Lemon Sistemi Valuation

Q: What is the Fair Price of IC6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

IC6 (€1.97) is trading below our estimate of [[fair value]] (€13.59)

Is IC6 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 IC6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IC6 (€1.97) is trading below our estimate of fair value (€13.59)

Significantly Below Fair Value: IC6 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IC6?

Key metric: As IC6 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for IC6. This is calculated by dividing IC6's market cap by their current revenue.
What is IC6's PS Ratio?
PS Ratio	1.2x
Sales	€13.78m
Market Cap	€16.28m

IC6 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	1.2x
Enterprise Value/EBITDA	11.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does IC6's PS Ratio compare to its peers?

The above table shows the PS ratio for IC6 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	0.9x
C0M Compleo Charging Solutions	0.1x	27.6%	€14.3m
VBX Voltabox	2.8x	n/a	€20.8m
CY1K SBF	0.6x	9.4%	€24.1m
LMIA LION E-Mobility	0.2x	29.5%	€8.4m
IC6 Lemon Sistemi	1.2x	32.4%	€16.3m

Price-To-Sales vs Peers: IC6 is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (1.2x).

Price to Sales Ratio vs Industry

How does IC6'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$113.75m
C0M Compleo Charging Solutions	0.1x	27.6%	US$15.58m
LMIA LION E-Mobility	0.2x	29.5%	US$8.85m

No more companies available in this PS range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: IC6 is expensive based on its Price-To-Sales Ratio (1.2x) compared to the European Electrical industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is IC6'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.

IC6 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.2x
Fair PS Ratio	0.5x

Price-To-Sales vs Fair Ratio: IC6 is expensive based on its Price-To-Sales Ratio (1.2x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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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