SENEA
Seneca Foods Corporation
$170.09
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Undervalued
Trading 39.7% below fair value
You pay
$170.09
Bear
$232.26
Fair
$282.03
Bull
$331.80
Bear
$232.26
+36.6%
$16.59 × 14x P/E
Fair
$282.03
+65.8%
$16.59 × 17x P/E
Bull
$331.80
+95.1%
$16.59 × 20x P/E
Key Value Driver
Normalized P/E multiple (17x base case)
Implied Market Multiple
10.3x
Summary
Applying a 17x P/E to adjusted EPS of $16.59, the base-case value is $282.03 per share.
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