Victrex plc

DB:1OY Stock Report

Market Cap: €903.9m

Victrex Valuation

Is 1OY 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 1OY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1OY (€10.2) is trading below our estimate of fair value (€24)

Significantly Below Fair Value: 1OY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1OY?

Key metric: As 1OY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1OY. This is calculated by dividing 1OY's market cap by their current earnings.
What is 1OY's PE Ratio?
PE Ratio24.4x
EarningsUK£30.70m
Market CapUK£750.46m

Price to Earnings Ratio vs Peers

How does 1OY's PE Ratio compare to its peers?

The above table shows the PE ratio for 1OY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.4x
ACT AlzChem Group
11.9x12.8%€578.0m
UZU Uzin Utz
10.3x2.1%€251.2m
WCH Wacker Chemie
28.4x37.0%€3.5b
2HRA H&R GmbH KGaA
23.1x52.9%€124.7m
1OY Victrex
24.4x37.8%€750.5m

Price-To-Earnings vs Peers: 1OY is expensive based on its Price-To-Earnings Ratio (24.4x) compared to the peer average (18.2x).

Price to Earnings Ratio vs Industry

How does 1OY's PE Ratio compare vs other companies in the European Chemicals Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1OY 24.4xIndustry Avg. 16.7xNo. of Companies13PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1OY is expensive based on its Price-To-Earnings Ratio (24.4x) compared to the European Chemicals industry average (16.7x).

Price to Earnings Ratio vs Fair Ratio

What is 1OY'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.

1OY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.4x
Fair PE Ratio23.4x

Price-To-Earnings vs Fair Ratio: 1OY is expensive based on its Price-To-Earnings Ratio (24.4x) compared to the estimated Fair Price-To-Earnings Ratio (23.4x).

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 1OY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.20
€15.49
+51.8%
17.8%€20.23€10.24n/a12
Nov ’25€10.20
€15.40
+50.9%
17.8%€20.11€10.18n/a12
Oct ’25€11.50
€15.64
+36.0%
14.8%€19.97€11.89n/a12
Sep ’25€12.10
€15.64
+29.3%
14.8%€19.97€11.89n/a12
Aug ’25€12.80
€16.36
+27.8%
12.7%€19.96€13.66n/a12
Jul ’25€13.40
€16.90
+26.1%
12.2%€20.80€13.67n/a12
Jun ’25€14.50
€17.26
+19.0%
13.8%€21.06€13.46n/a12
May ’25€14.70
€17.57
+19.5%
13.3%€20.90€13.82n/a12
Apr ’25€14.60
€17.85
+22.3%
14.8%€21.43€13.94n/a11
Mar ’25€14.40
€17.78
+23.5%
14.2%€21.39€13.91n/a12
Feb ’25€15.80
€18.28
+15.7%
13.2%€21.43€13.93n/a12
Jan ’25€17.20
€19.14
+11.3%
14.6%€24.26€14.51n/a13
Dec ’24€16.40
€18.91
+15.3%
14.2%€23.88€14.28€10.2013
Nov ’24€15.30
€18.94
+23.8%
14.5%€24.03€14.37€10.2013
Oct ’24€16.20
€19.68
+21.5%
13.9%€24.21€15.33€11.5014
Sep ’24€17.50
€20.09
+14.8%
13.0%€24.47€15.50€12.1014
Aug ’24€17.50
€20.10
+14.9%
12.8%€24.39€15.45€12.8014
Jul ’24€15.80
€20.54
+30.0%
12.8%€24.52€16.93€13.4014
Jun ’24€17.90
€21.90
+22.4%
14.7%€26.60€16.77€14.5014
May ’24€18.40
€22.52
+22.4%
12.9%€26.23€17.34€14.7014
Apr ’24€17.70
€22.81
+28.9%
12.6%€26.27€17.29€14.6015
Mar ’24€19.50
€22.89
+17.4%
11.9%€26.24€18.18€14.4015
Feb ’24€20.60
€22.95
+11.4%
10.5%€26.08€18.14€15.8015
Jan ’24€17.80
€23.02
+29.3%
10.6%€26.19€18.22€17.2015
Dec ’23€20.20
€24.08
+19.2%
13.5%€31.56€18.46€16.4015

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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