Bankinter (BKT) AI Stock Analysis

• Market Cap: €12.74B
• Dividend Yield: 3.64%
• Average Volume (3M): 1.33M
• Price to Earnings (P/E): 11.7
• Beta (1Y): 0.99
• Revenue Growth: -7.12%
• EPS Growth: 15.96%
• Country: ES
• Employees: 6,674
• Sector: General
• Sector Strength: N/A
• Industry: Banks - Regional
• EPS (TTM): 0.29
• Shares Outstanding: 898,866,150
• 10 Day Avg. Volume: 1,235,344
• 30 Day Avg. Volume: 1,330,628
• PEG Ratio: 0.88
• Price to Book (P/B): 1.98
• Price to Sales (P/S): 2.70
• P/FCF Ratio: -1.28
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €15.25
• Price Target Upside: 5.90% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 1.28
• Revenue Forecast (FY): €3.24B

• Rating: 64 Neutral
• Price Target: €15.50 ▲(7.64% Upside)
• Action: Downgraded Date: 02/22/26
• Date: Action: Downgraded 02/22/26

The score is driven mainly by solid profitability and ROE but meaningfully reduced by very unstable cash flows and residual balance-sheet risk. Support comes from reasonable valuation (P/E ~11.9 and ~3.7% yield) and a generally positive price trend, though momentum indicators are mixed.

Positive Factors

Strong profitability & ROE

Bankinter’s net income and margins improved materially through 2025, with net income rising to €1,090m and net margin near 23%, supporting a sustained ROE around 16–17%. Persistent profitability at this scale underpins internal capital generation, dividend capacity, and funding for strategic initiatives over the medium term.

Improving capital base

Equity expansion over several years strengthens solvency and regulatory buffers, increasing resilience to shocks. A steadily larger capital base supports loan growth, absorbs credit losses, and gives management flexibility for strategic investments or buybacks without immediate need for external capital, improving long-term stability.

Diversified business model & digital focus

Multiple revenue streams—interest income, fees, asset management and advisory—reduce dependence on any single market cycle. Coupled with a stated focus on digital banking and fintech partnerships, this diversification supports more stable fee generation, higher customer retention, and lower unit servicing costs, strengthening durable earnings quality.

Negative Factors

Very volatile cash flows

Cash flow quality shows extreme volatility: large positive years followed by deep negative swings, culminating in ~-€10bn in 2025. Such magnitude undermines confidence in cash conversion of earnings, complicates liquidity planning, dividend consistency and capital allocation, and raises execution risk during stress periods.

Top-line volatility and recent revenue decline

Top-line fell about 5.5% in 2025, indicating earnings gains are more driven by mix, pricing and cost control than consistent revenue expansion. If margin drivers reverse or competition intensifies, earnings could compress quickly given underlying revenue sensitivity, making profit durability contingent on sustaining non-interest income gains.

Residual balance-sheet and funding risk

Although leverage metrics improved from prior peaks, total debt grew in 2025 and historical debt levels were materially higher. That history plus rising debt means the bank remains exposed to funding-pressure scenarios; tighter market conditions or deposit outflows could rapidly reintroduce balance-sheet strain and limit strategic flexibility.

Bankinter Business Overview & Revenue Model

Company Description

Bankinter, S.A. provides various banking products and services to individuals and corporate customers, and small- and medium-sized enterprises in Spain. It offers salary, non-salary, professional, basic, currency, pension, business, and current accounts, as well as deposit products; and mortgages and loan products, as well as financing services. The company also provides saving and investment products, including profiled funds, sustainable investment funds, other managers funds, pension funds, and themed funds, as well as funds for beginners; regular investment plans; and advisory, customized investment, wealth management, and alternative investment products and services. In addition, it offers accident, home, life, funeral, health, mortgage payment protection, property, personal, and motor insurance products, as well as business insurance products. Further, the company provides various services, such as estate administration, switch, asset management, accounts management, and transfer services, as well as real estate and brokerage services. The company also offers retail, personal, private, commercial, and corporate banking products, as well as remote banking services. As of December 31, 2021, it operated through a network of 446 branches and 379 agents. The company was formerly known as Banco Intercontinental Español, S.A. and changed its name to Bankinter, S.A. in July 1990. The company was founded in 1965 and is headquartered in Madrid, Spain.

