The Campbell's Company

DB:CSC Stock Report

Market Cap: €13.0b

Campbell's Valuation

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

Below Fair Value: CSC (€42.28) is trading below our estimate of fair value (€97.51)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CSC. This is calculated by dividing CSC's market cap by their current earnings.
What is CSC's PE Ratio?
PE Ratio23.8x
EarningsUS$567.00m
Market CapUS$13.50b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CSC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.4x
SZU Südzucker
6.8x-10.2%€2.3b
SSH Südwestdeutsche Salzwerke
15.8xn/a€630.5m
NLM FRoSTA
12.2xn/a€415.6m
SMB Schwälbchen Molkerei Jakob Berz
6.7xn/a€55.8m
CSC Campbell's
23.8x15.0%€13.5b

Price-To-Earnings vs Peers: CSC is expensive based on its Price-To-Earnings Ratio (23.8x) compared to the peer average (10.4x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CSC 23.8xIndustry Avg. 13.4xNo. of Companies17PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CSC is expensive based on its Price-To-Earnings Ratio (23.8x) compared to the European Food industry average (13.5x).

Price to Earnings Ratio vs Fair Ratio

What is CSC'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.

CSC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.8x
Fair PE Ratio24.7x

Price-To-Earnings vs Fair Ratio: CSC is good value based on its Price-To-Earnings Ratio (23.8x) compared to the estimated Fair Price-To-Earnings Ratio (24.7x).

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 CSC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€42.28
€50.13
+18.6%
8.6%€58.58€42.25n/a20
Nov ’25€42.77
€47.61
+11.3%
8.4%€55.78€40.24n/a20
Oct ’25€43.73
€46.57
+6.5%
8.3%€54.78€38.62n/a20
Sep ’25€44.33
€44.91
+1.3%
8.9%€55.19€38.91n/a20
Aug ’25€44.06
€44.05
-0.02%
8.3%€56.24€38.72n/a20
Jul ’25€41.93
€44.65
+6.5%
8.2%€57.11€39.32n/a20
Jun ’25€40.06
€43.21
+7.9%
8.0%€56.23€38.72n/a21
May ’25€41.79
€43.68
+4.5%
8.2%€57.41€38.59n/a22
Apr ’25€40.56
€42.55
+4.9%
8.6%€56.03€37.66n/a22
Mar ’25€39.32
€42.92
+9.1%
9.9%€56.29€36.91n/a20
Feb ’25€41.19
€42.50
+3.2%
10.0%€56.12€36.80n/a21
Jan ’25€38.69
€41.56
+7.4%
9.5%€55.11€34.33n/a20
Dec ’24€37.09
€42.34
+14.2%
10.4%€56.09€34.94n/a20
Nov ’24€38.05
€43.84
+15.2%
10.1%€57.75€35.98€42.7720
Oct ’24€38.98
€44.07
+13.1%
9.8%€57.72€38.79€43.7319
Sep ’24€39.00
€43.84
+12.4%
10.0%€56.63€38.06€44.3318
Aug ’24€41.80
€45.52
+8.9%
8.6%€54.99€37.86€44.0619
Jul ’24€41.69
€46.40
+11.3%
6.9%€52.91€39.22€41.9319
Jun ’24€47.12
€48.82
+3.6%
9.0%€55.55€37.34€40.0618
May ’24€49.05
€48.44
-1.3%
8.9%€55.28€37.16€41.7918
Apr ’24€49.99
€49.70
-0.6%
9.0%€56.90€38.24€40.5618
Mar ’24€48.47
€49.15
+1.4%
8.9%€56.79€38.17€39.3219
Feb ’24€47.73
€48.67
+2.0%
8.8%€56.02€37.65€41.1919
Jan ’24€52.55
€49.49
-5.8%
9.3%€57.47€36.74€38.6919
Dec ’23€50.98
€46.68
-8.4%
7.2%€53.12€37.67€37.0918
Nov ’23€52.88
€49.45
-6.5%
7.4%€56.25€39.89€38.0517

Analyst Forecast: Target price is less than 20% higher than the current share price.

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