Ashmore Group Plc

DB:A1B Stock Report

Market Cap: €1.4b

Ashmore Group Valuation

Is A1B 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 A1B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A1B (€2) is trading below our estimate of fair value (€2.41)

Significantly Below Fair Value: A1B 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 A1B?

Key metric: As A1B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for A1B. This is calculated by dividing A1B's market cap by their current earnings.
What is A1B's PE Ratio?
PE Ratio12.1x
EarningsUK£93.70m
Market CapUK£1.13b

Price to Earnings Ratio vs Peers

How does A1B's PE Ratio compare to its peers?

The above table shows the PE ratio for A1B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.4x
DBAN Deutsche Beteiligungs
24.4x54.1%€420.9m
MLP MLP
10x8.3%€642.7m
AR4 AURELIUS Equity Opportunities SE KGaA
3.9xn/a€390.6m
O4B OVB Holding
15.3x3.5%€283.6m
A1B Ashmore Group
12.1x-4.9%€1.1b

Price-To-Earnings vs Peers: A1B is good value based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (13.4x).

Price to Earnings Ratio vs Industry

How does A1B'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
A1B 12.1xIndustry Avg. 20.3xNo. of Companies6PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: A1B is good value based on its Price-To-Earnings Ratio (12.1x) compared to the German Capital Markets industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is A1B'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.

A1B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ratio11.4x

Price-To-Earnings vs Fair Ratio: A1B is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the estimated Fair Price-To-Earnings Ratio (11.4x).

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 A1B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.00
€2.23
+11.4%
21.2%€3.41€1.79n/a11
Nov ’25€2.48
€2.25
-9.3%
20.3%€3.41€1.79n/a11
Oct ’25€2.44
€2.20
-9.9%
21.3%€3.42€1.74n/a11
Sep ’25€2.05
€2.20
+7.2%
20.8%€3.38€1.78n/a11
Aug ’25€2.03
€2.20
+8.3%
20.8%€3.38€1.78n/a11
Jul ’25€2.03
€2.31
+14.2%
18.3%€3.36€1.77n/a11
Jun ’25€2.28
€2.27
-0.6%
18.8%€3.35€1.76n/a12
May ’25€2.22
€2.25
+1.7%
18.8%€3.33€1.75n/a12
Apr ’25€2.26
€2.40
+6.2%
16.8%€3.34€1.76n/a12
Mar ’25€2.40
€2.40
+0.06%
16.6%€3.34€1.76n/a12
Feb ’25€2.47
€2.38
-3.7%
17.2%€3.33€1.75n/a12
Jan ’25€2.55
€2.21
-13.4%
20.6%€3.31€1.74n/a12
Dec ’24€2.04
€2.19
+7.6%
20.7%€3.29€1.73n/a12
Nov ’24€1.95
€2.25
+15.6%
20.5%€3.27€1.72€2.4812
Oct ’24€2.14
€2.41
+12.7%
17.3%€3.31€1.86€2.4412
Sep ’24€2.25
€2.58
+15.0%
15.0%€3.31€2.03€2.0511
Aug ’24€2.39
€2.61
+9.4%
14.8%€3.33€2.04€2.0311
Jul ’24€2.37
€2.73
+15.3%
14.4%€3.24€2.16€2.0311
Jun ’24€2.59
€2.73
+5.3%
14.4%€3.24€2.16€2.2811
May ’24€2.68
€2.73
+1.7%
14.4%€3.24€2.16€2.2211
Apr ’24€2.70
€2.79
+3.3%
13.0%€3.34€2.26€2.2611
Mar ’24€3.04
€2.79
-8.3%
13.0%€3.34€2.26€2.4011
Feb ’24€3.00
€2.76
-8.1%
17.3%€3.25€1.88€2.4711
Jan ’24€2.70
€2.62
-3.1%
16.1%€3.32€1.92€2.5511
Dec ’23€2.60
€2.58
-0.9%
17.4%€3.31€1.91€2.0411
Nov ’23€2.38
€2.51
+5.7%
17.3%€3.29€1.90€1.9512

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

Discover undervalued companies

Yeahka

HK$4.2b

An investment holding company, provides payment and business services to merchants and consumers in the People’s Republic of China.

4YE

HK$1.19

7D

-4.8%

1Y

-30.0%

ORIX

JP¥3.8t

Provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East.

OIX

JP¥20.20

7D

0%

1Y

21.0%

Mutares SE KGaA

€484.6m

A private equity firm specializing in investments in secondary direct, special situations, bridge financing, recapitalization, distressed/vulture, management succession, reorganization, carve-outs, turnarounds, spin-offs and re-funding.

MUX

€22.40

7D

1.1%

1Y

-29.3%