Umicore SA

XTRA:NVJP Stock Report

Market Cap: €2.4b

Umicore Valuation

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

Below Fair Value: NVJP (€10.3) is trading above our estimate of fair value (€1.16)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for NVJP. This is calculated by dividing NVJP's market cap by their current revenue.
What is NVJP's PS Ratio?
PS Ratio0.2x
Sales€15.72b
Market Cap€2.44b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NVJP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
WCH Wacker Chemie
0.6x5.2%€3.6b
2NF Syensqo
1.1x4.2%€7.5b
EVK Evonik Industries
0.5x2.2%€8.1b
1COV Covestro
0.8x4.3%€10.8b
NVJP Umicore
0.2x-37.0%€2.4b

Price-To-Sales vs Peers: NVJP is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does NVJP's PS Ratio compare vs other companies in the DE Chemicals Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
2HRA H&R GmbH KGaA
0.1x2.7%US$132.57m
NSAK OTI Greentech
0.03xn/aUS$594.68k
B7Y Byotrol
0.04xn/aUS$246.97k
No more companies available in this PS range
NVJP 0.2xIndustry Avg. 1.0xNo. of Companies5PS00.40.81.21.62+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NVJP is good value based on its Price-To-Sales Ratio (0.2x) compared to the European Chemicals industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is NVJP'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.

NVJP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.06x

Price-To-Sales vs Fair Ratio: NVJP is expensive based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0.1x).

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 NVJP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.30
€14.32
+39.1%
19.2%€20.00€10.00n/a17
Nov ’25€11.35
€14.79
+30.3%
17.3%€20.00€10.00n/a17
Oct ’25€11.73
€14.85
+26.6%
16.5%€20.00€11.00n/a17
Sep ’25€11.34
€15.16
+33.7%
17.3%€20.00€11.00n/a17
Aug ’25€12.59
€15.73
+24.9%
19.3%€22.00€11.00n/a17
Jul ’25€13.68
€17.46
+27.7%
24.9%€29.00€13.00n/a17
Jun ’25€18.22
€21.97
+20.6%
16.1%€29.00€16.50n/a17
May ’25€20.96
€24.39
+16.4%
22.0%€40.00€18.00n/a18
Apr ’25€20.01
€24.81
+24.0%
21.0%€40.00€18.00n/a18
Mar ’25€20.07
€26.18
+30.4%
25.6%€46.00€18.00n/a20
Feb ’25€21.08
€27.15
+28.8%
22.8%€46.00€20.00n/a20
Jan ’25€24.93
€29.54
+18.5%
22.2%€50.00€21.00n/a20
Dec ’24€24.25
€29.84
+23.0%
21.2%€50.00€22.00n/a20
Nov ’24€22.18
€30.44
+37.2%
21.2%€50.00€22.00€11.3520
Oct ’24€22.54
€30.89
+37.0%
19.0%€50.00€22.00€11.7320
Sep ’24€24.73
€31.04
+25.5%
19.2%€50.00€22.00€11.3419
Aug ’24€27.17
€30.78
+13.3%
19.9%€50.00€22.00€12.5918
Jul ’24€25.60
€32.63
+27.4%
21.9%€53.00€22.00€13.6816
Jun ’24€26.29
€33.25
+26.5%
21.8%€53.00€22.00€18.2216
May ’24€29.76
€34.13
+14.7%
20.7%€53.00€25.00€20.9615
Apr ’24€31.20
€34.06
+9.2%
20.2%€53.00€25.00€20.0116
Mar ’24€31.81
€34.12
+7.3%
19.5%€53.00€25.00€20.0717
Feb ’24€34.36
€34.65
+0.8%
19.4%€53.00€25.00€21.0817
Jan ’24€34.62
€35.78
+3.3%
21.8%€54.00€25.00€24.9318
Dec ’23€34.80
€35.83
+3.0%
21.8%€54.00€25.00€24.2518
Nov ’23€33.12
€35.78
+8.0%
21.8%€54.00€25.00€22.1818

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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