Ashtead Technology Holdings Plc

AIM:AT. Stock Report

Market Cap: UK£436.8m

Ashtead Technology Holdings Valuation

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

Below Fair Value: AT. (£5.44) is trading below our estimate of fair value (£16.34)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AT.. This is calculated by dividing AT.'s market cap by their current earnings.
What is AT.'s PE Ratio?
PE Ratio17.8x
EarningsUK£24.52m
Market CapUK£436.84m

Price to Earnings Ratio vs Peers

How does AT.'s PE Ratio compare to its peers?

The above table shows the PE ratio for AT. vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.5x
LTHM James Latham
11.4x-3.4%UK£257.5m
ASY Andrews Sykes Group
12.5xn/aUK£216.6m
DNA2 Doric Nimrod Air Two
3xn/aUK£175.2m
MACF Macfarlane Group
11.2x9.2%UK£164.9m
AT. Ashtead Technology Holdings
17.8x19.8%UK£436.8m

Price-To-Earnings vs Peers: AT. is expensive based on its Price-To-Earnings Ratio (17.8x) compared to the peer average (9.5x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AT. 17.8xIndustry Avg. 14.4xNo. of Companies11PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AT. is expensive based on its Price-To-Earnings Ratio (17.8x) compared to the European Trade Distributors industry average (14.4x).

Price to Earnings Ratio vs Fair Ratio

What is AT.'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.

AT. PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.8x
Fair PE Ratio20.1x

Price-To-Earnings vs Fair Ratio: AT. is good value based on its Price-To-Earnings Ratio (17.8x) compared to the estimated Fair Price-To-Earnings Ratio (20.1x).

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 AT. forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£5.44
UK£8.56
+57.3%
6.1%UK£9.54UK£8.00n/a7
Nov ’25UK£5.45
UK£8.56
+57.0%
6.1%UK£9.54UK£8.00n/a7
Oct ’25UK£5.74
UK£8.41
+46.6%
5.6%UK£9.00UK£7.75n/a7
Sep ’25UK£7.80
UK£8.45
+8.3%
6.1%UK£9.00UK£7.75n/a7
Aug ’25UK£8.39
UK£8.45
+0.7%
6.1%UK£9.00UK£7.75n/a7
Jul ’25UK£7.83
UK£8.45
+7.9%
6.1%UK£9.00UK£7.75n/a7
Jun ’25UK£8.24
UK£8.26
+0.3%
6.3%UK£9.00UK£7.70n/a7
May ’25UK£7.93
UK£8.21
+3.6%
6.4%UK£9.00UK£7.70n/a7
Apr ’25UK£7.60
UK£6.79
-10.6%
6.7%UK£7.50UK£6.15n/a7
Mar ’25UK£7.02
UK£6.79
-3.2%
6.7%UK£7.50UK£6.15n/a7
Feb ’25UK£6.56
UK£6.68
+1.8%
5.7%UK£7.00UK£6.15n/a6
Jan ’25UK£6.14
UK£6.68
+8.7%
5.7%UK£7.00UK£6.15n/a6
Dec ’24UK£5.94
UK£6.01
+1.2%
14.2%UK£7.00UK£4.80n/a6
Nov ’24UK£4.69
UK£4.85
+3.4%
2.2%UK£5.00UK£4.75UK£5.456
Oct ’24UK£4.37
UK£4.85
+11.0%
2.2%UK£5.00UK£4.75UK£5.746
Sep ’24UK£3.92
UK£4.41
+12.5%
4.2%UK£4.50UK£4.00UK£7.806
Aug ’24UK£3.89
UK£4.41
+13.3%
4.2%UK£4.50UK£4.00UK£8.396
Jul ’24UK£3.82
UK£4.41
+15.4%
4.2%UK£4.50UK£4.00UK£7.836
Jun ’24UK£3.66
UK£4.41
+20.4%
4.2%UK£4.50UK£4.00UK£8.246
May ’24UK£3.41
UK£4.02
+17.8%
0.6%UK£4.05UK£4.00UK£7.936
Apr ’24UK£3.04
UK£4.02
+32.1%
0.6%UK£4.05UK£4.00UK£7.606
Mar ’24UK£2.98
UK£4.02
+34.8%
0.6%UK£4.05UK£4.00UK£7.026
Feb ’24UK£3.19
UK£4.01
+25.7%
0.5%UK£4.05UK£4.00UK£6.565
Jan ’24UK£3.15
UK£3.68
+16.9%
9.5%UK£4.00UK£3.00UK£6.145
Dec ’23UK£3.14
UK£3.40
+8.2%
5.8%UK£3.75UK£3.15UK£5.945
Nov ’23UK£2.51
UK£3.28
+30.9%
3.0%UK£3.39UK£3.15UK£4.693

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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