Preformed Line Products Company

PLPC

IndustrialsElectrical Equipment & PartsNASDAQ

$356.98

Market Cap: $1.74B

Preformed Line Products Company (PLPC) Valuation Summary

Updated Apr 6, 2026 22:28

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$114.56 – $319.13	$164.51	-43.7%
Growth Exit 10Y	$134.53 – $368.95	$192.27	-34.2%
EBITDA Exit 5Y	$176.16 – $371.26	$265.58	-9.1%
EBITDA Exit 10Y	$173.95 – $383.07	$262.98	-10.0%
▸ Trading Multiples
P/E	$101.86 – $231.87	$125.30	-57.1%
EV/EBITDA	$152.35 – $228.70	$223.11	-23.6%
EV/Revenue	$152.46 – $735.92	$418.84	+43.4%
▸ PEG
PEG Fair Value	$57.12 – $57.12	$57.12	-80.4%
▸ Earnings Power Value
Earnings Power Value	$94.48 – $132.83	$110.20	-62.3%
▸ Dividend Discount
Dividend Discount	$9.55 – $20.75	$12.72	-95.6%

Valuation History

DCF Analysis

Fair Value

$164.51

Market Price

$356.98

Upside / Downside

-53.9%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Preformed Line Products Company's cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 14.9% to 6.7% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 66, DPO 39, DIO 121). At a 8.3% WACC with mid-year discounting, the terminal value (77% of enterprise value) is derived from the Gordon Growth Model on Year 6 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $164.51 per share, suggesting PLPC is overvalued by 53.9% at the current price of $356.98.

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	79	84	91	85	91	93
(−) Net Interest	3	3	4	3	4	4
(+) D&A	30	33	33	34	39	40
EBITDA	112	121	128	123	134	138

(−) Tax	20	21	23	21	23	23
(−) CapEx	36	39	42	40	42	43
(−) ΔWC	43	19	23	-19	18	19
Free Cash Flow (FCFF)	13	42	40	81	51	52

Terminal Value						892
WACC / Discount Rate	8.3%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	12	38	33	61	35	598

Enterprise Value	778
Projection Period	180	23.1%
Terminal Value	598	76.9%

(−) Current Net Debt	(35)

Equity Value	813
(/) Outstanding Shares	5

Fair Price	$164.51

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.3%	$206	$224	$248	$278	$319
7.3%	$171	$183	$197	$215	$237
8.3%	$147	$155	$165	$176	$190
9.3%	$129	$134	$141	$149	$158
10.3%	$115	$119	$124	$129	$136

Current price: $356.98. Green = undervalued, Red = overvalued.

Fair Value

$192.27

Market Price

$356.98

Upside / Downside

-46.1%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Preformed Line Products Company's cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 14.9% to 3.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 66, DPO 39, DIO 121). At a 8.3% WACC with mid-year discounting, the terminal value (62% of enterprise value) is derived from the Gordon Growth Model on Year 11 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $192.27 per share, suggesting PLPC is overvalued by 46.1% at the current price of $356.98.

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	79	84	91	85	91	97	102	107	111	115	118
(−) Net Interest	3	3	4	3	4	4	4	4	4	5	5
(+) D&A	30	33	33	34	39	40	42	43	45	47	48
EBITDA	112	121	128	123	134	140	148	154	160	167	171

(−) Tax	20	21	23	21	23	24	26	27	28	29	30
(−) CapEx	36	39	42	40	42	45	47	49	52	53	55
(−) ΔWC	43	19	23	-19	18	18	17	16	15	13	13
Free Cash Flow (FCFF)	13	42	40	81	51	54	58	62	66	72	73

Terminal Value											1,258
WACC / Discount Rate	8.3%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	12	38	33	61	35	34	34	34	34	33	565

Enterprise Value	915
Projection Period	349	38.2%
Terminal Value	565	61.8%

(−) Current Net Debt	(35)

Equity Value	950
(/) Outstanding Shares	5

Fair Price	$192.27

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.3%	$251	$271	$295	$326	$369
7.3%	$207	$219	$233	$250	$272
8.3%	$176	$183	$192	$203	$216
9.3%	$152	$158	$164	$171	$179
10.3%	$135	$138	$143	$147	$153

Current price: $356.98. Green = undervalued, Red = overvalued.

