Itaú Unibanco Holding stock: fair value
ITUBThe fair value of Itaú Unibanco Holding under our model is $8.01, the price is 8% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Fairly valuedIn our model the price counts as cheap below $5.72 and expensive above $13.36 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $5.73 (excess return model) and $10.30 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 14%. At 15% the fair value would be $7.63, at 13% it would be $8.54.
Where the number comes from
Half from the excess return model, half from earnings times the industry P/E (13.4).
Excess return model for banks and insurers: book value plus the value of returns above the cost of equity of 14.0% (government bond yield 7.5% plus beta 0.86 times a risk premium of 7.5%).
Calculate with your own assumptionsThe calculation step by step
With these figures the excess return model arrives at $5.73 per share: book value plus the value of what the company earns above its cost of equity over time. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Step | Value |
|---|---|
| Book value per share | $3.70 |
| Stable earnings per share (book value × median return on equity of the last five fiscal years) | $0.65 |
| Return on equity in the model (median of the last five fiscal years) | 17.5% |
| Cost of equity | 14.0% |
| Excess return per share: (return − cost) × book value | $0.13 |
| Terminal value of excess returns: excess return / (14.0% − 7.5%) | $2.04 |
| Value per share (book value plus terminal value) | $5.73 |
| Earnings per share, last twelve months | $0.77 |
| × 13.4 (industry P/E) | $10.30 |
| Fair value (average of both parts) | $8.01 |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = R$5.6169)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 6 Nov 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.