Holding Varna AD

BUL:HVAR Stock Report

Market Cap: лв298.4m

Holding Varna AD Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: Insufficient data to calculate HVAR's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate HVAR's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for HVAR. This is calculated by dividing HVAR's market cap by their current revenue.
What is HVAR's PS Ratio?
PS Ratio3.5x
Salesлв86.20m
Market Capлв298.35m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for HVAR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average23.1x
CAPM Capital Management SPV
32xn/aлв147.7m
HSOF Holding Sveta Sofia AD
6.5xn/aлв35.0m
11C Eleven Capital AD
4.5xn/aлв40.0m
RBL Real Bulland AD
49.6xn/aлв10.5m
HVAR Holding Varna AD
3.5xn/aлв298.4m

Price-To-Sales vs Peers: HVAR is good value based on its Price-To-Sales Ratio (3.5x) compared to the peer average (23.1x).

Price to Sales Ratio vs Industry

How does HVAR's PS Ratio compare vs other companies in the BG Capital Markets Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.3.3x3.9%
HVAR Holding Varna AD
 3.5xn/aUS$160.94m
11C Eleven Capital AD
4.5xn/aUS$21.69m
IMP ImPulse I AD
3.8xn/aUS$4.75m
HVAR 3.5xIndustry Avg. 3.3xNo. of Companies5PS020406080100+
5 CompaniesEstimated GrowthMarket Cap
Industry Avg.3.3x18.6%
HVAR Holding Varna AD
 3.5xn/aUS$160.94m
No more companies

Price-To-Sales vs Industry: HVAR is expensive based on its Price-To-Sales Ratio (3.5x) compared to the European Capital Markets industry average (3.3x).

Price to Sales Ratio vs Fair Ratio

What is HVAR'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.

HVAR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.5x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate HVAR's Price-To-Sales 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.

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