Tikehau Capital Valuation

Is TKO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TKO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TKO (€21) is trading below our estimate of fair value (€29.55)

Significantly Below Fair Value: TKO is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for TKO?

Key metric: As TKO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TKO. This is calculated by dividing TKO's market cap by their current earnings.
What is TKO's PE Ratio?
PE Ratio22.3x
Earnings€162.23m
Market Cap€3.61b

Price to Earnings Ratio vs Peers

How does TKO's PE Ratio compare to its peers?

The above table shows the PE ratio for TKO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14x
ANTIN Antin Infrastructure Partners SAS
15.7x21.3%€1.8b
AMUN Amundi
10.3x4.3%€13.0b
LTA Altamir
15.7x-16.9%€820.8m
ALBON Compagnie Lebon
14.1x7.2%€109.0m
TKO Tikehau Capital
22.3x43.2%€3.6b

Price-To-Earnings vs Peers: TKO is expensive based on its Price-To-Earnings Ratio (22.3x) compared to the peer average (14x).


Price to Earnings Ratio vs Industry

How does TKO's PE Ratio compare vs other companies in the European Capital Markets Industry?

17 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TKO 22.3xIndustry Avg. 13.1xNo. of Companies39PE01224364860+
17 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TKO is expensive based on its Price-To-Earnings Ratio (22.3x) compared to the European Capital Markets industry average (13.1x).


Price to Earnings Ratio vs Fair Ratio

What is TKO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TKO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.3x
Fair PE Ratio25.8x

Price-To-Earnings vs Fair Ratio: TKO is good value based on its Price-To-Earnings Ratio (22.3x) compared to the estimated Fair Price-To-Earnings Ratio (25.8x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TKO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€21.00
€26.96
+28.4%
11.3%€32.00€23.00n/a10
Nov ’25€21.35
€26.96
+26.3%
11.3%€32.00€23.00n/a10
Oct ’25€24.30
€26.81
+10.3%
11.7%€32.00€22.80n/a10
Sep ’25€22.20
€26.71
+20.3%
12.2%€32.00€22.50n/a10
Aug ’25€22.80
€26.93
+18.1%
11.7%€32.00€22.80n/a10
Jul ’25€21.10
€27.22
+29.0%
12.3%€32.00€22.50n/a10
Jun ’25€21.05
€27.22
+29.3%
12.3%€32.00€22.50n/a10
May ’25€21.95
€27.36
+24.6%
11.6%€32.00€22.50n/a10
Apr ’25€20.35
€27.29
+34.1%
11.9%€32.00€22.50n/a10
Mar ’25€21.20
€27.16
+28.1%
12.5%€32.00€22.00n/a11
Feb ’25€20.90
€27.55
+31.8%
12.0%€32.00€22.00n/a10
Jan ’25€20.60
€27.65
+34.2%
13.1%€32.00€21.00n/a10
Dec ’24€20.20
€27.65
+36.9%
13.1%€32.00€21.00n/a10
Nov ’24€19.48
€27.90
+43.2%
13.6%€32.00€21.00€21.3510
Oct ’24€20.85
€28.25
+35.5%
12.2%€32.00€22.00€24.3010
Sep ’24€22.25
€28.65
+28.8%
12.6%€32.00€22.00€22.2010
Aug ’24€22.45
€28.65
+27.6%
12.6%€32.00€22.00€22.8010
Jul ’24€22.65
€29.63
+30.8%
10.3%€32.00€22.50€21.108
Jun ’24€23.65
€30.43
+28.6%
12.5%€36.40€22.50€21.058
May ’24€24.90
€30.60
+22.9%
11.8%€36.40€22.50€21.959
Apr ’24€24.35
€30.62
+25.8%
11.6%€36.40€22.70€20.359
Mar ’24€26.35
€30.60
+16.1%
11.0%€36.40€22.70€21.2010
Feb ’24€26.20
€29.23
+11.6%
12.0%€32.00€21.50€20.9010
Jan ’24€24.25
€28.83
+18.9%
15.0%€34.00€20.00€20.609
Dec ’23€25.30
€28.83
+14.0%
15.0%€34.00€20.00€20.209
Nov ’23€24.90
€28.83
+15.8%
15.0%€34.00€20.00€19.489

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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