McMillan Shakespeare Limited

DB:NMN Stock Report

Market Cap: €633.9m

McMillan Shakespeare Valuation

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

Below Fair Value: NMN (€8.8) is trading below our estimate of fair value (€19.78)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NMN. This is calculated by dividing NMN's market cap by their current earnings.
What is NMN's PE Ratio?
PE Ratio11.6x
EarningsAU$90.06m
Market CapAU$1.05b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NMN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.5x
AAD Amadeus FiRe
12x7.2%€418.3m
CWC CEWE Stiftung KGaA
11.2x2.2%€720.4m
BFSA Befesa
15.2x29.6%€840.0m
GBF Bilfinger
7.5x2.2%€1.7b
NMN McMillan Shakespeare
11.6x5.4%€1.0b

Price-To-Earnings vs Peers: NMN is expensive based on its Price-To-Earnings Ratio (11.6x) compared to the peer average (11.5x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NMN 11.6xIndustry Avg. 18.6xNo. of Companies11PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NMN is good value based on its Price-To-Earnings Ratio (11.6x) compared to the European Professional Services industry average (18.6x).

Price to Earnings Ratio vs Fair Ratio

What is NMN'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.

NMN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.6x
Fair PE Ratio9x

Price-To-Earnings vs Fair Ratio: NMN is expensive based on its Price-To-Earnings Ratio (11.6x) compared to the estimated Fair Price-To-Earnings Ratio (9x).

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 NMN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.80
€11.45
+30.1%
10.9%€12.54€8.78n/a8
Dec ’25€9.10
€12.09
+32.9%
6.6%€12.93€10.46n/a8
Nov ’25€8.55
€12.09
+41.4%
7.3%€13.34€10.40n/a8
Oct ’25€9.25
€12.19
+31.8%
6.2%€13.36€11.03n/a8
Sep ’25€9.55
€12.03
+26.0%
6.3%€13.30€10.98n/a9
Aug ’25€10.50
€13.06
+24.4%
6.9%€13.89€11.28n/a9
Jul ’25€10.40
€13.06
+25.6%
6.9%€13.89€11.28n/a9
Jun ’25€9.90
€13.06
+31.9%
6.9%€13.89€11.28n/a9
May ’25€11.00
€12.85
+16.8%
7.0%€13.65€11.08n/a9
Apr ’25€11.60
€13.01
+12.1%
5.9%€13.69€11.11n/a8
Mar ’25€12.90
€12.95
+0.4%
6.1%€13.72€11.14n/a7
Feb ’25€10.10
€11.96
+18.4%
3.4%€12.66€11.42n/a5
Jan ’25€9.60
€11.96
+24.6%
3.4%€12.66€11.42€8.705
Dec ’24€10.70
€12.17
+13.8%
11.4%€14.36€9.59€9.106
Nov ’24€9.95
€12.18
+22.5%
11.4%€14.35€9.59€8.556
Oct ’24€9.60
€12.13
+26.3%
13.2%€14.33€9.57€9.256
Sep ’24€10.50
€11.85
+12.8%
15.1%€14.21€9.49€9.556
Aug ’24€11.60
€10.66
-8.1%
13.2%€12.58€8.86€10.507
Jul ’24€10.80
€9.93
-8.0%
8.8%€11.59€8.89€10.407
Jun ’24€9.20
€9.61
+4.4%
6.1%€10.76€8.91€9.907
May ’24€9.00
€9.40
+4.5%
6.5%€10.57€8.76€11.006
Apr ’24€8.60
€9.78
+13.7%
7.1%€11.16€8.99€11.607
Mar ’24€9.15
€9.78
+6.9%
7.1%€11.16€8.99€12.907
Feb ’24€8.90
€9.85
+10.7%
8.5%€11.36€9.02€10.107
Jan ’24€8.35
€9.79
+17.2%
8.5%€11.29€8.97€9.607

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 14:22
End of Day Share Price 2025/01/02 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

McMillan Shakespeare Limited is covered by 17 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Hayden NicholsonBell Potter
Duncan SimmondsBofA Global Research
Paul BuysCanaccord Genuity