D&L Industries, Inc.

PSE:DNL Stock Report

Market Cap: ₱44.1b

D&L Industries Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: DNL (₱6.1) is trading above our estimate of fair value (₱2.64)

Significantly Below Fair Value: DNL is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DNL. This is calculated by dividing DNL's market cap by their current earnings.
What is DNL's PE Ratio?
PE Ratio18.8x
Earnings₱2.31b
Market Cap₱44.07b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DNL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.3x
NIKL Nickel Asia
16.3x9.7%₱44.4b
HLCM Holcim Philippines
22.4xn/a₱25.0b
OGP OceanaGold (Philippines)
23.7x38.6%₱32.9b
AT Atlas Consolidated Mining and Development
10.9xn/a₱14.8b
DNL D&L Industries
18.8x23.2%₱44.1b

Price-To-Earnings vs Peers: DNL is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the peer average (17x).

Price to Earnings Ratio vs Industry

How does DNL's PE Ratio compare vs other companies in the Asian Chemicals Industry?

41 CompaniesPrice / EarningsEstimated GrowthMarket Cap
DNL 18.8xIndustry Avg. 22.9xNo. of Companies178PE020406080100+
41 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DNL is good value based on its Price-To-Earnings Ratio (18.8x) compared to the Asian Chemicals industry average (22.9x).

Price to Earnings Ratio vs Fair Ratio

What is DNL'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.

DNL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.8x
Fair PE Ratio12.4x

Price-To-Earnings vs Fair Ratio: DNL is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the estimated Fair Price-To-Earnings Ratio (12.4x).

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 DNL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₱6.10
₱7.68
+25.8%
14.7%₱8.80₱5.80n/a4
Nov ’25₱6.25
₱7.90
+26.4%
16.1%₱9.00₱5.80n/a4
Oct ’25₱6.57
₱7.90
+20.2%
16.1%₱9.00₱5.80n/a4
Sep ’25₱6.20
₱7.94
+28.1%
14.3%₱9.00₱5.80n/a5
Aug ’25₱6.03
₱8.16
+35.3%
11.7%₱9.20₱6.50n/a5
Jul ’25₱6.00
₱8.16
+36.0%
11.7%₱9.20₱6.50n/a5
Jun ’25₱6.28
₱8.16
+29.9%
11.7%₱9.20₱6.50n/a5
May ’25₱6.25
₱8.04
+28.6%
12.5%₱9.20₱6.50n/a5
Apr ’25₱6.19
₱8.04
+29.9%
12.5%₱9.20₱6.50n/a5
Mar ’25₱6.89
₱7.79
+13.1%
14.1%₱9.20₱6.50n/a5
Feb ’25₱6.31
₱7.79
+23.5%
12.0%₱9.10₱7.00n/a3
Jan ’25₱6.31
₱9.14
+44.9%
12.2%₱10.00₱7.27n/a4
Dec ’24₱6.10
₱8.73
+43.2%
15.6%₱10.00₱6.50n/a5
Nov ’24₱6.40
₱8.73
+36.4%
15.6%₱10.00₱6.50₱6.255
Oct ’24₱6.42
₱8.73
+36.0%
15.6%₱10.00₱6.50₱6.575
Sep ’24₱6.69
₱9.18
+37.2%
16.8%₱10.80₱6.50₱6.206
Aug ’24₱7.20
₱9.19
+27.6%
16.7%₱10.80₱6.50₱6.036
Jul ’24₱7.30
₱9.19
+25.9%
16.7%₱10.80₱6.50₱6.006
Jun ’24₱6.88
₱9.19
+33.6%
16.7%₱10.80₱6.50₱6.286
May ’24₱8.39
₱9.72
+15.9%
16.8%₱10.80₱6.50₱6.255
Apr ’24₱8.21
₱9.45
+15.1%
18.2%₱10.70₱6.50₱6.194
Mar ’24₱7.81
₱9.45
+21.0%
18.2%₱10.70₱6.50₱6.894
Feb ’24₱8.49
₱9.45
+11.3%
18.2%₱10.70₱6.50₱6.314
Jan ’24₱7.90
₱9.46
+19.7%
16.3%₱10.70₱6.50₱6.315
Dec ’23₱7.97
₱9.46
+18.7%
16.3%₱10.70₱6.50₱6.105
Nov ’23₱7.86
₱9.18
+16.8%
15.4%₱10.60₱6.50₱6.405

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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