Fauji Fertilizer Bin Qasim Limited

KASE:FFBL Stock Report

Market Cap: PK₨97.5b

Fauji Fertilizer Bin Qasim Valuation

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

Below Fair Value: FFBL (PKR75.47) is trading above our estimate of fair value (PKR37.5)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FFBL. This is calculated by dividing FFBL's market cap by their current earnings.
What is FFBL's PE Ratio?
PE Ratio3.4x
EarningsPK₨28.31b
Market CapPK₨97.45b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FFBL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average5.7x
DAWH Dawood Hercules
3xn/aPK₨80.2b
FATIMA Fatima Fertilizer
4.5x7.9%PK₨147.5b
ENGRO Engro
5.9xn/aPK₨178.8b
EFERT Engro Fertilizers
9.6x15.9%PK₨278.7b
FFBL Fauji Fertilizer Bin Qasim
3.4x-52.7%PK₨97.5b

Price-To-Earnings vs Peers: FFBL is good value based on its Price-To-Earnings Ratio (3.4x) compared to the peer average (5.7x).

Price to Earnings Ratio vs Industry

How does FFBL's PE Ratio compare vs other companies in the PK Chemicals Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
FFBL 3.4xIndustry Avg. 9.1xNo. of Companies5PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FFBL is good value based on its Price-To-Earnings Ratio (3.4x) compared to the PK Chemicals industry average (9.1x).

Price to Earnings Ratio vs Fair Ratio

What is FFBL'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.

FFBL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.4x
Fair PE Ratio2.3x

Price-To-Earnings vs Fair Ratio: FFBL is expensive based on its Price-To-Earnings Ratio (3.4x) compared to the estimated Fair Price-To-Earnings Ratio (2.3x).

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 FFBL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentPK₨75.47
PK₨49.43
-34.5%
20.7%PK₨63.36PK₨33.20n/a6
Nov ’25PK₨66.26
PK₨49.43
-25.4%
20.7%PK₨63.36PK₨33.20n/a6
Oct ’25PK₨49.94
PK₨47.43
-5.0%
20.0%PK₨63.36PK₨33.20n/a6
Sep ’25PK₨46.17
PK₨47.43
+2.7%
20.0%PK₨63.36PK₨33.20n/a6
Aug ’25PK₨42.75
PK₨47.43
+10.9%
20.0%PK₨63.36PK₨33.20n/a6
Jul ’25PK₨36.63
PK₨38.18
+4.2%
13.8%PK₨45.00PK₨29.89n/a6
Jun ’25PK₨33.39
PK₨38.18
+14.4%
13.8%PK₨45.00PK₨29.89n/a6
May ’25PK₨36.14
PK₨38.35
+6.1%
14.3%PK₨46.00PK₨29.89n/a6
Apr ’25PK₨27.11
PK₨38.18
+40.8%
13.0%PK₨44.00PK₨29.89n/a6
Mar ’25PK₨26.37
PK₨38.18
+44.8%
13.0%PK₨44.00PK₨29.89n/a6
Feb ’25PK₨26.93
PK₨38.18
+41.8%
13.0%PK₨44.00PK₨29.89n/a6
Jan ’25PK₨32.07
PK₨26.79
-16.5%
37.6%PK₨42.00PK₨15.16n/a4
Dec ’24PK₨24.56
PK₨20.83
-15.2%
22.2%PK₨29.00PK₨15.16n/a5
Nov ’24PK₨18.85
PK₨20.83
+10.5%
22.2%PK₨29.00PK₨15.16PK₨66.265
Oct ’24PK₨13.74
PK₨19.94
+45.1%
17.9%PK₨26.60PK₨16.10PK₨49.945
Sep ’24PK₨13.01
PK₨19.94
+53.3%
17.9%PK₨26.60PK₨16.10PK₨46.175
Aug ’24PK₨13.94
PK₨18.10
+29.9%
7.1%PK₨20.00PK₨16.10PK₨42.756
Jul ’24PK₨11.78
PK₨19.27
+63.6%
10.2%PK₨22.00PK₨16.10PK₨36.636
Jun ’24PK₨11.20
PK₨23.52
+110.0%
44.9%PK₨49.00PK₨16.10PK₨33.397
May ’24PK₨12.45
PK₨24.52
+96.9%
42.1%PK₨49.00PK₨16.10PK₨36.147
Apr ’24PK₨12.47
PK₨26.20
+110.1%
39.9%PK₨49.00PK₨16.10PK₨27.118
Mar ’24PK₨12.19
PK₨26.45
+117.0%
37.4%PK₨49.00PK₨16.10PK₨26.379
Feb ’24PK₨13.40
PK₨27.89
+108.2%
34.9%PK₨49.00PK₨16.10PK₨26.9311
Jan ’24PK₨15.33
PK₨34.12
+122.6%
21.0%PK₨49.00PK₨27.00PK₨32.078
Dec ’23PK₨16.74
PK₨33.78
+101.8%
20.3%PK₨49.00PK₨27.00PK₨24.569
Nov ’23PK₨18.43
PK₨34.30
+86.1%
17.3%PK₨46.00PK₨27.78PK₨18.8510

Analyst Forecast: Target price is lower than the current share price.

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