Ipsos SA

DB:IPZ Stock Report

Market Cap: €2.0b

Ipsos Valuation

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

Below Fair Value: IPZ (€44.7) is trading below our estimate of fair value (€105.58)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for IPZ. This is calculated by dividing IPZ's market cap by their current earnings.
What is IPZ's PE Ratio?
PE Ratio10.8x
Earnings€181.33m
Market Cap€1.96b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for IPZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.2x
SAX Ströer SE KGaA
25.1x29.1%€2.7b
M8G Verve Group
14.8x21.0%€757.5m
SYZ SYZYGY
15.7x22.0%€38.1m
RRTL RTL Group
9.2x-3.8%€3.7b
IPZ Ipsos
10.8x10.2%€2.0b

Price-To-Earnings vs Peers: IPZ is good value based on its Price-To-Earnings Ratio (10.8x) compared to the peer average (16.2x).

Price to Earnings Ratio vs Industry

How does IPZ's PE Ratio compare vs other companies in the European Media Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
IPZ 10.8xIndustry Avg. 12.2xNo. of Companies16PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IPZ is good value based on its Price-To-Earnings Ratio (10.8x) compared to the European Media industry average (12.3x).

Price to Earnings Ratio vs Fair Ratio

What is IPZ'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.

IPZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.8x
Fair PE Ratio16.9x

Price-To-Earnings vs Fair Ratio: IPZ is good value based on its Price-To-Earnings Ratio (10.8x) compared to the estimated Fair Price-To-Earnings Ratio (16.9x).

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 IPZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€44.70
€68.39
+53.0%
7.8%€79.00€62.00n/a8
Nov ’25€45.00
€68.39
+52.0%
7.8%€79.00€62.00n/a8
Oct ’25€56.40
€76.57
+35.8%
9.4%€87.00€68.00n/a7
Sep ’25€55.50
€76.57
+38.0%
9.4%€87.00€68.00n/a7
Aug ’25€57.75
€75.75
+31.2%
9.3%€87.00€68.00n/a8
Jul ’25€57.90
€76.88
+32.8%
8.7%€89.00€69.00n/a8
Jun ’25€65.75
€76.88
+16.9%
8.7%€89.00€69.00n/a8
May ’25€63.10
€75.14
+19.1%
6.9%€85.00€69.00n/a7
Apr ’25€65.30
€73.71
+12.9%
6.0%€80.00€69.00n/a7
Mar ’25€64.65
€73.71
+14.0%
6.0%€80.00€69.00n/a7
Feb ’25€60.45
€66.57
+10.1%
10.5%€80.00€59.00n/a7
Jan ’25€56.70
€64.57
+13.9%
7.7%€75.00€59.00n/a7
Dec ’24€49.52
€64.57
+30.4%
7.7%€75.00€59.00n/a7
Nov ’24€46.00
€64.57
+40.4%
7.7%€75.00€59.00€45.007
Oct ’24€42.18
€65.36
+54.9%
6.8%€75.00€60.00€56.407
Sep ’24€46.18
€65.64
+42.1%
6.5%€75.00€61.00€55.507
Aug ’24€45.34
€65.64
+44.8%
6.5%€75.00€61.00€57.757
Jul ’24€50.45
€67.03
+32.9%
6.9%€75.00€61.00€57.907
Jun ’24€45.94
€67.57
+47.1%
6.7%€75.00€61.00€65.757
May ’24€49.42
€68.29
+38.2%
5.7%€75.00€61.00€63.107
Apr ’24€57.40
€68.00
+18.5%
2.2%€70.00€66.00€65.306
Mar ’24€58.20
€65.33
+12.3%
7.2%€70.00€59.00€64.656
Feb ’24€59.50
€65.00
+9.2%
7.2%€70.00€59.00€60.456
Jan ’24€58.10
€63.33
+9.0%
6.9%€70.00€59.00€56.706
Dec ’23€55.10
€61.67
+11.9%
5.4%€68.00€59.00€49.526
Nov ’23€49.30
€60.83
+23.4%
5.3%€68.00€59.00€46.006

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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