Zhaojin Mining Industry Company Limited

DB:ZVL Stock Report

Market Cap: €4.7b

Zhaojin Mining Industry Valuation

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

Below Fair Value: ZVL (€1.36) is trading below our estimate of fair value (€2.87)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ZVL. This is calculated by dividing ZVL's market cap by their current earnings.
What is ZVL's PE Ratio?
PE Ratio30.1x
EarningsCN¥1.20b
Market CapCN¥36.19b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ZVL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.8x
NDA Aurubis
8.8x-6.2%€3.3b
FPE3 Fuchs
19.1x8.7%€5.1b
WCH Wacker Chemie
28x37.0%€3.5b
EVK Evonik Industries
35.4x33.1%€8.1b
ZVL Zhaojin Mining Industry
30.1x34.7%€38.9b

Price-To-Earnings vs Peers: ZVL is expensive based on its Price-To-Earnings Ratio (30.1x) compared to the peer average (22.8x).

Price to Earnings Ratio vs Industry

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

14 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ZVL 30.1xIndustry Avg. 11.1xNo. of Companies14PE0816243240+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ZVL is expensive based on its Price-To-Earnings Ratio (30.1x) compared to the European Metals and Mining industry average (11x).

Price to Earnings Ratio vs Fair Ratio

What is ZVL'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.

ZVL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30.1x
Fair PE Ratio29.5x

Price-To-Earnings vs Fair Ratio: ZVL is expensive based on its Price-To-Earnings Ratio (30.1x) compared to the estimated Fair Price-To-Earnings Ratio (29.5x).

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 ZVL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.36
€1.98
+45.6%
10.3%€2.31€1.69n/a8
Nov ’25€1.55
€1.95
+26.1%
10.2%€2.28€1.66n/a8
Oct ’25€1.64
€1.93
+17.6%
11.1%€2.23€1.63n/a8
Sep ’25€1.46
€1.89
+29.2%
11.0%€2.22€1.62n/a7
Aug ’25€1.65
€1.84
+11.6%
12.1%€2.21€1.61n/a7
Jul ’25€1.53
€1.77
+15.7%
6.3%€1.92€1.65n/a6
Jun ’25€1.60
€1.72
+7.7%
6.4%€1.89€1.62n/a6
May ’25€1.49
€1.69
+13.4%
5.5%€1.89€1.56n/a7
Apr ’25€1.22
€1.62
+32.4%
11.5%€2.07€1.43n/a9
Mar ’25€0.99
€1.59
+61.0%
12.9%€2.07€1.35n/a9
Feb ’25€0.84
€1.63
+92.7%
13.2%€2.06€1.34n/a8
Jan ’25€1.12
€1.58
+41.5%
13.4%€2.03€1.27n/a9
Dec ’24€1.16
€1.65
+41.8%
13.1%€2.08€1.32n/a9
Nov ’24€1.14
€1.65
+44.3%
13.1%€2.08€1.32€1.559
Oct ’24€1.29
€1.64
+27.4%
12.7%€2.07€1.31€1.648
Sep ’24€1.25
€1.60
+28.1%
12.1%€2.04€1.30€1.469
Aug ’24€1.27
€1.56
+22.8%
13.3%€2.03€1.33€1.658
Jul ’24€1.13
€1.57
+38.9%
14.5%€2.08€1.33€1.538
Jun ’24€1.33
€1.51
+13.9%
23.4%€2.12€0.89€1.607
May ’24€1.42
€1.40
-1.1%
19.3%€1.74€0.88€1.496
Apr ’24€1.36
€1.14
-16.0%
16.7%€1.40€0.90€1.226
Mar ’24€0.99
€1.05
+5.9%
14.0%€1.22€0.84€0.996
Feb ’24€1.06
€1.06
+0.1%
13.3%€1.23€0.85€0.846
Jan ’24€1.03
€1.00
-3.0%
15.9%€1.21€0.82€1.126
Dec ’23€1.10
€0.95
-13.6%
15.3%€1.22€0.82€1.165
Nov ’23€0.84
€1.01
+19.6%
19.2%€1.42€0.84€1.146

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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