Labcorp Holdings Inc.

DB:N6B Stock Report

Market Cap: €19.3b

Labcorp Holdings Valuation

Is N6B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 N6B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: N6B (€226) is trading below our estimate of fair value (€726.35)

Significantly Below Fair Value: N6B is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for N6B?

Key metric: As N6B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for N6B. This is calculated by dividing N6B's market cap by their current earnings.
What is N6B's PE Ratio?
PE Ratio46x
EarningsUS$435.50m
Market CapUS$20.09b

Price to Earnings Ratio vs Peers

How does N6B's PE Ratio compare to its peers?

The above table shows the PE ratio for N6B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25x
FME Fresenius Medical Care
18.8x19.3%€12.4b
SYAB SYNLAB
28.1x-11.4%€2.5b
SHL Siemens Healthineers
28.6x14.2%€55.6b
AFX Carl Zeiss Meditec
24.4x16.3%€5.0b
N6B Labcorp Holdings
46x20.6%€20.1b

Price-To-Earnings vs Peers: N6B is expensive based on its Price-To-Earnings Ratio (46x) compared to the peer average (25x).

Price to Earnings Ratio vs Industry

How does N6B's PE Ratio compare vs other companies in the European Healthcare Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
N6B 46.0xIndustry Avg. 18.6xNo. of Companies10PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: N6B is expensive based on its Price-To-Earnings Ratio (46x) compared to the European Healthcare industry average (18.5x).

Price to Earnings Ratio vs Fair Ratio

What is N6B'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.

N6B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio46x
Fair PE Ratio30.9x

Price-To-Earnings vs Fair Ratio: N6B is expensive based on its Price-To-Earnings Ratio (46x) compared to the estimated Fair Price-To-Earnings Ratio (30.9x).

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 N6B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€226.00
€250.88
+11.0%
6.5%€281.37€221.83n/a16
Nov ’25€208.00
€240.10
+15.4%
6.5%€269.79€212.70n/a16
Oct ’25€197.50
€227.66
+15.3%
7.9%€254.76€180.67n/a16
Sep ’25€205.00
€224.27
+9.4%
8.7%€248.36€179.31n/a15
Aug ’25€196.00
€222.96
+13.8%
8.8%€254.84€185.33n/a15
Jul ’25€186.50
€221.21
+18.6%
7.3%€243.92€195.51n/a15
Jun ’25€176.50
€220.20
+24.8%
6.7%€241.93€193.91n/a15
May ’25€190.00
€224.43
+18.1%
6.8%€245.44€196.73n/a16
Apr ’25€199.00
€224.15
+12.6%
6.0%€247.16€201.39n/a15
Mar ’25€199.00
€225.85
+13.5%
6.0%€248.83€202.75n/a15
Feb ’25€200.00
€222.43
+11.2%
6.8%€248.91€198.21n/a14
Jan ’25€204.00
€221.93
+8.8%
6.3%€247.32€196.94n/a14
Dec ’24€198.00
€218.40
+10.3%
7.1%€245.78€191.16n/a14
Nov ’24€188.00
€226.72
+20.6%
7.5%€255.53€198.74€208.0014
Oct ’24€192.00
€230.56
+20.1%
8.6%€267.27€196.94€197.5014
Sep ’24€191.00
€227.72
+19.2%
7.5%€260.35€196.40€205.0014
Aug ’24€194.00
€232.76
+20.0%
9.0%€264.05€195.76€196.0014
Jul ’24€218.00
€246.64
+13.1%
7.2%€265.76€213.52€186.5014
Jun ’24€199.00
€251.63
+26.4%
6.1%€268.42€217.52€176.5014
May ’24€204.00
€252.03
+23.5%
6.7%€273.45€214.20€190.0014
Apr ’24€206.00
€264.97
+28.6%
4.3%€279.60€242.32€199.0013
Mar ’24€225.65
€268.15
+18.8%
4.6%€285.49€244.17€199.0013
Feb ’24€231.30
€256.91
+11.1%
7.6%€289.89€230.08€200.0013
Jan ’24€220.50
€259.85
+17.8%
7.7%€296.32€235.18€204.0013
Dec ’23€229.95
€269.95
+17.4%
7.2%€305.71€242.63€198.0013
Nov ’23€223.85
€285.36
+27.5%
6.7%€318.84€263.17€188.0013

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

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