Haulotte Group SA

ENXTPA:PIG Stock Report

Market Cap: €82.5m

Haulotte Group Valuation

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

Below Fair Value: PIG (€2.79) is trading below our estimate of fair value (€4.48)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PIG. This is calculated by dividing PIG's market cap by their current earnings.
What is PIG's PE Ratio?
PE Ratio4.9x
Earnings€16.78m
Market Cap€82.49m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PIG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.3x
MLCFD Compagnie de Chemins de Fer Départementaux Société Anonyme
25.4xn/a€24.8m
MTU Manitou BF
3.8x-15.6%€618.4m
ALGEV Gévelot
12.9x-6.4%€141.4m
ALSTI STIF Société anonyme
22.9x21.9%€111.9m
PIG Haulotte Group
4.9x9.9%€82.5m

Price-To-Earnings vs Peers: PIG is good value based on its Price-To-Earnings Ratio (4.9x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

How does PIG's PE Ratio compare vs other companies in the European Machinery Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PIG 4.9xIndustry Avg. 17.3xNo. of Companies29PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PIG is good value based on its Price-To-Earnings Ratio (4.9x) compared to the European Machinery industry average (17.3x).

Price to Earnings Ratio vs Fair Ratio

What is PIG'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.

PIG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.9x
Fair PE Ratio9.7x

Price-To-Earnings vs Fair Ratio: PIG is good value based on its Price-To-Earnings Ratio (4.9x) compared to the estimated Fair Price-To-Earnings Ratio (9.7x).

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 PIG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.79
€2.67
-4.4%
12.0%€3.00€2.00n/a6
Nov ’25€2.67
€2.67
-0.1%
12.0%€3.00€2.00n/a6
Oct ’25€2.89
€2.58
-10.7%
12.1%€2.80€2.00n/a5
Sep ’25€3.04
€2.38
-21.9%
12.0%€2.80€2.00n/a4
Aug ’25€3.02
€2.38
-21.4%
12.0%€2.80€2.00n/a4
Jul ’25€3.01
€2.38
-21.1%
12.0%€2.80€2.00n/a4
Jun ’25€3.17
€2.25
-29.0%
6.7%€2.40€2.00n/a4
May ’25€2.12
€2.26
+6.6%
6.0%€2.40€2.00n/a5
Apr ’25€2.38
€2.51
+5.5%
11.7%€3.00€2.25n/a5
Mar ’25€2.50
€3.27
+30.7%
48.9%€6.80€2.30n/a6
Feb ’25€2.49
€3.35
+34.5%
47.2%€6.80€2.30n/a6
Jan ’25€2.53
€3.47
+37.0%
43.9%€6.80€2.30n/a6
Dec ’24€2.50
€3.47
+38.7%
43.9%€6.80€2.30n/a6
Nov ’24€2.40
€3.60
+50.0%
42.5%€6.80€2.30€2.676
Oct ’24€2.91
€3.96
+36.1%
37.2%€6.80€3.00€2.895
Sep ’24€3.10
€4.02
+29.7%
35.8%€6.80€3.00€3.045
Aug ’24€3.08
€4.02
+30.5%
35.8%€6.80€3.00€3.025
Jul ’24€3.15
€3.95
+25.4%
33.5%€6.80€3.00€3.016
Jun ’24€3.11
€3.95
+27.0%
33.5%€6.80€3.00€3.176
May ’24€3.50
€3.95
+12.9%
33.5%€6.80€3.00€2.126
Apr ’24€3.28
€3.78
+15.5%
39.2%€6.80€2.00€2.386
Mar ’24€3.74
€3.63
-2.7%
42.1%€6.80€2.00€2.506
Feb ’24€3.32
€3.15
-5.1%
19.7%€4.00€2.00€2.496
Jan ’24€3.47
€3.15
-9.1%
19.7%€4.00€2.00€2.536
Dec ’23€3.37
€3.15
-6.5%
19.7%€4.00€2.00€2.506
Nov ’23€2.76
€3.02
+9.5%
16.5%€3.60€2.00€2.406

Analyst Forecast: Target price is lower than the current share price.

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