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Banco Bradesco SA
(NYSE:BBD)
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Rating:53Neutral
Price Target:
$3.50
â–˛(2.04% Upside)
Action:Reiterated
Date:06/06/26
The score is held back primarily by weak financial quality—especially persistently negative operating and free cash flow and high leverage—alongside bearish technical signals (below major moving averages and negative MACD). These risks are partly offset by relatively attractive valuation (low P/E) and a high dividend yield.
Positive Factors
Recurring profit and revenue growth
Sustained quarterly profit gains and a meaningful top‑line recovery signal a resilient core banking franchise. Recurrent net income growth driven by net interest income, fees and insurance suggests diversified income streams and operational resilience that support durable earnings through cycles and fund reinvestment and payouts.
Negative Factors
Negative cash generation
Persistently negative OCF and FCF represent a structural deterioration in internal funding ability. Over months this reduces flexibility to fund dividends, buybacks, capex or M&A without external financing, increasing reliance on wholesale funding and exposing the bank to funding and liquidity risk if market conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring profit and revenue growth
Sustained quarterly profit gains and a meaningful top‑line recovery signal a resilient core banking franchise. Recurrent net income growth driven by net interest income, fees and insurance suggests diversified income streams and operational resilience that support durable earnings through cycles and fund reinvestment and payouts.
Read all positive factors
Banco Bradesco SA (BBD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$35.25B
Dividend Yield7.89%
Average Volume (3M)31.99M
Price to Earnings (P/E)9.1
Beta (1Y)0.42
Revenue Growth28.16%
EPS Growth28.12%
CountryUS
Employees82,095
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.14
Shares Outstanding5,288,141,000
10 Day Avg. Volume33,183,597
30 Day Avg. Volume31,987,261
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.08
Price to Sales (P/S)0.56
P/FCF Ratio-0.61
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.53
Revenue Forecast (FY)$29.61B
Banco Bradesco SA Business Overview & Revenue Model
Company Description
Banco Bradesco S.A., along with its affiliated entities, functions as a prominent financial institution delivering a broad spectrum of banking and financial services. These offerings cater to individual clients, corporate organizations, and variou...
How the Company Makes Money
Bradesco generates earnings primarily from a mix of interest-based income and fee-based financial services, complemented by insurance-related results and other financial income.
1) Net interest income (spread business): A core driver is earning i...
Banco Bradesco SA Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented a strong operational and financial progress story: recurring net income, ROAE, digital adoption, SME share gains, NII and capital markets growth, and a high‑performing insurance business were prominent positives. Management is investing heavily in technology and transformation (22% higher tech spend) which supports medium‑term productivity gains but kept near‑term operating expenses elevated. Capital (CET1) is being actively managed but faces regulatory/prudential headwinds and the bank signaled possible short‑term volatility from elections and market expectations. Overall, the highlights — material earnings growth, improving efficiency, robust digital and SME traction and strong insurance results — meaningfully outweigh the lowlights tied to higher OpEx, capital monitoring and some product‑level tradeoffs.Positive Updates
Strong recurring net income and ROAE
Recurring net income of BRL 6.5 billion in Q4 (+20.6% YoY) and BRL 24.7 billion for the full year (+26.1% YoY); ROAE reached 15.2% in the quarter, exceeding cost of capital.
Negative Updates
Operating expense growth and near-term cost pressure
Operating expenses increased +8.5% YoY (or +7.2% excl. EloPar and Cielo); drivers include higher technology spending (+22% YoY), increased profit‑sharing/variable compensation and some one‑time marketing/advertising choices, meaning OpEx growth remains above some analysts' expectations.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong recurring net income and ROAE
Recurring net income of BRL 6.5 billion in Q4 (+20.6% YoY) and BRL 24.7 billion for the full year (+26.1% YoY); ROAE reached 15.2% in the quarter, exceeding cost of capital.
