ForFarmers N.V.

ENXTAM:FFARM Stock Report

Market Cap: €290.7m

ForFarmers Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: FFARM (€3.28) is trading below our estimate of fair value (€11.23)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FFARM. This is calculated by dividing FFARM's market cap by their current earnings.
What is FFARM's PE Ratio?
PE Ratio16.7x
Earnings€17.40m
Market Cap€290.74m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FFARM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.4x
SCFNS Socfinasia
7.3xn/a€313.5m
KRETAM Kretam Holdings Berhad
10.4xn/aRM 1.4b
OIZ Origin Enterprises
8x16.5%€321.4m
SCL Scales
20.1x13.2%NZ$591.5m
FFARM ForFarmers
16.7x21.3%€290.7m

Price-To-Earnings vs Peers: FFARM is expensive based on its Price-To-Earnings Ratio (16.7x) compared to the peer average (11.5x).

Price to Earnings Ratio vs Industry

How does FFARM's PE Ratio compare vs other companies in the European Food Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FFARM 16.7xIndustry Avg. 13.3xNo. of Companies18PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FFARM is expensive based on its Price-To-Earnings Ratio (16.7x) compared to the European Food industry average (13.3x).

Price to Earnings Ratio vs Fair Ratio

What is FFARM'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.

FFARM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.7x
Fair PE Ratio18.6x

Price-To-Earnings vs Fair Ratio: FFARM is good value based on its Price-To-Earnings Ratio (16.7x) compared to the estimated Fair Price-To-Earnings Ratio (18.6x).

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 FFARM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.28
€3.68
+12.2%
2.0%€3.75€3.60n/a2
Nov ’25€3.41
€3.68
+7.9%
2.0%€3.75€3.60n/a2
Oct ’25€3.22
€3.55
+10.4%
1.4%€3.60€3.50n/a2
Sep ’25€3.07
€3.40
+10.7%
5.9%€3.60€3.20n/a2
Aug ’25€2.89
€3.30
+14.4%
9.1%€3.60€3.00n/a2
Jul ’25€2.88
€3.30
+14.6%
9.1%€3.60€3.00n/a2
Jun ’25€2.74
€3.30
+20.4%
9.1%€3.60€3.00n/a2
May ’25€2.42
€3.40
+40.5%
5.9%€3.60€3.20n/a2
Apr ’25€2.60
€3.40
+31.0%
5.9%€3.60€3.20n/a2
Mar ’25€2.40
€3.40
+41.7%
5.9%€3.60€3.20n/a2
Feb ’25€2.35
€3.40
+45.0%
5.9%€3.60€3.20n/a2
Jan ’25€2.38
€3.40
+42.9%
5.9%€3.60€3.20n/a2
Dec ’24€2.44
€3.40
+39.6%
5.9%€3.60€3.20n/a2
Nov ’24€2.34
€3.33
+42.5%
11.3%€3.60€2.80€3.413
Oct ’24€2.48
€3.33
+34.4%
11.3%€3.60€2.80€3.223
Sep ’24€2.44
€3.33
+36.6%
11.3%€3.60€2.80€3.073
Aug ’24€2.85
€3.40
+19.5%
5.9%€3.60€3.20€2.892
Nov ’23€2.45
€3.68
+50.0%
2.0%€3.75€3.60€2.342

Analyst Forecast: Target price is less than 20% higher than the current share price.

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