Latest Ratios: P/E Ratio 8.2x · EV/EBITDA N/A · ROE 13.3%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $36.5B | $35.2B | $20.3B | $37.2B | $30.7B | $36.5B | $46.5B | $71.8B | $66.2B | $31.2B | $24.2B |
| Enterprise Value | $159.6B | $672.8B | $541.4B | $224.9B | $341.1B | $299.8B | $204.4B | $253.5B | $246.7B | $175.1B | $186.3B |
| P/E Ratio → | 8.16 | 1.52 | 1.17 | 2.61 | 1.45 | 1.58 | 2.94 | 3.18 | 3.99 | 1.83 | 1.35 |
| P/S Ratio | 0.55 | 0.10 | 0.08 | 0.15 | 0.13 | 0.23 | 0.36 | 0.45 | 0.46 | 0.19 | 0.13 |
| P/B Ratio | 1.06 | 0.20 | 0.12 | 0.22 | 0.19 | 0.24 | 0.32 | 0.53 | 0.53 | 0.27 | 0.23 |
| P/FCF | — | — | — | — | 0.95 | — | 0.34 | — | — | 1.04 | 0.49 |
| P/OCF | — | — | — | — | 0.73 | — | 0.33 | — | — | 0.88 | 0.45 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.97 | 2.17 | 0.88 | 1.42 | 1.90 | 1.56 | 1.61 | 1.71 | 1.05 | 0.99 |
| EV / EBITDA | — | — | 22.91 | 13.44 | 11.26 | 7.76 | 20.45 | 13.17 | 10.17 | 6.19 | 5.24 |
| EV / EBIT | — | — | 32.04 | 22.03 | 13.85 | 9.12 | 50.15 | 18.95 | 12.69 | 7.38 | 5.84 |
| EV / FCF | — | — | — | — | 10.54 | — | 1.48 | — | — | 5.85 | 3.81 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.6% | 34.6% | 31.5% | 26.8% | 34.4% | 59.1% | 48.6% | 54.9% | 51.2% | 44.6% | 43.2% |
| Operating Margin | -1.1% | -1.1% | 6.8% | 4.0% | 10.3% | 20.9% | 3.1% | 8.5% | 13.5% | 14.2% | 17.0% |
| Net Profit Margin | 6.8% | 6.8% | 6.9% | 5.6% | 8.9% | 14.7% | 12.1% | 13.3% | 11.5% | 10.2% | 9.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.3% | 13.3% | 10.3% | 8.7% | 13.7% | 15.6% | 11.2% | 16.2% | 13.7% | 15.3% | 18.2% |
| ROA | 1.1% | 1.1% | 0.9% | 0.8% | 1.2% | 1.4% | 1.1% | 1.6% | 1.3% | 1.4% | 1.6% |
| ROIC | -0.3% | -0.3% | 1.8% | 1.5% | 4.0% | 6.5% | 0.9% | 3.0% | 4.8% | 6.4% | 8.5% |
| ROCE | -0.3% | -0.3% | 1.1% | 0.6% | 1.4% | 2.0% | 0.3% | 1.0% | 1.5% | 2.0% | 2.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.46 | 4.46 | 4.08 | 2.15 | 2.12 | 1.89 | 1.24 | 1.48 | 1.61 | 1.35 | 1.67 |
| Debt / EBITDA | — | — | 29.17 | 21.49 | 11.19 | 7.37 | 18.18 | 10.43 | 8.25 | 5.61 | 4.97 |
| Net Debt / Equity | — | 3.56 | 3.08 | 1.12 | 1.94 | 1.75 | 1.08 | 1.34 | 1.45 | 1.22 | 1.54 |
| Net Debt / EBITDA | — | — | 22.05 | 11.22 | 10.25 | 6.82 | 15.79 | 9.44 | 7.44 | 5.08 | 4.56 |
| Debt / FCF | — | — | — | — | 9.59 | — | 1.14 | — | — | 4.81 | 3.32 |
| Interest Coverage | -0.03 | -0.03 | 0.12 | 0.07 | 0.19 | 0.60 | 0.08 | 0.23 | 0.35 | 0.31 | 0.35 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.25 | 0.25 | 0.35 | 4.70 | 3.62 | 7.00 | 3.97 | 6.11 | 2.92 | 2.51 | 2.36 |
| Quick Ratio | 0.25 | 0.25 | 0.35 | 4.70 | 3.62 | 7.00 | 3.97 | 6.11 | 2.92 | 2.51 | 2.36 |
| Cash Ratio | 0.14 | 0.14 | 0.18 | 19.44 | 3.62 | 7.00 | 3.97 | 6.11 | 2.92 | 2.51 | 2.36 |
| Asset Turnover | — | 0.15 | 0.12 | 0.13 | 0.13 | 0.09 | 0.08 | 0.11 | 0.11 | 0.14 | 0.16 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.3% | 33.6% | 32.3% | 24.0% | 11.9% | 27.2% | 3.1% | 24.7% | 9.9% | — | 23.2% |
| Payout Ratio | 51.0% | 51.0% | 37.9% | 62.6% | 17.2% | 42.8% | 9.0% | 84.4% | 39.4% | — | 31.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 12.3% | 65.8% | 85.3% | 38.3% | 69.1% | 63.3% | 34.0% | 31.4% | 25.0% | 54.7% | 74.1% |
| FCF Yield | — | — | — | — | 105.4% | — | 297.1% | — | — | 95.7% | 202.1% |
| Buyback Yield | 0.1% | 0.6% | 2.8% | 0.0% | 0.7% | 1.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.4% | 34.2% | 35.1% | 24.0% | 12.6% | 29.0% | 3.1% | 24.7% | 9.9% | 0.0% | 23.3% |
| Shares Outstanding | — | $10.6B | $10.6B | $10.6B | $10.7B | $11.7B | $10.7B | $10.7B | $10.7B | $5.4B | $5.4B |