Fair Value

$265.50

Market Price

$356.98

Upside / Downside

-25.6%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Preformed Line Products Company's cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 14.9% to 6.7% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 66, DPO 39, DIO 121). At a 8.3% WACC with mid-year discounting, the terminal value (86% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 11.9x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $265.58 per share, suggesting PLPC is overvalued by 25.6% at the current price of $356.98.

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

EV/EBITDA Exit Multiple

11.89x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	79	84	91	85	91	93
(−) Net Interest	3	3	4	3	4	4
(+) D&A	30	33	33	34	39	40
EBITDA	112	121	128	123	134	138

(−) Tax	20	21	23	21	23	—
(−) CapEx	36	39	42	40	42	—
(−) ΔWC	43	19	23	-19	18	—
Free Cash Flow (FCF)	13	42	40	81	51	—

Peers' EBITDA Multiple						11.9x
Terminal Value						1,637
WACC / Discount Rate	8.33%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	12	38	33	61	35	1,097

Enterprise Value	1,277
Projection Period	180	14.1%
Terminal Value	1,097	85.9%

(−) Current Net Debt	(35)
Equity Value	1,312
(÷) Outstanding Shares	5M
Fair Price	$265	-25.6%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	7.9x	9.9x	11.9x	13.9x	15.9x
6.3%	$207	$248	$289	$330	$371
7.3%	$199	$238	$277	$316	$355
8.3%	$191	$228	$266	$303	$340
9.3%	$183	$219	$255	$290	$326
10.3%	$176	$210	$244	$278	$312

Current price: $356.98. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$262.91

Market Price

$356.98

Upside / Downside

-26.4%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Preformed Line Products Company's cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 14.9% to 3.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 66, DPO 39, DIO 121). At a 8.3% WACC with mid-year discounting, the terminal value (72% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 11.9x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $262.98 per share, suggesting PLPC is overvalued by 26.3% at the current price of $356.98.

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

EV/EBITDA Exit Multiple

11.89x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	79	84	91	85	91	97	102	107	111	115	118
(−) Net Interest	3	3	4	3	4	4	4	4	4	5	5
(+) D&A	30	33	33	34	39	40	42	43	45	47	48
EBITDA	112	121	128	123	134	140	148	154	160	167	171

(−) Tax	20	21	23	21	23	24	26	27	28	29	—
(−) CapEx	36	39	42	40	42	45	47	49	52	53	—
(−) ΔWC	43	19	23	-19	18	18	17	16	15	13	—
Free Cash Flow (FCF)	13	42	40	81	51	54	58	62	66	72	—

Peers' EBITDA Multiple											11.9x
Terminal Value											2,035
WACC / Discount Rate	8.33%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	12	38	33	61	35	34	34	34	34	33	914

Enterprise Value	1,264
Projection Period	349	27.7%
Terminal Value	914	72.3%

(−) Current Net Debt	(35)
Equity Value	1,299
(÷) Outstanding Shares	5M
Fair Price	$263	-26.4%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	7.9x	9.9x	11.9x	13.9x	15.9x
6.3%	$233	$271	$308	$346	$383
7.3%	$216	$250	$284	$319	$353
8.3%	$201	$232	$263	$294	$325
9.3%	$187	$215	$244	$272	$300
10.3%	$174	$200	$226	$252	$278

Current price: $356.98. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$125.30

Market Price

$356.98

Upside / Downside

-64.9%

Verdict

Overvalued

Using the industry peer median P/E Multiples multiple (trailing + forward), Preformed Line Products Company (PLPC) has a fair value of $125.30 based on 6 comparable companies in the Electrical Equipment & Parts industry.

