MAX Automation SE

XTRA:MXHN Stock Report

Market Cap: €225.2m

MAX Automation Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: MXHN (€5.46) is trading below our estimate of fair value (€13.26)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for MXHN. This is calculated by dividing MXHN's market cap by their current revenue.
What is MXHN's PS Ratio?
PS Ratio0.6x
Sales€382.10m
Market Cap€225.19m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for MXHN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.9x
HDD Heidelberger Druckmaschinen
0.1x4.3%€278.8m
SKB Koenig & Bauer
0.1x4.8%€184.4m
VQT va-Q-tec
2.9xn/a€325.7m
GSC1 Gesco
0.3x10.1%€147.3m
MXHN MAX Automation
0.6x5.4%€225.2m

Price-To-Sales vs Peers: MXHN is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (0.9x).

Price to Sales Ratio vs Industry

How does MXHN's PS Ratio compare vs other companies in the DE Machinery Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
HDD Heidelberger Druckmaschinen
0.1x4.3%US$290.30m
SKB Koenig & Bauer
0.1x4.8%US$192.04m
SF3 STS Group
0.08x4.2%US$24.18m
GRF Greiffenberger
0.07xn/aUS$4.30m
MXHN 0.6xIndustry Avg. 0.5xNo. of Companies12PS00.61.21.82.43+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: MXHN is expensive based on its Price-To-Sales Ratio (0.6x) compared to the German Machinery industry average (0.5x).

Price to Sales Ratio vs Fair Ratio

What is MXHN'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.

MXHN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio0.6x

Price-To-Sales vs Fair Ratio: MXHN is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).

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 MXHN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.46
€7.03
+28.8%
5.2%€7.50€6.60n/a3
Nov ’25€5.44
€7.20
+32.4%
8.2%€8.00€6.60n/a3
Oct ’25€5.64
€7.30
+29.4%
9.6%€8.00€6.60n/a2
Sep ’25€5.92
€7.30
+23.3%
9.6%€8.00€6.60n/a2
Aug ’25€6.10
€7.90
+29.5%
10.1%€8.70€7.10n/a2
Jul ’25€6.02
€7.90
+31.2%
10.1%€8.70€7.10n/a2
Jun ’25€6.00
€7.90
+31.7%
10.1%€8.70€7.10n/a2
May ’25€6.16
€7.90
+28.2%
10.1%€8.70€7.10n/a2
Apr ’25€5.58
€7.90
+41.6%
10.1%€8.70€7.10n/a2
Mar ’25€6.00
€7.10
+18.3%
1.4%€7.20€7.00n/a2
Feb ’25€6.34
€7.10
+12.0%
1.4%€7.20€7.00n/a2
Jan ’25€5.78
€7.10
+22.8%
1.4%€7.20€7.00n/a2
Dec ’24€5.74
€7.10
+23.7%
1.4%€7.20€7.00n/a2
Nov ’24€5.84
€7.10
+21.6%
1.4%€7.20€7.00€5.442
Oct ’24€5.76
€7.10
+23.3%
1.4%€7.20€7.00€5.642
Sep ’24€5.68
€7.10
+25.0%
1.4%€7.20€7.00€5.922
Jun ’24€5.68
€6.00
+5.6%
11.7%€6.70€5.30€6.002
May ’24€5.74
€6.00
+4.5%
8.5%€6.50€5.30€6.163
Apr ’24€5.66
€6.00
+6.0%
8.5%€6.50€5.30€5.583
Mar ’24€5.26
€5.77
+9.6%
9.1%€6.50€5.30€6.003
Feb ’24€4.95
€5.77
+16.5%
9.1%€6.50€5.30€6.343
Jan ’24€4.83
€5.77
+19.4%
9.1%€6.50€5.30€5.783
Dec ’23€4.85
€5.77
+18.9%
9.1%€6.50€5.30€5.743
Nov ’23€4.68
€5.60
+19.7%
11.9%€6.50€4.90€5.843

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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