Asset quality deterioration
Based on recent market data, BBD trades at a P/B of 1.06, which suggests the market is pricing the bank as a commodity balance sheet rather than a premium franchise, especially when compared to the higher multiples commanded by peers like Itaú Unibanco.
The current valuation appears to reflect investor skepticism regarding the bank's ability to improve its return on tangible equity in the near term. This discount may indicate that the market is discounting the potential for future earnings growth due to the persistent pressure from high provisioning costs and the ongoing digital transition.
As reported in financial statements, the bank's ROE has remained constrained, hovering between 0.9% and 3.5% over the last ten quarters, which highlights the significant impact of elevated loan loss provisions on the bank's bottom-line profitability and overall capital efficiency.
The DuPont decomposition suggests that profitability is currently hampered by a combination of thin net interest margins and high credit costs. Investors should monitor whether the bank can successfully pivot its loan book toward higher-quality segments to restore ROE to historical levels.
According to quarterly filings, the net interest margin has stagnated at 0.7% in the most recent period, indicating that the bank is struggling to expand its core lending spreads despite the high-interest-rate environment currently prevailing in the Brazilian domestic market.
The efficiency ratio, which reached 19.7% in 2026Q1, shows significant volatility, suggesting that the bank's legacy cost structure remains a primary drag on operating leverage. The inability to consistently control non-interest expenses may continue to pressure the bank's ability to generate sustainable operating income.
Based on reported figures, the equity-to-assets ratio has remained tight, consistently ranging between 0.07 and 0.09 over the last ten quarters, which indicates that the bank maintains a relatively lean capital buffer relative to its total asset footprint in the current economic cycle.
While this capital level appears adequate for current regulatory requirements, it leaves little room for error should credit quality deteriorate further. The bank's reliance on JCP for tax-efficient capital distribution warrants close monitoring, as any legislative changes could impact its ability to maintain these capital levels.
Investors frequently misapply the P/E ratio to BBD, which obscures the underlying volatility caused by cyclical loan loss provisions and tax-deductible JCP payments that artificially distort the bank's reported earnings and make the P/E metric a poor indicator of true operational performance.
A more appropriate approach for analyzing BBD would be to focus on P/TBV and normalized ROE, which better capture the bank's intrinsic value and capital-generating capacity. Relying on P/E in a high-provisioning environment may lead to misleading conclusions about the bank's valuation relative to its long-term earnings potential.
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying BBD stock.
Banco Bradesco S.A.'s current P/E ratio is 8.2x. The historical average is 3.7x. This places it at the 96th percentile of its historical range.
Banco Bradesco S.A.'s return on equity (ROE) is 13.3%. The historical average is 18.7%.
Based on historical data, Banco Bradesco S.A. is trading at a P/E of 8.2x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Banco Bradesco S.A.'s current dividend yield is 6.26% with a payout ratio of 51.0%.
Banco Bradesco S.A. has 34.6% gross margin and -1.1% operating margin.