abrdn plc

DB:T3V2 Stock Report

Market Cap: €3.0b

abrdn Valuation

Is T3V2 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 T3V2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: T3V2 (€1.64) is trading below our estimate of fair value (€2.22)

Significantly Below Fair Value: T3V2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for T3V2?

Key metric: As T3V2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for T3V2. This is calculated by dividing T3V2's market cap by their current earnings.
What is T3V2's PE Ratio?
PE Ratio8x
EarningsUK£317.00m
Market CapUK£2.52b

Price to Earnings Ratio vs Peers

How does T3V2's PE Ratio compare to its peers?

The above table shows the PE ratio for T3V2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.6x
DWS DWS Group GmbH KGaA
13.1x12.7%€7.8b
MLP MLP
9.9x8.3%€640.5m
AR4 AURELIUS Equity Opportunities SE KGaA
3.9xn/a€390.6m
O4B OVB Holding
15.3x3.5%€282.2m
T3V2 abrdn
8x-20.9%€2.5b

Price-To-Earnings vs Peers: T3V2 is good value based on its Price-To-Earnings Ratio (8x) compared to the peer average (10.6x).

Price to Earnings Ratio vs Industry

How does T3V2's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR4 AURELIUS Equity Opportunities SE KGaA
3.9xn/aUS$409.25m
HXCK Ernst Russ
3.7x-18.2%US$202.59m
VG8 Varengold Bank
1.8xn/aUS$24.24m
XE8 Black Sea Property
0.7xn/aUS$7.74m
No more companies available in this PE range
T3V2 8.0xIndustry Avg. 20.1xNo. of Companies6PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: T3V2 is good value based on its Price-To-Earnings Ratio (8x) compared to the German Capital Markets industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is T3V2'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.

T3V2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8x
Fair PE Ratio10.1x

Price-To-Earnings vs Fair Ratio: T3V2 is good value based on its Price-To-Earnings Ratio (8x) compared to the estimated Fair Price-To-Earnings Ratio (10.1x).

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 T3V2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.64
€1.90
+16.0%
17.0%€2.87€1.56n/a14
Nov ’25€1.62
€1.91
+17.6%
17.0%€2.88€1.56n/a14
Oct ’25€1.94
€1.94
+0.2%
15.7%€2.86€1.69n/a14
Sep ’25€1.77
€1.91
+7.7%
15.7%€2.81€1.66n/a14
Aug ’25€2.00
€1.92
-4.1%
16.4%€2.86€1.67n/a14
Jul ’25€1.76
€1.87
+6.3%
17.4%€2.83€1.61n/a14
Jun ’25€1.80
€1.89
+4.7%
17.3%€2.82€1.61n/a14
May ’25€1.71
€1.87
+9.6%
17.8%€2.80€1.52n/a14
Apr ’25€1.65
€1.93
+17.0%
16.3%€2.74€1.57n/a14
Mar ’25€1.82
€1.98
+8.8%
15.3%€2.74€1.66n/a14
Feb ’25€1.96
€2.04
+4.2%
13.1%€2.76€1.64n/a14
Jan ’25€2.06
€1.98
-3.9%
16.0%€2.91€1.63n/a14
Dec ’24€1.87
€1.97
+5.2%
16.3%€2.90€1.62n/a14
Nov ’24€1.77
€1.97
+11.2%
15.6%€2.87€1.61€1.6214
Oct ’24€1.76
€2.12
+20.4%
17.1%€3.15€1.62€1.9415
Sep ’24€1.91
€2.15
+12.3%
16.6%€3.18€1.64€1.7716
Aug ’24€2.68
€2.34
-12.8%
13.7%€3.21€1.80€2.0015
Jul ’24€2.46
€2.29
-6.9%
13.2%€3.04€1.69€1.7615
Jun ’24€2.30
€2.30
-0.1%
13.5%€3.04€1.69€1.8015
May ’24€2.34
€2.23
-4.5%
13.5%€2.96€1.64€1.7115
Apr ’24€2.28
€2.29
+0.3%
18.2%€3.19€1.48€1.6515
Mar ’24€2.48
€2.18
-12.3%
22.1%€3.22€1.47€1.8214
Feb ’24€2.38
€2.16
-9.3%
21.4%€3.26€1.48€1.9614
Jan ’24€2.12
€2.26
+6.7%
25.9%€3.78€1.51€2.0614
Dec ’23€2.22
€2.22
+0.2%
27.3%€3.76€1.50€1.8714
Nov ’23€1.82
€2.07
+13.9%
28.8%€3.36€1.51€1.7714

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

ORIX

JP¥3.8t

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

OIX

JP¥20.40

7D

1.0%

1Y

22.2%

Mutares SE KGaA

€484.6m

A private equity firm specializing in investments in secondary direct, special situations, bridge financing, recapitalization, distressed/vulture, management succession, reorganization, carve-outs, turnarounds, spin-offs and re-funding.

MUX

€22.40

7D

1.1%

1Y

-29.3%

Merchants Bancorp

US$1.9b

Operates as the diversified bank holding company in the United States.

3KD

US$39.20

7D

5.9%

1Y

31.5%