Adcock Ingram Holdings Limited

JSE:AIP Stock Report

Market Cap: R9.9b

Adcock Ingram Holdings Valuation

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

Below Fair Value: AIP (ZAR67.21) is trading below our estimate of fair value (ZAR76.24)

Significantly Below Fair Value: AIP is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AIP. This is calculated by dividing AIP's market cap by their current earnings.
What is AIP's PE Ratio?
PE Ratio12.1x
EarningsR814.01m
Market CapR9.86b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AIP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.3x
APN Aspen Pharmacare Holdings
16.8x21.9%R73.9b
ASC Ascendis Health
13.7xn/aR569.4m
4569 KYORIN Pharmaceutical
17.9x-11.9%JP¥86.5b
603590 Beijing Konruns PharmaceuticalLtd
32.9x34.3%CN¥3.8b
AIP Adcock Ingram Holdings
12.1xn/aR9.9b

Price-To-Earnings vs Peers: AIP is good value based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (20.3x).

Price to Earnings Ratio vs Industry

How does AIP's PE Ratio compare vs other companies in the African Pharmaceuticals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
AIP 12.1xIndustry Avg. 12.9xNo. of Companies4PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AIP is good value based on its Price-To-Earnings Ratio (12.1x) compared to the African Pharmaceuticals industry average (12.7x).

Price to Earnings Ratio vs Fair Ratio

What is AIP'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.

AIP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AIP's Price-To-Earnings Fair Ratio for valuation analysis.

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 AIP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR67.21
R62.00
-7.8%
8.1%R67.00R57.00n/a2
Dec ’25R68.76
R62.00
-9.8%
8.1%R67.00R57.00n/a2
Nov ’25R68.06
R62.00
-8.9%
8.1%R67.00R57.00n/a2
Oct ’25R69.01
R62.00
-10.2%
8.1%R67.00R57.00n/a2
Sep ’25R64.50
R56.00
-13.2%
1.8%R57.00R55.00n/a2
Aug ’25R58.15
R56.00
-3.7%
1.8%R57.00R55.00n/a2
Jul ’25R61.00
R56.00
-8.2%
1.8%R57.00R55.00n/a2
Jun ’25R56.78
R56.00
-1.4%
1.8%R57.00R55.00n/a2
May ’25R55.69
R56.00
+0.6%
1.8%R57.00R55.00n/a2
Apr ’25R55.00
R56.00
+1.8%
1.8%R57.00R55.00n/a2
Mar ’25R55.65
R56.00
+0.6%
1.8%R57.00R55.00n/a2
Feb ’25R55.10
R55.97
+1.6%
1.7%R56.94R55.00n/a2
Jan ’25R60.10
R55.97
-6.9%
1.7%R56.94R55.00n/a2
Dec ’24R54.00
R55.97
+3.6%
1.7%R56.94R55.00R68.762
Nov ’24R55.50
R55.97
+0.8%
1.7%R56.94R55.00R68.062
Oct ’24R57.00
R54.00
-5.3%
1.9%R55.00R53.00R69.012
Sep ’24R55.68
R54.00
-3.0%
1.9%R55.00R53.00R64.502
Aug ’24R53.55
R54.00
+0.8%
1.9%R55.00R53.00R58.152
Jul ’24R56.30
R54.00
-4.1%
1.9%R55.00R53.00R61.002
Jun ’24R51.70
R54.00
+4.4%
1.9%R55.00R53.00R56.782
May ’24R50.10
R54.00
+7.8%
1.9%R55.00R53.00R55.692
Apr ’24R51.25
R54.00
+5.4%
1.9%R55.00R53.00R55.002
Mar ’24R53.00
R54.00
+1.9%
1.9%R55.00R53.00R55.652
Feb ’24R51.30
R54.00
+5.3%
1.9%R55.00R53.00R55.102
Jan ’24R50.50
R52.50
+4.0%
4.8%R55.00R50.00R60.102
Dec ’23R49.80
R52.50
+5.4%
4.8%R55.00R50.00R54.002

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 03:02
End of Day Share Price 2024/12/30 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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

Adcock Ingram Holdings Limited is covered by 13 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dan LeechBNP Paribas Securities (Asia)
Marcelle JankelowCitigroup Inc
Mark WadleyCredit Suisse