APA Group

DB:PJZ Stock Report

Market Cap: €5.8b

APA Group Valuation

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

Below Fair Value: PJZ (€4.37) is trading below our estimate of fair value (€13.8)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PJZ. This is calculated by dividing PJZ's market cap by their current earnings.
What is PJZ's PE Ratio?
PE Ratio9.6x
EarningsAU$978.00m
Market CapAU$9.36b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PJZ 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
25.8xn/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
PJZ APA Group
9.6x-25.4%€9.4b

Price-To-Earnings vs Peers: PJZ is good value based on its Price-To-Earnings Ratio (9.6x) compared to the peer average (25.1x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PJZ 9.6xIndustry Avg. 14.3xNo. of Companies16PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PJZ is good value based on its Price-To-Earnings Ratio (9.6x) compared to the Global Gas Utilities industry average (14.3x).

Price to Earnings Ratio vs Fair Ratio

What is PJZ'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.

PJZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.6x
Fair PE Ratio13.2x

Price-To-Earnings vs Fair Ratio: PJZ is good value based on its Price-To-Earnings Ratio (9.6x) compared to the estimated Fair Price-To-Earnings Ratio (13.2x).

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 PJZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.37
€5.13
+17.5%
9.0%€5.70€4.05n/a11
Nov ’25€4.07
€5.16
+26.9%
8.9%€5.73€4.07n/a11
Oct ’25€4.71
€5.16
+9.6%
6.4%€5.68€4.52n/a12
Sep ’25€4.52
€5.20
+15.0%
6.4%€5.71€4.54n/a12
Aug ’25€4.66
€5.37
+15.2%
7.0%€5.97€4.49n/a12
Jul ’25€4.84
€5.41
+11.8%
6.9%€6.01€4.54n/a12
Jun ’25€4.97
€5.41
+8.8%
6.9%€6.01€4.54n/a12
May ’25€4.96
€5.41
+9.2%
6.9%€6.01€4.54n/a12
Apr ’25€4.96
€5.41
+9.0%
7.4%€5.97€4.51n/a12
Mar ’25€4.64
€5.37
+15.7%
7.4%€5.97€4.51n/a12
Feb ’25€5.01
€5.49
+9.5%
7.0%€6.03€4.57n/a11
Jan ’25€5.17
€5.54
+7.3%
6.8%€6.12€4.63n/a11
Dec ’24€5.09
€5.47
+7.6%
7.7%€6.21€4.51n/a11
Nov ’24€4.87
€5.76
+18.3%
6.1%€6.49€5.25€4.0711
Oct ’24€5.03
€5.85
+16.3%
6.1%€6.49€5.25€4.7110
Sep ’24€5.16
€5.85
+13.3%
6.1%€6.49€5.25€4.5210
Aug ’24€5.94
€6.50
+9.5%
5.6%€7.24€5.96€4.6612
Jul ’24€5.84
€6.60
+13.0%
5.9%€7.36€6.06€4.8414
Jun ’24€6.04
€6.51
+7.7%
6.0%€7.29€6.00€4.9713
May ’24€6.03
€6.56
+8.7%
6.1%€7.35€6.06€4.9612
Apr ’24€6.13
€6.66
+8.7%
6.8%€7.51€5.99€4.9613
Mar ’24€6.67
€6.85
+2.7%
6.7%€7.71€6.15€4.6413
Feb ’24€6.79
€6.83
+0.5%
6.7%€7.77€6.15€5.0113
Jan ’24€6.57
€6.65
+1.2%
7.0%€7.60€5.86€5.1713
Dec ’23€7.20
€6.78
-5.7%
6.8%€7.77€6.00€5.0913
Nov ’23€6.73
€6.75
+0.3%
6.3%€7.68€6.12€4.8712

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

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