VG
Venture Global, Inc.
$13.51
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Undervalued
Trading 30.2% below fair value
You pay
$13.51
Bear
$15.48
Fair
$19.35
Bull
$23.22
Bear
$15.48
+14.6%
$0.86 × 18x P/E
Fair
$19.35
+43.2%
$0.86 × 22x P/E
Bull
$23.22
+71.9%
$0.86 × 27x P/E
Adjust Assumptions
22.5x
0.86$
Key Value Driver
Normalized P/E multiple (22x base case)
Implied Market Multiple
15.7x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (31 analysts)
$16.13
Divergence from AlphaVal
20%
Summary
Applying a 22x P/E to adjusted EPS of $0.86, the base-case value is $19.35 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