Want to see BBVA full AI Analyst Report?
Top Page
Banco Bilbao
(NYSE:BBVA)
Select Model
Select Model
Rating:78Outperform
Price Target:
$32.00
â–²(23.31% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong current profitability and improved TTM cash generation, partially offset by higher balance-sheet leverage and historically volatile revenue/cash flow. Technicals are supportive (clear uptrend and positive MACD) but near-overbought signals cap upside. Valuation is constructive with a moderate P/E and ~3.9% dividend yield.
Positive Factors
High profitability and margins
Sustained high margins and TTM net income indicate structural operating efficiency and pricing power across BBVA's businesses. Robust profitability supports internal capital formation, dividend capacity and reinvestment, giving resilience through cycles and ability to fund strategic initiatives over months to years.
Negative Factors
Rising leverage and higher debt
Material increase in leverage reduces balance-sheet flexibility and raises sensitivity to funding costs and interest-rate moves. Higher debt ratios constrain capital allocation, magnify downside in stress scenarios, and may force more conservative lending or higher capital issuance over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained high margins and TTM net income indicate structural operating efficiency and pricing power across BBVA's businesses. Robust profitability supports internal capital formation, dividend capacity and reinvestment, giving resilience through cycles and ability to fund strategic initiatives over months to years.
Read all positive factors
Banco Bilbao (BBVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$160.66B
Dividend Yield3.76%
Average Volume (3M)1.34M
Price to Earnings (P/E)12.9
Beta (1Y)0.87
Revenue Growth-2.29%
EPS Growth14.33%
CountryUS
Employees127,174
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)1.88
Shares Outstanding5,581,204,600
10 Day Avg. Volume1,020,881
30 Day Avg. Volume1,337,614
Financial Highlights & Ratios
PEG Ratio19.72
Price to Book (P/B)2.07
Price to Sales (P/S)3.21
P/FCF Ratio9.00
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$28.81Price Target Upside11.03% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.37
Revenue Forecast (FY)$48.38B
Banco Bilbao Business Overview & Revenue Model
Company Description
Banco Bilbao Vizcaya Argentaria, S.A., established in Bilbao, Spain, in 1857, operates as a comprehensive global financial services provider through its various subsidiaries. The institution specializes in retail banking, wholesale banking, and as...
How the Company Makes Money
BBVA makes money primarily by earning income from financial intermediation and fees across its banking and financial services activities.
1) Net interest income (core banking spread): A major revenue source is the difference between interest earn...
Banco Bilbao Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call emphasized record earnings, strong loan and revenue growth, improved profitability metrics, sustained capital generation and proactive capital returns (share buybacks), together with technology and AI progress. These positive outcomes were balanced against non-recurring expense items, QoQ normalization in trading income, localized asset-quality pressure (notably Turkey and Argentina), and some spread sensitivity in Spain. Management upgraded guidance for key regions (Mexico, South America) and reiterated disciplined capital policy and RWA/SRT optimization. On balance, positives materially outweigh the challenges.Positive Updates
Record Earnings and Strong Profitability
Net attributable profit of EUR 3.062 billion in Q2 (+11.4% YoY, +2.4% QoQ) and EUR 6.051 billion in H1. Return on tangible equity of 22.2% and return on equity of 21.1% for the first half; EPS up 15.2% YoY.
Negative Updates
Expense Growth and One-Off Impacts
Operating expenses increased 17.9% YoY in H1, driven by voluntary redundancies (mainly in Spain & holding) and VAT regularization; underlying (ex-one-offs) cost growth ~14.5% H1 — still elevated and weighing on reported efficiency.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Earnings and Strong Profitability
Net attributable profit of EUR 3.062 billion in Q2 (+11.4% YoY, +2.4% QoQ) and EUR 6.051 billion in H1. Return on tangible equity of 22.2% and return on equity of 21.1% for the first half; EPS up 15.2% YoY.
