Nippon Paint Holdings Co., Ltd.

DB:NI7 Stock Report

Market Cap: €14.4b

Nippon Paint Holdings Valuation

Is NI7 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 NI7 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NI7 (€6) is trading below our estimate of fair value (€8.3)

Significantly Below Fair Value: NI7 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NI7?

Key metric: As NI7 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NI7. This is calculated by dividing NI7's market cap by their current earnings.
What is NI7's PE Ratio?
PE Ratio18.9x
EarningsJP¥123.24b
Market CapJP¥2.33t

Price to Earnings Ratio vs Peers

How does NI7's PE Ratio compare to its peers?

The above table shows the PE ratio for NI7 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28.4x
SY1 Symrise
37.1x13.2%€14.6b
EVK Evonik Industries
35.4x33.1%€8.1b
WCH Wacker Chemie
28.8x37.0%€3.6b
ACT AlzChem Group
12.1x12.6%€608.5m
NI7 Nippon Paint Holdings
18.9x8.1%€2.3t

Price-To-Earnings vs Peers: NI7 is good value based on its Price-To-Earnings Ratio (18.9x) compared to the peer average (28.4x).

Price to Earnings Ratio vs Industry

How does NI7's PE Ratio compare vs other companies in the European Chemicals Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NI7 18.9xIndustry Avg. 16.8xNo. of Companies12PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NI7 is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the European Chemicals industry average (16.8x).

Price to Earnings Ratio vs Fair Ratio

What is NI7'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.

NI7 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.9x
Fair PE Ratio17.6x

Price-To-Earnings vs Fair Ratio: NI7 is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).

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 NI7 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€6.00
€7.15
+19.1%
10.1%€8.27€5.87n/a11
Nov ’25€6.75
€6.97
+3.3%
12.0%€8.32€5.67n/a11
Oct ’25€6.70
€7.41
+10.6%
12.9%€9.24€5.99n/a11
Sep ’25€5.65
€7.35
+30.1%
11.1%€8.87€5.81n/a11
Aug ’25€5.65
€7.26
+28.5%
10.2%€8.69€6.29n/a10
Jul ’25€5.90
€7.17
+21.4%
9.6%€8.44€6.41n/a9
Jun ’25€6.05
€7.23
+19.4%
9.0%€8.51€6.46n/a9
May ’25€5.85
€7.27
+24.4%
8.1%€8.45€6.64n/a8
Apr ’25€6.45
€7.68
+19.1%
8.9%€8.63€6.78n/a6
Mar ’25€6.70
€7.83
+16.9%
8.3%€8.57€7.04n/a6
Feb ’25€7.15
€7.77
+8.6%
10.9%€8.68€6.63n/a6
Jan ’25€7.10
€7.77
+9.4%
10.9%€8.68€6.63n/a6
Dec ’24€6.65
€7.77
+16.8%
10.9%€8.68€6.63n/a6
Nov ’24€6.10
€8.24
+35.1%
11.7%€10.13€7.28€6.756
Oct ’24€6.20
€8.24
+32.9%
11.7%€10.13€7.28€6.706
Sep ’24€7.05
€8.34
+18.2%
11.6%€10.02€7.20€5.657
Aug ’24€7.95
€9.44
+18.8%
8.8%€10.71€8.04€5.657
Jul ’24€7.30
€9.44
+29.3%
8.8%€10.71€8.04€5.907
Jun ’24€7.00
€9.44
+34.9%
8.8%€10.71€8.04€6.057
May ’24€8.00
€9.88
+23.4%
8.8%€11.09€8.32€5.857
Apr ’24€8.30
€9.85
+18.6%
8.7%€11.10€8.33€6.457
Mar ’24€8.20
€9.58
+16.8%
9.2%€11.15€8.36€6.707
Feb ’24€8.10
€9.40
+16.0%
5.8%€10.03€8.48€7.157
Jan ’24€7.20
€8.92
+23.9%
11.3%€10.11€7.12€7.107
Dec ’23€7.95
€8.35
+5.0%
9.0%€9.33€6.97€6.657
Nov ’23€6.40
€8.67
+35.4%
8.6%€9.76€7.28€6.107

Analyst Forecast: Target price is less than 20% higher than the current share price.

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