Metals X Valuation

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

MLX (A$0.41) is trading below our estimate of [[fair value]] (A$0.64)

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

Valuation Score

2/6

Valuation Score 2/6

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

Share Price vs Fair Value

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

Below Fair Value: MLX (A$0.41) is trading below our estimate of fair value (A$0.64)

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

Key Valuation Metric

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

Key metric: As MLX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MLX. This is calculated by dividing MLX's market cap by their current earnings.
What is MLX's PE Ratio?
PE Ratio	21.2x
Earnings	AU$17.38m
Market Cap	AU$367.62m

MLX 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	1x
Enterprise Value/EBITDA	2.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does MLX's PE Ratio compare to its peers?

The above table shows the PE ratio for MLX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	10.2x
GNG GR Engineering Services	12.2x	n/a	AU$365.7m
JMS Jupiter Mines	7.1x	n/a	AU$284.2m
DDH DDH1	7.8x	9.6%	AU$331.8m
MAH Macmahon Holdings	13.9x	11.1%	AU$739.0m
MLX Metals X	21.2x	n/a	AU$367.6m

Price-To-Earnings vs Peers: MLX is expensive based on its Price-To-Earnings Ratio (21.2x) compared to the peer average (11x).

Price to Earnings Ratio vs Industry

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

9 Companies	Price / Earnings	Estimated Growth	Market Cap
KCN Kingsgate Consolidated	1.8x	-13.3%	US$232.92m
GRR Grange Resources	2.7x	n/a	US$184.34m
RHI Red Hill Minerals	1.8x	n/a	US$182.60m
PTN Patronus Resources	2.3x	n/a	US$66.00m

9 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MLX is expensive based on its Price-To-Earnings Ratio (21.2x) compared to the Australian Metals and Mining industry average (11.9x).

Price to Earnings Ratio vs Fair Ratio

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

MLX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	21.2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MLX's Price-To-Earnings 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.

Discover undervalued companies

Incitec Pivot

AU$6.0b

Manufactures and distributes industrial explosives, industrial chemicals, and fertilizers in Australia and the United State.

IPL

AU$3.19

1.3%

11.7%

Aurelia Metals

AU$304.5m

Engages in the exploration and production of mineral properties in Australia.

AMI

AU$0.17

66.7%

Nufarm

AU$1.5b

Develops, manufactures, and sells crop protection solutions and seed technologies in Europe, the Middle East, Africa, North America, and the Asia Pacific.

NUF

AU$3.95

-5.0%

-14.9%