Almonty Industries Valuation

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

AII (A$0.9) is trading below our estimate of [[fair value]] (A$5.03)

Is AII 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-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 AII when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AII (A$0.9) is trading below our estimate of fair value (A$5.03)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for AII. This is calculated by dividing AII's market cap by their current revenue.
What is AII's PS Ratio?
PS Ratio	8.2x
Sales	CA$27.98m
Market Cap	CA$230.16m

AII 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	13.1x
Enterprise Value/EBITDA	-61.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for AII 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	10x
29M 29Metals	0.6x	13.5%	AU$259.8m
JMS Jupiter Mines	35.2x	n/a	AU$284.2m
OMH OM Holdings	0.3x	14.5%	AU$259.9m
SYR Syrah Resources	4x	43.1%	AU$238.0m
AII Almonty Industries	8.2x	47.6%	AU$230.2m

Price-To-Sales vs Peers: AII is good value based on its Price-To-Sales Ratio (8.2x) compared to the peer average (10x).

Price to Sales Ratio vs Industry

How does AII's PS Ratio compare vs other companies in the AU Metals and Mining Industry?

124 Companies	Price / Sales	Estimated Growth	Market Cap
BHP BHP Group	2.3x	-3.1%	US$130.75b
FMG Fortescue	2x	-5.6%	US$37.17b
NCM Newcrest Mining	3x	5.2%	US$13.37b
NST Northern Star Resources	4.1x	8.5%	US$13.12b

124 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: AII is good value based on its Price-To-Sales Ratio (8.2x) compared to the Australian Metals and Mining industry average (61.1x).

Price to Sales Ratio vs Fair Ratio

What is AII'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.

AII PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	8.2x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate AII'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.

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