NWS Holdings Limited

DB:NWS Stock Report

Market Cap: €4.0b

NWS Holdings Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: NWS (€0.95) is trading below our estimate of fair value (€9.28)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NWS. This is calculated by dividing NWS's market cap by their current earnings.
What is NWS's PE Ratio?
PE Ratio14.8x
EarningsHK$2.19b
Market CapHK$32.38b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NWS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.7x
INH INDUS Holding
8.9x14.9%€548.2m
MBB MBB
20.8x20.5%€559.9m
SIE Siemens
16.8x5.9%€138.3b
UUU 3U Holding
32.1x41.3%€55.7m
NWS NWS Holdings
14.8x13.9%€32.4b

Price-To-Earnings vs Peers: NWS is good value based on its Price-To-Earnings Ratio (14.8x) compared to the peer average (19.7x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NWS 14.8xIndustry Avg. 16.8xNo. of Companies6PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NWS is good value based on its Price-To-Earnings Ratio (14.8x) compared to the European Industrials industry average (16.8x).

Price to Earnings Ratio vs Fair Ratio

What is NWS'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.

NWS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.8x
Fair PE Ratio21.1x

Price-To-Earnings vs Fair Ratio: NWS is good value based on its Price-To-Earnings Ratio (14.8x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).

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 NWS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.94
€1.16
+22.4%
11.2%€1.34€1.05n/a3
Nov ’25€0.92
€1.02
+10.9%
1.7%€1.04€1.00n/a2
Oct ’25€0.88
€1.02
+15.6%
1.7%€1.03€1.00n/a2
Sep ’25€0.80
€1.02
+28.6%
2.3%€1.05€1.00n/a2
Aug ’25€0.77
€1.02
+33.6%
2.3%€1.05€1.00n/a2
Jul ’25€0.84
€1.01
+20.3%
5.3%€1.06€0.96n/a2
Jun ’25€0.79
€1.00
+27.4%
5.3%€1.05€0.95n/a2
May ’25€0.76
€1.00
+32.4%
5.3%€1.05€0.95n/a2
Apr ’25€0.74
€1.00
+34.2%
5.3%€1.05€0.95n/a2
Jun ’24n/a
€1.02
0%
3.5%€1.05€0.98€0.792
May ’24n/a
€1.11
0%
9.6%€1.26€1.00€0.763
Apr ’24n/a
€1.11
0%
9.6%€1.26€1.00€0.743
Mar ’24€0.86
€1.11
+29.2%
9.6%€1.26€1.00€1.003
Feb ’24n/a
€1.27
0%
6.7%€1.35€1.18€0.792
Jan ’24n/a
€1.27
0%
6.7%€1.35€1.18€0.812
Dec ’23€0.78
€1.27
+63.6%
6.7%€1.35€1.18€0.812
Nov ’23€0.71
€1.27
+77.3%
6.7%€1.35€1.18€1.092

Analyst Forecast: Target price is less than 20% higher than the current share price.

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