Filo Corp.

DB:Z94 Stock Report

Market Cap: €2.9b

Filo Valuation

Is Z94 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-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of Z94 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Z94 (€20.8) is trading below our estimate of fair value (€188.78)

Significantly Below Fair Value: Z94 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for Z94?

Key metric: As Z94 is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for Z94. This is calculated by dividing Z94's market cap by their current book value.
What is Z94's PB Ratio?
PB Ratio30.5x
BookUS$99.33m
Market CapUS$3.00b

Price to Book Ratio vs Peers

How does Z94's PB Ratio compare to its peers?

The above table shows the PB ratio for Z94 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average11.1x
TKA thyssenkrupp
0.3x96.8%€2.5b
NDA Aurubis
0.7x-5.3%€3.3b
M0LY Greenland Resources
42.5xn/a€60.4m
WCH Wacker Chemie
0.8x36.6%€3.5b
Z94 Filo
30.5x3.1%€4.3b

Price-To-Book vs Peers: Z94 is expensive based on its Price-To-Book Ratio (30.5x) compared to the peer average (11.1x).

Price to Book Ratio vs Industry

How does Z94's PB Ratio compare vs other companies in the European Metals and Mining Industry?

20 CompaniesPrice / BookEstimated GrowthMarket Cap
Z94 30.5xIndustry Avg. 0.9xNo. of Companies29PB00.61.21.82.43+
20 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: Z94 is expensive based on its Price-To-Book Ratio (30.5x) compared to the European Metals and Mining industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is Z94's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Z94 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio30.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate Z94's Price-To-Book Fair Ratio for valuation analysis.

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 Z94 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€20.80
€21.90
+5.3%
0.8%€21.95€21.34n/a11
Dec ’25€21.10
€22.21
+5.3%
0.8%€22.27€21.65n/a11
Nov ’25€20.60
€21.86
+6.1%
1.8%€21.99€20.63n/a11
Oct ’25€20.80
€21.87
+5.1%
1.9%€22.00€20.65n/a10
Sep ’25€20.70
€21.76
+5.1%
2.2%€22.49€20.48n/a10
Aug ’25€21.30
€22.92
+7.6%
7.5%€26.72€21.38n/a10
Jul ’25€16.58
€23.98
+44.6%
12.9%€31.90€19.69n/a13
Jun ’25€16.74
€23.21
+38.6%
13.0%€31.73€19.58n/a13
May ’25€16.90
€22.86
+35.3%
15.8%€32.09€17.75n/a12
Apr ’25€15.80
€21.47
+35.9%
11.8%€26.18€17.68n/a12
Mar ’25€14.50
€21.42
+47.8%
12.8%€26.35€16.88n/a12
Feb ’25€13.80
€21.34
+54.6%
12.8%€26.24€16.81n/a12
Jan ’25€14.40
€20.69
+43.7%
15.6%€26.22€16.34€20.6012
Dec ’24€13.40
€20.44
+52.5%
14.7%€25.05€16.25€21.1012
Nov ’24€11.90
€21.26
+78.6%
13.5%€25.48€16.53€20.6011
Oct ’24€14.00
€22.03
+57.4%
13.8%€27.22€16.33€20.8012
Sep ’24€14.20
€22.03
+55.1%
13.8%€27.22€16.33€20.7012
Aug ’24€16.55
€21.83
+31.9%
13.9%€26.97€16.18€21.3012
Jul ’24€17.15
€22.59
+31.7%
14.4%€27.91€16.75€16.5812
Jun ’24€15.60
€21.91
+40.4%
15.1%€27.64€16.58€16.7412
May ’24€14.96
€21.57
+44.2%
15.6%€27.07€16.24€16.9012
Apr ’24€15.32
€21.16
+38.1%
16.3%€27.20€15.64€15.8012
Mar ’24€14.76
€21.46
+45.4%
15.2%€27.82€15.99€14.5011
Feb ’24€16.74
€21.17
+26.5%
15.3%€27.56€15.85€13.8011
Jan ’24€16.04
€18.26
+13.9%
15.3%€22.44€12.77€14.4011

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 05:08
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Filo Corp. is covered by 18 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David GaglianoBMO Capital Markets Equity Research
Bryce AdamsCIBC Capital Markets
Anita SoniCIBC Capital Markets