Financials mBank S.A.

Equities

MBK

PLBRE0000012

Banks

Market Closed - Warsaw S.E. 11:55:49 2024-04-26 am EDT 5-day change 1st Jan Change
678 PLN +0.92% Intraday chart for mBank S.A. -0.18% +26.73%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2024 2025 2026
Capitalization 1 16,491 7,592 18,361 12,560 28,791 - -
Enterprise Value (EV) 1 16,491 7,592 18,361 12,560 28,791 28,791 28,791
P/E ratio 16.3 x 73.1 x -15.6 x -17.9 x 11.5 x 7.41 x 7.28 x
Yield - - - - - 4.48% 6.45%
Capitalization / Revenue 3.05 x 1.33 x 3.06 x 1.37 x 2.49 x 2.49 x 2.52 x
EV / Revenue 3.05 x 1.33 x 3.06 x 1.37 x 2.49 x 2.49 x 2.52 x
EV / EBITDA - - - - - - -
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book 1.02 x 0.46 x 1.34 x 0.99 x 1.75 x 1.45 x 1.25 x
Nbr of stocks (in thousands) 42,350 42,367 42,385 42,433 42,465 - -
Reference price 2 389.4 179.2 433.2 296.0 678.0 678.0 678.0
Announcement Date 2/6/20 2/9/21 2/8/22 2/9/23 - - -
1PLN in Million2PLN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2024 2025 2026
Net sales 1 5,412 5,707 5,994 9,176 11,577 11,575 11,404
EBITDA - - - - - - -
EBIT 1 2,726 2,367 890.8 4,523 6,870 7,558 7,428
Operating Margin 50.36% 41.47% 14.86% 49.29% 59.34% 65.3% 65.13%
Earnings before Tax (EBT) 1 1,555 609.7 -591 -108 4,934 5,868 5,818
Net income 1 1,010 103.8 -1,179 -702.7 3,692 4,166 4,108
Net margin 18.67% 1.82% -19.67% -7.66% 31.89% 35.99% 36.02%
EPS 2 23.85 2.450 -27.82 -16.57 58.85 91.51 93.13
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 - - - - - 30.35 43.71
Announcement Date 2/6/20 2/9/21 2/8/22 2/9/23 - - -
1PLN in Million2PLN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2024 Q1
Net sales 1 - 1,484 1,681 2,179 2,155 3,970 1,075 2,423 2,594 2,688 5,232 2,767 2,922
EBITDA - - - - - - - - - - - - -
EBIT 1 - 455.7 -976.2 1,335 960.3 - 249.9 1,803 1,468 1,991 3,638 1,988 1,986
Operating Margin - 30.7% -58.08% 61.26% 44.57% - 23.25% 74.42% 56.6% 74.06% 69.53% 71.85% 67.94%
Earnings before Tax (EBT) 1 - 101.4 -1,435 713.6 598.3 1,312 -2,424 1,004 469.5 75.85 545.3 462.3 742.5
Net income 1 177.9 26.6 -1,631 512.3 229.7 742 -2,279 834.5 142.8 -15.48 127.3 -83.02 285.5
Net margin - 1.79% -97.05% 23.52% 10.66% 18.69% -212.08% 34.45% 5.51% -0.58% 2.43% -3% 9.77%
EPS - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 7/30/20 11/3/21 2/8/22 5/11/22 8/3/22 8/3/22 11/8/22 2/9/23 4/28/23 8/2/23 8/2/23 10/31/23 -
1PLN in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2024 2025 2026
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) 6.6% 0.63% -7.76% -5.3% 24.4% 21.9% 18.8%
ROA (Net income/ Total Assets) 0.66% 0.06% -0.59% -0.34% 1.34% 1.64% 1.51%
Assets 1 153,083 169,382 199,789 206,674 276,529 254,801 272,053
Book Value Per Share 2 381.0 394.0 324.0 300.0 387.0 466.0 543.0
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 2/6/20 2/9/21 2/8/22 2/9/23 - - -
1PLN in Million2PLN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
678 PLN
Average target price
690.8 PLN
Spread / Average Target
+1.88%
Consensus

Quarterly revenue - Rate of surprise

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