Matthews International Valuation

Q: What is the Fair Price of MW1A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

MW1A (€23.18) is trading above our estimate of [[fair value]] (€10.88)

Is MW1A undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

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 MW1A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MW1A (€23.18) is trading above our estimate of fair value (€10.88)

Significantly Below Fair Value: MW1A is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MW1A?

Key metric: As MW1A is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MW1A. This is calculated by dividing MW1A's market cap by their current earnings.
What is MW1A's PE Ratio?
PE Ratio	29.7x
Earnings	US$26.22m
Market Cap	US$737.10m

MW1A 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	0.9x
Enterprise Value/EBITDA	9.2x
PEG Ratio	1.2x

Price to Earnings Ratio vs Peers

How does MW1A's PE Ratio compare to its peers?

The above table shows the PE ratio for MW1A 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	10.7x
CWC CEWE Stiftung KGaA	10.9x	2.3%	€687.7m
GBF Bilfinger	7.3x	2.3%	€1.7b
BFSA Befesa	12.9x	30.2%	€712.0m
AAD Amadeus FiRe	11.9x	7.2%	€412.8m
MW1A Matthews International	29.7x	24.9%	€737.1m

Price-To-Earnings vs Peers: MW1A is expensive based on its Price-To-Earnings Ratio (29.7x) compared to the peer average (10.7x).

Price to Earnings Ratio vs Industry

How does MW1A's PE Ratio compare vs other companies in the European Commercial Services Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MW1A is expensive based on its Price-To-Earnings Ratio (29.7x) compared to the European Commercial Services industry average (14.6x).

Price to Earnings Ratio vs Fair Ratio

What is MW1A'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.

MW1A PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	29.7x
Fair PE Ratio	12.5x

Price-To-Earnings vs Fair Ratio: MW1A is expensive based on its Price-To-Earnings Ratio (29.7x) compared to the estimated Fair Price-To-Earnings Ratio (12.5x).

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 MW1A forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€23.18	€34.14 +47.3%	5.3%	€35.94	€32.35	n/a	2
Nov ’25	€21.02	€34.14 +62.4%	5.3%	€35.94	€32.35	n/a	2
Oct ’25	€20.44	€34.14 +67.0%	5.3%	€35.94	€32.35	n/a	2
Sep ’25	€22.56	€41.07 +82.0%	20.0%	€49.28	€32.85	n/a	2
Aug ’25	€26.38	€44.57 +69.0%	12.5%	€50.14	€39.00	n/a	2
Jul ’25	€22.50	€44.57 +98.1%	12.5%	€50.14	€39.00	n/a	2
Jun ’25	€25.70	€44.57 +73.4%	12.5%	€50.14	€39.00	n/a	2
May ’25	€25.34	€45.06 +77.8%	12.5%	€50.69	€39.43	n/a	2
Apr ’25	€28.40	€47.01 +65.5%	16.8%	€54.92	€39.10	n/a	2
Mar ’25	€26.60	€47.01 +76.7%	16.8%	€54.92	€39.10	n/a	2
Feb ’25	€30.20	€48.75 +61.4%	15.1%	€56.11	€41.40	n/a	2
Jan ’25	€33.80	€49.80 +47.3%	17.4%	€58.48	€41.12	n/a	2
Dec ’24	€31.00	€49.80 +60.7%	17.4%	€58.48	€41.12	n/a	2
Nov ’24	€33.00	€51.84 +57.1%	12.3%	€58.20	€45.47	€21.02	2
Oct ’24	€37.20	€51.84 +39.3%	12.3%	€58.20	€45.47	€20.44	2
Sep ’24	€39.20	€51.84 +32.2%	12.3%	€58.20	€45.47	€22.56	2
Aug ’24	€41.20	€51.84 +25.8%	12.3%	€58.20	€45.47	€26.38	2
Jul ’24	€38.60	€44.66 +15.7%	2.0%	€45.58	€43.75	€22.50	2
Jun ’24	€35.60	€44.66 +25.5%	2.0%	€45.58	€43.75	€25.70	2
May ’24	€34.00	€44.66 +31.4%	2.0%	€45.58	€43.75	€25.34	2
Apr ’24	€32.40	€44.05 +36.0%	3.2%	€45.48	€42.63	€28.40	2
Mar ’24	€35.40	€44.05 +24.4%	3.2%	€45.48	€42.63	€26.60	2
Feb ’24	€33.60	€44.05 +31.1%	3.2%	€45.48	€42.63	€30.20	2
Jan ’24	€28.60	€43.74 +52.9%	3.2%	€45.15	€42.33	€33.80	2
Dec ’23	€29.80	€45.39 +52.3%	3.2%	€46.86	€43.93	€31.00	2
Nov ’23	€27.00	€44.54 +65.0%	1.1%	€45.03	€44.06	€33.00	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.