ENS
EnerSys
$178.12
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 44.6% above fair value
You pay
$178.12
Bear
$107.80
Fair
$123.20
Bull
$138.60
Bear
$107.80
-39.5%
$7.70 × 14x P/E
Fair
$123.20
-30.8%
$7.70 × 16x P/E
Bull
$138.60
-22.2%
$7.70 × 18x P/E
Adjust Assumptions
16.0x
7.7$
Key Value Driver
Normalized P/E multiple (16x base case)
Implied Market Multiple
23.1x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (16 analysts)
$265.00
Divergence from AlphaVal
54%
Summary
Applying a 16x P/E to adjusted EPS of $7.70, the base-case value is $123.20 per share.
Warnings
Wall Street's average price target is $265.00 (from 16 analysts). Our estimate is 54% 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