MSCI Inc.

XTRA:3HM Stock Report

Market Cap: €38.3b

MSCI Valuation

Is 3HM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 3HM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 3HM (€525) is trading below our estimate of future cash flow value (€603.68)

Significantly Below Future Cash Flow Value: 3HM is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3HM?

Key metric: As 3HM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3HM. This is calculated by dividing 3HM's market cap by their current earnings.
What is 3HM's PE Ratio?
PE Ratio33.5x
EarningsUS$1.32b
Market CapUS$44.23b

Price to Earnings Ratio vs Peers

How does 3HM's PE Ratio compare to its peers?

The above table shows the PE ratio for 3HM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.9x
DB1 Deutsche Börse
21.8x6.73%€44.7b
DBK Deutsche Bank
8.5x7.37%€51.4b
DWS DWS Group GmbH KGaA
11.8x5.32%€11.7b
300059 East Money InformationLtd
21.5x9.95%CN¥281.3b
3HM MSCI
33.5x9.78%€43.9b

Price-To-Earnings vs Peers: 3HM is expensive based on its Price-To-Earnings Ratio (33.5x) compared to the peer average (15.9x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 3HM's PE Ratio compare vs other companies in the DE Capital Markets Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BBHK Deutsche Balaton
3.1xn/aUS$344.72m
ECS0 Eight Capital Partners
0.9xn/aUS$23.99m
XE8 Black Sea Property
1.5xn/aUS$1.42m
No more companies available in this PE range
3HM 33.5xIndustry Avg. 14.9xNo. of Companies9PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3HM is expensive based on its Price-To-Earnings Ratio (33.5x) compared to the German Capital Markets industry average (14.9x).

Price to Earnings Ratio vs Fair Ratio

What is 3HM'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.

3HM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.5x
Fair PE Ratio22.3x

Price-To-Earnings vs Fair Ratio: 3HM is expensive based on its Price-To-Earnings Ratio (33.5x) compared to the estimated Fair Price-To-Earnings Ratio (22.3x).

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 3HM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€521.20
€597.40
+14.62%
6.66%€633.35€477.18n/a16
Jun ’27€546.80
€590.24
+7.94%
6.66%€625.76€471.46n/a16
May ’27€500.60
€587.08
+17.27%
6.81%€625.25€471.08n/a16
Apr ’27€464.50
€581.72
+25.23%
8.20%€620.78€461.92n/a16
Mar ’27€484.70
€573.78
+18.38%
6.90%€608.20€452.56n/a16
Feb ’27€509.00
€572.14
+12.40%
6.92%€606.26€451.11n/a15
Jan ’27€498.60
€559.01
+12.12%
6.81%€604.35€455.39n/a15
Dec ’26€482.40
€566.42
+17.42%
6.63%€611.59€460.85n/a16
Nov ’26€511.60
€566.37
+10.71%
6.88%€613.87€462.56n/a16
Oct ’26€477.30
€533.21
+11.71%
7.78%€596.54€443.14n/a16
Sep ’26€462.80
€534.31
+15.45%
7.94%€603.19€448.08n/a15
Aug ’26€482.10
€540.72
+12.16%
7.87%€613.06€455.42n/a15
Jul ’26€494.20
€521.74
+5.57%
8.07%€573.08€441.48n/a15
Jun ’26€494.60
€549.58
+11.12%
8.07%€603.65€465.04€546.8015
May ’26€477.50
€544.29
+13.99%
8.07%€597.85€460.56€500.6015
Apr ’26€525.80
€629.67
+19.76%
8.44%€690.83€506.42€464.5014
Mar ’26€560.20
€629.67
+12.40%
8.44%€690.83€506.42€484.7014
Feb ’26€566.20
€635.39
+12.22%
8.70%€697.48€511.29€509.0014
Jan ’26€584.00
€633.59
+8.49%
9.42%€697.62€492.10€498.6014
Dec ’25€577.80
€605.16
+4.74%
9.07%€661.50€481.95€482.4013
Nov ’25€531.60
€587.75
+10.56%
9.05%€644.56€469.61€511.6013
Oct ’25€517.00
€541.55
+4.75%
9.59%€632.38€451.70€477.3013
Sep ’25€520.20
€533.36
+2.53%
7.54%€589.68€453.60€462.8013
Aug ’25€509.60
€541.93
+6.34%
8.41%€599.76€456.74€482.1012
Jul ’25€449.40
€513.42
+14.24%
10.08%€595.13€426.42€494.2013
Jun ’25€453.20
€513.42
+13.29%
10.08%€595.13€426.42€494.6013
€590.71
Fair Value
11.8% undervalued intrinsic discount
16
Number of Analysts

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 Analysis2026/06/10 17:57
End of Day Share Price 2026/06/10 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

MSCI Inc. is covered by 28 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Manav PatnaikBarclays
Arnaud Maurice GiblatBNP Paribas
Gregory SimpsonBNP Paribas