Stock fact sheet · data as of
Banco Santander (Brasil) S.A. (BSBR): fair value, margin of safety and Wheel Score
Ticker symbol BSBR · Financial Services · Banks - Regional · Brazil · ADR · Blend Income
Is BSBR undervalued?
At 4.76 (close of 5 Nov 2026), BSBR trades 46% below the GLS average fair value of 8.85. That average comes from 9 models run on the latest filings, and 5 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Banco Santander (Brasil) S.A. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between GLS Growth (1.26) and 10 Cap (27.21). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for BSBR, so the nightly engine files it under Blend (value score 59, growth score 53, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for BSBR
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 4.04 | -15% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 4.66 | -2% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 12.33 | +159% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 4.96 | +4% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 1.26 | -73% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 27.21 | +472% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 15.82 | +232% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 5.83 | +23% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 3.51 | -26% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -21.24 | -546% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 6.10 | +28% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Banco Santander (Brasil) S.A. scores 6 of 9 on the Piotroski F-score: a middling result that passes the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 7.5/10 puts BSBR among the more durable businesses we track: over up to ten years its returns on capital have stayed high, its margins steady and its balance sheet sound.
Returns on capital are moderate - ROIC 5.0%, ROE 10.2%, ROA 1.0% - with debt at 1.04 times equity and a free-cash-flow yield of 36.6%.
The dividend yield is high at 8.33% (payout ratio 34%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 1/10, insider activity 3/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 28 Aug 2026.
| Piotroski F-score | 6 / 9 | ROIC | 5.0% |
|---|---|---|---|
| GLS Moat | 7.5 / 10 | ROE | 10.2% |
| Debt / equity | 1.04 | ROA | 1.0% |
| Free-cash-flow yield | 36.6% | Payout ratio | 34% |
| Institutions | 1 / 10 | Insiders · Congress | 3 · 5 / 10 |
Wheel Score 37: Weak
With a Wheel Score of 37 Banco Santander (Brasil) S.A. sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (389 open interest, 69 a day); and filter 7, a premium worth selling - implied volatility 218% (over 80%); and filter 9, not a penny stock - price 4.76 (under $5); Premium (weak) is its weakest part.
Implied volatility is 218%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is thin - 389 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 2.3M shares a day on a market cap of $35.6B, with a beta of 0.18 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (389 open interest, 69 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 218% (over 80%) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Fails | price 4.76 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 46% below fair value | |
| Premium | Weak | implied volatility 218% | |
| Moat | Good | moat 7.5/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Fair | Red Flags score 72/100 | |
| Option trading | Weak | 69 contracts a day, 389 open interest | |
| Stability | Strong | beta 0.18, $35.6B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 3 Feb 2027, 90 days away - outside the window of a 30-45-day put sold today.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Banco Santander (Brasil) S.A. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| HBANL Huntington Bancshares Incorporated | 24.69 | 21.93 | -13% | 23No options | $34.1B |
| NWG NatWest Group plc | 16.55 | 70.41 | +76% | 50Fair | $33.5B |
| HBANZ Huntington Bancshares Incorporated | 18.20 | 15.90 | -14% | 15No options | $32.8B |
| HBANM Huntington Bancshares Incorporated | 18.95 | 19.20 | +1% | 23No options | $32.5B |
| MTB M&T Bank Corporation | 224.64 | 367.14 | +39% | 75Good | $32.4B |
| HBAN Huntington Bancshares Incorporated | 16.06 | 17.83 | +10% | 41Weak | $32.4B |
| HBANP Huntington Bancshares Incorporated | 15.02 | 17.34 | +13% | 28No options | $31.9B |
| KB KB Financial Group Inc. | 114.98 | 238.31 | +52% | 49Weak | $40.6B |
| SHG Shinhan Financial Group Co., Ltd. | 65.06 | 212.28 | +69% | 52Fair | $30.1B |
| BBD Banco Bradesco S.A. | 2.57 | 17.92 | +86% | 59Fair | $28.3B |
| CFG Citizens Financial Group, Inc. | 65.90 | 79.25 | +17% | 70Good | $27.6B |
| FCNCP First Citizens BancShares, Inc. | 18.13 | 2,716.08 | +99% | 40No options | $27.3B |
⚖ Compare BSBR with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about BSBR
Is BSBR undervalued right now?
By the GLS models, yes: at 4.76 the stock is 46% below the average fair value of 8.85 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of BSBR and what does it mean?
BSBR scores 37 out of 100 (Weak) - it fails Wheel Trade Filters 1, 7, 9. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for BSBR?
8.85 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Banco Santander (Brasil) S.A. report earnings next?
The next earnings report is due on 3 Feb 2027, 90 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does BSBR have listed options, and how liquid are they?
Yes. The nightly snapshot found 4 listed contracts with 389 open interest across all expiries and implied volatility of 218% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.