ITM Power Plc

XTRA:IJ8 Stock Report

Market Cap: €261.9m

ITM Power Valuation

Is IJ8 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • 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 IJ8 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IJ8 (€0.44) is trading above our estimate of fair value (€0.23)

Significantly Below Fair Value: IJ8 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IJ8?

Key metric: As IJ8 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for IJ8. This is calculated by dividing IJ8's market cap by their current revenue.
What is IJ8's PS Ratio?
PS Ratio13.2x
SalesUK£16.51m
Market CapUK£217.69m

Price to Sales Ratio vs Peers

How does IJ8's PS Ratio compare to its peers?

The above table shows the PS ratio for IJ8 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.3x
2GB 2G Energy
1.1x11.9%€386.6m
EKT Energiekontor
2.2x27.9%€563.0m
H2O Enapter
3x42.8%€116.0m
PNE3 PNE
6.8x19.5%€841.1m
IJ8 ITM Power
13.2x39.2%€217.7m

Price-To-Sales vs Peers: IJ8 is expensive based on its Price-To-Sales Ratio (13.2x) compared to the peer average (3.3x).

Price to Sales Ratio vs Industry

How does IJ8's PS Ratio compare vs other companies in the DE Electrical Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
VAR1 Varta
0.1x4.3%US$99.64m
C0M Compleo Charging Solutions
0.1x27.6%US$15.58m
No more companies available in this PS range
IJ8 13.2xIndustry Avg. 1.0xNo. of Companies3PS00.81.62.43.24+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: IJ8 is expensive based on its Price-To-Sales Ratio (13.2x) compared to the European Electrical industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is IJ8'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.

IJ8 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio13.2x
Fair PS Ratio0.02x

Price-To-Sales vs Fair Ratio: IJ8 is expensive based on its Price-To-Sales Ratio (13.2x) compared to the estimated Fair Price-To-Sales Ratio (0x).

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 IJ8 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.44
€0.93
+111.3%
42.0%€2.03€0.48n/a15
Nov ’25€0.49
€0.95
+94.9%
40.9%€2.04€0.48n/a15
Oct ’25€0.59
€0.94
+59.6%
39.7%€2.01€0.53n/a15
Sep ’25€0.60
€0.99
+64.1%
37.5%€2.02€0.53n/a15
Aug ’25€0.63
€1.10
+75.0%
47.5%€2.37€0.54n/a15
Jul ’25€0.61
€1.10
+80.2%
48.1%€2.36€0.54n/a16
Jun ’25€0.75
€1.14
+51.6%
44.6%€2.33€0.54n/a16
May ’25€0.64
€1.14
+77.7%
44.6%€2.34€0.54n/a18
Apr ’25€0.61
€1.12
+83.1%
45.2%€2.34€0.54n/a19
Mar ’25€0.67
€1.12
+66.8%
44.2%€2.34€0.54n/a20
Feb ’25€0.68
€1.17
+74.0%
43.9%€2.35€0.54n/a18
Jan ’25€0.70
€1.27
+82.6%
52.3%€2.92€0.58n/a18
Dec ’24€0.60
€1.32
+120.5%
47.0%€2.87€0.63n/a18
Nov ’24€0.74
€1.44
+93.4%
54.1%€3.56€0.63€0.4919
Oct ’24€0.88
€1.89
+115.3%
76.4%€6.95€0.70€0.5918
Sep ’24€0.96
€1.82
+89.3%
77.5%€7.03€0.70€0.6020
Aug ’24€1.07
€1.83
+70.2%
77.1%€7.00€0.71€0.6320
Jul ’24€0.83
€1.85
+121.7%
76.2%€6.98€0.71€0.6120
Jun ’24€0.81
€1.86
+130.5%
75.5%€6.99€0.71€0.7520
May ’24€0.89
€1.99
+124.8%
70.9%€6.81€0.69€0.6421
Apr ’24€0.97
€2.04
+109.0%
68.5%€6.82€0.80€0.6121
Mar ’24€1.13
€2.04
+81.2%
67.8%€6.77€0.79€0.6721
Feb ’24€1.18
€2.07
+75.6%
68.4%€6.80€0.79€0.6820
Jan ’24€1.06
€2.54
+138.5%
76.6%€7.40€0.81€0.7021
Dec ’23€1.25
€2.54
+103.1%
76.6%€7.40€0.81€0.6021
Nov ’23€1.04
€3.24
+210.1%
68.5%€7.47€0.82€0.7420

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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