We’ve recently updated our valuation analysis.

TT Electronics Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

TTG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.9x
Enterprise Value/EBITDA15.2x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TTG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average24.9x
KETL Strix Group
10.4x21.6%UK£216.5m
SOLI Solid State
37x24.9%UK£153.1m
ZYT Zytronic
23.3xn/aUK£14.2m
MIDW Midwich Group
28.7x7.4%UK£436.8m
TTG TT Electronics
29.7x27.6%UK£329.8m

Price-To-Earnings vs Peers: TTG is expensive based on its Price-To-Earnings Ratio (29.7x) compared to the peer average (24.9x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.1%
n/an/an/a

Price-To-Earnings vs Industry: TTG is expensive based on its Price-To-Earnings Ratio (29.7x) compared to the European Electronic industry average (23.3x)


Price to Earnings Ratio vs Fair Ratio

What is TTG'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.

TTG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.7x
Fair PE Ratio26.8x

Price-To-Earnings vs Fair Ratio: TTG is expensive based on its Price-To-Earnings Ratio (29.7x) compared to the estimated Fair Price-To-Earnings Ratio (26.8x).


Share Price vs Fair Value

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

Below Fair Value: TTG (£1.88) is trading below our estimate of fair value (£2.4)

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


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 TTG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.88
UK£2.51
+33.6%
14.0%UK£2.80UK£1.70n/a8
Jan ’24UK£1.74
UK£2.48
+42.2%
13.9%UK£2.80UK£1.70n/a8
Dec ’23UK£1.74
UK£2.46
+41.5%
14.2%UK£2.80UK£1.70n/a8
Nov ’23UK£1.31
UK£2.56
+94.8%
17.9%UK£3.25UK£1.65n/a8
Oct ’23UK£1.41
UK£2.77
+96.6%
11.7%UK£3.25UK£2.25n/a8
Sep ’23UK£1.49
UK£2.76
+85.2%
12.1%UK£3.25UK£2.25n/a8
Aug ’23UK£1.85
UK£2.81
+51.4%
14.3%UK£3.60UK£2.30n/a8
Jul ’23UK£1.71
UK£2.94
+71.8%
10.1%UK£3.60UK£2.70n/a8
Jun ’23UK£1.98
UK£2.94
+48.7%
10.1%UK£3.60UK£2.70n/a8
May ’23UK£1.82
UK£2.91
+59.3%
10.1%UK£3.60UK£2.65n/a9
Apr ’23UK£2.03
UK£2.93
+44.2%
10.0%UK£3.60UK£2.65n/a9
Mar ’23UK£2.10
UK£3.09
+47.4%
8.4%UK£3.60UK£2.65n/a9
Feb ’23UK£2.34
UK£3.12
+33.2%
8.4%UK£3.60UK£2.65n/a9
Jan ’23UK£2.56
UK£3.07
+20.0%
8.1%UK£3.50UK£2.65UK£1.749
Dec ’22UK£2.36
UK£3.07
+30.2%
8.1%UK£3.50UK£2.65UK£1.749
Nov ’22UK£2.52
UK£2.99
+19.1%
11.3%UK£3.50UK£2.25UK£1.319
Oct ’22UK£2.53
UK£2.98
+17.7%
11.7%UK£3.50UK£2.25UK£1.419
Sep ’22UK£2.80
UK£2.98
+6.3%
11.7%UK£3.50UK£2.25UK£1.499
Aug ’22UK£2.67
UK£2.85
+6.9%
9.1%UK£3.20UK£2.25UK£1.859
Jul ’22UK£2.60
UK£2.83
+8.8%
8.3%UK£3.10UK£2.25UK£1.719
Jun ’22UK£2.57
UK£2.83
+10.0%
8.3%UK£3.10UK£2.25UK£1.989
May ’22UK£2.38
UK£2.74
+15.3%
7.8%UK£3.05UK£2.25UK£1.828
Apr ’22UK£2.33
UK£2.68
+15.1%
9.4%UK£3.05UK£2.25UK£2.038
Mar ’22UK£2.04
UK£2.63
+28.7%
9.2%UK£3.00UK£2.25UK£2.108
Feb ’22UK£1.99
UK£2.63
+31.9%
9.2%UK£3.00UK£2.25UK£2.348
Jan ’22UK£2.05
UK£2.58
+25.9%
9.8%UK£3.00UK£2.15UK£2.568

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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