Keppel Ltd.

DB:KEP1 Stock Report

Market Cap: €8.7b

Keppel Valuation

Is KEP1 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-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 KEP1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€4.28
Fair Value
12.1% overvalued intrinsic discount
12
Number of Analysts

Below Fair Value: KEP1 (€4.8) is trading above our estimate of fair value (€4.28)

Significantly Below Fair Value: KEP1 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KEP1?

Key metric: As KEP1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KEP1. This is calculated by dividing KEP1's market cap by their current earnings.
What is KEP1's PE Ratio?
PE Ratio14.7x
EarningsS$832.05m
Market CapS$12.26b

Price to Earnings Ratio vs Peers

How does KEP1's PE Ratio compare to its peers?

The above table shows the PE ratio for KEP1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.4x
INH INDUS Holding
8.6x14.9%€529.0m
SIE Siemens
19.9x6.2%€163.1b
MBB MBB
20.6x7.4%€554.5m
BNR Brenntag
16.6x16.8%€9.0b
KEP1 Keppel
14.7x9.7%€12.3b

Price-To-Earnings vs Peers: KEP1 is good value based on its Price-To-Earnings Ratio (14.7x) compared to the peer average (16.4x).

Price to Earnings Ratio vs Industry

How does KEP1's PE Ratio compare vs other companies in the European Industrials Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KEP1 14.7xIndustry Avg. 16.9xNo. of Companies5PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KEP1 is good value based on its Price-To-Earnings Ratio (14.7x) compared to the European Industrials industry average (18.4x).

Price to Earnings Ratio vs Fair Ratio

What is KEP1'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.

KEP1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.7x
Fair PE Ratio16.4x

Price-To-Earnings vs Fair Ratio: KEP1 is good value based on its Price-To-Earnings Ratio (14.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).

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 KEP1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.80
€5.88
+22.4%
10.9%€6.62€4.56n/a12
Jan ’26€4.77
€5.79
+21.4%
11.9%€6.66€4.28n/a12
Dec ’25€4.68
€5.77
+23.3%
11.9%€6.64€4.27n/a12
Nov ’25€4.40
€5.58
+26.9%
11.0%€6.44€4.21n/a12
Oct ’25€4.64
€5.53
+19.2%
10.8%€6.25€4.20n/a12
Sep ’25€4.20
€5.52
+31.3%
10.8%€6.24€4.19n/a12
Aug ’25€4.42
€5.66
+28.1%
10.3%€6.24€4.19n/a11
Jul ’25€4.38
€5.62
+28.3%
10.2%€6.18€4.16n/a11
Jun ’25€4.54
€5.56
+22.5%
9.9%€6.18€4.15n/a11
May ’25€4.68
€5.56
+18.6%
9.9%€6.18€4.15n/a11
Apr ’25€5.00
€5.59
+11.7%
9.8%€6.22€4.18n/a11
Mar ’25€4.90
€5.59
+14.0%
9.8%€6.22€4.18n/a11
Feb ’25€4.86
€5.36
+10.2%
11.9%€6.26€4.16€4.8311
Jan ’25€4.80
€5.39
+12.4%
11.4%€6.28€4.25€4.7710
Dec ’24€4.68
€5.33
+13.9%
11.6%€6.26€4.23€4.6810
Nov ’24€4.26
€5.22
+22.6%
13.5%€6.27€4.00€4.4011
Oct ’24€4.67
€5.26
+12.5%
13.5%€6.22€3.97€4.6411
Sep ’24€4.70
€5.26
+11.8%
13.5%€6.22€3.97€4.2011
Aug ’24€5.00
€5.26
+5.1%
13.5%€6.22€3.97€4.4211
Jul ’24€4.50
€4.91
+9.0%
16.7%€6.19€3.64€4.3811
Jun ’24€4.28
€4.91
+14.6%
16.7%€6.19€3.64€4.5411
May ’24€4.17
€4.91
+17.6%
16.7%€6.19€3.64€4.6811
Apr ’24€3.84
€5.01
+30.4%
24.7%€6.99€3.56€5.0010
Mar ’24€3.86
€5.33
+38.1%
28.1%€7.05€3.59€4.908
Feb ’24€5.25
€6.06
+15.3%
14.2%€7.09€4.07€4.869
Analyst Price Target
Consensus Narrative from 12 Analysts
€5.83
Fair Value
17.7% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/06 05:08
End of Day Share Price 2025/02/06 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Keppel Ltd. is covered by 38 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Khir GohAmInvestment Bank Berhad
Clement ChenBarclays
H. YoonBNP Paribas Securities (Asia)