Splunk Inc.

DB:S0U Stock Report

Market Cap: €24.3b

Splunk Valuation

Is S0U 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 S0U when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: S0U (€143.08) is trading below our estimate of fair value (€367.48)

Significantly Below Fair Value: S0U is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for S0U?

Key metric: As S0U is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for S0U. This is calculated by dividing S0U's market cap by their current earnings.
What is S0U's PE Ratio?
PE Ratio100.3x
EarningsUS$263.73m
Market CapUS$26.44b

Price to Earnings Ratio vs Peers

How does S0U's PE Ratio compare to its peers?

The above table shows the PE ratio for S0U vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average55.1x
NEM Nemetschek
66.9x18.6%€11.5b
AOF ATOSS Software
43.2x7.8%€1.9b
SAP SAP
95.2x40.8%€256.6b
TMV TeamViewer
14.9x11.0%€1.8b
S0U Splunk
100.3x26.4%€26.4b

Price-To-Earnings vs Peers: S0U is expensive based on its Price-To-Earnings Ratio (100.3x) compared to the peer average (49x).

Price to Earnings Ratio vs Industry

How does S0U's PE Ratio compare vs other companies in the European Software Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
S0U 100.3xIndustry Avg. 28.8xNo. of Companies17PE020406080100+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: S0U is expensive based on its Price-To-Earnings Ratio (100.3x) compared to the European Software industry average (32.4x).

Price to Earnings Ratio vs Fair Ratio

What is S0U'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.

S0U PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio100.3x
Fair PE Ratio39.7x

Price-To-Earnings vs Fair Ratio: S0U is expensive based on its Price-To-Earnings Ratio (100.3x) compared to the estimated Fair Price-To-Earnings Ratio (39.7x).

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 S0U forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€144.78
0%
1.1%€149.49€140.27n/a18
Nov ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
Oct ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
Sep ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
Aug ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
Jul ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
Jun ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
May ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
Apr ’25n/a
€144.78
0%
1.1%€149.49€140.27n/a18
Mar ’25€144.46
€144.78
+0.2%
1.1%€149.49€140.27n/a18
Feb ’25€141.70
€141.97
+0.2%
6.2%€149.04€105.80n/a19
Jan ’25€137.16
€136.97
-0.1%
9.5%€147.10€103.51n/a20
Dec ’24€138.62
€137.04
-1.1%
9.4%€147.65€103.90n/a22
Nov ’24€139.30
€141.71
+1.7%
9.4%€153.32€107.89n/a23
Oct ’24€138.70
€139.48
+0.6%
10.1%€148.51€107.83n/a24
Sep ’24€113.66
€117.26
+3.2%
7.9%€138.66€97.06n/a35
Aug ’24€98.11
€108.74
+10.8%
9.7%€122.67€78.15n/a33
Jul ’24€97.83
€108.77
+11.2%
10.2%€123.21€78.49n/a33
Jun ’24€93.43
€111.03
+18.8%
10.2%€125.83€80.16n/a34
May ’24€78.20
€105.08
+34.4%
11.9%€136.13€78.05n/a33
Apr ’24€84.38
€108.47
+28.5%
14.0%€159.49€79.28n/a35
Mar ’24€96.57
€108.36
+12.2%
14.2%€163.09€81.07€144.4635
Feb ’24€87.41
€102.89
+17.7%
17.6%€159.30€78.29€141.7035
Jan ’24€80.58
€107.11
+32.9%
18.7%€164.83€81.00€137.1636
Dec ’23€82.99
€110.10
+32.7%
18.5%€166.25€81.70€138.6235
Nov ’23€83.79
€128.44
+53.3%
18.6%€193.37€87.07€139.3034

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

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