Polar Capital Holdings Plc

DB:XZF Stock Report

Market Cap: €583.4m

Polar Capital Holdings Valuation

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

Discounted Cash Flow
Simply Wall St
€9.03
Fair Value
35.2% undervalued intrinsic discount
7
Number of Analysts

Below Fair Value: XZF (€5.85) is trading below our estimate of fair value (€9.03)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for XZF. This is calculated by dividing XZF's market cap by their current earnings.
What is XZF's PE Ratio?
PE Ratio11.8x
EarningsUK£41.81m
Market CapUK£492.59m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for XZF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.9x
DBAN Deutsche Beteiligungs
9.4x35.3%€445.9m
MLP MLP
11x7.8%€709.3m
O4B OVB Holding
15.3x3.5%€282.2m
MPCK MPC Münchmeyer Petersen Capital
11.9x6.1%€199.2m
XZF Polar Capital Holdings
11.8x9.8%€492.6m

Price-To-Earnings vs Peers: XZF is good value based on its Price-To-Earnings Ratio (11.8x) compared to the peer average (11.9x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HXCK Ernst Russ
3.8x-19.3%US$204.95m
SPT6 Sparta
2.6xn/aUS$173.47m
XE8 Black Sea Property
0.7xn/aUS$7.58m
No more companies available in this PE range
XZF 11.8xIndustry Avg. 19.0xNo. of Companies7PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: XZF is good value based on its Price-To-Earnings Ratio (11.8x) compared to the German Capital Markets industry average (19x).

Price to Earnings Ratio vs Fair Ratio

What is XZF'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.

XZF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.8x
Fair PE Ratio12.5x

Price-To-Earnings vs Fair Ratio: XZF is good value based on its Price-To-Earnings Ratio (11.8x) compared to the estimated Fair Price-To-Earnings Ratio (12.5x).

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 XZF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.85
€7.21
+23.3%
7.4%€7.88€6.51n/a7
Jan ’26€6.00
€7.34
+22.3%
7.8%€7.98€6.60n/a6
Dec ’25€6.45
€7.34
+13.7%
7.8%€7.98€6.60n/a6
Nov ’25€5.60
€7.29
+30.2%
7.9%€7.94€6.57n/a6
Oct ’25€6.35
€7.40
+16.6%
6.2%€7.90€6.77n/a6
Sep ’25€6.15
€7.15
+16.3%
9.0%€7.75€5.95n/a6
Aug ’25€7.05
€7.54
+6.9%
4.8%€7.90€6.83n/a6
Jul ’25€7.05
€7.12
+1.0%
8.0%€7.83€6.24n/a6
Jun ’25€6.40
€6.71
+4.8%
11.0%€7.77€5.84n/a6
May ’25€6.30
€6.76
+7.2%
10.5%€7.79€6.03n/a6
Apr ’25€5.20
€6.03
+16.0%
10.3%€7.01€5.07n/a6
Mar ’25€5.25
€6.03
+14.9%
10.3%€7.01€5.07n/a6
Feb ’25€5.25
€6.01
+14.4%
11.0%€7.04€5.09n/a6
Jan ’25€5.25
€5.86
+11.6%
13.0%€6.65€4.74€6.006
Dec ’24€5.10
€5.86
+14.9%
13.0%€6.65€4.74€6.456
Nov ’24€4.68
€5.95
+27.2%
13.5%€6.61€4.37€5.605
Oct ’24€5.35
€6.66
+24.5%
11.8%€7.30€5.14€6.355
Sep ’24€5.65
€6.66
+17.9%
11.8%€7.30€5.14€6.155
Aug ’24€5.60
€6.65
+18.8%
11.0%€7.27€5.23€7.055
Jul ’24€6.20
€6.67
+7.6%
9.4%€7.26€5.52€7.055
Jun ’24€5.85
€6.45
+10.3%
11.1%€7.09€5.10€6.405
May ’24€5.45
€6.45
+18.4%
11.1%€7.09€5.10€6.305
Apr ’24€5.10
€6.43
+26.0%
8.5%€6.88€5.41€5.205
Mar ’24€5.95
€6.43
+8.0%
8.5%€6.88€5.41€5.255
Feb ’24€5.80
€6.41
+10.6%
11.6%€6.97€4.97€5.255
Jan ’24€5.35
€6.63
+24.0%
9.1%€7.11€5.48€5.255
Analyst Price Target
Consensus Narrative from 7 Analysts
€6.97
Fair Value
16.1% 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 Analysis2025/01/19 08:10
End of Day Share Price 2025/01/17 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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 here.

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 .

Analyst Sources

Polar Capital Holdings Plc is covered by 13 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Catherine HeathAltium Capital Limited
null nullCanaccord Genuity
Keith BairdCantor Fitzgerald Europe