Nordex Valuation

Is NDX1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 NDX1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NDX1 (€11.81) is trading above our estimate of fair value (€11.67)

Significantly Below Fair Value: NDX1 is trading above our estimate of fair value.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for NDX1?

Key metric: As NDX1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NDX1. This is calculated by dividing NDX1's market cap by their current earnings.
What is NDX1's PE Ratio?
PE Ratio126x
Earnings€22.31m
Market Cap€2.81b

Price to Earnings Ratio vs Peers

How does NDX1's PE Ratio compare to its peers?

The above table shows the PE ratio for NDX1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.9x
EKT Energiekontor
8.2x9.1%€608.6m
2GB 2G Energy
21.8x20.5%€392.0m
ENR Siemens Energy
32.5x23.2%€38.5b
JUN3 Jungheinrich
8.9x6.9%€2.5b
NDX1 Nordex
126x63.7%€2.8b

Price-To-Earnings vs Peers: NDX1 is expensive based on its Price-To-Earnings Ratio (126x) compared to the peer average (17.9x).


Price to Earnings Ratio vs Industry

How does NDX1's PE Ratio compare vs other companies in the European Electrical Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NDX1 126.0xIndustry Avg. 16.3xNo. of Companies10PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NDX1 is expensive based on its Price-To-Earnings Ratio (126x) compared to the European Electrical industry average (16.3x).


Price to Earnings Ratio vs Fair Ratio

What is NDX1'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.

NDX1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio126x
Fair PE Ratio49.4x

Price-To-Earnings vs Fair Ratio: NDX1 is expensive based on its Price-To-Earnings Ratio (126x) compared to the estimated Fair Price-To-Earnings Ratio (49.4x).


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 NDX1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.81
€17.78
+50.6%
13.4%€22.00€14.00n/a12
Nov ’25€13.19
€18.24
+38.3%
11.2%€22.00€15.10n/a11
Oct ’25€13.43
€18.35
+36.6%
11.3%€22.00€15.00n/a10
Sep ’25€14.48
€17.86
+23.4%
14.0%€22.00€13.00n/a11
Aug ’25€13.43
€17.86
+33.0%
14.0%€22.00€13.00n/a11
Jul ’25€11.43
€17.65
+54.4%
14.5%€22.00€13.00n/a11
Jun ’25€14.55
€17.74
+21.9%
14.2%€22.00€13.00n/a11
May ’25€13.20
€16.26
+23.2%
15.3%€22.00€13.00n/a11
Apr ’25€12.11
€16.13
+33.2%
15.4%€22.00€13.00n/a11
Mar ’25€11.31
€14.99
+32.5%
18.8%€22.00€11.00n/a11
Feb ’25€9.36
€14.73
+57.4%
19.1%€22.00€11.00n/a11
Jan ’25€10.43
€14.82
+42.1%
18.9%€22.00€11.00n/a11
Dec ’24€10.38
€14.95
+44.1%
18.8%€22.00€11.00n/a11
Nov ’24€9.83
€15.56
+58.4%
20.5%€24.00€11.00€13.1911
Oct ’24€11.87
€15.68
+32.1%
19.9%€24.00€11.00€13.4312
Sep ’24€11.07
€15.80
+42.8%
20.3%€24.00€11.00€14.4811
Aug ’24€12.40
€15.80
+27.4%
20.3%€24.00€11.00€13.4311
Jul ’24€11.33
€14.29
+26.1%
11.4%€17.00€11.00€11.4310
Jun ’24€11.58
€13.88
+19.8%
10.6%€16.00€11.00€14.559
May ’24€10.93
€14.64
+34.0%
8.3%€16.00€13.00€13.208
Apr ’24€13.35
€13.74
+3.0%
16.6%€16.00€9.00€12.119
Mar ’24€14.55
€13.90
-4.4%
17.6%€16.00€9.00€11.318
Feb ’24€14.03
€13.84
-1.3%
17.3%€16.00€9.00€9.368
Jan ’24€13.15
€12.39
-5.8%
12.1%€14.00€9.00€10.438
Dec ’23€12.25
€12.39
+1.2%
12.1%€14.00€9.00€10.388
Nov ’23€9.13
€11.81
+29.4%
19.4%€16.00€8.00€9.839

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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