Hazama Ando Corporation

DB:2PW Stock Report

Market Cap: €1.1b

Hazama Ando Valuation

Is 2PW 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 2PW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2PW (€7) is trading above our estimate of fair value (€5.18)

Significantly Below Fair Value: 2PW is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2PW?

Key metric: As 2PW is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2PW. This is calculated by dividing 2PW's market cap by their current earnings.
What is 2PW's PE Ratio?
PE Ratio10.9x
EarningsJP¥16.76b
Market CapJP¥183.07b

Price to Earnings Ratio vs Peers

How does 2PW's PE Ratio compare to its peers?

The above table shows the PE ratio for 2PW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.7x
B5A BAUER
30.5x38.2%€166.1m
HOT HOCHTIEF
11.9x2.9%€8.6b
KSB KSB SE KGaA
7.8x10.5%€1.1b
OHB OHB
12.7x11.0%€886.8m
2PW Hazama Ando
10.9x-0.6%€183.1b

Price-To-Earnings vs Peers: 2PW is good value based on its Price-To-Earnings Ratio (10.9x) compared to the peer average (15.7x).

Price to Earnings Ratio vs Industry

How does 2PW's PE Ratio compare vs other companies in the European Construction Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
2PW 10.9xIndustry Avg. 12.6xNo. of Companies19PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2PW is good value based on its Price-To-Earnings Ratio (10.9x) compared to the European Construction industry average (12.6x).

Price to Earnings Ratio vs Fair Ratio

What is 2PW'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.

2PW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.9x
Fair PE Ratio10.1x

Price-To-Earnings vs Fair Ratio: 2PW is expensive based on its Price-To-Earnings Ratio (10.9x) compared to the estimated Fair Price-To-Earnings Ratio (10.1x).

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 2PW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€7.00
€6.82
-2.6%
2.2%€6.97€6.67n/a2
Nov ’25€6.65
€7.01
+5.5%
2.2%€7.17€6.86n/a2
Oct ’25€6.85
€7.01
+2.4%
2.2%€7.17€6.86n/a2
Sep ’25€7.05
€7.01
-0.5%
2.2%€7.17€6.86n/a2
Aug ’25€7.15
€6.58
-8.0%
2.2%€6.72€6.43n/a2
Jul ’25€6.65
€6.58
-1.1%
2.2%€6.72€6.43n/a2
Jun ’25€6.55
€5.99
-8.5%
13.3%€6.79€5.20n/a2
May ’25€6.90
€6.22
-9.9%
13.3%€7.04€5.39n/a2
Apr ’25€7.10
€6.22
-12.5%
13.3%€7.04€5.39n/a2
Mar ’25€7.50
€6.22
-17.1%
13.3%€7.04€5.39n/a2
Feb ’25€7.40
€6.18
-16.5%
11.5%€7.15€5.47n/a3
Jan ’25€7.00
€5.82
-16.9%
3.8%€6.04€5.60n/a2
Dec ’24€6.70
€5.77
-13.9%
5.2%€6.11€5.38n/a3
Nov ’24€7.25
€6.42
-11.4%
5.9%€6.69€5.89€6.653
Oct ’24€7.30
€6.42
-12.0%
5.9%€6.69€5.89€6.853
Sep ’24€7.55
€6.42
-14.9%
5.9%€6.69€5.89€7.053
Aug ’24€7.20
€6.42
-10.8%
5.9%€6.69€5.89€7.153
Jul ’24€6.70
€6.42
-4.2%
5.9%€6.69€5.89€6.653
Jun ’24€6.75
€6.16
-8.7%
5.7%€6.65€5.85€6.553
May ’24€5.85
€6.55
+12.0%
8.0%€7.30€6.11€6.903
Apr ’24€5.85
€6.55
+12.0%
8.0%€7.30€6.11€7.103
Mar ’24€5.90
€6.55
+11.1%
8.0%€7.30€6.11€7.503
Feb ’24€5.90
€6.54
+10.9%
8.0%€7.28€6.10€7.403
Jan ’24€5.85
€6.54
+11.8%
8.0%€7.28€6.10€7.003
Dec ’23€5.95
€6.54
+9.9%
8.0%€7.28€6.10€6.703
Nov ’23€5.80
€6.76
+16.6%
8.0%€7.52€6.31€7.253

Analyst Forecast: Target price is lower than the current share price.

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