Proto Labs, Inc.

DB:PRZ Stock Report

Market Cap: €872.4m

Proto Labs Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: PRZ (€35.68) is trading below our estimate of fair value (€55.45)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PRZ. This is calculated by dividing PRZ's market cap by their current earnings.
What is PRZ's PE Ratio?
PE Ratio38.3x
EarningsUS$23.99m
Market CapUS$918.39m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PRZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.2x
STM Stabilus
12.2x16.6%€875.6m
SLT Schaltbau Holding
138xn/a€627.5m
MBH3 Maschinenfabrik Berthold Hermle
11xn/a€880.0m
KSB KSB SE KGaA
7.7x7.7%€1.1b
PRZ Proto Labs
38.3x-11.5%€918.4m

Price-To-Earnings vs Peers: PRZ is good value based on its Price-To-Earnings Ratio (38.3x) compared to the peer average (42.2x).

Price to Earnings Ratio vs Industry

How does PRZ's PE Ratio compare vs other companies in the DE Machinery Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
PRZ 38.3xIndustry Avg. 14.8xNo. of Companies6PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PRZ is expensive based on its Price-To-Earnings Ratio (38.3x) compared to the German Machinery industry average (14.8x).

Price to Earnings Ratio vs Fair Ratio

What is PRZ'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.

PRZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio38.3x
Fair PE Ratio8.6x

Price-To-Earnings vs Fair Ratio: PRZ is expensive based on its Price-To-Earnings Ratio (38.3x) compared to the estimated Fair Price-To-Earnings Ratio (8.6x).

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 PRZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€35.68
€37.22
+4.3%
9.1%€41.53€33.22n/a3
Nov ’25€25.08
€37.22
+48.4%
9.1%€41.53€33.22n/a3
Oct ’25€25.28
€35.12
+38.9%
16.3%€41.23€27.49n/a3
Sep ’25€27.60
€35.12
+27.3%
16.3%€41.23€27.49n/a3
Aug ’25€30.96
€37.70
+21.8%
12.1%€41.38€31.27n/a3
Jul ’25€27.66
€37.70
+36.3%
12.1%€41.38€31.27n/a3
Jun ’25€28.44
€36.69
+29.0%
13.9%€41.80€31.58n/a2
May ’25€28.58
€38.47
+34.6%
8.4%€41.72€35.23n/a2
Apr ’25€32.94
€38.47
+16.8%
8.4%€41.72€35.23n/a2
Mar ’25€32.82
€38.47
+17.2%
8.4%€41.72€35.23n/a2
Feb ’25€33.56
€34.40
+2.5%
20.0%€41.28€27.52n/a2
Jan ’25€35.80
€34.40
-3.9%
20.0%€41.28€27.52n/a2
Dec ’24€33.94
€38.55
+13.6%
19.8%€45.70€27.98n/a3
Nov ’24€22.06
€38.40
+74.1%
22.4%€46.27€26.44€25.083
Oct ’24€24.92
€37.54
+50.7%
19.3%€44.87€25.64€25.284
Sep ’24€27.82
€37.54
+35.0%
19.3%€44.87€25.64€27.604
Aug ’24€30.12
€36.58
+21.5%
21.6%€44.54€23.63€30.964
Jul ’24€32.02
€36.58
+14.3%
21.6%€44.54€23.63€27.664
Jun ’24€29.08
€36.58
+25.8%
21.6%€44.54€23.63€28.444
May ’24€26.02
€35.14
+35.1%
29.0%€44.73€18.26€28.584
Apr ’24€30.37
€35.91
+18.3%
29.0%€45.70€18.65€32.944
Mar ’24€30.70
€35.91
+17.0%
29.0%€45.70€18.65€32.824
Feb ’24€27.91
€31.64
+13.4%
37.1%€47.46€19.37€33.563
Jan ’24€23.62
€31.64
+34.0%
37.1%€47.46€19.37€35.803
Dec ’23€25.08
€31.64
+26.1%
37.1%€47.46€19.37€33.943
Nov ’23€38.86
€45.77
+17.8%
7.7%€49.29€42.25€22.062

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

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