Al Ezz Ceramics & Porcelain Valuation

Q: What is the Fair Price of ECAP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ECAP (EGP24.4) is trading above our estimate of [[fair value]] (EGP20.24)

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: ECAP (EGP24.4) is trading above our estimate of fair value (EGP20.24)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ECAP. This is calculated by dividing ECAP's market cap by their current earnings.
What is ECAP's PE Ratio?
PE Ratio	6.4x
Earnings	ج.م202.40m
Market Cap	ج.م1.30b

ECAP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.9x
Enterprise Value/EBITDA	4.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ECAP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	5.7x
LCSW Lecico Egypt (S.A.E.)	2.2x	n/a	ج.م2.1b
CERA Arab Ceramic	9.1x	n/a	ج.م656.9m
UEGC El-Saeed Company for Contracting and Real Estate Investment SCCD (S.A.E.)	5.3x	n/a	ج.م658.5m
ACRO Acrow Misr	6.1x	n/a	ج.م3.7b
ECAP Al Ezz Ceramics & Porcelain	6.4x	n/a	ج.م1.3b

Price-To-Earnings vs Peers: ECAP is expensive based on its Price-To-Earnings Ratio (6.4x) compared to the peer average (5.7x).

Price to Earnings Ratio vs Industry

How does ECAP's PE Ratio compare vs other companies in the Global Building Industry?

8 Companies	Price / Earnings	Estimated Growth	Market Cap

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ECAP is good value based on its Price-To-Earnings Ratio (6.4x) compared to the Global Building industry average (18.1x).

Price to Earnings Ratio vs Fair Ratio

What is ECAP'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.

ECAP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ECAP's Price-To-Earnings Fair Ratio for valuation analysis.

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 ECAP forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	ج.م24.40	ج.م31.06 +27.3%	0.8%	ج.م31.30	ج.م30.82	n/a	2
Nov ’25	ج.م27.61	ج.م31.06 +12.5%	0.8%	ج.م31.30	ج.م30.82	n/a	2
Oct ’25	ج.م23.40	ج.م31.06 +32.7%	0.8%	ج.م31.30	ج.م30.82	n/a	2
Sep ’25	ج.م21.75	ج.م31.06 +42.8%	0.8%	ج.م31.30	ج.م30.82	n/a	2
Aug ’25	ج.م22.90	ج.م31.06 +35.6%	0.8%	ج.م31.30	ج.م30.82	n/a	2
Jul ’25	ج.م19.99	ج.م31.06 +55.4%	0.8%	ج.م31.30	ج.م30.82	n/a	2
Jun ’25	ج.م20.44	ج.م38.52 +88.4%	7.7%	ج.م41.47	ج.م35.56	n/a	2
May ’25	ج.م18.98	ج.م38.52 +102.9%	7.7%	ج.م41.47	ج.م35.56	n/a	2
Apr ’25	ج.م21.29	ج.م38.52 +80.9%	7.7%	ج.م41.47	ج.م35.56	n/a	2
Oct ’24	ج.م17.11	ج.م28.58 +67.0%	28.2%	ج.م35.30	ج.م17.23	ج.م23.40	3
Sep ’24	ج.م17.43	ج.م28.58 +64.0%	28.2%	ج.م35.30	ج.م17.23	ج.م21.75	3
Aug ’24	ج.م17.00	ج.م28.58 +68.1%	28.2%	ج.م35.30	ج.م17.23	ج.م22.90	3
Jul ’24	ج.م18.11	ج.م28.58 +57.8%	28.2%	ج.م35.30	ج.م17.23	ج.م19.99	3
Jun ’24	ج.م18.97	ج.م28.58 +50.6%	28.2%	ج.م35.30	ج.م17.23	ج.م20.44	3
May ’24	ج.م14.82	ج.م28.58 +92.8%	28.2%	ج.م35.30	ج.م17.23	ج.م18.98	3
Apr ’24	ج.م15.09	ج.م28.58 +89.4%	28.2%	ج.م35.30	ج.م17.23	ج.م21.29	3

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.