Ashmore Group Plc

BATS-CHIXE:ASHML Stock Report

Market Cap: UK£1.1b

Ashmore Group Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: ASHML (£1.7) is trading below our estimate of fair value (£1.75)

Significantly Below Fair Value: ASHML 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 ASHML?

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

The above table shows the Price to Earnings ratio for ASHML. This is calculated by dividing ASHML's market cap by their current earnings.
What is ASHML's PE Ratio?
PE Ratio12.1x
EarningsUK£93.70m
Market CapUK£1.13b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ASHML vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.9x
LWDB Law Debenture
8.3xn/aUK£1.2b
BBGI BBGI Global Infrastructure
16.2xn/aUK£893.6m
N91 Ninety One Group
9.5x6.1%UK£1.5b
OCI Oakley Capital Investments
9.7xn/aUK£857.4m
ASHML Ashmore Group
12.1x-4.9%UK£1.1b

Price-To-Earnings vs Peers: ASHML is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (10.9x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PNIX Phoenix Digital Assets
1.2xn/aUS$34.29m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
APQ APQ Global
0.4xn/aUS$5.78m
MAFL Mineral & Financial Investments
2xn/aUS$5.00m
No more companies available in this PE range
No. of Companies19PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ASHML is good value based on its Price-To-Earnings Ratio (12.1x) compared to the UK Capital Markets industry average (12.2x).

Price to Earnings Ratio vs Fair Ratio

What is ASHML'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.

ASHML PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ratio12.8x

Price-To-Earnings vs Fair Ratio: ASHML is good value based on its Price-To-Earnings Ratio (12.1x) 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 ASHML forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.70
UK£1.86
+9.3%
21.2%UK£2.85UK£1.50n/a11
Nov ’25UK£2.15
UK£1.88
-12.5%
20.3%UK£2.85UK£1.50n/a11
Oct ’25UK£2.04
UK£1.83
-10.1%
21.3%UK£2.85UK£1.45n/a11
Sep ’25UK£1.75
UK£1.85
+5.9%
20.8%UK£2.85UK£1.50n/a11
Aug ’25UK£1.69
UK£1.85
+9.8%
20.8%UK£2.85UK£1.50n/a11
Jul ’25UK£1.70
UK£1.96
+15.6%
18.3%UK£2.85UK£1.50n/a11
Jun ’25UK£1.95
UK£1.93
-1.2%
18.8%UK£2.85UK£1.50n/a12
May ’25UK£1.91
UK£1.93
+0.7%
18.8%UK£2.85UK£1.50n/a12
Apr ’25UK£1.96
UK£2.05
+4.4%
16.8%UK£2.85UK£1.50n/a12
Mar ’25UK£2.07
UK£2.05
-1.1%
16.6%UK£2.85UK£1.50n/a12
Feb ’25UK£2.09
UK£2.03
-2.7%
17.2%UK£2.85UK£1.50n/a12
Jan ’25UK£2.23
UK£1.90
-14.8%
20.6%UK£2.85UK£1.50n/a12
Dec ’24UK£1.79
UK£1.90
+6.1%
20.7%UK£2.85UK£1.50n/a12
Nov ’24UK£1.71
UK£1.96
+14.7%
20.5%UK£2.85UK£1.50UK£2.1512
Oct ’24UK£1.89
UK£2.08
+10.2%
17.3%UK£2.85UK£1.60UK£2.0412
Sep ’24UK£1.95
UK£2.22
+14.0%
15.0%UK£2.85UK£1.75UK£1.7511
Aug ’24UK£2.03
UK£2.24
+10.1%
14.8%UK£2.85UK£1.75UK£1.6911
Jul ’24UK£2.09
UK£2.40
+15.2%
14.4%UK£2.85UK£1.90UK£1.7011
Jun ’24UK£2.28
UK£2.40
+5.4%
14.4%UK£2.85UK£1.90UK£1.9511
May ’24UK£2.43
UK£2.40
-1.2%
14.4%UK£2.85UK£1.90UK£1.9111
Apr ’24UK£2.39
UK£2.46
+3.0%
13.0%UK£2.95UK£2.00UK£1.9611
Mar ’24UK£2.69
UK£2.46
-8.4%
13.0%UK£2.95UK£2.00UK£2.0711
Feb ’24UK£2.70
UK£2.41
-10.5%
17.3%UK£2.85UK£1.65UK£2.0911
Jan ’24UK£2.41
UK£2.25
-6.6%
16.1%UK£2.85UK£1.65UK£2.2311
Dec ’23UK£2.28
UK£2.22
-2.7%
17.4%UK£2.85UK£1.65UK£1.7911
Nov ’23UK£2.17
UK£2.18
+0.7%
17.3%UK£2.85UK£1.65UK£1.7112

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

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