Zignago Vetro S.p.A.

LSE:0NNC Stock Report

Market Cap: €844.1m

Zignago Vetro Valuation

Is 0NNC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 0NNC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0NNC (€9.55) is trading below our estimate of fair value (€16.85)

Significantly Below Fair Value: 0NNC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0NNC?

Key metric: As 0NNC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0NNC. This is calculated by dividing 0NNC's market cap by their current earnings.
What is 0NNC's PE Ratio?
PE Ratio14.3x
Earnings€59.03m
Market Cap€844.11m

Price to Earnings Ratio vs Peers

How does 0NNC's PE Ratio compare to its peers?

The above table shows the PE ratio for 0NNC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average44.3x
VCT Victrex
24.6x37.8%UK£753.9m
MSLH Marshalls
39.2x28.2%UK£847.8m
IBST Ibstock
102.4x36.5%UK£742.8m
PAF Pan African Resources
10.8x29.0%UK£676.5m
0NNC Zignago Vetro
14.3x16.4%€844.1m

Price-To-Earnings vs Peers: 0NNC is good value based on its Price-To-Earnings Ratio (14.3x) compared to the peer average (44.3x).

Price to Earnings Ratio vs Industry

How does 0NNC's PE Ratio compare vs other companies in the European Packaging Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0NNC 14.3xIndustry Avg. 17.9xNo. of Companies7PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0NNC is good value based on its Price-To-Earnings Ratio (14.3x) compared to the European Packaging industry average (18x).

Price to Earnings Ratio vs Fair Ratio

What is 0NNC'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.

0NNC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.3x
Fair PE Ratio15.6x

Price-To-Earnings vs Fair Ratio: 0NNC is good value based on its Price-To-Earnings Ratio (14.3x) compared to the estimated Fair Price-To-Earnings Ratio (15.6x).

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 0NNC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€9.55
€12.70
+33.0%
5.4%€13.70€11.80n/a4
Nov ’25€10.54
€13.75
+30.5%
5.7%€14.50€12.50n/a4
Oct ’25€11.06
€13.75
+24.3%
5.7%€14.50€12.50n/a4
Sep ’25€10.80
€13.75
+27.3%
5.7%€14.50€12.50n/a4
Aug ’25€11.20
€14.38
+28.3%
3.2%€15.00€13.70n/a4
Jul ’25€11.88
€14.98
+26.1%
4.2%€16.00€14.40n/a4
Jun ’25€12.02
€16.98
+41.3%
23.9%€25.00€14.40n/a5
May ’25€12.52
€17.58
+40.4%
21.9%€25.00€14.40n/a5
Apr ’25€13.27
€17.90
+34.9%
20.6%€25.00€15.00n/a5
Mar ’25€13.08
€18.62
+42.4%
19.3%€25.00€15.00n/a5
Feb ’25€13.54
€19.32
+42.7%
16.2%€25.00€15.80n/a5
Jan ’25€14.00
€19.32
+38.0%
16.2%€25.00€15.80n/a5
Dec ’24€13.26
€19.32
+45.7%
16.2%€25.00€15.80n/a5
Nov ’24€12.34
€20.60
+66.9%
11.4%€24.50€18.50€10.544
Oct ’24€14.18
€20.60
+45.3%
11.4%€24.50€18.50€11.064
Sep ’24€16.04
€20.60
+28.4%
11.4%€24.50€18.50€10.804
Aug ’24€16.38
€20.48
+25.0%
12.1%€24.50€18.00€11.204
Jul ’24€15.56
€19.98
+28.4%
8.5%€22.50€18.00€11.884
Jun ’24€15.53
€19.98
+28.6%
9.3%€22.50€17.00€12.025
May ’24€17.22
€19.28
+12.0%
6.5%€20.50€17.00€12.525
Apr ’24€18.04
€19.28
+6.9%
6.5%€20.50€17.00€13.275
Mar ’24€17.48
€17.64
+0.9%
7.8%€20.00€16.00€13.085
Feb ’24€15.65
€16.00
+2.2%
5.6%€17.00€15.00€13.545
Jan ’24€14.16
€15.50
+9.5%
5.8%€17.00€14.50€14.005
Dec ’23€14.30
€15.50
+8.4%
5.8%€17.00€14.50€13.265
Nov ’23€12.70
€14.90
+17.3%
4.9%€15.60€13.90€12.344

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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