SEB Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: SK (€89.4) is trading below our estimate of fair value (€172.1)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SK. This is calculated by dividing SK's market cap by their current earnings.
What is SK's PE Ratio?
PE Ratio11.9x
Earnings€410.30m
Market Cap€4.86b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.6x
ALMGI MG International
5.7xn/a€22.5m
KOF Kaufman & Broad
15.9x14.5%€680.2m
002032 Zhejiang Supor
18x7.8%CN¥40.5b
DLG De'Longhi
14.9x10.0%€4.2b
SK SEB
11.9x10.9%€4.9b

Price-To-Earnings vs Peers: SK is good value based on its Price-To-Earnings Ratio (11.9x) compared to the peer average (13.6x).


Price to Earnings Ratio vs Industry

How does SK's PE Ratio compare vs other companies in the European Consumer Durables Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SK 11.9xIndustry Avg. 12.4xNo. of Companies11PE0816243240+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SK is good value based on its Price-To-Earnings Ratio (11.9x) compared to the European Consumer Durables industry average (12.4x).


Price to Earnings Ratio vs Fair Ratio

What is SK'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.

SK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.9x
Fair PE Ratio14.7x

Price-To-Earnings vs Fair Ratio: SK is good value based on its Price-To-Earnings Ratio (11.9x) compared to the estimated Fair Price-To-Earnings Ratio (14.7x).


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 SK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€89.40
€134.73
+50.7%
7.6%€163.00€125.00n/a11
Nov ’25€96.25
€134.36
+39.6%
6.8%€159.00€125.00n/a11
Oct ’25€101.20
€135.10
+33.5%
6.9%€159.00€125.00n/a10
Sep ’25€94.60
€135.30
+43.0%
4.6%€149.00€125.00n/a10
Aug ’25€90.45
€135.30
+49.6%
4.6%€149.00€125.00n/a10
Jul ’25€98.25
€135.50
+37.9%
5.0%€151.00€125.00n/a10
Jun ’25€113.40
€135.50
+19.5%
5.0%€151.00€125.00n/a10
May ’25€111.20
€135.40
+21.8%
4.8%€150.00€125.00n/a10
Apr ’25€118.60
€134.70
+13.6%
4.8%€149.00€125.00n/a10
Mar ’25€111.60
€132.90
+19.1%
5.8%€149.00€120.00n/a10
Feb ’25€111.70
€125.73
+12.6%
11.9%€149.00€85.00n/a11
Jan ’25€113.00
€121.82
+7.8%
12.5%€147.00€85.00n/a11
Dec ’24€106.00
€117.00
+10.4%
11.1%€134.00€85.00n/a11
Nov ’24€94.15
€115.64
+22.8%
10.3%€128.00€85.00€96.2511
Oct ’24€88.65
€117.64
+32.7%
10.1%€128.00€85.00€101.2011
Sep ’24€100.90
€117.64
+16.6%
10.1%€128.00€85.00€94.6011
Aug ’24€100.40
€117.18
+16.7%
10.0%€128.00€85.00€90.4511
Jul ’24€94.65
€120.00
+26.8%
5.3%€128.00€110.00€98.2510
Jun ’24€87.25
€117.00
+34.1%
10.1%€128.00€85.00€113.4011
May ’24€103.80
€116.55
+12.3%
10.0%€128.00€85.00€111.2011
Apr ’24€104.80
€116.64
+11.3%
10.1%€128.00€85.00€118.6011
Mar ’24€105.50
€115.67
+9.6%
14.2%€150.00€85.00€111.6012
Feb ’24€97.95
€107.58
+9.8%
20.8%€150.00€70.00€111.7012
Jan ’24€78.25
€102.67
+31.2%
22.2%€150.00€70.00€113.0012
Dec ’23€78.20
€102.67
+31.3%
22.2%€150.00€70.00€106.0012
Nov ’23€65.95
€104.50
+58.5%
21.3%€150.00€70.00€94.1512

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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