants Bank Co 600036 | ¥40.69 | ¥52.73 | +30% |
| UniCredit S.p.A UCG | €79.53 | €77.12 | −3% |
| Mizuho Financial Group MFG | $11.05 | $6.82 | −38% |
| Intesa Sanpaolo S.p.A ISP | €6.38 | €4.06 | −36% |
| BNP Paribas SA BNP | €91.54 | €105.99 | +16% |
| HDFC Bank Limited HDFCBANK | ₹721.20 | ₹406.44 | −44% |
| Oversea-Chinese Banking Corporation O39 | 32.01 SGD | 19.78 SGD | −38% |
| Al Rajhi Banking and Investment Corporation 1120 | 63.15 SAR | 36.95 SAR | −41% |
| CaixaBank, S.A CABK | €12.03 | €8.46 | −30% |
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Frequently asked questions
Is Bendigo and Adelaide Bank Limited (BXRBF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $8.34 versus a price of $7.25, about +15% upside (undervalued).
What is the fair value of BXRBF?
Our model-based fair value for Bendigo and Adelaide Bank Limited is $8.34 (as of Sep 24, 2026), built from audited fundamentals. The current price: $7.25.
What is the quality score of BXRBF?
Bendigo and Adelaide Bank Limited has a Quality Score of 57/100. 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 Bendigo and Adelaide Bank Limited (BXRBF)?
Our model-based price target is the fair value of $8.34 (as of Sep 24, 2026) from 3 valuation models. Cautious scenario $4.07, optimistic scenario $13.03. It is a calculation from audited fundamentals, not an analyst target.
What is the Bendigo and Adelaide Bank Limited stock forecast for 2026?
Our models put fair value at $8.34, about +15% upside versus a price of $7.25 (undervalued). Cautious scenario $4.07, optimistic scenario $13.03. The calculation is refreshed regularly with new filings.
What is the revenue of Bendigo and Adelaide Bank Limited (BXRBF)?
Bendigo and Adelaide Bank Limited reported trailing-twelve-month revenue of about A$1.9B (latest available figure, as of Sep 24, 2026).
Does Bendigo and Adelaide Bank Limited pay a dividend?
Bendigo and Adelaide Bank Limited currently shows a dividend yield of about 8.69% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Bendigo and Adelaide Bank Limited (BXRBF)?
For today's price to be fair in a discounted-cash-flow model, Bendigo and Adelaide Bank Limited would have to grow free cash flow by -13.3 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BXRBF use?
Our models discount Bendigo and Adelaide Bank Limited at 9.2 %: a base by market capitalisation (mid), damped by beta 0.76, country premium for USA. 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 Bendigo and Adelaide Bank Limited that is -13.3 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Bendigo and Adelaide Bank Limited (BXRBF) delivered so far?
Over the past 5 years revenue at Bendigo and Adelaide Bank Limited grew +15.7 % a year. The price currently implies -13.3 % 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 Bendigo and Adelaide Bank Limited (BXRBF) growing?
The median revenue growth in the sector is +9.3 % a year. That is the yardstick for the growth priced into Bendigo and Adelaide Bank Limited (-13.3 % 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 Bendigo and Adelaide Bank Limited (BXRBF)?
The free-cash-flow yield on the price is 28.48 %: that much free cash flow Bendigo and Adelaide Bank Limited produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bendigo and Adelaide Bank Limited (BXRBF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bendigo and Adelaide Bank Limited it is $8.34 per share (as of Sep 24, 2026), against a price of $7.25. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Bendigo and Adelaide Bank Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BXRBF trades below its calculated fair value: price $7.25, fair value $8.34, a gap of about +15% (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 BXRBF?
No. The price is what the market pays today ($7.25); the fair value is what the company's own numbers justify ($8.34). For Bendigo and Adelaide Bank Limited the two are $1.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bendigo and Adelaide Bank Limited worth?
The market values Bendigo and Adelaide Bank Limited at about $4.1B (market capitalisation, as of Sep 24, 2026). Per share that is $7.25; our models calculate a fair value of $8.34 per share.
What do the bullish and bearish scenarios say about BXRBF?
Our models span a range for Bendigo and Adelaide Bank Limited: cautious scenario $4.07, base $8.34, optimistic $13.03 per share (as of Sep 24, 2026, price $7.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of BXRBF?
The PEG ratio of Bendigo and Adelaide Bank Limited is 1.91 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Bendigo and Adelaide Bank Limited (BXRBF)?
Balance-sheet figures for Bendigo and Adelaide Bank Limited (as of Sep 24, 2026): return on equity −1.2%, debt of 0.23 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
Which stocks are comparable to Bendigo and Adelaide Bank Limited?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, 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 Bendigo and Adelaide Bank Limited stock attractive at the current price?
The data as of Sep 24, 2026: price $7.25, calculated fair value $8.34 (+15%), Quality Score 57/100, from 3 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 BXRBF calculated?
We run Bendigo and Adelaide Bank Limited through 3 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 $8.34, 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. Bendigo and Adelaide Bank Limited currently trades 13 % 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 Bendigo and Adelaide Bank Limited (BXRBF)?
The closing price on Oct 2, 2026 was $7.25. Our model-based fair value is $8.34, about +15% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bendigo and Adelaide Bank Limited right now?
The model range is unusually wide ($4.07 to $13.03). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Bendigo and Adelaide Bank Limited (BXRBF) come from?
Earnings per share at Bendigo and Adelaide Bank Limited grew −0.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.3 %, EBIT margin −3.3 %, tax rate −0.2 %, residual (interest, one-offs) −1.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bendigo and Adelaide Bank Limited
How large is the market capitalisation of Bendigo and Adelaide Bank Limited (BXRBF)?
The market capitalisation of Bendigo and Adelaide Bank Limited is $4.1B. 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 Bendigo and Adelaide Bank Limited (BXRBF)?
The price-to-sales ratio of Bendigo and Adelaide Bank Limited is 2.21 (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 Bendigo and Adelaide Bank Limited (BXRBF)?
Earnings per share at Bendigo and Adelaide Bank Limited are $−0.1100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bendigo and Adelaide Bank Limited (BXRBF)?
The dividend yield of Bendigo and Adelaide Bank Limited is 8.7%. 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 Bendigo and Adelaide Bank Limited (BXRBF)?
The net margin of Bendigo and Adelaide Bank Limited is −1.8% (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 Bendigo and Adelaide Bank Limited (BXRBF)?
The return on equity (ROE) of Bendigo and Adelaide Bank Limited is −1.2% (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 Bendigo and Adelaide Bank Limited (BXRBF)?
On an EBIT basis the return on assets of Bendigo and Adelaide Bank Limited is 0.6% (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 Bendigo and Adelaide Bank Limited (BXRBF)?
The operating margin of Bendigo and Adelaide Bank Limited is 29.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at Bendigo and Adelaide Bank Limited (BXRBF)?
Earnings per share at Bendigo and Adelaide Bank Limited are growing +5.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bendigo and Adelaide Bank Limited (BXRBF) carry?
The net debt of Bendigo and Adelaide Bank Limited is A$10.3B (fiscal year 2025, ≈ 6.1 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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