KOP Koppers Holdings Inc.
$42.48
Stable Earnings Power 40%
P/Adj-EPS × Normalized Multiple
Mild · Conviction

Overvalued

Trading 3.4% above fair value

You pay $42.48
Bear $32.88
Fair $41.10
Bull $49.32
Bear $32.88 -22.6% $2.74 × 12x P/E
Fair $41.10 -3.2% $2.74 × 15x P/E
Bull $49.32 +16.1% $2.74 × 18x P/E

Adjust Assumptions

15.0x
2.74$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 15.5x

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above.

Average Target (14 analysts) $55.00
Divergence from AlphaVal 25%

Summary

Applying a 15x P/E to adjusted EPS of $2.74, the base-case value is $41.10 per share.

Warnings

ℹ Wall Street's average price target is $55.00 (from 14 analysts). Our estimate is 25% 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