Whitehaven Coal Limited

DB:WC2 Stock Report

Market Cap: €2.6b

Whitehaven Coal Valuation

Is WC2 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 WC2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€4.34
Fair Value
28.9% undervalued intrinsic discount
15
Number of Analysts

Below Fair Value: WC2 (€3.09) is trading below our estimate of fair value (€4.34)

Significantly Below Fair Value: WC2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WC2?

Key metric: As WC2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for WC2. This is calculated by dividing WC2's market cap by their current earnings.
What is WC2's PE Ratio?
PE Ratio26.6x
EarningsAU$174.00m
Market CapAU$4.63b

Price to Earnings Ratio vs Peers

How does WC2's PE Ratio compare to its peers?

The above table shows the PE ratio for WC2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.4x
ETG EnviTec Biogas
14.1xn/a€402.4m
VH2 Friedrich Vorwerk Group
28.4x13.72%€1.2b
GEMS Golden Energy Mines
7.9xn/aRp53.5t
AADI Adaro Andalan Indonesia
3.1x-15.52%Rp56.3t
WC2 Whitehaven Coal
26.6x26.43%€4.6b

Price-To-Earnings vs Peers: WC2 is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the peer average (14.4x).

Price to Earnings Ratio vs Industry

How does WC2's PE Ratio compare vs other companies in the European Oil and Gas Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
WC2 26.6xIndustry Avg. 9.9xNo. of Companies15PE0612182430+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WC2 is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the European Oil and Gas industry average (9.9x).

Price to Earnings Ratio vs Fair Ratio

What is WC2'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.

WC2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.6x
Fair PE Ratio28.6x

Price-To-Earnings vs Fair Ratio: WC2 is good value based on its Price-To-Earnings Ratio (26.6x) compared to the estimated Fair Price-To-Earnings Ratio (28.6x).

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 WC2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.09
€3.76
+21.76%
17.62%€5.10€2.52n/a15
May ’26€2.77
€3.82
+37.70%
19.65%€5.20€2.51n/a15
Apr ’26€3.05
€4.88
+59.81%
12.15%€5.67€3.80n/a15
Mar ’26€3.30
€5.25
+58.91%
9.41%€5.89€4.25n/a15
Feb ’26€3.64
€5.25
+44.28%
7.50%€5.80€4.48n/a15
Jan ’26€3.60
€5.41
+50.17%
6.04%€5.85€4.79n/a15
Dec ’25€3.97
€5.39
+35.92%
6.99%€5.93€4.76n/a15
Nov ’25€4.10
€5.32
+29.74%
6.99%€5.85€4.70n/a15
Oct ’25€4.43
€5.41
+21.99%
10.30%€6.22€4.23n/a15
Sep ’25€4.06
€5.45
+34.24%
11.12%€6.35€4.17n/a14
Aug ’25€4.63
€5.67
+22.40%
9.94%€6.58€4.71n/a14
Jul ’25€4.96
€5.66
+14.10%
11.48%€7.08€4.60n/a14
Jun ’25€5.00
€5.47
+9.48%
10.68%€7.00€4.55€3.0914
May ’25€4.61
€5.34
+15.88%
10.97%€6.87€4.46€2.7713
Apr ’25€4.26
€4.95
+16.14%
16.95%€6.89€3.63€3.0512
Mar ’25€4.19
€4.91
+17.13%
16.89%€6.83€3.60€3.3012
Feb ’25€5.00
€5.10
+1.96%
16.59%€6.90€3.75€3.6412
Jan ’25€4.67
€5.09
+8.86%
19.04%€7.34€3.85€3.6012
Dec ’24€4.36
€5.00
+14.68%
18.81%€7.28€3.82€3.9712
Nov ’24€4.42
€4.85
+9.72%
13.38%€6.01€3.78€4.1012
Oct ’24€4.34
€4.32
-0.48%
16.01%€5.93€3.15€4.4313
Sep ’24€3.79
€4.33
+14.40%
13.58%€5.64€3.56€4.0613
Aug ’24€4.18
€4.83
+15.67%
11.87%€5.84€3.65€4.6313
Jul ’24€4.14
€4.94
+19.39%
10.81%€5.98€4.12€4.9614
Jun ’24€3.48
€5.14
+47.74%
10.12%€5.96€4.26€5.0013
AnalystConsensusTarget
Consensus Narrative from 15 Analysts
€3.67
Fair Value
16.1% undervalued intrinsic discount
15
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 Analysis2025/05/31 03:44
End of Day Share Price 2025/05/30 00:00
Earnings2024/12/31
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

Whitehaven Coal Limited is covered by 35 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dale KoendersBarrenjoey Markets Pty Limited
Glyn LawcockBarrenjoey Markets Pty Limited
Josh KannourakisBarrenjoey Markets Pty Limited