Frasers Group Plc

DB:ZVX Stock Report

Market Cap: €3.2b

Frasers Group Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: ZVX (€7.56) is trading below our estimate of fair value (€10.08)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ZVX. This is calculated by dividing ZVX's market cap by their current earnings.
What is ZVX's PE Ratio?
PE Ratio8.5x
EarningsUK£310.10m
Market CapUK£2.62b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ZVX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.1x
FIE Fielmann Group
24.4x18.9%€3.4b
HBM HORNBACH Baumarkt
26xn/a€1.9b
CEC Ceconomy
16.5x35.8%€1.3b
ZAL Zalando
41.3x21.6%€8.4b
ZVX Frasers Group
8.5x13.2%€2.6b

Price-To-Earnings vs Peers: ZVX is good value based on its Price-To-Earnings Ratio (8.5x) compared to the peer average (27.1x).

Price to Earnings Ratio vs Industry

How does ZVX's PE Ratio compare vs other companies in the European Specialty Retail Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ZVX 8.5xIndustry Avg. 15.8xNo. of Companies12PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ZVX is good value based on its Price-To-Earnings Ratio (8.5x) compared to the European Specialty Retail industry average (15.5x).

Price to Earnings Ratio vs Fair Ratio

What is ZVX'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.

ZVX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.5x
Fair PE Ratio12.5x

Price-To-Earnings vs Fair Ratio: ZVX is good value based on its Price-To-Earnings Ratio (8.5x) compared to the estimated Fair Price-To-Earnings Ratio (12.5x).

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 ZVX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€7.56
€11.04
+46.1%
20.0%€14.48€8.15n/a7
Dec ’25€8.79
€12.82
+45.9%
10.5%€15.63€11.54n/a6
Nov ’25€8.96
€12.93
+44.3%
11.0%€15.58€11.50n/a5
Oct ’25€10.09
€13.40
+32.8%
11.8%€15.60€12.00n/a3
Sep ’25€10.21
€12.08
+18.3%
14.4%€15.35€9.03n/a7
Aug ’25€10.56
€12.08
+14.4%
14.4%€15.35€9.03n/a7
Jul ’25€10.35
€11.43
+10.4%
10.2%€12.80€9.03n/a6
Jun ’25€10.30
€10.62
+3.1%
19.0%€12.68€6.43n/a7
May ’25€9.51
€10.64
+12.0%
19.0%€12.71€6.44n/a7
Apr ’25€9.32
€10.79
+15.7%
19.8%€12.86€6.43n/a7
Mar ’25€9.37
€11.52
+23.0%
11.2%€12.87€8.95n/a6
Feb ’25€9.40
€11.56
+23.0%
11.2%€12.91€8.98n/a6
Jan ’25€10.48
€10.66
+1.7%
21.1%€12.83€6.42n/a7
Dec ’24€10.45
€9.94
-4.9%
20.9%€12.22€6.34€8.797
Nov ’24€9.18
€9.55
+4.1%
20.9%€12.10€6.34€8.966
Oct ’24€9.18
€9.80
+6.8%
22.4%€12.26€6.42€10.095
Sep ’24€9.34
€9.80
+5.0%
22.4%€12.26€6.42€10.215
Aug ’24€9.42
€9.80
+4.1%
22.4%€12.26€6.42€10.565
Jul ’24€7.98
€9.61
+20.5%
20.8%€12.29€6.44€10.356
Jun ’24€7.75
€9.92
+28.1%
23.6%€13.61€6.24€10.307
May ’24€8.61
€9.92
+15.3%
23.6%€13.61€6.24€9.517
Apr ’24€8.65
€9.92
+14.7%
23.6%€13.61€6.24€9.327
Mar ’24€9.00
€9.92
+10.3%
23.6%€13.61€6.24€9.377
Feb ’24€8.75
€9.90
+13.1%
24.4%€13.66€6.26€9.407
Jan ’24€8.00
€10.03
+25.3%
25.7%€13.98€6.41€10.487
Dec ’23€10.50
€8.24
-21.5%
21.8%€11.44€6.29€10.455

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 18:47
End of Day Share Price 2024/12/23 00:00
Earnings2024/10/27
Annual Earnings2024/04/28

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

Frasers Group Plc is covered by 28 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Richard TaylorBarclays
Michael BenedictBerenberg
Simon BowlerBNP Paribas Exane