olivLaw · European equity research
AB Artea bankas ROE1L.VS
Lithuania · Nasdaq Vilnius · ISIN LT0000102253 · Vertical: Listed companies from Lithuania
AB Artea bankas is a Lithuanian-rooted bank offering retail and corporate banking, as well as pensions, investment funds and life insurance. Net profit fell in 2025 while deposits and loans grew, and management proposes distributing up to 70% of profit.
At the close of 05 Nov 2026, AB Artea bankas (ROE1L.VS) stock was 0.84 EUR (−5.82% on the day), with market capitalisation 567.8 m EUR, P/E 9.4 on diluted EPS of 0.09 EUR over the last 12 months, dividend yield 7.24%, beta 0.36, 52-week range 0.82–0.97 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 41.9
- weak (30–45)
- Bollinger (20, 2)
- 0.83 – 0.92
- in the lower half of the band · %B 0.16 · band width 9.9%
- SMA 50 / 200
- 0.88 / 0.90
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.01
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −5.8% | −0.6% | −5.2 pp | — |
| 3 months | −4.8% | −4.2% | −0.6 pp | — |
| 6 months | −7.6% | +4.3% | −11.9 pp | — |
| Year to date | −10.6% | +7.5% | −18.1 pp | — |
| 1 year | +3.1% | +9.9% | −6.9 pp | +12.4% |
| 3 years | +33.2% | +49.8% | −16.6 pp | +53.6% |
| 5 years | +9.8% | +42.8% | −33.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 3-quarter history (min 5.3, median 6.9, max 10.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | 75.4 m | 78.8 m | 60.7 m |
| Net income YoY | unavailable | +4.5% | −23.0% |
| Diluted EPS | 0.13 | 0.12 | 0.09 |
| Diluted EPS YoY | unavailable | −7.7% | −25.0% |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 390.1 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 603.1 m EUR
- Total assets
- 6.1 bn EUR
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 10.2%
- ROA
- 1.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Gross profit | — | 203.0 m | 189.8 m | esef· 10 Mar 2026verified |
| Operating income | 111.0 m | 107.3 m | 78.1 m | esef· 10 Mar 2026verified |
| Depreciation & amortisation | 5.5 m | 8.0 m | 7.7 m | esef· 10 Mar 2026verified |
| EBITDA | 116.5 m ≈ | 115.3 m ≈ | 85.8 m ≈ | esef· 10 Mar 2026derived |
| Pre-tax income | 95.7 m | 96.4 m | 74.3 m | esef· 10 Mar 2026verified |
| Income tax | 20.4 m | 17.7 m | 13.6 m | esef· 10 Mar 2026verified |
| Net income | 75.4 m | 78.8 m | 60.7 m | esef· 10 Mar 2026verified |
| Diluted EPS | 0.13 | 0.12 | 0.09 | esef· 10 Mar 2026verified |
| Dividend per share | 0.03 | 0.05 | 0.06 | esef· 10 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 751.5 m | 395.1 m | 390.1 m | esef· 10 Mar 2026verified |
| Property, plant & equipment, net | 15.8 m | 15.3 m | 15.5 m | esef· 10 Mar 2026verified |
| Total assets | 4.8 bn | 4.9 bn | 6.1 bn | esef· 10 Mar 2026verified |
| Total liabilities | 4.3 bn | 4.3 bn | 5.5 bn | esef· 10 Mar 2026verified |
| Equity | 543.1 m | 585.2 m | 603.1 m | esef· 10 Mar 2026verified |
| Shares outstanding at year end | 579.8 m | 656.6 m | 674.3 m | esef· 10 Mar 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 59.1 m | -529.7 m | 320.3 m | esef· 10 Mar 2026verified |
| Investing cash flow | 230.9 m | 63.3 m | -824.1 m | esef· 10 Mar 2026verified |
| Financing cash flow | 76.8 m | 110.0 m | 498.7 m | esef· 10 Mar 2026verified |
| Dividends paid | 15.9 m | 32.2 m | 39.7 m | esef· 10 Mar 2026verified |
| Share repurchases | 3.4 m | 8.4 m | 6.8 m | esef· 10 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 16.7% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 567.8 m EUR
Key indicators
Coverage and freshness
Score by group
17% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.64 – 1.13 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E0.64 – 1.07 (Mid 0.74)12 companies used · median multiple 8.2x · quartiles 7.1x – 11.9xAKO1L.VS, APG1L.VS, GRG1L.VS, INR1L.VS, IVL1L.VS, KNE1L.VS, KNR1L.VS, LGD1L.VS, RSU1L.VS, VBL1L.VS, VLP1L.VS, ZMP1L.VS
- Dividend discount (DDM)0.83 – 1.13 (Mid 0.96)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 16.7% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 9.4x | 50 (vs peers) | 63% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 8.2% | 100 (on a fixed band) | 38% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial50/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
AB Artea bankas (ROE1L.VS). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: ROE 10.2%.
