4Front Ventures Valuation

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

Below Fair Value: FFNT (CA$0.05) is trading above our estimate of fair value (CA$0.02)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for FFNT. This is calculated by dividing FFNT's market cap by their current revenue.
What is FFNT's PS Ratio?
PS Ratio	0.4x
Sales	US$75.61m
Market Cap	US$29.23m

FFNT 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	3.3x
Enterprise Value/EBITDA	-16.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for FFNT 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	2.2x
VEXT Vext Science	1x	34.6%	CA$48.2m
HASH Simply Solventless Concentrates	6.8x	n/a	CA$53.2m
ACRG.A.U Acreage Holdings	0.1x	n/a	US$26.8m
CXXI C21 Investments	1x	n/a	CA$36.6m
FFNT 4Front Ventures	0.4x	n/a	CA$41.2m

Price-To-Sales vs Peers: FFNT is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does FFNT's PS Ratio compare vs other companies in the CA Pharmaceuticals Industry?

24 Companies	Price / Sales	Estimated Growth	Market Cap
AYR.A Ayr Wellness	0.2x	2.6%	US$89.06m
ACRG.A.U Acreage Holdings	0.1x	n/a	US$26.82m
TIUM.U Cansortium	0.2x	n/a	US$24.16m
MRV Nuvo Pharmaceuticals	0.2x	n/a	US$11.21m

24 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: FFNT is good value based on its Price-To-Sales Ratio (0.4x) compared to the Canadian Pharmaceuticals industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is FFNT'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.

FFNT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate FFNT'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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