ITUB
Itau Unibanco Banco Holding SA
NYSE: ITUB · FINANCIAL SERVICES · BANKS - REGIONAL
$7.99
+1.01% today
Updated 2026-06-12
Market cap
$86.63B
P/E ratio
9.59
P/S ratio
0.63x
EPS (TTM)
$0.82
Dividend yield
43.10%
52W range
$5 – $10
Volume
22.0M
Itau Unibanco Banco Holding SA (ITUB) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed ITUB price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$7.99
Today
Analyst consensus
$9.00
+12.64% · 12M
2030 Base
$92.97
+1063.58% future
NPV today
$72.00
@ 6% WACC
4 analysts:
2 Buy2 Hold1 Sell
Management guidance
Itaú Unibanco reaffirmed 2026 guidance projecting mid-to-high single-digit growth in key financial lines (net interest income, credit portfolio expansion). Management indicated confidence in continued loan growth driven by Brazil's expanding credit market and digital transformation initiatives. No specific 2027-2030 revenue targets disclosed by management.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
ITUB · Itau Unibanco Banco Holding SA · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$92.97
NPV today: $72.00
Base case (2030)
$92.97
NPV today: $72.00
Bull case (2030)
$151.33
NPV today: $117.20
WallStSmart.com
ITUB financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $384.6B | $220.4B | $245.8B | $272.1B | $297.5B | $320.8B |
| Revenue growth | 18.0% | 58.5% | 11.5% | 10.7% | 9.3% | 7.8% |
| Net margin | — | 13.1% | 13.6% | 14.0% | 14.2% | 14.4% |
| EPS | $0.78 | $5.33 | $6.12 | $6.95 | $7.72 | $8.38 |
| Diluted shares | — | 5425M | 5447M | 5464M | 5480M | 5496M |
| Net debt | — | $-30.90B | $-65.35B | $-103.50B | $-145.20B | $-190.17B |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $46.32 | $57.12 | $68.75 | $80.79 | $92.97 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $320.8B | $320.8B | $320.8B |
| P/S multiple | 1.0x | 1.0x | 2.0x |
| Diluted shares | 5496M | 5496M | 5496M |
| Net debt | $-190.17B | $-190.17B | $-190.17B |
| Implied P/E † | 11x | 11x | 18x |
| 2030 Price | $92.97 | $92.97 | $151.33 |
| NPV @ 6% | $72.00 | $72.00 | $117.20 |
† Implied P/E: Multiples remain elevated across all three scenarios because ITUB is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $92.97 base case
ITUB catalysts and risks
Growth catalysts
+ Accelerating loan portfolio growth (R$1.5T in Q1 2026, +9-10% YoY trend)
+ Digital transformation driving cost efficiency and revenue diversification
+ Brazil economic recovery increasing credit demand and interest rate normalization benefiting net interest margins
+ Strong capital ratios (14.8% Total Capital ratio) enabling dividend growth and share buybacks
+ Expansion of wealth management and investment banking services to high-net-worth clients
Key risks
- Brazilian macroeconomic volatility and currency fluctuations (BRL weakness impacts USD-denominated results)
- Interest rate policy changes in Brazil affecting net interest margin compression
- Credit quality deterioration if Brazilian economy weakens (NPL ratio currently 1.9%, manageable but sensitive to cycle)
- Regulatory changes in Brazil and regulatory capital requirements limiting dividend payouts
- Competitive pressure from digital fintechs and smaller banks in Brazil's retail banking segment
Methodology · Itau Unibanco Banco Holding SA 2030 stock forecast model
Itau Unibanco Banco Holding SA 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 4 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (2% cumulative for ITUB by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-190.17B by 2030) |
| 3. Time value | NPV calculated using 6% WACC (CAPM: beta 0.221) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 2.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
ITUB price target FAQ
What is the ITUB price target for 2030?
WallStSmart's Itau Unibanco Banco Holding SA 2030 base case is $92.97 per share, with a bull case of $151.33 and bear case of $92.97. The NPV of the base case discounted to today at 6% WACC is $72.00.
How is the Itau Unibanco Banco Holding SA 2030 stock forecast calculated?
The ITUB 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the ITUB price target account for dilution?
Itau Unibanco Banco Holding SA is projected to grow diluted share count from 5404M to 5496M by 2030 (a 2% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 2%.
What is the analyst consensus on ITUB stock?
4 analysts cover ITUB with an average 12-month price target of $9.00. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.