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Patria Bank SA (PBK) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Patria Bank SA RON 0.20, price RON 0.14, upside +39.3%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · RO · ISIN ROBACRACNOR6

PB Thin data Sep 24, 2026

Patria Bank SA

PBK · RO

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value 0.1950 RON · Undervalued (+39%)
!Quality 61/100
✓Healthy Growth (revenue 5y +10.8 %/yr)
✓Solidly profitable · 19.2% net margin (TTM)
✓generates free cash flow
✓Ranks above peers (7/11)
!Moderate moat 60/100
!Evidence only low, so the estimate is less certain
!Weak on future: 22 out of 100
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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

0.1600 RON 0.0720 RON Fair Value 0.1950 RON Jan 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 0.0720 RON – 0.1600 RON · fair‑value band 0.1450 RON – 0.2450 RON · the 0.1400 RON price screens below the 0.1950 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Patria Bank SA, a credit institution, provides banking and other financial services to individual, small and medium enterprises, agribusinesses, and corporate customers in Romania. The company operates through: Retail, SME and Corporate; Agro; and Micro-enterprises segment.

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Patria Bank SA, a credit institution, provides banking and other financial services to individual, small and medium enterprises, agribusinesses, and corporate customers in Romania. The company operates through: Retail, SME and Corporate; Agro; and Micro-enterprises segment. The company offers saving, demand, term, collateral, current, and sight deposits; working capital and VAT financing credit line, investment loans, company development, SME loans, umbrella, general expense, bridge loans, medium term financing, bank guarantees, factoring, and letters of credit; and personal loans, home mortgage loans, refinancing investment loans, real estate mortgages, and overdrafts, as well as debit and credit cards. It offers deposit and current accounts, domestic and international payments, foreign exchange transactions, working capital loans, medium term lending, bank guarantees, and letters of credit. The company was formerly known as Nextebank SA and changed its name to Patria Bank SA in 2016. Patria Bank SA was founded in 1993 and is headquartered in Bucharest, Romania. Patria Bank SA operates as a subsidiary of EEAF Financial Services B.V.

Stock analysis

Patria Bank SA (PBK) currently trades at 0.1400 RON, while our model-based Fair Value estimate is 0.1950 RON, implying the stock looks roughly 28.2% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 0.2100 RON per share, and 2 of the 4 models we run sit above the 0.1400 RON price.

Bear case: the Asset-Based group reads lowest at 0.1000 RON, and 2 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: 0.1450 RON (bear) to 0.2450 RON (bull), the price of 0.1400 RON sits below 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 61/100 (solid quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Patria Bank SA reported revenue of 277M RON in FY2025 versus 177M RON in FY2021, a compound +11.9%/yr. Reported net income was 51.4M RON in FY2025, compounding +51.0%/yr from FY2021.

Key figures

Market cap 453M RON (≈ $97.9M) · P/E ratio 7.0 · P/S ratio 1.30 · EPS (TTM) 0.0200 RON · Net margin 18.5% · Return on equity 11.1% · Return on assets 1.0% · Operating margin 21.8%.

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 13% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at 39%, PBK screens cheaper than that median.

Fair Value models

Bear 0.1450 RON Fair Value 0.1950 RON Bull 0.2450 RON
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 12 months old). Earnings retained since then (0.0197 RON 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. 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 0.1200 RON 0.1300 RON 0.1500 RON 71
P/E Multiple 0.1500 RON 0.2100 RON 0.2600 RON 63
P/B Multiple 0.1600 RON 0.2100 RON 0.2600 RON 55
All 4 models by family
Multiples
P/E Multiple 0.1500 RON 0.2100 RON 0.2600 RON 63
P/B Multiple 0.1600 RON 0.2100 RON 0.2600 RON 55
Asset-Based
NCAV (Graham) 0.0700 RON 0.1000 RON 0.1500 RON 51
Economic Profit
Residual Income 0.1200 RON 0.1300 RON 0.1500 RON 71

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Quality Score breakdown

Overall quality 61/100

Of which business quality 58 · Market factors (momentum, volatility) 74

Profitability 37
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 90
Share count: buybacks or dilution?

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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. 88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+15.1%
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.
+9.9%
Revenue growth 5 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.
+10.8%
Start year 2020 (pandemic)
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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 5 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+54.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+54.2%
Dividend (yield on the price)0.0%
2025 sits 104% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

Growth Forecast

Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.

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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 · 1074 stocks

Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 61 · Top 25%
Fair Value upside +39% · Top 25%
Profitability
Return on equity (TTM) 11% · Above median
Return on assets 1% · Below median
Net margin (TTM) 19% · Bottom 25%
Operating margin (TTM) 22% · Bottom 25%
Growth and dividend
Revenue growth 4% · Below median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 7.0× · Cheapest 25%
P/B 0.20× · Cheapest 25%
P/S (TTM) 0.37× · Cheapest 25%
P/FCF 2.3× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)86 · sector 11
FUTURE (revenue growth)22 · sector 45
PAST (return on equity)44 · sector 41
HEALTH (low debt)0 · sector 85
DIVIDEND (yield)0 · sector 53

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

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 77.69 SGD 40.48 SGD −48%
China Merchants Bank Co 3968 HK$51.25 HK$62.30 +22%
Intesa Sanpaolo S.p.A ISP €6.73 €4.04 −40%
HDFC Bank Limited HDFCBANK ₹737.25 ₹406.85 −45%
BNP Paribas SA BNP €101.30 €105.99 +5%
UniCredit S.p.A UCG €83.28 €77.62 −7%
Mizuho Financial Group MFG $10.87 $6.75 −38%
ICICI Bank Limited ICICIBANK ₹1,340 ₹616.16 −54%
The PNC Financial Services Group PNC $227.96 $159.52 −30%
Oversea-Chinese Banking Corporation O39 32.14 SGD 19.80 SGD −38%

