Shimadzu Corporation

DB:HDZ Stock Report

Market Cap: €6.4b

Shimadzu Valuation

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

€18.31
Fair Value
13.6% overvalued intrinsic discount
10
Number of Analysts

Below Fair Value: HDZ (€20.8) is trading above our estimate of fair value (€18.37)

Significantly Below Fair Value: HDZ is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HDZ. This is calculated by dividing HDZ's market cap by their current earnings.
What is HDZ's PE Ratio?
PE Ratio21.7x
EarningsJP¥51.71b
Market CapJP¥1.12t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HDZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average44.5x
JEN Jenoptik
14.9x16.93%€1.1b
06H BPC Instruments
53xn/a€414.2m
S9I Stemmer Imaging
91.5x57.84%€383.5m
FEV FORTEC Elektronik
18.6x41.48%€43.4m
HDZ Shimadzu
21.7x6.68%€1.1t

Price-To-Earnings vs Peers: HDZ is good value based on its Price-To-Earnings Ratio (21.7x) compared to the peer average (44.5x).

Price to Earnings Ratio vs Industry

How does HDZ's PE Ratio compare vs other companies in the European Electronic Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HDZ 21.7xIndustry Avg. 25.4xNo. of Companies11PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HDZ is good value based on its Price-To-Earnings Ratio (21.7x) compared to the European Electronic industry average (25.4x).

Price to Earnings Ratio vs Fair Ratio

What is HDZ'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.

HDZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HDZ's Price-To-Earnings Fair Ratio for valuation analysis.

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 HDZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€20.80
€24.91
+19.74%
13.37%€31.65€19.22n/a10
Oct ’26€21.00
€25.43
+21.12%
13.42%€32.42€19.68n/a10
Sep ’26€20.20
€25.34
+25.46%
13.89%€32.52€19.75n/a10
Aug ’26€18.70
€25.68
+37.34%
15.43%€32.80€19.92n/a11
Jul ’26n/a
€27.23
0%
13.44%€33.68€23.46n/a11
Jun ’26n/a
€29.07
0%
14.74%€36.45€24.09n/a11
May ’26n/a
€29.58
0%
13.32%€36.12€23.88n/a11
Apr ’26n/a
€31.19
0%
11.77%€36.37€24.04n/a10
Mar ’26n/a
€31.90
0%
11.50%€36.91€24.40n/a10
Feb ’26n/a
€33.15
0%
8.69%€37.95€28.61n/a10
Jan ’26n/a
€33.10
0%
8.65%€38.14€28.76n/a10
Dec ’25n/a
€32.50
0%
8.81%€37.55€28.32n/a10
Nov ’25n/a
€32.19
0%
8.64%€36.78€28.20n/a9
Oct ’25n/a
€32.54
0%
7.93%€37.49€28.74€21.009
Sep ’25n/a
€31.81
0%
7.94%€37.11€28.45€20.209
Aug ’25n/a
€29.55
0%
9.01%€33.82€25.80€18.709
Jul ’25n/a
€30.36
0%
9.01%€34.75€26.50n/a9
Jun ’25n/a
€30.24
0%
9.63%€34.76€25.92n/a9
May ’25n/a
€31.60
0%
10.33%€36.56€27.26n/a9
Apr ’25n/a
€31.60
0%
10.33%€36.56€27.26n/a9
Mar ’25n/a
€32.43
0%
10.36%€36.52€27.24n/a9
Feb ’25n/a
€33.21
0%
9.18%€37.09€27.66n/a8
Jan ’25n/a
€32.89
0%
11.52%€37.47€27.94n/a7
Dec ’24n/a
€31.59
0%
9.20%€36.14€26.95n/a7
Nov ’24n/a
€32.86
0%
8.91%€37.37€27.87n/a8
Oct ’24n/a
€32.92
0%
9.53%€37.46€27.93n/a7
€23.5
Fair Value
11.5% undervalued intrinsic discount
10
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/12 06:39
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2025/03/31

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.

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 Github.

Analyst Sources

Shimadzu Corporation is covered by 25 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Masahiro NakanomyoBarclays
Ritsuo WatanabeBofA Global Research
Yang LuoCLSA