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KBC GROUP NV (KBC.BR) Stock Fundamental Analysis

EBR:KBC - Euronext Brussels - BE0003565737 - Common Stock - Currency: EUR

84.26  +0.48 (+0.57%)

Fundamental Rating

2

KBC gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 99 industry peers in the Banks industry. KBC may be in some trouble as it scores bad on both profitability and health. KBC does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year KBC was profitable.
KBC had a negative operating cash flow in the past year.
Each year in the past 5 years KBC has been profitable.
The reported operating cash flow has been mixed in the past 5 years: KBC reported negative operating cash flow in multiple years.
KBC.BR Yearly Net Income VS EBIT VS OCF VS FCFKBC.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B -10B 20B -20B

1.2 Ratios

KBC has a Return On Assets (0.82%) which is comparable to the rest of the industry.
KBC has a Return On Equity of 12.41%. This is in the better half of the industry: KBC outperforms 63.64% of its industry peers.
Industry RankSector Rank
ROA 0.82%
ROE 12.41%
ROIC N/A
ROA(3y)0.88%
ROA(5y)0.76%
ROE(3y)13.38%
ROE(5y)11.54%
ROIC(3y)N/A
ROIC(5y)N/A
KBC.BR Yearly ROA, ROE, ROICKBC.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

The Profit Margin of KBC (22.62%) is comparable to the rest of the industry.
KBC's Profit Margin has improved in the last couple of years.
KBC does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 22.62%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.07%
PM growth 5Y2.31%
GM growth 3YN/A
GM growth 5YN/A
KBC.BR Yearly Profit, Operating, Gross MarginsKBC.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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1

2. Health

2.1 Basic Checks

KBC does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, KBC has less shares outstanding
Compared to 5 years ago, KBC has less shares outstanding
The debt/assets ratio for KBC is higher compared to a year ago.
KBC.BR Yearly Shares OutstandingKBC.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
KBC.BR Yearly Total Debt VS Total AssetsKBC.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100B 200B 300B

2.2 Solvency

KBC has a Debt/Equity ratio of 1.64. This is a high value indicating a heavy dependency on external financing.
KBC has a Debt to Equity ratio (1.64) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 1.64
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC22.22%
KBC.BR Yearly LT Debt VS Equity VS FCFKBC.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B -10B 20B -20B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
KBC.BR Yearly Current Assets VS Current LiabilitesKBC.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

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3

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 3.61% over the past year.
KBC shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.34% yearly.
Looking at the last year, KBC shows a small growth in Revenue. The Revenue has grown by 1.28% in the last year.
KBC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.07% yearly.
EPS 1Y (TTM)3.61%
EPS 3Y10.6%
EPS 5Y7.34%
EPS Q2Q%72.96%
Revenue 1Y (TTM)1.28%
Revenue growth 3Y6.91%
Revenue growth 5Y4.07%
Sales Q2Q%7.07%

3.2 Future

KBC is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.73% yearly.
KBC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.28% yearly.
EPS Next Y-3.54%
EPS Next 2Y2.66%
EPS Next 3Y4.86%
EPS Next 5Y-0.73%
Revenue Next Year6.1%
Revenue Next 2Y5.73%
Revenue Next 3Y5.49%
Revenue Next 5Y5.28%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
KBC.BR Yearly Revenue VS EstimatesKBC.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2B 4B 6B 8B 10B
KBC.BR Yearly EPS VS EstimatesKBC.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 10.13, which indicates a very decent valuation of KBC.
The rest of the industry has a similar Price/Earnings ratio as KBC.
When comparing the Price/Earnings ratio of KBC to the average of the S&P500 Index (28.90), we can say KBC is valued rather cheaply.
KBC is valuated reasonably with a Price/Forward Earnings ratio of 10.50.
KBC's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.58, KBC is valued rather cheaply.
Industry RankSector Rank
PE 10.13
Fwd PE 10.5
KBC.BR Price Earnings VS Forward Price EarningsKBC.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
KBC.BR Per share dataKBC.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)1.38
EPS Next 2Y2.66%
EPS Next 3Y4.86%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.47%, KBC has a reasonable but not impressive dividend return.
KBC's Dividend Yield is slightly below the industry average, which is at 5.11.
Compared to an average S&P500 Dividend Yield of 2.38, KBC pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.47%

