Vertical Aerospace Ltd.

DB:M000 Stock Report

Market Cap: €697.7m

Vertical Aerospace Valuation

Is M000 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-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of M000 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€13.39
Fair Value
25.7% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: M000 (€9.95) is trading below our estimate of fair value (€13.39)

Significantly Below Fair Value: M000 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for M000?

Key metric: As M000 is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for M000. This is calculated by dividing M000's market cap by their current book value.
What is M000's PB Ratio?
PB Ratio-9.7x
Book-UK£55.33m
Market CapUK£582.21m

Price to Book Ratio vs Peers

How does M000's PB Ratio compare to its peers?

The above table shows the PB ratio for M000 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average3.9x
OHB OHB
2.2xn/a€898.2m
FQT Frequentis
2.5x14.9%€366.2m
HAG Hensoldt
5.8x48.6%€4.2b
MTX MTU Aero Engines
5.2x11.5%€17.5b
M000 Vertical Aerospace
n/a-9.9%€719.8m

Price-To-Book vs Peers: M000 has negative equity and a Price-To-Book Ratio (-9.7x) compared to the peer average (3.9x).

Price to Book Ratio vs Industry

How does M000's PB Ratio compare vs other companies in the European Aerospace & Defense Industry?

1 CompanyPrice / BookEstimated GrowthMarket Cap
M000 is unprofitableIndustry Avg. 2.9xNo. of Companies9PB0246810+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: M000 has negative equity and a Price-To-Book Ratio (-9.7x) compared to the European Aerospace & Defense industry average (2.7x).

Price to Book Ratio vs Fair Ratio

What is M000's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

M000 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio-9.7x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate M000's Price-To-Book 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?

The above table shows the analyst M000 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€9.95
€9.88
-0.7%
58.3%€15.34€1.91n/a3
Jan ’26€13.90
€9.88
-28.9%
58.3%€15.34€1.91n/a3
Dec ’25€8.10
€10.20
+25.9%
58.0%€15.25€1.90n/a3
Nov ’25€4.58
€11.20
+144.8%
28.3%€13.44€6.72n/a3
Oct ’25€6.05
€11.20
+85.1%
28.3%€13.44€6.72n/a3
Sep ’25€7.65
€11.41
+49.3%
27.8%€13.66€6.93n/a3
Aug ’25€8.15
€12.34
+51.5%
31.5%€16.19€7.01n/a3
Jul ’25€6.42
€9.98
+55.5%
28.6%€13.80€6.93n/a3
Jun ’25€6.06
€9.98
+64.6%
28.6%€13.80€6.93n/a3
May ’25€6.81
€9.92
+45.6%
28.5%€13.71€6.92n/a3
Apr ’25€10.10
€9.92
-1.8%
28.5%€13.71€6.92n/a3
Mar ’25€6.18
€10.11
+63.5%
28.2%€13.85€6.95n/a3
Feb ’25€6.18
€8.58
+38.8%
13.4%€9.53€6.96n/a3
Jan ’25€5.66
€8.54
+51.0%
14.0%€9.39€6.86€13.903
Dec ’24€5.22
€8.54
+63.7%
14.0%€9.39€6.86€8.103
Nov ’24€7.66
€19.48
+154.3%
32.2%€28.13€13.48€4.583
Oct ’24€10.90
€19.48
+78.7%
32.2%€28.13€13.48€6.053
Sep ’24€11.95
€19.67
+64.6%
31.9%€28.31€13.65€7.653
Aug ’24€16.55
€19.85
+19.9%
30.6%€28.03€13.51€8.153
Jul ’24€17.65
€28.51
+61.6%
28.5%€38.54€18.61€6.423
Jun ’24€18.20
€32.86
+80.5%
15.2%€37.84€27.88€6.062
May ’24€15.65
€41.94
+168.0%
10.8%€46.47€37.41€6.812
Apr ’24€19.10
€41.94
+119.6%
10.8%€46.47€37.41€10.102
Mar ’24€18.00
€43.67
+142.6%
10.4%€48.23€39.11€6.182
Feb ’24€18.40
€43.67
+137.3%
10.4%€48.23€39.11€6.182
Jan ’24€30.80
€43.67
+41.8%
10.4%€48.23€39.11€5.662
Analyst Price Target
Consensus Narrative from 3 Analysts
€10.78
Fair Value
7.7% undervalued intrinsic discount
3
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/08 12:01
End of Day Share Price 2025/01/08 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Vertical Aerospace Ltd. is covered by 3 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David ZazulaBarclays
Austin MoellerCanaccord Genuity
Savanthi Prelis-SythRaymond James & Associates