Xinyi Glass Holdings Limited

DB:XI9 Stock Report

Market Cap: €4.3b

Xinyi Glass Holdings Valuation

Is XI9 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 XI9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: XI9 (€0.97) is trading below our estimate of fair value (€2.65)

Significantly Below Fair Value: XI9 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for XI9?

Key metric: As XI9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for XI9. This is calculated by dividing XI9's market cap by their current earnings.
What is XI9's PE Ratio?
PE Ratio6x
EarningsHK$5.95b
Market CapHK$35.47b

Price to Earnings Ratio vs Peers

How does XI9's PE Ratio compare to its peers?

The above table shows the PE ratio for XI9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.5x
VIB3 Villeroy & Boch
14.2x43.5%€401.8m
ST5 STEICO
9.7x-7.6%€268.1m
WUG Westag
24.1xn/a€117.0m
TSS InnoTec TSS
10xn/a€58.4m
XI9 Xinyi Glass Holdings
6x-0.4%€35.5b

Price-To-Earnings vs Peers: XI9 is good value based on its Price-To-Earnings Ratio (6x) compared to the peer average (14.5x).


Price to Earnings Ratio vs Industry

How does XI9's PE Ratio compare vs other companies in the European Building Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
XI9 6.0xIndustry Avg. 19.7xNo. of Companies14PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: XI9 is good value based on its Price-To-Earnings Ratio (6x) compared to the European Building industry average (19.9x).


Price to Earnings Ratio vs Fair Ratio

What is XI9'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.

XI9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6x
Fair PE Ratio15x

Price-To-Earnings vs Fair Ratio: XI9 is good value based on its Price-To-Earnings Ratio (6x) compared to the estimated Fair Price-To-Earnings Ratio (15x).


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 XI9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.97
€1.27
+31.2%
25.7%€2.19€0.78n/a11
Nov ’25€1.01
€1.27
+25.9%
25.7%€2.19€0.78n/a11
Oct ’25€1.03
€1.21
+17.5%
26.7%€2.14€0.76n/a11
Sep ’25€0.80
€1.26
+57.8%
24.0%€2.18€0.92n/a12
Aug ’25€0.94
€1.32
+40.4%
23.6%€2.21€0.92n/a11
Jul ’25€0.99
€1.36
+38.1%
23.9%€2.22€0.93n/a11
Jun ’25€1.10
€1.34
+22.1%
24.6%€2.21€0.93n/a11
May ’25€0.96
€1.30
+35.5%
27.8%€2.19€0.71n/a11
Apr ’25€0.93
€1.30
+40.1%
28.1%€2.20€0.71n/a11
Mar ’25€0.90
€1.33
+47.6%
31.3%€2.19€0.71n/a11
Feb ’25€0.71
€1.59
+123.4%
27.6%€2.19€0.61n/a12
Jan ’25€0.96
€1.67
+74.3%
18.9%€2.16€1.06n/a12
Dec ’24€0.97
€1.78
+82.7%
15.4%€2.25€1.39n/a12
Nov ’24€1.03
€1.78
+73.3%
15.4%€2.25€1.39€1.0112
Oct ’24€1.18
€1.83
+55.5%
19.3%€2.66€1.38€1.0313
Sep ’24€1.31
€1.91
+45.3%
24.3%€3.15€1.34€0.8014
Aug ’24€1.38
€1.94
+40.9%
26.8%€3.17€1.11€0.9413
Jul ’24€1.39
€2.05
+47.0%
24.6%€3.17€1.12€0.9913
Jun ’24€1.34
€2.15
+60.5%
22.7%€3.22€1.13€1.1014
May ’24€1.59
€2.11
+32.4%
23.4%€3.20€1.12€0.9614
Apr ’24€1.61
€2.11
+30.9%
23.4%€3.20€1.12€0.9314
Mar ’24€1.75
€2.17
+23.9%
22.4%€3.24€1.14€0.9016
Feb ’24€1.95
€2.20
+12.5%
23.1%€3.19€1.06€0.7116
Jan ’24€1.71
€2.25
+31.3%
22.6%€3.28€1.44€0.9616
Dec ’23€1.77
€2.31
+30.6%
21.9%€3.35€1.47€0.9716
Nov ’23€1.35
€2.45
+81.7%
21.5%€3.51€1.55€1.0316

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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