Victrex plc

BATS-CHIXE:VCTL Stock Report

Market Cap: UK£769.6m

Victrex Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: VCTL (£8.82) is trading below our estimate of fair value (£19.09)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VCTL. This is calculated by dividing VCTL's market cap by their current earnings.
What is VCTL's PE Ratio?
PE Ratio25.1x
EarningsUK£30.70m
Market CapUK£769.59m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VCTL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.2x
TET Treatt
22.1x15.3%UK£250.2m
JMAT Johnson Matthey
23.6x28.5%UK£2.5b
CRDA Croda International
30.3x15.1%UK£4.9b
IOF Iofina
12.7xn/aUK£36.5m
VCTL Victrex
25.1x37.8%UK£769.6m

Price-To-Earnings vs Peers: VCTL is expensive based on its Price-To-Earnings Ratio (25.1x) compared to the peer average (22.2x).

Price to Earnings Ratio vs Industry

How does VCTL's PE Ratio compare vs other companies in the European Chemicals Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies13PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VCTL is expensive based on its Price-To-Earnings Ratio (25.1x) compared to the European Chemicals industry average (17.1x).

Price to Earnings Ratio vs Fair Ratio

What is VCTL'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.

VCTL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.1x
Fair PE Ratio21.9x

Price-To-Earnings vs Fair Ratio: VCTL is expensive based on its Price-To-Earnings Ratio (25.1x) compared to the estimated Fair Price-To-Earnings Ratio (21.9x).

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 VCTL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£8.82
UK£12.86
+45.9%
17.8%UK£16.80UK£8.50n/a12
Nov ’25UK£8.80
UK£12.86
+46.1%
17.8%UK£16.80UK£8.50n/a12
Oct ’25UK£9.70
UK£13.16
+35.7%
14.8%UK£16.80UK£10.00n/a12
Sep ’25UK£10.31
UK£13.16
+27.6%
14.8%UK£16.80UK£10.00n/a12
Aug ’25UK£10.82
UK£13.77
+27.3%
12.7%UK£16.80UK£11.50n/a12
Jul ’25UK£11.37
UK£14.22
+25.1%
12.2%UK£17.50UK£11.50n/a12
Jun ’25UK£12.60
UK£14.75
+17.1%
13.8%UK£18.00UK£11.50n/a12
May ’25UK£12.58
UK£15.13
+20.3%
13.3%UK£18.00UK£11.90n/a12
Apr ’25UK£12.85
UK£15.25
+18.6%
14.8%UK£18.30UK£11.90n/a11
Mar ’25UK£12.92
UK£15.21
+17.8%
14.2%UK£18.30UK£11.90n/a12
Feb ’25UK£13.67
UK£15.61
+14.2%
13.2%UK£18.30UK£11.90n/a12
Jan ’25UK£15.26
UK£16.49
+8.1%
14.6%UK£20.90UK£12.50n/a13
Dec ’24UK£14.64
UK£16.55
+13.1%
14.2%UK£20.90UK£12.50n/a13
Nov ’24UK£13.76
UK£16.48
+19.7%
14.5%UK£20.90UK£12.50UK£8.8013
Oct ’24UK£14.10
UK£17.07
+21.1%
13.9%UK£21.00UK£13.30UK£9.7014
Sep ’24UK£15.07
UK£17.24
+14.4%
13.0%UK£21.00UK£13.30UK£10.3114
Aug ’24UK£15.10
UK£17.31
+14.6%
12.8%UK£21.00UK£13.30UK£10.8214
Jul ’24UK£13.88
UK£17.59
+26.7%
12.8%UK£21.00UK£14.50UK£11.3714
Jun ’24UK£15.59
UK£18.94
+21.5%
14.7%UK£23.00UK£14.50UK£12.6014
May ’24UK£16.79
UK£19.74
+17.6%
12.9%UK£23.00UK£15.20UK£12.5814
Apr ’24UK£16.00
UK£20.05
+25.3%
12.6%UK£23.10UK£15.20UK£12.8515
Mar ’24UK£17.59
UK£20.15
+14.6%
11.9%UK£23.10UK£16.00UK£12.9215
Feb ’24UK£18.61
UK£20.24
+8.8%
10.5%UK£23.00UK£16.00UK£13.6715
Jan ’24UK£16.02
UK£20.21
+26.2%
10.6%UK£23.00UK£16.00UK£15.2615
Dec ’23UK£17.88
UK£20.87
+16.7%
13.5%UK£27.35UK£16.00UK£14.6415
Nov ’23UK£16.71
UK£20.87
+24.9%
13.5%UK£27.35UK£16.00UK£13.7615

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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