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Relative Value

The Relative Value of one OCI stock under the Base Case scenario is 14.534 EUR. Compared to the current market price of 10.905 EUR, OCI NV is Undervalued by 25%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

OCI Relative Value
Base Case
14.534 EUR
Undervaluation 25%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
14
vs Industry
63
Median 3Y
0.3
Median 5Y
0.3
Industry
1.5
Forward
0.9
vs History
vs Industry
48
Median 3Y
1.5
Median 5Y
-1.4
Industry
21.7
Forward
-1 052.2
vs History
4
vs Industry
49
Median 3Y
1.2
Median 5Y
1.9
Industry
13
vs History
9
vs Industry
51
Median 3Y
2.1
Median 5Y
1.4
Industry
20.5
vs History
12
vs Industry
7
Median 3Y
1.4
Median 5Y
1.2
Industry
1.6
vs History
28
vs Industry
53
Median 3Y
0.6
Median 5Y
0.9
Industry
1.6
Forward
1.6
vs History
4
vs Industry
15
Median 3Y
1.8
Median 5Y
6
Industry
7.2
vs History
vs Industry
16
Median 3Y
0.7
Median 5Y
2.1
Industry
13.2
Forward
7.8
vs History
vs Industry
64
Median 3Y
0.8
Median 5Y
2.9
Industry
17.5
Forward
19.6
vs History
33
vs Industry
41
Median 3Y
2.4
Median 5Y
5.1
Industry
13.9
vs History
19
vs Industry
6
Median 3Y
3.4
Median 5Y
10.1
Industry
19.1
vs History
85
vs Industry
58
Median 3Y
0.6
Median 5Y
0.6
Industry
1.3

Multiples Across Competitors

OCI Competitors Multiples
OCI NV Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
NL
OCI NV
AEX:OCI
2.3B EUR 0.6 -4.8 -10.8 -11.1
US
Corteva Inc
NYSE:CTVA
39.5B USD 2.4 57 13.2 21.5
CA
Nutrien Ltd
TSX:NTR
31.6B CAD 0.8 30 6.8 12.4
US
CF Industries Holdings Inc
NYSE:CF
14.8B USD 2.5 12.8 6.1 9.4
SA
SABIC Agri-Nutrients Company SJSC
SAU:2020
53.8B SAR 5 15.1 9.8 12.5
CN
Qinghai Salt Lake Industry Co Ltd
SZSE:000792
89.5B CNY 5.6 16.5 11.6 11.6
CL
Sociedad Quimica y Minera de Chile SA
NYSE:SQM
10.7B USD 1 2.8 1.9 1.9
RU
PhosAgro PAO
MOEX:PHOR
829.1B RUB 1.7 8.8 5.9 7.6
US
Mosaic Co
NYSE:MOS
7.7B USD 0.7 20.8 6.3 14.2
RU
Akron PAO
LSE:AKRN
7.4B USD 4.1 27.7 14.6 16.9
IN
Fertilisers And Chemicals Travancore Ltd
NSE:FACT
612.2B INR 14.6 -895.8 1 037.2 1 968.4
P/E Multiple
Earnings Growth P/E to Growth
NL
OCI NV
AEX:OCI
Average P/E: 21.3
Negative Multiple: -4.8
N/A N/A
US
Corteva Inc
NYSE:CTVA
57
246%
0.2
CA
Nutrien Ltd
TSX:NTR
30
52%
0.6
US
CF Industries Holdings Inc
NYSE:CF
12.8
-32%
N/A
SA
SABIC Agri-Nutrients Company SJSC
SAU:2020
15.1
0%
N/A
CN
Qinghai Salt Lake Industry Co Ltd
SZSE:000792
16.5
-17%
N/A
CL
Sociedad Quimica y Minera de Chile SA
NYSE:SQM
2.8
-49%
N/A
RU
PhosAgro PAO
MOEX:PHOR
8.8
N/A N/A
US
Mosaic Co
NYSE:MOS
20.8
-40%
N/A
RU
A
Akron PAO
LSE:AKRN
27.7
N/A N/A
IN
Fertilisers And Chemicals Travancore Ltd
NSE:FACT
Negative Multiple: -895.8 N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
NL
OCI NV
AEX:OCI
Average EV/EBITDA: 111.3
Negative Multiple: -10.8
N/A N/A
US
Corteva Inc
NYSE:CTVA
13.2
28%
0.5
CA
Nutrien Ltd
TSX:NTR
6.8
-11%
N/A
US
CF Industries Holdings Inc
NYSE:CF
6.1
-25%
N/A
SA
SABIC Agri-Nutrients Company SJSC
SAU:2020
9.8
-2%
N/A
CN
Qinghai Salt Lake Industry Co Ltd
SZSE:000792
11.6
-11%
N/A
CL
Sociedad Quimica y Minera de Chile SA
NYSE:SQM
1.9
-100%
N/A
RU
PhosAgro PAO
MOEX:PHOR
5.9
N/A N/A
US
Mosaic Co
NYSE:MOS
6.3
-21%
N/A
RU
A
Akron PAO
LSE:AKRN
14.6
N/A N/A
IN
Fertilisers And Chemicals Travancore Ltd
NSE:FACT
1 037.2
N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
NL
OCI NV
AEX:OCI
Average EV/EBIT: 207.6
Negative Multiple: -11.1
N/A N/A
US
Corteva Inc
NYSE:CTVA
21.5
54%
0.4
CA
Nutrien Ltd
TSX:NTR
12.4
-12%
N/A
US
CF Industries Holdings Inc
NYSE:CF
9.4
-34%
N/A
SA
SABIC Agri-Nutrients Company SJSC
SAU:2020
12.5
2%
8.1
CN
Qinghai Salt Lake Industry Co Ltd
SZSE:000792
11.6
-24%
N/A
CL
Sociedad Quimica y Minera de Chile SA
NYSE:SQM
1.9
-100%
N/A
RU
PhosAgro PAO
MOEX:PHOR
7.6
N/A N/A
US
Mosaic Co
NYSE:MOS
14.2
-45%
N/A
RU
A
Akron PAO
LSE:AKRN
16.9
N/A N/A
IN
Fertilisers And Chemicals Travancore Ltd
NSE:FACT
1 968.4
N/A N/A

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