Cybin Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: CYBN (CA$15) is trading below our estimate of fair value (CA$1358.19)

Significantly Below Fair Value: CYBN is trading below fair value by more than 20%.


Key Valuation Metric

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

Key metric: As CYBN 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 CYBN. This is calculated by dividing CYBN's market cap by their current book value.
What is CYBN's PB Ratio?
PB Ratio1.2x
BookCA$255.02m
Market CapCA$299.36m

Price to Book Ratio vs Peers

How does CYBN's PB Ratio compare to its peers?

The above table shows the PB ratio for CYBN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.6x
HITI High Tide
2.2x146.6%CA$326.7m
ACB Aurora Cannabis
0.6x154.3%CA$349.3m
OGI Organigram Holdings
0.8x143.5%CA$237.8m
CPH Cipher Pharmaceuticals
2.6x12.7%CA$364.4m
CYBN Cybin
1.2x48.8%CA$212.8m

Price-To-Book vs Peers: CYBN is good value based on its Price-To-Book Ratio (1.2x) compared to the peer average (1.6x).


Price to Book Ratio vs Industry

How does CYBN's PB Ratio compare vs other companies in the CA Pharmaceuticals Industry?

9 CompaniesPrice / BookEstimated GrowthMarket Cap
BZAM BZAM
0.08xn/aUS$4.88m
AVNT Avant Brands
0.1xn/aUS$4.15m
CPTR Captor Capital
0.07xn/aUS$1.97m
RAMM RAMM Pharma
0.09xn/aUS$1.70m
CYBN 1.2xIndustry Avg. 1.1xNo. of Companies11PB00.61.21.82.43+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: CYBN is expensive based on its Price-To-Book Ratio (1.2x) compared to the Canadian Pharmaceuticals industry average (1.1x).


Price to Book Ratio vs Fair Ratio

What is CYBN'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.

CYBN PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate CYBN'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?

The above table shows the analyst CYBN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$15.00
CA$145.81
+872.0%
57.1%CA$266.90CA$35.12n/a4
Nov ’25CA$13.75
CA$214.50
+1,460.0%
34.4%CA$313.08CA$129.54n/a4
Oct ’25CA$11.80
CA$213.96
+1,713.2%
34.7%CA$313.08CA$129.54n/a4
Sep ’25CA$12.35
CA$220.65
+1,686.9%
30.5%CA$313.08CA$156.29n/a4
Aug ’25CA$15.01
CA$223.51
+1,389.3%
27.2%CA$312.28CA$156.14n/a5
Jul ’25CA$14.06
CA$222.76
+1,484.6%
27.1%CA$312.28CA$156.14n/a5
Jun ’25CA$17.67
CA$231.40
+1,209.8%
21.9%CA$307.15CA$155.99n/a5
May ’25CA$18.05
CA$249.77
+1,284.0%
15.2%CA$307.15CA$204.78n/a4
Apr ’25CA$22.04
CA$249.77
+1,033.5%
15.2%CA$307.15CA$204.78n/a4
Mar ’25CA$17.10
CA$250.23
+1,363.6%
15.2%CA$307.99CA$205.20n/a4
Feb ’25CA$18.24
CA$263.14
+1,342.9%
10.8%CA$307.80CA$228.99n/a4
Jan ’25CA$20.14
CA$264.30
+1,212.5%
10.5%CA$307.80CA$230.85n/a4
Dec ’24CA$22.80
CA$264.30
+1,059.4%
10.5%CA$307.80CA$230.85n/a4
Nov ’24CA$31.16
CA$294.67
+845.8%
47.5%CA$527.78CA$155.27CA$13.754
Oct ’24CA$26.98
CA$283.64
+951.5%
49.0%CA$516.15CA$155.27CA$11.804
Sep ’24CA$15.58
CA$283.38
+1,719.2%
49.2%CA$516.15CA$153.63CA$12.354
Aug ’24CA$15.20
CA$266.34
+1,652.5%
49.2%CA$503.20CA$150.25CA$15.015
Jul ’24CA$19.00
CA$278.32
+1,365.1%
46.5%CA$503.20CA$150.97CA$14.065
Jun ’24CA$13.87
CA$297.05
+2,042.0%
46.8%CA$523.53CA$154.96CA$17.675
May ’24CA$15.96
CA$297.11
+1,761.9%
46.8%CA$523.53CA$155.12CA$18.055
Apr ’24CA$20.52
CA$297.11
+1,348.1%
46.8%CA$523.53CA$155.12CA$22.045
Mar ’24CA$24.32
CA$301.99
+1,141.9%
41.3%CA$509.58CA$155.12CA$17.105
Feb ’24CA$20.90
CA$300.36
+1,337.4%
39.0%CA$520.33CA$155.50CA$18.246
Jan ’24CA$15.77
CA$300.23
+1,804.1%
39.0%CA$520.33CA$155.50CA$20.146
Dec ’23CA$18.24
CA$353.76
+1,839.8%
31.5%CA$507.45CA$202.96CA$22.806
Nov ’23CA$23.56
CA$382.12
+1,522.1%
29.7%CA$489.59CA$198.74CA$31.166

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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