Personal Group Holdings Valuation

Q: What is the Fair Price of PGH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

PGH (£1.99) is trading above our estimate of [[fair value]] (£1.55)

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

Below Fair Value: PGH (£1.99) is trading above our estimate of fair value (£1.55)

Significantly Below Fair Value: PGH is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PGH. This is calculated by dividing PGH's market cap by their current earnings.
What is PGH's PE Ratio?
PE Ratio	13.7x
Earnings	UK£4.53m
Market Cap	UK£61.99m

PGH key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.8x
Enterprise Value/EBITDA	6.4x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PGH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	8.9x
SBRE Sabre Insurance Group	11.1x	13.7%	UK£325.4m
DLG Direct Line Insurance Group	6.7x	8.0%	UK£2.0b
LRE Lancashire Holdings	5.2x	-7.2%	UK£1.5b
HSD Hansard Global	12.6x	n/a	UK£65.3m
PGH Personal Group Holdings	13.7x	18.7%	UK£62.0m

Price-To-Earnings vs Peers: PGH is expensive based on its Price-To-Earnings Ratio (13.7x) compared to the peer average (8.9x).

Price to Earnings Ratio vs Industry

How does PGH's PE Ratio compare vs other companies in the European Insurance Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: PGH is expensive based on its Price-To-Earnings Ratio (13.7x) compared to the European Insurance industry average (11.7x).

Price to Earnings Ratio vs Fair Ratio

What is PGH'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.

PGH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.7x
Fair PE Ratio	14.2x

Price-To-Earnings vs Fair Ratio: PGH is good value based on its Price-To-Earnings Ratio (13.7x) compared to the estimated Fair Price-To-Earnings Ratio (14.2x).

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 PGH forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	UK£1.99	UK£2.25 +12.8%	6.9%	UK£2.40	UK£2.09	n/a	2
Nov ’25	UK£1.87	UK£2.25 +20.1%	6.9%	UK£2.40	UK£2.09	n/a	2
Oct ’25	UK£1.69	UK£2.25 +32.8%	6.9%	UK£2.40	UK£2.09	n/a	2

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

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