United Internet AG

LSE:0GE4 Stock Report

Market Cap: €2.7b

United Internet Valuation

Is 0GE4 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-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 0GE4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0GE4 (€15.73) is trading below our estimate of fair value (€201.77)

Significantly Below Fair Value: 0GE4 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0GE4?

Key metric: As 0GE4 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0GE4. This is calculated by dividing 0GE4's market cap by their current revenue.
What is 0GE4's PS Ratio?
PS Ratio0.4x
Sales€6.30b
Market Cap€2.72b

Price to Sales Ratio vs Peers

How does 0GE4's PS Ratio compare to its peers?

The above table shows the PS ratio for 0GE4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4x
HTWS Helios Towers
1.7x8.0%UK£1.0b
BT.A BT Group
0.8x0.2%UK£15.6b
ZEG Zegona Communications
10.6x37.6%UK£2.7b
GAMA Gamma Communications
2.8x7.0%UK£1.5b
0GE4 United Internet
0.4x4.0%€2.7b

Price-To-Sales vs Peers: 0GE4 is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (4x).

Price to Sales Ratio vs Industry

How does 0GE4's PS Ratio compare vs other companies in the European Telecom Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
0GE4 0.4xIndustry Avg. 1.1xNo. of Companies11PS012345+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 0GE4 is good value based on its Price-To-Sales Ratio (0.4x) compared to the European Telecom industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is 0GE4'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.

0GE4 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio0.9x

Price-To-Sales vs Fair Ratio: 0GE4 is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).

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 0GE4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€15.73
€25.81
+64.1%
26.3%€42.00€17.00n/a14
Nov ’25€19.07
€27.16
+42.4%
23.2%€42.00€18.50n/a14
Oct ’25€18.88
€27.24
+44.3%
23.0%€42.00€18.50n/a14
Sep ’25€19.14
€27.41
+43.2%
24.2%€43.00€18.50n/a14
Aug ’25€19.92
€28.54
+43.3%
20.2%€43.00€23.00n/a14
Jul ’25€20.49
€28.51
+39.1%
20.2%€43.00€23.00n/a14
Jun ’25€21.76
€28.45
+30.7%
20.5%€43.00€23.00n/a14
May ’25€22.78
€28.05
+23.1%
21.2%€43.00€23.00n/a14
Apr ’25€20.85
€27.91
+33.8%
21.7%€43.00€23.00n/a14
Mar ’25€22.42
€28.26
+26.1%
21.7%€43.00€23.00n/a14
Feb ’25€24.18
€28.01
+15.8%
22.6%€43.00€21.00n/a14
Jan ’25€22.94
€27.62
+20.4%
22.1%€40.00€20.50n/a14
Dec ’24€20.61
€26.36
+27.9%
27.9%€40.00€15.00n/a14
Nov ’24€19.81
€26.32
+32.9%
28.0%€40.00€15.00€19.0714
Oct ’24€20.25
€26.19
+29.3%
29.2%€40.00€15.00€18.8813
Sep ’24€17.78
€26.49
+49.0%
40.5%€55.00€15.00€19.1413
Aug ’24€13.59
€25.27
+85.9%
46.5%€55.00€14.50€19.9212
Jul ’24€12.85
€27.13
+111.0%
42.5%€55.00€14.50€20.4911
Jun ’24€13.42
€32.10
+139.2%
39.1%€55.00€14.50€21.7614
May ’24€15.56
€33.09
+112.6%
36.2%€55.00€17.00€22.7814
Apr ’24€15.92
€33.17
+108.3%
33.7%€55.00€18.50€20.8515
Mar ’24€20.57
€33.81
+64.3%
32.8%€55.00€20.00€22.4215
Feb ’24€21.36
€34.19
+60.1%
30.4%€55.00€20.00€24.1816
Jan ’24€18.99
€34.61
+82.2%
30.5%€55.00€20.00€22.9416
Dec ’23€20.51
€34.71
+69.2%
28.4%€55.00€20.00€20.6118
Nov ’23€19.33
€37.23
+92.6%
21.7%€55.00€24.50€19.8118

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.

Discover undervalued companies

Airtel Africa

UK£3.9b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

AAF

UK£1.06

7D

8.9%

1Y

-3.6%

Liberty Global

US$6.6b

Provides broadband internet, video, fixed-line telephony, and mobile communications services to residential and business customers.

0XHS

US$16.88

7D

-2.8%

1Y

-18.2%

Liberty Latin America

US$1.4b

Provides fixed, mobile, and subsea telecommunications services.

0MDR

US$7.18

7D

1.2%

1Y

5.1%