Cleanaway Waste Management Limited

DB:TG9 Stock Report

Market Cap: €3.5b

Cleanaway Waste Management Valuation

Is TG9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 TG9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TG9 (€1.54) is trading below our estimate of fair value (€1.99)

Significantly Below Fair Value: TG9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TG9?

Key metric: As TG9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TG9. This is calculated by dividing TG9's market cap by their current earnings.
What is TG9's PE Ratio?
PE Ratio37.6x
EarningsAU$156.60m
Market CapAU$5.89b

Price to Earnings Ratio vs Peers

How does TG9's PE Ratio compare to its peers?

The above table shows the PE ratio for TG9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.5x
BFSA Befesa
15.2x29.6%€844.0m
GBF Bilfinger
7.5x2.2%€1.7b
CWC CEWE Stiftung KGaA
11.2x2.2%€720.4m
PARKIN Parkin Company P.J.S.C
36.2x8.9%د.إ14.8b
TG9 Cleanaway Waste Management
37.6x16.0%€5.9b

Price-To-Earnings vs Peers: TG9 is expensive based on its Price-To-Earnings Ratio (37.6x) compared to the peer average (17.5x).

Price to Earnings Ratio vs Industry

How does TG9's PE Ratio compare vs other companies in the European Commercial Services Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
TG9 37.6xIndustry Avg. 14.3xNo. of Companies13PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TG9 is expensive based on its Price-To-Earnings Ratio (37.6x) compared to the European Commercial Services industry average (14.3x).

Price to Earnings Ratio vs Fair Ratio

What is TG9'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.

TG9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio37.6x
Fair PE Ratio14.6x

Price-To-Earnings vs Fair Ratio: TG9 is expensive based on its Price-To-Earnings Ratio (37.6x) compared to the estimated Fair Price-To-Earnings Ratio (14.6x).

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 TG9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.54
€1.85
+19.9%
10.2%€2.03€1.38n/a14
Dec ’25€1.72
€1.91
+11.0%
10.2%€2.10€1.42n/a14
Nov ’25€1.68
€1.89
+12.3%
10.6%€2.08€1.41n/a13
Oct ’25€1.75
€1.89
+8.0%
10.2%€2.08€1.41n/a14
Sep ’25€1.66
€1.86
+11.9%
11.1%€2.08€1.41n/a15
Aug ’25€1.60
€1.75
+9.4%
10.4%€1.93€1.39n/a15
Jul ’25€1.67
€1.79
+7.3%
10.4%€1.99€1.43n/a15
Jun ’25€1.66
€1.76
+5.7%
10.3%€1.96€1.41n/a15
May ’25€1.55
€1.69
+9.2%
10.7%€1.93€1.33n/a15
Apr ’25€1.60
€1.69
+5.6%
10.7%€1.93€1.33n/a15
Mar ’25€1.53
€1.69
+10.1%
10.7%€1.94€1.33n/a14
Feb ’25€1.55
€1.67
+7.4%
10.9%€1.94€1.34n/a13
Jan ’25€1.62
€1.68
+3.9%
10.7%€1.97€1.35€1.6613
Dec ’24€1.46
€1.63
+11.5%
11.0%€1.92€1.32€1.7214
Nov ’24€1.35
€1.63
+20.6%
11.0%€1.92€1.32€1.6814
Oct ’24€1.46
€1.66
+13.6%
10.6%€1.93€1.33€1.7514
Sep ’24€1.55
€1.62
+4.8%
10.6%€1.90€1.31€1.6615
Aug ’24€1.64
€1.67
+1.8%
11.8%€1.93€1.32€1.6015
Jul ’24€1.55
€1.71
+10.6%
11.5%€1.97€1.36€1.6715
Jun ’24€1.57
€1.71
+9.2%
11.2%€1.96€1.35€1.6615
May ’24€1.42
€1.72
+21.5%
10.7%€1.95€1.34€1.5514
Apr ’24€1.43
€1.74
+21.9%
10.8%€1.98€1.36€1.6014
Mar ’24€1.63
€1.83
+12.0%
9.0%€2.06€1.41€1.5316
Feb ’24€1.75
€1.87
+6.8%
9.3%€2.18€1.49€1.5516
Jan ’24€1.64
€1.86
+13.6%
8.9%€2.20€1.50€1.6215

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/06 00:36
End of Day Share Price 2025/01/06 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

Cleanaway Waste Management Limited is covered by 23 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew RyanBarrenjoey Markets Pty Limited
Sam BrandwoodBell Potter
Reinhardt WaltBofA Global Research