P/E Valuation — Electrical Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing P/E	Forward P/E
Preformed Line Products CompanyPLPC	1,764	50.0x	50.4x
Okeanis Eco Tankers Corp.ECO	1,679	13.6x	14.3x
Thermon Group Holdings, Inc.THR	1,676	32.5x	28.3x
Astec Industries, Inc.ASTE	1,265	32.9x	—
Global Industrial CompanyGIC	1,216	17.1x	17.5x
Limbach Holdings, Inc.LMB	936	19.9x	31.4x
Barrett Business Services, Inc.BBSI	764	14.3x	16.0x
Industry Median		18.5x	17.5x
(*) Profit after tax		35	35
Equity Value		653	586
(/) Outstanding shares		5	5
Fair Price		$132	$118

Selected Fair Value (avg of trailing + forward)

$125.30

-64.9%

Fair Value

$223.11

Market Price

$356.98

Upside / Downside

-37.5%

Verdict

Overvalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), Preformed Line Products Company (PLPC) has a fair value of $223.11 based on 7 comparable companies in the Electrical Equipment & Parts industry.

EV/EBITDA Valuation — Electrical Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
Preformed Line Products CompanyPLPC	1,764	22.1x	21.9x
Okeanis Eco Tankers Corp.ECO	1,679	10.6x	15.8x
Thermon Group Holdings, Inc.THR	1,676	17.4x	17.6x
SFL Corporation Ltd.SFL	1,457	9.2x	7.4x
Astec Industries, Inc.ASTE	1,265	14.0x	15.3x
Global Industrial CompanyGIC	1,216	11.9x	12.2x
Limbach Holdings, Inc.LMB	936	14.0x	17.3x
Barrett Business Services, Inc.BBSI	764	8.7x	9.8x
Industry Median		11.9x	15.3x
(*) EBITDA		78	79
= Enterprise Value		929	1,206
(-) Net Debt		-35	-35
Equity Value		964	1,241
(/) Outstanding shares		5	5
Fair Price		$195	$251

Selected Fair Value (avg of trailing + forward)

$223.11

-37.5%

Fair Value

$418.84

Market Price

$356.98

Upside / Downside

+17.3%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Preformed Line Products Company (PLPC) has a fair value of $418.84 based on 10 comparable companies in the Electrical Equipment & Parts industry.

EV/Revenue Valuation — Electrical Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Preformed Line Products CompanyPLPC	1,764	2.6x	2.6x
Okeanis Eco Tankers Corp.ECO	1,679	5.5x	8.2x
Thermon Group Holdings, Inc.THR	1,676	3.6x	3.6x
Redwire CorporationRDW	1,637	5.3x	6.1x
SFL Corporation Ltd.SFL	1,457	5.4x	4.3x
Astec Industries, Inc.ASTE	1,265	1.1x	1.2x
Global Industrial CompanyGIC	1,216	0.9x	0.9x
Limbach Holdings, Inc.LMB	936	1.5x	1.9x
Barrett Business Services, Inc.BBSI	764	0.6x	0.6x
Ballard Power Systems Inc.BLDP	761	2.5x	2.3x
Solid Power, Inc.SLDP	537	22.9x	38.3x
Industry Median		3.1x	3.0x
(*) Revenue		669	677
= Enterprise Value		2,053	2,016
(-) Net Debt		-35	-35
Equity Value		2,088	2,052
(/) Outstanding shares		5	5
Fair Price		$423	$415

Selected Fair Value (avg of trailing + forward)

$418.84

+17.3%

PEG Fair Value

Fair Value

$57.12

Market Price

$356.98

Upside / Downside

-84.0%

Verdict

Overvalued

Using the PEG framework with historical EPS growth of 8.0% plus 0.3% dividend yield, the company has a fair value of $57.12 based on TTM EPS (FY2025) of $7.14. The current PEG ratio is 360.16.

PEG Ratio

360.16Expensive

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 40.9 ÷ (-0.2% + 0.3%) = 360.16

PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.

Growth Category: TurnaroundPEG less reliable

PEG is unreliable for companies with declining earnings.

Fair Value Calculation

EPS Growth RateHistorical	-0.2%
Dividend Yield	+0.3%
Adjusted Growth (clamped 8–25%)Clamped	8.0%
Fair P/E	8.0x
TTM EPS (FY2025)	$7.14
Fair Value	$57.12

Growth Analysis

Forward Growth

No analyst estimates available.

