Venture Corporation Limited

DB:VEM Stock Report

Market Cap: €2.6b

Venture Valuation

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

Below Fair Value: VEM (€9) is trading below our estimate of fair value (€11.71)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VEM. This is calculated by dividing VEM's market cap by their current earnings.
What is VEM's PE Ratio?
PE Ratio14.7x
EarningsS$253.67m
Market CapS$3.72b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VEM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.8x
DAM DATA MODUL Produktion und Vertrieb von elektronischen Systemen
12.7x15.3%€96.6m
JEN Jenoptik
14.1x12.3%€1.2b
S9I Stemmer Imaging
42.8x37.2%€349.7m
CCET Cal-Comp Electronics (Thailand)
41.5xn/a฿88.8b
VEM Venture
14.7x6.8%€3.7b

Price-To-Earnings vs Peers: VEM is good value based on its Price-To-Earnings Ratio (14.7x) compared to the peer average (28x).

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VEM 14.7xIndustry Avg. 17.5xNo. of Companies14PE01224364860+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VEM is good value based on its Price-To-Earnings Ratio (14.7x) compared to the European Electronic industry average (17.3x).

Price to Earnings Ratio vs Fair Ratio

What is VEM'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.

VEM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.7x
Fair PE Ratio10.7x

Price-To-Earnings vs Fair Ratio: VEM is expensive based on its Price-To-Earnings Ratio (14.7x) compared to the estimated Fair Price-To-Earnings Ratio (10.7x).

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 VEM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€9.00
€10.00
+11.2%
10.9%€11.63€7.77n/a13
Nov ’25€9.15
€10.26
+12.2%
9.6%€11.41€8.78n/a13
Oct ’25€9.70
€10.26
+5.8%
9.6%€11.41€8.78n/a13
Sep ’25€9.60
€10.26
+6.9%
9.6%€11.41€8.78n/a13
Aug ’25€10.70
€10.35
-3.2%
10.9%€12.35€8.72n/a13
Jul ’25€9.70
€10.18
+4.9%
10.8%€12.29€8.67n/a13
Jun ’25€9.55
€10.18
+6.6%
10.8%€12.29€8.67n/a13
May ’25€9.85
€10.26
+4.1%
11.6%€12.35€8.58n/a12
Apr ’25€9.75
€10.26
+5.2%
11.6%€12.35€8.58n/a12
Mar ’25€9.65
€10.26
+6.3%
11.6%€12.35€8.58n/a12
Feb ’25€9.40
€10.37
+10.3%
13.3%€13.77€8.61n/a12
Jan ’25€9.30
€10.18
+9.5%
13.8%€13.69€8.56n/a12
Dec ’24€8.90
€10.18
+14.4%
13.8%€13.69€8.56n/a12
Nov ’24€8.15
€11.03
+35.3%
16.6%€14.85€8.63€9.1512
Oct ’24€8.60
€10.84
+26.1%
16.1%€14.51€8.98€9.7012
Sep ’24€8.80
€10.84
+23.2%
16.1%€14.51€8.98€9.6012
Aug ’24€10.10
€12.06
+19.4%
14.2%€15.65€9.25€10.7012
Jul ’24€9.95
€12.55
+26.1%
11.6%€15.83€10.53€9.7012
Jun ’24€10.30
€12.63
+22.6%
11.9%€15.83€10.53€9.5512
May ’24€11.60
€13.54
+16.7%
10.1%€15.66€11.37€9.8513
Apr ’24€12.20
€14.09
+15.5%
9.5%€16.07€11.67€9.7513
Mar ’24€12.00
€14.09
+17.4%
9.5%€16.07€11.67€9.6513
Feb ’24€12.90
€14.46
+12.1%
9.8%€16.35€11.72€9.4013
Jan ’24€11.90
€14.48
+21.7%
9.9%€16.41€11.76€9.3013
Dec ’23€12.30
€14.48
+17.7%
9.9%€16.41€11.76€8.9013
Nov ’23€11.50
€14.81
+28.7%
9.3%€16.64€12.07€8.1513

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

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