` Comparison: SANB3 vs BBVA - Alpha Spread

B
SANB3
vs
BBVA

Over the past 12 months, SANB3 has underperformed BBVA, delivering a return of +39% compared to the BBVA's +58% growth.

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SANB3
BBVA
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Valuation Comparison

SANB3 Intrinsic Value
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BBVA Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
B
Banco Santander Brasil SA
BOVESPA:SANB3
17.54 BRL
Banco Bilbao Vizcaya Argentaria SA
MAD:BBVA
19.835 EUR
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
SANB3, BBVA

SANB3
BBVA
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
B
Banco Santander Brasil SA
Revenue
Banco Bilbao Vizcaya Argentaria SA
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
SANB3, BBVA

SANB3
BBVA
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
B
Banco Santander Brasil SA
BOVESPA:SANB3
FCF is not applicable for financial companies
Banco Bilbao Vizcaya Argentaria SA
MAD:BBVA
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

SANB3
BBVA
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Santander Brasil SA
Not applicable for financial companies
Banco Bilbao Vizcaya Argentaria SA
Not applicable for financial companies

Operating Margin

SANB3
BBVA
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Santander Brasil SA
Not applicable for financial companies
Banco Bilbao Vizcaya Argentaria SA
Not applicable for financial companies

Net Margin

SANB3
11.8%
BBVA
27.2%

FCF Margin

SANB3
BBVA
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Santander Brasil SA
Not applicable for financial companies
Banco Bilbao Vizcaya Argentaria SA
Not applicable for financial companies

ROE

SANB3
9.9%
BBVA
17.9%

ROA

SANB3
1%
BBVA
1.2%

ROIC

SANB3
BBVA
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Santander Brasil SA
Not applicable for financial companies
Banco Bilbao Vizcaya Argentaria SA
Not applicable for financial companies

ROCE

SANB3
BBVA
LTM 3Y Avg 5Y Avg 10Y Avg
B
Banco Santander Brasil SA
Not applicable for financial companies
Banco Bilbao Vizcaya Argentaria SA
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
SANB3, BBVA

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Performance Gap
SANB3, BBVA

Performance Gap Between SANB3 and BBVA
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Performance By Year
SANB3, BBVA

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SANB3
BBVA
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