Man Group Plc

DB:M3N Stock Report

Market Cap: €3.9b

Man Group Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 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.

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: M3N (€3.57) is trading below our estimate of future cash flow value (€8.02)

Significantly Below Future Cash Flow Value: M3N is trading below future cash flow 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 Ratio25.8x
EarningsUS$175.00m
Market CapUS$4.51b

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 Average16.9x
DWS DWS Group GmbH KGaA
14x6.10%€13.9b
MLP MLP
14.2x17.43%€824.6m
ERAG Ernst Russ
4.4x-29.61%€260.8m
O4B OVB Holding
35.1x21.94%€267.9m
M3N Man Group
25.8x28.04%€3.4b

Price-To-Earnings vs Peers: M3N is expensive based on its Price-To-Earnings Ratio (25.8x) compared to the peer average (16.9x).

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BBHK Deutsche Balaton
2.4xn/aUS$357.90m
LUS1 Lang & Schwarz
3.3xn/aUS$181.92m
XE8 Black Sea Property
3.8xn/aUS$1.41m
No more companies available in this PE range
M3N 25.8xIndustry Avg. 14.6xNo. of Companies11PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: M3N is expensive based on its Price-To-Earnings Ratio (25.8x) compared to the German Capital Markets industry average (14.6x).

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 Ratio25.8x
Fair PE Ratio26.4x

Price-To-Earnings vs Fair Ratio: M3N is good value based on its Price-To-Earnings Ratio (25.8x) compared to the estimated Fair Price-To-Earnings Ratio (26.4x).

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 M3N forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.57
€3.93
+9.98%
4.32%€4.16€3.61n/a11
Jul ’27€3.37
€3.72
+10.44%
9.10%€4.13€3.18n/a11
Jun ’27€3.28
€3.53
+7.65%
8.70%€4.01€3.11n/a11
May ’27€2.94
€3.47
+17.87%
8.54%€3.99€3.10n/a11
Apr ’27€2.94
€3.55
+20.61%
6.57%€4.09€3.23n/a11
Mar ’27€3.02
€3.36
+11.29%
9.96%€4.00€2.64n/a11
Feb ’27€3.00
€3.15
+5.04%
7.52%€3.61€2.63n/a12
Jan ’27€2.58
€2.75
+6.71%
13.32%€3.65€2.17n/a12
Dec ’26€2.32
€2.77
+19.38%
13.95%€3.69€2.20n/a13
Nov ’26€2.40
€2.71
+12.90%
15.42%€3.68€2.16n/a13
Oct ’26€2.04
€2.46
+20.57%
21.42%€3.62€1.80n/a13
Sep ’26€1.85
€2.44
+32.01%
22.27%€3.63€1.81n/a13
Aug ’26€1.91
€2.48
+29.98%
21.32%€3.67€1.83n/a13
Jul ’26€2.00
€2.43
+21.50%
21.94%€3.60€1.71€3.3714
Jun ’26€2.08
€2.54
+21.98%
21.59%€3.75€1.78€3.2814
May ’26€1.94
€2.56
+31.71%
20.24%€3.76€1.79€2.9414
Apr ’26€2.38
€3.04
+27.75%
10.86%€3.74€2.53€2.9414
Mar ’26€2.58
€3.16
+22.47%
11.32%€3.89€2.58€3.0214
Feb ’26€2.56
€3.12
+22.05%
10.40%€3.79€2.57€3.0014
Jan ’26€2.54
€3.34
+31.33%
11.12%€3.98€2.74€2.5814
Dec ’25€2.50
€3.23
+29.29%
13.82%€3.93€2.35€2.3214
Nov ’25€2.34
€3.18
+35.77%
13.73%€3.84€2.29€2.4014
Oct ’25€2.54
€3.41
+34.08%
10.58%€3.82€2.24€2.0414
Sep ’25€2.64
€3.43
+30.01%
10.73%€3.87€2.27€1.8514
Aug ’25€2.90
€3.52
+21.27%
10.64%€3.93€2.30€1.9114
Jul ’25€2.88
€3.58
+24.31%
11.38%€4.02€2.26€2.0014
€3.94
Fair Value
9.5% undervalued intrinsic discount
11
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 Analysis2026/07/19 21:16
End of Day Share Price 2026/07/17 00:00
Earnings2025/12/31
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

Man Group Plc is covered by 22 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael SandersonBarclays
Daniel GarrodBarclays
Christopher TurnerBerenberg