BGC Group Valuation

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

Below Fair Value: ESD (€9.2) is trading above our estimate of fair value (€2.52)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ESD. This is calculated by dividing ESD's market cap by their current earnings.
What is ESD's PE Ratio?
PE Ratio	40.7x
Earnings	US$115.69m
Market Cap	US$4.71b

ESD 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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ESD 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	53.5x
FTK flatexDEGIRO	12.5x	8.5%	€1.5b
T2G Tradegate Wertpapierhandelsbank	86.6x	n/a	€2.2b
BFV Berliner Effektengesellschaft	59x	n/a	€816.3m
JDC JDC Group	56.1x	24.8%	€313.7m
ESD BGC Group	40.7x	n/a	€4.7b

Price-To-Earnings vs Peers: ESD is good value based on its Price-To-Earnings Ratio (40.7x) compared to the peer average (53.5x).

Price to Earnings Ratio vs Industry

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

4 Companies	Price / Earnings	Estimated Growth	Market Cap
AR4 AURELIUS Equity Opportunities SE KGaA	3.9x	n/a	US$411.59m
HXCK Ernst Russ	3.7x	-18.2%	US$208.06m
VG8 Varengold Bank	1.9x	n/a	US$25.70m
XE8 Black Sea Property	0.7x	n/a	US$7.79m

No more companies available in this PE range

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ESD is expensive based on its Price-To-Earnings Ratio (40.7x) compared to the German Capital Markets industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is ESD'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.

ESD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	40.7x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ESD's Price-To-Earnings Fair Ratio for valuation analysis.

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.

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