BCAL Diagnostics Valuation

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

Below Fair Value: BDX (A$0.11) is trading below our estimate of fair value (A$0.69)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for BDX. This is calculated by dividing BDX's market cap by their current revenue.
What is BDX's PS Ratio?
PS Ratio	12.7x
Sales	AU$3.10m
Market Cap	AU$37.66m

BDX 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	10.6x
Enterprise Value/EBITDA	-5.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for BDX 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	11.9x
RAD Radiopharm Theranostics	28.8x	50.2%	AU$56.5m
PTX Prescient Therapeutics	8.2x	n/a	AU$31.4m
ACW Actinogen Medical	7.1x	20.0%	AU$73.6m
IMC Immuron	3.5x	59.7%	AU$17.2m
BDX BCAL Diagnostics	12.7x	77.6%	AU$37.7m

Price-To-Sales vs Peers: BDX is expensive based on its Price-To-Sales Ratio (12.7x) compared to the peer average (11.9x).

Price to Sales Ratio vs Industry

How does BDX's PS Ratio compare vs other companies in the AU Biotechs Industry?

8 Companies	Price / Sales	Estimated Growth	Market Cap
ARX Aroa Biosurgery	3.6x	20.1%	US$142.40m
IMC Immuron	3.5x	59.7%	US$11.17m
ATH Alterity Therapeutics	4x	25.0%	US$10.38m
BNO Bionomics	2.4x	-5.3%	US$9.52m

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: BDX is expensive based on its Price-To-Sales Ratio (12.7x) compared to the Australian Biotechs industry average (10x).

Price to Sales Ratio vs Fair Ratio

What is BDX'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.

BDX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	12.7x
Fair PS Ratio	34.8x

Price-To-Sales vs Fair Ratio: BDX is good value based on its Price-To-Sales Ratio (12.7x) compared to the estimated Fair Price-To-Sales Ratio (34.8x).

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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