Implenia AG

SWX:IMPN Stock Report

Market Cap: CHF 558.4m

Implenia Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Discounted Cash Flow
Simply Wall St
CHF 104.23
Fair Value
70.9% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: IMPN (CHF30.35) is trading below our estimate of fair value (CHF104.23)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for IMPN. This is calculated by dividing IMPN's market cap by their current earnings.
What is IMPN's PE Ratio?
PE Ratio4.1x
EarningsCHF 134.94m
Market CapCHF 558.37m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for IMPN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.4x
BRKN Burkhalter Holding
18.7x4.0%CHF 1.0b
RSGN R&S Group Holding
59.8xn/aCHF 554.4m
SWTQ Schweiter Technologies
16.4x23.2%CHF 593.5m
ZEHN Zehnder Group
22.5x43.5%CHF 481.7m
IMPN Implenia
4.1x-9.4%CHF 558.4m

Price-To-Earnings vs Peers: IMPN is good value based on its Price-To-Earnings Ratio (4.1x) compared to the peer average (29.4x).

Price to Earnings Ratio vs Industry

How does IMPN's PE Ratio compare vs other companies in the European Construction Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IMPN 4.1xIndustry Avg. 13.4xNo. of Companies20PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IMPN is good value based on its Price-To-Earnings Ratio (4.1x) compared to the European Construction industry average (13.4x).

Price to Earnings Ratio vs Fair Ratio

What is IMPN'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.

IMPN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.1x
Fair PE Ratio11.5x

Price-To-Earnings vs Fair Ratio: IMPN is good value based on its Price-To-Earnings Ratio (4.1x) compared to the estimated Fair Price-To-Earnings Ratio (11.5x).

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 IMPN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 30.35
CHF 38.33
+26.3%
6.5%CHF 41.00CHF 35.00n/a3
Jan ’26CHF 30.70
CHF 38.33
+24.9%
6.5%CHF 41.00CHF 35.00n/a3
Dec ’25CHF 29.20
CHF 38.33
+31.3%
6.5%CHF 41.00CHF 35.00n/a3
Nov ’25CHF 30.90
CHF 38.33
+24.1%
6.5%CHF 41.00CHF 35.00n/a3
Oct ’25CHF 31.90
CHF 38.33
+20.2%
6.5%CHF 41.00CHF 35.00n/a3
Sep ’25CHF 31.40
CHF 38.33
+22.1%
6.5%CHF 41.00CHF 35.00n/a3
Aug ’25CHF 31.90
CHF 38.33
+20.2%
6.5%CHF 41.00CHF 35.00n/a3
Jul ’25CHF 32.85
CHF 38.33
+16.7%
6.5%CHF 41.00CHF 35.00n/a3
Jun ’25CHF 34.50
CHF 38.33
+11.1%
6.5%CHF 41.00CHF 35.00n/a3
May ’25CHF 33.75
CHF 38.33
+13.6%
6.5%CHF 41.00CHF 35.00n/a3
Apr ’25CHF 32.70
CHF 37.00
+13.1%
5.4%CHF 39.00CHF 35.00n/a2
Mar ’25CHF 30.65
CHF 38.50
+25.6%
1.3%CHF 39.00CHF 38.00n/a2
Feb ’25CHF 30.45
CHF 39.50
+29.7%
3.8%CHF 41.00CHF 38.00n/a2
Sep ’24CHF 31.25
CHF 45.50
+45.6%
16.5%CHF 53.00CHF 38.00CHF 31.402
Aug ’24CHF 42.45
CHF 48.50
+14.3%
17.5%CHF 57.00CHF 40.00CHF 31.902
Jul ’24CHF 43.45
CHF 48.50
+11.6%
17.5%CHF 57.00CHF 40.00CHF 32.852
Jun ’24CHF 46.40
CHF 48.50
+4.5%
17.5%CHF 57.00CHF 40.00CHF 34.502
Feb ’24CHF 38.60
CHF 38.00
-1.6%
5.3%CHF 40.00CHF 36.00CHF 30.452
Jan ’24CHF 38.05
CHF 38.00
-0.1%
5.3%CHF 40.00CHF 36.00CHF 30.502
Analyst Price Target
Consensus Narrative from 3 Analysts
CHF 38.33
Fair Value
20.8% undervalued intrinsic discount
3
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

DataLast Updated (UTC time)
Company Analysis2025/01/10 23:20
End of Day Share Price 2025/01/10 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 here.

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 .

Analyst Sources

Implenia AG is covered by 12 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Patrick AppenzellerBaader Helvea Equity Research
Christian ArnoldBank Vontobel AG
Torsten SauterBerenberg