Implenia AG

BATS-CHIXE:IMPNZ Stock Report

Market Cap: CHF 1.2b

Implenia Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: IMPNZ (CHF65.2) is trading below our estimate of future cash flow value (CHF68.05)

Significantly Below Future Cash Flow Value: IMPNZ is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for IMPNZ. This is calculated by dividing IMPNZ's market cap by their current earnings.
What is IMPNZ's PE Ratio?
PE Ratio14.3x
EarningsCHF 83.64m
Market CapCHF 1.20b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for IMPNZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.4x
KIE Kier Group
17.4x18.55%UK£1.1b
RNWH Renew Holdings
16.1x9.14%UK£733.1m
KLR Keller Group
15.7x6.05%UK£2.2b
MGNS Morgan Sindall Group
12.7x-1.61%UK£2.2b
IMPNZ Implenia
14.3x12.33%CHF 1.2b

Price-To-Earnings vs Peers: IMPNZ is good value based on its Price-To-Earnings Ratio (14.3x) compared to the peer average (15.4x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does IMPNZ's PE Ratio compare vs other companies in the European Construction Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies17PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IMPNZ is good value based on its Price-To-Earnings Ratio (14.3x) compared to the European Construction industry average (15.6x).

Price to Earnings Ratio vs Fair Ratio

What is IMPNZ'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.

IMPNZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.3x
Fair PE Ratio20.2x

Price-To-Earnings vs Fair Ratio: IMPNZ is good value based on its Price-To-Earnings Ratio (14.3x) compared to the estimated Fair Price-To-Earnings Ratio (20.2x).

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 IMPNZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 65.20
CHF 86.00
+31.90%
14.43%CHF 100.00CHF 65.00n/a5
Jul ’27CHF 71.10
CHF 86.00
+20.96%
14.43%CHF 100.00CHF 65.00n/a5
Jun ’27CHF 60.50
CHF 86.00
+42.15%
14.43%CHF 100.00CHF 65.00n/a5
May ’27CHF 61.70
CHF 86.00
+39.38%
14.43%CHF 100.00CHF 65.00n/a5
Apr ’27CHF 65.00
CHF 86.00
+32.31%
14.43%CHF 100.00CHF 65.00n/a5
Mar ’27CHF 72.30
CHF 83.00
+14.80%
20.64%CHF 100.00CHF 52.00n/a5
Feb ’27CHF 74.05
CHF 74.80
+1.01%
18.32%CHF 95.00CHF 52.00n/a5
Jan ’27CHF 76.60
CHF 64.25
-16.12%
13.85%CHF 75.00CHF 52.00n/a4
Dec ’26CHF 66.50
CHF 64.25
-3.38%
13.85%CHF 75.00CHF 52.00n/a4
Nov ’26CHF 63.95
CHF 64.25
+0.47%
13.85%CHF 75.00CHF 52.00n/a4
Oct ’26CHF 66.25
CHF 64.25
-3.02%
13.85%CHF 75.00CHF 52.00n/a4
Sep ’26CHF 63.30
CHF 62.50
-1.26%
11.40%CHF 70.00CHF 52.00n/a4
Aug ’26CHF 55.35
CHF 55.25
-0.18%
15.95%CHF 61.00CHF 40.00n/a4
Jul ’26CHF 54.00
CHF 55.25
+2.31%
15.95%CHF 61.00CHF 40.00CHF 71.104
Jun ’26CHF 48.30
CHF 49.33
+2.14%
16.66%CHF 60.00CHF 40.00CHF 60.503
May ’26CHF 46.65
CHF 45.00
-3.54%
7.91%CHF 48.00CHF 40.00CHF 61.703
Apr ’26CHF 40.55
CHF 43.00
+6.04%
8.28%CHF 48.00CHF 40.00CHF 65.003
Mar ’26CHF 36.48
CHF 41.33
+13.32%
12.85%CHF 48.00CHF 35.00CHF 72.303
Feb ’26CHF 34.93
CHF 38.33
+9.76%
6.51%CHF 41.00CHF 35.00CHF 74.053
Jan ’26CHF 30.60
CHF 38.33
+25.27%
6.51%CHF 41.00CHF 35.00CHF 76.603
Dec ’25CHF 29.23
CHF 38.33
+31.17%
6.51%CHF 41.00CHF 35.00CHF 66.503
Nov ’25CHF 31.00
CHF 38.33
+23.66%
6.51%CHF 41.00CHF 35.00CHF 63.953
Oct ’25CHF 31.90
CHF 38.33
+20.17%
6.51%CHF 41.00CHF 35.00CHF 66.253
Sep ’25CHF 31.50
CHF 38.33
+21.69%
6.51%CHF 41.00CHF 35.00CHF 63.303
Aug ’25CHF 31.65
CHF 38.33
+21.12%
6.51%CHF 41.00CHF 35.00CHF 55.353
Jul ’25CHF 32.85
CHF 38.33
+16.69%
6.51%CHF 41.00CHF 35.00CHF 54.003
CHF 86.26
Fair Value
24.4% undervalued intrinsic discount
5
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/23 23:08
End of Day Share Price 2026/07/23 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Implenia AG is covered by 9 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Patrick AppenzellerBaader Helvea Equity Research
Patrick LaagerBerenberg
Christian KorthHSBC