Südzucker Valuation

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

Below Fair Value: SZU (€11.08) is trading below our estimate of fair value (€24.32)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SZU. This is calculated by dividing SZU's market cap by their current earnings.
What is SZU's PE Ratio?
PE Ratio6.7x
Earnings€336.00m
Market Cap€2.26b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SZU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.7x
SSH Südwestdeutsche Salzwerke
14.8xn/a€625.2m
NLM FRoSTA
11.9xn/a€415.6m
KWS KWS SAAT SE KGaA
9.8x-1.0%€1.9b
SMB Schwälbchen Molkerei Jakob Berz
6.2xn/a€51.9m
SZU Südzucker
6.7x-10.2%€2.3b

Price-To-Earnings vs Peers: SZU is good value based on its Price-To-Earnings Ratio (6.7x) compared to the peer average (10.7x).


Price to Earnings Ratio vs Industry

How does SZU's PE Ratio compare vs other companies in the European Food Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SZU 6.7xIndustry Avg. 13.3xNo. of Companies16PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SZU is good value based on its Price-To-Earnings Ratio (6.7x) compared to the European Food industry average (13.3x).


Price to Earnings Ratio vs Fair Ratio

What is SZU'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.

SZU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.7x
Fair PE Ratio13.1x

Price-To-Earnings vs Fair Ratio: SZU is good value based on its Price-To-Earnings Ratio (6.7x) compared to the estimated Fair Price-To-Earnings Ratio (13.1x).


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 SZU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.08
€10.98
-0.9%
18.6%€14.50€9.00n/a5
Nov ’25€11.00
€10.10
-8.2%
11.4%€12.00€9.00n/a4
Oct ’25€11.33
€11.10
-2.0%
17.2%€13.00€9.00n/a4
Sep ’25€12.18
€12.88
+5.7%
1.7%€13.00€12.50n/a4
Aug ’25€11.95
€12.88
+7.7%
1.7%€13.00€12.50n/a4
Jul ’25€13.79
€13.08
-5.2%
4.6%€14.00€12.30n/a4
Jun ’25€14.08
€12.80
-9.1%
7.9%€14.00€11.20n/a4
May ’25€13.40
€12.30
-8.2%
10.2%€14.00€11.00n/a4
Apr ’25€13.29
€13.05
-1.8%
18.5%€17.00€11.00n/a4
Mar ’25€13.00
€13.73
+5.6%
17.7%€17.00€11.20n/a3
Feb ’25€13.00
€13.73
+5.6%
17.7%€17.00€11.20n/a3
Jan ’25€14.19
€15.43
+8.8%
15.8%€17.30€12.00n/a3
Dec ’24€14.18
€15.86
+11.8%
12.5%€17.30€12.00n/a5
Nov ’24€14.46
€15.86
+9.7%
12.5%€17.30€12.00€11.005
Oct ’24€14.08
€16.44
+16.8%
5.1%€17.20€15.00€11.335
Sep ’24€15.02
€17.80
+18.5%
13.9%€22.00€15.00€12.185
Aug ’24€15.84
€17.80
+12.4%
13.9%€22.00€15.00€11.955
Jul ’24€16.33
€17.50
+7.2%
12.8%€21.50€15.00€13.795
Jun ’24€15.99
€17.50
+9.4%
12.8%€21.50€15.00€14.085
May ’24€18.32
€17.98
-1.9%
14.0%€21.90€15.00€13.404
Apr ’24€15.48
€16.40
+5.9%
9.2%€18.60€15.00€13.294
Mar ’24€16.10
€16.22
+0.7%
8.6%€18.60€15.00€13.005
Feb ’24€14.92
€16.10
+7.9%
7.5%€18.00€15.00€13.005
Jan ’24€16.34
€14.93
-8.6%
10.1%€17.50€12.50€14.196
Dec ’23€14.13
€13.95
-1.3%
6.5%€15.50€12.50€14.186
Nov ’23€12.87
€13.35
+3.7%
6.3%€15.00€12.50€14.466

Analyst Forecast: Target price is lower than the current share price.


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