Société Générale stock forecast 2027–2029
MyStockButler's October 2026 analysis: Société Générale's weighted forecast is €59.07 in October 2027 and €80.11 in October 2029, with the bear case at 26%, the base case at 56% and the bull case at 18%. It hinges on cost savings, credit losses, Ayvens resale values and market-income durability.
Where could Société Générale's shares be by 2029?
Our weighted forecast is €59.07 in October 2027. That is a 0% return including dividends. It reaches €80.11 in October 2029. That is a 41% return including dividends. The bear case has a 26% probability. The base case has 56%. The bull case has 18%. The outcome turns on cost savings, credit losses, Ayvens resale values and market-income durability. Full-year results arrive on 4 February 2027. New capital rules for trading positions begin on 1 January 2027. Société Générale is priced as a recovery that must become a durable 13%–14% ROTE business without sacrificing capital to credit, markets or Ayvens.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 26 % | 40.33 (-31 %) | 46.87 (-19 %) | 54.32 (-5 %) |
| Base | 56 % | 63.73 (+8 %) | 72.77 (+26 %) | 82.73 (+46 %) |
| Bull | 18 % | 71.66 (+21 %) | 89.14 (+53 %) | 109.19 (+91 %) |
| Weighted | 100 % | 59.07 (-0 %) | 68.98 (+19 %) | 80.11 (+41 %) |
What this means. The weighted row is the probability-based average of the bear, base, and bull cases, so it is not a fourth forecast.
What does Société Générale earn and give back?
Bank revenue is called net because the bank keeps the interest it earns from borrowers after paying interest to depositors and other funders, then adds fees, trading income and other operating income. In 2025, net interest income was about €10.1 billion and other income about €17.2 billion, producing revenue of €27.3 billion.
The planned shareholder return has two parts. Ordinary distributions should exceed €13 billion over 2026–29 and come from a 50% payout of reported net income, split between dividends and buybacks. A further roughly €8 billion could be released if capital remains above the 13% CET1 target, taking the possible total above €21 billion. That is a four-year plan, not a guaranteed annual yield. The next question is how much of this recovery the market has already rewarded.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Net interest income | 10,069 | 9,892 | 10,310 | 12,841 | 10,718 |
| Other income (calculated) | 17,185 | 16,896 | 14,794 | 14,314 | 15,080 |
| Revenue | 27,254 | 26,788 | 25,104 | 27,155 | 25,798 |
| Profit to shareholders | 6,002 | 4,200 | 2,493 | 1,825 | 5,641 |
| EPS, diluted | 6.80 | 4.38 | 2.17 | 1.50 | 5.97 |
| Dividend per share | 1.61 | 1.09 | 0.90 | 1.70 | 1.65 |
What this means. Other income is calculated by subtracting net interest income from revenue, so it is not a separate total reported directly by the bank.
What does an investor pay for Société Générale today?
The share price, multiplied by the number of shares, gives the bank’s market value. The price-to-earnings ratio, or P/E, compares the share price with earnings per share: the trailing version uses the last 12 months, while the forward version uses estimated earnings for the next 12 months. The current valuation therefore asks whether today’s profits will last.
| Today (Oct 30, 2026) | |
|---|---|
| Share price | 60.99 |
| Market value (calculated) | 43,709.7033 |
| P/E, last 12 months (calculated) | 7.47x |
| P/E, next 12 months (calculated) | 7.61x |
| Price to book (calculated) | 0.71x |
| Price to tangible book (calculated) | 0.80x |
| Dividend yield (calculated) | 2.6% |
What this means. The next twelve months price-to-earnings figure uses analysts’ expected profit, so it is a forecast rather than a number based on profit already earned.