Ultimate Products Plc

BATS-CHIXE:ULTPL Stock Report

Market Cap: UK£106.9m

Ultimate Products Valuation

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

Below Fair Value: ULTPL (£1.25) is trading below our estimate of fair value (£2.61)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ULTPL. This is calculated by dividing ULTPL's market cap by their current earnings.
What is ULTPL's PE Ratio?
PE Ratio10.2x
EarningsUK£10.53m
Market CapUK£106.89m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ULTPL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.4x
SNWS Smiths News
5.8x-2.7%UK£147.6m
SUP Supreme
9x-1.2%UK£202.9m
LIKE Likewise Group
40x48.5%UK£40.2m
INCH Inchcape
11x9.6%UK£3.1b
ULTPL Ultimate Products
10.2x10.8%UK£106.9m

Price-To-Earnings vs Peers: ULTPL is good value based on its Price-To-Earnings Ratio (10.2x) compared to the peer average (16.4x).

Price to Earnings Ratio vs Industry

How does ULTPL's PE Ratio compare vs other companies in the European Retail Distributors Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies4PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ULTPL is good value based on its Price-To-Earnings Ratio (10.2x) compared to the European Retail Distributors industry average (13.7x).

Price to Earnings Ratio vs Fair Ratio

What is ULTPL'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.

ULTPL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.2x
Fair PE Ratio13x

Price-To-Earnings vs Fair Ratio: ULTPL is good value based on its Price-To-Earnings Ratio (10.2x) compared to the estimated Fair Price-To-Earnings Ratio (13x).

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 ULTPL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.25
UK£1.89
+50.9%
4.2%UK£2.00UK£1.82n/a3
Nov ’25UK£1.39
UK£1.89
+35.7%
4.2%UK£2.00UK£1.82n/a3
Oct ’25UK£1.40
UK£1.89
+35.0%
4.2%UK£2.00UK£1.82n/a3
Sep ’25UK£1.45
UK£1.89
+30.3%
4.2%UK£2.00UK£1.82n/a3
Aug ’25UK£1.43
UK£1.89
+32.2%
4.2%UK£2.00UK£1.82n/a3
Jul ’25UK£1.48
UK£1.89
+27.7%
4.2%UK£2.00UK£1.82n/a3
Jun ’25UK£1.48
UK£1.89
+28.1%
4.2%UK£2.00UK£1.82n/a3
May ’25UK£1.82
UK£2.20
+20.9%
9.8%UK£2.50UK£2.00n/a3
Apr ’25UK£1.46
UK£2.20
+51.2%
9.8%UK£2.50UK£2.00n/a3
Mar ’25UK£1.49
UK£2.20
+47.7%
9.8%UK£2.50UK£2.00n/a3
Feb ’25UK£1.50
UK£2.20
+46.7%
9.8%UK£2.50UK£2.00n/a3
Jan ’25UK£1.48
UK£2.20
+49.2%
9.8%UK£2.50UK£2.00n/a3
Dec ’24UK£1.50
UK£2.20
+46.7%
9.8%UK£2.50UK£2.00n/a3
Nov ’24n/a
UK£2.20
0%
9.8%UK£2.50UK£2.00UK£1.393
Oct ’24n/a
UK£2.20
0%
9.8%UK£2.50UK£2.00UK£1.403
Sep ’24n/a
UK£2.20
0%
9.8%UK£2.50UK£2.00UK£1.453
Aug ’24n/a
UK£2.20
0%
9.8%UK£2.50UK£2.00UK£1.433
Jul ’24n/a
UK£2.17
0%
10.9%UK£2.50UK£2.00UK£1.483
Jun ’24n/a
UK£2.17
0%
10.9%UK£2.50UK£2.00UK£1.483
May ’24n/a
UK£2.17
0%
10.9%UK£2.50UK£2.00UK£1.823
Apr ’24n/a
UK£2.17
0%
10.9%UK£2.50UK£2.00UK£1.463

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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