Portland General Electric Company

DB:49P Stock Report

Market Cap: €4.8b

Portland General Electric Valuation

Is 49P 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 49P when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 49P (€45.4) is trading below our estimate of fair value (€164.21)

Significantly Below Fair Value: 49P is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 49P?

Key metric: As 49P is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 49P. This is calculated by dividing 49P's market cap by their current earnings.
What is 49P's PE Ratio?
PE Ratio14.6x
EarningsUS$343.00m
Market CapUS$5.02b

Price to Earnings Ratio vs Peers

How does 49P's PE Ratio compare to its peers?

The above table shows the PE ratio for 49P vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.1x
LEC Lechwerke
25.9xn/a€2.5b
EBK EnBW Energie Baden-Württemberg
28.5xn/a€17.1b
MNV6 Mainova
33.7xn/a€1.9b
MVV1 MVV Energie
12.3xn/a€2.0b
49P Portland General Electric
14.6x7.4%€5.0b

Price-To-Earnings vs Peers: 49P is good value based on its Price-To-Earnings Ratio (14.6x) compared to the peer average (25.1x).

Price to Earnings Ratio vs Industry

How does 49P's PE Ratio compare vs other companies in the European Electric Utilities Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
49P 14.6xIndustry Avg. 12.7xNo. of Companies10PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 49P is expensive based on its Price-To-Earnings Ratio (14.6x) compared to the European Electric Utilities industry average (12.7x).

Price to Earnings Ratio vs Fair Ratio

What is 49P'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.

49P PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.6x
Fair PE Ratio19.4x

Price-To-Earnings vs Fair Ratio: 49P is good value based on its Price-To-Earnings Ratio (14.6x) compared to the estimated Fair Price-To-Earnings Ratio (19.4x).

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 49P forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€45.40
€50.27
+10.7%
8.5%€57.62€44.17n/a13
Nov ’25€42.20
€48.54
+15.0%
8.6%€55.47€42.53n/a13
Oct ’25€42.40
€47.17
+11.3%
8.4%€53.91€41.33n/a13
Sep ’25€43.20
€47.36
+9.6%
8.3%€54.43€41.73n/a10
Aug ’25€44.20
€47.49
+7.4%
7.4%€55.43€42.50n/a10
Jul ’25€39.40
€45.48
+15.4%
10.4%€55.88€40.98n/a9
Jun ’25€39.40
€44.62
+13.3%
10.9%€55.21€40.02n/a9
May ’25€40.40
€45.22
+11.9%
11.6%€56.33€39.43n/a9
Apr ’25€38.60
€43.26
+12.1%
12.1%€54.94€38.46n/a10
Mar ’25€36.60
€43.57
+19.0%
12.2%€55.45€38.81n/a10
Feb ’25€38.00
€44.87
+18.1%
11.7%€55.34€39.66n/a10
Jan ’25€38.60
€43.80
+13.5%
11.3%€54.86€39.32n/a10
Dec ’24€37.00
€44.26
+19.6%
12.3%€56.27€37.51n/a10
Nov ’24€38.40
€45.04
+17.3%
12.5%€56.69€37.80€42.209
Oct ’24€37.80
€46.87
+24.0%
11.3%€57.70€39.73€42.409
Sep ’24€40.40
€46.71
+15.6%
9.9%€56.24€39.65€43.209
Aug ’24€43.00
€47.68
+10.9%
8.1%€55.47€43.65€44.207
Jul ’24€42.60
€48.12
+12.9%
7.3%€54.62€43.69€39.407
Jun ’24€45.00
€49.08
+9.1%
6.9%€54.53€43.63€39.407
May ’24€45.60
€48.70
+6.8%
7.3%€54.45€43.56€40.406
Apr ’24€44.60
€48.95
+9.7%
7.2%€55.76€44.61€38.606
Mar ’24€43.60
€48.43
+11.1%
8.0%€56.35€44.14€36.607
Feb ’24€43.40
€46.80
+7.8%
7.4%€52.46€41.41€38.007
Jan ’24€45.80
€46.00
+0.4%
9.1%€54.29€42.12€38.607
Dec ’23€46.40
€47.35
+2.0%
8.4%€55.76€43.26€37.008
Nov ’23€44.60
€49.82
+11.7%
8.6%€58.71€45.55€38.409

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

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