baIs there an oportunity in Santander (SANB11)?
P/book value: 1,16
Book value: 64.877.000.000 BRL
ROE: 5,9%
Would't be reasonable that Santander's ROE will at least get close to it's peers ROE?
Considering that SANB's ROE gets to 15% in 10 years from now, wich would result in a P/E of 7,67, would it be a good investment?
Well, it must be taken in consideration that BBAS3 current P/E today is 7,15 ... so why take the chances with Santander?
Efeitos no Brasil do cenário financeiro nos EUA
3 weeks ago
2 comments:
The equity of SANB is inflate by agio. In the release the bank itself recognize this and show the ROE without this value, giving about 18%.
So it's very expensive, and I would prefer the owner of BBAS. Another way to see this is that BBAS value 84 bi while SANB 75. But BBAS has assets of 730 bi and SANB just 395 bi!
"agio" is goodwill
Post a Comment
We encourage your feedback and we will take your comments into serious consideration. However, you must be warned that any comment that does not follow the blog philosophy (Value Investing and Behavioural Finance) will be promptly removed.