Pihlajalinna Oyj

DB:38P Stock Report

Market Cap: €248.4m

Pihlajalinna Oyj Valuation

Is 38P 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 38P when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 38P (€10.9) is trading below our estimate of fair value (€28.74)

Significantly Below Fair Value: 38P is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 38P?

Key metric: As 38P is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 38P. This is calculated by dividing 38P's market cap by their current earnings.
What is 38P's PE Ratio?
PE Ratio19.1x
Earnings€13.03m
Market Cap€248.39m

Price to Earnings Ratio vs Peers

How does 38P's PE Ratio compare to its peers?

The above table shows the PE ratio for 38P vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.8x
SYAB SYNLAB
28.1x-11.4%€2.5b
M12 M1 Kliniken
18.3x17.5%€307.1m
FME Fresenius Medical Care
18.8x19.3%€12.4b
ILM1 Medios
26x43.9%€334.7m
38P Pihlajalinna Oyj
19.1x14.2%€248.4m

Price-To-Earnings vs Peers: 38P is good value based on its Price-To-Earnings Ratio (19.1x) compared to the peer average (22.8x).

Price to Earnings Ratio vs Industry

How does 38P's PE Ratio compare vs other companies in the European Healthcare Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
38P 19.1xIndustry Avg. 18.7xNo. of Companies10PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 38P is expensive based on its Price-To-Earnings Ratio (19.1x) compared to the European Healthcare industry average (18.7x).

Price to Earnings Ratio vs Fair Ratio

What is 38P'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.

38P PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.1x
Fair PE Ratio16.4x

Price-To-Earnings vs Fair Ratio: 38P is expensive based on its Price-To-Earnings Ratio (19.1x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).

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 38P forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.90
€11.68
+7.1%
11.8%€13.30€9.50n/a4
Nov ’25€10.35
€11.08
+7.0%
8.5%€11.80€9.50n/a4
Oct ’25€9.62
€10.68
+11.0%
6.4%€11.20€9.50n/a4
Sep ’25€9.58
€10.68
+11.4%
6.4%€11.20€9.50n/a4
Aug ’25€9.68
€9.80
+1.2%
5.1%€10.50€9.20n/a4
Jul ’25€9.26
€9.68
+4.5%
3.5%€10.00€9.20n/a4
Jun ’25€9.28
€9.35
+0.8%
9.2%€10.00€7.90n/a4
May ’25€8.18
€8.30
+1.5%
6.0%€9.00€7.90n/a3
Apr ’25€7.59
€8.30
+9.4%
6.0%€9.00€7.90n/a3
Mar ’25€7.94
€8.30
+4.5%
6.0%€9.00€7.90n/a3
Feb ’25€7.07
€8.30
+17.4%
6.0%€9.00€7.90n/a3
Jan ’25€7.04
€8.57
+21.7%
5.6%€9.00€7.90n/a3
Dec ’24€6.99
€8.57
+22.6%
5.6%€9.00€7.90n/a3
Nov ’24€7.32
€8.93
+22.0%
4.7%€9.50€8.50€10.353
Oct ’24€8.04
€8.95
+11.3%
4.1%€9.50€8.50€9.624
Sep ’24€7.89
€8.95
+13.4%
4.1%€9.50€8.50€9.584
Aug ’24€8.68
€9.25
+6.6%
6.0%€10.00€8.50€9.684
Jul ’24€9.25
€9.25
0%
6.0%€10.00€8.50€9.264
Jun ’24€9.38
€9.25
-1.4%
6.0%€10.00€8.50€9.284
May ’24€9.11
€8.93
-2.0%
11.8%€10.00€7.20€8.184
Apr ’24€7.38
€8.43
+14.2%
10.6%€9.50€7.20€7.594
Mar ’24€8.01
€9.03
+12.7%
7.0%€9.60€8.00€7.944
Feb ’24€8.86
€9.90
+11.7%
7.4%€11.00€9.00€7.074
Jan ’24€8.48
€9.90
+16.7%
7.4%€11.00€9.00€7.044
Dec ’23€8.65
€9.90
+14.5%
7.4%€11.00€9.00€6.994
Nov ’23€9.24
€11.78
+27.4%
6.7%€12.50€10.60€7.324

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

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