Dr. Martens plc

BATS-CHIXE:DOCSL Stock Report

Market Cap: UK£632.3m

Dr. Martens Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: DOCSL (£0.65) is trading below our estimate of fair value (£0.93)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DOCSL. This is calculated by dividing DOCSL's market cap by their current earnings.
What is DOCSL's PE Ratio?
PE Ratio9.1x
EarningsUK£69.20m
Market CapUK£632.27m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DOCSL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average36.2x
COA Coats Group
19.4x15.5%UK£1.5b
GLE MJ Gleeson
15.4x15.0%UK£296.5m
BOOT Henry Boot
26.2x25.5%UK£296.7m
BRBY Burberry Group
83.9x38.9%UK£3.2b
DOCSL Dr. Martens
9.1x3.3%UK£632.3m

Price-To-Earnings vs Peers: DOCSL is good value based on its Price-To-Earnings Ratio (9.1x) compared to the peer average (36.2x).


Price to Earnings Ratio vs Industry

How does DOCSL's PE Ratio compare vs other companies in the European Luxury Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies6PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DOCSL is good value based on its Price-To-Earnings Ratio (9.1x) compared to the European Luxury industry average (14.4x).


Price to Earnings Ratio vs Fair Ratio

What is DOCSL'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.

DOCSL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.1x
Fair PE Ratio12.8x

Price-To-Earnings vs Fair Ratio: DOCSL is good value based on its Price-To-Earnings Ratio (9.1x) compared to the estimated Fair Price-To-Earnings Ratio (12.8x).


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 DOCSL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.65
UK£0.76
+17.7%
13.0%UK£0.95UK£0.60n/a8
Nov ’25UK£0.56
UK£0.76
+35.4%
12.9%UK£0.95UK£0.60n/a8
Oct ’25UK£0.56
UK£0.78
+39.6%
10.5%UK£0.95UK£0.70n/a8
Sep ’25UK£0.72
UK£0.78
+7.9%
10.5%UK£0.95UK£0.70n/a8
Aug ’25UK£0.69
UK£0.78
+11.6%
10.7%UK£0.95UK£0.70n/a8
Jul ’25UK£0.74
UK£0.77
+4.4%
10.7%UK£0.95UK£0.70n/a8
Jun ’25UK£0.87
UK£0.75
-13.5%
11.6%UK£0.95UK£0.65n/a8
May ’25UK£0.78
UK£0.77
-1.5%
18.6%UK£1.10UK£0.65n/a8
Apr ’25UK£0.88
UK£0.96
+8.4%
10.9%UK£1.10UK£0.85n/a9
Mar ’25UK£0.97
UK£0.98
+1.5%
9.4%UK£1.10UK£0.85n/a9
Feb ’25UK£0.85
UK£0.98
+15.5%
9.4%UK£1.10UK£0.85n/a9
Jan ’25UK£0.89
UK£1.22
+37.7%
16.8%UK£1.60UK£1.00n/a9
Dec ’24UK£0.96
UK£1.35
+40.4%
12.3%UK£1.60UK£1.10n/a9
Nov ’24UK£1.18
UK£1.59
+34.7%
14.2%UK£2.15UK£1.40UK£0.569
Oct ’24UK£1.42
UK£1.59
+11.7%
14.2%UK£2.15UK£1.40UK£0.569
Sep ’24UK£1.57
UK£1.59
+0.9%
14.2%UK£2.15UK£1.40UK£0.729
Aug ’24UK£1.45
UK£1.59
+9.5%
14.2%UK£2.15UK£1.40UK£0.699
Jul ’24UK£1.23
UK£1.64
+32.8%
16.9%UK£2.15UK£1.40UK£0.749
Jun ’24UK£1.38
UK£1.92
+39.5%
15.4%UK£2.50UK£1.52UK£0.879
May ’24UK£1.67
UK£2.04
+21.8%
19.2%UK£2.72UK£1.52UK£0.789
Apr ’24UK£1.42
UK£2.08
+46.7%
24.6%UK£3.00UK£1.40UK£0.888
Mar ’24UK£1.55
UK£2.11
+36.0%
22.0%UK£3.00UK£1.40UK£0.979
Feb ’24UK£1.59
UK£2.54
+60.1%
30.9%UK£4.00UK£1.40UK£0.858
Jan ’24UK£1.90
UK£3.35
+75.9%
22.4%UK£5.00UK£2.50UK£0.898
Dec ’23UK£2.11
UK£3.52
+66.6%
24.6%UK£5.00UK£2.50UK£0.968
Nov ’23UK£2.50
UK£3.83
+53.3%
20.4%UK£5.50UK£2.76UK£1.188

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


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