How the Company Makes Money

Bankinter generates revenue through multiple key streams. The primary source is net interest income, which comes from the difference between the interest earned on loans and the interest paid on deposits. The bank also earns significant income from fees and commissions related to account maintenance, transactions, and advisory services. Additionally, Bankinter generates revenue from its investment banking activities, including underwriting, mergers and acquisitions advisory, and asset management services. Strategic partnerships with financial technology companies and collaborations in the fintech space further enhance its service offerings and customer reach, contributing positively to its earnings. The bank's focus on maintaining a diversified portfolio and adapting to market trends helps stabilize its revenue generation.

Bankinter Financial Statement Overview

Summary

Income statement strength (rising net income and higher margins; ROE ~16–17%) is offset by balance-sheet leverage risk (debt-to-equity improved to ~1.6x but debt rose in 2025) and very weak/volatile cash-flow quality, including a large negative swing in 2025 (operating and free cash flow about -10B).

Income Statement

Profitability is solid and improving: net income rose from 845.0M (2023) to 953.0M (2024) and 1,090.0M (2025), with the 2025 net margin up to ~23% (vs. ~18% in 2024). Operating profitability also strengthened (2025 operating margin ~35% vs. ~26% in 2024). The main weakness is top-line volatility—revenue declined ~5.5% in 2025 after a strong 2023–2024 rebound—suggesting earnings are benefiting more from mix/pricing/cost factors than consistent revenue growth.

Balance Sheet

Capital position looks reasonable with equity growing steadily (from ~4.85B in 2021 to ~6.41B in 2025) and returns on equity remaining strong (~16–17% in 2024–2025). Leverage is a key watch item: debt-to-equity improved materially from very elevated levels in 2022–2023 (~4.4x and ~3.8x) down to ~1.6x in 2024–2025, but total debt still increased in 2025 and, for a bank, balance-sheet risk can re-emerge quickly if funding conditions tighten.

Cash Flow

Cash flow quality is the biggest concern due to large swings: operating and free cash flow were strongly positive in 2020–2021, turned sharply negative in 2022, recovered to positive in 2023–2024, and then fell deeply negative again in 2025 (operating cash flow about -9.9B; free cash flow about -10.0B). While banks can show volatile cash flows due to balance-sheet movements, the magnitude and reversals reduce confidence in cash generation consistency relative to reported profits.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.99B	4.71B	5.20B	4.38B	2.49B	2.17B
Gross Profit	3.04B	3.08B	3.08B	2.91B	2.26B	2.00B
EBITDA	1.41B	1.64B	1.45B	1.31B	865.13M	614.50M
Net Income	1.02B	1.09B	952.97M	844.79M	560.20M	1.33B
Balance Sheet
Total Assets	131.73B	131.02B	121.97B	113.01B	107.51B	107.58B
Cash, Cash Equivalents and Short-Term Investments	13.12B	15.00B	18.01B	16.11B	13.35B	24.02B
Total Debt	10.17B	10.38B	9.71B	20.14B	21.64B	7.74B
Total Liabilities	125.52B	124.61B	116.09B	107.69B	102.60B	102.73B
Stockholders Equity	6.21B	6.41B	5.88B	5.32B	4.90B	4.85B
Cash Flow
Free Cash Flow	0.00	-9.95B	1.79B	568.04M	-8.11B	6.98B
Operating Cash Flow	0.00	-9.91B	1.94B	658.42M	-8.03B	7.05B
Investing Cash Flow	0.00	9.21B	-120.80M	-44.23M	-234.05M	-63.91M
Financing Cash Flow	0.00	282.44M	-262.44M	-105.81M	-752.85M	341.85M

Bankinter Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 14.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:BKT, the sentiment is Positive. The current price of 14.4 is above the 20-day moving average (MA) of 14.25, above the 50-day MA of 14.21, and above the 200-day MA of 12.82, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 54.33 is Neutral, neither overbought nor oversold. The STOCH value of 72.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:BKT.

Bankinter Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UNI	75 Outperform	$6.94B	10.98	8.76%	5.80%	-9.39%	45.60%
SAN	73 Outperform	£158.33B	11.86	12.91%	1.82%	-16.49%	14.32%
CABK	70 Outperform	€73.82B	13.23	15.73%	4.05%	-7.50%	12.76%
BBVA	68 Neutral	€112.47B	11.22	18.66%	3.39%	5.66%	8.16%
SAB	66 Neutral	€16.12B	10.14	7.75%	7.43%	-6.77%	-39.63%
BKT	64 Neutral	€12.74B	11.69	16.71%	3.64%	-7.12%	15.96%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%