Subaru Corporation

DB:FUH Stock Report

Market Cap: €11.2b

Subaru Valuation

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

Below Fair Value: FUH (€15.1) is trading below our estimate of fair value (€42.12)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FUH. This is calculated by dividing FUH's market cap by their current earnings.
What is FUH's PE Ratio?
PE Ratio4.6x
EarningsJP¥397.17b
Market CapJP¥1.81t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FUH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average6.3x
PAH3 Porsche Automobil Holding
2.8x18.5%€10.6b
BMW Bayerische Motoren Werke
5.3x5.6%€43.2b
VOW3 Volkswagen
3.4x9.6%€42.1b
P911 Dr. Ing. h.c. F. Porsche
13.6x11.3%€54.0b
FUH Subaru
4.6x-3.3%€1.8t

Price-To-Earnings vs Peers: FUH is good value based on its Price-To-Earnings Ratio (4.6x) compared to the peer average (6.3x).

Price to Earnings Ratio vs Industry

How does FUH's PE Ratio compare vs other companies in the Global Auto Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
FUH 4.6xIndustry Avg. 15.6xNo. of Companies14PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FUH is good value based on its Price-To-Earnings Ratio (4.6x) compared to the Global Auto industry average (15.7x).

Price to Earnings Ratio vs Fair Ratio

What is FUH'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.

FUH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.6x
Fair PE Ratio6.1x

Price-To-Earnings vs Fair Ratio: FUH is good value based on its Price-To-Earnings Ratio (4.6x) compared to the estimated Fair Price-To-Earnings Ratio (6.1x).

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 FUH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€15.10
€18.26
+20.9%
21.3%€26.59€11.48n/a14
Nov ’25€14.70
€18.36
+24.9%
20.7%€26.54€11.46n/a14
Oct ’25€15.50
€19.50
+25.8%
21.1%€27.84€12.02n/a14
Sep ’25€17.00
€20.31
+19.5%
21.9%€27.23€11.76n/a14
Aug ’25€17.20
€21.85
+27.0%
18.7%€31.38€14.21n/a14
Jul ’25€19.40
€21.52
+10.9%
18.9%€31.30€12.99n/a14
Jun ’25€20.40
€21.44
+5.1%
19.5%€31.38€13.02n/a14
May ’25€20.80
€21.62
+3.9%
15.9%€26.72€13.36n/a14
Apr ’25€20.80
€21.58
+3.7%
16.4%€27.26€13.01n/a14
Mar ’25€20.60
€20.85
+1.2%
17.7%€26.43€12.91n/a13
Feb ’25€18.40
€18.95
+3.0%
18.8%€26.87€13.12n/a15
Jan ’25€16.40
€19.38
+18.2%
18.7%€27.59€14.76n/a15
Dec ’24€16.40
€18.92
+15.4%
18.8%€26.65€14.25n/a15
Nov ’24€16.90
€18.86
+11.6%
18.1%€25.83€14.49€14.7015
Oct ’24€18.30
€18.74
+2.4%
17.3%€26.01€13.96€15.5015
Sep ’24€17.70
€18.52
+4.7%
17.9%€25.98€13.94€17.0015
Aug ’24€17.50
€17.45
-0.3%
15.6%€24.73€13.95€17.2015
Jul ’24€17.00
€16.86
-0.8%
18.2%€24.70€12.04€19.4015
Jun ’24€15.90
€17.16
+7.9%
16.4%€23.50€12.76€20.4015
May ’24€14.70
€16.72
+13.7%
18.5%€23.60€12.81€20.8015
Apr ’24€14.43
€17.53
+21.5%
18.1%€24.64€13.38€20.8015
Mar ’24€15.15
€18.00
+18.8%
19.7%€24.77€13.09€20.6015
Feb ’24€15.11
€18.80
+24.5%
20.9%€24.80€13.11€18.4014
Jan ’24€14.73
€19.83
+34.6%
17.1%€24.90€14.23€16.4015
Dec ’23€15.91
€19.59
+23.1%
15.8%€24.38€13.93€16.4016
Nov ’23€15.84
€18.69
+18.0%
16.3%€23.74€13.57€16.9017

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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