Adicon Holdings Limited

DB:K0U Stock Report

Market Cap: €614.0m

Adicon Holdings Valuation

Is K0U 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 K0U when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: K0U (€0.82) is trading above our estimate of fair value (€0.04)

Significantly Below Fair Value: K0U is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for K0U?

Key metric: As K0U is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for K0U. This is calculated by dividing K0U's market cap by their current earnings.
What is K0U's PE Ratio?
PE Ratio20.9x
EarningsCN¥224.66m
Market CapCN¥4.69b

Price to Earnings Ratio vs Peers

How does K0U's PE Ratio compare to its peers?

The above table shows the PE ratio for K0U vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.7x
SYAB SYNLAB
28x-11.4%€2.5b
FME Fresenius Medical Care
18.5x19.3%€12.2b
RHK RHÖN-KLINIKUM
18.9x7.5%€850.1m
ILM1 Medios
25.2x43.9%€325.0m
K0U Adicon Holdings
20.9x20.2%€5.0b

Price-To-Earnings vs Peers: K0U is good value based on its Price-To-Earnings Ratio (20.9x) compared to the peer average (22.7x).

Price to Earnings Ratio vs Industry

How does K0U's PE Ratio compare vs other companies in the European Healthcare Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
K0U 20.9xIndustry Avg. 18.5xNo. of Companies9PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: K0U is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the European Healthcare industry average (18.8x).

Price to Earnings Ratio vs Fair Ratio

What is K0U'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.

K0U PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.9x
Fair PE Ratio26.4x

Price-To-Earnings vs Fair Ratio: K0U is good value based on its Price-To-Earnings Ratio (20.9x) compared to the estimated Fair Price-To-Earnings Ratio (26.4x).

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 K0U forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.81
€1.29
+57.9%
14.7%€1.52€0.88n/a7
Nov ’25€0.76
€1.29
+70.4%
10.7%€1.49€1.03n/a7
Oct ’25€1.02
€1.29
+27.0%
9.7%€1.46€1.02n/a7
Sep ’25€1.00
€1.71
+71.3%
7.9%€1.86€1.47n/a6
Aug ’25€1.09
€1.73
+59.0%
7.9%€1.88€1.49n/a6
Jul ’25€1.16
€1.78
+53.7%
5.7%€1.90€1.65n/a6
Jun ’25€0.92
€1.83
+98.6%
10.1%€2.17€1.63n/a6
May ’25€1.34
€1.85
+38.1%
10.4%€2.21€1.63n/a6
Apr ’25€1.36
€1.85
+35.8%
10.2%€2.20€1.63n/a6
Mar ’25€1.38
€1.95
+41.6%
13.1%€2.39€1.63n/a6
Feb ’25€1.08
€1.96
+81.9%
14.2%€2.39€1.63n/a5
Jan ’25€1.43
€2.07
+44.5%
9.2%€2.37€1.86n/a5
Dec ’24€1.14
€2.07
+81.2%
9.2%€2.37€1.86n/a5
Nov ’24€1.31
€2.07
+58.4%
9.5%€2.38€1.85€0.765
Oct ’24€1.78
€2.03
+14.1%
9.7%€2.34€1.82€1.025
Sep ’24n/a
€2.03
0%
9.7%€2.34€1.82€1.005

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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