Stock fact sheet · data as of
Banco Santander (Brasil) S.A. (BSBR): fair value, margin of safety and Wheel Score
Financial Services · Banks - Regional · Brazil · ADR · High Yield Income
Is BSBR undervalued?
At 5.59 (close of 16 Oct 2026), BSBR trades 75% below the GLS average fair value of 22.36. That average comes from 9 models run on the latest filings, and 6 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 (1.43) and 10 Cap (92.50). 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.
The nightly engine files BSBR under High Yield Income: a dividend yield above 4%.
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 | 4.46 | -20% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 26.71 | +378% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 14.17 | +154% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 5.69 | +2% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 1.43 | -74% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 92.50 | +1555% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 18.25 | +227% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 33.95 | +507% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 4.06 | -27% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -116.23 | -2179% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 6.10 | +9% | 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 Sunday Scan's "6 or more" rule. 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 4.2/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
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 21.6%.
The dividend yield is high at 8.11% (payout ratio 47%). 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 30 Sep 2026.
| Piotroski F-score | 6 / 9 | ROIC | 5.0% |
|---|---|---|---|
| GLS Moat | 4.2 / 10 | ROE | 10.2% |
| Debt / equity | 1.04 | ROA | 1.0% |
| Free-cash-flow yield | 21.6% | Payout ratio | 47% |
| Institutions | 1 / 10 | Insiders · Congress | 3 · 5 / 10 |
Wheel Score 71: Good
With a Wheel Score of 71 - the Good band - Banco Santander (Brasil) S.A. clears the Sunday Scan's "70 or higher" rule. The parts: Value 25/25, Health 13/20, Moat 6/15, Premium 7/20, Stability 20/20; Premium (7/20) scores lowest.
Implied volatility is 112% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (7 of 20) because volatility this high usually comes with a reason. Chain open interest is thin - 324 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 1.8M shares a day on a market cap of $41.9B, 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 gives that 20 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 75% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 6 / 15 | moat 4.2/10 | |
| Premium | 7 / 20 | implied volatility 112% | |
| Stability | 20 / 20 | 1.8M shares/day, $41.9B cap, beta 0.18 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Banco Santander (Brasil) S.A. reports earnings on 28 Oct 2026 - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk. The shares go ex-dividend on 22 Oct 2026 (0.0159 per share), so a covered call sold before then carries a small early-assignment risk around that date.
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 |
|---|---|---|---|---|---|
| KB KB Financial Group Inc. | 117.88 | 54,728.61 | +100% | 79Good | $41.7B |
| BBD Banco Bradesco S.A. | 4.03 | 44.33 | +91% | 86Prime | $43.5B |
| BBDO Banco Bradesco S.A. | 3.59 | 42.28 | +92% | 39No options | $40.1B |
| FITB Fifth Third Bancorp | 50.35 | 64.33 | +22% | 82Prime | $45.7B |
| NWG NatWest Group plc | 17.47 | 60.29 | +71% | 84Prime | $34.7B |
| FITBI Fifth Third Bancorp | 25.36 | 45.99 | +45% | 39No options | $50.5B |
| HBANL Huntington Bancshares Incorporated | 24.82 | 22.07 | -12% | 39No options | $34.2B |
| HBANZ Huntington Bancshares Incorporated | 18.56 | 16.29 | -14% | 25No options | $33.4B |
| SHG Shinhan Financial Group Co., Ltd. | 70.71 | 123,755.24 | +100% | 85Prime | $33.3B |
| MTB M&T Bank Corporation | 218.65 | 334.98 | +35% | 83Prime | $31.6B |
| TFC Truist Financial Corporation | 45.57 | 84.17 | +46% | 85Prime | $55.7B |
| HBANM Huntington Bancshares Incorporated | 19.48 | 19.52 | +0% | 39No options | $31.1B |
⚖ 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 5.59 the stock is 75% below the average fair value of 22.36 (data as of 16 Oct 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 71 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for BSBR?
22.36 per share as of 16 Oct 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 28 Oct 2026, 12 days from the data date of 16 Oct 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 42 listed contracts with 324 open interest across all expiries and implied volatility of 112% 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.