TP ICAP Group PLC

DB:8D7 Stock Report

Market Cap: €2.4b

TP ICAP Group Valuation

Is 8D7 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 8D7 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8D7 (€3.12) is trading below our estimate of fair value (€3.56)

Significantly Below Fair Value: 8D7 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8D7?

Key metric: As 8D7 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 8D7. This is calculated by dividing 8D7's market cap by their current earnings.
What is 8D7's PE Ratio?
PE Ratio19.8x
EarningsUK£99.00m
Market CapUK£1.96b

Price to Earnings Ratio vs Peers

How does 8D7's PE Ratio compare to its peers?

The above table shows the PE ratio for 8D7 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average53.8x
FTK flatexDEGIRO
12.4x8.4%€1.5b
T2G Tradegate Wertpapierhandelsbank
86.6xn/a€2.2b
JDC JDC Group
56.9x24.8%€317.8m
BFV Berliner Effektengesellschaft
59.4xn/a€816.3m
8D7 TP ICAP Group
19.8x21.5%€2.0b

Price-To-Earnings vs Peers: 8D7 is good value based on its Price-To-Earnings Ratio (19.8x) compared to the peer average (53.8x).

Price to Earnings Ratio vs Industry

How does 8D7's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR4 AURELIUS Equity Opportunities SE KGaA
3.9xn/aUS$406.78m
HXCK Ernst Russ
3.8x-18.2%US$206.28m
VG8 Varengold Bank
1.8xn/aUS$24.05m
XE8 Black Sea Property
0.7xn/aUS$7.68m
No more companies available in this PE range
8D7 19.8xIndustry Avg. 20.3xNo. of Companies6PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 8D7 is good value based on its Price-To-Earnings Ratio (19.8x) compared to the German Capital Markets industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is 8D7'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.

8D7 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.8x
Fair PE Ratio17.6x

Price-To-Earnings vs Fair Ratio: 8D7 is expensive based on its Price-To-Earnings Ratio (19.8x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).

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 8D7 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.12
€3.47
+11.4%
9.9%€3.90€2.81n/a6
Nov ’25€2.62
€3.40
+29.9%
9.5%€3.87€2.79n/a6
Oct ’25€2.78
€3.40
+22.5%
9.5%€3.87€2.79n/a6
Sep ’25€2.80
€3.39
+21.2%
10.5%€3.87€2.70n/a6
Aug ’25€2.58
€3.31
+28.3%
9.6%€3.87€2.69n/a7
Jul ’25€2.32
€3.25
+40.1%
9.4%€3.83€2.64n/a8
Jun ’25€2.48
€3.23
+30.2%
9.3%€3.80€2.63n/a8
May ’25€2.36
€3.14
+33.2%
7.0%€3.40€2.65n/a8
Apr ’25€2.58
€3.02
+17.1%
7.8%€3.26€2.63n/a8
Mar ’25€2.06
€2.72
+31.9%
10.0%€3.03€2.34n/a7
Feb ’25€2.17
€2.73
+25.9%
10.7%€3.02€2.33n/a7
Jan ’25€2.21
€2.73
+23.5%
10.7%€3.02€2.33n/a7
Dec ’24€2.11
€2.67
+26.6%
10.4%€2.97€2.28n/a7
Nov ’24€1.80
€2.72
+51.1%
9.8%€2.99€2.30€2.626
Oct ’24€1.91
€2.77
+45.2%
9.8%€3.05€2.34€2.786
Sep ’24€1.90
€2.77
+46.1%
9.8%€3.05€2.34€2.806
Aug ’24€1.83
€2.76
+51.1%
9.8%€3.03€2.33€2.586
Jul ’24€1.73
€2.66
+53.6%
8.8%€2.94€2.26€2.326
Jun ’24€1.74
€2.66
+53.1%
8.8%€2.94€2.26€2.486
May ’24€1.87
€2.66
+42.1%
8.8%€2.94€2.26€2.366
Apr ’24€2.02
€2.66
+31.5%
8.8%€2.94€2.26€2.586
Mar ’24€2.14
€2.63
+22.8%
11.5%€2.98€2.09€2.066
Feb ’24€1.97
€2.63
+33.4%
11.5%€2.98€2.09€2.176
Jan ’24€1.96
€2.63
+34.1%
11.5%€2.98€2.09€2.216
Dec ’23€2.00
€2.63
+31.4%
11.5%€2.98€2.09€2.116
Nov ’23€2.10
€2.63
+25.1%
11.5%€2.98€2.09€1.806

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

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