HeidelbergCement AG (XETRA:HEI)

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Price: 119.95 EUR 0.63%

Market Cap: 21.8B EUR

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Section:

Relative Value

The Relative Value of one HEI stock under the Base Case scenario is 122.91 EUR. Compared to the current market price of 119.95 EUR, HeidelbergCement AG is Undervalued by 2%.

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.

What is Relative Valuation?

How is Relative Value calculated?

HEI Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

0.8

P/S

vs History	9
vs Industry	43

Median 5Y

0.6

Industry

0.8

Forward

More Details

2.9

P/E

vs History	76
vs Industry	50

Median 5Y

7.1

Industry

15.3

Forward

10.7

More Details

6.7

P/OCF

vs History	1
vs Industry	42

Median 5Y

4.4

Industry

8.9

More Details

13.5

P/FCFE

vs History	7
vs Industry	37

Median 5Y

-16.1

Industry

13.1

More Details

1.2

P/B

vs History	1
vs Industry	46

Median 5Y

0.8

Industry

1.2

More Details

EV/S

vs History	22
vs Industry	42

Median 5Y

0.9

Industry

Forward

1.2

More Details

N/A

EV/GP

vs History
vs Industry	73

Median 5Y

1.4

Industry

5.2

More Details

2.6

EV/EBITDA

vs History	90
vs Industry	53

Median 5Y

4.6

Industry

9.7

Forward

5.9

More Details

3.1

EV/EBIT

vs History	85
vs Industry	47

Median 5Y

7.7

Industry

12.4

Forward

8.2

More Details

8.1

EV/OCF

vs History	1
vs Industry	40

Median 5Y

6.3

Industry

10.1

More Details

13.3

EV/FCFF

vs History	41
vs Industry	30

Median 5Y

11.1

Industry

12.6

More Details

0.9

EV/IC

vs History	1
vs Industry	46

Median 5Y

0.6

Industry

0.8

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
DE		HeidelbergCement AG XETRA:HEI	21.8B EUR	0.8	2.9	2.6	3.1
IE	C	CRH PLC NYSE:CRH	63.9B USD	1	10.7	7	8.8
CH		Holcim AG SIX:HOLN	48.9B CHF	1.8	16.3	8.5	12.7
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	3.3T INR	4.7	50.5	26.6	36.4
US		Vulcan Materials Co NYSE:VMC	34.7B USD	4.7	41.1	19	27.6
US		Martin Marietta Materials Inc NYSE:MLM	32.4B USD	5	16.3	18.1	25.1
IN		Grasim Industries Ltd NSE:GRASIM	1.7T INR	1.3	38.3	9.9	12.1
CN		Anhui Conch Cement Co Ltd SSE:600585	127.2B CNY	1.2	18.3	10.4	10.4
IN		Ambuja Cements Ltd NSE:AMBUJACEM	1.4T INR	4.1	45.6	21.4	31.7
DE	H	Heidelberg Materials AG XMUN:HEI	13.8B EUR	0.5	1.8	1.8	2.1
IE		James Hardie Industries PLC ASX:JHX	21.9B AUD	3.5	31.1	13	15.8

				Revenue Growth	P/S to Growth
DE		HeidelbergCement AG XETRA:HEI	Average P/S: 2.6 0.8	9%	0.1
IE	C	CRH PLC NYSE:CRH	1	18%	0.1
CH		Holcim AG SIX:HOLN	1.8	11%	0.2
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	4.7	37%	0.1
US		Vulcan Materials Co NYSE:VMC	4.7	13%	0.4
US		Martin Marietta Materials Inc NYSE:MLM	5	17%	0.3
IN		Grasim Industries Ltd NSE:GRASIM	1.3	40%	0
CN		Anhui Conch Cement Co Ltd SSE:600585	1.2	-2%	N/A
IN		Ambuja Cements Ltd NSE:AMBUJACEM	4.1	52%	0.1
DE	H	Heidelberg Materials AG XMUN:HEI	0.5	9%	0.1
IE		James Hardie Industries PLC ASX:JHX	3.5	22%	0.2

				Earnings Growth	P/E to Growth
DE		HeidelbergCement AG XETRA:HEI	Average P/E: 24.8 2.9	26%	0.1
IE	C	CRH PLC NYSE:CRH	10.7	55%	0.2
CH		Holcim AG SIX:HOLN	16.3	34%	0.5
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	50.5	67%	0.8
US		Vulcan Materials Co NYSE:VMC	41.1	51%	0.8
US		Martin Marietta Materials Inc NYSE:MLM	16.3	26%	0.6
IN		Grasim Industries Ltd NSE:GRASIM	38.3	77%	0.5
CN		Anhui Conch Cement Co Ltd SSE:600585	18.3	3%	6.7
IN		Ambuja Cements Ltd NSE:AMBUJACEM	45.6	64%	0.7
DE	H	Heidelberg Materials AG XMUN:HEI	1.8	26%	0.1
IE		James Hardie Industries PLC ASX:JHX	31.1	73%	0.4

				EBITDA Growth	EV/EBITDA to Growth
DE		HeidelbergCement AG XETRA:HEI	Average EV/EBITDA: 12.6 2.6	29%	0.1
IE	C	CRH PLC NYSE:CRH	7	35%	0.2
CH		Holcim AG SIX:HOLN	8.5	22%	0.4
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	26.6	62%	0.4
US		Vulcan Materials Co NYSE:VMC	19	30%	0.6
US		Martin Marietta Materials Inc NYSE:MLM	18.1	23%	0.8
IN		Grasim Industries Ltd NSE:GRASIM	9.9	44%	0.2
CN		Anhui Conch Cement Co Ltd SSE:600585	10.4	77%	0.1
IN		Ambuja Cements Ltd NSE:AMBUJACEM	21.4	80%	0.3
DE	H	Heidelberg Materials AG XMUN:HEI	1.8	29%	0.1
IE		James Hardie Industries PLC ASX:JHX	13	25%	0.5

				EBIT Growth	EV/EBIT to Growth
DE		HeidelbergCement AG XETRA:HEI	Average EV/EBIT: 16.9 3.1	40%	0.1
IE	C	CRH PLC NYSE:CRH	8.8	42%	0.2
CH		Holcim AG SIX:HOLN	12.7	35%	0.4
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	36.4	67%	0.5
US		Vulcan Materials Co NYSE:VMC	27.6	40%	0.7
US		Martin Marietta Materials Inc NYSE:MLM	25.1	22%	1.1
IN		Grasim Industries Ltd NSE:GRASIM	12.1	83%	0.1
CN		Anhui Conch Cement Co Ltd SSE:600585	10.4	6%	1.6
IN		Ambuja Cements Ltd NSE:AMBUJACEM	31.7	79%	0.4
DE	H	Heidelberg Materials AG XMUN:HEI	2.1	40%	0.1
IE		James Hardie Industries PLC ASX:JHX	15.8	25%	0.6

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HeidelbergCement AG
XETRA:HEI

Relative Value

Valuation Multiples

Multiples Across Competitors

HEI Competitors Multiples
HeidelbergCement AG Competitors

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Company

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52 Week Range	78.92 126.9
Price Target

HeidelbergCement AG XETRA:HEI

Relative Value

Valuation Multiples

Multiples Across Competitors

HEI Competitors Multiples HeidelbergCement AG Competitors

See Also

Company

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HeidelbergCement AG
XETRA:HEI

HEI Competitors Multiples
HeidelbergCement AG Competitors