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CaixaBank SA
(OTC:CAIXY)
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Rating:73Outperform
Price Target:
$5.00
â–¼(-0.79% Downside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by solid financial performance (strong profitability and growth, moderated by leverage and cash-flow volatility) and a constructive earnings call (reconfirmed targets, improving asset quality and capital strength). Valuation is supportive with a reasonable P/E and a ~4.2% dividend yield, while technicals are mixed with short-term weakness versus the 20-day average despite a positive longer-term trend.
Positive Factors
Commercial Momentum & Customer Growth
Sustained customer acquisition and ~8% YoY growth in customer funds and performing loans indicate durable franchise expansion. Broad-based client gains support cross-sell, recurring deposit funding and loan origination pipelines, underpinning dependable revenue growth and scale advantages over the medium term.
Negative Factors
Balance-Sheet Leverage
Meaningful leverage, typical for banks but elevated, amplifies exposure to credit losses or funding stress. A higher debt-to-equity profile constrains capital flexibility, increases sensitivity to rising credit costs, and can force tighter lending or capital-raising actions if asset-quality or funding conditions deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial Momentum & Customer Growth
Sustained customer acquisition and ~8% YoY growth in customer funds and performing loans indicate durable franchise expansion. Broad-based client gains support cross-sell, recurring deposit funding and loan origination pipelines, underpinning dependable revenue growth and scale advantages over the medium term.
Read all positive factors
CaixaBank SA (CAIXY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$100.98B
Dividend Yield4.05%
Average Volume (3M)71.62K
Price to Earnings (P/E)14.3
Beta (1Y)0.65
Revenue Growth-0.07%
EPS Growth10.66%
CountryUS
Employees47,120
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.29
Shares Outstanding20,929,883,000
10 Day Avg. Volume139,219
30 Day Avg. Volume71,624
Financial Highlights & Ratios
PEG Ratio3.32
Price to Book (P/B)1.89
Price to Sales (P/S)3.02
P/FCF Ratio1.80
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.35
Revenue Forecast (FY)$19.70B
CaixaBank SA Business Overview & Revenue Model
Company Description
CaixaBank, S.A., together with its subsidiaries, provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally. It operates through four segments: Retail Banking, Business Banking, Private Ba...
How the Company Makes Money
CaixaBank primarily earns money through a diversified banking and financial-services revenue model. Key revenue streams include: (1) Net interest income: the spread between interest earned on interest-bearing assets (notably customer loans such as...
CaixaBank SA Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 30, 2026
Earnings Call Sentiment Positive
The call highlighted robust commercial momentum across deposits, loans, wealth and insurance, strong profitability (net income +~10% YoY) and improving asset quality and capital metrics, supported by digital and AI-driven efficiency gains. Offsetting items included pressure on recurring banking fees, some technical and one-off effects on loan yields (notably in Portugal), moderation in deposit growth relative to loan growth, higher transformation-related costs and a cautious outlook on NII guidance due to market volatility. On balance, the positive commercial, capital, and asset-quality developments materially outweigh the manageable and largely explained lowlights.Positive Updates
Strong Commercial Momentum and Customer Growth
Customer funds and performing loans grew around 8% year-on-year; net new clients exceeded 400,000 and gross new client acquisition surpassed 1.1 million, evidencing robust customer acquisition and commercial traction.
Negative Updates
Pressure on Recurring Banking Fees
Recurring banking fees weakened (recurring banking fees down c. 2.4% H1; management notes >50% of the slowdown linked to SRTs and recurring fees down ~1% YoY excluding SRTs). Management expects stabilization but not immediate catch-up with volume growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Commercial Momentum and Customer Growth
Customer funds and performing loans grew around 8% year-on-year; net new clients exceeded 400,000 and gross new client acquisition surpassed 1.1 million, evidencing robust customer acquisition and commercial traction.
