PAX Global Technology Limited

DB:P8X Stock Report

Market Cap: €636.5m

PAX Global Technology Valuation

Is P8X undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 P8X when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: P8X (€0.53) is trading below our estimate of fair value (€0.59)

Significantly Below Fair Value: P8X 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 P8X?

Key metric: As P8X is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for P8X. This is calculated by dividing P8X's market cap by their current earnings.
What is P8X's PE Ratio?
PE Ratio5.4x
EarningsHK$959.10m
Market CapHK$5.16b

Price to Earnings Ratio vs Peers

How does P8X's PE Ratio compare to its peers?

The above table shows the PE ratio for P8X vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
S9I Stemmer Imaging
42.2x37.2%€344.5m
JEN Jenoptik
14.2x12.3%€1.2b
M7U Nynomic
12.2x17.5%€115.4m
FEV FORTEC Elektronik
11.5x14.2%€60.8m
P8X PAX Global Technology
5.4x14.3%€5.2b

Price-To-Earnings vs Peers: P8X is good value based on its Price-To-Earnings Ratio (5.4x) compared to the peer average (20x).

Price to Earnings Ratio vs Industry

How does P8X's PE Ratio compare vs other companies in the European Electronic Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
P8X 5.4xIndustry Avg. 17.8xNo. of Companies18PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: P8X is good value based on its Price-To-Earnings Ratio (5.4x) compared to the European Electronic industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is P8X'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.

P8X PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.4x
Fair PE Ratio16.3x

Price-To-Earnings vs Fair Ratio: P8X is good value based on its Price-To-Earnings Ratio (5.4x) compared to the estimated Fair Price-To-Earnings Ratio (16.3x).

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 P8X forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.53
€0.74
+40.2%
4.4%€0.78€0.71n/a2
Nov ’25€0.56
€0.74
+33.7%
4.4%€0.78€0.71n/a2
Oct ’25€0.52
€0.74
+42.4%
4.4%€0.78€0.71n/a2
Sep ’25€0.47
€0.74
+59.2%
4.4%€0.78€0.71n/a2
Aug ’25€0.47
€1.06
+125.2%
4.4%€1.11€1.01n/a2
Jul ’25€0.59
€1.06
+79.7%
4.4%€1.11€1.01n/a2
Jun ’25€0.76
€1.06
+39.7%
4.4%€1.11€1.01n/a2
May ’25€0.74
€1.06
+42.5%
4.4%€1.11€1.01n/a2
Apr ’25€0.69
€1.04
+50.1%
4.5%€1.10€1.00n/a3
Mar ’25€0.68
€1.04
+53.9%
4.5%€1.10€1.00n/a3
Feb ’25€0.61
€1.04
+68.9%
4.5%€1.10€1.00n/a3
Jan ’25€0.66
€1.04
+56.9%
4.5%€1.10€1.00n/a3
Dec ’24€0.64
€1.04
+62.1%
4.5%€1.10€1.00n/a3
Nov ’24€0.63
€1.04
+66.2%
4.5%€1.10€1.00€0.563
Oct ’24€0.64
€1.04
+61.8%
4.5%€1.10€1.00€0.523
Sep ’24€0.67
€1.04
+55.5%
4.5%€1.10€1.00€0.473
Aug ’24€0.72
€1.12
+55.4%
2.0%€1.15€1.10€0.473
Jul ’24€0.68
€1.12
+64.8%
2.0%€1.15€1.10€0.593
Jun ’24€0.77
€1.12
+45.9%
2.0%€1.15€1.10€0.763
May ’24€0.71
€1.12
+58.3%
2.0%€1.15€1.10€0.743
Apr ’24€0.74
€1.12
+51.7%
2.0%€1.15€1.10€0.693
Mar ’24€0.82
€1.50
+83.2%
18.9%€1.79€1.22€0.682
Feb ’24€0.84
€1.50
+79.7%
18.9%€1.79€1.22€0.612
Jan ’24€0.78
€1.50
+92.2%
18.9%€1.79€1.22€0.662
Dec ’23€0.84
€1.52
+80.9%
16.4%€1.86€1.27€0.643
Nov ’23€0.79
€1.52
+93.3%
16.4%€1.86€1.27€0.633

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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