Humble Group Valuation

Is B39 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 B39 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: B39 (€0.86) is trading below our estimate of fair value (€2.23)

Significantly Below Fair Value: B39 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for B39?

Key metric: As B39 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for B39. This is calculated by dividing B39's market cap by their current earnings.
What is B39's PE Ratio?
PE Ratio64.2x
EarningsSEK 71.00m
Market CapSEK 4.56b

Price to Earnings Ratio vs Peers

How does B39's PE Ratio compare to its peers?

The above table shows the PE ratio for B39 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.6x
BEI Beiersdorf
36.9x12.7%€27.6b
KAMART Karmarts
17.5xn/a฿13.2b
A352480 C&C International
8.4x20.7%₩378.9b
W7L Warpaint London
23.7x11.8%UK£410.5m
B39 Humble Group
64.2x65.1%€4.6b

Price-To-Earnings vs Peers: B39 is expensive based on its Price-To-Earnings Ratio (64.2x) compared to the peer average (21.9x).


Price to Earnings Ratio vs Industry

How does B39's PE Ratio compare vs other companies in the European Personal Products Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
B39 64.2xIndustry Avg. 22.0xNo. of Companies5PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: B39 is expensive based on its Price-To-Earnings Ratio (64.2x) compared to the European Personal Products industry average (21.8x).


Price to Earnings Ratio vs Fair Ratio

What is B39'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.

B39 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio64.2x
Fair PE Ratio43.1x

Price-To-Earnings vs Fair Ratio: B39 is expensive based on its Price-To-Earnings Ratio (64.2x) compared to the estimated Fair Price-To-Earnings Ratio (43.1x).


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 B39 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.86
€1.18
+37.7%
9.5%€1.30€1.07n/a2
Nov ’25€1.01
€1.09
+7.7%
19.0%€1.29€0.88n/a2
Oct ’25€1.09
€1.05
-3.7%
15.7%€1.22€0.89n/a2
Sep ’25€0.95
€1.05
+10.4%
15.7%€1.22€0.89n/a2
Aug ’25€0.79
€1.04
+31.4%
15.7%€1.20€0.88n/a2
Jul ’25€0.85
€1.07
+25.5%
15.7%€1.24€0.90n/a2
Jun ’25€0.76
€1.04
+37.5%
15.7%€1.20€0.88n/a2
May ’25€0.80
€1.03
+28.6%
15.7%€1.19€0.87n/a2
Apr ’25€0.76
€1.08
+42.6%
15.7%€1.25€0.91n/a2
Mar ’25€0.88
€1.08
+22.4%
15.7%€1.25€0.91n/a2
Feb ’25€0.94
€1.10
+16.7%
20.0%€1.32€0.88n/a2
Jul ’24€0.51
€1.70
+232.4%
59.0%€2.71€0.70€0.852
Jun ’24€0.55
€1.70
+212.3%
59.0%€2.71€0.70€0.762
May ’24€0.67
€1.93
+190.6%
44.2%€2.79€1.08€0.802
Apr ’24€0.55
€1.93
+252.0%
44.2%€2.79€1.08€0.762
Mar ’24€0.78
€1.93
+146.3%
44.2%€2.79€1.08€0.882
Feb ’24€0.85
€2.20
+158.1%
29.2%€2.84€1.56€0.942
Jan ’24€0.87
€2.20
+152.1%
29.2%€2.84€1.56€0.992
Dec ’23€0.83
€2.22
+166.3%
29.2%€2.86€1.57€0.802
Nov ’23€0.78
€2.49
+219.6%
26.7%€3.07€1.56€0.653

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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