Kempower Oyj

DB:D9C Stock Report

Market Cap: €501.3m

Kempower Oyj Valuation

Is D9C 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-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 D9C when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: D9C (€8.9) is trading below our estimate of fair value (€14.17)

Significantly Below Fair Value: D9C is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for D9C?

Key metric: As D9C is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for D9C. This is calculated by dividing D9C's market cap by their current revenue.
What is D9C's PS Ratio?
PS Ratio2.1x
Sales€234.81m
Market Cap€501.33m

Price to Sales Ratio vs Peers

How does D9C's PS Ratio compare to its peers?

The above table shows the PS ratio for D9C vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
F3C SFC Energy
2.1x20.0%€290.0m
SGL SGL Carbon
0.5x6.9%€500.1m
CEA FRIWO
2.2xn/a€207.0m
VAR1 Varta
0.1x4.3%€85.4m
D9C Kempower Oyj
2.1x19.8%€501.3m

Price-To-Sales vs Peers: D9C is expensive based on its Price-To-Sales Ratio (2.1x) compared to the peer average (1.2x).

Price to Sales Ratio vs Industry

How does D9C's PS Ratio compare vs other companies in the DE Electrical Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
VAR1 Varta
0.1x4.3%US$90.10m
C0M Compleo Charging Solutions
0.1x27.6%US$15.58m
LMIA LION E-Mobility
0.2x29.5%US$8.94m
No more companies available in this PS range
D9C 2.1xIndustry Avg. 1.0xNo. of Companies3PS012345+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: D9C is expensive based on its Price-To-Sales Ratio (2.1x) compared to the European Electrical industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is D9C'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.

D9C PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.1x
Fair PS Ratio1.5x

Price-To-Sales vs Fair Ratio: D9C is expensive based on its Price-To-Sales Ratio (2.1x) compared to the estimated Fair Price-To-Sales Ratio (1.5x).

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 D9C forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.90
€14.92
+67.7%
26.8%€20.03€9.49n/a5
Nov ’25€9.84
€15.08
+53.3%
25.3%€20.00€9.51n/a5
Oct ’25€11.34
€15.97
+40.8%
26.3%€20.51€10.00n/a5
Sep ’25€12.02
€17.19
+43.0%
18.0%€20.38€11.99n/a5
Aug ’25€14.73
€22.24
+51.0%
31.2%€35.79€15.90n/a5
Jul ’25€22.50
€31.09
+38.2%
21.1%€39.43€20.51n/a6
Jun ’25€21.76
€30.06
+38.1%
20.6%€38.02€20.26n/a6
May ’25€19.92
€30.06
+50.9%
20.6%€38.02€20.26n/a6
Apr ’25€20.44
€33.27
+62.8%
18.1%€39.42€24.46n/a6
Mar ’25€22.92
€36.55
+59.5%
12.6%€40.32€28.34n/a6
Feb ’25€29.34
€47.57
+62.1%
20.2%€66.59€36.84n/a6
Jan ’25€31.98
€48.66
+52.2%
19.8%€66.54€36.80n/a6
Dec ’24€27.66
€50.17
+81.4%
17.2%€65.42€39.30n/a5
Nov ’24€32.26
€48.94
+51.7%
15.9%€62.60€39.41€9.845
Oct ’24€48.76
€51.93
+6.5%
14.6%€64.10€40.35€11.345
Sep ’24€43.84
€43.71
-0.3%
8.1%€48.33€38.98€12.024
Aug ’24€40.00
€42.50
+6.3%
18.6%€50.11€29.53€14.734
Jul ’24€33.86
€32.54
-3.9%
10.2%€38.00€29.13€22.504
Jun ’24€32.54
€31.63
-2.8%
3.9%€32.94€29.99€21.763
May ’24€32.20
€29.80
-7.4%
12.9%€33.01€24.39€19.923
Apr ’24€24.92
€26.97
+8.2%
5.7%€28.72€24.97€20.443
Mar ’24€26.00
€26.97
+3.7%
5.7%€28.72€24.97€22.923
Feb ’24€23.58
€23.30
-1.2%
8.2%€25.95€21.51€29.343
Jan ’24€20.91
€23.05
+10.2%
3.6%€24.06€22.06€31.983
Dec ’23€23.19
€23.05
-0.6%
3.6%€24.06€22.06€27.663
Nov ’23€20.74
€23.05
+11.1%
3.6%€24.06€22.06€32.263

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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