PNE AG

XTRA:PNE3 Stock Report

Market Cap: €836.5m

PNE Valuation

Is PNE3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PNE3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PNE3 (€10.92) is trading above our estimate of fair value (€0.79)

Significantly Below Fair Value: PNE3 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PNE3?

Key metric: As PNE3 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PNE3. This is calculated by dividing PNE3's market cap by their current revenue.
What is PNE3's PS Ratio?
PS Ratio6.8x
Sales€123.43m
Market Cap€836.51m

Price to Sales Ratio vs Peers

How does PNE3's PS Ratio compare to its peers?

The above table shows the PS ratio for PNE3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.7x
EKT Energiekontor
2.2x27.9%€556.7m
2GB 2G Energy
1.1x11.9%€380.3m
NDX1 Nordex
0.4x5.1%€2.7b
H2O Enapter
3x42.2%€116.3m
PNE3 PNE
6.8x19.5%€836.5m

Price-To-Sales vs Peers: PNE3 is expensive based on its Price-To-Sales Ratio (6.8x) compared to the peer average (1.7x).

Price to Sales Ratio vs Industry

How does PNE3's PS Ratio compare vs other companies in the DE Electrical Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
VAR1 Varta
0.1x4.3%US$92.79m
C0M Compleo Charging Solutions
0.1x27.6%US$15.58m
No more companies available in this PS range
PNE3 6.8xIndustry Avg. 1.0xNo. of Companies3PS00.81.62.43.24+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PNE3 is expensive based on its Price-To-Sales Ratio (6.8x) compared to the European Electrical industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is PNE3's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PNE3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.8x
Fair PS Ratio4.7x

Price-To-Sales vs Fair Ratio: PNE3 is expensive based on its Price-To-Sales Ratio (6.8x) compared to the estimated Fair Price-To-Sales Ratio (4.7x).

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 PNE3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.92
€18.60
+70.3%
22.2%€22.80€13.00n/a3
Nov ’25€11.70
€20.07
+71.5%
19.8%€24.40€14.80n/a3
Oct ’25€11.76
€20.07
+70.6%
19.8%€24.40€14.80n/a3
Sep ’25€12.92
€20.07
+55.3%
19.8%€24.40€14.80n/a3
Aug ’25€14.60
€20.43
+40.0%
17.1%€24.40€15.90n/a3
Jul ’25€13.64
€20.43
+49.8%
17.1%€24.40€15.90n/a3
Jun ’25€14.92
€20.43
+37.0%
17.1%€24.40€15.90n/a3
May ’25€13.42
€20.13
+50.0%
19.3%€24.40€15.00n/a3
Apr ’25€13.40
€19.53
+45.7%
27.1%€24.40€12.18n/a3
Mar ’25€13.54
€20.29
+49.9%
29.8%€26.70€12.18n/a3
Feb ’25€13.38
€20.29
+51.7%
29.8%€26.70€12.18n/a3
Jan ’25€13.84
€20.29
+46.6%
29.8%€26.70€12.18n/a3
Dec ’24€12.30
€20.29
+65.0%
29.8%€26.70€12.18n/a3
Nov ’24€12.00
€22.33
+86.1%
22.1%€26.60€15.40€11.703
Oct ’24€13.14
€22.33
+70.0%
22.1%€26.60€15.40€11.763
Sep ’24€12.56
€22.33
+77.8%
22.1%€26.60€15.40€12.923
Aug ’24€13.28
€22.33
+68.2%
22.1%€26.60€15.40€14.603
Jul ’24€14.16
€22.33
+57.7%
22.1%€26.60€15.40€13.643
Jun ’24€14.08
€22.33
+58.6%
22.1%€26.60€15.40€14.923
May ’24€14.82
€22.27
+50.2%
22.6%€26.60€15.20€13.423
Apr ’24€13.74
€22.47
+63.5%
22.9%€26.20€15.20€13.403
Mar ’24€16.02
€23.53
+46.9%
15.4%€26.20€18.40€13.543
Feb ’24€16.00
€22.40
+40.0%
23.4%€26.20€15.00€13.383
Jan ’24€21.35
€22.40
+4.9%
23.4%€26.20€15.00€13.843
Dec ’23€22.35
€19.77
-11.6%
23.9%€26.20€15.00€12.303
Nov ’23€19.70
€16.00
-18.8%
8.0%€17.80€15.00€12.003

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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