PostNL Valuation

Is PN6 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-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 PN6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PN6 (CHF1.75) is trading below our estimate of fair value (CHF4.19)

Significantly Below Fair Value: PN6 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PN6?

Key metric: As PN6 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PN6. This is calculated by dividing PN6's market cap by their current earnings.
What is PN6's PE Ratio?
PE Ratio	29.4x
Earnings	€18.00m
Market Cap	€528.72m

PN6 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	0.3x
Enterprise Value/EBITDA	10.2x
PEG Ratio	0.5x

Price to Earnings Ratio vs Peers

How does PN6's PE Ratio compare to its peers?

The above table shows the PE ratio for PN6 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	15.3x
JFN Jungfraubahn Holding	12.1x	3.3%	CHF 949.8m
BVZN BVZ Holding	7.8x	n/a	CHF 175.6m
2608 Kerry TJ Logistics	16.8x	n/a	NT$18.5b
603535 Guangzhou Jiacheng International LogisticsLtd	24.4x	n/a	CN¥4.0b
PN6 PostNL	29.4x	58.1%	CHF 528.7m

Price-To-Earnings vs Peers: PN6 is expensive based on its Price-To-Earnings Ratio (29.4x) compared to the peer average (15.5x).

Price to Earnings Ratio vs Industry

How does PN6's PE Ratio compare vs other companies in the European Logistics Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: PN6 is expensive based on its Price-To-Earnings Ratio (29.4x) compared to the European Logistics industry average (13.9x).

Price to Earnings Ratio vs Fair Ratio

What is PN6'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.

PN6 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	29.4x
Fair PE Ratio	35.9x

Price-To-Earnings vs Fair Ratio: PN6 is good value based on its Price-To-Earnings Ratio (29.4x) compared to the estimated Fair Price-To-Earnings Ratio (35.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.