Umicore SA

LSE:0RUY Stock Report

Market Cap: €2.5b

Umicore Valuation

Is 0RUY 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0RUY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0RUY (€10.58) is trading above our estimate of fair value (€1.13)

Significantly Below Fair Value: 0RUY is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As 0RUY is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0RUY. This is calculated by dividing 0RUY's market cap by their current revenue.
What is 0RUY's PS Ratio?
PS Ratio0.2x
Sales€15.72b
Market Cap€2.55b

Price to Sales Ratio vs Peers

How does 0RUY's PS Ratio compare to its peers?

The above table shows the PS ratio for 0RUY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.8x
JMAT Johnson Matthey
0.2x-50.4%UK£2.6b
CRDA Croda International
3.1x5.1%UK£5.0b
ELM Elementis
1.4x3.4%UK£804.0m
VCT Victrex
2.7x5.8%UK£770.5m
0RUY Umicore
0.2x-37.1%€2.5b

Price-To-Sales vs Peers: 0RUY is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1.8x).

Price to Sales Ratio vs Industry

How does 0RUY's PS Ratio compare vs other companies in the GB Chemicals Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.1.2x-8.5%
0RUY Umicore
 0.2x-37.1%US$2.68b
JMAT Johnson Matthey
0.2x-50.4%US$3.23b
SYNT Synthomer
0.1x5.0%US$350.65m
0RUY 0.2xIndustry Avg. 1.2xNo. of Companies6PS01.22.43.64.86+
7 CompaniesEstimated GrowthMarket Cap
Industry Avg.1.2x28.0%
0RUY Umicore
 0.2x102.0%US$2.68b
No more companies

Price-To-Sales vs Industry: 0RUY is good value based on its Price-To-Sales Ratio (0.2x) compared to the UK Chemicals industry average (1.2x).

Price to Sales Ratio vs Fair Ratio

What is 0RUY's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0RUY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.1x

Price-To-Sales vs Fair Ratio: 0RUY is expensive based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0.1x).

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 0RUY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.58
€14.15
+33.7%
19.3%€20.00€10.00n/a17
Nov ’25€11.28
€14.79
+31.2%
17.3%€20.00€10.00n/a17
Oct ’25€11.73
€14.85
+26.6%
16.5%€20.00€11.00n/a17
Sep ’25€11.38
€15.16
+33.2%
17.3%€20.00€11.00n/a17
Aug ’25€12.76
€15.73
+23.3%
19.3%€22.00€11.00n/a17
Jul ’25€13.69
€17.46
+27.6%
24.9%€29.00€13.00n/a17
Jun ’25€17.95
€21.97
+22.4%
16.1%€29.00€16.50n/a17
May ’25€21.00
€24.39
+16.1%
22.0%€40.00€18.00n/a18
Apr ’25€20.00
€24.81
+24.0%
21.0%€40.00€18.00n/a18
Mar ’25€19.78
€26.18
+32.3%
25.6%€46.00€18.00n/a20
Feb ’25€20.96
€27.15
+29.5%
22.8%€46.00€20.00n/a20
Jan ’25€24.91
€29.54
+18.6%
22.2%€50.00€21.00n/a20
Dec ’24€24.18
€29.84
+23.4%
21.2%€50.00€22.00n/a20
Nov ’24€22.36
€30.44
+36.1%
21.2%€50.00€22.00€11.2820
Oct ’24€22.48
€30.89
+37.4%
19.0%€50.00€22.00€11.7320
Sep ’24€24.56
€31.04
+26.4%
19.2%€50.00€22.00€11.3819
Aug ’24€26.87
€30.78
+14.5%
19.9%€50.00€22.00€12.7618
Jul ’24€25.46
€32.63
+28.2%
21.9%€53.00€22.00€13.6916
Jun ’24€26.30
€33.25
+26.4%
21.8%€53.00€22.00€17.9516
May ’24€29.70
€34.13
+14.9%
20.7%€53.00€25.00€21.0015
Apr ’24€31.10
€34.06
+9.5%
20.2%€53.00€25.00€20.0016
Mar ’24€31.85
€34.12
+7.1%
19.5%€53.00€25.00€19.7817
Feb ’24€34.11
€34.65
+1.6%
19.4%€53.00€25.00€20.9617
Jan ’24€34.61
€35.78
+3.4%
21.8%€54.00€25.00€24.9118
Dec ’23€34.30
€35.83
+4.5%
21.8%€54.00€25.00€24.1818
Nov ’23€33.46
€35.78
+6.9%
21.8%€54.00€25.00€22.3618

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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