DD
DuPont de Nemours, Inc.
$136.25
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Fair Value
Trading 18.7% below fair value
You pay
$136.25
Bear
$134.06
Fair
$167.57
Bull
$201.09
Bear
$134.06
-1.6%
$7.82 × 17x P/E
Fair
$167.57
+23.0%
$7.82 × 21x P/E
Bull
$201.09
+47.6%
$7.82 × 26x P/E
Adjust Assumptions
21.4x
7.82$
Key Value Driver
Normalized P/E multiple (21x base case)
Implied Market Multiple
17.4x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (41 analysts)
$135.25
Divergence from AlphaVal
24%
Summary
Applying a 21x P/E to adjusted EPS of $7.82, the base-case value is $167.57 per share. DDM cross-check: $40.78.
Warnings
Dividend-based valuation: $40.78 (below our primary estimate by 76%). Large gaps may signal the dividend doesn't reflect full earning power.
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