Benchmark Holdings plc

DB:31B Stock Report

Market Cap: €328.7m

Benchmark Holdings Valuation

Is 31B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 31B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 31B (€0.42) is trading below our estimate of fair value (€0.78)

Significantly Below Fair Value: 31B is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 31B?

Key metric: As 31B is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 31B. This is calculated by dividing 31B's market cap by their current revenue.
What is 31B's PS Ratio?
PS Ratio1.9x
SalesUK£147.51m
Market CapUK£273.35m

Price to Sales Ratio vs Peers

How does 31B's PS Ratio compare to its peers?

The above table shows the PS ratio for 31B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
NLM FRoSTA
0.6xn/a€408.8m
SSH Südwestdeutsche Salzwerke
1.8xn/a€630.5m
SMB Schwälbchen Molkerei Jakob Berz
0.3xn/a€55.8m
SZU Südzucker
0.2x-2.3%€2.3b
31B Benchmark Holdings
1.9x14.2%€273.4m

Price-To-Sales vs Peers: 31B is expensive based on its Price-To-Sales Ratio (1.9x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does 31B's PS Ratio compare vs other companies in the European Food Industry?

37 CompaniesPrice / SalesEstimated GrowthMarket Cap
31B 1.9xIndustry Avg. 0.6xNo. of Companies44PS00.81.62.43.24+
37 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 31B is expensive based on its Price-To-Sales Ratio (1.9x) compared to the European Food industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is 31B's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

31B PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.9x
Fair PS Ratio0.7x

Price-To-Sales vs Fair Ratio: 31B is expensive based on its Price-To-Sales Ratio (1.9x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

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 31B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.42
€0.59
+39.9%
16.3%€0.71€0.47n/a3
Nov ’25€0.43
€0.59
+39.3%
16.3%€0.71€0.47n/a3
Oct ’25€0.45
€0.59
+31.8%
16.3%€0.71€0.47n/a3
Sep ’25€0.48
€0.67
+39.8%
7.0%€0.71€0.62n/a2
Aug ’25€0.45
€0.61
+35.2%
14.3%€0.71€0.50n/a3
Jul ’25€0.45
€0.64
+43.2%
15.0%€0.74€0.49n/a4
Jun ’25€0.49
€0.64
+30.9%
15.0%€0.74€0.49n/a4
May ’25€0.50
€0.64
+28.1%
14.8%€0.74€0.49n/a4
Apr ’25€0.50
€0.67
+35.8%
16.6%€0.82€0.49n/a5
Mar ’25€0.52
€0.67
+29.5%
16.6%€0.82€0.49n/a5
Feb ’25€0.49
€0.68
+39.1%
17.3%€0.82€0.49n/a5
Jan ’25€0.35
€0.73
+107.3%
10.7%€0.82€0.61n/a4
Dec ’24€0.37
€0.73
+95.1%
10.7%€0.82€0.61n/a4
Nov ’24€0.41
€0.68
+67.0%
16.8%€0.81€0.48€0.435
Oct ’24€0.41
€0.68
+65.4%
16.8%€0.81€0.48€0.455
Sep ’24€0.41
€0.73
+77.1%
9.4%€0.82€0.63€0.484
Aug ’24€0.45
€0.72
+59.6%
8.7%€0.81€0.62€0.455
Jul ’24€0.44
€0.72
+63.2%
8.7%€0.81€0.62€0.455
Jun ’24€0.48
€0.72
+51.7%
8.8%€0.81€0.62€0.495
May ’24€0.45
€0.67
+49.5%
14.5%€0.80€0.50€0.506
Apr ’24€0.38
€0.67
+75.9%
14.4%€0.79€0.50€0.506
Mar ’24€0.41
€0.69
+68.3%
14.6%€0.80€0.50€0.525
Feb ’24€0.41
€0.73
+78.0%
6.5%€0.79€0.68€0.493
Jan ’24€0.37
€0.74
+103.4%
6.5%€0.81€0.69€0.353
Dec ’23€0.42
€0.74
+75.6%
6.5%€0.81€0.69€0.373
Nov ’23€0.41
€0.75
+80.8%
6.3%€0.80€0.69€0.414

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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