Heidelberg Materials AG

BATS-CHIXE:HEID Stock Report

Market Cap: €21.2b

Heidelberg Materials Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: HEID (€118.2) is trading below our estimate of fair value (€225.93)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HEID. This is calculated by dividing HEID's market cap by their current earnings.
What is HEID's PE Ratio?
PE Ratio11.4x
Earnings€1.85b
Market Cap€21.16b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HEID vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average41.2x
BREE Breedon Group
15.6x14.1%UK£1.5b
RHIM RHI Magnesita
9.4x12.0%UK£1.5b
MSLH Marshalls
37.9x28.2%UK£818.7m
IBST Ibstock
101.9x36.5%UK£738.9m
HEID Heidelberg Materials
11.4x7.3%€21.2b

Price-To-Earnings vs Peers: HEID is good value based on its Price-To-Earnings Ratio (11.4x) compared to the peer average (41.2x).

Price to Earnings Ratio vs Industry

How does HEID's PE Ratio compare vs other companies in the European Basic Materials Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies9PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HEID is good value based on its Price-To-Earnings Ratio (11.4x) compared to the European Basic Materials industry average (13.2x).

Price to Earnings Ratio vs Fair Ratio

What is HEID'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.

HEID PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HEID's Price-To-Earnings Fair Ratio for valuation analysis.

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 HEID forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€118.20
€120.32
+1.8%
16.0%€160.00€91.00n/a19
Nov ’25€102.68
€111.09
+8.2%
14.6%€150.00€84.00n/a19
Oct ’25€98.51
€111.26
+12.9%
14.9%€150.00€84.00n/a19
Sep ’25€95.74
€112.84
+17.9%
15.3%€150.00€84.00n/a19
Aug ’25€93.88
€111.16
+18.4%
15.3%€150.00€84.00n/a19
Jul ’25€96.14
€110.61
+15.1%
14.4%€150.00€84.00n/a18
Jun ’25n/a
€110.61
0%
14.4%€150.00€84.00n/a18
May ’25€92.27
€107.71
+16.7%
15.4%€150.00€81.00n/a17
Apr ’25€101.60
€99.65
-1.9%
15.3%€150.00€81.00n/a17
Mar ’25€89.51
€95.23
+6.4%
10.4%€115.00€78.00n/a18
Feb ’25€85.03
€89.41
+5.2%
11.8%€105.00€70.00n/a18
Jan ’25n/a
€84.32
0%
10.8%€99.00€70.00n/a19
Dec ’24€72.74
€83.48
+14.8%
10.9%€103.00€70.00n/a19
Nov ’24€69.53
€83.37
+19.9%
10.1%€103.00€70.00€102.6819
Oct ’24€74.53
€88.88
+19.3%
30.1%€200.00€69.00€98.5120
Sep ’24€75.13
€86.33
+14.9%
31.9%€200.00€55.00€95.7420
Aug ’24n/a
€84.83
0%
33.1%€200.00€55.00€93.8820
Jul ’24€73.19
€81.52
+11.4%
35.3%€200.00€55.00€96.1420
Jun ’24€68.26
€80.50
+17.9%
35.8%€200.00€55.00n/a20
May ’24€68.48
€77.18
+12.7%
39.6%€200.00€55.00€92.2719
Apr ’24€67.50
€73.70
+9.2%
43.3%€200.00€39.00€101.6019
Mar ’24€66.05
€68.72
+4.0%
46.7%€200.00€39.00€89.5119
Feb ’24€62.86
€58.87
-6.4%
13.2%€71.00€39.00€85.0320
Jan ’24€53.90
€53.92
+0.03%
17.1%€71.00€36.00n/a20
Dec ’23€52.15
€53.97
+3.5%
18.6%€77.00€36.00€72.7420
Nov ’23€45.50
€53.91
+18.5%
21.1%€77.00€36.00€69.5319

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

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