Bendigo and Adelaide Bank Limited (BXRBF)
NEUTRALFundamental
51
Kurs
$10.85
Marktkapitalisierung
$5.89B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Bendigo and Adelaide Bank is an Australian retail and business bank built around a network of Community Bank branches — locally owned franchises that share profits with the towns they serve — plus Up, a separate digital-only bank aimed at younger customers. It takes deposits and makes home, business and agricultural loans across Australia, with the country's second-largest regional branch network and the only ASX100 head office based outside a state capital.
Wie das Geld verdient wird
The bank earns net interest income on the spread between what it pays depositors and charges borrowers, plus fees from banking services; net interest margin was 1.88% in the 2025 financial year. Around three-quarters of its loan book is home mortgages, funded mostly by customer deposits rather than wholesale borrowing, which keeps funding costs relatively low but leaves earnings sensitive to how central bank rate cuts squeeze the gap between deposit and lending rates.
Wettbewerbsvorteil
Marke · SchmalThe Community Bank model — local franchises that return a share of profit to their town rather than to shareholders alone — has built unusually high customer trust: Bendigo's Net Promoter Score sits about 36 points above the industry average, and its funding is 77% customer deposits versus lower shares at the major banks. That loyalty is real, but the underlying banking products are still substitutable.
Was die Nachfrage antreibt
Mäßig zyklischLoan growth and credit quality follow the health of the Australian economy — unemployment, house prices and interest rates all move Bendigo's arrears and lending volumes — but a retail deposit-funded bank is more insulated from sudden shocks than a wholesale-funded lender. Residential mortgage arrears rose to 0.82% in the 2025 financial year, still low but trending up from a 2022 trough.
Die Argumente dafür
Buyers argue that the Community Bank model gives Bendigo unusually loyal, low-cost deposit funding and a trust score well above the major banks, and that the Up digital brand is finally approaching profitability after six years of fast customer growth, giving the bank two distinct paths to growth.
Die Argumente dagegen
Sellers fear that a $539.5 million goodwill impairment and rising operating expenses pushed the bank to a statutory loss in the 2025 financial year, and that margin pressure from falling interest rates will keep outpacing the cost savings management is promising for years to come.
Written by the editors, published on 18. August 2026
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Bilanz & Liquidität
Umsatz
$1.66B
Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie
Nettogewinn
$-109M
Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie
Freier Cashflow
$1.68B
Gesamtes Eigenkapital
$6.67B
Gesamtverbindlichkeiten
$96.55B
Current Ratio
-
Zinsdeckungsgrad
-
Schulden/EBITDA
-
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$62.17
Aktueller Kurs
$10.85
Sicherheitsmarge
+82.5%
Innerer-Wert-Spanne
$40.41 - $83.93
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
-
ROE
-1.5%
P/B-Verhältnis
0.89
P/FCF
3.51
Bruttomarge
-
ROIC
-
Rentabilitäts-Radar
Value Creation (Economic Moat)
ROIC
-
WACC
3.9%
ROIC − WACC
-
Fundamentalanalyse-Kriterien
Bestanden (8)
- P/FCF 3.51
- P/B Ratio 0.89
- Operating Margin 37.3%
- Positive Free Cash Flow
- CapEx intensity
- DCF valuation (Undervalued)
- Revenue Growth 5Y 5.1%
- Share Dilution -0.2%
Nicht bestanden (8)
- EPS shows upward trend
- Price CAGR -1.81%
- Debt/Equity ratio
- ROE -1.3%
- Analyst Consensus 11% Buy
- Earnings Surprise avg -4.1%
- Net Margin Trend -5.1% vs 27.0%
- Piotroski F-Score 3/9
Nicht verfügbar (11)
- ROIC NaN%
- Gross Margin NaN%
- Dividend Payout NaN%
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-Score
Ernsthafte finanzielle Bedenken
Gewinnqualität
Niedrige Qualität: Rechnungslegung prüfen
Aktienverwässerung
Aktienrückkäufe. Aktionärsfreundlich
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Richard Allan Fennell BEc, CA, MAICD | CEO, MD & Director | 56 |
| Mr. Andrew Robert Morgan B.Com., FCPA | Chief Financial Officer | - |
| Mr. Bruce Speirs BCom, CA, GAICD, MBA | Chief Operating Officer | - |
| Mr. Kieran O'Meara B.Sc. | Chief Technology Officer | - |
| Mr. Adam Rowse M.B.A. | Chief Customer Officer | - |
| Ms. Kerrie Noonan B.Com. | Chief Risk Officer | - |
| Samantha Miller | Head of Investor Relations & ESG | - |
| Mr. Steven J Blackburn B.A., J.D., L.L.B. | Chief Compliance, Financial Crime & Regulatory Affairs Officer | - |
| James Frost | Head of Public Relations | - |
| Ms. Sarah Bateson | Chief Marketing Officer | - |
Prüfungsrisiko
2
Vorstandsrisiko
1
Vergütungsrisiko
3
Aktionärsrechterisiko
1
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Latest News
Recent headlines for BXRBF, sourced from Markets Gazette.