Uniper SE

WBAG:UN02 Stock Report

Market Cap: €17.3b

Uniper Valuation

Is UN02 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of UN02 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UN02 (€41.48) is trading above our estimate of fair value (€3.95)

Significantly Below Fair Value: UN02 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for UN02?

Key metric: As UN02 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for UN02. This is calculated by dividing UN02's market cap by their current revenue.
What is UN02's PS Ratio?
PS Ratio0.2x
Sales€106.44b
Market Cap€17.30b

Price to Sales Ratio vs Peers

How does UN02's PS Ratio compare to its peers?

The above table shows the PS ratio for UN02 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2x
VER VERBUND
4x-5.9%€26.3b
EVN EVN
1.3x2.6%€4.4b
RWE RWE
1x4.4%€23.1b
1816 CGN Power
1.5x4.8%HK$202.1b
UN02 Uniper
0.2x5.6%€17.3b

Price-To-Sales vs Peers: UN02 is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (2x).

Price to Sales Ratio vs Industry

How does UN02's PS Ratio compare vs other companies in the European Renewable Energy Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.2.6x6.5%
UN02 Uniper
 0.2x5.6%US$18.02b
UN02 0.2xIndustry Avg. 2.6xNo. of Companies13PS0246810+
14 CompaniesEstimated GrowthMarket Cap
Industry Avg.2.6x17.4%
UN02 Uniper
 0.2x64.7%US$18.02b
No more companies

Price-To-Sales vs Industry: UN02 is good value based on its Price-To-Sales Ratio (0.2x) compared to the European Renewable Energy industry average (2.7x).

Price to Sales Ratio vs Fair Ratio

What is UN02's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

UN02 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio1.5x

Price-To-Sales vs Fair Ratio: UN02 is good value based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (1.5x).

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 UN02 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€41.48
€35.83
-13.6%
3.7%€37.00€34.00n/a3
Nov ’25€44.73
€36.17
-19.1%
4.3%€37.50€34.00n/a3
Oct ’25€54.58
€38.88
-28.8%
10.9%€46.00€35.00n/a4
Sep ’25€43.47
€37.96
-12.7%
11.0%€46.00€34.30n/a5
Aug ’25€42.43
€39.86
-6.1%
12.9%€47.00€34.30n/a5
Jul ’25€47.41
€41.86
-11.7%
11.6%€47.00€34.30n/a5
Jun ’25€53.46
€41.00
-23.3%
15.3%€47.00€30.00n/a5
May ’25€52.58
€41.00
-22.0%
15.3%€47.00€30.00n/a5
Apr ’25€51.92
€41.80
-19.5%
14.6%€47.00€30.00n/a5
Mar ’25€54.76
€43.40
-20.7%
18.5%€55.00€30.00n/a5
Feb ’25€57.22
€47.00
-17.9%
21.4%€58.00€30.00n/a5
Jan ’25€58.44
€49.20
-15.8%
25.4%€66.00€30.00n/a5
Dec ’24€75.22
€47.60
-36.7%
28.9%€66.00€30.00n/a5
Nov ’24€96.88
€47.60
-50.9%
28.9%€66.00€30.00€44.735
Oct ’24€101.40
€47.60
-53.1%
28.9%€66.00€30.00€54.585
Sep ’24€121.32
€47.00
-61.3%
32.6%€66.00€30.00€43.474
Aug ’24€116.48
€45.00
-61.4%
31.7%€66.00€30.00€42.434
Jul ’24€97.68
€44.50
-54.4%
24.9%€60.00€34.00€47.414
Jun ’24€157.96
€51.60
-67.3%
33.6%€80.00€34.00€53.465
May ’24€75.42
€49.00
-35.0%
33.4%€80.00€34.00€52.586
Apr ’24€70.00
€46.67
-33.3%
33.0%€80.00€34.00€51.926
Mar ’24€54.68
€46.67
-14.7%
33.0%€80.00€34.00€54.766
Feb ’24€58.04
€46.67
-19.6%
33.0%€80.00€34.00€57.226
Jan ’24€52.00
€118.86
+128.6%
126.5%€480.00€34.00€58.447
Dec ’23€68.92
€179.00
+159.7%
118.6%€600.00€34.00€75.228
Nov ’23€63.36
€184.00
+190.4%
113.7%€600.00€38.00€96.888

Analyst Forecast: Target price is lower than the current share price.

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