# Standard Chartered (STAN.LSE)

Canonical: https://gigainvestors.com/s/STAN.LSE

Analysis as of: 2026-10-16T07:33:50.404Z. Financial observations: FY2015–FY2025.

Listing currency: GBX. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: GBX 2,128.00 per share; close as of 2026-10-15.

Estimated value: low GBX 236.92 per share, central GBX 276.81 per share, high GBX 332.85 per share. Buy at or below the central value GBX 276.81 per share. Valuation as of 2026-10-16T07:33:50.404Z; scenarios are not confidence intervals.

Expected annual return: 4.8% at the stated quote. About 4.8% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; GB 10-year bond 5.4% + 4 points).

## Checklist

### understandable: pass

- Financial history: 10 years

- Profitable years in the last ten: 9

- Required profitable years: 9

- Return on common equity variation (informational): 0.83×

Chart: Net income; fiscal year observations.

- FY2016: -$478M

- FY2017: $774M

- FY2018: $618M

- FY2019: $1.9B

- FY2020: $329M

- FY2021: $1.9B

- FY2022: $2.5B

- FY2023: $3.5B

- FY2024: $4.1B

- FY2025: $5.2B

### moat: fail

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- median return on common equity below threshold

- return on tangible common equity below 5% in more than one year

- Bank / P&C ROTE, median of available years: 4.1%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: 0.7%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2016: -1.1%

- FY2017: 1.7%

- FY2018: 1.4%

- FY2019: 4.1%

- FY2020: 0.7%

- FY2021: 4.1%

- FY2022: 5.8%

- FY2023: 7.9%

- FY2024: 9.0%

- FY2025: 10.8%

### economics: pass

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- Book value per share + reinvested dividends, annualized return: 7.8%

- Book return interval: 10 years

- Starting book value per share: $13.16

- Ending book value per share: $20.37

Chart: Annual book + dividend return; fiscal year observations.

- FY2016: 1.1%

- FY2017: 7.6%

- FY2018: -2.4%

- FY2019: 5.6%

- FY2020: 25.4%

- FY2021: 4.0%

- FY2022: -4.1%

- FY2023: -5.3%

- FY2024: 33.8%

- FY2025: 19.6%

### management: pass

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- Diluted shares, 10-year annual growth: -3.4%

- Diluted shares, 5-year annual growth: -5.7%

- Share growth excluding flagged crisis recapitalisations: -3.4%

- Five-year share growth excluding flagged crisis recapitalisations: -5.7%

- Flagged crisis recapitalisations: 0

- Book value created per share: $7.21

- Earnings retained per share after dividends and buybacks: -$2.15

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

## Price story

The price assumes profits grow 9.2% a year forever · "Standard Chartered cashes in on rising wealth demand as it hikes boss’s pay" (uk.finance.yahoo.com, Feb 2026) · net income +28.2%

Story as of 2026-10-16T09:59:57.960Z; price observation 2026-10-15.

The price assumes profits grow 9.2% a year forever

- 2025-07-31: Standard Chartered Quarterly Profit Jumps, Announces $1.3 Billion Buyback ([finance.yahoo.com](https://finance.yahoo.com/m/bf9b7051-6837-3510-8e6b-d9e3dd7adb7f/standard-chartered-quarterly.html))

- 2025-10-30: Standard Chartered's profit rises, beats estimates on trade loans, wealth management ([finance.yahoo.com](https://finance.yahoo.com/news/standard-chartereds-profit-rises-beats-093000024.html))

- 2026-05-19: Standard Chartered blames AI as it cuts thousands of jobs ([uk.finance.yahoo.com](https://uk.finance.yahoo.com/news/standard-chartered-blames-ai-cuts-090907518.html))

- 2026-07-29: Standard Chartered launches fresh £750m share buyback after record profits ([uk.finance.yahoo.com](https://uk.finance.yahoo.com/news/standard-chartered-launches-fresh-750m-102605261.html))

### Net income · FY2025

net income +28.2%; source https://filings.xbrl.org/U4LOSYZ7YG4W3S5F2G91/2026-01-26/ESEF/GB/0/U4LOSYZ7YG4W3S5F2G91-2025-12-31/reports/U4LOSYZ7YG4W3S5F2G91-2025-12-31-T01.xhtml; observed 2026-03-04.

