CEZ a. s Valuation
Is CEZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation 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 CEZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: CEZ (PLN146.8) is trading below our estimate of fair value (PLN189.74)
Significantly Below Fair Value: CEZ is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for CEZ?
Other financial metrics that can be useful for relative valuation.
| What is CEZ's n/a Ratio? | |
|---|---|
| n/a | 0x |
| n/a | n/a |
| Market Cap | Kč458.70b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 1.8x |
| Enterprise Value/EBITDA | 4.9x |
| PEG Ratio | -14.8x |
Price to Earnings Ratio vs Peers
How does CEZ's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 9.7x | ||
TPE TAURON Polska Energia | 3.1x | 8.4% | zł5.2b |
ENG Energa | 3.8x | n/a | zł3.9b |
ZEP ZE PAK | 5.2x | -19.7% | zł1.0b |
PPL PPL | 27x | 11.9% | US$19.9b |
CEZ CEZ a. s | 15.5x | -1.0% | zł458.7b |
Price-To-Earnings vs Peers: CEZ is expensive based on its Price-To-Earnings Ratio (15.5x) compared to the peer average (9.7x).
Price to Earnings Ratio vs Industry
How does CEZ's PE Ratio compare vs other companies in the European Electric Utilities Industry?
Price-To-Earnings vs Industry: CEZ is expensive based on its Price-To-Earnings Ratio (15.5x) compared to the European Electric Utilities industry average (11.4x).
Price to Earnings Ratio vs Fair Ratio
What is CEZ'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 15.5x |
| Fair PE Ratio | 5.6x |
Price-To-Earnings vs Fair Ratio: CEZ is expensive based on its Price-To-Earnings Ratio (15.5x) compared to the estimated Fair Price-To-Earnings Ratio (5.6x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | zł146.80 | zł142.61 -2.9% | 16.0% | zł177.57 | zł103.04 | n/a | 11 |
| Apr ’25 | zł146.90 | zł145.24 -1.1% | 20.0% | zł212.17 | zł104.81 | n/a | 11 |
| Mar ’25 | zł139.50 | zł147.84 +6.0% | 20.2% | zł211.72 | zł104.58 | n/a | 10 |
| Feb ’25 | zł153.90 | zł160.23 +4.1% | 18.0% | zł219.39 | zł112.95 | n/a | 10 |
| Jan ’25 | zł169.00 | zł164.26 -2.8% | 15.7% | zł221.08 | zł131.05 | n/a | 10 |
| Dec ’24 | zł176.00 | zł167.28 -5.0% | 15.6% | zł221.83 | zł131.49 | n/a | 9 |
| Nov ’24 | zł179.00 | zł168.29 -6.0% | 16.0% | zł225.66 | zł134.13 | n/a | 9 |
| Oct ’24 | zł183.20 | zł176.14 -3.9% | 16.2% | zł237.06 | zł140.90 | n/a | 9 |
| Sep ’24 | zł177.90 | zł176.31 -0.9% | 20.7% | zł258.55 | zł137.35 | n/a | 11 |
| Aug ’24 | zł177.80 | zł175.35 -1.4% | 20.7% | zł256.41 | zł136.21 | n/a | 11 |
| Jul ’24 | zł169.70 | zł182.24 +7.4% | 20.2% | zł263.40 | zł139.92 | n/a | 11 |
| Jun ’24 | zł199.00 | zł183.99 -7.5% | 20.2% | zł265.68 | zł141.14 | n/a | 11 |
| May ’24 | zł224.80 | zł192.91 -14.2% | 19.3% | zł278.00 | zł155.66 | n/a | 11 |
| Apr ’24 | zł208.40 | zł188.81 -9.4% | 21.0% | zł275.71 | zł136.57 | zł146.90 | 11 |
| Mar ’24 | zł209.40 | zł197.31 -5.8% | 26.7% | zł325.77 | zł138.50 | zł139.50 | 11 |
| Feb ’24 | zł179.50 | zł193.42 +7.8% | 27.0% | zł321.08 | zł136.50 | zł153.90 | 11 |
| Jan ’24 | zł149.50 | zł193.09 +29.2% | 24.6% | zł311.17 | zł153.38 | zł169.00 | 11 |
| Dec ’23 | zł153.00 | zł200.52 +31.1% | 25.6% | zł312.22 | zł153.90 | zł176.00 | 11 |
| Nov ’23 | zł154.50 | zł221.14 +43.1% | 22.0% | zł320.18 | zł159.99 | zł179.00 | 11 |
| Oct ’23 | zł168.40 | zł228.94 +35.9% | 17.8% | zł311.16 | zł175.69 | zł183.20 | 11 |
| Sep ’23 | zł188.60 | zł226.27 +20.0% | 19.9% | zł312.08 | zł157.67 | zł177.90 | 11 |
| Aug ’23 | zł197.00 | zł220.23 +11.8% | 21.4% | zł315.26 | zł159.28 | zł177.80 | 11 |
| Jul ’23 | zł182.00 | zł207.32 +13.9% | 20.0% | zł308.71 | zł155.97 | zł169.70 | 11 |
| Jun ’23 | zł215.00 | zł193.89 -9.8% | 19.2% | zł300.97 | zł152.06 | zł199.00 | 11 |
| May ’23 | zł189.40 | zł183.55 -3.1% | 10.8% | zł209.06 | zł143.98 | zł224.80 | 12 |
| Apr ’23 | zł182.30 | zł175.33 -3.8% | 11.1% | zł206.72 | zł142.37 | zł208.40 | 12 |
Analyst Forecast: Target price is lower than the current share price.