Is AAVMY undervalued?

AlphaMadera's AlphaVal page classifies ABN AMRO Bank N.V. as a Banks, Insurers & Asset Managers business and values it using P/Tangible Book × ROE Quality, then compares the result to the current market price to flag AAVMY as undervalued, fairly valued, or overvalued.

What is ABN AMRO Bank N.V.'s fair value?

Fair value for AAVMY comes from a P/Tangible Book × ROE Quality model -- the approach AlphaVal selected for this company's Banks, Insurers & Asset Managers classification. The live AlphaVal page shows bear, base, and bull scenarios alongside the key assumption behind each.

How does AlphaMadera value AAVMY?

AlphaVal routes each company to one of ten valuation archetypes based on its business model. AAVMY was classified as Banks, Insurers & Asset Managers and is valued using P/Tangible Book × ROE Quality, built from AAVMY's most recent reported fundamentals.

AAVMY - ABN AMRO Bank N.V.

Price: -- -- | CONSENSUS: Buy DETAILS

AlphaVal

Deterministic, archetype-aware fair value

Banks, Insurers & Asset Managers 90% confidence

Primary model: P/Tangible Book × ROE Quality

Valuation Signal Overvalued Moderate

Trading 19.5% above fair value

Current Price $45.38

Bear Case $19.71 56.6% downside ($19.71 - $45.38) / $45.38 = -56.6% ROTCE 6.2% → 0.53x TBV

Fair Value $37.98 16.3% downside ($37.98 - $45.38) / $45.38 = -16.3% ROTCE 8.3% → 1.03x TBV

Bull Case $48.94 7.8% upside ($48.94 - $45.38) / $45.38 = 7.8% ROTCE 9.6% → 1.33x TBV

Adjust Assumptions

Return on Tangible Equity

8.3%

Cost of Equity

8.2%

Key Value Driver

ROTCE (8.3%) vs. cost of equity (8.2%)

Terminal Value % of EV

Implied Market Multiple 1.23x

Market is pricing in (growth)

Plain-Language Summary

With ROTCE of 8.3% vs. 8.2% cost of equity, fair P/TBV is 1.03x on $36.90 tangible book, implying $37.98 per share.

Warnings

⚠ Traditional cash flow models don't work well for banks — lending activity distorts how much cash the business actually generates.

⚠ Common valuation shortcuts don't apply here — for banks, interest payments are a core business cost, not overhead.

ℹ Financial statements were converted from EUR into USD using EURUSD at 1.1231 USD per EUR.

Key Risks

Book value quality matters as much as level — check loan loss reserves
Interest rate sensitivity creates non-linear earnings surprises
Insurance reserving is actuarial, not financial — errors emerge slowly