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Banco Bilbao Vizcaya Argentaria (ES:BBVA)
BME:BBVA
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Banco Bilbao Vizcaya Argentaria (BBVA) AI Stock Analysis

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ES:BBVA

Banco Bilbao Vizcaya Argentaria

(BME:BBVA)

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Outperform 77 (OpenAI - 4o)
Rating:77Outperform
Price Target:
€20.00
▲(12.61% Upside)
BBVA's strong financial performance, particularly in profitability and cash flow generation, coupled with positive technical indicators, contribute significantly to its high score. The valuation is attractive, and the positive sentiment from the earnings call further boosts confidence. However, the revenue decline and challenges in certain markets are risks to monitor.

Banco Bilbao Vizcaya Argentaria (BBVA) vs. iShares MSCI Spain ETF (EWP)

Banco Bilbao Vizcaya Argentaria Business Overview & Revenue Model

Company DescriptionBanco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides retail banking, wholesale banking, and asset management services. It offers current accounts; and demand, savings, overnight, time, term, and subordinated deposits. The company also provides loan products; deals in securities; and manages pension and investment funds. In addition, it offers credit cards; corporate and investment banking services; insurance products and services; and real estate services. The company provides its products through online and mobile channels. As of December 31, 2021, it operated through a network of 6,083 branches and 29,148 ATMs. It operates in Spain, Mexico, South America, the United States, Turkey, Asia, and rest of Europe. Banco Bilbao Vizcaya Argentaria, S.A. was founded in 1857 and is headquartered in Bilbao, Spain.
How the Company Makes MoneyBBVA generates revenue through several key streams. The primary source is interest income, which it earns from loans provided to individuals and businesses. This includes personal loans, mortgages, and corporate financing. Another significant revenue stream comes from fees and commissions charged for various services, including account maintenance, transaction fees, and advisory services. BBVA also earns income through its investment banking division, which offers services such as mergers and acquisitions, and underwriting. Additionally, the bank engages in wealth management and asset management services, generating fees from managing client assets. Strategic partnerships with fintech companies and other financial institutions enhance its service offerings and customer reach, further contributing to its earnings.

Banco Bilbao Vizcaya Argentaria Earnings Call Summary

Earnings Call Date:Oct 30, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Feb 05, 2026
Earnings Call Sentiment Neutral
The earnings call presented a strong performance in terms of growth in tangible book value, record profits, and strategic progress in sustainability. However, there were challenges due to inflation impacts in Turkey, economic volatility in Argentina, and increasing competition in Mexico. The highlights of growth and profitability were balanced by these challenges.
Q3-2025 Updates
Positive Updates
Strong Tangible Book Value Growth
Tangible book value per share plus dividends increased by 17% year-over-year and 4.5% in the quarter.
High Return on Tangible Equity
Industry-leading return on tangible equity of 19.7% and ROE of 18.8% in the first 9 months of 2025.
Record Net Attributable Profit
Net attributable profit exceeded EUR 2.5 billion, with a cumulative profit of nearly EUR 8 billion in the first 9 months, a 4.7% increase year-over-year.
Robust Loan Growth
Loan growth maintained at 16% year-over-year, leading to strong net interest income performance.
Positive Capital Position
CET1 capital ratio improved by 8 basis points to 13.42%, with plans for a significant share buyback program.
Strategic Progress in Sustainability
Record EUR 97 billion channeled in sustainable business within the first 9 months of 2025.
Strong Performance in Spain
Spain showed strong momentum with a net profit of EUR 3.1 billion in the first 9 months, driven by solid business performance and outstanding NII evolution.
Positive Asset Quality Metrics
Cost of risk in Spain remains contained at 34 basis points, and asset quality metrics are performing better than expectations.
Negative Updates
Net Attributable Profit Decrease
Net attributable profit decreased compared to the previous quarter due to higher inflation in Turkey and one-off positive impacts from the second quarter not recurring.
Challenges in Turkey
Cost of risk in Turkey slightly increased to 176 basis points, with provisioning needs remaining high in retail.
Argentina Economic Volatility
In Argentina, there was a sharp compression in spreads amid a volatile rate and currency environment, leading to some deterioration in asset quality.
Pressure from New Competitors in Mexico
Increased competition from neobanks in the Mexican market, particularly in the credit card and deposit segments.
Company Guidance
During BBVA's Q3 2025 earnings call, several key metrics and strategic insights were provided. Tangible book value per share plus dividends grew by 17% year-over-year and 4.5% in the quarter. The bank maintained high profitability ratios, with a return on tangible equity of 19.7% and a return on equity of 18.8% for the first nine months. Net attributable profit exceeded EUR 2.5 billion, despite challenges like higher inflation in Turkey and currency effects from the Mexican peso. The CET1 capital ratio improved by 8 basis points to 13.42%, bolstering shareholder remuneration plans, including a EUR 1 billion share buyback. Loan growth was strong at 16% year-over-year, particularly in Spain and Mexico, and net interest income and fees showed robust year-over-year growth of 18% and 15%, respectively. The efficiency ratio improved to 38.2%, while the cost of risk stood at 135 basis points. The bank's strategic focus included new customer acquisition, sustainability, and digital expansion, as highlighted by the acquisition of 8.7 million new customers, 66% through digital channels, and channeling EUR 97 billion in sustainable business.

