PLXS
Plexus Corp.
$254.11
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 81.8% above fair value
You pay
$254.11
Bear
$111.84
Fair
$139.80
Bull
$167.76
Bear
$111.84
-56.0%
$6.26 × 12x P/E
Fair
$139.80
-45.0%
$6.26 × 15x P/E
Bull
$167.76
-34.0%
$6.26 × 18x P/E
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
40.6x
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 $277.50 from 18 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $139.80 per share.
Warnings
Wall Street's average price target is $277.50 (from 18 analysts). Our estimate is 66% 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