ASGN Incorporated

DB:OA2 Stock Report

Market Cap: €3.8b

ASGN Valuation

Is OA2 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-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 OA2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OA2 (€85) is trading below our estimate of fair value (€96.23)

Significantly Below Fair Value: OA2 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 OA2?

Key metric: As OA2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for OA2. This is calculated by dividing OA2's market cap by their current earnings.
What is OA2's PE Ratio?
PE Ratio22x
EarningsUS$183.10m
Market CapUS$4.02b

Price to Earnings Ratio vs Peers

How does OA2's PE Ratio compare to its peers?

The above table shows the PE ratio for OA2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.3x
BC8 Bechtle
15.8x9.4%€4.0b
NA9 Nagarro
24.1x17.1%€1.3b
SANT Kontron
12.2x19.1%€1.0b
YSN secunet Security Networks
25.1x8.5%€693.5m
OA2 ASGN
22x11.3%€4.0b

Price-To-Earnings vs Peers: OA2 is expensive based on its Price-To-Earnings Ratio (22x) compared to the peer average (19.3x).

Price to Earnings Ratio vs Industry

How does OA2'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
OA2 22.0xIndustry Avg. 17.4xNo. of Companies4PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: OA2 is expensive based on its Price-To-Earnings Ratio (22x) compared to the European IT industry average (17.4x).

Price to Earnings Ratio vs Fair Ratio

What is OA2'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.

OA2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22x
Fair PE Ratio26.6x

Price-To-Earnings vs Fair Ratio: OA2 is good value based on its Price-To-Earnings Ratio (22x) compared to the estimated Fair Price-To-Earnings Ratio (26.6x).

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 OA2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€85.00
€93.95
+10.5%
14.6%€110.43€69.14n/a6
Nov ’25€84.00
€90.02
+7.2%
14.7%€106.54€66.70n/a6
Oct ’25€84.00
€87.19
+3.8%
15.5%€103.90€63.25n/a6
Sep ’25€86.50
€87.71
+1.4%
15.5%€106.02€64.53n/a7
Aug ’25€84.50
€87.71
+3.8%
15.5%€106.02€64.53n/a7
Jul ’25€80.00
€87.63
+9.5%
17.3%€107.20€65.25n/a7
Jun ’25€86.00
€87.63
+1.9%
17.3%€107.20€65.25n/a7
May ’25€90.00
€88.56
-1.6%
16.3%€107.20€65.25n/a8
Apr ’25€97.00
€85.04
-12.3%
15.3%€101.32€64.48n/a8
Mar ’25€92.50
€87.71
-5.2%
15.5%€103.94€64.96n/a9
Feb ’25€86.00
€85.49
-0.6%
16.0%€103.25€64.53n/a9
Jan ’25€87.50
€81.98
-6.3%
17.0%€102.74€64.21n/a8
Dec ’24€84.50
€78.14
-7.5%
12.9%€95.37€65.45n/a7
Nov ’24€78.50
€82.41
+5.0%
11.9%€96.61€66.30€84.007
Oct ’24€77.00
€80.35
+4.4%
12.5%€95.46€63.64€84.007
Sep ’24€76.00
€72.44
-4.7%
14.7%€84.36€54.43€86.507
Aug ’24€70.00
€72.44
+3.5%
14.7%€84.36€54.43€84.507
Jul ’24€69.00
€72.59
+5.2%
13.6%€86.86€56.04€80.007
Jun ’24€61.00
€73.42
+20.4%
16.1%€94.80€55.76€86.007
May ’24€64.50
€73.05
+13.3%
14.7%€92.57€59.90€90.006
Apr ’24€76.00
€91.29
+20.1%
10.9%€102.47€74.52€97.006
Mar ’24€82.00
€91.29
+11.3%
10.9%€102.47€74.52€92.506
Feb ’24€84.00
€92.04
+9.6%
10.9%€101.93€74.13€86.006
Jan ’24€77.50
€96.57
+24.6%
13.3%€116.07€76.11€87.506
Dec ’23€85.00
€102.17
+20.2%
13.1%€122.40€80.26€84.506
Nov ’23€86.00
€102.17
+18.8%
13.1%€122.40€80.26€78.506

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

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