Banco Bilbao Vizcaya Argentaria Financial Statement Overview

Summary
Banco Bilbao Vizcaya Argentaria exhibits strong profitability and cash flow generation, with improvements in leverage. However, the significant revenue decline in the TTM poses a risk that needs to be addressed to sustain growth.
Income Statement
75
Positive
The income statement shows strong profitability with a TTM net profit margin of 23.33% and an EBIT margin of 35.64%. However, there is a significant revenue decline of 19.13% in the TTM, indicating potential challenges in revenue generation.
Balance Sheet
65
Positive
The balance sheet reflects a moderate debt-to-equity ratio of 1.26 in the TTM, which is an improvement from previous years, indicating better leverage management. However, the equity ratio remains low, suggesting limited equity financing.
Cash Flow
80
Positive
Cash flow analysis reveals a robust free cash flow growth of 458.22% in the TTM, demonstrating strong cash generation capabilities. The free cash flow to net income ratio is healthy at 0.76, indicating efficient cash conversion.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue45.03B75.63B58.19B40.37B31.32B22.27B
Gross Profit31.07B33.63B28.97B24.68B19.97B22.27B
EBITDA17.57B16.94B13.82B11.60B8.48B6.54B
Net Income10.51B10.05B8.02B6.36B4.65B1.30B
Balance Sheet
Total Assets776.97B772.40B775.56B712.09B662.88B733.80B
Cash, Cash Equivalents and Short-Term Investments131.27B118.86B256.84B225.41B228.87B208.37B
Total Debt71.80B144.43B179.35B114.64B116.09B110.80B
Total Liabilities716.09B712.39B720.29B661.57B614.13B683.78B
Stockholders Equity56.83B55.65B51.70B46.90B43.91B44.55B
Cash Flow
Free Cash Flow25.47B32.74B-2.54B21.28B-2.19B38.23B
Operating Cash Flow26.53B33.94B-721.00M23.72B-1.24B39.35B
Investing Cash Flow-25.07B-53.55B-1.42B-3.91B-1.63B-37.00M
Financing Cash Flow-2.70B-2.57B-1.84B-7.56B-4.35B-2.07B

Banco Bilbao Vizcaya Argentaria Technical Analysis

Technical Analysis Sentiment
Positive
Last Price17.76
Price Trends
50DMA
16.67
Positive
100DMA
15.56
Positive
200DMA
13.96
Positive
Market Momentum
MACD
0.47
Positive
RSI
54.48
Neutral
STOCH
25.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:BBVA, the sentiment is Positive. The current price of 17.76 is above the 20-day moving average (MA) of 17.63, above the 50-day MA of 16.67, and above the 200-day MA of 13.96, indicating a bullish trend. The MACD of 0.47 indicates Positive momentum. The RSI at 54.48 is Neutral, neither overbought nor oversold. The STOCH value of 25.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:BBVA.

