Bonduelle SCA

DB:BDU Stock Report

Market Cap: €206.9m

Bonduelle Valuation

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

Below Fair Value: BDU (€6.31) is trading below our estimate of fair value (€31.86)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for BDU. This is calculated by dividing BDU's market cap by their current revenue.
What is BDU's PS Ratio?
PS Ratio0.09x
Sales€2.37b
Market Cap€206.87m

Price to Sales Ratio vs Peers

How does BDU's PS Ratio compare to its peers?

The above table shows the PS ratio for BDU 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€415.6m
SSH Südwestdeutsche Salzwerke
1.7xn/a€609.4m
SMB Schwälbchen Molkerei Jakob Berz
0.3xn/a€55.8m
SZU Südzucker
0.2x0.5%€2.2b
BDU Bonduelle
0.09x1.7%€206.9m

Price-To-Sales vs Peers: BDU is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

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

36 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.7x3.9%
BDU Bonduelle
 0.09x1.7%US$216.73m
BDU 0.1xIndustry Avg. 0.7xNo. of Companies48PS00.81.62.43.24+
36 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.7x10.1%
BDU Bonduelle
 0.09x98.4%US$216.73m
No more companies

Price-To-Sales vs Industry: BDU is good value based on its Price-To-Sales Ratio (0.1x) compared to the European Food industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is BDU'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.

BDU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.09x
Fair PS Ratio0.2x

Price-To-Sales vs Fair Ratio: BDU is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.2x).

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 BDU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€6.41
€8.98
+40.1%
15.4%€11.00€7.20n/a5
Nov ’25€6.58
€8.60
+30.7%
13.6%€11.00€7.20n/a6
Oct ’25€7.00
€9.87
+41.0%
19.5%€12.50€7.00n/a6
Sep ’25€6.68
€9.87
+47.7%
19.5%€12.50€7.00n/a6
Aug ’25€6.20
€9.70
+56.5%
18.3%€12.50€7.00n/a5
Jul ’25€6.33
€10.54
+66.5%
11.1%€12.50€9.00n/a5
Jun ’25€7.65
€10.78
+41.0%
11.1%€12.50€9.00n/a6
May ’25€8.00
€11.12
+39.0%
8.9%€12.50€9.50n/a6
Apr ’25€7.49
€11.37
+51.8%
12.4%€14.00€9.50n/a6
Mar ’25€9.39
€11.70
+24.6%
9.7%€14.00€10.40n/a6
Feb ’25€9.92
€12.10
+22.0%
7.6%€14.00€11.00n/a6
Jan ’25€10.78
€12.10
+12.2%
7.6%€14.00€11.00n/a6
Dec ’24€10.34
€12.10
+17.0%
7.6%€14.00€11.00n/a6
Nov ’24€10.10
€12.57
+24.4%
8.9%€14.00€11.00€6.586
Oct ’24€10.14
€12.33
+21.6%
9.3%€13.80€10.20€7.006
Sep ’24€10.96
€12.33
+12.5%
9.3%€13.80€10.20€6.686
Aug ’24€10.74
€12.33
+14.8%
9.3%€13.80€10.20€6.206
Jul ’24€11.08
€12.33
+11.3%
9.3%€13.80€10.20€6.336
Jun ’24€11.56
€13.00
+12.5%
6.3%€14.20€12.00€7.656
May ’24€11.38
€15.22
+33.7%
23.8%€23.00€12.00€8.006
Apr ’24€11.98
€15.22
+27.0%
23.8%€23.00€12.00€7.496
Mar ’24€13.08
€14.52
+11.0%
26.5%€23.00€12.00€9.396
Feb ’24€12.76
€14.52
+13.8%
26.5%€23.00€12.00€9.926
Jan ’24€13.24
€14.52
+9.6%
26.5%€23.00€12.00€10.786
Dec ’23€12.28
€14.27
+16.2%
27.7%€23.00€12.00€10.346
Nov ’23€11.68
€14.27
+22.1%
27.7%€23.00€12.00€10.106

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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