Read all positive updates
Company Guidance
The company reiterated 2026 guidance for continued revenue and balance-sheet growth: expanded loan portfolio growth roughly in the mid-to-high single digits (management cited ranges around ~8.5%–10.5% and referenced ~9.5% as a planning point), operating expenses guided to grow about 8% (with ~3% of that attributable to technology investments and the remainder roughly in line with inflation/personnel), CET1 capital expected to be around 11% through 2026, and interest on equity budgeted above BRL 15 billion. Management expects continued ROAE improvement from the Q4 2025 level of 15.2% and reiterated targets to raise scale and efficiency (efficiency ratio down to ~50% in 2025 with a medium‑term ambition of ~40% by 2028). Other explicit operational targets include growing digital retail from 19 million toward ~40 million clients in 2026, upgrading the affluent base to ~4.7 million (Principal ~800,000 clients and ~50 new offices), further SME penetration after reaching ~16.6% market share, and sustaining strong insurance performance (insurance growth/operations previously guided at ~16.1%, technical provisions ~BRL 446 billion); overall recurring net income in 2025 was BRL 24.7 billion (Q4 BRL 6.5 billion), which management expects to build on in 2026.Banco Bradesco SA Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
45
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 360.70B | 342.23B | 249.61B | 254.71B | 239.65B | 157.55B |
| Gross Profit | 121.07B | 118.43B | 78.69B | 68.16B | 82.50B | 93.07B |
| EBITDA | 3.02B | -3.56B | 23.63B | 16.73B | 30.28B | 38.63B |
| Net Income | 22.78B | 23.21B | 17.25B | 14.25B | 21.22B | 23.17B |
Balance Sheet | ||||||
| Total Assets | 2.44T | 2.33T | 2.07T | 1.93T | 1.79T | 1.68T |
| Cash, Cash Equivalents and Short-Term Investments | 305.33B | 278.36B | 292.77B | 41.54B | 28.55B | 21.28B |
| Total Debt | 821.64B | 798.39B | 689.53B | 359.49B | 338.99B | 284.55B |
| Total Liabilities | 2.25T | 2.15T | 1.90T | 1.76T | 1.63T | 1.53T |
| Stockholders Equity | 179.76B | 178.42B | 168.41B | 166.33B | 159.53B | 149.78B |
Cash Flow | ||||||
| Free Cash Flow | -32.45B | -315.80B | -93.62B | -9.32B | 32.35B | -106.41B |
| Operating Cash Flow | -23.13B | -310.78B | -91.33B | -177.63M | 41.77B | -102.00B |
| Investing Cash Flow | 10.08B | 59.83B | -5.01B | 83.61B | -17.78B | -19.31B |
| Financing Cash Flow | 127.59B | 236.53B | 117.88B | -23.06B | 21.92B | -1.61B |
Banco Bradesco SA Technical Analysis
Positive
3.43
Price Trends
3.46
Positive
3.61
Negative
3.52
Positive
Market Momentum
0.04
Negative
54.24
Neutral
55.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BBD, the sentiment is Positive. The current price of 3.43 is below the 20-day moving average (MA) of 3.46, below the 50-day MA of 3.46, and below the 200-day MA of 3.52, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 54.24 is Neutral, neither overbought nor oversold. The STOCH value of 55.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BBD.