Banco Bilbao Vizcaya Argentaria Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
€100.84B9.7918.66%4.11%5.66%8.16%
76
Outperform
$6.17B9.868.76%6.70%-9.39%45.60%
76
Outperform
€64.98B10.9715.73%5.04%-7.50%12.76%
75
Outperform
€11.80B11.4216.71%4.33%-7.12%15.96%
73
Outperform
£130.83B9.7112.91%2.08%-16.49%14.32%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ES:BBVA
Banco Bilbao Vizcaya Argentaria
17.76
8.95
101.50%
ES:SAB
Banco de Sabadell
3.11
1.37
79.10%
ES:SAN
Banco Santander
8.92
4.52
102.82%
ES:BKT
Bankinter
13.16
5.91
81.70%
ES:CABK
CAIXABANK
9.02
3.88
75.35%
ES:UNI
Unicaja Banco SA
2.41
1.30
116.92%

Banco Bilbao Vizcaya Argentaria Corporate Events

Private Placements and Financing
BBVA Announces €1 Billion Convertible Securities Issuance
Neutral
Nov 3, 2025

BBVA has announced its decision to issue preferred securities that are contingently convertible into newly issued ordinary shares, with a total nominal amount of 1 billion euros. This issuance is aimed at enhancing BBVA’s Additional Tier 1 Capital, aligning with solvency regulations, and is not intended for retail investors. The securities will be listed on the Global Exchange Market of Euronext Dublin, and the issuance is subject to various jurisdictional restrictions.

Financial Disclosures
BBVA Releases 3Q25 Earnings Presentation
Neutral
Oct 30, 2025

Banco Bilbao Vizcaya Argentaria S.A (BBVA) has released its 3Q25 earnings presentation, providing insights into its financial performance for the third quarter of 2025. This announcement is crucial for stakeholders as it offers a detailed view of the company’s financial health and operational progress, potentially impacting its market position and investor confidence.

Business Operations and StrategyStock Buyback
BBVA Announces Strategic Share Buyback Program
Positive
Oct 30, 2025

BBVA has announced a significant event concerning its share buyback program, indicating a strategic move to enhance shareholder value. This initiative may positively impact the company’s market perception and financial metrics, reflecting BBVA’s commitment to optimizing capital allocation and returning value to its investors.

Business Operations and StrategyFinancial Disclosures
BBVA Releases 3Q25 Earnings Report Highlighting Financial Performance
Neutral
Oct 30, 2025

BBVA has released its earnings report for the third quarter of 2025, highlighting the company’s financial performance and strategic developments. This announcement provides insights into BBVA’s operational efficiency and market positioning, which could have implications for its stakeholders and influence its competitive stance in the banking sector.

Financial Disclosures
BBVA Releases Third-Quarter 2025 Financial Results
Neutral
Oct 30, 2025

Banco Bilbao Vizcaya Argentaria S.A (BBVA) has released its third-quarter results for 2025. The announcement provides insights into the company’s financial performance and its strategic positioning in the market, which could have implications for stakeholders and influence its operations moving forward.

M&A Transactions
BBVA Concludes Tender Offer for Banco Sabadell
Neutral
Oct 14, 2025

BBVA has announced the conclusion of its voluntary tender offer for Banco de Sabadell, aiming to acquire more than half of the voting rights in Banco Sabadell. The offer’s success hinges on the acceptance of at least 2,498,699,000 shares, excluding treasury shares, to meet the minimum acceptance condition, thus potentially strengthening BBVA’s market position and influence in the Spanish banking sector.

Financial Disclosures
Fitch Upgrades BBVA’s Credit Ratings, Enhancing Market Position
Positive
Oct 7, 2025

Fitch Ratings has upgraded multiple credit ratings for BBVA, including its long-term senior preferred debt rating to A from A-, with a stable outlook. This upgrade reflects positively on BBVA’s financial stability and could enhance its competitive positioning in the banking sector, potentially benefiting stakeholders by improving the bank’s borrowing costs and market perception.

Financial DisclosuresPrivate Placements and Financing
Moody’s Upgrades BBVA’s Debt Rating, Signals Financial Stability
Positive
Oct 3, 2025

Moody’s Ratings has upgraded BBVA’s long-term senior unsecured debt rating from A3 to A2, with a stable outlook. This upgrade reflects positively on BBVA’s financial stability and could enhance its competitive positioning in the financial market, potentially benefiting stakeholders through improved credit perceptions.

M&A Transactions
BBVA Launches Tender Offer for Banco de Sabadell
Neutral
Sep 25, 2025

BBVA has announced a voluntary tender offer for the entire share capital of Banco de Sabadell, which has been authorized by the Spanish Securities Market Commission. The offer involves an exchange of newly issued BBVA ordinary shares for Banco Sabadell shares, with an improved consideration ratio. BBVA has published an exemption document and its supplement, which do not require a prospectus under EU regulations, to facilitate this transaction.

