Leslie's, Inc.

DB:LE3 Stock Report

Market Cap: €566.5m

Leslie's Valuation

Is LE3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 LE3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: LE3 (€2.62) is trading above our estimate of fair value (€0.37)

Significantly Below Fair Value: LE3 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LE3?

Key metric: As LE3 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for LE3. This is calculated by dividing LE3's market cap by their current revenue.
What is LE3's PS Ratio?
PS Ratio0.4x
SalesUS$1.36b
Market CapUS$589.87m

Price to Sales Ratio vs Peers

How does LE3's PS Ratio compare to its peers?

The above table shows the PS ratio for LE3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.6x
DOU Douglas
0.4x6.2%€2.0b
FIE Fielmann Group
1.6x6.7%€3.4b
MRX Mister Spex
0.2x2.6%€51.1m
BIKE Bike24 Holding
0.2x6.5%€51.9m
LE3 Leslie's
0.4x3.4%€589.9m

Price-To-Sales vs Peers: LE3 is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does LE3's PS Ratio compare vs other companies in the DE Specialty Retail Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
CEC Ceconomy
0.06x1.1%US$1.52b
GFG Global Fashion Group
0.07x-0.5%US$54.23m
DEX Delticom
0.07x2.7%US$34.84m
49S Superdry
0.004x-1.4%US$3.12m
No more companies available in this PS range
LE3 0.4xIndustry Avg. 0.4xNo. of Companies5PS00.40.81.21.62+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: LE3 is expensive based on its Price-To-Sales Ratio (0.4x) compared to the European Specialty Retail industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is LE3'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.

LE3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio0.2x

Price-To-Sales vs Fair Ratio: LE3 is expensive based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.2x).

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 LE3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.62
€3.37
+28.5%
16.7%€3.82€2.15n/a10
Nov ’25€2.54
€3.26
+28.5%
16.7%€3.70€2.08n/a10
Oct ’25€2.74
€3.19
+16.5%
17.3%€3.76€2.01n/a10
Sep ’25€2.40
€3.19
+33.0%
17.3%€3.76€2.01n/a10
Aug ’25€2.78
€3.85
+38.4%
25.0%€5.54€2.31n/a10
Jul ’25€3.86
€5.39
+39.6%
9.9%€6.47€4.62n/a11
Jun ’25€5.15
€5.39
+4.6%
9.9%€6.47€4.62n/a11
May ’25€3.76
€6.12
+62.7%
17.2%€8.39€4.66n/a11
Apr ’25€6.20
€6.26
+0.9%
16.2%€8.28€4.60n/a11
Mar ’25€7.20
€6.11
-15.2%
16.6%€8.35€4.64n/a10
Feb ’25€6.20
€5.60
-9.6%
12.2%€6.44€4.60n/a10
Jan ’25€6.30
€5.37
-14.8%
12.6%€6.38€4.56n/a10
Dec ’24€4.38
€5.52
+26.0%
14.8%€7.29€4.56n/a9
Nov ’24€4.60
€7.37
+60.2%
23.7%€11.41€5.71€2.5410
Oct ’24€5.10
€7.17
+40.6%
22.4%€10.96€5.48€2.7410
Sep ’24€5.70
€7.17
+25.8%
22.4%€10.96€5.48€2.4010
Aug ’24€5.70
€8.02
+40.6%
39.0%€14.25€5.34€2.7811
Jul ’24€8.75
€12.75
+45.7%
15.7%€16.39€10.02€3.8612
Jun ’24€8.75
€12.75
+45.7%
15.7%€16.39€10.02€5.1512
May ’24€9.45
€14.48
+53.3%
14.8%€18.15€10.89€3.7612
Apr ’24€9.65
€15.57
+61.4%
10.1%€18.64€13.05€6.2012
Mar ’24€11.70
€15.57
+33.1%
10.1%€18.64€13.05€7.2012
Feb ’24€14.00
€14.56
+4.0%
12.0%€18.21€12.74€6.2012
Jan ’24€11.20
€15.07
+34.5%
12.0%€18.84€13.19€6.3012
Dec ’23€13.80
€15.91
+15.3%
16.9%€23.75€13.30€4.3812
Nov ’23€13.90
€18.18
+30.8%
20.7%€26.78€13.89€4.6012

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

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