Bourse Direct SA

ENXTPA:BSD Stock Report

Market Cap: €229.7m

Bourse Direct Valuation

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

Below Fair Value: BSD (€4.45) is trading above our estimate of fair value (€2.21)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BSD. This is calculated by dividing BSD's market cap by their current earnings.
What is BSD's PE Ratio?
PE Ratio12.8x
Earnings€17.98m
Market Cap€229.66m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BSD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.2x
VIL VIEL & Cie société anonyme
6.2xn/a€695.9m
ALBON Compagnie Lebon
14.1x7.2%€109.2m
ALIDS Idsud
3.3xn/a€70.4m
ABCA ABC arbitrage
17.2x14.7%€283.9m
BSD Bourse Direct
12.8x5.3%€229.7m

Price-To-Earnings vs Peers: BSD is expensive based on its Price-To-Earnings Ratio (12.8x) compared to the peer average (10.2x).

Price to Earnings Ratio vs Industry

How does BSD's PE Ratio compare vs other companies in the European Capital Markets Industry?

17 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BSD 12.8xIndustry Avg. 13.1xNo. of Companies39PE01224364860+
17 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BSD is good value based on its Price-To-Earnings Ratio (12.8x) compared to the European Capital Markets industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is BSD'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.

BSD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.8x
Fair PE Ratio11.1x

Price-To-Earnings vs Fair Ratio: BSD is expensive based on its Price-To-Earnings Ratio (12.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.1x).

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 BSD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.45
€6.10
+37.1%
23.0%€7.50€4.70n/a2
Nov ’25€4.60
€6.10
+32.6%
23.0%€7.50€4.70n/a2
Oct ’25€4.98
€6.10
+22.5%
23.0%€7.50€4.70n/a2
Sep ’25€5.32
€6.10
+14.7%
23.0%€7.50€4.70n/a2

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.

Discover undervalued companies

VIEL & Cie société anonyme

€695.9m

An investment company, provides interdealer broking, online trading, and private banking services in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific region.

VIL

€11.05

7D

-1.8%

1Y

33.5%

Idsud

€70.4m

Engages in the exchange, travel, games, renewable energies, and investment businesses in France.

ALIDS

€190.40

7D

0%

1Y

56.1%

Antin Infrastructure Partners SAS

€1.7b

A private equity firm specializing in infrastructure investments.

ANTIN

€9.50

7D

-3.7%

1Y

-16.9%