Groupe OKwind Société anonyme Valuation

Q: What is the Fair Price of 4QX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

4QX (€22.8) is trading below our estimate of [[fair value]] (€116.02)

Is 4QX 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 4QX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4QX (€22.8) is trading below our estimate of fair value (€116.02)

Significantly Below Fair Value: 4QX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4QX?

Key metric: As 4QX is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 4QX. This is calculated by dividing 4QX's market cap by their current revenue.
What is 4QX's PS Ratio?
PS Ratio	6.7x
Sales	€31.25m
Market Cap	€209.96m

4QX 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	7.1x
Enterprise Value/EBITDA	112.1x
PEG Ratio	3.4x

Price to Sales Ratio vs Peers

How does 4QX's PS Ratio compare to its peers?

The above table shows the PS ratio for 4QX 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	1.3x
CEA FRIWO	2.3x	n/a	€213.9m
F3C SFC Energy	2.2x	20.0%	€289.3m
SGL SGL Carbon	0.5x	6.9%	€502.5m
VAR1 Varta	0.1x	4.3%	€95.7m
4QX Groupe OKwind Société anonyme	6.7x	46.4%	€210.0m

Price-To-Sales vs Peers: 4QX is expensive based on its Price-To-Sales Ratio (6.7x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does 4QX's PS Ratio compare vs other companies in the DE Electrical Industry?

3 Companies	Price / Sales	Estimated Growth	Market Cap
VAR1 Varta	0.1x	4.3%	US$100.26m
C0M Compleo Charging Solutions	0.1x	27.6%	US$15.58m
LMIA LION E-Mobility	0.2x	29.5%	US$8.81m

No more companies available in this PS range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 4QX is expensive based on its Price-To-Sales Ratio (6.7x) compared to the European Electrical industry average (1.2x).

Price to Sales Ratio vs Fair Ratio

What is 4QX'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.

4QX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	6.7x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 4QX'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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