Read all positive updates
Company Guidance
BBVA upgraded its 2026 targets and provided detailed metric guidance: group return on tangible equity is now guided to around 21%, CET1 was 12.90% (+7 bps qoq) and pro forma ~12.41% after the announced new €2bn buyback (following completion of the prior €4bn program by Aug 3 and a €1bn tranche starting Aug 5); H1 net attributable profit was €6.051bn (Q2 €3.062bn, +11.4% YoY; EPS +15.2% YoY) and tangible book value per share plus dividends rose 17.3% YoY. On business metrics, group loan growth was +17.7% YoY (≈20% in current euros) with Spain +7.4% and Mexico ~10%; Mexico guidance was upgraded to ~10% loan growth, net interest income growth at high single digits and year-end cost of risk below 335 bps; South America gross revenues are now expected to grow in the high teens with full‑year cost of risk below 250 bps; Turkey’s full‑year cost of risk was revised to ~220 bps. On costs and capital allocation, BBVA reiterated mid‑to‑high single‑digit expense growth, an efficiency target below 35% (mid‑term low‑30s/≈30% by 2028), expects SRTs to deliver ~30–40 bps p.a. of RWA relief (18 bps H1, +6 bps this quarter), and reaffirmed the policy of distributing excess capital above a 12% CET1 reference.Banco Bilbao Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
67
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.85B | 36.93B | 35.48B | 58.19B | 40.37B | 31.32B |
| Gross Profit | 33.92B | 30.86B | -6.66B | 28.97B | 24.68B | 19.97B |
| EBITDA | 18.99B | 17.75B | 16.94B | 13.82B | 11.60B | 8.48B |
| Net Income | 11.12B | 10.51B | 10.05B | 8.02B | 6.36B | 4.65B |
Balance Sheet | ||||||
| Total Assets | 965.43B | 859.58B | 772.40B | 775.56B | 712.09B | 662.88B |
| Cash, Cash Equivalents and Short-Term Investments | 325.42B | 275.94B | 153.57B | 177.95B | 178.37B | 134.96B |
| Total Debt | 106.16B | 81.84B | 144.43B | 179.35B | 114.64B | 116.09B |
| Total Liabilities | 901.63B | 797.78B | 712.39B | 720.29B | 661.57B | 614.13B |
| Stockholders Equity | 58.95B | 57.36B | 55.65B | 51.70B | 46.90B | 43.91B |
Cash Flow | ||||||
| Free Cash Flow | 10.08B | 13.16B | -19.39B | -2.54B | 21.28B | -2.19B |
| Operating Cash Flow | 11.43B | 14.97B | -18.19B | -721.00M | 23.72B | -1.24B |
| Investing Cash Flow | -1.29B | -1.40B | -1.42B | -1.42B | -3.91B | -1.63B |
| Financing Cash Flow | -4.44B | -3.67B | -2.57B | -1.84B | -7.56B | -4.35B |
Banco Bilbao Technical Analysis
Positive
25.95
Price Trends
25.62
Positive
23.88
Positive
22.95
Positive
Market Momentum
0.92
Negative
69.99
Neutral
76.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BBVA, the sentiment is Positive. The current price of 25.95 is below the 20-day moving average (MA) of 27.32, above the 50-day MA of 25.62, and above the 200-day MA of 22.95, indicating a bullish trend. The MACD of 0.92 indicates Negative momentum. The RSI at 69.99 is Neutral, neither overbought nor oversold. The STOCH value of 76.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BBVA.
Banco Bilbao Risk Analysis
Banco Bilbao disclosed 22 risk factors in its most recent earnings report. Banco Bilbao reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Banco Bilbao Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $160.66B | 12.93 | 19.31% | 4.15% | -2.29% | 14.33% | |
71 Outperform | $99.59B | 13.43 | 13.38% | 4.46% | 12.60% | 24.01% | |
68 Neutral | $258.72B | 15.52 | 11.49% | 2.65% | 7.56% | 43.28% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $94.81B | 10.71 | 10.11% | 1.61% | 12.33% | 22.63% | |
65 Neutral | $218.93B | 11.62 | 15.48% | 2.24% | 16.84% | 33.67% | |
61 Neutral | $233.72B | 14.77 | 8.39% | 1.82% | 3.91% | 37.25% |
* Financial Sector Average
BBVA
Banco Bilbao
28.70
10.37
56.57%
BCS
Barclays
28.14
8.29
41.76%
C
Citigroup
139.33
47.06
51.01%
ING
ING Groep
35.70
12.04
50.86%
MUFG
Mitsubishi UFJ
23.06
7.42
47.44%
SAN
Banco Santander SA
14.76
5.35
56.90%
Banco Bilbao Corporate Events
BBVA Prices $1.25 Billion 4.968% Senior Non-Preferred Notes Due 2031 in U.S. Market
May 8, 2026
BBVA has filed a Form 6-K in the United States detailing the issuance and sale of U.S.$1.25 billion of 4.968% Senior Non-Preferred Fixed Rate Notes due 2031. The transaction, documented through a pricing agreement dated April 30, 2026 and a supple...
BBVA Raises $1 Billion via New Contingent Convertible AT1 Issue
May 8, 2026
On May 8, 2026, BBVA filed a report in the United States detailing the issuance and sale of $1 billion in Series 16 Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities. These Additional Tier 1 instruments can co...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.