Blog

  • Merkur PrivatBank (XTRA:MBK) Margin Strength Reinforces Bullish Narrative, Despite Revenue Growth Lag

    Merkur PrivatBank (XTRA:MBK) Margin Strength Reinforces Bullish Narrative, Despite Revenue Growth Lag

    Merkur PrivatBank (XTRA:MBK) delivered earnings growth of 11.8% over the past year, outpacing its 5-year average of 0.9% per year. Net profit margins ticked up to 9.4% from 9.3%, and earnings are forecast to grow at 9.84% per year moving forward. However, revenue growth of 3.1% per year lags the German market average of 6%. With high-quality past earnings and an attractive dividend, investors are eyeing continued profit growth, despite a premium valuation compared to the broader banking sector.

    See our full analysis for Merkur PrivatBank KgaA.

    Up next, we will look at how the latest performance lines up with the most widely followed narratives for Merkur PrivatBank. This will help clarify where the market view holds up and where fresh numbers are shaking things up.

    Curious how numbers become stories that shape markets? Explore Community Narratives

    XTRA:MBK Earnings & Revenue History as at Oct 2025
    • Net profit margins reached 9.4%, holding slightly above last year’s 9.3%, a resilience that stands out even as revenue growth lags the broader German market average of 6% per year.

    • What is striking is how this margin stability heavily supports the case for Merkur PrivatBank’s strong operational efficiency compared to many mid-sized German banks.

      • Even with only 3.1% annual revenue growth versus industry averages, maintaining high margins suggests disciplined cost control is a core driver.

      • Additionally, the recent 11.8% annual earnings growth illustrates how margin strength is translating into bottom-line momentum and not just a one-off effect from external factors.

    • At a share price of €19.30, the company trades well above its DCF fair value of €8.70 and carries a 12.5x P/E, higher than the European Banks average of 9.8x but below its closest peer group’s 31.2x.

    • Consensus narrative highlights tension for value-focused investors, since MBK’s high-quality past earnings and attractive dividend offer upside, yet the current price premium means expectations for sustained profit growth are already factored into the valuation.

      • If the margin trend or growth pace slows, this valuation gap could become a concern given the bank is more expensive than the average European competitor.

      • On the other hand, if outperformance on profit metrics continues, the price could appear fairer compared to its sector peers, where much higher multiples are the norm.

    • No significant risks were identified in recent disclosures, while forward profit growth is forecast at 9.84% per year and revenue expansion is expected to continue, supporting a balanced reward profile.

    • Despite a premium stock price, strong recent profit numbers and dividend potential underpin the argument that shareholders stand to benefit from continued stability and sector resilience.

      • The lack of major flagged risks further reinforces the perception that MBK’s current positive momentum reflects underlying business durability, rather than a temporary uptrend.

      • Long-term earnings forecasts materially outpace the 5-year historical average, providing a case for optimism among investors seeking steady financial performance.

    Continue Reading

  • ‘As eldest son of Sarabhai family…,’ Actor Sumeet Raghavan breaks down remembering ‘dad’ Satish Shah in heartfelt post – Mint

    ‘As eldest son of Sarabhai family…,’ Actor Sumeet Raghavan breaks down remembering ‘dad’ Satish Shah in heartfelt post – Mint

    1. ‘As eldest son of Sarabhai family…,’ Actor Sumeet Raghavan breaks down remembering ‘dad’ Satish Shah in heartfelt post  Mint
    2. Veteran Indian actor Satish Shah, known for Sarabhai vs Sarabhai, passes away at 74  Dawn Images
    3. Sarabhai vs…

    Continue Reading

  • ‘Amazing’ Yamamoto fuels Dodgers with 2nd straight complete game

    ‘Amazing’ Yamamoto fuels Dodgers with 2nd straight complete game

    TORONTO — It had been 24 years since a starter put together consecutive…

    Continue Reading

  • Waterproof Xiaomi headphones with swimming sensors and offline music storage now available via import

    Waterproof Xiaomi headphones with swimming sensors and offline music storage now available via import

    The Bone Conduction Headphones 2 are designed for swimming (Image source: Xiaomi)

    The Bone Conduction Headphones 2 from Xiaomi are now available via import. These headphones can be used while swimming and even track some data. They also come…

    Continue Reading

  • Strands NYT Hints, Spangram, and Answer for Today, October 26, 2025

    Strands NYT Hints, Spangram, and Answer for Today, October 26, 2025


    If you’re looking for hints and answers for Strands for Sunday, October 26, 2025, read on—I’ll share some clues and tips, and finally the solution to the puzzle with the theme “Fall-ing.”

    For an easy way to come back to…

    Continue Reading

  • Just a moment…

    Just a moment…

    Continue Reading

  • Trump raises tariffs on Canada by 10% in retaliation for anti-tariff TV ad | Trump tariffs

    Trump raises tariffs on Canada by 10% in retaliation for anti-tariff TV ad | Trump tariffs

    Donald Trump announced on Saturday that he will raise US tariffs on Canada by 10% in retaliation for an anti-tariff advertisement sponsored by the Ontario government, which has further strained one of the world’s largest trade partnerships.

    The…

    Continue Reading

  • Fire 5 Pro: Smartphone with huge 13,000mAh battery doubles as a power bank

    Fire 5 Pro: Smartphone with huge 13,000mAh battery doubles as a power bank

    The Fire 5 Pro is a rugged smartphone with an enormous battery capacity (Image source: Doogee)

    The Fire 5 Pro is a new smartphone that’s now available on Amazon. It’s supposed to be durable and is equipped with a very large battery….

    Continue Reading

  • Perioperative Durvalumab Plus FLOT Generates OS Benefit in Gastric/GEJ Adenocarcinoma

    Perioperative Durvalumab Plus FLOT Generates OS Benefit in Gastric/GEJ Adenocarcinoma

    Treatment with the anti–PD-L1 monoclonal antibody durvalumab (Imfinzi) plus 5-fluorouracil-leucovorin-oxaliplatin-docetaxel (FLOT) produced a statistically significant and clinically meaningful improvement in overall survival (OS) among patients with resectable gastric/gastroesophageal junction (GEJ) adenocarcinoma vs placebo plus FLOT, regardless of pathological status, according to results from the phase 3 MATTERHORN trial (NCT04592913) presented during the 2025 ESMO Congress.1

    With a data cutoff date of September 1, 2025, the final OS analysis of the intention-to-treat population yielded a hazard ratio (HR) of 0.78 (95% CI, 0.63–0.96; P = .021) comparing the investigational arm with the control arm, with median OS not reached in either arm.

    “The OS results of the MATTERHORN study strongly support the use of durvalumab plus chemotherapy with FLOT as a new global standard of care for patients with localized, [resectable, gastric/GEJ] adenocarcinoma,” said Josep Tabernero, MD, PhD, professor of medicine, head of the Department of Medical Oncology at Vall d’Hebron University Hospital, and director of Vall d’Hebron Institute of Oncology, Barcelona, Spain, in his presentation.1

    Furthermore, a survival analysis stratified by demographic and clinical characteristics showed that OS improvement was consistent across most key subgroups. Notably, a similar improvement in OS was achieved regardless of PD-L1 status. In patients who were PD-L1-positive (PD-L1 TAP ≥1%), the HR was 0.79 (95% CI, 0.63–0.99), and the HR was 0.79 (95% CI, 0.41–1.50) in patients who were PD-L1-negative (PD-L1 TAP <1%), even demonstrating identical HRs across groups.

    Additional findings reported included an improvement in event-free survival (EFS), the study’s primary end point, among patients with any degree of pathological response and regardless of pathological nodal status at the time of the data cutoff on December 20, 2024.

    What Are the Study Design and Patient Characteristics?

    The phase 3 MATTERHORN trial is a global, randomized, double-blind, placebo-controlled study evaluating the efficacy of neoadjuvant-adjuvant durvalumab plus FLOT chemotherapy.2 The study’s primary end point is EFS; key secondary end points include OS and pathological complete response (pCR).

