Credit Saison Co., Ltd.

DB:QC9 Stock Report

Market Cap: €3.5b

Credit Saison Valuation

Is QC9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 QC9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: QC9 (€22.4) is trading below our estimate of fair value (€36.12)

Significantly Below Fair Value: QC9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for QC9?

Key metric: As QC9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for QC9. This is calculated by dividing QC9's market cap by their current earnings.
What is QC9's PE Ratio?
PE Ratio9.8x
EarningsJP¥57.42b
Market CapJP¥563.56b

Price to Earnings Ratio vs Peers

How does QC9's PE Ratio compare to its peers?

The above table shows the PE ratio for QC9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.1x
OT8 Eleving Group
9.3x29.7%€190.9m
E4I Multitude
9.4x19.8%€103.6m
DWS DWS Group GmbH KGaA
13.2x12.7%€7.9b
FTK flatexDEGIRO
12.6x8.5%€1.5b
QC9 Credit Saison
9.8x5.1%€563.6b

Price-To-Earnings vs Peers: QC9 is good value based on its Price-To-Earnings Ratio (9.8x) compared to the peer average (11.1x).

Price to Earnings Ratio vs Industry

How does QC9's PE Ratio compare vs other companies in the European Consumer Finance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
QC9 9.8xIndustry Avg. 9.1xNo. of Companies5PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: QC9 is expensive based on its Price-To-Earnings Ratio (9.8x) compared to the European Consumer Finance industry average (9.1x).

Price to Earnings Ratio vs Fair Ratio

What is QC9'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.

QC9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.8x
Fair PE Ratio14.8x

Price-To-Earnings vs Fair Ratio: QC9 is good value based on its Price-To-Earnings Ratio (9.8x) compared to the estimated Fair Price-To-Earnings Ratio (14.8x).

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 QC9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€22.40
€24.72
+10.3%
13.7%€28.82€17.54n/a7
Nov ’25€20.00
€23.90
+19.5%
14.2%€28.45€17.32n/a7
Oct ’25€22.80
€23.90
+4.8%
14.2%€28.45€17.32n/a7
Sep ’25€19.90
€23.12
+16.2%
15.2%€27.85€17.33n/a7
Aug ’25€20.80
€21.21
+2.0%
14.7%€25.95€16.15n/a7
Jul ’25€19.00
€21.21
+11.6%
14.7%€25.95€16.15n/a7
Jun ’25€20.00
€18.41
-8.0%
17.6%€23.44€14.65n/a6
May ’25€17.40
€18.01
+3.5%
16.3%€23.68€14.80n/a6
Apr ’25€19.20
€16.72
-12.9%
28.3%€24.44€7.33n/a7
Mar ’25€18.30
€16.63
-9.1%
27.2%€24.69€7.41n/a8
Feb ’25€17.20
€15.70
-8.7%
30.4%€25.43€7.63n/a8
Jan ’25€16.50
€15.70
-4.8%
30.4%€25.43€7.63n/a8
Dec ’24€15.70
€15.02
-4.3%
10.7%€17.61€11.61n/a8
Nov ’24€14.20
€14.66
+3.2%
20.1%€18.26€7.61€20.009
Oct ’24€14.90
€14.54
-2.4%
21.3%€18.30€7.63€22.808
Sep ’24€14.60
€12.99
-11.1%
23.5%€16.57€7.59€19.906
Aug ’24€14.40
€12.48
-13.3%
22.7%€16.64€7.62€20.807
Jul ’24€13.70
€12.48
-8.9%
22.7%€16.64€7.62€19.007
Jun ’24€12.70
€12.08
-4.9%
22.1%€17.48€8.01€20.007
May ’24€12.40
€12.51
+0.8%
14.5%€14.54€8.55€17.408
Apr ’24€11.80
€12.51
+6.0%
14.5%€14.54€8.55€19.208
Mar ’24€12.70
€12.51
-1.5%
14.5%€14.54€8.55€18.308
Feb ’24€11.60
€12.06
+4.0%
13.8%€14.17€8.50€17.209
Jan ’24€11.80
€11.77
-0.3%
13.8%€13.92€8.35€16.5010
Dec ’23€12.10
€11.77
-2.8%
13.8%€13.92€8.35€15.7010
Nov ’23€10.60
€11.42
+7.7%
13.3%€13.61€8.17€14.2010

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$1.18

7D

-5.6%

1Y

-25.8%

ORIX

JP¥3.8t

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

OIX

JP¥20.60

7D

2.0%

1Y

24.1%

Exor

€20.0b

Engages in the luxury goods, automotive, agricultural and construction equipment, commercial vehicles, and professional football businesses worldwide.

EYX

€93.90

7D

0.5%

1Y

6.4%