DD
DuPont de Nemours, Inc.
$48.12
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Undervalued
Trading 41.9% below fair value
You pay
$48.12
Bear
$66.20
Fair
$82.75
Bull
$99.30
Bear
$66.20
+37.6%
$4.38 × 17x P/E
Fair
$82.75
+72.0%
$4.38 × 21x P/E
Bull
$99.30
+106.4%
$4.38 × 26x P/E
Key Value Driver
Normalized P/E multiple (21x base case)
Implied Market Multiple
11.0x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $56.86 from 41 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $82.75 per share.
Warnings
Wall Street's average price target is $56.86 (from 41 analysts). Our estimate is 65% 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