DD
DuPont de Nemours, Inc.
$126.94
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Fair Value
Trading 24.2% below fair value
You pay
$126.94
Bear
$134.06
Fair
$167.57
Bull
$201.09
Bear
$134.06
+5.6%
$7.82 × 17x P/E
Fair
$167.57
+32.0%
$7.82 × 21x P/E
Bull
$201.09
+58.4%
$7.82 × 26x P/E
Adjust Assumptions
21.4x
7.82$
Key Value Driver
Normalized P/E multiple (21x base case)
Implied Market Multiple
16.2x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (41 analysts)
$97.00
Divergence from AlphaVal
73%
Summary
Applying a 21x P/E to adjusted EPS of $7.82, the base-case value is $167.57 per share.
Warnings
Wall Street's average price target is $97.00 (from 41 analysts). Our estimate is 73% above 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