Brederode Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: BREL (€105.8) is trading below our estimate of fair value (€132.28)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BREL. This is calculated by dividing BREL's market cap by their current earnings.
What is BREL's PE Ratio?
PE Ratio	11.4x
Earnings	€272.37m
Market Cap	€3.10b

BREL 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/Revenue	13.1x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BREL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	13x
LXMPR Luxempart	13.2x	n/a	€1.5b
REINI Reinet Investments S.C.A	4.4x	n/a	€4.6b
RCP RIT Capital Partners	11.3x	n/a	UK£2.7b
HICL HICL Infrastructure	23x	n/a	UK£2.4b
BREL Brederode	11.4x	n/a	€3.1b

Price-To-Earnings vs Peers: BREL is good value based on its Price-To-Earnings Ratio (11.4x) compared to the peer average (13x).

Price to Earnings Ratio vs Industry

How does BREL's PE Ratio compare vs other companies in the European Capital Markets Industry?

17 Companies	Price / Earnings	Estimated Growth	Market Cap

17 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: BREL is good value based on its Price-To-Earnings Ratio (11.4x) compared to the European Capital Markets industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is BREL'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.

BREL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	11.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BREL's Price-To-Earnings Fair Ratio for valuation analysis.

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 BREL forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€105.80	€127.00 +20.0%	1.6%	€129.00	€125.00	n/a	2
Nov ’25	€107.40	€127.00 +18.2%	1.6%	€129.00	€125.00	n/a	2
Oct ’25	€113.00	€127.00 +12.4%	1.6%	€129.00	€125.00	n/a	2
Sep ’25	€106.00	€127.00 +19.8%	1.6%	€129.00	€125.00	n/a	2
Aug ’25	€107.80	€127.00 +17.8%	1.6%	€129.00	€125.00	n/a	2
Jul ’25	€111.80	€127.00 +13.6%	1.6%	€129.00	€125.00	n/a	2
Jun ’25	€114.60	€127.00 +10.8%	1.6%	€129.00	€125.00	n/a	2
May ’25	€113.00	€127.00 +12.4%	1.6%	€129.00	€125.00	n/a	2
Apr ’25	€104.60	€127.00 +21.4%	1.6%	€129.00	€125.00	n/a	2
Mar ’25	€102.40	€123.50 +20.6%	4.5%	€129.00	€118.00	n/a	2
Feb ’25	€107.80	€123.50 +14.6%	4.5%	€129.00	€118.00	n/a	2
Jan ’25	€101.60	€123.50 +21.6%	4.5%	€129.00	€118.00	n/a	2
Dec ’24	€91.50	€120.00 +31.1%	1.7%	€122.00	€118.00	n/a	2
Nov ’24	€84.90	€120.00 +41.3%	1.7%	€122.00	€118.00	€107.40	2
Oct ’24	€95.00	€120.00 +26.3%	1.7%	€122.00	€118.00	€113.00	2
Sep ’24	€97.00	€120.00 +23.7%	1.7%	€122.00	€118.00	€106.00	2
Aug ’24	€100.20	€120.00 +19.8%	1.7%	€122.00	€118.00	€107.80	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.