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Maxar Technologies Valuation

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

MAXR (CA$71.35) is trading above our estimate of [[fair value]] (CA$57.53)

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: MAXR (CA$71.35) is trading above our estimate of fair value (CA$57.53)

Significantly Below Fair Value: MAXR is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for MAXR. This is calculated by dividing MAXR's market cap by their current revenue.
What is MAXR's PS Ratio?
PS Ratio	2.5x
Sales	US$1.62b
Market Cap	US$4.02b

MAXR 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	3.9x
Enterprise Value/EBITDA	25.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for MAXR 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	2.1x
BBD.B Bombardier	0.8x	3.9%	CA$9.6b
CAE CAE	2.4x	6.3%	CA$10.6b
MDA MDA Space	3.6x	25.2%	CA$3.2b
HRX Héroux-Devtek	1.5x	5.8%	CA$1.1b
MAXR Maxar Technologies	2.5x	11.0%	CA$4.0b

Price-To-Sales vs Peers: MAXR is expensive based on its Price-To-Sales Ratio (2.5x) compared to the peer average (1.3x).

Price to Sales Ratio vs Industry

How does MAXR's PS Ratio compare vs other companies in the North American Aerospace & Defense Industry?

8 Companies	Price / Sales	Estimated Growth	Market Cap

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: MAXR is expensive based on its Price-To-Sales Ratio (2.5x) compared to the North American Aerospace & Defense industry average (1.9x)

Price to Sales Ratio vs Fair Ratio

What is MAXR'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.

MAXR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.5x
Fair PS Ratio	2.3x

Price-To-Sales vs Fair Ratio: MAXR is expensive based on its Price-To-Sales Ratio (2.5x) compared to the estimated Fair Price-To-Sales Ratio (2.3x).

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 MAXR forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Nov ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Oct ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Sep ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Aug ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Jul ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Jun ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
May ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Apr ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Mar ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Feb ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Jan ’25	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Dec ’24	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Nov ’24	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Oct ’24	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Sep ’24	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Aug ’24	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Jul ’24	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
Jun ’24	n/a	CA$69.26 0%	9.5%	CA$72.21	CA$54.50	n/a	6
May ’24	CA$71.77	CA$69.07 -3.8%	8.9%	CA$71.58	CA$54.02	n/a	7
Apr ’24	CA$68.92	CA$70.56 +2.4%	8.4%	CA$72.79	CA$54.94	n/a	8
Mar ’24	CA$70.01	CA$70.08 +0.09%	7.9%	CA$72.04	CA$54.37	n/a	9
Feb ’24	CA$68.86	CA$70.08 +1.8%	7.9%	CA$72.04	CA$54.37	n/a	9
Jan ’24	CA$70.00	CA$70.08 +0.1%	7.9%	CA$72.04	CA$54.37	n/a	9
Dec ’23	CA$33.27	CA$45.33 +36.3%	25.8%	CA$63.47	CA$20.25	n/a	14

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