Spectris plc

LSE:SXS Stock Report

Market Cap: UK£2.4b

Spectris Valuation

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

Below Fair Value: SXS (£24.48) is trading below our estimate of fair value (£40.92)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SXS. This is calculated by dividing SXS's market cap by their current earnings.
What is SXS's PE Ratio?
PE Ratio8.8x
EarningsUK£274.20m
Market CapUK£2.42b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SXS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29x
RSW Renishaw
25x11.8%UK£2.4b
OXIG Oxford Instruments
22.9x10.0%UK£1.2b
HLMA Halma
36x8.3%UK£10.3b
BIG Big Technologies
32.1x26.9%UK£401.7m
SXS Spectris
8.8x-23.6%UK£2.4b

Price-To-Earnings vs Peers: SXS is good value based on its Price-To-Earnings Ratio (8.8x) compared to the peer average (29x).

Price to Earnings Ratio vs Industry

How does SXS's PE Ratio compare vs other companies in the European Electronic Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SXS 8.8xIndustry Avg. 19.0xNo. of Companies13PE01224364860+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SXS is good value based on its Price-To-Earnings Ratio (8.8x) compared to the European Electronic industry average (19x).

Price to Earnings Ratio vs Fair Ratio

What is SXS'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.

SXS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.8x
Fair PE Ratio12.5x

Price-To-Earnings vs Fair Ratio: SXS is good value based on its Price-To-Earnings Ratio (8.8x) compared to the estimated Fair Price-To-Earnings Ratio (12.5x).

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 SXS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£24.48
UK£30.26
+23.6%
9.1%UK£34.60UK£26.50n/a14
Dec ’25UK£25.30
UK£30.26
+19.6%
9.1%UK£34.60UK£26.50n/a14
Nov ’25UK£25.14
UK£31.18
+24.0%
7.8%UK£35.00UK£27.25n/a14
Oct ’25UK£26.90
UK£34.93
+29.8%
12.3%UK£41.90UK£27.75n/a13
Sep ’25UK£29.76
UK£36.41
+22.3%
9.3%UK£41.90UK£29.50n/a12
Aug ’25UK£29.66
UK£36.45
+22.9%
9.3%UK£41.90UK£29.50n/a12
Jul ’25UK£28.20
UK£36.50
+29.4%
10.9%UK£44.35UK£27.50n/a12
Jun ’25UK£32.70
UK£37.52
+14.7%
9.8%UK£44.35UK£29.50n/a12
May ’25UK£32.72
UK£37.51
+14.6%
10.3%UK£44.35UK£29.50n/a12
Apr ’25UK£33.07
UK£37.71
+14.0%
10.6%UK£45.00UK£29.50n/a12
Mar ’25UK£33.63
UK£38.31
+13.9%
10.9%UK£45.00UK£29.00n/a12
Feb ’25UK£37.26
UK£39.18
+5.1%
10.8%UK£45.00UK£29.00n/a13
Jan ’25UK£37.79
UK£38.95
+3.1%
10.8%UK£44.00UK£29.00n/a13
Dec ’24UK£33.79
UK£38.91
+15.2%
11.0%UK£44.00UK£28.50UK£25.3013
Nov ’24UK£31.10
UK£38.91
+25.1%
11.0%UK£44.00UK£28.50UK£25.1413
Oct ’24UK£33.94
UK£40.11
+18.2%
9.0%UK£44.00UK£31.00UK£26.9012
Sep ’24UK£33.13
UK£40.21
+21.4%
8.6%UK£44.00UK£31.00UK£29.7613
Aug ’24UK£34.50
UK£40.25
+16.7%
9.4%UK£44.00UK£31.00UK£29.6613
Jul ’24UK£35.95
UK£40.33
+12.2%
8.3%UK£44.00UK£33.00UK£28.2013
Jun ’24UK£36.95
UK£39.84
+7.8%
8.6%UK£44.00UK£33.00UK£32.7013
May ’24UK£37.59
UK£39.56
+5.2%
9.4%UK£44.00UK£32.30UK£32.7213
Apr ’24UK£36.59
UK£36.75
+0.4%
9.1%UK£42.00UK£29.50UK£33.0712
Mar ’24UK£35.54
UK£36.25
+2.0%
8.5%UK£40.00UK£29.50UK£33.6312
Feb ’24UK£32.22
UK£35.72
+10.9%
8.6%UK£39.20UK£29.50UK£37.2612
Jan ’24UK£30.02
UK£35.70
+18.9%
7.6%UK£39.20UK£30.50UK£37.7912
Dec ’23UK£31.98
UK£35.19
+10.0%
7.3%UK£38.35UK£30.50UK£33.7912

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 02:13
End of Day Share Price 2024/12/19 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Spectris plc is covered by 31 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christopher ThomasArden Partners Plc.
Richard PaigeBarclays
Jonathan HurnBarclays