Business Operations and StrategyM&A Transactions
BBVA Enhances Offer for Banco de Sabadell Acquisition
Positive
Sep 22, 2025

BBVA has announced an amendment to its voluntary tender offer for the acquisition of Banco de Sabadell, S.A., which was initially authorized by the Spanish Securities Market Commission. The amendment involves an improved consideration for the offer, now consisting of one newly issued ordinary share of BBVA for every 4.8376 ordinary shares of Banco Sabadell. This strategic move is expected to strengthen BBVA’s market position and potentially increase its influence in the Spanish banking sector.

Business Operations and StrategyM&A Transactions
BBVA Amends Tender Offer for Banco de Sabadell
Positive
Sep 22, 2025

BBVA has announced an amendment to its voluntary tender offer for Banco de Sabadell, changing the consideration to an entirely share-based exchange. The revised offer involves exchanging one BBVA ordinary share for every 4.8376 Banco Sabadell shares, with no further improvements to the offer or extension of the acceptance period planned. This strategic move could potentially strengthen BBVA’s market position by integrating Banco Sabadell’s operations, offering potential synergies and expanded market reach.

Other
BBVA’s Credit Rating Upgraded by S&P Global Ratings
Positive
Sep 16, 2025

S&P Global Ratings has upgraded BBVA’s long-term issuer credit rating to A+ from A, reflecting confidence in the bank’s financial stability. This upgrade, along with improvements in other ratings, signifies a positive outlook for BBVA’s market positioning and could enhance stakeholder confidence in the company’s financial health.

Business Operations and StrategyM&A Transactions
BBVA Launches Tender Offer for Banco de Sabadell
Positive
Sep 5, 2025

BBVA has announced a voluntary tender offer for the entire share capital of Banco de Sabadell, which has been authorized by the Spanish National Securities Market Commission. BBVA will not issue a prospectus for the shares to be issued under this offer, as it relies on exemptions for exchange offers under EU regulations. This strategic move could potentially strengthen BBVA’s market position by expanding its influence in the Spanish banking sector.

Business Operations and StrategyM&A Transactions
BBVA Announces Analyst Presentation on Banco Sabadell Tender Offer
Positive
Sep 5, 2025

BBVA has announced a presentation for analysts regarding its public tender offer for shares of Banco Sabadell, S.A., which has been approved by the CNMV. The presentation will be accessible through BBVA’s website and will be available for viewing for at least one month, highlighting the company’s strategic move to potentially expand its market presence through this acquisition.

Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
BBVA Secures SEC Relief for Banco de Sabadell Tender Offer
Positive
Sep 5, 2025

BBVA has announced that the U.S. Securities and Exchange Commission (SEC) has granted it relief concerning three specific regulatory matters related to its voluntary tender offer for Banco de Sabadell. This relief allows BBVA to align certain time-related requirements between U.S. and Spanish regulations, facilitating smoother operations for the tender offer. This development is significant for BBVA’s strategic expansion and could impact its market positioning and stakeholder interests.

DividendsM&A Transactions
BBVA Adjusts Tender Offer for Banco Sabadell Post-Dividend
Neutral
Aug 29, 2025

BBVA has announced an adjustment to its voluntary tender offer for Banco de Sabadell, following the latter’s interim dividend payment. The consideration for the offer is now set at one newly issued BBVA share and €0.70 in cash for every 5.5483 Banco Sabadell shares, maintaining the economic terms of the offer post-dividend.

Business Operations and StrategyPrivate Placements and Financing
BBVA Announces Redemption of $1 Billion Senior Notes
Neutral
Aug 13, 2025

BBVA has announced its decision to redeem its $1 billion Senior Non-Preferred Fixed-to-Fixed Rate Notes, initially issued in September 2022, on September 14, 2025. This move, approved by the Single Resolution Board, will see the redemption price paid on the next business day, September 15, 2025, due to the original redemption date not being a business day, ensuring no additional interest accrues post-redemption date.

Business Operations and StrategyM&A Transactions
BBVA Maintains Tender Offer for Banco de Sabadell Amid Strategic Developments
Neutral
Aug 11, 2025

BBVA has announced its decision to maintain its voluntary tender offer for the entire share capital of Banco de Sabadell, despite the latter’s recent approval of a transaction to sell its subsidiary, TSB Banking Group, to Banco Santander. This decision underscores BBVA’s strategic commitment to the acquisition, which could potentially enhance its market position and influence in the Spanish banking sector.

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.Date of analysis: Nov 05, 2025