Bechtle AG

LSE:0DPM Stock Report

Market Cap: €4.0b

Bechtle Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: 0DPM (€31.58) is trading below our estimate of fair value (€54.31)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0DPM. This is calculated by dividing 0DPM's market cap by their current earnings.
What is 0DPM's PE Ratio?
PE Ratio15.8x
Earnings€250.19m
Market Cap€3.96b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0DPM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.6x
SCT Softcat
26.6x8.6%UK£3.2b
CCC Computacenter
13.6x7.0%UK£2.3b
KNOS Kainos Group
18.6x1.7%UK£967.3m
FDM FDM Group (Holdings)
11.7x-7.3%UK£355.1m
0DPM Bechtle
15.8x9.4%€4.0b

Price-To-Earnings vs Peers: 0DPM is good value based on its Price-To-Earnings Ratio (15.8x) compared to the peer average (17.6x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0DPM 15.8xIndustry Avg. 17.4xNo. of Companies25PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0DPM is good value based on its Price-To-Earnings Ratio (15.8x) compared to the European IT industry average (17.7x).

Price to Earnings Ratio vs Fair Ratio

What is 0DPM'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.

0DPM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.8x
Fair PE Ratio41.3x

Price-To-Earnings vs Fair Ratio: 0DPM is good value based on its Price-To-Earnings Ratio (15.8x) compared to the estimated Fair Price-To-Earnings Ratio (41.3x).

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 0DPM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€31.58
€43.24
+36.9%
20.6%€57.00€28.50n/a14
Nov ’25€31.39
€48.49
+54.5%
16.0%€59.00€33.00n/a13
Oct ’25€39.87
€50.57
+26.8%
13.1%€59.00€37.00n/a13
Sep ’25€38.93
€50.03
+28.5%
15.5%€63.00€37.00n/a14
Aug ’25€40.84
€50.31
+23.2%
15.0%€63.00€38.00n/a14
Jul ’25€41.43
€52.75
+27.3%
15.4%€63.00€38.00n/a14
Jun ’25€44.49
€53.75
+20.8%
12.5%€63.00€38.00n/a14
May ’25€45.30
€54.54
+20.4%
11.4%€64.00€40.00n/a14
Apr ’25€48.82
€54.25
+11.1%
11.3%€64.00€40.00n/a14
Mar ’25€48.15
€53.21
+10.5%
11.7%€64.00€40.00n/a14
Feb ’25€48.96
€52.69
+7.6%
11.9%€64.00€41.00n/a13
Jan ’25€45.40
€51.75
+14.0%
11.3%€59.00€41.00n/a13
Dec ’24€43.20
€51.75
+19.8%
11.3%€59.00€41.00n/a13
Nov ’24€41.99
€50.21
+19.6%
16.0%€60.00€37.00€31.3912
Oct ’24€44.35
€50.13
+13.0%
15.9%€60.00€37.00€39.8712
Sep ’24€44.82
€49.71
+10.9%
16.4%€60.00€36.00€38.9312
Aug ’24€39.46
€47.88
+21.3%
18.5%€60.00€35.00€40.8412
Jul ’24€36.24
€47.29
+30.5%
18.0%€60.00€35.00€41.4313
Jun ’24€36.79
€48.27
+31.2%
16.1%€60.00€36.00€44.4914
May ’24€41.93
€48.77
+16.3%
16.8%€61.00€36.00€45.3014
Apr ’24€43.97
€48.41
+10.1%
17.1%€61.00€34.00€48.8214
Mar ’24€40.31
€47.47
+17.8%
20.0%€66.00€29.00€48.1514
Feb ’24€38.94
€46.88
+20.4%
21.0%€66.00€29.00€48.9614
Jan ’24€33.05
€48.00
+45.3%
17.3%€66.00€36.00€45.4014
Dec ’23€36.16
€48.00
+32.8%
17.3%€66.00€36.00€43.2014
Nov ’23€35.46
€52.04
+46.8%
14.5%€66.00€40.00€41.9912

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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