5.2 History

On average, the dividend of KBC grows each year by 6.06%, which is quite nice.
Dividend Growth(5Y)6.06%
Div Incr Years1
Div Non Decr Years3
KBC.BR Yearly Dividends per shareKBC.BR Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

67.66% of the earnings are spent on dividend by KBC. This is not a sustainable payout ratio.
The Dividend Rate of KBC has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP67.66%
EPS Next 2Y2.66%
EPS Next 3Y4.86%
KBC.BR Yearly Income VS Free CF VS DividendKBC.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B -10B 20B -20B
KBC.BR Dividend Payout.KBC.BR Dividend Payout, showing the Payout Ratio.KBC.BR Dividend Payout.PayoutRetained Earnings

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KBC GROUP NV

EBR:KBC (3/14/2025, 7:00:00 PM)

84.26

+0.48 (+0.57%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-13 2025-02-13/bmo
Earnings (Next)N/A N/A
Inst Owners29.86%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap35.18B
Analysts71.82
Price Target87.5 (3.85%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.47%
Yearly Dividend4.03
Dividend Growth(5Y)6.06%
DP67.66%
Div Incr Years1
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.74%
Min EPS beat(2)6.47%
Max EPS beat(2)9.01%
EPS beat(4)3
Avg EPS beat(4)4.31%
Min EPS beat(4)-3.72%
Max EPS beat(4)9.01%
EPS beat(8)6
Avg EPS beat(8)10.28%
EPS beat(12)10
Avg EPS beat(12)10.48%
EPS beat(16)12
Avg EPS beat(16)10.5%
Revenue beat(2)1
Avg Revenue beat(2)-0.34%
Min Revenue beat(2)-1.1%
Max Revenue beat(2)0.43%
Revenue beat(4)1
Avg Revenue beat(4)-0.41%
Min Revenue beat(4)-1.1%
Max Revenue beat(4)0.43%
Revenue beat(8)4
Avg Revenue beat(8)8.74%
Revenue beat(12)8
Avg Revenue beat(12)20.45%
Revenue beat(16)12
Avg Revenue beat(16)25.7%
PT rev (1m)4.33%
PT rev (3m)7.6%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.81%
EPS NY rev (1m)1.14%
EPS NY rev (3m)2.19%
Revenue NQ rev (1m)0.04%
Revenue NQ rev (3m)-0.84%
Revenue NY rev (1m)1.35%
Revenue NY rev (3m)1.82%
Valuation
Industry RankSector Rank
PE 10.13
Fwd PE 10.5
P/S 2.75
P/FCF N/A
P/OCF N/A
P/B 1.51
P/tB 1.69
EV/EBITDA N/A
EPS(TTM)8.32
EY9.87%
EPS(NY)8.03
Fwd EY9.52%
FCF(TTM)-36.95
FCFYN/A
OCF(TTM)-33.91
OCFYN/A
SpS30.61
BVpS55.8
TBVpS49.95
PEG (NY)N/A
PEG (5Y)1.38
Profitability
Industry RankSector Rank
ROA 0.82%
ROE 12.41%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 22.62%
GM N/A
FCFM N/A
ROA(3y)0.88%
ROA(5y)0.76%
ROE(3y)13.38%
ROE(5y)11.54%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.07%
PM growth 5Y2.31%
GM growth 3YN/A
GM growth 5YN/A
F-Score2
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 1.64
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 9.94%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score2
WACC22.22%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)3.61%
EPS 3Y10.6%
EPS 5Y7.34%
EPS Q2Q%72.96%
EPS Next Y-3.54%
EPS Next 2Y2.66%
EPS Next 3Y4.86%
EPS Next 5Y-0.73%
Revenue 1Y (TTM)1.28%
Revenue growth 3Y6.91%
Revenue growth 5Y4.07%
Sales Q2Q%7.07%
Revenue Next Year6.1%
Revenue Next 2Y5.73%
Revenue Next 3Y5.49%
Revenue Next 5Y5.28%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-89.86%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-102.47%
OCF growth 3YN/A
OCF growth 5YN/A