Kardex Holding AG

BATS-CHIXE:KARNZ Stock Report

Market Cap: CHF 2.1b

Kardex Holding Valuation

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

Below Fair Value: KARNZ (CHF268) is trading below our estimate of fair value (CHF309.26)

Significantly Below Fair Value: KARNZ is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KARNZ. This is calculated by dividing KARNZ's market cap by their current earnings.
What is KARNZ's PE Ratio?
PE Ratio30.4x
Earnings€72.60m
Market Cap€2.21b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KARNZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.8x
ROR Rotork
23.4x8.9%UK£2.8b
BOY Bodycote
17.8x20.2%UK£1.1b
VSVS Vesuvius
10.1x11.9%UK£1.1b
JDG Judges Scientific
44x25.3%UK£559.3m
KARNZ Kardex Holding
30.4x6.9%CHF 2.1b

Price-To-Earnings vs Peers: KARNZ is expensive based on its Price-To-Earnings Ratio (30.4x) compared to the peer average (23.8x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies29PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KARNZ is expensive based on its Price-To-Earnings Ratio (30.4x) compared to the European Machinery industry average (17.4x).

Price to Earnings Ratio vs Fair Ratio

What is KARNZ'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.

KARNZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30.4x
Fair PE Ratio16.7x

Price-To-Earnings vs Fair Ratio: KARNZ is expensive based on its Price-To-Earnings Ratio (30.4x) compared to the estimated Fair Price-To-Earnings Ratio (16.7x).

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 KARNZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 268.00
CHF 273.17
+1.9%
14.3%CHF 342.00CHF 225.00n/a5
Nov ’25CHF 262.50
CHF 273.17
+4.1%
14.3%CHF 342.00CHF 225.00n/a5
Oct ’25CHF 271.50
CHF 265.97
-2.0%
14.7%CHF 342.00CHF 225.00n/a6
Sep ’25CHF 275.50
CHF 265.97
-3.5%
14.7%CHF 342.00CHF 225.00n/a6
Aug ’25CHF 269.00
CHF 262.93
-2.3%
14.6%CHF 342.00CHF 225.00n/a6
Jul ’25CHF 230.00
CHF 257.71
+12.0%
11.5%CHF 316.00CHF 225.00n/a6
Jun ’25CHF 249.00
CHF 252.74
+1.5%
11.4%CHF 312.00CHF 220.00n/a7
May ’25CHF 244.50
CHF 252.74
+3.4%
11.4%CHF 312.00CHF 220.00n/a7
Apr ’25CHF 253.50
CHF 250.33
-1.3%
11.4%CHF 307.00CHF 220.00n/a6
Mar ’25CHF 234.00
CHF 244.00
+4.3%
11.1%CHF 294.00CHF 210.00n/a6
Feb ’25CHF 223.00
CHF 242.57
+8.8%
10.4%CHF 294.00CHF 210.00n/a7
Jan ’25CHF 219.00
CHF 234.00
+6.8%
6.5%CHF 255.00CHF 210.00n/a6
Dec ’24CHF 206.50
CHF 234.35
+13.5%
6.5%CHF 255.00CHF 210.00n/a6
Nov ’24CHF 174.60
CHF 237.62
+36.1%
5.9%CHF 255.00CHF 220.00CHF 262.506
Oct ’24CHF 200.00
CHF 237.62
+18.8%
5.9%CHF 255.00CHF 220.00CHF 271.506
Sep ’24CHF 200.25
CHF 237.62
+18.7%
5.9%CHF 255.00CHF 220.00CHF 275.506
Aug ’24CHF 216.00
CHF 232.80
+7.8%
5.7%CHF 255.00CHF 220.00CHF 269.006
Jul ’24CHF 199.60
CHF 213.80
+7.1%
6.3%CHF 230.57CHF 200.00CHF 230.006
Jun ’24CHF 198.60
CHF 213.80
+7.7%
6.3%CHF 230.57CHF 200.00CHF 249.006
May ’24CHF 202.00
CHF 213.80
+5.8%
6.3%CHF 230.57CHF 200.00CHF 244.506
Apr ’24CHF 198.40
CHF 213.54
+7.6%
6.4%CHF 230.57CHF 200.00CHF 253.506
Mar ’24CHF 175.60
CHF 199.37
+13.5%
7.1%CHF 220.00CHF 180.00CHF 234.006
Feb ’24CHF 183.20
CHF 199.37
+8.8%
7.1%CHF 220.00CHF 180.00CHF 223.006
Jan ’24CHF 152.40
CHF 193.53
+27.0%
8.1%CHF 220.00CHF 175.00CHF 219.006
Dec ’23CHF 158.60
CHF 194.37
+22.6%
8.3%CHF 220.00CHF 175.00CHF 206.506
Nov ’23CHF 155.00
CHF 203.40
+31.2%
8.6%CHF 228.00CHF 175.00CHF 174.606

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

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