Perimeter Solutions, Inc.

DB:I2T Stock Report

Market Cap: €1.7b

Perimeter Solutions Valuation

Is I2T 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 I2T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: I2T (€11.85) is trading below our estimate of fair value (€270.64)

Significantly Below Fair Value: I2T is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for I2T?

Key metric: As I2T is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for I2T. This is calculated by dividing I2T's market cap by their current revenue.
What is I2T's PS Ratio?
PS Ratio3.4x
SalesUS$534.19m
Market CapUS$1.84b

Price to Sales Ratio vs Peers

How does I2T's PS Ratio compare to its peers?

The above table shows the PS ratio for I2T vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
WCH Wacker Chemie
0.6x5.2%€3.5b
ACT AlzChem Group
1x7.5%€582.1m
2NF Syensqo
1.1x4.2%€7.4b
EVK Evonik Industries
0.5x2.2%€8.1b
I2T Perimeter Solutions
3.4x-2.7%€1.8b

Price-To-Sales vs Peers: I2T is expensive based on its Price-To-Sales Ratio (3.4x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does I2T's PS Ratio compare vs other companies in the European Chemicals Industry?

27 CompaniesPrice / SalesEstimated GrowthMarket Cap
I2T 3.4xIndustry Avg. 1.0xNo. of Companies30PS01.22.43.64.86+
27 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: I2T is expensive based on its Price-To-Sales Ratio (3.4x) compared to the European Chemicals industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is I2T'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.

I2T PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.4x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: I2T is expensive based on its Price-To-Sales Ratio (3.4x) compared to the estimated Fair Price-To-Sales Ratio (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 I2T forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.85
€15.24
+28.7%
12.5%€17.15€13.34n/a2
Nov ’25€12.30
€14.31
+16.4%
16.1%€16.62€12.01n/a2
Oct ’25€12.10
€13.03
+7.7%
24.1%€16.17€9.88n/a2
Sep ’25€10.50
€11.34
+8.0%
12.0%€12.70€9.98n/a2
Aug ’25€9.80
€9.59
-2.1%
15.7%€11.10€8.09n/a2
Jul ’25€6.95
€9.62
+38.4%
15.7%€11.12€8.11n/a2
Jun ’25€6.90
€9.62
+39.4%
15.7%€11.12€8.11n/a2
May ’25€6.50
€9.40
+44.5%
20.0%€11.27€7.52n/a2
Apr ’25€6.20
€7.39
+19.1%
12.5%€8.31€6.46n/a2
Mar ’25€5.75
€7.15
+24.3%
16.1%€8.30€5.99n/a2
Feb ’25€4.52
€6.21
+37.4%
33.3%€8.28€4.14n/a2
Jan ’25€4.06
€6.68
+64.6%
37.9%€9.22€4.15n/a2
Dec ’24€4.00
€6.68
+67.1%
37.9%€9.22€4.15n/a2
Nov ’24€2.64
€6.74
+155.2%
40.4%€9.46€4.02€12.302
Oct ’24€4.24
€8.63
+103.6%
26.3%€10.90€6.36€12.102
Sep ’24€5.45
€8.63
+58.4%
26.3%€10.90€6.36€10.502
Aug ’24€5.05
€8.63
+70.9%
26.3%€10.90€6.36€9.802
Jul ’24€5.60
€10.11
+80.6%
9.1%€11.03€9.19€6.952
Jun ’24€5.20
€10.11
+94.5%
9.1%€11.03€9.19€6.902
May ’24€6.50
€10.48
+61.3%
4.3%€10.94€10.03€6.502
Apr ’24€7.20
€12.32
+71.1%
7.7%€13.27€11.37€6.202
Mar ’24€8.15
€12.19
+49.6%
7.7%€13.13€11.25€5.752
Feb ’24€8.35
€12.08
+44.7%
7.7%€13.01€11.15€4.522
Jan ’24€8.20
€12.34
+50.5%
7.7%€13.29€11.39€4.062
Dec ’23€10.10
€12.97
+28.4%
7.7%€13.97€11.97€4.002
Nov ’23€7.55
€13.26
+75.7%
7.7%€14.28€12.24€2.642

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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