Heidelberg Materials AG (XMUN:HEI)

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Price: 120 EUR 0.33%

Market Cap: 13.9B EUR

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Section:

Relative Value

The Relative Value of one HEI stock under the Base Case scenario is 154.38 EUR. Compared to the current market price of 120 EUR, Heidelberg Materials AG is Undervalued by 22%.

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

0.5

P/S

vs History	9
vs Industry	57

Median 5Y

0.4

Industry

0.8

Forward

0.7

More Details

1.8

P/E

vs History	74
vs Industry	61

Median 5Y

4.4

Industry

15.3

Forward

6.9

More Details

4.3

P/OCF

vs History	0
vs Industry	52

Median 5Y

2.7

Industry

8.9

More Details

8.7

P/FCFE

vs History	6
vs Industry	42

Median 5Y

-10.2

Industry

13.1

More Details

0.8

P/B

vs History	0
vs Industry	65

Median 5Y

0.5

Industry

1.2

More Details

0.7

EV/S

vs History	28
vs Industry	53

Median 5Y

0.6

Industry

Forward

0.9

More Details

N/A

EV/GP

vs History
vs Industry	79

Median 5Y

Industry

5.2

More Details

1.8

EV/EBITDA

vs History	90
vs Industry	61

Median 5Y

3.3

Industry

9.7

Forward

4.1

More Details

2.1

EV/EBIT

vs History	84
vs Industry	57

Median 5Y

5.6

Industry

12.4

Forward

5.7

More Details

5.7

EV/OCF

vs History	1
vs Industry	49

Median 5Y

4.7

Industry

10.1

More Details

9.3

EV/FCFF

vs History	41
vs Industry	36

Median 5Y

Industry

12.6

More Details

0.6

EV/IC

vs History	0
vs Industry	64

Median 5Y

0.5

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	H	Heidelberg Materials AG XMUN:HEI	13.9B EUR	0.5	1.8	1.8	2.1
IE	C	CRH PLC NYSE:CRH	64.3B USD	1	10.8	7.1	8.9
CH		Holcim AG SIX:HOLN	49.1B CHF	1.8	16.3	8.5	12.7
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	3.3T INR	4.6	50.1	26.4	36.2
US		Vulcan Materials Co NYSE:VMC	34.9B USD	4.7	41.3	19	27.7
US		Martin Marietta Materials Inc NYSE:MLM	32.5B USD	5	16.4	18.2	25.1
DE		HeidelbergCement AG XETRA:HEI	21.8B EUR	0.8	2.9	2.6	3.1
IN		Grasim Industries Ltd NSE:GRASIM	1.7T INR	1.2	38	9.8	12
CN		Anhui Conch Cement Co Ltd SSE:600585	128.8B CNY	1.2	18.5	10.6	10.6
IN		Ambuja Cements Ltd NSE:AMBUJACEM	1.3T INR	4.1	45	21.1	31.3
IE		James Hardie Industries PLC ASX:JHX	21.8B AUD	3.5	31	13	15.8

				Revenue Growth	P/S to Growth
DE	H	Heidelberg Materials AG XMUN:HEI	Average P/S: 2.6 0.5	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	4.6	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
DE		HeidelbergCement AG XETRA:HEI	0.8	9%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	1.2	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
IE		James Hardie Industries PLC ASX:JHX	3.5	22%	0.2

				Earnings Growth	P/E to Growth
DE	H	Heidelberg Materials AG XMUN:HEI	Average P/E: 24.7 1.8	26%	0.1
IE	C	CRH PLC NYSE:CRH	10.8	55%	0.2
CH		Holcim AG SIX:HOLN	16.3	34%	0.5
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	50.1	67%	0.7
US		Vulcan Materials Co NYSE:VMC	41.3	51%	0.8
US		Martin Marietta Materials Inc NYSE:MLM	16.4	26%	0.6
DE		HeidelbergCement AG XETRA:HEI	2.9	26%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	38	77%	0.5
CN		Anhui Conch Cement Co Ltd SSE:600585	18.5	3%	6.8
IN		Ambuja Cements Ltd NSE:AMBUJACEM	45	64%	0.7
IE		James Hardie Industries PLC ASX:JHX	31	73%	0.4

				EBITDA Growth	EV/EBITDA to Growth
DE	H	Heidelberg Materials AG XMUN:HEI	Average EV/EBITDA: 12.6 1.8	29%	0.1
IE	C	CRH PLC NYSE:CRH	7.1	35%	0.2
CH		Holcim AG SIX:HOLN	8.5	22%	0.4
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	26.4	62%	0.4
US		Vulcan Materials Co NYSE:VMC	19	30%	0.6
US		Martin Marietta Materials Inc NYSE:MLM	18.2	23%	0.8
DE		HeidelbergCement AG XETRA:HEI	2.6	29%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	9.8	44%	0.2
CN		Anhui Conch Cement Co Ltd SSE:600585	10.6	77%	0.1
IN		Ambuja Cements Ltd NSE:AMBUJACEM	21.1	80%	0.3
IE		James Hardie Industries PLC ASX:JHX	13	25%	0.5

				EBIT Growth	EV/EBIT to Growth
DE	H	Heidelberg Materials AG XMUN:HEI	Average EV/EBIT: 16.9 2.1	40%	0.1
IE	C	CRH PLC NYSE:CRH	8.9	42%	0.2
CH		Holcim AG SIX:HOLN	12.7	35%	0.4
IN		UltraTech Cement Ltd NSE:ULTRACEMCO	36.2	67%	0.5
US		Vulcan Materials Co NYSE:VMC	27.7	40%	0.7
US		Martin Marietta Materials Inc NYSE:MLM	25.1	22%	1.1
DE		HeidelbergCement AG XETRA:HEI	3.1	40%	0.1
IN		Grasim Industries Ltd NSE:GRASIM	12	83%	0.1
CN		Anhui Conch Cement Co Ltd SSE:600585	10.6	6%	1.6
IN		Ambuja Cements Ltd NSE:AMBUJACEM	31.3	79%	0.4
IE		James Hardie Industries PLC ASX:JHX	15.8	25%	0.6

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Heidelberg Materials AG
XMUN:HEI

Relative Value

Valuation Multiples

Multiples Across Competitors

HEI Competitors Multiples
Heidelberg Materials AG Competitors

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Company

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52 Week Range	79 126.75
Price Target

Heidelberg Materials AG XMUN:HEI

Relative Value

Valuation Multiples

Multiples Across Competitors

HEI Competitors Multiples Heidelberg Materials AG Competitors

See Also

Company

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Heidelberg Materials AG
XMUN:HEI

HEI Competitors Multiples
Heidelberg Materials AG Competitors