The estimated value range is 0.74–1.10 EUR per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 0.85 EUR, the price of 0.84 EUR leaves a potential of 0.6% (value / price − 1) and a margin of safety of 0.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 16.7% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Shareholder yield (distributions): 8.2%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Lithuania · same country · compared with 16 companies
Multiples and returns vs the median
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LGD1L.VSLitgrid Ab | 571.2 m | 16.7 | 13.0% | 8.0% | +14.2% | +38% / +67% |
| IVL1L.VSAkcinė bendrovė "Invalda INVL" | 318.0 m | 7.0 | 19.7% | 230.8% | +44.6% | +21% / +165% |
| AKO1L.VSAB Akola group | 267.2 m | 7.2 | 10.5% | 2.5% | −4.4% | +4% / +58% |
| APG1L.VSAkcinė prekybos bendrovė "APRANGA" | 213.6 m | 13.2 | 23.9% | 5.3% | +4.9% | +22% / +44% |
| AMG1L.VSAB "Amber Grid" | 199.3 m | 120.0 | 0.8% | 2.0% | −6.4% | 0% / +4% |
| VLP1L.VSAb "vilkyškių Pieninė" | 184.2 m | 16.8 | 12.6% | 3.8% | +16.9% | +46% / +228% |
| KNE1L.VSAB "KN Energies" | 180.3 m | 9.9 | 10.8% | 17.3% | +12.3% | +41% / +139% |
| GRG1L.VSAB "Grigeo" | 131.7 m | 7.9 | 12.5% | 6.7% | +15.7% | +0% / +2% |
| RSU1L.VSAkcinė bendrovė "ROKIŠKIO SŪRIS" | 130.5 m | 7.6 | 11.1% | 4.3% | +8.7% | −7% / +46% |
| ZMP1L.VSAkcinė bendrovė "ŽEMAITIJOS PIENAS" | 117.1 m | 5.4 | 14.1% | 6.4% | +10.6% | +9% / +68% |
| KNR1L.VSAkcinė bendrovė "Kauno energija" | 88.7 m | 11.4 | 7.6% | 9.1% | −0.3% | +16% / +124% |
| VBL1L.VSAkcinė bendrovė "VILNIAUS BALDAI" | 37.4 m | 8.4 | 11.5% | 4.3% | +7.1% | −5% / +54% |
| INL1L.VSAkcinė bendrovė "INVL Baltic Farmland" | 23.7 m | 29.0 | 4.1% | 91.6% | +6.7% | +12% / +1% |
| INR1L.VSSpecialioji uždarojo tipo nekilnojamojo turto investicinė bendrovė "INVL Baltic Real Estate" | 21.5 m | 5.9 | 13.7% | 89.4% | +2.8% | −15% / +34% |
| NTU1L.VSAkcinė bendrovė "Novaturas" | 5.8 m | — | -64.2% | -3.8% | −3.6% | unavailable / unavailable |
| AUG1L.VSAUGA group, AB | — | — | -43.3% | -20.7% | −6.9% | +15% / −73% |
1- and 3-year price returns: for ROE1L.VS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
AB Artea bankas is a Lithuanian-rooted bank offering retail and corporate banking, as well as pensions, investment funds and life insurance. Net profit fell in 2025 while deposits and loans grew, and management proposes distributing up to 70% of profit 1.
SWOT
Strengths
- The balance sheet is solid, with capital and liquidity indicators well above regulatory requirements, and loan portfolio quality remains good 1.
- The bank has a growing deposit base, giving it stable funding for lending 1.
- The service range widened after the retail merger, including pensions, funds and insurance 1.
Weaknesses
Opportunities
Risks
- Technology implementation riskmedium
Replacing the core banking system with a cloud platform is a complex project; delays or technical problems could affect operations and costs 1.
- Pressure on interest marginhigh
The narrower net interest margin reduced the bank's main income; if the trend persists, profitability could stay below earlier levels 1.
