ePlus inc.

DB:MLE Stock Report

Market Cap: €2.1b

ePlus Valuation

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

Below Fair Value: MLE (€76) is trading above our estimate of fair value (€51.77)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MLE. This is calculated by dividing MLE's market cap by their current earnings.
What is MLE's PE Ratio?
PE Ratio20.3x
EarningsUS$107.91m
Market CapUS$2.19b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MLE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.7x
JEN Jenoptik
14.2x12.3%€1.2b
S9I Stemmer Imaging
42.2x37.2%€344.5m
3132 Macnica Holdings
8.6x11.5%JP¥320.2b
001287 Shenzhen CECport Technologies
53.9xn/aCN¥14.8b
MLE ePlus
20.3x12.3%€2.2b

Price-To-Earnings vs Peers: MLE is good value based on its Price-To-Earnings Ratio (20.3x) compared to the peer average (29.7x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MLE 20.3xIndustry Avg. 17.8xNo. of Companies18PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MLE is expensive based on its Price-To-Earnings Ratio (20.3x) compared to the European Electronic industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is MLE'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.

MLE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.3x
Fair PE Ratio12.9x

Price-To-Earnings vs Fair Ratio: MLE is expensive based on its Price-To-Earnings Ratio (20.3x) compared to the estimated Fair Price-To-Earnings Ratio (12.9x).

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 MLE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€76.00
€84.76
+11.5%
5.0%€89.02€80.50n/a2
Nov ’25€81.00
€87.89
+8.5%
6.3%€93.38€82.40n/a2
Oct ’25€87.50
€87.89
+0.4%
6.3%€93.38€82.40n/a2
Sep ’25€85.00
€87.89
+3.4%
6.3%€93.38€82.40n/a2
Aug ’25€84.50
€88.11
+4.3%
6.3%€93.62€82.60n/a2
May ’25€72.50
€78.01
+7.6%
3.6%€80.83€75.19n/a2
Apr ’25€72.00
€72.41
+0.6%
10.3%€79.83€64.98n/a2
Mar ’25€75.50
€72.41
-4.1%
10.3%€79.83€64.98n/a2
Feb ’25€69.50
€72.59
+4.5%
5.1%€76.27€68.92n/a2
Jan ’25€72.50
€69.10
-4.7%
12.2%€77.51€60.70n/a2
Dec ’24€57.50
€69.10
+20.2%
12.2%€77.51€60.70n/a2
Nov ’24€59.50
€69.34
+16.5%
14.5%€79.38€59.31€81.002
Oct ’24€60.50
€69.34
+14.6%
14.5%€79.38€59.31€87.502
Sep ’24€60.50
€69.34
+14.6%
14.5%€79.38€59.31€85.002
Aug ’24€50.00
€60.18
+20.4%
14.7%€69.05€51.32€84.502
Jul ’24€51.50
€60.18
+16.9%
14.7%€69.05€51.32€68.002
Jun ’24€45.80
€60.18
+31.4%
14.7%€69.05€51.32€67.502
May ’24€39.20
€58.34
+48.8%
12.0%€65.34€51.34€72.502
Apr ’24€43.40
€58.34
+34.4%
12.0%€65.34€51.34€72.002
Mar ’24€50.50
€58.34
+15.5%
12.0%€65.34€51.34€75.502
Feb ’24€45.20
€56.18
+24.3%
13.8%€63.93€48.44€69.502
Jan ’24€40.80
€56.18
+37.7%
13.8%€63.93€48.44€72.502
Dec ’23€47.20
€56.18
+19.0%
13.8%€63.93€48.44€57.502
Nov ’23€49.00
€62.40
+27.3%
18.7%€74.07€50.73€59.502

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

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