RHI Magnesita N.V.

DB:RHF Stock Report

Market Cap: €1.8b

RHI Magnesita Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: RHF (€37) is trading below our estimate of fair value (€81.23)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for RHF. This is calculated by dividing RHF's market cap by their current earnings.
What is RHF's PE Ratio?
PE Ratio9.6x
Earnings€185.60m
Market Cap€1.78b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for RHF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.6x
STO3 Sto SE KGaA
11x3.5%€723.6m
HEI Heidelberg Materials
11.4x7.8%€21.2b
SDF K+S
78.9x61.1%€2.0b
NDA Aurubis
9x-6.2%€3.4b
RHF RHI Magnesita
9.6x12.0%€1.5b

Price-To-Earnings vs Peers: RHF is good value based on its Price-To-Earnings Ratio (9.6x) compared to the peer average (27.6x).

Price to Earnings Ratio vs Industry

How does RHF's PE Ratio compare vs other companies in the European Basic Materials Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
RHF 9.6xIndustry Avg. 12.7xNo. of Companies9PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RHF is good value based on its Price-To-Earnings Ratio (9.6x) compared to the European Basic Materials industry average (12.7x).

Price to Earnings Ratio vs Fair Ratio

What is RHF'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.

RHF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.6x
Fair PE Ratio15.2x

Price-To-Earnings vs Fair Ratio: RHF is good value based on its Price-To-Earnings Ratio (9.6x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).

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 RHF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€37.00
€51.14
+38.2%
10.9%€60.43€45.79n/a4
Nov ’25€37.40
€50.18
+34.2%
9.0%€57.74€45.74n/a4
Oct ’25€40.30
€49.17
+22.0%
9.1%€57.74€45.24n/a5
Sep ’25€37.90
€49.17
+29.7%
9.1%€57.74€45.24n/a5
Aug ’25€42.50
€49.33
+16.1%
8.9%€57.74€45.24n/a5
Jul ’25€39.90
€49.11
+23.1%
8.8%€56.65€44.38n/a5
Jun ’25€39.60
€48.94
+23.6%
8.7%€56.65€44.38n/a5
May ’25€42.10
€48.95
+16.3%
8.6%€56.55€44.38n/a5
Apr ’25€40.90
€46.89
+14.7%
12.9%€56.61€36.56n/a6
Mar ’25€42.70
€45.72
+7.1%
13.1%€56.61€36.56n/a7
Feb ’25€38.50
€43.69
+13.5%
12.2%€51.66€36.56n/a6
Jan ’25€39.30
€40.72
+3.6%
17.2%€51.66€32.09n/a6
Dec ’24€31.50
€40.74
+29.3%
17.3%€51.66€32.09n/a6
Nov ’24€28.80
€40.67
+41.2%
17.5%€51.66€31.84€37.406
Oct ’24€31.40
€41.26
+31.4%
18.1%€52.55€28.89€40.306
Sep ’24€32.40
€41.23
+27.3%
18.0%€52.55€28.89€37.906
Aug ’24€34.70
€41.23
+18.8%
18.0%€52.55€28.89€42.506
Jul ’24€30.90
€35.99
+16.5%
28.6%€51.59€20.33€39.906
Jun ’24€29.30
€35.89
+22.5%
28.8%€51.59€20.33€39.606
May ’24€25.30
€35.04
+38.5%
26.9%€50.82€20.33€42.107
Apr ’24€25.70
€35.07
+36.4%
27.0%€51.08€20.30€40.907
Mar ’24€29.60
€35.13
+18.7%
27.0%€51.08€20.30€42.707
Feb ’24€30.10
€34.87
+15.9%
27.9%€51.15€20.30€38.507
Jan ’24€24.90
€35.58
+42.9%
26.1%€51.80€23.02€39.307
Dec ’23€25.30
€35.58
+40.6%
26.1%€51.80€23.02€31.507
Nov ’23€21.40
€38.04
+77.7%
27.5%€51.73€22.99€28.807

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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