Japfa Ltd.

DB:1O4 Stock Report

Market Cap: €551.4m

Japfa Valuation

Is 1O4 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 1O4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1O4 (€0.25) is trading below our estimate of fair value (€2.74)

Significantly Below Fair Value: 1O4 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1O4?

Key metric: As 1O4 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1O4. This is calculated by dividing 1O4's market cap by their current earnings.
What is 1O4's PE Ratio?
PE Ratio7.2x
EarningsUS$79.40m
Market CapUS$574.17m

Price to Earnings Ratio vs Peers

How does 1O4's PE Ratio compare to its peers?

The above table shows the PE ratio for 1O4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.4x
SSH Südwestdeutsche Salzwerke
15.8xn/a€630.5m
NLM FRoSTA
12.2xn/a€415.6m
SZU Südzucker
6.8x-10.2%€2.3b
SMB Schwälbchen Molkerei Jakob Berz
6.7xn/a€55.8m
1O4 Japfa
7.2x21.2%€774.1m

Price-To-Earnings vs Peers: 1O4 is good value based on its Price-To-Earnings Ratio (7.2x) compared to the peer average (10.4x).

Price to Earnings Ratio vs Industry

How does 1O4's PE Ratio compare vs other companies in the European Food Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1O4 7.2xIndustry Avg. 13.4xNo. of Companies17PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1O4 is good value based on its Price-To-Earnings Ratio (7.2x) compared to the European Food industry average (13.5x).

Price to Earnings Ratio vs Fair Ratio

What is 1O4'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.

1O4 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.2x
Fair PE Ratio21.7x

Price-To-Earnings vs Fair Ratio: 1O4 is good value based on its Price-To-Earnings Ratio (7.2x) compared to the estimated Fair Price-To-Earnings Ratio (21.7x).

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 1O4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.25
€0.38
+54.2%
2.9%€0.39€0.37n/a2
Nov ’25€0.24
€0.38
+55.5%
2.9%€0.39€0.37n/a2
Oct ’25€0.24
€0.32
+31.4%
6.5%€0.34€0.30n/a2
Sep ’25€0.22
€0.31
+44.5%
6.7%€0.34€0.29n/a2
Aug ’25€0.21
€0.28
+31.3%
9.8%€0.31€0.25n/a2
Oct ’24€0.13
€0.15
+9.5%
6.3%€0.15€0.14€0.242
Sep ’24€0.14
€0.15
+1.2%
6.3%€0.15€0.14€0.222
Aug ’24€0.15
€0.15
-0.2%
6.3%€0.15€0.14€0.212
Jul ’24€0.14
€0.15
+4.5%
6.3%€0.15€0.14€0.212
Jun ’24€0.15
€0.15
-1.9%
6.3%€0.15€0.14€0.202
May ’24€0.14
€0.15
+6.8%
6.3%€0.15€0.14€0.192
Apr ’24€0.15
€0.16
+7.1%
2.3%€0.17€0.16€0.162
Mar ’24€0.20
€0.34
+70.2%
12.7%€0.38€0.30€0.132
Feb ’24€0.23
€0.34
+49.9%
12.7%€0.38€0.30€0.122
Jan ’24€0.23
€0.42
+77.7%
8.6%€0.45€0.38€0.142
Dec ’23€0.34
€0.46
+35.6%
11.6%€0.52€0.41€0.142
Nov ’23€0.36
€0.49
+37.5%
5.3%€0.52€0.46€0.132

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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