Bunzl plc

LSE:BNZL Stock Report

Market Cap: UK£11.5b

Bunzl Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 BNZL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BNZL (£34.34) is trading below our estimate of fair value (£38.21)

Significantly Below Fair Value: BNZL is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

BNZL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA13.6x
PEG Ratio3.4x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BNZL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.1x
HWDN Howden Joinery Group
19x8.5%UK£4.8b
AHT Ashtead Group
21x1.9%UK£25.0b
DPLM Diploma
48.5x17.0%UK£5.6b
RS1 RS Group
19.8x13.4%UK£3.6b
BNZL Bunzl
23.5x6.8%UK£11.5b

Price-To-Earnings vs Peers: BNZL is good value based on its Price-To-Earnings Ratio (23.5x) compared to the peer average (27.1x).

Price to Earnings Ratio vs Industry

How does BNZL's PE Ratio compare vs other companies in the European Trade Distributors Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.5%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.5%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: BNZL is expensive based on its Price-To-Earnings Ratio (23.5x) compared to the European Trade Distributors industry average (15.5x).

Price to Earnings Ratio vs Fair Ratio

What is BNZL'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.

BNZL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.5x
Fair PE Ratio20.4x

Price-To-Earnings vs Fair Ratio: BNZL is expensive based on its Price-To-Earnings Ratio (23.5x) compared to the estimated Fair Price-To-Earnings Ratio (20.4x).

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 BNZL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£34.34
UK£34.39
+0.1%
9.7%UK£40.00UK£28.00n/a16
Oct ’25UK£35.28
UK£34.39
-2.5%
9.7%UK£40.00UK£28.00n/a16
Sep ’25UK£35.40
UK£33.92
-4.2%
10.6%UK£40.00UK£26.00n/a16
Aug ’25UK£32.30
UK£32.29
-0.03%
11.4%UK£38.00UK£26.00n/a17
Jul ’25UK£29.92
UK£31.95
+6.8%
11.4%UK£37.00UK£26.00n/a17
Jun ’25UK£29.36
UK£31.67
+7.9%
11.3%UK£37.00UK£26.00n/a17
May ’25UK£30.54
UK£31.66
+3.7%
11.4%UK£37.00UK£26.00n/a17
Apr ’25UK£30.48
UK£31.50
+3.4%
11.4%UK£37.00UK£26.00n/a17
Mar ’25UK£31.04
UK£31.46
+1.4%
12.0%UK£37.00UK£25.00n/a16
Feb ’25UK£32.04
UK£30.55
-4.6%
12.3%UK£37.00UK£25.00n/a15
Jan ’25UK£31.90
UK£30.17
-5.4%
12.0%UK£36.00UK£25.00n/a15
Dec ’24UK£29.96
UK£29.99
+0.1%
11.8%UK£36.00UK£25.00n/a15
Nov ’24UK£29.44
UK£29.99
+1.9%
11.8%UK£36.00UK£25.00n/a15
Oct ’24UK£29.26
UK£29.63
+1.3%
12.3%UK£36.00UK£25.00UK£35.2816
Sep ’24UK£28.50
UK£29.72
+4.3%
12.2%UK£36.00UK£25.00UK£35.4017
Aug ’24UK£28.73
UK£30.17
+5.0%
12.3%UK£36.00UK£25.00UK£32.3018
Jul ’24UK£29.99
UK£30.33
+1.1%
11.7%UK£36.00UK£25.00UK£29.9218
Jun ’24UK£31.50
UK£30.72
-2.5%
11.5%UK£36.07UK£25.00UK£29.3619
May ’24UK£31.64
UK£30.35
-4.1%
11.5%UK£36.07UK£24.70UK£30.5418
Apr ’24UK£30.57
UK£29.98
-1.9%
11.1%UK£36.07UK£24.70UK£30.4817
Mar ’24UK£29.74
UK£29.79
+0.2%
12.0%UK£36.07UK£23.40UK£31.0418
Feb ’24UK£29.80
UK£29.33
-1.6%
11.9%UK£36.07UK£23.40UK£32.0418
Jan ’24UK£27.59
UK£29.36
+6.4%
12.4%UK£36.07UK£22.50UK£31.9019
Dec ’23UK£30.46
UK£29.47
-3.2%
12.7%UK£36.07UK£22.50UK£29.9619
Nov ’23UK£28.34
UK£29.41
+3.8%
12.4%UK£35.00UK£22.50UK£29.4419
Oct ’23UK£27.60
UK£29.21
+5.8%
12.0%UK£35.00UK£22.50UK£29.2620

Analyst Forecast: Target price is less than 20% higher than the current share price.

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