Healius Limited

DB:PGZ Stock Report

Market Cap: €602.7m

Healius Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: PGZ (€0.81) is trading below our estimate of fair value (€1.03)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for PGZ. This is calculated by dividing PGZ's market cap by their current revenue.
What is PGZ's PS Ratio?
PS Ratio0.6x
SalesAU$1.75b
Market CapAU$973.02m

Price to Sales Ratio vs Peers

How does PGZ's PS Ratio compare to its peers?

The above table shows the PS ratio for PGZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
SYAB SYNLAB
1x4.4%€2.5b
V3V VITA 34
0.9x2.9%€72.5m
FME Fresenius Medical Care
0.7x3.8%€12.6b
FRE Fresenius SE KGaA
0.8x3.6%€18.8b
PGZ Healius
0.6x-4.8%€973.0m

Price-To-Sales vs Peers: PGZ is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does PGZ's PS Ratio compare vs other companies in the DE Healthcare Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
EIF MedNation
0.1xn/aUS$5.23m
TLIK Arzneiwerk VIDA
0.08xn/aUS$4.80m
No more companies available in this PS range
PGZ 0.6xIndustry Avg. 0.7xNo. of Companies4PS00.40.81.21.62+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PGZ is good value based on its Price-To-Sales Ratio (0.6x) compared to the European Healthcare industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is PGZ'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.

PGZ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: PGZ is expensive based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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 PGZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.81
€0.89
+11.1%
23.5%€1.44€0.66n/a10
Nov ’25€0.93
€1.07
+15.5%
18.1%€1.53€0.84n/a9
Oct ’25€1.05
€1.09
+3.7%
18.8%€1.54€0.85n/a8
Sep ’25€0.96
€0.94
-2.4%
30.6%€1.82€0.61n/a12
Aug ’25€0.83
€0.83
-0.7%
36.2%€1.81€0.54n/a13
Jul ’25€0.82
€0.84
+2.1%
36.6%€1.86€0.56n/a13
Jun ’25€0.77
€0.84
+9.5%
35.8%€1.83€0.61n/a13
May ’25€0.71
€0.83
+15.6%
36.0%€1.82€0.61n/a13
Apr ’25€0.78
€0.83
+5.9%
35.9%€1.81€0.60n/a13
Mar ’25€0.69
€0.83
+21.3%
36.9%€1.81€0.60n/a12
Feb ’25€0.80
€0.95
+19.7%
29.4%€1.83€0.76n/a12
Jan ’25€0.99
€1.13
+13.2%
38.9%€2.11€0.73n/a11
Dec ’24€0.94
€1.11
+18.5%
38.9%€2.07€0.72n/a11
Nov ’24€1.08
€1.73
+60.3%
14.7%€2.12€1.38€0.9311
Oct ’24€1.38
€1.78
+29.1%
13.1%€2.15€1.46€1.0511
Sep ’24€1.61
€1.77
+9.8%
12.0%€2.12€1.48€0.9612
Aug ’24€1.71
€1.87
+9.6%
14.2%€2.41€1.57€0.8312
Jul ’24€1.88
€1.96
+4.3%
14.0%€2.51€1.63€0.8212
Jun ’24€1.85
€1.92
+3.6%
14.2%€2.48€1.59€0.7712
May ’24€1.76
€1.89
+7.5%
15.1%€2.52€1.60€0.7112
Apr ’24€1.91
€1.88
-1.3%
14.5%€2.46€1.60€0.7812
Mar ’24€1.68
€1.95
+16.0%
13.8%€2.54€1.65€0.6915
Feb ’24€2.02
€2.09
+3.6%
12.0%€2.68€1.78€0.8014
Jan ’24€1.90
€2.13
+12.3%
16.6%€3.08€1.70€0.9915
Dec ’23€1.87
€2.27
+21.5%
16.2%€3.11€1.75€0.9415
Nov ’23€2.20
€2.58
+17.1%
11.7%€3.11€2.06€1.0815

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

Discover undervalued companies

LNA Santé

€244.9m

Engages in the management and operation of health establishments.

2N3

€23.30

7D

-5.3%

1Y

19.1%

Shandong Weigao Group Medical Polymer

HK$19.8b

Engages in the research and development, production, wholesale, and sale of medical devices in the People’s Republic of China.

UK2

HK$0.51

7D

-10.5%

1Y

-38.6%

Top Glove Corporation Bhd

RM 7.8b

An investment holding company, manufactures, trades in, and sells gloves in Malaysia, Thailand, the People’s Republic of China, and internationally.

5OU

RM 0.98

7D

0.5%

1Y

-82.5%