Borussia Dortmund GmbH Kommanditgesellschaft auf Aktien Valuation

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

BVB (CHF9.3) is trading above our estimate of [[fair value]] (CHF3.84)

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

Below Fair Value: BVB (CHF9.3) is trading above our estimate of fair value (CHF3.84)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for BVB. This is calculated by dividing BVB's market cap by their current revenue.
What is BVB's PS Ratio?
PS Ratio	0.7x
Sales	€549.04m
Market Cap	€358.17m

BVB 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	0.8x
Enterprise Value/EBITDA	4.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for BVB 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	1.4x
HLEE Highlight Event and Entertainment	0.2x	n/a	CHF 77.7m
APGN APG\|SGA	1.8x	1.7%	CHF 576.6m
MCHN MCH Group	0.3x	4.4%	CHF 128.4m
8359 Cashbox Partyworld	3.3x	n/a	NT$12.0b
BVB Borussia Dortmund GmbH Kommanditgesellschaft auf Aktien	0.7x	0.8%	CHF 358.2m

Price-To-Sales vs Peers: BVB is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does BVB's PS Ratio compare vs other companies in the European Entertainment Industry?

35 Companies	Price / Sales	Estimated Growth	Market Cap

35 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: BVB is good value based on its Price-To-Sales Ratio (0.7x) compared to the European Entertainment industry average (1.4x).

Price to Sales Ratio vs Fair Ratio

What is BVB'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.

BVB PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.7x
Fair PS Ratio	1.8x

Price-To-Sales vs Fair Ratio: BVB is good value based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (1.8x).

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

Snap

US$19.5b

Operates as a technology company in North America, Europe, and internationally.

SNAP

US$13.00

RTL Group

€4.7b

An entertainment company, operates television (TV) channels and radio stations, and provides streaming services in Germany, France, the Netherlands, Belgium, the United Kingdom, the United States, and internationally.

RTL

€50.60

0.1%

NetEase

US$66.0b

Engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally.

1100118

US$88.94

28.6%