Bechtle AG

DB:BC8 Stock Report

Market Cap: €4.0b

Bechtle Valuation

Is BC8 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 BC8 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BC8 (€31.86) is trading below our estimate of fair value (€57.61)

Significantly Below Fair Value: BC8 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BC8?

Key metric: As BC8 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BC8. This is calculated by dividing BC8's market cap by their current earnings.
What is BC8's PE Ratio?
PE Ratio15.8x
Earnings€250.19m
Market Cap€3.96b

Price to Earnings Ratio vs Peers

How does BC8's PE Ratio compare to its peers?

The above table shows the PE ratio for BC8 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.8x
NA9 Nagarro
24.1x17.1%€1.3b
SANT Kontron
12.2x19.1%€1.0b
YSN secunet Security Networks
25.1x8.5%€693.5m
COK Cancom
17.8x1.1%€720.4m
BC8 Bechtle
15.8x9.4%€4.0b

Price-To-Earnings vs Peers: BC8 is good value based on its Price-To-Earnings Ratio (15.8x) compared to the peer average (19.8x).

Price to Earnings Ratio vs Industry

How does BC8's PE Ratio compare vs other companies in the DE IT Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
BC8 15.8xIndustry Avg. 17.4xNo. of Companies4PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BC8 is good value based on its Price-To-Earnings Ratio (15.8x) compared to the European IT industry average (17.7x).

Price to Earnings Ratio vs Fair Ratio

What is BC8'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.

BC8 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.8x
Fair PE Ratio26.3x

Price-To-Earnings vs Fair Ratio: BC8 is good value based on its Price-To-Earnings Ratio (15.8x) compared to the estimated Fair Price-To-Earnings Ratio (26.3x).

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 BC8 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€31.86
€43.24
+35.7%
20.6%€57.00€28.50n/a14
Nov ’25€31.50
€48.49
+53.9%
16.0%€59.00€33.00n/a13
Oct ’25€40.18
€50.57
+25.9%
13.1%€59.00€37.00n/a13
Sep ’25€38.94
€50.03
+28.5%
15.5%€63.00€37.00n/a14
Aug ’25€40.78
€50.31
+23.4%
15.0%€63.00€38.00n/a14
Jul ’25€40.66
€52.75
+29.7%
15.4%€63.00€38.00n/a14
Jun ’25€44.46
€53.75
+20.9%
12.5%€63.00€38.00n/a14
May ’25€45.28
€54.54
+20.4%
11.4%€64.00€40.00n/a14
Apr ’25€48.44
€54.25
+12.0%
11.3%€64.00€40.00n/a14
Mar ’25€47.82
€53.21
+11.3%
11.7%€64.00€40.00n/a14
Feb ’25€48.74
€52.69
+8.1%
11.9%€64.00€41.00n/a13
Jan ’25€45.40
€51.75
+14.0%
11.3%€59.00€41.00n/a13
Dec ’24€43.80
€51.75
+18.2%
11.3%€59.00€41.00n/a13
Nov ’24€42.23
€50.21
+18.9%
16.0%€60.00€37.00€31.5012
Oct ’24€44.27
€50.13
+13.2%
15.9%€60.00€37.00€40.1812
Sep ’24€44.93
€49.71
+10.6%
16.4%€60.00€36.00€38.9412
Aug ’24€39.38
€47.88
+21.6%
18.5%€60.00€35.00€40.7812
Jul ’24€36.10
€47.29
+31.0%
18.0%€60.00€35.00€40.6613
Jun ’24€36.85
€48.27
+31.0%
16.1%€60.00€36.00€44.4614
May ’24€41.36
€48.77
+17.9%
16.8%€61.00€36.00€45.2814
Apr ’24€44.01
€48.41
+10.0%
17.1%€61.00€34.00€48.4414
Mar ’24€40.52
€47.47
+17.2%
20.0%€66.00€29.00€47.8214
Feb ’24€39.16
€46.88
+19.7%
21.0%€66.00€29.00€48.7414
Jan ’24€33.00
€48.00
+45.5%
17.3%€66.00€36.00€45.4014
Dec ’23€36.48
€48.00
+31.6%
17.3%€66.00€36.00€43.8014
Nov ’23€35.86
€52.04
+45.1%
14.5%€66.00€40.00€42.2312

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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