Historical GrowthActive

Year	Net Income	EPS	YoY
FY2021	$35.7M	$7.19	—
FY2022	$54.4M	$10.88	+51.3%
FY2023	$63.3M	$12.67	+16.5%
FY2024	$37.1M	$7.50	-40.8%
FY2025	$35.3M	$7.14	-4.8%

4Y Historical EPS CAGR: -0.2%

Earnings Power Value

Fair Value

$110.20

Market Price

$356.98

Upside / Downside

-69.1%

Verdict

Overvalued

Using the Earnings Power Value framework with a WACC of 8.3% and normalized earnings of $42.4M, the company has a fair value of $110.20 per share. The EPV range is $94.48 – $132.83 based on WACC sensitivity (6.8% – 9.8%).

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	42	42	42
(/) WACC	9.8%	8.3%	6.8%
Enterprise Value	431	509	621
(-) Net debt	-35	-35	-35
Equity Value	467	545	656
(/) Outstanding shares	5	5	5
Fair Price	$94.48	$110.20	$132.83

Dividend Discount Model

Fair Value

$12.72

Market Price

$356.98

Upside / Downside

-96.4%

Verdict

Overvalued

Using the Two-Stage Dividend Discount Model with a Cost of Equity of 8.5% and projected dividend growth of 0.1%, the fair value is $12.72 per share. The DDM range is $9.55 – $20.75 based on sensitivity analysis across Cost of Equity and growth rate assumptions.

Dividend Profile

Current DPS

$0.83

Dividend Yield

0.29%

Payout Ratio

11.7%

Dividend Coverage

8.57x

FCF Payout Ratio12.4%

DPS CAGR (4Y)0.1%

Historical Dividends Per Share

Year	DPS	Payout Ratio	YoY Growth
2025	$0.83	11.7%	+1.1%
2024	$0.82	11.0%	+0.3%
2023	$0.82	6.5%	+0.2%
2022	$0.82	7.5%	-1.3%
2021	$0.83	11.6%	—

Dividend Projections (5-Year)

Year	Projected DPS	Growth	Discount Factor	Present Value
2026	$0.83	0.1%	0.9213	$0.77
2027	$0.83	0.1%	0.8489	$0.71
2028	$0.84	0.1%	0.7821	$0.65
2029	$0.84	0.1%	0.7206	$0.60
2030	$0.84	0.1%	0.6639	$0.56
Terminal Value	$0.86 DPS	2.5%		$9.43

PV of Projected Dividends$3.29

PV of Terminal Value$9.43

Fair Value per Share$12.72

Sensitivity Analysis

Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.

Ke \ Growth	0.0%	0.0%	0.1%	1.1%	2.1%
6.5%	$19	$19	$19	$20	$21
7.5%	$15	$15	$15	$16	$17
8.5%	$13	$13	$13	$13	$14
9.5%	$11	$11	$11	$11	$12
10.5%	$10	$10	$10	$10	$10

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Preformed Line Products Company (PLPC) Valuation Summary

Updated Apr 6, 2026 22:28

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$114.56 – $319.13	$164.51	-43.7%
Growth Exit 10Y	$134.53 – $368.95	$192.27	-34.2%
EBITDA Exit 5Y	$176.16 – $371.26	$265.58	-9.1%
EBITDA Exit 10Y	$173.95 – $383.07	$262.98	-10.0%
▸ Trading Multiples
P/E	$101.86 – $231.87	$125.30	-57.1%
EV/EBITDA	$152.35 – $228.70	$223.11	-23.6%
EV/Revenue	$152.46 – $735.92	$418.84	+43.4%
▸ PEG
PEG Fair Value	$57.12 – $57.12	$57.12	-80.4%
▸ Earnings Power Value
Earnings Power Value	$94.48 – $132.83	$110.20	-62.3%
▸ Dividend Discount
Dividend Discount	$9.55 – $20.75	$12.72	-95.6%

Valuation History

DCF Analysis

Fair Value

$164.51

Market Price

$356.98

Upside / Downside

-53.9%

Verdict

Overvalued

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	79	84	91	85	91	93
(−) Net Interest	3	3	4	3	4	4
(+) D&A	30	33	33	34	39	40
EBITDA	112	121	128	123	134	138

(−) Tax	20	21	23	21	23	23
(−) CapEx	36	39	42	40	42	43
(−) ΔWC	43	19	23	-19	18	19
Free Cash Flow (FCFF)	13	42	40	81	51	52

Terminal Value						892
WACC / Discount Rate	8.3%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	12	38	33	61	35	598

Enterprise Value	778
Projection Period	180	23.1%
Terminal Value	598	76.9%

(−) Current Net Debt	(35)

Equity Value	813
(/) Outstanding Shares	5

Fair Price	$164.51

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.3%	$206	$224	$248	$278	$319
7.3%	$171	$183	$197	$215	$237
8.3%	$147	$155	$165	$176	$190
9.3%	$129	$134	$141	$149	$158
10.3%	$115	$119	$124	$129	$136

Current price: $356.98. Green = undervalued, Red = overvalued.

Fair Value

$192.27

Market Price

$356.98

Upside / Downside

-46.1%

Verdict

Overvalued

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	79	84	91	85	91	97	102	107	111	115	118
(−) Net Interest	3	3	4	3	4	4	4	4	4	5	5
(+) D&A	30	33	33	34	39	40	42	43	45	47	48
EBITDA	112	121	128	123	134	140	148	154	160	167	171

(−) Tax	20	21	23	21	23	24	26	27	28	29	30
(−) CapEx	36	39	42	40	42	45	47	49	52	53	55
(−) ΔWC	43	19	23	-19	18	18	17	16	15	13	13
Free Cash Flow (FCFF)	13	42	40	81	51	54	58	62	66	72	73

Terminal Value											1,258
WACC / Discount Rate	8.3%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	12	38	33	61	35	34	34	34	34	33	565

Enterprise Value	915
Projection Period	349	38.2%
Terminal Value	565	61.8%

(−) Current Net Debt	(35)

Equity Value	950
(/) Outstanding Shares	5

Fair Price	$192.27

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.3%	$251	$271	$295	$326	$369
7.3%	$207	$219	$233	$250	$272
8.3%	$176	$183	$192	$203	$216
9.3%	$152	$158	$164	$171	$179
10.3%	$135	$138	$143	$147	$153

Current price: $356.98. Green = undervalued, Red = overvalued.

Fair Value

$265.50

Market Price

$356.98

Upside / Downside

-25.6%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Preformed Line Products Company's cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 14.9% to 6.7% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 66, DPO 39, DIO 121). At a 8.3% WACC with mid-year discounting, the terminal value (86% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 11.9x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $265.58 per share, suggesting PLPC is overvalued by 25.6% at the current price of $356.98.

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

EV/EBITDA Exit Multiple

11.89x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	79	84	91	85	91	93
(−) Net Interest	3	3	4	3	4	4
(+) D&A	30	33	33	34	39	40
EBITDA	112	121	128	123	134	138

(−) Tax	20	21	23	21	23	—
(−) CapEx	36	39	42	40	42	—
(−) ΔWC	43	19	23	-19	18	—
Free Cash Flow (FCF)	13	42	40	81	51	—

Peers' EBITDA Multiple						11.9x
Terminal Value						1,637
WACC / Discount Rate	8.33%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	12	38	33	61	35	1,097

Enterprise Value	1,277
Projection Period	180	14.1%
Terminal Value	1,097	85.9%

(−) Current Net Debt	(35)
Equity Value	1,312
(÷) Outstanding Shares	5M
Fair Price	$265	-25.6%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	7.9x	9.9x	11.9x	13.9x	15.9x
6.3%	$207	$248	$289	$330	$371
7.3%	$199	$238	$277	$316	$355
8.3%	$191	$228	$266	$303	$340
9.3%	$183	$219	$255	$290	$326
10.3%	$176	$210	$244	$278	$312

Current price: $356.98. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$262.91

Market Price

$356.98

Upside / Downside

-26.4%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Preformed Line Products Company's cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 14.9% to 3.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 66, DPO 39, DIO 121). At a 8.3% WACC with mid-year discounting, the terminal value (72% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 11.9x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $262.98 per share, suggesting PLPC is overvalued by 26.3% at the current price of $356.98.

FCFF Present Value Calculation

WACC

8.33%

3% – 20%

EV/EBITDA Exit Multiple

11.89x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	79	84	91	85	91	97	102	107	111	115	118
(−) Net Interest	3	3	4	3	4	4	4	4	4	5	5
(+) D&A	30	33	33	34	39	40	42	43	45	47	48
EBITDA	112	121	128	123	134	140	148	154	160	167	171

(−) Tax	20	21	23	21	23	24	26	27	28	29	—
(−) CapEx	36	39	42	40	42	45	47	49	52	53	—
(−) ΔWC	43	19	23	-19	18	18	17	16	15	13	—
Free Cash Flow (FCF)	13	42	40	81	51	54	58	62	66	72	—

Peers' EBITDA Multiple											11.9x
Terminal Value											2,035
WACC / Discount Rate	8.33%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	12	38	33	61	35	34	34	34	34	33	914

Enterprise Value	1,264
Projection Period	349	27.7%
Terminal Value	914	72.3%

(−) Current Net Debt	(35)
Equity Value	1,299
(÷) Outstanding Shares	5M
Fair Price	$263	-26.4%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	7.9x	9.9x	11.9x	13.9x	15.9x
6.3%	$233	$271	$308	$346	$383
7.3%	$216	$250	$284	$319	$353
8.3%	$201	$232	$263	$294	$325
9.3%	$187	$215	$244	$272	$300
10.3%	$174	$200	$226	$252	$278

Current price: $356.98. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$125.30

Market Price

$356.98

Upside / Downside

-64.9%

Verdict

Overvalued

P/E Valuation — Electrical Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing P/E	Forward P/E
Preformed Line Products CompanyPLPC	1,764	50.0x	50.4x
Okeanis Eco Tankers Corp.ECO	1,679	13.6x	14.3x
Thermon Group Holdings, Inc.THR	1,676	32.5x	28.3x
Astec Industries, Inc.ASTE	1,265	32.9x	—
Global Industrial CompanyGIC	1,216	17.1x	17.5x
Limbach Holdings, Inc.LMB	936	19.9x	31.4x
Barrett Business Services, Inc.BBSI	764	14.3x	16.0x
Industry Median		18.5x	17.5x
(*) Profit after tax		35	35
Equity Value		653	586
(/) Outstanding shares		5	5
Fair Price		$132	$118

Selected Fair Value (avg of trailing + forward)

$125.30

-64.9%

Fair Value

$223.11

Market Price

$356.98

Upside / Downside

-37.5%

Verdict

Overvalued

EV/EBITDA Valuation — Electrical Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
Preformed Line Products CompanyPLPC	1,764	22.1x	21.9x
Okeanis Eco Tankers Corp.ECO	1,679	10.6x	15.8x
Thermon Group Holdings, Inc.THR	1,676	17.4x	17.6x
SFL Corporation Ltd.SFL	1,457	9.2x	7.4x
Astec Industries, Inc.ASTE	1,265	14.0x	15.3x
Global Industrial CompanyGIC	1,216	11.9x	12.2x
Limbach Holdings, Inc.LMB	936	14.0x	17.3x
Barrett Business Services, Inc.BBSI	764	8.7x	9.8x
Industry Median		11.9x	15.3x
(*) EBITDA		78	79
= Enterprise Value		929	1,206
(-) Net Debt		-35	-35
Equity Value		964	1,241
(/) Outstanding shares		5	5
Fair Price		$195	$251

Selected Fair Value (avg of trailing + forward)

