SP Group Valuation

Q: What is the Fair Price of 1PU2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

1PU2 (€41.55) is trading below our estimate of [[fair value]] (€169.64)

Is 1PU2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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 1PU2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1PU2 (€41.55) is trading below our estimate of fair value (€169.64)

Significantly Below Fair Value: 1PU2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1PU2?

Key metric: As 1PU2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1PU2. This is calculated by dividing 1PU2's market cap by their current earnings.
What is 1PU2's PE Ratio?
PE Ratio	15.9x
Earnings	DKK 247.90m
Market Cap	DKK 3.93b

1PU2 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.6x
Enterprise Value/EBITDA	9x
PEG Ratio	1.3x

Price to Earnings Ratio vs Peers

How does 1PU2's PE Ratio compare to its peers?

The above table shows the PE ratio for 1PU2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	13.3x
SIM0 SIMONA	11.5x	n/a	€357.0m
FPE3 Fuchs	19.3x	8.9%	€5.1b
ACT AlzChem Group	12.1x	12.6%	€606.5m
UZU Uzin Utz	10.5x	2.1%	€250.2m
1PU2 SP Group	15.9x	12.1%	€3.9b

Price-To-Earnings vs Peers: 1PU2 is expensive based on its Price-To-Earnings Ratio (15.9x) compared to the peer average (13.3x).

Price to Earnings Ratio vs Industry

How does 1PU2's PE Ratio compare vs other companies in the European Chemicals Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 1PU2 is good value based on its Price-To-Earnings Ratio (15.9x) compared to the European Chemicals industry average (17.1x).

Price to Earnings Ratio vs Fair Ratio

What is 1PU2'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.

1PU2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.9x
Fair PE Ratio	13.2x

Price-To-Earnings vs Fair Ratio: 1PU2 is expensive based on its Price-To-Earnings Ratio (15.9x) 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?

Analyst Forecast: Insufficient data to show price forecast.

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