Ashmore Group Plc

LSE:ASHM Stock Report

Market Cap: UK£1.1b

Ashmore Group Valuation

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

Below Fair Value: ASHM (£1.58) is trading below our estimate of fair value (£1.71)

Significantly Below Fair Value: ASHM 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 ASHM?

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

The above table shows the Price to Earnings ratio for ASHM. This is calculated by dividing ASHM's market cap by their current earnings.
What is ASHM's PE Ratio?
PE Ratio11.2x
EarningsUK£93.70m
Market CapUK£1.07b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ASHM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.7x
LWDB Law Debenture
8.2xn/aUK£1.2b
BBGI BBGI Global Infrastructure
15.7xn/aUK£866.4m
N91 Ninety One Group
8.7x4.8%UK£1.3b
OCI Oakley Capital Investments
10xn/aUK£882.1m
ASHM Ashmore Group
11.2x-5.8%UK£1.1b

Price-To-Earnings vs Peers: ASHM is expensive based on its Price-To-Earnings Ratio (11.2x) compared to the peer average (10.7x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PNIX Phoenix Digital Assets
1.3xn/aUS$36.23m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
APQ APQ Global
0.5xn/aUS$6.40m
MAFL Mineral & Financial Investments
2.4xn/aUS$6.21m
No more companies available in this PE range
ASHM 11.2xIndustry Avg. 11.7xNo. of Companies17PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ASHM is good value based on its Price-To-Earnings Ratio (11.2x) compared to the UK Capital Markets industry average (11.7x).

Price to Earnings Ratio vs Fair Ratio

What is ASHM'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.

ASHM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.2x
Fair PE Ratio12.5x

Price-To-Earnings vs Fair Ratio: ASHM is good value based on its Price-To-Earnings Ratio (11.2x) compared to the estimated Fair Price-To-Earnings Ratio (12.5x).

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 ASHM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.58
UK£1.87
+17.9%
21.4%UK£2.85UK£1.50n/a11
Dec ’25UK£1.75
UK£1.87
+7.0%
21.1%UK£2.85UK£1.50n/a11
Nov ’25UK£2.14
UK£1.88
-12.1%
20.3%UK£2.85UK£1.50n/a11
Oct ’25UK£2.03
UK£1.83
-9.9%
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
+9.7%
20.8%UK£2.85UK£1.50n/a11
Jul ’25UK£1.71
UK£1.96
+14.7%
18.3%UK£2.85UK£1.50n/a11
Jun ’25UK£1.95
UK£1.93
-1.1%
18.8%UK£2.85UK£1.50n/a12
May ’25UK£1.91
UK£1.93
+1.0%
18.8%UK£2.85UK£1.50n/a12
Apr ’25UK£1.96
UK£2.05
+4.6%
16.8%UK£2.85UK£1.50n/a12
Mar ’25UK£2.05
UK£2.05
+0.2%
16.6%UK£2.85UK£1.50n/a12
Feb ’25UK£2.09
UK£2.03
-2.9%
17.2%UK£2.85UK£1.50n/a12
Jan ’25UK£2.23
UK£1.90
-14.7%
20.6%UK£2.85UK£1.50n/a12
Dec ’24UK£1.79
UK£1.90
+6.0%
20.7%UK£2.85UK£1.50UK£1.7512
Nov ’24UK£1.70
UK£1.96
+15.3%
20.5%UK£2.85UK£1.50UK£2.1412
Oct ’24UK£1.88
UK£2.08
+10.8%
17.3%UK£2.85UK£1.60UK£2.0312
Sep ’24UK£1.94
UK£2.22
+14.5%
15.0%UK£2.85UK£1.75UK£1.7511
Aug ’24UK£2.03
UK£2.24
+9.9%
14.8%UK£2.85UK£1.75UK£1.6911
Jul ’24UK£2.08
UK£2.40
+15.5%
14.4%UK£2.85UK£1.90UK£1.7111
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
+3.2%
13.0%UK£2.95UK£2.00UK£1.9611
Mar ’24UK£2.68
UK£2.46
-8.1%
13.0%UK£2.95UK£2.00UK£2.0511
Feb ’24UK£2.69
UK£2.41
-10.2%
17.3%UK£2.85UK£1.65UK£2.0911
Jan ’24UK£2.39
UK£2.25
-6.1%
16.1%UK£2.85UK£1.65UK£2.2311
Dec ’23UK£2.30
UK£2.22
-3.2%
17.4%UK£2.85UK£1.65UK£1.7911

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 21:05
End of Day Share Price 2024/12/19 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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 here.

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 .

Analyst Sources

Ashmore Group Plc is covered by 32 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Daniel GarrodBarclays
Michael SandersonBarclays
Andrew LoweBerenberg