B

Benefit Systems SA
WSE:BFT

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Benefit Systems SA
WSE:BFT
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Price: 2 895 PLN 0.7% Market Closed
Market Cap: 8.5B PLN
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Relative Value

The Relative Value of one BFT stock under the Base Case scenario is 3 631.42 PLN. Compared to the current market price of 2 895 PLN, Benefit Systems SA is Undervalued by 20%.

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.

BFT Relative Value
Base Case
3 631.42 PLN
Undervaluation 20%
Relative Value
Price
B
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
25
vs Industry
29
Median 3Y
2
Median 5Y
2
Industry
1.3
Forward
2.5
vs History
55
vs Industry
46
Median 3Y
17.2
Median 5Y
17.5
Industry
19
Forward
16.7
vs History
26
vs Industry
54
Median 3Y
7.4
Median 5Y
7.2
Industry
13.4
vs History
42
vs Industry
39
Median 3Y
19.4
Median 5Y
19.4
Industry
18.3
vs History
6
vs Industry
11
Median 3Y
5.2
Median 5Y
4.3
Industry
2.4
vs History
28
vs Industry
27
Median 3Y
2.3
Median 5Y
2.3
Industry
1.3
Forward
2.7
vs History
58
vs Industry
18
Median 3Y
7.4
Median 5Y
8
Industry
3.3
vs History
50
vs Industry
44
Median 3Y
8.5
Median 5Y
8.9
Industry
10.4
Forward
8.9
vs History
58
vs Industry
38
Median 3Y
14
Median 5Y
14.3
Industry
12.7
Forward
14.1
vs History
28
vs Industry
48
Median 3Y
8.5
Median 5Y
8.6
Industry
12.6
vs History
31
vs Industry
43
Median 3Y
10.2
Median 5Y
10.4
Industry
14.7
vs History
12
vs Industry
18
Median 3Y
2.7
Median 5Y
1.9
Industry
1.7

Multiples Across Competitors

BFT Competitors Multiples
Benefit Systems SA Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
PL
Benefit Systems SA
WSE:BFT
8.6B PLN 2.6 17.9 9.6 14.8
JP
Outsourcing Inc
TSE:2427
3 854 332.4T JPY 5 141 797.4 746 674 240.5 84 306 673.3 150 819 083.2
JP
Recruit Holdings Co Ltd
TSE:6098
18.5T JPY 5.3 51 32.6 41.2
US
Robert Half Inc
SWB:RHJ
11.5B EUR 2 42 38.4 46.8
US
Robert Half International Inc
NYSE:RHI
7.4B USD 1.3 26.1 23.1 28.2
NL
Randstad NV
AEX:RAND
6.9B EUR 0.3 16.1 7.7 12.9
US
TriNet Group Inc
NYSE:TNET
4.5B USD 0.9 17 12.4 15.1
CH
Adecco Group AG
SIX:ADEN
3.7B CHF 0.2 13.1 6.8 9.3
CN
51job Inc
F:IWQ
3.9B EUR 6.7 46.1 35.7 36.4
US
ASGN Inc
NYSE:ASGN
3.8B USD 0.9 20.7 11.3 14.9
US
Alight Inc
NYSE:ALIT
3.7B USD 1.4 -11.5 11.7 80.4
P/S Multiple
Revenue Growth P/S to Growth
PL
B
Benefit Systems SA
WSE:BFT
Average P/S: 467 438.1
2.6
58%
0
JP
Outsourcing Inc
TSE:2427
5 141 797.4
N/A N/A
JP
Recruit Holdings Co Ltd
TSE:6098
5.3
18%
0.3
US
R
Robert Half Inc
SWB:RHJ
2
2%
1.3
US
Robert Half International Inc
NYSE:RHI
1.3
2%
0.8
NL
R
Randstad NV
AEX:RAND
0.3
4%
0.1
US
TriNet Group Inc
NYSE:TNET
0.9
16%
0.1
CH
A
Adecco Group AG
SIX:ADEN
0.2
8%
0
CN
5
51job Inc
F:IWQ
6.7
N/A N/A
US
ASGN Inc
NYSE:ASGN
0.9
4%
0.2
US
Alight Inc
NYSE:ALIT
1.4
-24%
N/A
P/E Multiple
Earnings Growth P/E to Growth
PL
B
Benefit Systems SA
WSE:BFT
Average P/E: 74 667 449.1
17.9
35%
0.5
JP
Outsourcing Inc
TSE:2427
746 674 240.5
N/A N/A
JP
Recruit Holdings Co Ltd
TSE:6098
51
72%
0.7
US
R
Robert Half Inc
SWB:RHJ
42
4%
11
US
Robert Half International Inc
NYSE:RHI
26.1
4%
6.8
NL
R
Randstad NV
AEX:RAND
16.1
24%
0.7
US
TriNet Group Inc
NYSE:TNET
17
-11%
N/A
CH
A
Adecco Group AG
SIX:ADEN
13.1
96%
0.1
CN
5
51job Inc
F:IWQ
46.1
N/A N/A
US
ASGN Inc
NYSE:ASGN
20.7
35%
0.6
US
Alight Inc
NYSE:ALIT
Negative Multiple: -11.5 N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
PL
B
Benefit Systems SA
WSE:BFT
Average EV/EBITDA: 7 664 260.2
9.6
56%
0.2
JP
Outsourcing Inc
TSE:2427
84 306 673.3
N/A N/A
JP
Recruit Holdings Co Ltd
TSE:6098
32.6
46%
0.7
US
R
Robert Half Inc
SWB:RHJ
38.4
20%
1.9
US
Robert Half International Inc
NYSE:RHI
23.1
20%
1.1
NL
R
Randstad NV
AEX:RAND
7.7
5%
1.6
US
TriNet Group Inc
NYSE:TNET
12.4
-7%
N/A
CH
A
Adecco Group AG
SIX:ADEN
6.8
13%
0.5
CN
5
51job Inc
F:IWQ
35.7
N/A N/A
US
ASGN Inc
NYSE:ASGN
11.3
14%
0.8
US
Alight Inc
NYSE:ALIT
11.7
26%
0.4
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
PL
B
Benefit Systems SA
WSE:BFT
Average EV/EBIT: 13 710 853
14.8
50%
0.3
JP
Outsourcing Inc
TSE:2427
150 819 083.2
N/A N/A
JP
Recruit Holdings Co Ltd
TSE:6098
41.2
N/A N/A
US
R
Robert Half Inc
SWB:RHJ
46.8
21%
2.2
US
Robert Half International Inc
NYSE:RHI
28.2
21%
1.3
NL
R
Randstad NV
AEX:RAND
12.9
18%
0.7
US
TriNet Group Inc
NYSE:TNET
15.1
-20%
N/A
CH
A
Adecco Group AG
SIX:ADEN
9.3
21%
0.4
CN
5
51job Inc
F:IWQ
36.4
N/A N/A
US
ASGN Inc
NYSE:ASGN
14.9
9%
1.7
US
Alight Inc
NYSE:ALIT
80.4
-91%
N/A

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