FINEOS Corporation Holdings plc

ASX:FCL Stock Report

Market Cap: AU$703.7m

FINEOS Corporation Holdings Valuation

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

Below Fair Value: FCL (A$2.03) is trading below our estimate of fair value (A$3.78)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for FCL. This is calculated by dividing FCL's market cap by their current revenue.
What is FCL's PS Ratio?
PS Ratio3.5x
Sales€122.24m
Market Cap€434.12m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for FCL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.7x
BVS Bravura Solutions
2.7x2.0%AU$672.5m
RUL RPMGlobal Holdings
7x10.4%AU$693.3m
CAT Catapult Group International
5.5x14.4%AU$916.1m
IFM Infomedia
3.6x6.8%AU$505.9m
FCL FINEOS Corporation Holdings
3.5x8.5%AU$703.7m

Price-To-Sales vs Peers: FCL is good value based on its Price-To-Sales Ratio (3.5x) compared to the peer average (4.7x).

Price to Sales Ratio vs Industry

How does FCL's PS Ratio compare vs other companies in the AU Software Industry?

15 CompaniesPrice / SalesEstimated GrowthMarket Cap
ADA Adacel Technologies
0.6x10.4%US$18.61m
MOQ MOQ
0.3xn/aUS$15.57m
DUB Dubber
0.5xn/aUS$11.44m
NOV Novatti Group
0.3x9.4%US$8.72m
FCL 3.5xIndustry Avg. 2.9xNo. of Companies19PS02.85.68.411.214+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: FCL is expensive based on its Price-To-Sales Ratio (3.5x) compared to the Australian Software industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is FCL'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.

FCL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.5x
Fair PS Ratio5.2x

Price-To-Sales vs Fair Ratio: FCL is good value based on its Price-To-Sales Ratio (3.5x) compared to the estimated Fair Price-To-Sales Ratio (5.2x).

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 FCL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$2.03
AU$2.13
+5.1%
22.6%AU$3.10AU$1.65n/a6
Nov ’25AU$1.37
AU$2.10
+54.0%
23.6%AU$3.10AU$1.65n/a6
Oct ’25AU$1.46
AU$2.16
+48.6%
24.2%AU$3.10AU$1.65n/a5
Sep ’25AU$1.30
AU$2.21
+70.2%
21.8%AU$3.10AU$1.70n/a5
Aug ’25AU$1.69
AU$2.36
+39.9%
16.4%AU$3.10AU$1.95n/a5
Jul ’25AU$1.73
AU$2.34
+35.9%
16.8%AU$3.10AU$1.95n/a5
Jun ’25AU$1.60
AU$2.32
+45.6%
15.6%AU$3.10AU$1.95n/a6
May ’25AU$1.80
AU$2.32
+29.0%
15.6%AU$3.10AU$1.95n/a6
Apr ’25AU$1.69
AU$2.32
+37.4%
15.6%AU$3.10AU$1.95n/a6
Mar ’25AU$1.73
AU$2.49
+43.8%
13.2%AU$3.10AU$2.20n/a6
Feb ’25AU$2.01
AU$2.60
+29.1%
10.5%AU$3.10AU$2.20n/a6
Jan ’25AU$1.91
AU$2.60
+35.9%
10.5%AU$3.10AU$2.20n/a6
Dec ’24AU$1.68
AU$2.35
+40.1%
28.0%AU$3.10AU$0.86n/a7
Nov ’24AU$1.65
AU$2.35
+42.3%
28.0%AU$3.10AU$0.86AU$1.377
Oct ’24AU$2.00
AU$2.38
+18.8%
29.2%AU$3.30AU$0.86AU$1.467
Sep ’24AU$2.01
AU$2.44
+21.2%
29.1%AU$3.30AU$0.86AU$1.307
Aug ’24AU$2.33
AU$2.34
+0.4%
34.3%AU$3.30AU$0.86AU$1.698
Jul ’24AU$2.22
AU$2.16
-2.5%
37.8%AU$3.40AU$0.86AU$1.738
Jun ’24AU$1.72
AU$2.15
+25.2%
38.3%AU$3.40AU$0.86AU$1.608
May ’24AU$1.62
AU$2.15
+32.9%
38.3%AU$3.40AU$0.86AU$1.808
Apr ’24AU$1.34
AU$2.01
+49.6%
41.5%AU$3.40AU$0.96AU$1.698
Mar ’24AU$1.29
AU$2.14
+66.2%
37.8%AU$3.40AU$0.96AU$1.738
Feb ’24AU$1.90
AU$2.64
+38.9%
32.0%AU$3.75AU$0.96AU$2.018
Jan ’24AU$1.53
AU$2.55
+67.0%
35.6%AU$3.75AU$0.96AU$1.918
Dec ’23AU$1.65
AU$2.55
+54.8%
35.6%AU$3.75AU$0.96AU$1.688
Nov ’23AU$1.54
AU$2.58
+67.9%
36.9%AU$4.00AU$0.96AU$1.658

Analyst Forecast: Target price is less than 20% higher than the current share price.

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