Chorus Limited

ASX:CNU Stock Report

Market Cap: AU$3.5b

Chorus Valuation

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

Below Fair Value: CNU (A$8.14) is trading below our estimate of fair value (A$20.63)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CNU. This is calculated by dividing CNU's market cap by their current revenue.
What is CNU's PS Ratio?
PS Ratio3.9x
SalesNZ$1.01b
Market CapNZ$3.92b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CNU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.5x
ABB Aussie Broadband
1x9.4%AU$1.0b
SLC Superloop
2.7x15.4%AU$1.1b
ST1 Spirit Technology Solutions
0.8xn/aAU$109.6m
TPG TPG Telecom
1.5x2.4%AU$8.2b
CNU Chorus
3.9x4.0%AU$3.9b

Price-To-Sales vs Peers: CNU is expensive based on its Price-To-Sales Ratio (3.9x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

How does CNU's PS Ratio compare vs other companies in the Global Telecom Industry?

32 CompaniesPrice / SalesEstimated GrowthMarket Cap
CNU 3.9xIndustry Avg. 1.4xNo. of Companies45PS01.22.43.64.86+
32 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CNU is expensive based on its Price-To-Sales Ratio (3.9x) compared to the Global Telecom industry average (1.4x).

Price to Sales Ratio vs Fair Ratio

What is CNU'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.

CNU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.9x
Fair PS Ratio1.9x

Price-To-Sales vs Fair Ratio: CNU is expensive based on its Price-To-Sales Ratio (3.9x) compared to the estimated Fair Price-To-Sales Ratio (1.9x).

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 CNU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$8.14
AU$7.63
-6.3%
7.8%AU$8.51AU$6.87n/a5
Nov ’25AU$8.01
AU$7.64
-4.7%
7.9%AU$8.52AU$6.87n/a5
Oct ’25AU$7.92
AU$7.60
-4.1%
5.9%AU$8.09AU$6.96n/a5
Sep ’25AU$7.96
AU$7.16
-10.1%
15.3%AU$8.10AU$4.90n/a6
Aug ’25AU$7.23
AU$6.63
-8.3%
14.0%AU$7.55AU$4.78n/a6
Jul ’25AU$7.10
AU$6.75
-5.0%
13.4%AU$7.65AU$4.89n/a6
Jun ’25AU$6.91
AU$6.75
-2.4%
13.4%AU$7.65AU$4.89n/a6
May ’25AU$6.54
AU$6.75
+3.2%
13.4%AU$7.65AU$4.89n/a6
Apr ’25AU$7.00
AU$6.97
-0.4%
13.4%AU$7.85AU$5.02n/a6
Mar ’25AU$7.47
AU$6.97
-6.7%
13.4%AU$7.85AU$5.02n/a6
Feb ’25AU$7.36
AU$7.13
-3.1%
6.9%AU$7.76AU$6.29n/a5
Jan ’25AU$7.33
AU$7.09
-3.3%
6.9%AU$7.71AU$6.25n/a5
Dec ’24AU$7.15
AU$7.05
-1.4%
6.9%AU$7.67AU$6.23n/a5
Nov ’24AU$6.58
AU$7.34
+11.5%
9.0%AU$8.42AU$6.35AU$8.015
Oct ’24AU$7.07
AU$7.27
+2.8%
9.2%AU$8.26AU$6.23AU$7.925
Sep ’24AU$7.23
AU$7.27
+0.5%
9.2%AU$8.26AU$6.23AU$7.965
Aug ’24AU$8.01
AU$7.08
-11.6%
10.1%AU$7.98AU$6.19AU$7.235
Jul ’24AU$7.75
AU$7.05
-9.1%
10.2%AU$7.98AU$6.19AU$7.105
Jun ’24AU$7.79
AU$7.22
-7.3%
9.2%AU$8.06AU$6.25AU$6.915
May ’24AU$8.06
AU$7.05
-12.6%
8.2%AU$8.02AU$6.23AU$6.545
Apr ’24AU$7.80
AU$6.90
-11.5%
7.9%AU$7.81AU$6.11AU$7.005
Mar ’24AU$7.45
AU$6.90
-7.4%
7.9%AU$7.81AU$6.11AU$7.475
Feb ’24AU$7.72
AU$6.68
-13.5%
5.3%AU$7.13AU$6.16AU$7.365
Jan ’24AU$7.62
AU$6.67
-12.5%
5.3%AU$7.12AU$6.15AU$7.335
Dec ’23AU$7.44
AU$6.67
-10.4%
5.3%AU$7.12AU$6.15AU$7.155
Nov ’23AU$7.34
AU$6.45
-12.1%
5.9%AU$6.92AU$5.91AU$6.585

Analyst Forecast: Target price is lower than the current share price.

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