American States Water Company

DB:FDK Stock Report

Market Cap: €3.1b

American States Water Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: FDK (€81.3) is trading above our estimate of fair value (€59.8)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FDK. This is calculated by dividing FDK's market cap by their current earnings.
What is FDK's PE Ratio?
PE Ratio29.1x
EarningsUS$110.88m
Market CapUS$3.21b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FDK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.4x
FHW Fernheizwerk Neukölln
21.8xn/a€54.7m
LEC Lechwerke
25.8xn/a€2.5b
MNV6 Mainova
33.7xn/a€1.9b
MVV1 MVV Energie
12.3xn/a€2.0b
FDK American States Water
29.1x8.7%€3.2b

Price-To-Earnings vs Peers: FDK is expensive based on its Price-To-Earnings Ratio (29.1x) compared to the peer average (23.4x).

Price to Earnings Ratio vs Industry

How does FDK's PE Ratio compare vs other companies in the Global Water Utilities Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FDK 29.1xIndustry Avg. 17.8xNo. of Companies10PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FDK is expensive based on its Price-To-Earnings Ratio (29.1x) compared to the Global Water Utilities industry average (18x).

Price to Earnings Ratio vs Fair Ratio

What is FDK'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.

FDK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.1x
Fair PE Ratio19.3x

Price-To-Earnings vs Fair Ratio: FDK is expensive based on its Price-To-Earnings Ratio (29.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.3x).

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 FDK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€81.30
€83.02
+2.1%
4.0%€86.34€79.70n/a2
Nov ’25€74.50
€80.17
+7.6%
0.6%€80.63€79.71n/a2
Oct ’25€74.15
€80.17
+8.1%
0.6%€80.63€79.71n/a2
Sep ’25€73.30
€80.17
+9.4%
0.6%€80.63€79.71n/a2
Aug ’25€77.30
€79.88
+3.3%
0.6%€80.34€79.42n/a2
Jul ’25€67.10
€76.85
+14.5%
3.6%€79.63€74.07n/a2
Jun ’25€65.80
€76.85
+16.8%
3.6%€79.63€74.07n/a2
May ’25€66.25
€72.59
+9.6%
6.9%€79.36€67.36n/a3
Apr ’25€66.55
€73.15
+9.9%
5.3%€78.64€70.41n/a3
Mar ’25€65.60
€74.34
+13.3%
4.8%€79.26€70.96n/a3
Feb ’25€69.25
€78.33
+13.1%
8.1%€87.20€72.51n/a3
Jan ’25€72.90
€80.11
+9.9%
7.5%€87.14€72.47n/a3
Dec ’24€74.15
€79.38
+7.1%
7.6%€87.35€72.64n/a3
Nov ’24€74.25
€82.00
+10.4%
8.5%€89.89€72.86€74.503
Oct ’24€74.00
€83.89
+13.4%
3.4%€87.90€81.43€74.153
Sep ’24€78.25
€83.89
+7.2%
3.4%€87.90€81.43€73.303
Aug ’24€78.25
€84.16
+7.6%
7.8%€93.44€79.07€77.303
Jul ’24€79.20
€86.18
+8.8%
7.8%€95.69€80.97€67.103
Jun ’24€81.85
€87.15
+6.5%
9.6%€97.10€76.56€65.803
May ’24€80.20
€85.08
+6.1%
7.2%€94.38€78.05€66.254
Apr ’24€81.12
€87.21
+7.5%
8.2%€97.52€77.83€66.554
Mar ’24€81.42
€91.55
+12.4%
4.1%€96.82€88.45€65.603
Feb ’24€87.90
€86.65
-1.4%
7.1%€95.78€79.49€69.254
Jan ’24€87.58
€87.48
-0.1%
6.6%€97.34€80.79€72.905
Dec ’23€92.76
€87.65
-5.5%
6.7%€98.80€81.99€74.155
Nov ’23€90.56
€92.16
+1.8%
6.0%€101.36€86.62€74.254

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

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