EE
Excelerate Energy, Inc.
$38.63
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Fair Value
Trading 20.9% below fair value
You pay
$38.63
Bear
$39.10
Fair
$48.87
Bull
$58.64
Bear
$39.10
+1.2%
$2.24 × 18x P/E
Fair
$48.87
+26.5%
$2.24 × 22x P/E
Bull
$58.64
+51.8%
$2.24 × 27x P/E
Key Value Driver
Normalized P/E multiple (22x base case)
Implied Market Multiple
17.2x
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 $44.00 from 15 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $48.87 per share.
Warnings
The company's reported profits differ from official accounting profits by 75%. Check what costs are being left out of the adjusted number.
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