- FY2016: -$478M 

- FY2017: $774M 

- FY2018: $618M 

- FY2019: $1.9B 

- FY2020: $329M 

- FY2021: $1.9B 

- FY2022: $2.5B 

- FY2023: $3.5B 

- FY2024: $4.1B 

- FY2025: $5.2B 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in diversified banking; annual sales are USD 40.9 billion.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); FY2025: revenue 40942331000.

### Why customers stay

It earns 4.1% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); 10-year return on tangible equity observations [[2016,-0.01095877848594617],[2017,0.016662002454093383],[2018,0.013726317659862737],[2019,0.041169159749656],[2020,0.007256125802254031],[2021,0.04071034748044621],[2022,0.058154668127953967],[2023,0.0793041172301854],[2024,0.08980243464378368],[2025,0.10840854040509501]]; median 0.0409397536150511. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 3.2 billion of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); Dividend observations: [[2016,231000000],[2017,445000000],[2018,539000000],[2019,720000000],[2020,10464000000],[2021,374000000],[2022,393000000],[2023,568000000],[2024,780000000],[2025,974015000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); FY2025: cash repurchases 3227000000 USD.

### Are managers owners

Insiders own 0.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); STAN.LSE SharesStats.PercentInsiders = 0.326 percentage points; cache date 2026-10-16.

### What the price says

The price assumes profits grow 9.2% a year forever.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-04); Price 2128; FX 75.34943299551671; original perpetual distributable cash 0.21819507983303638; discount 0.1; growth 0.09227402464857576. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15.

