Avnet, Inc.

DB:VNI Stock Report

Market Cap: €4.4b

Avnet Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: VNI (€49.6) is trading below our estimate of fair value (€1026.58)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VNI. This is calculated by dividing VNI's market cap by their current earnings.
What is VNI's PE Ratio?
PE Ratio13.2x
EarningsUS$348.39m
Market CapUS$4.61b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VNI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average38.3x
JEN Jenoptik
14.5x13.3%€1.2b
S9I Stemmer Imaging
29x16.4%€349.7m
NSIT Insight Enterprises
15.9x11.9%US$4.8b
000062 Shenzhen Huaqiang Industry
93.8xn/aCN¥30.3b
VNI Avnet
13.2x20.9%€4.6b

Price-To-Earnings vs Peers: VNI is good value based on its Price-To-Earnings Ratio (13.2x) compared to the peer average (38.3x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VNI 13.2xIndustry Avg. 18.0xNo. of Companies17PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VNI is good value based on its Price-To-Earnings Ratio (13.2x) compared to the European Electronic industry average (18x).

Price to Earnings Ratio vs Fair Ratio

What is VNI'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.

VNI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.2x
Fair PE Ratio15.1x

Price-To-Earnings vs Fair Ratio: VNI is good value based on its Price-To-Earnings Ratio (13.2x) compared to the estimated Fair Price-To-Earnings Ratio (15.1x).

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 VNI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€49.60
€49.61
+0.02%
12.3%€58.58€41.19n/a5
Nov ’25€49.60
€49.65
+0.1%
12.2%€58.84€41.37n/a5
Oct ’25€48.60
€48.54
-0.1%
12.7%€58.62€41.22n/a6
Sep ’25€49.40
€48.54
-1.7%
12.7%€58.62€41.22n/a6
Aug ’25€49.60
€45.40
-8.5%
11.7%€52.99€37.19n/a6
Jul ’25€47.80
€45.40
-5.0%
11.7%€52.99€37.19n/a6
Jun ’25€50.00
€45.40
-9.2%
11.7%€52.99€37.19n/a6
May ’25€46.60
€45.09
-3.2%
10.2%€53.31€37.41n/a7
Apr ’25€45.60
€44.53
-2.3%
10.8%€52.80€37.05n/a7
Mar ’25€43.00
€44.53
+3.6%
10.8%€52.80€37.05n/a7
Feb ’25€42.00
€44.88
+6.9%
11.8%€52.44€36.80n/a7
Jan ’25€45.80
€46.45
+1.4%
10.9%€52.95€37.16n/a6
Dec ’24€42.80
€46.81
+9.4%
10.2%€53.67€37.66n/a7
Nov ’24€46.40
€47.00
+1.3%
11.1%€53.94€37.85€49.606
Oct ’24€46.20
€45.72
-1.0%
10.2%€52.42€36.79€48.607
Sep ’24€46.80
€45.72
-2.3%
10.2%€52.42€36.79€49.407
Aug ’24€44.00
€43.13
-2.0%
12.9%€51.21€33.24€49.607
Jul ’24€45.60
€42.41
-7.0%
12.3%€51.75€33.59€47.807
Jun ’24€41.00
€42.41
+3.4%
12.3%€51.75€33.59€50.007
May ’24€36.80
€42.17
+14.6%
12.1%€51.61€34.41€46.607
Apr ’24€40.80
€43.77
+7.3%
11.8%€53.08€35.39€45.607
Mar ’24€42.20
€43.88
+4.0%
11.1%€52.80€35.20€43.008
Feb ’24€42.00
€41.76
-0.6%
12.7%€52.46€32.21€42.008
Jan ’24€39.00
€45.78
+17.4%
12.6%€57.99€35.61€45.808
Dec ’23€43.20
€45.78
+6.0%
12.6%€57.99€35.61€42.808
Nov ’23€40.60
€45.80
+12.8%
12.8%€57.70€35.43€46.408

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

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