Vestas Wind Systems A/S

XTRA:VWSB Stock Report

Market Cap: €13.3b

Vestas Wind Systems Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: VWSB (€13.36) is trading below our estimate of fair value (€33.25)

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

Key Valuation Metric

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

Key metric: As VWSB is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for VWSB. This is calculated by dividing VWSB's market cap by their current revenue.
What is VWSB's PS Ratio?
PS Ratio0.8x
Sales€15.93b
Market Cap€13.34b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for VWSB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.6x
ENR Siemens Energy
1x7.3%€35.7b
NDX1 Nordex
0.4x5.1%€2.8b
PNE3 PNE
6.8x19.5%€841.1m
EKT Energiekontor
2.2x27.9%€558.8m
VWSB Vestas Wind Systems
0.8x10.7%€99.5b

Price-To-Sales vs Peers: VWSB is good value based on its Price-To-Sales Ratio (0.8x) compared to the peer average (2.6x).

Price to Sales Ratio vs Industry

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

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
VAR1 Varta
0.1x4.3%US$110.69m
C0M Compleo Charging Solutions
0.1x27.6%US$15.58m
No more companies available in this PS range
VWSB 0.8xIndustry Avg. 1.0xNo. of Companies3PS00.81.62.43.24+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: VWSB is good value based on its Price-To-Sales Ratio (0.8x) compared to the European Electrical industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is VWSB'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.

VWSB PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.8x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: VWSB is expensive based on its Price-To-Sales Ratio (0.8x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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 VWSB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€13.36
€23.39
+75.2%
29.1%€37.53€10.73n/a24
Nov ’25€17.73
€26.44
+49.2%
22.7%€37.53€13.28n/a24
Oct ’25€19.05
€27.61
+45.0%
22.9%€39.74€13.27n/a24
Sep ’25€20.81
€28.25
+35.7%
22.6%€40.21€13.27n/a25
Aug ’25€22.54
€29.20
+29.6%
22.0%€40.21€13.27n/a25
Jul ’25€21.76
€29.58
+35.9%
21.7%€40.21€13.27n/a25
Jun ’25€25.69
€29.83
+16.1%
21.6%€42.23€13.27n/a25
May ’25€25.15
€29.86
+18.7%
21.3%€42.23€13.55n/a25
Apr ’25€25.80
€29.90
+15.9%
21.3%€42.25€13.55n/a25
Mar ’25€26.19
€29.30
+11.9%
22.9%€42.25€13.55n/a24
Feb ’25€26.27
€28.38
+8.0%
24.8%€40.22€13.54n/a23
Jan ’25€28.69
€27.54
-4.0%
24.7%€40.25€13.27n/a23
Dec ’24€25.44
€27.42
+7.8%
24.8%€40.22€13.27n/a23
Nov ’24€20.42
€27.06
+32.6%
25.1%€40.22€13.27€17.7323
Oct ’24€20.15
€27.51
+36.6%
24.6%€40.29€13.28€19.0524
Sep ’24€22.16
€29.31
+32.3%
24.6%€47.77€18.79€20.8124
Aug ’24€24.20
€28.87
+19.3%
23.0%€45.66€16.92€22.5423
Jul ’24€24.42
€29.20
+19.6%
21.7%€45.64€18.79€21.7623
Jun ’24€27.15
€29.15
+7.4%
22.6%€45.64€18.79€25.6923
May ’24€25.13
€29.05
+15.6%
23.3%€45.64€18.81€25.1523
Apr ’24€26.86
€29.07
+8.2%
23.3%€45.64€18.81€25.8023
Mar ’24€27.83
€28.10
+1.0%
25.7%€48.32€16.80€26.1921
Feb ’24€26.48
€27.67
+4.5%
27.3%€48.38€16.80€26.2722
Jan ’24€27.33
€26.08
-4.6%
29.1%€48.40€16.81€28.6921
Dec ’23€24.60
€25.92
+5.4%
29.2%€48.40€16.78€25.4421
Nov ’23€20.41
€25.70
+25.9%
28.7%€48.45€16.80€20.4221

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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