Piovan Valuation

Q: What is the Fair Price of PV0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

PV0 (€13.65) is trading below our estimate of [[fair value]] (€19.46)

Is PV0 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 PV0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PV0 (€13.65) is trading below our estimate of fair value (€19.46)

Significantly Below Fair Value: PV0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PV0?

Key metric: As PV0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PV0. This is calculated by dividing PV0's market cap by their current earnings.
What is PV0's PE Ratio?
PE Ratio	14x
Earnings	€49.90m
Market Cap	€700.42m

PV0 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.4x
Enterprise Value/EBITDA	10.6x
PEG Ratio	1.7x

Price to Earnings Ratio vs Peers

How does PV0's PE Ratio compare to its peers?

The above table shows the PE ratio for PV0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	43.9x
MBH3 Maschinenfabrik Berthold Hermle	10.6x	n/a	€855.0m
STM Stabilus	11.2x	16.6%	€806.5m
MUB Mühlbauer Holding	15.7x	n/a	€491.0m
SLT Schaltbau Holding	138x	n/a	€627.5m
PV0 Piovan	14x	8.2%	€700.4m

Price-To-Earnings vs Peers: PV0 is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (43.9x).

Price to Earnings Ratio vs Industry

How does PV0's PE Ratio compare vs other companies in the DE Machinery Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: PV0 is good value based on its Price-To-Earnings Ratio (14x) compared to the German Machinery industry average (14.3x).

Price to Earnings Ratio vs Fair Ratio

What is PV0'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.

PV0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14x
Fair PE Ratio	11.8x

Price-To-Earnings vs Fair Ratio: PV0 is expensive based on its Price-To-Earnings Ratio (14x) compared to the estimated Fair Price-To-Earnings Ratio (11.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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