OCI N.V.

DB:OIC Stock Report

Market Cap: €2.4b

OCI Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: OIC (€11.2) is trading above our estimate of fair value (€10.25)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for OIC. This is calculated by dividing OIC's market cap by their current revenue.
What is OIC's PS Ratio?
PS Ratio1.3x
SalesUS$1.95b
Market CapUS$2.50b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for OIC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.4x
SDF K+S
0.5x0.4%€2.0b
LXS LANXESS
0.3x2.8%€2.1b
WCH Wacker Chemie
0.6x5.2%€3.5b
TKA thyssenkrupp
0.07x1.1%€2.4b
OIC OCI
1.3x3.6%€2.4b

Price-To-Sales vs Peers: OIC is expensive based on its Price-To-Sales Ratio (1.3x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

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

27 CompaniesPrice / SalesEstimated GrowthMarket Cap
OIC 1.3xIndustry Avg. 1.0xNo. of Companies31PS01.22.43.64.86+
27 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: OIC is expensive based on its Price-To-Sales Ratio (1.3x) compared to the European Chemicals industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is OIC'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.

OIC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.3x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: OIC is expensive based on its Price-To-Sales Ratio (1.3x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).

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 OIC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.20
€18.26
+63.0%
46.1%€35.11€12.66n/a9
Nov ’25€10.80
€24.25
+124.6%
40.9%€35.31€12.30n/a9
Oct ’25€26.06
€31.75
+21.8%
6.0%€34.23€29.04n/a9
Sep ’25€28.49
€31.27
+9.8%
6.8%€34.19€26.18n/a12
Aug ’25€21.77
€30.75
+41.2%
11.5%€38.20€24.13n/a12
Jul ’25€22.33
€29.86
+33.7%
14.0%€37.95€21.92n/a13
Jun ’25€25.04
€29.94
+19.6%
13.8%€37.76€22.00n/a13
May ’25€25.22
€30.45
+20.7%
15.7%€38.71€22.42n/a12
Apr ’25€25.40
€30.18
+18.8%
14.9%€37.88€23.29n/a12
Mar ’25€24.15
€30.60
+26.7%
14.9%€38.29€23.54n/a12
Feb ’25€26.33
€28.57
+8.5%
17.4%€38.17€20.21n/a12
Jan ’25€26.13
€26.46
+1.3%
16.4%€37.57€19.90n/a12
Dec ’24€19.57
€26.82
+37.0%
16.5%€37.89€20.04n/a12
Nov ’24€21.44
€30.33
+41.5%
17.3%€42.08€23.92€10.8012
Oct ’24€26.30
€31.16
+18.5%
15.9%€42.10€24.85€26.0612
Sep ’24€23.51
€30.99
+31.8%
21.5%€47.21€24.19€28.4913
Aug ’24€24.97
€29.83
+19.5%
21.0%€46.70€23.03€21.7712
Jul ’24€22.03
€31.92
+44.9%
21.0%€46.19€25.12€22.3312
Jun ’24€20.42
€33.26
+62.9%
19.9%€46.79€25.45€25.0412
May ’24€23.65
€35.03
+48.1%
17.1%€45.76€24.74€25.2211
Apr ’24€31.20
€36.44
+16.8%
13.9%€46.74€29.80€25.4011
Mar ’24€31.06
€36.98
+19.1%
11.8%€43.70€30.03€24.1510
Feb ’24€31.28
€39.37
+25.9%
8.8%€45.96€32.84€26.3310
Jan ’24€33.54
€42.25
+26.0%
9.3%€48.13€33.26€26.1310
Dec ’23€39.76
€43.84
+10.3%
9.0%€49.80€34.41€19.5710
Nov ’23€38.38
€44.83
+16.8%
9.5%€52.05€35.97€21.4410

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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