## Monthly share-price history (GBX per share)

- 2016-10: GBX 711.90 per share

- 2016-11: GBX 641.10 per share

- 2016-12: GBX 663.60 per share

- 2017-01: GBX 774.10 per share

- 2017-02: GBX 722.40 per share

- 2017-03: GBX 763.00 per share

- 2017-04: GBX 721.20 per share

- 2017-05: GBX 731.90 per share

- 2017-06: GBX 777.20 per share

- 2017-07: GBX 846.70 per share

- 2017-08: GBX 770.00 per share

- 2017-09: GBX 741.60 per share

- 2017-10: GBX 750.40 per share

- 2017-11: GBX 738.40 per share

- 2017-12: GBX 780.10 per share

- 2018-01: GBX 819.60 per share

- 2018-02: GBX 810.80 per share

- 2018-03: GBX 712.70 per share

- 2018-04: GBX 767.00 per share

- 2018-05: GBX 754.60 per share

- 2018-06: GBX 692.60 per share

- 2018-07: GBX 688.00 per share

- 2018-08: GBX 627.10 per share

- 2018-09: GBX 636.40 per share

- 2018-10: GBX 549.50 per share

- 2018-11: GBX 609.40 per share

- 2018-12: GBX 609.30 per share

- 2019-01: GBX 613.90 per share

- 2019-02: GBX 601.60 per share

- 2019-03: GBX 591.30 per share

- 2019-04: GBX 700.00 per share

- 2019-05: GBX 687.00 per share

- 2019-06: GBX 714.20 per share

- 2019-07: GBX 676.80 per share

- 2019-08: GBX 622.00 per share

- 2019-09: GBX 684.20 per share

- 2019-10: GBX 701.00 per share

- 2019-11: GBX 697.40 per share

- 2019-12: GBX 712.40 per share

- 2020-01: GBX 631.00 per share

- 2020-02: GBX 562.60 per share

- 2020-03: GBX 445.80 per share

- 2020-04: GBX 407.50 per share

- 2020-05: GBX 368.40 per share

- 2020-06: GBX 440.10 per share

- 2020-07: GBX 385.80 per share

- 2020-08: GBX 392.40 per share

- 2020-09: GBX 356.10 per share

- 2020-10: GBX 351.80 per share

- 2020-11: GBX 452.20 per share

- 2020-12: GBX 465.90 per share

- 2021-01: GBX 444.00 per share

- 2021-02: GBX 462.10 per share

- 2021-03: GBX 499.50 per share

- 2021-04: GBX 519.60 per share

- 2021-05: GBX 507.80 per share

- 2021-06: GBX 461.00 per share

- 2021-07: GBX 432.00 per share

- 2021-08: GBX 454.80 per share

- 2021-09: GBX 436.00 per share

- 2021-10: GBX 494.90 per share

- 2021-11: GBX 416.20 per share

- 2021-12: GBX 448.40 per share

- 2022-01: GBX 536.80 per share

- 2022-02: GBX 532.80 per share

- 2022-03: GBX 510.20 per share

- 2022-04: GBX 551.80 per share

- 2022-05: GBX 629.80 per share

- 2022-06: GBX 618.60 per share

- 2022-07: GBX 564.20 per share

- 2022-08: GBX 598.20 per share

- 2022-09: GBX 566.80 per share

- 2022-10: GBX 520.20 per share

- 2022-11: GBX 617.40 per share

- 2022-12: GBX 622.40 per share

- 2023-01: GBX 679.20 per share

- 2023-02: GBX 784.20 per share

- 2023-03: GBX 614.20 per share

- 2023-04: GBX 628.40 per share

- 2023-05: GBX 633.60 per share

- 2023-06: GBX 683.00 per share

- 2023-07: GBX 747.40 per share

- 2023-08: GBX 711.60 per share

- 2023-09: GBX 758.00 per share

- 2023-10: GBX 630.00 per share

- 2023-11: GBX 653.20 per share

- 2023-12: GBX 666.60 per share

- 2024-01: GBX 598.80 per share

- 2024-02: GBX 667.60 per share

- 2024-03: GBX 671.40 per share

- 2024-04: GBX 689.80 per share

- 2024-05: GBX 777.40 per share

- 2024-06: GBX 716.00 per share

- 2024-07: GBX 767.20 per share

- 2024-08: GBX 779.40 per share

- 2024-09: GBX 793.00 per share

- 2024-10: GBX 900.40 per share

- 2024-11: GBX 972.40 per share

- 2024-12: GBX 988.60 per share

- 2025-01: GBX 1,092.00 per share

- 2025-02: GBX 1,269.00 per share

- 2025-03: GBX 1,139.50 per share

- 2025-04: GBX 1,076.00 per share

- 2025-05: GBX 1,158.00 per share

- 2025-06: GBX 1,207.00 per share

- 2025-07: GBX 1,360.50 per share

- 2025-08: GBX 1,386.00 per share

- 2025-09: GBX 1,435.50 per share

- 2025-10: GBX 1,559.50 per share

- 2025-11: GBX 1,673.50 per share

- 2025-12: GBX 1,822.00 per share

- 2026-01: GBX 1,862.00 per share

- 2026-02: GBX 1,832.00 per share

- 2026-03: GBX 1,555.00 per share

- 2026-04: GBX 1,862.80 per share

- 2026-05: GBX 1,993.50 per share

- 2026-06: GBX 2,041.00 per share

- 2026-07: GBX 2,188.00 per share

- 2026-08: GBX 2,177.00 per share

- 2026-09: GBX 2,298.00 per share

- 2026-10: GBX 2,165.00 per share

## Annual estimated value (GBX per share)

- FY2016: low GBX 1,208.63 per share, central GBX 1,329.49 per share, high GBX 1,477.21 per share

- FY2017: low GBX 1,109.94 per share, central GBX 1,220.94 per share, high GBX 1,356.60 per share

- FY2018: low GBX 769.43 per share, central GBX 846.37 per share, high GBX 940.41 per share

- FY2019: low GBX 286.40 per share, central GBX 332.48 per share, high GBX 396.22 per share

- FY2020: low GBX 202.62 per share, central GBX 228.70 per share, high GBX 262.49 per share

- FY2021: low GBX 203.58 per share, central GBX 229.63 per share, high GBX 263.32 per share

- FY2022: low GBX 193.49 per share, central GBX 218.25 per share, high GBX 250.27 per share

- FY2023: low GBX 150.33 per share, central GBX 170.38 per share, high GBX 196.60 per share

- FY2024: low GBX 153.27 per share, central GBX 174.64 per share, high GBX 202.95 per share

- FY2025: low GBX 214.23 per share, central GBX 250.30 per share, high GBX 300.98 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:39:35.541Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original ESEF filing](https://filings.xbrl.org/U4LOSYZ7YG4W3S5F2G91/2026-01-26/ESEF/GB/0/U4LOSYZ7YG4W3S5F2G91-2025-12-31/reports/U4LOSYZ7YG4W3S5F2G91-2025-12-31-T01.xhtml); period 2026-01-26, filed 2026-03-04.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations