BV
BrightView Holdings, Inc.
$10.60
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Overvalued
Trading 24.0% above fair value
You pay
$10.60
Bear
$6.84
Fair
$8.55
Bull
$10.26
Bear
$6.84
-35.5%
$0.57 × 12x P/E
Fair
$8.55
-19.3%
$0.57 × 15x P/E
Bull
$10.26
-3.2%
$0.57 × 18x P/E
Adjust Assumptions
15.0x
0.57$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
18.6x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (13 analysts)
$14.88
Divergence from AlphaVal
43%
Summary
Applying a 15x P/E to adjusted EPS of $0.57, the base-case value is $8.55 per share.
Warnings
Wall Street's average price target is $14.88 (from 13 analysts). Our estimate is 43% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples