VPG
Vishay Precision Group, Inc.
$65.37
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 194.5% above fair value
You pay
$65.37
Bear
$17.76
Fair
$22.20
Bull
$26.64
Bear
$17.76
-72.8%
$1.48 × 12x P/E
Fair
$22.20
-66.0%
$1.48 × 15x P/E
Bull
$26.64
-59.2%
$1.48 × 18x P/E
Adjust Assumptions
15.0x
1.48$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
44.2x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (6 analysts)
$98.00
Divergence from AlphaVal
77%
Summary
Applying a 15x P/E to adjusted EPS of $1.48, the base-case value is $22.20 per share.
Warnings
The company's reported profits differ from official accounting profits by 270%. Check what costs are being left out of the adjusted number.
Wall Street's average price target is $98.00 (from 6 analysts). Our estimate is 77% 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