EBR Systems, Inc.

ASX:EBR Stock Report

Market Cap: AU$411.7m

EBR Systems Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

AU$5.29
Fair Value
83.2% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: EBR (A$0.92) is trading below our estimate of fair value (A$5.26)

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

Key Valuation Metric

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

Key metric: As EBR barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for EBR. This is calculated by dividing EBR's market cap by their current book value.
What is EBR's PB Ratio?
PB Ratio6.9x
BookUS$38.65m
Market CapUS$272.25m

Price to Book Ratio vs Peers

How does EBR's PB Ratio compare to its peers?

The above table shows the PB ratio for EBR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average9.1x
IMR Imricor Medical Systems
12.8x36.82%AU$442.9m
EPI Epiminder
2xn/aAU$227.5m
AHC Austco Healthcare
2.9x24.00%AU$149.9m
EMV EMVision Medical Devices
18.5x-14.96%AU$171.9m
EBR EBR Systems
7x2.73%AU$411.7m

Price-To-Book vs Peers: EBR is good value based on its Price-To-Book Ratio (7x) compared to the peer average (9.1x).

Price to Book Ratio vs Industry

How does EBR's PB Ratio compare vs other companies in the AU Medical Equipment Industry?

4 CompaniesPrice / BookEstimated GrowthMarket Cap
OSP Osprey Medical
0.7xn/aUS$3.57m
OVN Oventus Medical
0.6xn/aUS$3.31m
UBI Universal Biosensors
0.6xn/aUS$2.73m
VTI Visioneering Technologies
0.5xn/aUS$2.32m
No more companies available in this PB range
EBR 6.9xIndustry Avg. 4.7xNo. of Companies4PB03.67.210.814.418+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: EBR is expensive based on its Price-To-Book Ratio (7x) compared to the Australian Medical Equipment industry average (4.9x).

Price to Book Ratio vs Fair Ratio

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

EBR PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio6.9x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate EBR's Price-To-Book 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?

The above table shows the analyst EBR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$0.89
AU$2.60
+192.34%
6.09%AU$2.86AU$2.45n/a4
Nov ’26AU$1.22
AU$2.49
+103.73%
8.48%AU$2.83AU$2.27n/a4
Oct ’26AU$1.17
AU$2.59
+121.22%
10.70%AU$2.99AU$2.27n/a5
Sep ’26AU$1.23
AU$2.61
+112.84%
10.45%AU$2.97AU$2.27n/a5
Aug ’26AU$1.40
AU$2.60
+85.51%
10.49%AU$2.98AU$2.25n/a5
Jul ’26AU$1.17
AU$2.67
+129.18%
9.89%AU$2.98AU$2.25n/a5
Jun ’26AU$1.11
AU$2.68
+141.48%
9.78%AU$3.00AU$2.26n/a5
May ’26AU$1.18
AU$2.89
+146.12%
11.41%AU$3.51AU$2.55n/a5
Apr ’26AU$1.74
AU$2.81
+61.48%
17.52%AU$3.53AU$2.15n/a4
Mar ’26AU$1.54
AU$1.92
+24.56%
12.43%AU$2.28AU$1.65n/a4
Feb ’26AU$1.65
AU$1.94
+17.42%
11.97%AU$2.26AU$1.72n/a3
Jan ’26AU$1.03
AU$1.84
+79.52%
11.07%AU$2.12AU$1.64n/a3
Dec ’25AU$0.91
AU$1.84
+103.32%
11.07%AU$2.12AU$1.64AU$1.023
Nov ’25AU$1.01
AU$1.84
+82.18%
11.07%AU$2.12AU$1.64AU$1.223
Oct ’25AU$0.91
AU$1.68
+85.00%
14.33%AU$2.02AU$1.50AU$1.173
Sep ’25AU$1.12
AU$1.66
+48.27%
13.03%AU$1.97AU$1.50AU$1.233
Aug ’25AU$1.15
AU$1.45
+26.72%
6.01%AU$1.57AU$1.36AU$1.403
Jul ’25AU$1.04
AU$1.43
+37.81%
7.36%AU$1.56AU$1.31AU$1.173
Jun ’25AU$1.10
AU$1.43
+30.30%
7.36%AU$1.56AU$1.31AU$1.113
May ’25AU$0.90
AU$1.41
+56.62%
4.91%AU$1.48AU$1.31AU$1.183
Apr ’25AU$0.80
AU$1.40
+75.11%
5.82%AU$1.48AU$1.32AU$1.742
Mar ’25AU$0.80
AU$1.40
+75.49%
6.03%AU$1.49AU$1.32AU$1.542
Feb ’25AU$0.69
AU$1.40
+102.84%
6.90%AU$1.50AU$1.30AU$1.652
Jan ’25AU$0.61
AU$1.38
+125.53%
4.99%AU$1.44AU$1.31AU$1.032
Dec ’24AU$0.60
AU$1.38
+129.29%
4.99%AU$1.44AU$1.31AU$0.912
AU$2.6
Fair Value
65.8% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/05 08:23
End of Day Share Price 2025/12/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

EBR Systems, Inc. is covered by 4 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John HesterBell Potter
Martyn JacobsBell Potter
Madeleine WilliamsCanaccord Genuity