Bayer Aktiengesellschaft

WSE:BAY Stock Report

Market Cap: zł79.6b

Bayer Valuation

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

Below Fair Value: BAY (PLN82.39) is trading below our estimate of fair value (PLN529.91)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for BAY. This is calculated by dividing BAY's market cap by their current revenue.
What is BAY's PS Ratio?
PS Ratio0.4x
Sales€46.74b
Market Cap€18.66b

Price to Sales Ratio vs Peers

How does BAY's PS Ratio compare to its peers?

The above table shows the PS ratio for BAY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.8x
CLN Celon Pharma
6.8x6.8%zł1.4b
SDZ Sandoz Group
1.8x5.3%CHF 16.5b
TEVA Teva Pharmaceutical Industries
1.4x3.4%US$24.1b
RPRX Royalty Pharma
5.1x5.5%US$15.2b
BAY Bayer
0.4x1.0%zł18.7b

Price-To-Sales vs Peers: BAY is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (3.8x).

Price to Sales Ratio vs Industry

How does BAY's PS Ratio compare vs other companies in the European Pharmaceuticals Industry?

19 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.3.0x6.7%
BAY Bayer
 0.4x1.0%US$19.23b
BAY 0.4xIndustry Avg. 3.0xNo. of Companies21PS048121620+
19 CompaniesEstimated GrowthMarket Cap
Industry Avg.3.0x14.4%
BAY Bayer
 0.4x43.3%US$19.23b
No more companies

Price-To-Sales vs Industry: BAY is good value based on its Price-To-Sales Ratio (0.4x) compared to the European Pharmaceuticals industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is BAY'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.

BAY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio12.1x

Price-To-Sales vs Fair Ratio: BAY is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (12.1x).

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 BAY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł82.39
zł119.33
+44.8%
22.5%zł192.17zł93.74n/a20
Dec ’25zł83.94
zł122.32
+45.7%
22.0%zł195.94zł95.58n/a20
Nov ’25zł108.56
zł151.07
+39.2%
30.7%zł295.63zł108.69n/a20
Oct ’25zł131.34
zł146.32
+11.4%
30.7%zł290.60zł106.84n/a21
Sep ’25zł119.68
zł150.91
+26.1%
34.1%zł289.82zł106.55n/a22
Aug ’25zł117.12
zł153.54
+31.1%
33.5%zł291.49zł107.17n/a22
Jul ’25zł113.60
zł156.12
+37.4%
32.9%zł293.40zł107.87n/a22
Jun ’25zł121.14
zł156.74
+29.4%
32.9%zł290.92zł106.96n/a22
May ’25zł120.22
zł159.33
+32.5%
33.3%zł293.58zł107.94n/a21
Apr ’25zł123.50
zł161.52
+30.8%
33.0%zł292.12zł107.40n/a20
Mar ’25zł120.56
zł187.67
+55.7%
30.0%zł323.75zł107.92n/a21
Feb ’25zł124.46
zł207.25
+66.5%
30.6%zł373.92zł108.70n/a21
Jan ’25zł148.56
zł217.65
+46.5%
28.5%zł372.00zł108.14n/a22
Dec ’24zł136.08
zł236.30
+73.6%
27.3%zł388.92zł155.57zł83.9422
Nov ’24zł182.92
zł285.28
+56.0%
18.3%zł400.38zł191.29zł108.5622
Oct ’24zł209.00
zł303.42
+45.2%
18.4%zł414.42zł198.00zł131.3421
Sep ’24zł231.65
zł298.10
+28.7%
16.6%zł402.15zł201.07zł119.6821
Aug ’24zł236.75
zł304.05
+28.4%
18.1%zł429.80zł199.39zł117.1221
Jul ’24zł235.00
zł326.76
+39.0%
16.2%zł434.18zł255.14zł113.6020
Jun ’24n/a
zł330.97
0%
15.9%zł440.70zł258.97zł121.1421
May ’24n/a
zł340.81
0%
16.1%zł458.63zł261.42zł120.2222
Apr ’24n/a
zł348.16
0%
16.2%zł467.66zł266.57zł123.5022
Mar ’24n/a
zł347.12
0%
16.5%zł462.53zł252.29zł120.5623
Feb ’24n/a
zł347.99
0%
18.0%zł498.52zł253.97zł124.4623
Jan ’24n/a
zł359.59
0%
17.4%zł497.12zł253.25zł148.5622

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.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/05 03:31
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bayer Aktiengesellschaft is covered by 57 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Martin SchneeAlphaValue
Knut WollerBaader Helvea Equity Research
null nullBanco de Sabadell. S.A.