BKW AG

SWX:BKW Stock Report

Market Cap: CHF 7.8b

BKW Valuation

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

Below Fair Value: BKW (CHF147.4) is trading below our estimate of fair value (CHF254.2)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BKW. This is calculated by dividing BKW's market cap by their current earnings.
What is BKW's PE Ratio?
PE Ratio15.5x
EarningsCHF 500.90m
Market CapCHF 7.78b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BKW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.8x
REHN Romande Energie Holding
7.2x-15.1%CHF 1.1b
NEAG naturenergie holding
10.7x3.3%CHF 1.2b
MER Manila Electric
12.4x6.2%₱539.9b
9502 Chubu Electric Power Company
5x-6.7%JP¥1.2t
BKW BKW
15.5x4.4%CHF 7.8b

Price-To-Earnings vs Peers: BKW is expensive based on its Price-To-Earnings Ratio (15.5x) compared to the peer average (8.8x).

Price to Earnings Ratio vs Industry

How does BKW's PE Ratio compare vs other companies in the European Electric Utilities Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BKW 15.5xIndustry Avg. 12.6xNo. of Companies11PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BKW is expensive based on its Price-To-Earnings Ratio (15.5x) compared to the European Electric Utilities industry average (12.6x).

Price to Earnings Ratio vs Fair Ratio

What is BKW'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.

BKW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.5x
Fair PE Ratio12.3x

Price-To-Earnings vs Fair Ratio: BKW is expensive based on its Price-To-Earnings Ratio (15.5x) compared to the estimated Fair Price-To-Earnings Ratio (12.3x).

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 BKW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 147.40
CHF 172.75
+17.2%
7.7%CHF 195.00CHF 160.00n/a4
Dec ’25CHF 151.40
CHF 171.25
+13.1%
8.4%CHF 195.00CHF 160.00n/a4
Nov ’25CHF 152.10
CHF 160.00
+5.2%
5.1%CHF 170.00CHF 150.00n/a3
Oct ’25CHF 152.90
CHF 162.40
+6.2%
6.6%CHF 179.00CHF 150.00n/a5
Sep ’25CHF 159.60
CHF 162.40
+1.8%
6.6%CHF 179.00CHF 150.00n/a5
Aug ’25CHF 158.80
CHF 160.40
+1.0%
7.4%CHF 179.00CHF 150.00n/a5
Jul ’25CHF 146.00
CHF 159.40
+9.2%
8.0%CHF 179.00CHF 148.00n/a5
Jun ’25CHF 142.00
CHF 159.40
+12.3%
8.0%CHF 179.00CHF 148.00n/a5
May ’25CHF 136.30
CHF 159.40
+16.9%
8.0%CHF 179.00CHF 148.00n/a5
Apr ’25CHF 138.40
CHF 158.00
+14.2%
9.0%CHF 179.00CHF 140.00n/a5
Mar ’25CHF 125.10
CHF 155.00
+23.9%
7.2%CHF 170.00CHF 140.00n/a4
Feb ’25CHF 138.60
CHF 165.00
+19.0%
6.8%CHF 180.00CHF 150.00n/a4
Jan ’25CHF 149.50
CHF 165.00
+10.4%
6.8%CHF 180.00CHF 150.00n/a4
Dec ’24CHF 154.80
CHF 166.22
+7.4%
5.5%CHF 180.00CHF 153.00CHF 151.405
Nov ’24CHF 153.20
CHF 166.22
+8.5%
5.5%CHF 180.00CHF 153.00CHF 152.105
Oct ’24CHF 161.50
CHF 166.22
+2.9%
5.5%CHF 180.00CHF 153.00CHF 152.905
Sep ’24CHF 153.00
CHF 158.62
+3.7%
4.7%CHF 168.10CHF 150.00CHF 159.605
Aug ’24CHF 156.10
CHF 158.62
+1.6%
4.7%CHF 168.10CHF 150.00CHF 158.805
Jul ’24CHF 158.00
CHF 158.62
+0.4%
4.7%CHF 168.10CHF 150.00CHF 146.005
Jun ’24CHF 162.90
CHF 159.62
-2.0%
4.1%CHF 168.10CHF 150.00CHF 142.005
May ’24CHF 153.00
CHF 158.40
+3.5%
6.2%CHF 174.00CHF 148.00CHF 136.305
Apr ’24CHF 143.80
CHF 158.40
+10.2%
6.2%CHF 174.00CHF 148.00CHF 138.405
Mar ’24CHF 130.80
CHF 153.60
+17.4%
7.7%CHF 174.00CHF 140.00CHF 125.105
Feb ’24CHF 131.30
CHF 152.40
+16.1%
8.4%CHF 174.00CHF 140.00CHF 138.605
Jan ’24CHF 126.50
CHF 141.25
+11.7%
7.2%CHF 150.00CHF 125.00CHF 149.504
Dec ’23CHF 123.80
CHF 141.25
+14.1%
7.2%CHF 150.00CHF 125.00CHF 154.804

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 04:40
End of Day Share Price 2024/12/18 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

BKW AG is covered by 10 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
Gerhard SchwarzBaader Helvea Equity Research
Marta BruskaBaader Helvea Equity Research
Andreas von ArxBaader Helvea Equity Research