Platinum Investment Management Limited

DB:PIJ Stock Report

Market Cap: €233.2m

Platinum Investment Management Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Discounted Cash Flow
Simply Wall St
€0.66
Fair Value
37.9% undervalued intrinsic discount
7
Number of Analysts

Below Fair Value: PIJ (€0.41) is trading below our estimate of fair value (€0.66)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PIJ. This is calculated by dividing PIJ's market cap by their current earnings.
What is PIJ's PE Ratio?
PE Ratio8.5x
EarningsAU$45.01m
Market CapAU$383.91m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PIJ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.3x
MPCK MPC Münchmeyer Petersen Capital
10.9x6.1%€183.3m
BBHK Deutsche Balaton
5.9xn/a€175.4m
O4B OVB Holding
15.1x3.5%€279.3m
DBAN Deutsche Beteiligungs
9.4x35.3%€444.9m
PIJ Platinum Investment Management
8.5x-9.2%€383.9m

Price-To-Earnings vs Peers: PIJ is good value based on its Price-To-Earnings Ratio (8.5x) compared to the peer average (10.3x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HXCK Ernst Russ
3.9x-19.3%US$208.16m
SPT6 Sparta
3.1xn/aUS$202.58m
XE8 Black Sea Property
0.7xn/aUS$7.65m
No more companies available in this PE range
PIJ 8.5xIndustry Avg. 18.9xNo. of Companies8PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PIJ is good value based on its Price-To-Earnings Ratio (8.5x) compared to the German Capital Markets industry average (18.9x).

Price to Earnings Ratio vs Fair Ratio

What is PIJ'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.

PIJ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.5x
Fair PE Ratio9.6x

Price-To-Earnings vs Fair Ratio: PIJ is good value based on its Price-To-Earnings Ratio (8.5x) compared to the estimated Fair Price-To-Earnings Ratio (9.6x).

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 PIJ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.41
€0.43
+5.8%
8.4%€0.49€0.38n/a7
Feb ’26€0.40
€0.42
+6.1%
10.1%€0.48€0.36n/a8
Jan ’26€0.40
€0.48
+19.6%
10.9%€0.56€0.39n/a8
Dec ’25€0.64
€0.64
-0.7%
10.1%€0.75€0.56n/a7
Nov ’25€0.73
€0.63
-14.2%
9.9%€0.75€0.56n/a7
Oct ’25€0.73
€0.65
-12.2%
13.9%€0.83€0.55n/a8
Sep ’25€0.60
€0.62
+4.0%
13.3%€0.83€0.55n/a9
Aug ’25€0.64
€0.62
-3.0%
13.2%€0.82€0.51n/a10
Jul ’25€0.65
€0.66
+2.6%
11.7%€0.83€0.55n/a10
Jun ’25€0.61
€0.66
+8.5%
11.7%€0.83€0.55n/a10
May ’25€0.64
€0.66
+3.8%
10.9%€0.82€0.59n/a10
Apr ’25€0.64
€0.65
+2.7%
12.9%€0.82€0.48n/a12
Mar ’25€0.71
€0.68
-5.2%
25.0%€1.14€0.48n/a11
Feb ’25€0.69
€0.70
+1.6%
23.4%€1.15€0.51€0.4011
Jan ’25€0.81
€0.71
-13.0%
22.1%€1.14€0.50€0.4011
Dec ’24€0.72
€0.71
-2.2%
22.1%€1.14€0.50€0.6411
Nov ’24€0.66
€0.72
+10.0%
22.1%€1.14€0.50€0.7310
Oct ’24€0.77
€0.84
+9.2%
15.9%€1.14€0.60€0.7310
Sep ’24€0.82
€0.86
+4.8%
14.2%€1.13€0.59€0.6010
Aug ’24€0.94
€0.96
+1.3%
16.0%€1.28€0.64€0.6410
Jul ’24€1.03
€1.03
-0.3%
14.5%€1.31€0.72€0.6510
Jun ’24€1.02
€1.02
+0.03%
14.3%€1.29€0.71€0.6110
May ’24€1.03
€1.01
-1.8%
16.0%€1.36€0.69€0.6410
Apr ’24€1.04
€1.08
+4.1%
16.5%€1.39€0.71€0.6411
Mar ’24€1.20
€1.12
-6.9%
16.5%€1.43€0.73€0.7111
Feb ’24€1.34
€1.13
-16.0%
14.4%€1.44€0.83€0.6911
Analyst Price Target
Consensus Narrative from 7 Analysts
€0.42
Fair Value
3.3% undervalued intrinsic discount
7
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 Analysis2025/02/11 18:08
End of Day Share Price 2025/02/11 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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

Platinum Investment Management Limited is covered by 17 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Marcus BarnardBell Potter
Lara TufegdzicBofA Global Research
Anthony HooCLSA