PLXS
Plexus Corp.
$220.78
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 135.1% above fair value
You pay
$220.78
Bear
$75.12
Fair
$93.90
Bull
$112.68
Bear
$75.12
-66.0%
$6.26 × 12x P/E
Fair
$93.90
-57.5%
$6.26 × 15x P/E
Bull
$112.68
-49.0%
$6.26 × 18x P/E
Adjust Assumptions
15.0x
6.26$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
35.3x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (19 analysts)
$303.75
Divergence from AlphaVal
69%
Summary
Applying a 15x P/E to adjusted EPS of $6.26, the base-case value is $93.90 per share.
Warnings
Wall Street's average price target is $303.75 (from 19 analysts). Our estimate is 69% 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