Aurubis AG

DB:NDA Stock Report

Market Cap: €3.4b

Aurubis Valuation

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

Below Fair Value: NDA (€76.85) is trading above our estimate of fair value (€26.11)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NDA. This is calculated by dividing NDA's market cap by their current earnings.
What is NDA's PE Ratio?
PE Ratio9x
Earnings€373.93m
Market Cap€3.35b

Price to Earnings Ratio vs Peers

How does NDA's PE Ratio compare to its peers?

The above table shows the PE ratio for NDA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.6x
WCH Wacker Chemie
28.3x37.0%€3.5b
SDF K+S
78.9x61.1%€2.0b
FPE3 Fuchs
19.3x8.9%€5.1b
EVK Evonik Industries
35.8x33.1%€8.2b
NDA Aurubis
9x-6.2%€3.4b

Price-To-Earnings vs Peers: NDA is good value based on its Price-To-Earnings Ratio (9x) compared to the peer average (40.6x).

Price to Earnings Ratio vs Industry

How does NDA's PE Ratio compare vs other companies in the European Metals and Mining Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NDA 9.0xIndustry Avg. 12.1xNo. of Companies15PE0816243240+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NDA is good value based on its Price-To-Earnings Ratio (9x) compared to the European Metals and Mining industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is NDA'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.

NDA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9x
Fair PE Ratio11.5x

Price-To-Earnings vs Fair Ratio: NDA is good value based on its Price-To-Earnings Ratio (9x) compared to the estimated Fair Price-To-Earnings Ratio (11.5x).

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 NDA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€76.85
€70.70
-8.0%
16.9%€90.00€57.00n/a10
Nov ’25€72.50
€70.70
-2.5%
16.9%€90.00€57.00n/a10
Oct ’25€65.70
€69.67
+6.0%
15.3%€90.00€57.00n/a9
Sep ’25€68.45
€76.33
+11.5%
12.7%€90.00€60.00n/a9
Aug ’25€71.85
€78.22
+8.9%
11.7%€90.00€60.00n/a9
Jul ’25€76.95
€77.33
+0.5%
11.2%€90.00€60.00n/a9
Jun ’25€78.35
€77.78
-0.7%
11.2%€90.00€60.00n/a9
May ’25€76.50
€78.22
+2.3%
11.5%€90.00€60.00n/a9
Apr ’25€65.12
€82.11
+26.1%
19.9%€110.00€61.00n/a9
Mar ’25€59.22
€82.33
+39.0%
19.6%€110.00€61.00n/a9
Feb ’25€66.10
€85.22
+28.9%
16.4%€110.00€68.00n/a9
Jan ’25€74.38
€86.11
+15.8%
17.3%€110.00€60.00n/a9
Dec ’24€77.26
€89.78
+16.2%
16.9%€110.00€60.00n/a9
Nov ’24€77.08
€91.89
+19.2%
19.3%€123.00€60.00€72.509
Oct ’24€70.20
€91.00
+29.6%
20.0%€123.00€61.00€65.709
Sep ’24€71.70
€92.44
+28.9%
19.1%€123.00€61.00€68.459
Aug ’24€83.80
€98.14
+17.1%
17.4%€123.00€73.00€71.857
Jul ’24€78.50
€98.86
+25.9%
18.3%€128.00€73.00€76.957
Jun ’24€72.88
€98.86
+35.6%
17.2%€126.00€73.00€78.357
May ’24€83.14
€101.64
+22.3%
18.9%€136.00€69.00€76.507
Apr ’24€84.90
€101.50
+19.6%
19.3%€136.00€67.00€65.127
Mar ’24€95.64
€103.21
+7.9%
18.6%€136.00€67.00€59.227
Feb ’24€99.04
€91.57
-7.5%
26.5%€132.00€56.00€66.107
Jan ’24€77.82
€84.00
+7.9%
22.1%€110.00€56.00€74.387
Dec ’23€76.62
€78.00
+1.8%
21.2%€110.00€56.00€77.267
Nov ’23€65.30
€76.86
+17.7%
20.2%€110.00€58.00€77.087

Analyst Forecast: Target price is lower than the current share price.

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