Imperial Oil Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Discounted Cash Flow
Simply Wall St
€119.87
Fair Value
46.6% undervalued intrinsic discount
18
Number of Analysts

Below Fair Value: IMP (€63.96) is trading below our estimate of fair value (€119.87)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for IMP. This is calculated by dividing IMP's market cap by their current earnings.
What is IMP's PE Ratio?
PE Ratio9.9x
EarningsCA$4.93b
Market CapCA$49.33b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for IMP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.6x
ONGC Oil and Natural Gas
8.1x9.8%₹3.3t
PTT PTT
7.9x-2.3%฿899.7b
SIBN Gazprom Neft
3.7xn/a₽1.8t
CVE Cenovus Energy
10.9x4.8%CA$40.2b
IMP Imperial Oil
9.9x-8.1%€49.3b

Price-To-Earnings vs Peers: IMP is expensive based on its Price-To-Earnings Ratio (9.9x) compared to the peer average (9x).


Price to Earnings Ratio vs Industry

How does IMP's PE Ratio compare vs other companies in the European Oil and Gas Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IMP 9.9xIndustry Avg. 8.4xNo. of Companies17PE0612182430+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IMP is expensive based on its Price-To-Earnings Ratio (9.9x) compared to the European Oil and Gas industry average (8.5x).


Price to Earnings Ratio vs Fair Ratio

What is IMP'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.

IMP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.9x
Fair PE Ratio19.3x

Price-To-Earnings vs Fair Ratio: IMP is good value based on its Price-To-Earnings Ratio (9.9x) compared to the estimated Fair Price-To-Earnings Ratio (19.3x).


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 IMP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€63.96
€69.00
+7.9%
8.7%€80.95€60.04n/a18
Jan ’26€59.30
€68.85
+16.1%
8.4%€80.42€59.65n/a19
Dec ’25€69.90
€70.41
+0.7%
9.0%€81.43€61.07n/a19
Nov ’25€70.14
€67.98
-3.1%
9.1%€79.34€59.51n/a19
Oct ’25€66.18
€67.28
+1.7%
7.6%€77.00€60.26n/a19
Sep ’25€68.52
€67.28
-1.8%
8.1%€76.24€59.67n/a19
Aug ’25€65.90
€66.90
+1.5%
8.8%€76.58€57.93n/a19
Jul ’25€63.32
€66.99
+5.8%
9.9%€81.02€58.74n/a18
Jun ’25€63.64
€67.22
+5.6%
9.8%€80.98€58.71n/a18
May ’25€66.02
€67.30
+1.9%
10.7%€81.65€55.12n/a18
Apr ’25€63.32
€61.89
-2.3%
8.3%€78.71€55.44n/a17
Mar ’25€57.44
€58.53
+1.9%
5.7%€64.76€52.49n/a19
Feb ’25€53.22
€58.74
+10.4%
6.1%€66.77€53.00n/a19
Jan ’25€50.84
€59.91
+17.8%
8.5%€75.28€54.75€59.3019
Dec ’24€51.64
€59.04
+14.3%
8.3%€73.75€53.63€69.9019
Nov ’24€53.80
€59.62
+10.8%
9.1%€74.95€53.15€70.1418
Oct ’24€58.52
€57.47
-1.8%
8.3%€68.77€50.53€66.1818
Sep ’24€52.38
€53.91
+2.9%
6.3%€65.52€49.14€68.5218
Aug ’24€48.69
€53.68
+10.3%
7.3%€66.21€48.97€65.9018
Jul ’24€46.66
€54.26
+16.3%
8.5%€66.68€47.23€63.3217
Jun ’24€42.20
€53.72
+27.3%
8.3%€65.82€46.62€63.6417
May ’24€46.35
€54.05
+16.6%
6.9%€65.27€48.45€66.0218
Apr ’24€45.80
€53.33
+16.4%
8.6%€65.80€45.45€63.3218
Mar ’24€46.56
€53.99
+16.0%
10.0%€67.19€42.25€57.4418
Feb ’24€50.15
€53.22
+6.1%
10.1%€66.45€41.79€53.2219
Jan ’24€45.44
€54.55
+20.1%
7.7%€65.83€44.35€50.8418
Analyst Price Target
Consensus Narrative from 18 Analysts
€69.20
Fair Value
7.6% undervalued intrinsic discount
18
Number of Analysts

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


Discover undervalued companies

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/09 08:44
End of Day Share Price 2025/01/09 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 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

Imperial Oil Limited is covered by 39 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
Harshit GuptaAccountability Research Corporation
Patrick O'RourkeATB Capital Markets
Yim ChengBarclays