KBC Ancora KBCA.BR
BelgiumFinancial Services · Asset ManagementEuronext Bruselas · EUR
112.00 EUR (+18.8%)
1 analysts
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KBC Ancora is a Belgian investment holding company whose main stake is a majority position in KBC Group, one of Belgium's largest banking and insurance groups, and its business model consists of holding and managing that stake to distribute dividends to its shareholders.
Listed on Euronext Bruselas · Symbol KBCA.BR · EBR: KBCA · Currency EUR
Key points
from its scores- ✓Good share-price trend9.1
- ✓Strong growth8.3
- ✓Favourable backdrop7.4
- ✕Little competitive advantage0.8
- ✕Demanding valuation3.2
AI analysis
bottom line, main risk, context and newsThe dividend and momentum are attractive, but concentration in a single asset and average valuation limit upside potential.
KBC Ancora offers a net dividend yield of 3.89% with an 85% payout, backed by 30.4% earnings growth and strong momentum (50.5% over 12 months). However, its quality is low (0.0% operating margin) and its valuation is not particularly attractive (P/E 18.6), reflecting its nature as a holding company with a concentrated stake in KBC Group.
Extreme concentration in KBC Group: any regulatory, market, or governance issue at the bank directly impacts the holding, and the holding discount could widen if the market penalizes the structure.
Context and risks
KBC Ancora is a holding company with a highly concentrated position in KBC Group, exposing investors to governance risk and the performance of a single stock. Although Belgium is a consolidated democracy with reasonable minority protection, the holding structure introduces a governance discount not captured by accounting metrics.
Is KBC Ancora stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 22% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 18.6 | 13.7 | +35% |
| Price / book | 2.0 | 1.9 | +9% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 3.2 out of 10 (median for Financial Services: 5.2).
Average analyst target: 112.00 EUR, +18.8% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 0.8 (sector 8.8), Growth 8.3 (sector 6.9).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 18.6
- Forward P/E
- 20.2
- Price / book
- 2.0
- PEG
- 0.66
- Market cap
- 7.3B EUR
- Enterprise value
- 7.3B EUR
Profitability
- ROE
- 10.9%
- ROA
- −0.1%
- Gross margin
- 0.0%
- Operating margin
- 0.0%
- Net margin
- 0.0%
- Free cash flow
- −4.7M EUR
- FCF yield
- −0.1%
Solvency
- Total debt
- 100.0M EUR
- Net debt
- 14.0M EUR
- Cash
- 86.0M EUR
- Debt / equity
- 2.79
- Current ratio
- 0.85
- Quick ratio
- 0.85
Growth
- Earnings growth
- +30.4%
- EPS (TTM)
- 5.08 EUR
- EPS (forward)
- 4.67 EUR
Dividend
- Dividend yield
- 4.6%
- Payout
- 85.1%
Risk and market
- Beta
- 0.63
- Analyst consensus
- Strong buy (1)
- Target price
- 112.00 EUR
- 52-week range
- 65.00 – 100.20
Recent news
All KBCA.BR news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about KBC Ancora
Is KBC Ancora stock cheap or expensive?
On P/E and Price / book, it trades 22% above the Financial Services median on average. Valuation score: 3.2 out of 10 (median for Financial Services: 5.2). Average analyst target: 112.00 EUR, +18.8% versus the price. This is not investment advice.
What score does KBC Ancora get on MeridIAn Screener?
It scores 4.9 out of 10, rank 1,752 of 2,130 (better than 17% of the companies analysed). Its strongest category is Momentum (9.1) and its weakest, Quality / Moat (0.8). Analysis of 08/10/2026.
What is KBC Ancora's P/E ratio?
Its P/E is 18.6: the share price equals 18.6 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 20.2.
How much is KBC Ancora worth on the stock market?
Its market capitalisation is 7.3B EUR.
Does KBC Ancora pay a dividend?
Yes: its dividend yield is 4.58% and it pays out 85% of its earnings.
How has KBC Ancora stock performed over the last year?
It has risen 50.6% over the last year, excluding dividends. Over the last 52 weeks it has traded between 65.00 and 100.20 EUR. Past performance does not guarantee future results.
What do analysts think of KBC Ancora?
1 analysts cover it; their average recommendation is “Strong buy” and their average target is 112.00 EUR (+18.8% versus the price). It is an estimate, not market data.