Tokmanni Group Oyj

HLSE:TOKMAN Stock Report

Market Cap: €682.6m

Tokmanni Group Oyj Valuation

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

Below Fair Value: TOKMAN (€11.6) is trading below our estimate of fair value (€34.39)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TOKMAN. This is calculated by dividing TOKMAN's market cap by their current earnings.
What is TOKMAN's PE Ratio?
PE Ratio16.5x
Earnings€41.41m
Market Cap€682.64m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TOKMAN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average49.4x
PUUILO Puuilo Oyj
18x14.5%€752.9m
LINDEX Lindex Group Oyj
125.3x46.6%€400.8m
KAMUX Kamux Oyj
23.3x43.0%€132.8m
BOOZT Boozt
31x30.9%SEK 6.8b
TOKMAN Tokmanni Group Oyj
16.5x21.2%€682.6m

Price-To-Earnings vs Peers: TOKMAN is good value based on its Price-To-Earnings Ratio (16.5x) compared to the peer average (49.4x).

Price to Earnings Ratio vs Industry

How does TOKMAN's PE Ratio compare vs other companies in the Global Multiline Retail Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TOKMAN 16.5xIndustry Avg. 19.9xNo. of Companies20PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TOKMAN is good value based on its Price-To-Earnings Ratio (16.5x) compared to the Global Multiline Retail industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is TOKMAN'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.

TOKMAN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.5x
Fair PE Ratio17.9x

Price-To-Earnings vs Fair Ratio: TOKMAN is good value based on its Price-To-Earnings Ratio (16.5x) compared to the estimated Fair Price-To-Earnings Ratio (17.9x).

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 TOKMAN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.60
€13.45
+15.9%
7.0%€15.00€12.50n/a4
Nov ’25€10.60
€13.08
+23.3%
10.9%€15.00€11.00n/a4
Oct ’25€10.97
€13.33
+21.5%
8.1%€15.00€12.00n/a4
Sep ’25€10.94
€13.33
+21.8%
8.1%€15.00€12.00n/a4
Aug ’25€11.12
€15.08
+35.6%
8.7%€17.00€13.30n/a4
Jul ’25€13.34
€15.75
+18.1%
5.3%€17.00€15.00n/a4
Jun ’25€13.62
€16.00
+17.5%
7.7%€18.00€15.00n/a4
May ’25€14.24
€16.63
+16.7%
5.8%€18.00€15.50n/a4
Apr ’25€15.18
€17.13
+12.8%
10.2%€20.00€15.50n/a4
Mar ’25€15.64
€16.25
+3.9%
4.6%€17.00€15.50n/a4
Feb ’25€15.81
€15.43
-2.4%
10.2%€17.00€13.70n/a4
Jan ’25€14.62
€14.93
+2.1%
8.7%€17.00€13.70n/a4
Dec ’24€13.21
€14.93
+13.0%
8.7%€17.00€13.70n/a4
Nov ’24€12.81
€15.10
+17.9%
7.7%€17.00€13.90€10.604
Oct ’24€13.15
€15.15
+15.2%
7.4%€17.00€14.10€10.974
Sep ’24€13.33
€15.15
+13.7%
7.4%€17.00€14.10€10.944
Aug ’24€14.15
€14.50
+2.5%
3.4%€15.00€14.00€11.122
Jul ’24€11.96
€13.70
+14.5%
10.0%€16.00€12.50€13.344
Jun ’24€11.86
€14.10
+18.9%
9.7%€16.00€12.80€13.623
May ’24€12.41
€14.40
+16.0%
8.6%€16.00€13.00€14.243
Apr ’24€12.71
€14.33
+12.8%
8.7%€16.00€13.00€15.183
Mar ’24€13.49
€14.33
+6.3%
8.7%€16.00€13.00€15.643
Feb ’24€12.00
€12.70
+5.8%
7.8%€14.00€11.60€15.813
Jan ’24€11.29
€13.03
+15.4%
11.0%€15.00€11.60€14.623
Dec ’23€13.32
€13.23
-0.7%
8.6%€15.00€12.00€13.214
Nov ’23€12.47
€13.23
+6.1%
8.6%€15.00€12.00€12.814

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

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