Manazel PJSC Valuation

Is MANAZEL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MANAZEL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MANAZEL (AED0.32) is trading below our estimate of fair value (AED0.43)

Significantly Below Fair Value: MANAZEL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MANAZEL?

Key metric: As MANAZEL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MANAZEL. This is calculated by dividing MANAZEL's market cap by their current revenue.
What is MANAZEL's PS Ratio?
PS Ratio	2.4x
Sales	د.إ346.88m
Market Cap	د.إ837.20m

MANAZEL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	6.4x
Enterprise Value/EBITDA	-16.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does MANAZEL's PS Ratio compare to its peers?

The above table shows the PS ratio for MANAZEL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	15.6x
ESHRAQ Eshraq Investments PJSC	54x	n/a	د.إ859.3m
RAKPROP RAK Properties PJSC	2.8x	8.9%	د.إ3.3b
DEYAAR Deyaar Development PJSC	3x	16.0%	د.إ4.0b
EMAARDEV Emaar Development PJSC	2.6x	11.8%	د.إ43.8b
MANAZEL Manazel PJSC	2.4x	n/a	د.إ837.2m

Price-To-Sales vs Peers: MANAZEL is good value based on its Price-To-Sales Ratio (2.4x) compared to the peer average (15.6x).

Price to Sales Ratio vs Industry

How does MANAZEL's PS Ratio compare vs other companies in the Asian Real Estate Industry?

303 Companies	Price / Sales	Estimated Growth	Market Cap

303 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: MANAZEL is expensive based on its Price-To-Sales Ratio (2.4x) compared to the Asian Real Estate industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is MANAZEL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MANAZEL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate MANAZEL's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.