$223.11

-37.5%

Fair Value

$418.84

Market Price

$356.98

Upside / Downside

+17.3%

Verdict

Undervalued

EV/Revenue Valuation — Electrical Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Preformed Line Products CompanyPLPC	1,764	2.6x	2.6x
Okeanis Eco Tankers Corp.ECO	1,679	5.5x	8.2x
Thermon Group Holdings, Inc.THR	1,676	3.6x	3.6x
Redwire CorporationRDW	1,637	5.3x	6.1x
SFL Corporation Ltd.SFL	1,457	5.4x	4.3x
Astec Industries, Inc.ASTE	1,265	1.1x	1.2x
Global Industrial CompanyGIC	1,216	0.9x	0.9x
Limbach Holdings, Inc.LMB	936	1.5x	1.9x
Barrett Business Services, Inc.BBSI	764	0.6x	0.6x
Ballard Power Systems Inc.BLDP	761	2.5x	2.3x
Solid Power, Inc.SLDP	537	22.9x	38.3x
Industry Median		3.1x	3.0x
(*) Revenue		669	677
= Enterprise Value		2,053	2,016
(-) Net Debt		-35	-35
Equity Value		2,088	2,052
(/) Outstanding shares		5	5
Fair Price		$423	$415

Selected Fair Value (avg of trailing + forward)

$418.84

+17.3%

PEG Fair Value

Fair Value

$57.12

Market Price

$356.98

Upside / Downside

-84.0%

Verdict

Overvalued

Using the PEG framework with historical EPS growth of 8.0% plus 0.3% dividend yield, the company has a fair value of $57.12 based on TTM EPS (FY2025) of $7.14. The current PEG ratio is 360.16.

PEG Ratio

360.16Expensive

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 40.9 ÷ (-0.2% + 0.3%) = 360.16

PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.

Growth Category: TurnaroundPEG less reliable

PEG is unreliable for companies with declining earnings.

Fair Value Calculation

EPS Growth RateHistorical	-0.2%
Dividend Yield	+0.3%
Adjusted Growth (clamped 8–25%)Clamped	8.0%
Fair P/E	8.0x
TTM EPS (FY2025)	$7.14
Fair Value	$57.12

Growth Analysis

Forward Growth

No analyst estimates available.

Historical GrowthActive

Year	Net Income	EPS	YoY
FY2021	$35.7M	$7.19	—
FY2022	$54.4M	$10.88	+51.3%
FY2023	$63.3M	$12.67	+16.5%
FY2024	$37.1M	$7.50	-40.8%
FY2025	$35.3M	$7.14	-4.8%

4Y Historical EPS CAGR: -0.2%

Earnings Power Value

Fair Value

$110.20

Market Price

$356.98

Upside / Downside

-69.1%

Verdict

Overvalued

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	42	42	42
(/) WACC	9.8%	8.3%	6.8%
Enterprise Value	431	509	621
(-) Net debt	-35	-35	-35
Equity Value	467	545	656
(/) Outstanding shares	5	5	5
Fair Price	$94.48	$110.20	$132.83

Dividend Discount Model

Fair Value

$12.72

Market Price

$356.98

Upside / Downside

-96.4%

Verdict

Overvalued

Dividend Profile

Current DPS

$0.83

Dividend Yield

0.29%

Payout Ratio

11.7%

Dividend Coverage

8.57x

FCF Payout Ratio12.4%

DPS CAGR (4Y)0.1%

Historical Dividends Per Share

Year	DPS	Payout Ratio	YoY Growth
2025	$0.83	11.7%	+1.1%
2024	$0.82	11.0%	+0.3%
2023	$0.82	6.5%	+0.2%
2022	$0.82	7.5%	-1.3%
2021	$0.83	11.6%	—

Dividend Projections (5-Year)

Year	Projected DPS	Growth	Discount Factor	Present Value
2026	$0.83	0.1%	0.9213	$0.77
2027	$0.83	0.1%	0.8489	$0.71
2028	$0.84	0.1%	0.7821	$0.65
2029	$0.84	0.1%	0.7206	$0.60
2030	$0.84	0.1%	0.6639	$0.56
Terminal Value	$0.86 DPS	2.5%		$9.43

PV of Projected Dividends$3.29

PV of Terminal Value$9.43

Fair Value per Share$12.72

Sensitivity Analysis

Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.

Ke \ Growth	0.0%	0.0%	0.1%	1.1%	2.1%
6.5%	$19	$19	$19	$20	$21
7.5%	$15	$15	$15	$16	$17
8.5%	$13	$13	$13	$13	$14
9.5%	$11	$11	$11	$11	$12
10.5%	$10	$10	$10	$10	$10