Keyence Corporation

DB:KEE Stock Report

Market Cap: €95.8b

Keyence Valuation

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

Below Fair Value: KEE (€395.6) is trading above our estimate of fair value (€211.25)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KEE. This is calculated by dividing KEE's market cap by their current earnings.
What is KEE's PE Ratio?
PE Ratio41.1x
EarningsJP¥380.32b
Market CapJP¥15.63t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KEE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.9x
JEN Jenoptik
15x12.3%€1.3b
S9I Stemmer Imaging
43x37.2%€351.0m
M7U Nynomic
12.3x17.5%€116.7m
002415 Hangzhou Hikvision Digital Technology
21.3x16.7%CN¥286.6b
KEE Keyence
41.1x10.5%€15.6t

Price-To-Earnings vs Peers: KEE is expensive based on its Price-To-Earnings Ratio (41.1x) compared to the peer average (22.9x).

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KEE 41.1xIndustry Avg. 18.6xNo. of Companies13PE01224364860+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KEE is expensive based on its Price-To-Earnings Ratio (41.1x) compared to the European Electronic industry average (19x).

Price to Earnings Ratio vs Fair Ratio

What is KEE'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.

KEE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio41.1x
Fair PE Ratio17.2x

Price-To-Earnings vs Fair Ratio: KEE is expensive based on its Price-To-Earnings Ratio (41.1x) compared to the estimated Fair Price-To-Earnings Ratio (17.2x).

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 KEE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€395.60
€496.45
+25.5%
13.2%€594.52€331.68n/a17
Dec ’25€405.30
€497.34
+22.7%
13.5%€594.31€331.56n/a16
Nov ’25€409.60
€476.78
+16.4%
13.8%€570.63€318.35n/a16
Oct ’25€430.50
€514.02
+19.4%
13.9%€638.64€338.48n/a15
Sep ’25€435.10
€491.77
+13.0%
14.7%€621.75€329.53n/a16
Aug ’25€384.80
€473.80
+23.1%
14.1%€575.98€317.99n/a16
Jul ’25€405.80
€460.29
+13.4%
14.6%€560.61€289.16n/a16
Jun ’25€411.50
€455.30
+10.6%
14.2%€560.37€289.03n/a16
May ’25€415.30
€449.96
+8.3%
13.9%€562.45€290.10n/a15
Apr ’25€425.50
€462.39
+8.7%
13.4%€555.48€299.10n/a16
Mar ’25€434.40
€458.87
+5.6%
13.0%€561.61€302.40n/a17
Feb ’25€419.00
€453.42
+8.2%
13.8%€564.01€307.07n/a17
Jan ’25€395.40
€453.42
+14.7%
13.8%€564.01€307.07n/a17
Dec ’24€388.80
€442.82
+13.9%
14.1%€554.43€301.86€405.3017
Nov ’24€369.10
€452.28
+22.5%
14.3%€568.69€309.62€409.6018
Oct ’24€354.50
€456.14
+28.7%
13.3%€538.05€310.17€430.5018
Sep ’24€381.80
€447.89
+17.3%
13.0%€520.96€307.55€435.1017
Aug ’24€389.00
€466.64
+20.0%
13.9%€533.62€315.03€384.8017
Jul ’24€428.30
€462.79
+8.1%
15.7%€575.10€274.77€405.8017
Jun ’24€462.30
€475.96
+3.0%
14.9%€586.91€286.78€411.5018
May ’24€415.00
€470.75
+13.4%
14.7%€596.18€291.31€415.3017
Apr ’24€441.30
€474.75
+7.6%
14.3%€606.07€296.15€425.5017
Mar ’24€411.50
€472.72
+14.9%
14.2%€606.06€296.14€434.4017
Feb ’24€417.40
€476.56
+14.2%
15.1%€621.79€303.83€419.0017
Jan ’24€361.70
€482.11
+33.3%
13.9%€612.18€306.09€395.4018
Dec ’23€404.30
€465.22
+15.1%
13.3%€591.06€295.53€388.8019

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 10:58
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/20
Annual Earnings2024/03/20

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 here.

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 .

Analyst Sources

Keyence Corporation is covered by 27 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christopher CintaveyBNP Paribas Securities (Asia)
Kenjin HottaBofA Global Research
Hazim BahariCFRA Equity Research