Grupo Cibest S.A.

AI-generated fair value estimate for this company.

Method: Justified price-to-book model on ADR basis: book value per ADR of ~$44.40 (derived from the reported 2.07x P/B ratio against the $91.91 ADR price, each ADR representing 4 ordinary shares); 19% return on equity; 13% cost of equity (Colombian/EM bank risk premium); 7% sustainable long-run growth (nominal COP earnings growth translated to USD). Justified P/B = (0.19-0.07)/(0.13-0.07) = 2.0x; intrinsic value = 2.0 x $44.40 = $88.80 per ADR.

Reasoning: Bancolombia (Grupo Cibest) is a bank best valued on a return-on-equity-to-book-value basis rather than FCF; its strong ~19% ROE supports a P/B premium above 1x, but a higher 13% cost of equity reflecting Colombian sovereign and currency risk tempers the premium relative to a comparable US bank with similar ROE.