Read all positive updates
Company Guidance
Management reconfirmed its 2027 targets (including NII guidance) and reiterated a target RoTE above 18% by year‑end; H1 net income was €1.631bn (≈+10% YoY) with Q2 up ~10% YoY, NII +3.5% YoY (+2.5% QoQ) and revenues from services +7.4% YoY (guidance still ~+5% for the year). Commercial momentum is strong—customer funds and performing loans ~+8% YoY, loan growth running ahead of plan (group lending now tracking closer to ~7% vs prior 5–6% forecast) with mortgages +6.7% YoY, consumer +11.5% and business lending in double digits; AUMs >€300bn with €4.3bn net inflows and protection premiums +11.8%. Asset quality improved (NPL ratio ~1.78–1.8%, coverage ~81%), cost of risk 24bps (Q2 incremental loan‑loss charges ≈€30m plus €40m overlays), CET1 12.54% after +69bps capital accretion (23bps reinvested, 42bps for dividends/AT1), interim dividend planned 30–40% of H1 (group payout target 50–60%), liquidity €225bn (LCR 184%, NSFR 143%), MREL ~27.7% (MDA buffer ~339bps). ALCO/hedging: €2.7bn hedges added in Q2 (hedge stock ~€77bn), fixed‑income ~€79bn; deposit trends: deposits +4.7% YoY (non‑interest bearing +5.5%), interest‑bearing ~26% with cost +5bps to 1.61% (12‑month Euribor +44bps this quarter); management expects deposit beta in the low‑20s and average deposit cost ex‑hedges slightly below 50bps for the year.CaixaBank SA Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.23B | 24.11B | 26.83B | 24.07B | 15.22B | 13.27B |
| Gross Profit | 16.30B | 16.76B | 17.04B | 15.96B | 12.58B | 11.36B |
| EBITDA | 8.87B | 9.46B | 9.10B | 7.70B | 5.05B | 6.01B |
| Net Income | 6.12B | 5.89B | 5.79B | 4.82B | 3.13B | 5.23B |
Balance Sheet | ||||||
| Total Assets | 693.14B | 663.76B | 631.00B | 607.17B | 598.85B | 680.04B |
| Cash, Cash Equivalents and Short-Term Investments | 37.98B | 45.83B | 49.80B | 37.86B | 20.52B | 104.28B |
| Total Debt | 70.66B | 52.21B | 54.42B | 56.76B | 50.09B | 50.74B |
| Total Liabilities | 654.46B | 625.25B | 594.14B | 570.83B | 565.14B | 644.61B |
| Stockholders Equity | 38.67B | 38.51B | 36.83B | 36.31B | 33.67B | 35.39B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 40.31B | 16.53B | 14.94B | -80.79B | 37.95B |
| Operating Cash Flow | 0.00 | 40.69B | 16.85B | 15.74B | -79.88B | 38.63B |
| Investing Cash Flow | 0.00 | -36.48B | -152.00M | 203.00M | 164.00M | 13.89B |
| Financing Cash Flow | 0.00 | -8.02B | -4.75B | 1.39B | -3.98B | 88.00M |
CaixaBank SA Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $100.98B | 14.28 | 16.09% | 3.87% | -0.07% | 10.66% | |
73 Outperform | $98.17B | 12.58 | 12.49% | 3.25% | 2.42% | 19.99% | |
72 Outperform | $99.70B | 13.74 | 12.34% | 2.83% | 3.92% | 24.15% | |
69 Neutral | $96.01B | 11.08 | 21.64% | 7.10% | 19.64% | 12.10% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $127.22B | 14.57 | 12.28% | 1.73% | 2.65% | 54.00% | |
62 Neutral | $89.74B | 20.34 | 11.05% | 3.26% | -13.48% | 25.29% |
* Financial Sector Average
CAIXY
CaixaBank SA
4.85
1.68
52.84%
ITUB
Itau Unibanco
8.19
2.19
36.59%
LYG
Lloyds Banking
6.22
1.99
47.11%
MFG
Mizuho Financial
10.34
4.26
70.07%
PNC
PNC Financial
254.14
71.59
39.22%
USB
US Bancorp
64.23
21.49
50.29%
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.