    The study population consists of 948 patients with localized gastric/GEJ adenocarcinoma who were treatment-naive upon enrollment. Patients were enrolled from across Asia, Europe, North America, and South America; of note, according Tabernero, is that 20% of patients were from Asia. Patients were stratified by geographical region, clinical lymph node status, and PD-L1 expression.

    For treatment, patients were randomly assigned 1:1 to receive either the durvalumab and FLOT combination or placebo plus FLOT (n = 474, both arms) in the neoadjuvant setting. Here, patients received their 1500 mg of their assigned treatment plus FLOT for 2 cycles before undergoing surgical resection 4 to 8 weeks after their last dose.3 Following surgical resection recovery, patients received 1500 mg of durvalumab or placebo as adjuvant therapy for up to 1 year.

    What Trial Data Have Been Previously Reported?

    In 2023, interim results with a data cutoff on February 1, 2023, suggested a significant and clinically meaningful benefit in pCR and near-PCR, with response rates of 27% and 14% observed in the investigational and control arms, respectively.4 Next, earlier in 2025, results of a primary end point analysis published in The New England Journal of Medicine revealed a 2-year EFS rate of 67.4% in the investigational arm vs 58.5% in the control arm.5 A consistent and manageable safety profile between arms was depicted in both reports.4,5

    Riding on the favorable efficacy and safety trends observed in previous analyses, this most recent readout highlights the potential of durvalumab and FLOT to become a new perioperative treatment option for patients.

    Disclosures: Tabernero declared a consulting role with Accent Therapeutics, Alentis Therapeutics, AstraZeneca, Boehringer Ingelheim, Bristol Myers Squibb, Carina Biotech, Cartography Biosciences, Chugai Pharmaceutical, Daiichi Sankyo Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Genentech, Johnson & Johnson, Menarini Ricerche S.p.A, Merus N.V., MSD, Novartis, Ono Pharma USA, Peptomyc, Pfizer, Pierre Fabre, Quantro Therapeutics, Scandion Oncology, Scorpion Therapeutics, Servier, Sotio Biotech, Taiho Pharmaceutical, Takeda Pharmaceutical International AG, and Tolremo Therapeutics, and stocks with 1 TRIAL SP, Alentis Therapeutics, Oniria Therapeutics and Pangaea Oncology.

    References

    1. Tabernero, J. Final overall survival (OS) and the association of pathological outcomes with event-free survival (EFS) in MATTERHORN: A randomised, phase III study of durvalumab (D) plus 5-fluorouracil, leucovorin, oxaliplatin and docetaxel (FLOT) in resectable gastric / gastroesophageal junction (G / GEJ) adenocarcinoma. Presented at: ESMO 2025 Congress; October 17–20, 2025; Berlin, Germany. Abstract LBA81.
    2. Assessing durvalumab and FLOT chemotherapy in resectable gastric and gastroesophageal junction cancer. ClinicalTrials.gov. Updated April 3, 2025. Accessed October 17, 2025. https://clinicaltrials.gov/study/NCT04592913
    3. Janjigian YY, Van Cutsem E, Muro K, et al. MATTERHORN: phase III study of durvalumab plus FLOT chemotherapy in resectable gastric/gastroesophageal junction cancer. Future Oncol. 2022;18(20):2465-2473. doi:10.2217/fon-2022-0093
    4. Janjigian YY, Al-Batran SE, Wainberg Za, et al. LBA73 Pathological complete response (pCR) to durvalumab plus 5-fluorouracil, leucovorin, oxaliplatin and docetaxel (FLOT) in resectable gastric and gastroesophageal junction cancer (GC/GEJC): Interim results of the global, phase III MATTERHORN study. Ann Oncol. 2023;34:S1315-S1316. doi: 10.1016/j.annonc.2023.10.074
    5. Janjigian YY, Al-Batran SE, Wainberg ZA, et al. Perioperative durvalumab in gastric and gastroesophageal junction cancer. NEJM. 2025;393(3):217-230. doi: 10.1056/nejmoa2503701

    Continue Reading