Whitbread plc

DB:WHF4 Stock Report

Market Cap: €6.2b

Whitbread Valuation

Is WHF4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 WHF4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: WHF4 (€35.54) is trading above our estimate of fair value (€26.85)

Significantly Below Fair Value: WHF4 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WHF4?

Key metric: As WHF4 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for WHF4. This is calculated by dividing WHF4's market cap by their current earnings.
What is WHF4's PE Ratio?
PE Ratio21.4x
EarningsUK£238.80m
Market CapUK£5.10b

Price to Earnings Ratio vs Peers

How does WHF4's PE Ratio compare to its peers?

The above table shows the PE ratio for WHF4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.7x
TUI1 TUI
8.4x16.1%€4.2b
IFA LS Invest
6.3xn/a€281.3m
TIMA ZEAL Network
22.8x-12.6%€1.1b
780 Tongcheng Travel Holdings
21.5x17.0%HK$44.1b
WHF4 Whitbread
21.4x14.2%€5.1b

Price-To-Earnings vs Peers: WHF4 is expensive based on its Price-To-Earnings Ratio (21.4x) compared to the peer average (14.7x).

Price to Earnings Ratio vs Industry

How does WHF4's PE Ratio compare vs other companies in the European Hospitality Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
WHF4 21.4xIndustry Avg. 17.5xNo. of Companies16PE01224364860+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WHF4 is expensive based on its Price-To-Earnings Ratio (21.4x) compared to the European Hospitality industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is WHF4'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.

WHF4 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.4x
Fair PE Ratio29.8x

Price-To-Earnings vs Fair Ratio: WHF4 is good value based on its Price-To-Earnings Ratio (21.4x) compared to the estimated Fair Price-To-Earnings Ratio (29.8x).

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 WHF4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€35.54
€46.06
+29.6%
15.9%€59.08€33.16n/a17
Dec ’25€34.04
€46.61
+36.9%
15.0%€59.02€33.12n/a17
Nov ’25€35.68
€47.46
+33.0%
13.0%€58.72€32.96n/a17
Oct ’25€37.58
€47.73
+27.0%
13.3%€58.82€33.01n/a17
Sep ’25€34.86
€47.41
+36.0%
13.8%€58.25€31.50n/a17
Aug ’25€34.48
€46.95
+36.2%
14.1%€57.82€31.27n/a17
Jul ’25€35.34
€46.95
+32.9%
14.1%€57.82€31.27n/a17
Jun ’25€34.14
€47.68
+39.7%
13.9%€56.43€31.15n/a18
May ’25€35.64
€48.05
+34.8%
13.7%€56.09€30.97n/a18
Apr ’25€38.26
€48.58
+27.0%
12.4%€57.24€35.04n/a18
Mar ’25€38.53
€47.06
+22.1%
17.7%€57.02€19.78n/a20
Feb ’25€42.11
€47.06
+11.8%
17.7%€57.02€19.78n/a20
Jan ’25€41.69
€46.65
+11.9%
17.6%€55.78€19.76n/a21
Dec ’24€35.76
€47.14
+31.8%
17.8%€56.09€19.87€34.0421
Nov ’24€38.39
€46.42
+20.9%
17.4%€55.18€19.54€35.6821
Oct ’24€40.19
€45.38
+12.9%
18.2%€56.55€19.62€37.5822
Sep ’24€40.11
€44.62
+11.2%
17.4%€54.88€19.85€34.8621
Aug ’24€40.74
€45.85
+12.5%
11.9%€55.01€31.01€34.4820
Jul ’24€38.97
€45.29
+16.2%
11.9%€54.55€30.76€35.3420
Jun ’24€38.18
€44.05
+15.4%
10.4%€50.04€30.84€34.1419
May ’24€36.09
€41.75
+15.7%
10.7%€48.57€29.93€35.6419
Apr ’24€33.60
€40.08
+19.3%
12.0%€47.28€29.83€38.2619
Mar ’24€35.10
€39.98
+13.9%
12.0%€47.30€29.84€38.5319
Feb ’24€34.50
€40.37
+17.0%
11.7%€47.89€30.22€42.1119
Jan ’24€29.50
€39.34
+33.3%
13.2%€47.76€29.30€41.6919
Dec ’23€30.00
€39.24
+30.8%
12.8%€46.73€29.02€35.7619

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/29 02:21
End of Day Share Price 2024/12/27 00:00
Earnings2024/08/29
Annual Earnings2024/02/29

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

Whitbread plc is covered by 48 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Alejandro AcostaAlezor Research
Pierre-Yves GauthierAlphaValue
Bérénice LacroixAlphaValue