Exclusive Networks SA

ENXTPA:EXN Stock Report

Market Cap: €2.2b

Exclusive Networks Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: EXN (€24) is trading above our estimate of fair value (€20.48)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for EXN. This is calculated by dividing EXN's market cap by their current earnings.
What is EXN's PE Ratio?
PE Ratio53x
Earnings€41.00m
Market Cap€2.18b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for EXN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.8x
ATE Alten
11.4x4.5%€2.7b
SOP Sopra Steria Group
16.1x14.6%€3.6b
SII SII
16.8xn/a€1.4b
NRO Neurones
22.7xn/a€1.1b
EXN Exclusive Networks
53x34.5%€2.2b

Price-To-Earnings vs Peers: EXN is expensive based on its Price-To-Earnings Ratio (53x) compared to the peer average (16.8x).

Price to Earnings Ratio vs Industry

How does EXN's PE Ratio compare vs other companies in the European IT Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
EXN 53.0xIndustry Avg. 17.9xNo. of Companies27PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EXN is expensive based on its Price-To-Earnings Ratio (53x) compared to the European IT industry average (17.9x).

Price to Earnings Ratio vs Fair Ratio

What is EXN'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.

EXN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio53x
Fair PE Ratio32.3x

Price-To-Earnings vs Fair Ratio: EXN is expensive based on its Price-To-Earnings Ratio (53x) compared to the estimated Fair Price-To-Earnings Ratio (32.3x).

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 EXN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€24.00
€25.11
+4.6%
7.8%€29.00€24.00n/a5
Nov ’25€23.65
€25.25
+6.8%
7.6%€29.00€24.00n/a5
Oct ’25€23.55
€25.22
+7.1%
6.9%€29.00€24.00n/a6
Sep ’25€23.45
€25.33
+8.0%
6.5%€29.00€24.00n/a7
Aug ’25€23.20
€24.61
+6.1%
11.2%€29.00€19.00n/a7
Jul ’25€19.90
€24.39
+22.6%
12.1%€29.00€19.00n/a9
Jun ’25€20.45
€24.39
+19.3%
12.1%€29.00€19.00n/a9
May ’25€20.00
€24.31
+21.6%
12.8%€29.00€19.00n/a8
Apr ’25€22.00
€23.81
+8.2%
14.2%€29.00€18.00n/a8
Mar ’25€17.58
€23.06
+31.2%
11.8%€25.00€18.00n/a8
Feb ’25€18.94
€22.94
+21.1%
11.6%€25.00€18.00n/a8
Jan ’25€19.42
€22.88
+17.8%
11.4%€25.00€18.00n/a8
Dec ’24€17.58
€23.43
+33.3%
8.8%€25.00€19.00n/a7
Nov ’24€15.40
€24.33
+58.0%
5.1%€26.00€22.00€23.656
Oct ’24€17.22
€24.50
+42.3%
5.1%€26.00€22.00€23.556
Sep ’24€18.82
€24.50
+30.2%
5.1%€26.00€22.00€23.456
Aug ’24€19.44
€24.75
+27.3%
6.6%€27.50€22.00€23.206
Jul ’24€19.50
€24.08
+23.5%
8.8%€27.50€21.00€19.906
Jun ’24€19.46
€24.08
+23.8%
8.8%€27.50€21.00€20.456
May ’24€19.60
€24.08
+22.9%
8.8%€27.50€21.00€20.006
Apr ’24€19.64
€24.00
+22.2%
8.8%€27.50€21.00€22.006
Mar ’24€20.00
€23.75
+18.8%
9.2%€27.50€21.00€17.586
Feb ’24€19.18
€22.58
+17.7%
7.4%€24.50€20.00€18.946
Jan ’24€18.08
€22.58
+24.9%
7.4%€24.50€20.00€19.426
Dec ’23€17.00
€22.33
+31.4%
7.9%€24.50€20.00€17.586
Nov ’23€16.40
€22.25
+35.7%
7.5%€24.50€20.00€15.406

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

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