Bulgarian Stock Exchange AD

BUL:BSE Stock Report

Mkt Cap: лв58.3m

We’ve recently updated our valuation analysis.

Bulgarian Stock Exchange AD Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

BSE 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/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BSE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average23.3x
SCOM Sofia Commerce Pawn Brokerage AD
9.3xn/aлв25.7m
HVAR Holding Varna
66.5xn/aлв278.9m
EAC ELANA Agrocredit AD
15.1xn/aлв37.5m
DUH Doverie United Holding AD
2.3xn/aлв183.2m
BSE Bulgarian Stock Exchange AD
9.1xn/aлв58.3m

Price-To-Earnings vs Peers: BSE is good value based on its Price-To-Earnings Ratio (9.1x) compared to the peer average (23.3x).


Price to Earnings Ratio vs Industry

How does BSE's PE Ratio compare vs other companies in the European Capital Markets Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.7%
n/an/an/a

Price-To-Earnings vs Industry: BSE is good value based on its Price-To-Earnings Ratio (9.1x) compared to the European Capital Markets industry average (12.8x)


Price to Earnings Ratio vs Fair Ratio

What is BSE'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.

BSE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BSE's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

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

Below Fair Value: BSE (BGN9.05) is trading below our estimate of fair value (BGN11.05)

Significantly Below Fair Value: BSE is trading below fair value, but not by a significant amount.


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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