Pepkor Holdings Limited

DB:S1VA Stock Report

Market Cap: €4.3b

Pepkor Holdings Valuation

Is S1VA 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-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 S1VA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: S1VA (€1.12) is trading below our estimate of fair value (€1.45)

Significantly Below Fair Value: S1VA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for S1VA?

Key metric: As S1VA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for S1VA. This is calculated by dividing S1VA's market cap by their current revenue.
What is S1VA's PS Ratio?
PS Ratio0.9x
SalesR91.15b
Market CapR82.84b

Price to Sales Ratio vs Peers

How does S1VA's PS Ratio compare to its peers?

The above table shows the PS ratio for S1VA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
ZAL Zalando
0.7x5.8%€7.1b
YOU About You Holding
0.3x7.7%€542.9m
FIE Fielmann Group
1.6x6.7%€3.4b
AG1 AUTO1 Group
0.4x8.1%€2.2b
S1VA Pepkor Holdings
0.9x5.1%€82.8b

Price-To-Sales vs Peers: S1VA is expensive based on its Price-To-Sales Ratio (0.9x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does S1VA's PS Ratio compare vs other companies in the DE Specialty Retail Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
CEC Ceconomy
0.07x1.1%US$1.57b
GFG Global Fashion Group
0.07x-0.5%US$57.65m
DEX Delticom
0.07x2.7%US$35.54m
49S Superdry
0.004x-1.4%US$3.12m
No more companies available in this PS range
S1VA 0.9xIndustry Avg. 0.4xNo. of Companies5PS00.40.81.21.62+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: S1VA is expensive based on its Price-To-Sales Ratio (0.9x) compared to the European Specialty Retail industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is S1VA'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.

S1VA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.9x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: S1VA is expensive based on its Price-To-Sales Ratio (0.9x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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 S1VA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.12
€1.15
+2.9%
4.6%€1.22€1.06n/a5
Nov ’25€1.14
€1.13
-0.6%
4.6%€1.20€1.04n/a5
Oct ’25€1.21
€1.06
-12.2%
6.0%€1.13€0.96n/a5
Sep ’25n/a
€1.06
0%
6.0%€1.13€0.96n/a5
Aug ’25€0.98
€1.07
+8.9%
10.6%€1.28€0.97n/a5
Jul ’25€0.95
€1.01
+5.9%
11.1%€1.23€0.93n/a5
Jun ’25€0.81
€1.00
+22.4%
13.5%€1.23€0.88n/a4
May ’25€0.84
€1.01
+20.7%
12.9%€1.22€0.88n/a4
Apr ’25€0.94
€0.99
+4.5%
9.2%€1.11€0.88n/a4
Mar ’25€0.85
€0.93
+8.9%
5.7%€1.00€0.86n/a4
Feb ’25€1.00
€1.05
+5.3%
21.5%€1.50€0.88n/a5
Jan ’25€0.92
€1.05
+14.4%
22.1%€1.51€0.89n/a5
Dec ’24€0.87
€1.05
+21.0%
22.1%€1.51€0.89n/a5
Nov ’24€0.82
€1.01
+22.9%
26.7%€1.53€0.77€1.145
Oct ’24€0.83
€0.99
+19.1%
22.1%€1.39€0.75€1.215
Sep ’24€0.77
€0.98
+27.7%
24.0%€1.40€0.69n/a5
Aug ’24€0.86
€0.98
+14.3%
24.0%€1.40€0.69€0.985
Jul ’24€0.78
€0.95
+22.0%
24.1%€1.35€0.66€0.955
Jun ’24€0.65
€0.95
+45.5%
24.1%€1.35€0.66€0.815
May ’24€0.81
€1.11
+36.5%
20.6%€1.55€0.90€0.845
Apr ’24€0.86
€1.19
+37.3%
18.7%€1.59€0.93€0.945
Mar ’24€0.94
€1.28
+35.7%
13.6%€1.59€1.14€0.855
Feb ’24€1.06
€1.38
+30.1%
13.5%€1.71€1.18€1.005
Jan ’24€1.10
€1.49
+35.5%
12.9%€1.82€1.25€0.925
Dec ’23€1.18
€1.49
+26.3%
12.9%€1.82€1.25€0.875
Nov ’23€1.24
€1.43
+15.0%
10.3%€1.62€1.21€0.824

Analyst Forecast: Target price is lower than the current share price.

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