Daicel Corporation

BST:9DC Stock Report

Market Cap: €2.3b

Daicel Valuation

Is 9DC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 9DC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9DC (€8.2) is trading below our estimate of fair value (€11.12)

Significantly Below Fair Value: 9DC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9DC?

Key metric: As 9DC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9DC. This is calculated by dividing 9DC's market cap by their current earnings.
What is 9DC's PE Ratio?
PE Ratio6.3x
EarningsJP¥58.14b
Market CapJP¥366.76b

Price to Earnings Ratio vs Peers

How does 9DC's PE Ratio compare to its peers?

The above table shows the PE ratio for 9DC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average50.7x
BAS BASF
76.5x34.2%€37.6b
SDF K+S
78.9x61.1%€2.0b
WCH Wacker Chemie
28.3x37.0%€3.6b
FPE3 Fuchs
19.3x8.9%€5.1b
9DC Daicel
6.3x5.2%€366.8b

Price-To-Earnings vs Peers: 9DC is good value based on its Price-To-Earnings Ratio (6.3x) compared to the peer average (50.6x).

Price to Earnings Ratio vs Industry

How does 9DC's PE Ratio compare vs other companies in the European Chemicals Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
9DC 6.3xIndustry Avg. 16.8xNo. of Companies11PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 9DC is good value based on its Price-To-Earnings Ratio (6.3x) compared to the European Chemicals industry average (16.8x).

Price to Earnings Ratio vs Fair Ratio

What is 9DC'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.

9DC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.3x
Fair PE Ratio13.2x

Price-To-Earnings vs Fair Ratio: 9DC is good value based on its Price-To-Earnings Ratio (6.3x) compared to the estimated Fair Price-To-Earnings Ratio (13.2x).

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 9DC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.20
€11.27
+37.4%
20.7%€15.27€7.94n/a9
Nov ’25€7.95
€11.46
+44.1%
20.5%€15.38€8.00n/a9
Oct ’25€8.25
€11.52
+39.7%
21.8%€15.62€8.12n/a9
Sep ’25€8.05
€11.57
+43.7%
20.5%€15.54€8.21n/a9
Aug ’25€8.55
€11.26
+31.7%
19.5%€14.62€7.72n/a8
Jul ’25€8.85
€11.10
+25.4%
19.4%€14.51€7.66n/a8
Jun ’25€9.25
€10.34
+11.7%
16.5%€12.53€7.34n/a9
May ’25€8.65
€10.27
+18.7%
16.1%€12.18€7.49n/a8
Apr ’25€9.05
€10.27
+13.5%
16.1%€12.18€7.49n/a8
Mar ’25€9.10
€9.95
+9.4%
14.2%€11.66€7.59n/a7
Feb ’25€9.00
€10.27
+14.1%
14.0%€12.25€7.93n/a7
Jan ’25€8.65
€10.27
+18.8%
14.0%€12.25€7.93n/a7
Dec ’24€8.65
€10.68
+23.5%
21.4%€15.65€7.70n/a8
Nov ’24€8.15
€9.88
+21.3%
25.4%€15.75€7.56€7.958
Oct ’24€7.85
€10.23
+30.3%
25.2%€15.89€7.63€8.257
Sep ’24€7.80
€9.27
+18.9%
29.2%€15.06€5.96€8.058
Aug ’24€8.30
€9.94
+19.8%
26.0%€15.22€6.79€8.557
Jul ’24€8.05
€9.94
+23.5%
26.0%€15.22€6.79€8.857
Jun ’24€7.70
€8.95
+16.3%
20.4%€12.72€6.56€9.257
May ’24€7.10
€8.38
+18.0%
22.8%€12.81€6.41€8.658
Apr ’24€6.80
€8.54
+25.6%
23.5%€13.19€6.60€9.058
Mar ’24€6.55
€8.22
+25.5%
15.0%€10.33€6.54€9.108
Feb ’24€6.70
€8.52
+27.1%
15.7%€10.70€6.78€9.008
Jan ’24€6.70
€8.50
+26.8%
14.8%€10.56€6.69€8.658
Dec ’23€6.85
€7.67
+12.0%
19.6%€9.54€5.52€8.658
Nov ’23€5.75
€7.24
+25.8%
21.0%€9.61€5.56€8.158

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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