DKSH Holding Valuation

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

DKSH (CHF60.1) is trading below our estimate of [[fair value]] (CHF93.81)

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

Valuation Score

5/6

Valuation Score 5/6

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

Discounted Cash Flow

Simply Wall St

CHF 93.81

Fair Value

35.9% undervalued

Number of Analysts

Below Fair Value: DKSH (CHF60.1) is trading below our estimate of fair value (CHF93.81)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DKSH. This is calculated by dividing DKSH's market cap by their current earnings.
What is DKSH's PE Ratio?
PE Ratio	18.2x
Earnings	CHF 214.80m
Market Cap	CHF 3.90b

DKSH 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/Revenue	0.4x
Enterprise Value/EBITDA	10.9x
PEG Ratio	2.3x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DKSH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	19.9x
BOSN Bossard Holding	19x	9.1%	CHF 1.4b
BUCN Bucher Industries	15.6x	5.5%	CHF 3.5b
SUN Sulzer	17.7x	11.4%	CHF 4.6b
GF Georg Fischer	27.2x	19.5%	CHF 4.9b
DKSH DKSH Holding	18.2x	7.8%	CHF 3.9b

Price-To-Earnings vs Peers: DKSH is good value based on its Price-To-Earnings Ratio (18.2x) compared to the peer average (19.9x).

Price to Earnings Ratio vs Industry

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

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: DKSH is expensive based on its Price-To-Earnings Ratio (18.2x) compared to the European Trade Distributors industry average (13.9x).

Price to Earnings Ratio vs Fair Ratio

What is DKSH'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.

DKSH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	18.2x
Fair PE Ratio	19.9x

Price-To-Earnings vs Fair Ratio: DKSH is good value based on its Price-To-Earnings Ratio (18.2x) compared to the estimated Fair Price-To-Earnings Ratio (19.9x).

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 DKSH forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CHF 60.10	CHF 79.20 +31.8%	3.1%	CHF 83.00	CHF 76.00	n/a	5
Apr ’26	CHF 68.00	CHF 80.30 +18.1%	3.1%	CHF 83.00	CHF 76.00	n/a	5
Mar ’26	CHF 71.40	CHF 80.30 +12.5%	3.1%	CHF 83.00	CHF 76.00	n/a	5
Feb ’26	CHF 71.60	CHF 77.40 +8.1%	3.3%	CHF 80.00	CHF 73.00	n/a	5
Jan ’26	CHF 67.30	CHF 77.40 +15.0%	3.3%	CHF 80.00	CHF 73.00	n/a	5
Dec ’25	CHF 65.50	CHF 75.40 +15.1%	4.6%	CHF 80.00	CHF 70.00	n/a	5
Nov ’25	CHF 62.50	CHF 73.08 +16.9%	8.6%	CHF 80.00	CHF 62.40	n/a	5
Oct ’25	CHF 66.80	CHF 74.07 +10.9%	8.3%	CHF 80.00	CHF 62.40	n/a	6
Sep ’25	CHF 68.00	CHF 75.07 +10.4%	7.8%	CHF 80.00	CHF 62.40	n/a	6
Aug ’25	CHF 68.80	CHF 75.07 +9.1%	7.8%	CHF 80.00	CHF 62.40	n/a	6
Jul ’25	CHF 61.20	CHF 73.63 +20.3%	6.6%	CHF 79.00	CHF 62.40	n/a	7
Jun ’25	CHF 61.20	CHF 73.77 +20.5%	6.6%	CHF 79.00	CHF 62.40	n/a	7
May ’25	CHF 59.90	CHF 73.40 +22.5%	7.0%	CHF 79.00	CHF 62.40	n/a	6
Apr ’25	CHF 61.35	CHF 73.40 +19.6%	7.0%	CHF 79.00	CHF 62.40	CHF 68.00	6
Mar ’25	CHF 64.70	CHF 73.40 +13.4%	7.0%	CHF 79.00	CHF 62.40	CHF 71.40	6
Feb ’25	CHF 59.75	CHF 71.33 +19.4%	8.9%	CHF 79.00	CHF 59.00	CHF 71.60	6
Jan ’25	CHF 58.40	CHF 72.23 +23.7%	7.7%	CHF 79.00	CHF 61.40	CHF 67.30	6
Dec ’24	CHF 57.45	CHF 72.23 +25.7%	7.7%	CHF 79.00	CHF 61.40	CHF 65.50	6
Nov ’24	CHF 55.85	CHF 79.80 +42.9%	4.6%	CHF 84.00	CHF 73.00	CHF 62.50	5
Oct ’24	CHF 62.05	CHF 79.80 +28.6%	4.6%	CHF 84.00	CHF 73.00	CHF 66.80	5
Sep ’24	CHF 67.15	CHF 78.50 +16.9%	5.7%	CHF 84.00	CHF 72.00	CHF 68.00	6
Aug ’24	CHF 70.25	CHF 78.50 +11.7%	5.7%	CHF 84.00	CHF 72.00	CHF 68.80	6
Jul ’24	CHF 66.55	CHF 79.83 +20.0%	7.6%	CHF 90.00	CHF 71.00	CHF 61.20	6
Jun ’24	CHF 66.25	CHF 79.83 +20.5%	7.6%	CHF 90.00	CHF 71.00	CHF 61.20	6
May ’24	CHF 70.95	CHF 80.50 +13.5%	8.3%	CHF 90.00	CHF 71.00	CHF 59.90	6
Apr ’24	CHF 73.65	CHF 80.50 +9.3%	8.3%	CHF 90.00	CHF 71.00	CHF 61.35	6

AnalystConsensusTarget

Consensus Narrative from 5 Analysts

CHF 79.20

Fair Value

24.1% undervalued

Number of Analysts

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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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/04/27 04:50
End of Day Share Price	2025/04/25 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

DKSH Holding AG is covered by 17 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Josh Puddle	Berenberg
Andrew Grobler	BNP Paribas Exane
Nicholas de la Grense	BofA Global Research