Dividend discount · Excess returns
Value a bank properly, one step at a time.
Banks do not value like ordinary companies. Tier One walks you through the inputs that actually matter — book equity, returns on that equity, payout capacity and the cost of equity — and hands back a defensible range across two methods.
Type it or upload it
Enter the last three to five years by hand, or drop in a spreadsheet and confirm what we recognised before anything is used.
Two methods, one range
Dividends discounted at the cost of equity and excess returns above it — side by side, so you can see how much the answer depends on the approach.
A model you keep
Download a live Excel workbook with real formulas, or print a one-page summary of the number and every assumption behind it.
The five steps
- 01
Institution
Name, currency, shares outstanding, and today's price if it is listed.
- 02
Financials
Net income, book equity, dividends, assets, risk-weighted assets, CET1.
- 03
Assumptions
How long you forecast, the returns you expect, and what gets paid out.
- 04
Cost of equity
Risk-free rate, equity risk premium and beta — or your own number.
- 05
Valuation
The range, the sensitivity table, the Excel model and the printout.