- Fintech competitionmedium
New market entrants could attract clients in retail and deposit segments, which could limit growth 1.
- Credit and geopolitical riskmedium
Although the cost of risk is low, a deterioration in the region could increase provisions if lending standards were not sufficiently prudent 1.
- Pillar II pension reformlow
Changes to the pension system may influence household saving and demand for banking products, with impact that is hard to anticipate 1.
Investment thesis
What would need to be true (bull case)
- If deposits and loans keep growing, the bank could regain higher returns as margins stabilise 1.
- Capital and liquidity indicators are comfortable, which could allow continued dividends and share buybacks over the longer term 1.
- Expanding the pension and investment product range could diversify revenue away from interest income 1.
What would break the thesis
- Profit and return on equity fell sharply, and if interest income does not recover, pressure on results could continue 1.
- The cost-to-income ratio deteriorated, and technology project costs could rise further before delivering benefits 1.
- Rising competition and slower lending momentum could limit the bank's expansion in the coming years 1.
What to watch
- Trend in net interest margin and interest incomeQ1 2027
- Completion of the technology platform migration and its effect on costs2027
- Signing of agreements for Artea Retrofit Fund 3 and start of cash flowsQ4 2026
- General meeting approval of the distribution of 2025 profitnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The Artea Group aims to become a next-generation financial services provider with a broader range of services, including pillar II and III pensions, investment funds and life insurance, following the merger of its retail businesses 1. Net interest income was the main revenue source in 2025, while fee and commission income is smaller but growing 1. The bank's medium-term goal is to become the best bank in Lithuania by 2029 1.
The 2026–2028 strategy includes three horizontal areas, namely compliance, risk management and ESG, technology platform change and rebranding, plus four vertical areas covering clients, employees, public awareness and investors 1. The bank is replacing its legacy core banking system with a modern cloud platform, which could improve operational efficiency if delivered as planned 1.
Legal entities hold roughly two-thirds of the shares and foreign investors about a quarter, and the shares are listed on the Nasdaq Baltic regulated market 1. The bank paid dividends for fiscal 2024 and proposed a distribution of up to 70% of 2025 profit, combined with share buybacks 1.
Segments
Interest and fee income
Net interest income fell 14% in 2025 to 138.3 million EUR, while net fee and commission income rose 6% to over 30.9 million EUR 1. The net interest margin dropped to 2.6% in 2025 from 3.7% in 2024 1.
Retrofit fund and investment funds
The bank won a call for expression of interest to set up Artea Retrofit Fund 3 with a total amount of 625 million EUR, and real cash flows could start from 2027 1.
Market context
The bank operates mainly in Lithuania, competing with other banks and fintech companies, and management describes intensifying competition as a structural trend 1. Pillar II pension reform and macroeconomic uncertainty in the region could influence household saving and loan demand 1.
On the Nasdaq Baltic exchange, Artea shares are among the most actively traded in the region and belong to several Baltic and European indices, so their performance also reflects regional market sentiment 1.
Trends
- Lending momentummixed
New lending agreements rose slightly in 2025 but did not grow in the final quarter, a sign of more cautious demand, although the total portfolio expanded over the year 1.
- Pressure on interest incomeheadwind
Lower interest rates and a narrower net margin reduced interest income, which contributed to the fall in profit in 2025 1.
- Deposit growthtailwind
Customer deposits grew significantly, especially demand deposits, which could give the bank a more stable and cheaper funding base if the trend holds 1.
- Portfolio qualitymixed
The cost of risk fell considerably in 2025, indicating good credit quality, but geopolitical exposure in the region remains and could affect assets if conditions worsen 1.
Competitive position
The bank faces rising competition from new market entrants and fintech companies, which management considers a structural market trend 1. It seeks to differentiate through long-term customer relationships and a wider product range including pensions and insurance 1.
- Commercial banks in Lithuania
Direct competitors in retail and corporate segments, referred to in the context of intensifying competition 1.
- Fintech companies
New market entrants offering digital services that could attract clients, explicitly named by management as a competitive pressure 1.
- Banking groups in Poland and the Baltic states
Regional players that could compete in deposits and lending, implicit in the bank's strategic analysis 1.
- Pension and insurance providers
Companies offering pillar II and III products and life insurance, segments where the bank has recently expanded its offer 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202510 Mar 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / AB Artea bankas · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.