Proto Labs, Inc.

WBAG:PRLB Stock Report

Market Cap: €872.4m

Proto Labs Valuation

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

Below Fair Value: PRLB (€36.4) is trading below our estimate of fair value (€56.31)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PRLB. This is calculated by dividing PRLB's market cap by their current earnings.
What is PRLB's PE Ratio?
PE Ratio38.3x
EarningsUS$23.99m
Market CapUS$918.39m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PRLB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.7x
SEM Semperit Holding
15.7x47.0%€234.5m
ANDR Andritz
10.3x8.8%€5.2b
PAL Palfinger
6.4x-0.3%€689.8m
POS PORR
6.5x14.3%€583.3m
PRLB Proto Labs
38.3x-11.5%€918.4m

Price-To-Earnings vs Peers: PRLB is expensive based on its Price-To-Earnings Ratio (38.3x) compared to the peer average (9.7x).

Price to Earnings Ratio vs Industry

How does PRLB's PE Ratio compare vs other companies in the European Machinery Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PRLB 38.3xIndustry Avg. 17.5xNo. of Companies28PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PRLB is expensive based on its Price-To-Earnings Ratio (38.3x) compared to the European Machinery industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is PRLB'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.

PRLB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio38.3x
Fair PE Ratio6.6x

Price-To-Earnings vs Fair Ratio: PRLB is expensive based on its Price-To-Earnings Ratio (38.3x) compared to the estimated Fair Price-To-Earnings Ratio (6.6x).

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 PRLB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€36.40
€37.22
+2.3%
9.1%€41.53€33.22n/a3
Nov ’25€32.74
€37.22
+13.7%
9.1%€41.53€33.22n/a3
Oct ’25€25.98
€35.12
+35.2%
16.3%€41.23€27.49n/a3
Sep ’25€27.40
€35.12
+28.2%
16.3%€41.23€27.49n/a3
Aug ’25€31.18
€37.70
+20.9%
12.1%€41.38€31.27n/a3
Jul ’25€27.74
€37.70
+35.9%
12.1%€41.38€31.27n/a3
Jun ’25€28.48
€36.69
+28.8%
13.9%€41.80€31.58n/a2
May ’25€28.90
€38.47
+33.1%
8.4%€41.72€35.23n/a2
Apr ’25€33.08
€38.47
+16.3%
8.4%€41.72€35.23n/a2
Mar ’25€33.34
€38.47
+15.4%
8.4%€41.72€35.23n/a2
Feb ’25€33.32
€34.40
+3.2%
20.0%€41.28€27.52n/a2
Jan ’25€36.08
€34.40
-4.7%
20.0%€41.28€27.52n/a2
Dec ’24€33.70
€38.55
+14.4%
19.8%€45.70€27.98n/a3
Nov ’24€22.12
€38.40
+73.6%
22.4%€46.27€26.44€32.743
Oct ’24€24.94
€37.54
+50.5%
19.3%€44.87€25.64€25.984
Sep ’24€27.88
€37.54
+34.7%
19.3%€44.87€25.64€27.404
Aug ’24€30.08
€36.58
+21.6%
21.6%€44.54€23.63€31.184
Jul ’24€32.08
€36.58
+14.0%
21.6%€44.54€23.63€27.744
Jun ’24€29.16
€36.58
+25.5%
21.6%€44.54€23.63€28.484
May ’24€25.54
€35.14
+37.6%
29.0%€44.73€18.26€28.904
Apr ’24€30.08
€35.91
+19.4%
29.0%€45.70€18.65€33.084
Mar ’24€30.08
€35.91
+19.4%
29.0%€45.70€18.65€33.344
Feb ’24€28.03
€31.64
+12.9%
37.1%€47.46€19.37€33.323
Jan ’24€23.64
€31.64
+33.8%
37.1%€47.46€19.37€36.083
Dec ’23€25.46
€31.64
+24.3%
37.1%€47.46€19.37€33.703
Nov ’23€38.80
€45.77
+18.0%
7.7%€49.29€42.25€22.122

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

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