PHC Holdings Corporation

DB:2GY Stock Report

Market Cap: €768.6m

PHC Holdings Valuation

Is 2GY 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 2GY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2GY (€5.95) is trading below our estimate of fair value (€10.31)

Significantly Below Fair Value: 2GY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2GY?

Key metric: As 2GY is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2GY. This is calculated by dividing 2GY's market cap by their current revenue.
What is 2GY's PS Ratio?
PS Ratio0.3x
SalesJP¥360.94b
Market CapJP¥121.72b

Price to Sales Ratio vs Peers

How does 2GY's PS Ratio compare to its peers?

The above table shows the PS ratio for 2GY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.2x
DRW3 Drägerwerk KGaA
0.2x4.2%€791.1m
EUZ Eckert & Ziegler
3.5x5.4%€960.1m
SBS Stratec
1.5x7.7%€382.9m
PUS PULSION Medical Systems
3.7xn/a€133.6m
2GY PHC Holdings
0.3x1.4%€121.7b

Price-To-Sales vs Peers: 2GY is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does 2GY's PS Ratio compare vs other companies in the DE Medical Equipment Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.3.5x6.0%
2GY PHC Holdings
 0.3x1.4%US$813.32m
DRW3 Drägerwerk KGaA
0.2x4.2%US$834.13m
PHH2 Paul Hartmann
0.3xn/aUS$789.28m
2GY 0.3xIndustry Avg. 3.5xNo. of Companies4PS01.63.24.86.48+
5 CompaniesEstimated GrowthMarket Cap
Industry Avg.3.5x14.2%
2GY PHC Holdings
 0.3x41.4%US$813.32m
No more companies

Price-To-Sales vs Industry: 2GY is good value based on its Price-To-Sales Ratio (0.3x) compared to the European Medical Equipment industry average (3.5x).

Price to Sales Ratio vs Fair Ratio

What is 2GY'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.

2GY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: 2GY is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (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 2GY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.95
€6.49
+9.0%
11.2%€7.51€5.44n/a6
Nov ’25€5.90
€6.83
+15.8%
6.8%€7.65€6.25n/a6
Oct ’25€6.50
€6.83
+5.1%
6.8%€7.65€6.25n/a6
Sep ’25€7.00
€6.64
-5.2%
6.8%€7.43€6.07n/a6
Aug ’25€6.75
€6.20
-8.2%
8.5%€7.02€5.32n/a6
Jul ’25€6.65
€6.40
-3.7%
10.4%€7.07€5.07n/a7
Jun ’25€6.30
€6.47
+2.6%
10.9%€7.04€5.05n/a7
May ’25€6.65
€7.32
+10.1%
10.0%€8.54€6.10n/a7
Apr ’25€7.40
€7.63
+3.1%
14.8%€9.82€6.14n/a7
Mar ’25€7.30
€8.73
+19.6%
20.2%€12.34€6.79n/a7
Feb ’25€9.50
€9.96
+4.8%
16.9%€12.60€7.56n/a7
Jan ’25€9.05
€10.11
+11.7%
16.6%€12.85€7.71n/a7
Dec ’24€9.00
€10.05
+11.7%
13.0%€12.23€7.95n/a7
Nov ’24€8.80
€10.50
+19.3%
12.6%€12.63€8.21€5.907
Oct ’24€9.50
€10.63
+11.9%
13.6%€12.62€8.20€6.507
Sep ’24€9.00
€10.63
+18.1%
13.6%€12.62€8.20€7.007
Aug ’24€9.55
€11.01
+15.3%
12.7%€13.10€8.94€6.757
Jul ’24€9.65
€11.87
+23.0%
17.2%€16.12€9.40€6.657
Jun ’24€9.85
€11.87
+20.5%
17.2%€16.12€9.40€6.307
May ’24€9.20
€12.07
+31.2%
15.7%€15.91€9.94€6.657
Apr ’24€9.75
€13.10
+34.4%
14.8%€16.68€10.42€7.407
Mar ’24€9.75
€13.10
+34.4%
14.8%€16.68€10.42€7.307
Feb ’24€10.60
€14.99
+41.4%
20.4%€21.13€11.27€9.507
Jan ’24€10.30
€14.98
+45.4%
20.1%€20.76€11.07€9.057
Dec ’23€10.70
€15.00
+40.2%
19.6%€20.72€11.40€9.007
Nov ’23€10.50
€15.05
+43.4%
16.4%€19.09€11.67€8.807

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

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