PUMA Valuation

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

PUMA (€4.54) is trading below our estimate of [[fair value]] (€6.05)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: PUMA (€4.54) is trading below our estimate of fair value (€6.05)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PUMA. This is calculated by dividing PUMA's market cap by their current earnings.
What is PUMA's PE Ratio?
PE Ratio	27.1x
Earnings	€258.00m
Market Cap	€6.99b

PUMA 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	1x
Enterprise Value/EBITDA	11.9x
PEG Ratio	1.5x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PUMA 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	50.8x
BOSS Hugo Boss	13x	13.2%	€2.8b
ADS adidas	100.8x	38.1%	€38.4b
SKX Skechers U.S.A	14.6x	12.3%	US$9.2b
BIRK Birkenstock Holding	74.8x	49.3%	US$8.6b
PUMA PUMA	27.1x	18.6%	€7.0b

Price-To-Earnings vs Peers: PUMA is good value based on its Price-To-Earnings Ratio (27.1x) compared to the peer average (50.8x).

Price to Earnings Ratio vs Industry

How does PUMA's PE Ratio compare vs other companies in the European Luxury Industry?

4 Companies	Price / Earnings	Estimated Growth	Market Cap

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: PUMA is expensive based on its Price-To-Earnings Ratio (27.1x) compared to the European Luxury industry average (14.2x).

Price to Earnings Ratio vs Fair Ratio

What is PUMA'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.

PUMA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	27.1x
Fair PE Ratio	23.2x

Price-To-Earnings vs Fair Ratio: PUMA is expensive based on its Price-To-Earnings Ratio (27.1x) compared to the estimated Fair Price-To-Earnings Ratio (23.2x).

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.