Banco Bradesco SA Risk Analysis
Banco Bradesco SA disclosed 42 risk factors in its most recent earnings report. Banco Bradesco SA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Banco Bradesco SA Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $21.65B | 8.95 | 17.47% | 10.29% | -1.31% | -42.23% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $15.53B | 14.39 | 20.90% | 4.29% | -3.09% | 2.72% | |
61 Neutral | $20.37B | 16.82 | 20.11% | 5.56% | -7.31% | -7.03% | |
60 Neutral | $6.12B | 24.68 | 7.28% | 2.37% | 6.98% | 6551.65% | |
58 Neutral | $19.49B | 31.35 | 11.11% | 4.98% | 17.17% | -1.33% | |
53 Neutral | $35.25B | 9.11 | 13.55% | 2.48% | 28.16% | 28.12% |
* Financial Sector Average
BBD
Banco Bradesco SA
3.54
0.88
33.08%
BCH
Banco De Chile
40.14
12.67
46.11%
BMA
Banco Macro SA
90.14
29.17
47.85%
BSBR
Banco Santander Brasil
5.24
0.71
15.75%
BSAC
Banco Santander Chile
32.83
9.70
41.95%
CIB
Grupo Cibest
80.41
36.18
81.80%
Banco Bradesco SA Corporate Events
Banco Bradesco Approves R$3.5 Billion Interim Interest on Shareholders’ Equity
Jun 24, 2026
On June 23, 2026, Banco Bradesco’s board of directors approved the executive officers’ proposal to pay R$3.5 billion in interim interest on shareholders’ equity, equivalent to R$0.315359035 per common share and R$0.346894939 per ...
Banco Bradesco Details May 2026 Insider Holdings and Board Changes
Jun 11, 2026
In a June 2026 filing, Banco Bradesco reported that its controlling shareholder group and dependent family members made no trades in securities or derivatives of the bank during May 2026, with their holdings in common and non-voting shares remaini...
Banco Bradesco Files Comprehensive May 2026 Form 6-K With Expanded Risk, Governance and ESG Disclosures
May 29, 2026
Banco Bradesco S.A. has filed a Form 6-K for May 2026 with the U.S. Securities and Exchange Commission, providing an extensive reference document that consolidates information on its history, operating segments, products and services, client conce...
Banco Bradesco Reports No Insider Trading Activity in April 2026
May 13, 2026
In a Form 6-K filing for May 2026, Banco Bradesco reported that in April 2026 there were no transactions in securities or derivatives by its controlling shareholder group and their dependent family members, and that their holdings of common and no...
Banco Bradesco Posts Strong 1Q26 Profit as Secured Lending and Transformation Drive Gains
May 7, 2026
In the first quarter of 2026, Bradesco reported its ninth consecutive quarterly rise in recurring net income, which reached R$6.8 billion, up 16.1% year-on-year, driven by a 14.0% increase in total revenue to R$36.9 billion and robust growth in ne...
Banco Bradesco Boosts Capital, Restructures Health Unit and Ramps Up AI in 1Q26
May 7, 2026
Banco Bradesco reported its consolidated financial statements for the first quarter of 2026, prepared under IFRS, against a backdrop of a Brazilian economy showing mixed signals, with restrictive monetary policy weighing on some sectors while tax ...
Banco Bradesco Posts Ninth Straight Quarterly Profit Gain on Revenue and Secured Credit Growth in 1Q26
May 7, 2026
In the first quarter of 2026, Bradesco reported recurring net income of R$6.8 billion, up 16.1% year-on-year and its ninth consecutive quarterly increase, driven by a 14.0% rise in total revenue to R$36.9 billion and stronger net interest income. ...
Banco Bradesco Completes Key Step in Healthcare Business Consolidation
May 1, 2026
On April 30, 2026, Banco Bradesco announced the completion of the merger of shares of Bradesco Gestão de Saúde S.A. into Bradsaúde S.A., the new corporate name of Odontoprev S.A., confirming the previously agreed exchange ratio with...
Banco Bradesco Clarifies Non-Material BRB Loan Portfolio Acquisition
Apr 16, 2026
Banco Bradesco S.A. disclosed that, through a 50-50 consortium with Itaú Unibanco, it has been acquiring loan portfolios originated by BRB Banco de Brasília and granted to Brazilian states and municipalities, as reported in a news articl...
Banco Bradesco Discloses March 2026 Insider Shareholdings and Trading Activity
Apr 14, 2026
In a Form 6-K filed for April 2026, Banco Bradesco reported that its controlling shareholder group and related family dependants held 3.81 billion common shares and 121.07 million non-voting shares at both the opening and close of March 2026, indi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.