Nichols plc

AIM:NICL Stock Report

Market Cap: UK£463.9m

Nichols Valuation

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

Below Fair Value: NICL (£12.65) is trading below our estimate of fair value (£22.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NICL. This is calculated by dividing NICL's market cap by their current earnings.
What is NICL's PE Ratio?
PE Ratio24.7x
EarningsUK£18.73m
Market CapUK£463.94m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NICL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25x
FEVR Fevertree Drinks
36.8x29.4%UK£805.5m
BAG A.G. BARR
18.8x15.6%UK£680.8m
BVIC Britvic
25.2x16.9%UK£3.2b
CCH Coca-Cola HBC
19.3x11.9%UK£10.2b
NICL Nichols
24.7x12.9%UK£462.1m

Price-To-Earnings vs Peers: NICL is good value based on its Price-To-Earnings Ratio (24.7x) compared to the peer average (25x).

Price to Earnings Ratio vs Industry

How does NICL's PE Ratio compare vs other companies in the European Beverage Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NICL 24.7xIndustry Avg. 17.3xNo. of Companies6PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NICL is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the European Beverage industry average (17.3x).

Price to Earnings Ratio vs Fair Ratio

What is NICL'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.

NICL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.7x
Fair PE Ratio16.8x

Price-To-Earnings vs Fair Ratio: NICL is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.8x).

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 NICL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£12.65
UK£12.85
+1.6%
3.5%UK£13.50UK£12.30n/a4
Nov ’25UK£11.55
UK£12.03
+4.1%
8.9%UK£13.50UK£11.00n/a4
Oct ’25UK£9.90
UK£12.80
+29.3%
7.5%UK£14.00UK£11.00n/a6
Sep ’25UK£11.30
UK£12.80
+13.3%
7.5%UK£14.00UK£11.00n/a6
Aug ’25UK£11.10
UK£12.80
+15.3%
7.5%UK£14.00UK£11.00n/a6
Jul ’25UK£10.15
UK£12.13
+19.5%
8.4%UK£13.50UK£11.00n/a6
Jun ’25UK£10.30
UK£12.13
+17.8%
8.4%UK£13.50UK£11.00n/a6
May ’25UK£9.80
UK£12.36
+26.1%
7.8%UK£13.50UK£11.00n/a5
Apr ’25UK£9.68
UK£12.04
+24.4%
9.4%UK£13.50UK£10.45n/a6
Mar ’25UK£10.35
UK£11.94
+15.4%
9.0%UK£13.20UK£10.45n/a5
Feb ’25UK£10.40
UK£11.83
+13.7%
9.2%UK£13.20UK£10.45n/a5
Jan ’25UK£11.40
UK£11.57
+1.5%
5.7%UK£12.40UK£10.45n/a5
Dec ’24UK£10.60
UK£11.57
+9.2%
5.7%UK£12.40UK£10.45n/a5
Nov ’24UK£9.24
UK£11.57
+25.2%
5.7%UK£12.40UK£10.45UK£11.555
Oct ’24UK£10.15
UK£11.57
+14.0%
5.7%UK£12.40UK£10.45UK£9.905
Sep ’24UK£10.20
UK£11.59
+13.6%
6.3%UK£12.40UK£10.45UK£11.304
Aug ’24UK£10.10
UK£11.59
+14.7%
6.3%UK£12.40UK£10.45UK£11.104
Jul ’24UK£9.64
UK£11.97
+24.1%
3.1%UK£12.40UK£11.50UK£10.153
Jun ’24UK£9.70
UK£11.97
+23.4%
3.1%UK£12.40UK£11.50UK£10.303
May ’24UK£10.80
UK£11.97
+10.8%
3.1%UK£12.40UK£11.50UK£9.803
Apr ’24UK£11.30
UK£11.97
+5.9%
3.1%UK£12.40UK£11.50UK£9.683
Mar ’24UK£10.40
UK£11.48
+10.3%
5.0%UK£12.40UK£11.00UK£10.354
Feb ’24UK£10.35
UK£12.23
+18.1%
15.1%UK£15.40UK£11.00UK£10.404
Jan ’24UK£10.73
UK£13.21
+23.2%
11.8%UK£15.40UK£11.00UK£11.404
Dec ’23UK£10.85
UK£13.21
+21.8%
11.8%UK£15.40UK£11.00UK£10.604
Nov ’23UK£11.25
UK£13.51
+20.1%
8.6%UK£15.40UK£12.20UK£9.244

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

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