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0.1950 RON +28%Fair Value
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Cite: Fair Value Calculator (2026). "Patria Bank SA Fair Value". https://www.fairvalue-calculator.com/stock/PBK

Frequently asked questions

Is Patria Bank SA (PBK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.1950 RON versus a price of 0.1400 RON, about +39% upside (undervalued).
What is the fair value of PBK?
Our model-based fair value for Patria Bank SA is 0.1950 RON (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.1400 RON.
What is the quality score of PBK?
Patria Bank SA has a Quality Score of 61/100. 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 Patria Bank SA (PBK)?
Our model-based price target is the fair value of 0.1950 RON (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 0.1450 RON, optimistic scenario 0.2450 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the Patria Bank SA stock forecast for 2026?
Our models put fair value at 0.1950 RON, about +39% upside versus a price of 0.1400 RON (undervalued). Cautious scenario 0.1450 RON, optimistic scenario 0.2450 RON. The calculation is refreshed regularly with new filings.
What is the revenue of Patria Bank SA (PBK)?
Patria Bank SA reported trailing-twelve-month revenue of about 265M RON (latest available figure, as of Sep 24, 2026).
What growth is priced into Patria Bank SA (PBK)?
For today's price to be fair in a discounted-cash-flow model, Patria Bank SA would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PBK use?
Our models discount Patria Bank SA at 13.9 %: a base by market capitalisation (micro), damped by beta 0.38, country premium for Romania. 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 Patria Bank SA that is less than minus 40 % per year a year over ten years, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Patria Bank SA (PBK) delivered so far?
Over the past 5 years revenue at Patria Bank SA grew +10.8 % a year. The price currently implies less than minus 40 % 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 Patria Bank SA (PBK) growing?
The median revenue growth in the sector is +8.5 % a year. That is the yardstick for the growth priced into Patria Bank SA (less than minus 40 % 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 Patria Bank SA (PBK)?
The free-cash-flow yield on the price is 9.59 %: that much free cash flow Patria Bank SA produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Patria Bank SA (PBK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Patria Bank SA it is 0.1950 RON per share (as of Sep 24, 2026), against a price of 0.1400 RON. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Patria Bank SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PBK trades below its calculated fair value: price 0.1400 RON, fair value 0.1950 RON, a gap of about +39% (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 PBK?
No. The price is what the market pays today (0.1400 RON); the fair value is what the company's own numbers justify (0.1950 RON). For Patria Bank SA the two are 0.0550 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is Patria Bank SA worth?
The market values Patria Bank SA at about 453M RON (market capitalisation, as of Sep 24, 2026). Per share that is 0.1400 RON; our models calculate a fair value of 0.1950 RON per share.
What do the bullish and bearish scenarios say about PBK?
Our models span a range for Patria Bank SA: cautious scenario 0.1450 RON, base 0.1950 RON, optimistic 0.2450 RON per share (as of Sep 24, 2026, price 0.1400 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PBK?
Patria Bank SA trades at a price-to-earnings ratio of 7.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.1950 RON is built from several models across several years. Other multiples: P/B 0.2, P/S 0.4.
How solid is the balance sheet of Patria Bank SA (PBK)?
Balance-sheet figures for Patria Bank SA (as of Sep 24, 2026): return on equity 11.1%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is PBK from its 52-week high?
Patria Bank SA trades at 0.1400 RON, about 13% below its 52-week high of 0.1600 RON and 39% above the low of 0.1010 RON (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1950 RON is for.
Which stocks are comparable to Patria Bank SA?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Patria Bank SA stock attractive at the current price?
The data as of Sep 24, 2026: price 0.1400 RON, calculated fair value 0.1950 RON (+39%), Quality Score 61/100, from 4 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 PBK calculated?
We run Patria Bank SA through 4 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 0.1950 RON, 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 14.1 % above its aggregate fair value. Patria Bank SA currently trades 39 % 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 Patria Bank SA (PBK)?
The closing price on Sep 23, 2026 was 0.1400 RON. Our model-based fair value is 0.1950 RON, about +39% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Patria Bank SA right now?
The price is below even our cautious bear case (0.1450 RON). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (61/100) 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.

Key figures of Patria Bank SA

How large is the market capitalisation of Patria Bank SA (PBK)?
The market capitalisation of Patria Bank SA is 453M RON (≈ $97.9M). 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 Patria Bank SA (PBK)?
The price-to-sales ratio of Patria Bank SA is 1.30 (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 Patria Bank SA (PBK)?
Earnings per share at Patria Bank SA are 0.0200 RON (price ÷ EPS = P/E 7.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Patria Bank SA (PBK)?
The net margin of Patria Bank SA is 18.5% (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 Patria Bank SA (PBK)?
The return on equity (ROE) of Patria Bank SA is 11.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Patria Bank SA (PBK)?
The return on assets (ROA) of Patria Bank SA is 1.0% (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 Patria Bank SA (PBK)?
The operating margin of Patria Bank SA is 21.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Patria Bank SA (PBK)?
Revenue at Patria Bank SA is growing +4.4% versus a year earlier (3y avg +9.9%). 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 Patria Bank SA (PBK)?
Earnings per share at Patria Bank SA are growing −3.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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