Man Group Plc

DB:M3N Stock Report

Market Cap: €2.9b

Man Group Valuation

Is M3N undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 M3N when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: M3N (€2.48) is trading below our estimate of fair value (€6.73)

Significantly Below Fair Value: M3N is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for M3N?

Key metric: As M3N is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for M3N. This is calculated by dividing M3N's market cap by their current earnings.
What is M3N's PE Ratio?
PE Ratio9.6x
EarningsUS$315.00m
Market CapUS$3.01b

Price to Earnings Ratio vs Peers

How does M3N's PE Ratio compare to its peers?

The above table shows the PE ratio for M3N vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.8x
DWS DWS Group GmbH KGaA
13.3x12.7%€7.9b
MLP MLP
10.1x7.8%€649.2m
AR4 AURELIUS Equity Opportunities SE KGaA
3.8xn/a€389.6m
DBAN Deutsche Beteiligungs
24x54.1%€413.9m
M3N Man Group
9.6x15.0%€2.4b

Price-To-Earnings vs Peers: M3N is good value based on its Price-To-Earnings Ratio (9.6x) compared to the peer average (12.8x).

Price to Earnings Ratio vs Industry

How does M3N's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR4 AURELIUS Equity Opportunities SE KGaA
3.8xn/aUS$408.35m
HXCK Ernst Russ
3.7x-18.2%US$206.94m
VG8 Varengold Bank
1.9xn/aUS$24.63m
XE8 Black Sea Property
0.7xn/aUS$7.73m
No more companies available in this PE range
M3N 9.6xIndustry Avg. 19.9xNo. of Companies7PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: M3N is good value based on its Price-To-Earnings Ratio (9.6x) compared to the German Capital Markets industry average (20.6x).

Price to Earnings Ratio vs Fair Ratio

What is M3N'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.

M3N PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.6x
Fair PE Ratio16.2x

Price-To-Earnings vs Fair Ratio: M3N is good value based on its Price-To-Earnings Ratio (9.6x) compared to the estimated Fair Price-To-Earnings Ratio (16.2x).

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 M3N forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.48
€3.27
+31.8%
13.8%€3.96€2.36n/a14
Nov ’25€2.34
€3.17
+35.6%
13.7%€3.84€2.29n/a14
Oct ’25€2.54
€3.41
+34.1%
10.6%€3.82€2.24n/a14
Sep ’25€2.64
€3.43
+30.0%
10.7%€3.87€2.27n/a14
Aug ’25€2.90
€3.52
+21.3%
10.6%€3.93€2.30n/a14
Jul ’25€2.88
€3.58
+24.3%
11.4%€4.02€2.26n/a14
Jun ’25€3.10
€3.55
+14.5%
11.2%€3.99€2.25n/a14
May ’25€2.98
€3.55
+19.2%
11.1%€4.04€2.27n/a14
Apr ’25€3.14
€3.46
+10.1%
11.1%€3.83€2.24n/a14
Mar ’25€2.80
€3.30
+17.9%
11.3%€3.73€2.24n/a14
Feb ’25€2.78
€3.27
+17.6%
11.5%€3.77€2.24n/a14
Jan ’25€2.66
€3.18
+19.6%
12.7%€3.90€2.23n/a14
Dec ’24€2.44
€3.16
+29.6%
12.0%€3.91€2.23n/a14
Nov ’24€2.52
€3.28
+30.0%
12.4%€4.03€2.29€2.3414
Oct ’24€2.54
€3.31
+30.5%
14.8%€4.45€2.29€2.5414
Sep ’24€2.48
€3.25
+31.0%
14.9%€4.36€2.25€2.6414
Aug ’24€2.60
€3.17
+22.0%
13.9%€4.29€2.20€2.9014
Jul ’24€2.50
€3.12
+24.8%
15.7%€4.46€2.22€2.8814
Jun ’24€2.54
€3.11
+22.3%
18.2%€4.52€2.03€3.1012
May ’24€2.54
€3.01
+18.3%
19.1%€4.42€1.99€2.9812
Apr ’24€2.76
€3.25
+17.6%
19.1%€4.42€2.06€3.1412
Mar ’24€3.02
€3.21
+6.2%
17.5%€4.40€2.06€2.8012
Feb ’24€2.82
€3.05
+8.1%
19.0%€4.34€2.01€2.7812
Jan ’24€2.46
€3.02
+22.9%
19.1%€4.45€2.06€2.6612
Dec ’23€2.46
€3.05
+24.2%
18.2%€4.18€2.08€2.4413
Nov ’23€2.54
€3.21
+26.5%
22.1%€4.46€1.53€2.5213

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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