Docebo Inc.

DB:061 Stock Report

Market Cap: €1.4b

Docebo Valuation

Is 061 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-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 061 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 061 (€47) is trading below our estimate of fair value (€53.19)

Significantly Below Fair Value: 061 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 061?

Key metric: As 061 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 061. This is calculated by dividing 061's market cap by their current earnings.
What is 061's PE Ratio?
PE Ratio82.2x
EarningsUS$18.05m
Market CapUS$1.48b

Price to Earnings Ratio vs Peers

How does 061's PE Ratio compare to its peers?

The above table shows the PE ratio for 061 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.9x
AOF ATOSS Software
43.4x7.8%€1.9b
TMV TeamViewer
15x11.1%€1.8b
MUM Mensch und Maschine Software
28.1x14.0%€897.2m
FAA Fabasoft
21.2x3.3%€195.2m
061 Docebo
82.2x38.7%€2.1b

Price-To-Earnings vs Peers: 061 is expensive based on its Price-To-Earnings Ratio (82.2x) compared to the peer average (26.9x).

Price to Earnings Ratio vs Industry

How does 061's PE Ratio compare vs other companies in the European Software Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
061 82.2xIndustry Avg. 28.1xNo. of Companies19PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 061 is expensive based on its Price-To-Earnings Ratio (82.2x) compared to the European Software industry average (28.1x).

Price to Earnings Ratio vs Fair Ratio

What is 061'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.

061 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio82.2x
Fair PE Ratio29.6x

Price-To-Earnings vs Fair Ratio: 061 is expensive based on its Price-To-Earnings Ratio (82.2x) compared to the estimated Fair Price-To-Earnings Ratio (29.6x).

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 061 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€47.00
€51.02
+8.5%
6.0%€55.33€46.71n/a4
Nov ’25€44.35
€47.93
+8.1%
4.5%€50.26€45.34n/a4
Oct ’25€39.25
€44.16
+12.5%
15.1%€49.64€31.42n/a5
Sep ’25€38.85
€44.76
+15.2%
14.9%€50.16€31.98n/a5
Aug ’25€34.95
€44.26
+26.6%
15.0%€50.26€32.23n/a5
Jul ’25€35.35
€44.73
+26.5%
15.0%€50.81€32.57n/a5
Jun ’25€31.40
€44.73
+42.5%
15.0%€50.81€32.57n/a5
May ’25€41.80
€52.21
+24.9%
19.3%€68.16€38.12n/a5
Apr ’25€45.00
€51.59
+14.6%
19.9%€68.18€37.51n/a5
Mar ’25€49.40
€51.59
+4.4%
19.9%€68.18€37.51n/a5
Feb ’25€40.60
€48.83
+20.3%
21.5%€65.21€29.52n/a6
Jan ’25€44.20
€48.87
+10.6%
21.2%€64.71€29.61n/a6
Dec ’24€41.40
€48.20
+16.4%
20.7%€62.97€29.31n/a6
Nov ’24€36.60
€48.44
+32.4%
21.9%€62.57€27.55€44.356
Oct ’24n/a
€48.08
0%
22.1%€62.58€27.29€39.256
Sep ’24n/a
€46.90
0%
22.3%€61.35€26.59€38.856
Aug ’24n/a
€44.21
0%
24.7%€57.49€24.40€34.955
Jul ’24n/a
€46.62
0%
21.9%€58.45€25.49€35.356
Jun ’24n/a
€46.34
0%
20.3%€58.07€25.32€31.407
May ’24n/a
€49.64
0%
10.4%€60.53€44.93€41.806
Apr ’24n/a
€50.67
0%
9.9%€61.27€45.96€45.006
Mar ’24n/a
€50.16
0%
12.7%€61.82€41.57€49.406
Feb ’24n/a
€50.16
0%
12.7%€61.82€41.57€40.606
Jan ’24n/a
€51.14
0%
12.1%€62.09€42.48€44.206
Dec ’23n/a
€51.46
0%
16.3%€65.39€39.26€41.406
Nov ’23n/a
€57.64
0%
17.4%€71.47€39.97€36.606

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

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