Bunzl plc

DB:BUZ1 Stock Report

Market Cap: €13.2b

Bunzl Valuation

Is BUZ1 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 BUZ1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BUZ1 (€40) is trading below our estimate of fair value (€50.37)

Significantly Below Fair Value: BUZ1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BUZ1?

Key metric: As BUZ1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BUZ1. This is calculated by dividing BUZ1's market cap by their current earnings.
What is BUZ1's PE Ratio?
PE Ratio22.5x
EarningsUK£487.70m
Market CapUK£10.96b

Price to Earnings Ratio vs Peers

How does BUZ1's PE Ratio compare to its peers?

The above table shows the PE ratio for BUZ1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.3x
BNR Brenntag
15.6x15.9%€8.5b
KBX Knorr-Bremse
18.7x11.1%€11.2b
8TRA Traton
5.4x8.6%€14.0b
HOT HOCHTIEF
13.5x1.9%€9.7b
BUZ1 Bunzl
22.5x7.1%€11.0b

Price-To-Earnings vs Peers: BUZ1 is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the peer average (13.3x).

Price to Earnings Ratio vs Industry

How does BUZ1's PE Ratio compare vs other companies in the European Trade Distributors Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BUZ1 22.5xIndustry Avg. 14.3xNo. of Companies10PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BUZ1 is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the European Trade Distributors industry average (14.3x).

Price to Earnings Ratio vs Fair Ratio

What is BUZ1'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.

BUZ1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.5x
Fair PE Ratio16.6x

Price-To-Earnings vs Fair Ratio: BUZ1 is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the estimated Fair Price-To-Earnings Ratio (16.6x).

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 BUZ1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€40.00
€42.92
+7.3%
11.1%€49.41€33.74n/a16
Dec ’25€42.54
€41.76
-1.8%
10.2%€47.69€33.39n/a16
Nov ’25€40.50
€41.76
+3.1%
10.2%€47.69€33.39n/a16
Oct ’25€42.30
€40.73
-3.7%
9.7%€47.37€33.16n/a16
Sep ’25€42.00
€40.31
-4.0%
10.6%€47.53€30.89n/a16
Aug ’25€38.42
€38.33
-0.2%
11.4%€45.10€30.86n/a17
Jul ’25€35.56
€37.62
+5.8%
11.4%€43.57€30.62n/a17
Jun ’25€35.10
€36.84
+5.0%
11.3%€43.03€30.24n/a17
May ’25€36.20
€36.87
+1.8%
11.4%€43.09€30.28n/a17
Apr ’25€35.68
€36.80
+3.1%
11.4%€43.22€30.37n/a17
Mar ’25€36.86
€36.74
-0.3%
12.0%€43.21€29.20n/a16
Feb ’25€37.66
€35.70
-5.2%
12.3%€43.23€29.21n/a15
Jan ’25€36.80
€34.83
-5.4%
12.0%€41.57€28.87n/a15
Dec ’24€34.95
€34.44
-1.5%
11.8%€41.34€28.71€42.5415
Nov ’24€33.68
€34.44
+2.3%
11.8%€41.34€28.71€40.5015
Oct ’24€33.61
€34.34
+2.2%
12.3%€41.72€28.97€42.3016
Sep ’24€33.70
€34.72
+3.0%
12.2%€42.06€29.21€42.0017
Aug ’24€33.66
€35.19
+4.6%
12.3%€42.00€29.17€38.4218
Jul ’24€34.51
€35.42
+2.6%
11.7%€42.04€29.19€35.5618
Jun ’24€36.65
€34.82
-5.0%
11.5%€40.89€28.33€35.1019
May ’24€35.67
€34.29
-3.9%
11.5%€40.75€27.90€36.2018
Apr ’24€34.60
€34.06
-1.6%
11.1%€40.98€28.06€35.6817
Mar ’24€33.80
€33.58
-0.7%
12.0%€40.66€26.38€36.8618
Feb ’24€33.80
€33.39
-1.2%
11.9%€41.07€26.64€37.6618
Jan ’24€31.60
€33.44
+5.8%
12.4%€41.08€25.62€36.8019
Dec ’23€35.60
€34.01
-4.5%
12.7%€41.63€25.96€34.9519

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 Analysis2024/12/27 03:52
End of Day Share Price 2024/12/27 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

Bunzl plc is covered by 44 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Paul Daniel CheckettsBarclays
James RosenthalBarclays
Thomas BurltonBerenberg