Whatcom Capital II Valuation

Is WAT.P 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-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

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

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WAT.P?

Key metric: As WAT.P is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for WAT.P. This is calculated by dividing WAT.P's market cap by their current book value.
What is WAT.P's PB Ratio?
PB Ratio	0.7x
Book	CA$698.71k
Market Cap	CA$479.05k

WAT.P 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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does WAT.P's PB Ratio compare to its peers?

The above table shows the PB ratio for WAT.P vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	2x
FFC.P Fife Capital	4.1x	n/a	CA$607.5k
CCIC.P Chicane Capital I	1x	n/a	CA$216.2k
TOTC.P Totec Resources	2.4x	n/a	CA$462.5k
MCT.P M3 Capital	0.6x	n/a	CA$500.0k
WAT.P Whatcom Capital II	0.7x	n/a	CA$479.1k

Price-To-Book vs Peers: WAT.P is good value based on its Price-To-Book Ratio (0.7x) compared to the peer average (2x).

Price to Book Ratio vs Industry

How does WAT.P's PB Ratio compare vs other companies in the CA Capital Markets Industry?

13 Companies	Price / Book	Estimated Growth	Market Cap
PLRB Pluribus Technologies	0.09x	n/a	US$1.02m
CAC.P Cinaport Acquisition III	0.09x	n/a	US$108.72k
AIV.P Apolo IV Acquisition	0.1x	n/a	US$106.57k
HAW.P Haw Capital 2	0.1x	n/a	US$42.81k

13 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: WAT.P is good value based on its Price-To-Book Ratio (0.7x) compared to the Canadian Capital Markets industry average (0.8x).

Price to Book Ratio vs Fair Ratio

What is WAT.P's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

WAT.P PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	0.7x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate WAT.P's Price-To-Book 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.

Discover undervalued companies

Berkshire Hathaway

US$1.0t

Through its subsidiaries, engages in the insurance, freight rail transportation, and utility businesses worldwide.

BRK

US$37.00

3.6%

34.2%

AGF Management

CA$720.5m

AGF Management Limited is one of Canada’s premier investment management companies with offices across Canada and subsidiaries around the world.

AGF.B

CA$11.05

1.6%

52.2%

Marwest Apartment Real Estate Investment Trust

CA$14.4m

Marwest Apartment Real Estate Investment Trust (the "REIT") is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust dated July 2, 2020, which was amended and restated on April 30, 2021.

MAR.UN

CA$0.71

-10.1%