Tan Delta Systems Valuation

Is TB4 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 TB4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate TB4's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate TB4's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TB4?

Key metric: As TB4 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for TB4. This is calculated by dividing TB4's market cap by their current revenue.
What is TB4's PS Ratio?
PS Ratio	15.2x
Sales	UK£1.16m
Market Cap	UK£17.57m

TB4 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	12.1x
Enterprise Value/EBITDA	-7.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does TB4's PS Ratio compare to its peers?

The above table shows the PS ratio for TB4 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	0.6x
DAR DATRON	0.5x	9.6%	€30.1m
SCM SCHUMAG	0.2x	8.1%	€11.2m
SNG Singulus Technologies	0.1x	17.4%	€10.0m
ALXA Alexanderwerk	1.5x	1.5%	€53.3m
TB4 Tan Delta Systems	15.2x	81.7%	€17.6m

Price-To-Sales vs Peers: TB4 is expensive based on its Price-To-Sales Ratio (15.2x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does TB4's PS Ratio compare vs other companies in the DE Machinery Industry?

6 Companies	Price / Sales	Estimated Growth	Market Cap
HDD Heidelberger Druckmaschinen	0.1x	4.2%	US$303.09m
SKB Koenig & Bauer	0.1x	4.8%	US$195.88m
SF3 STS Group	0.08x	4.2%	US$26.62m
SNG Singulus Technologies	0.1x	17.4%	US$10.54m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TB4 is expensive based on its Price-To-Sales Ratio (15.2x) compared to the German Machinery industry average (0.5x).

Price to Sales Ratio vs Fair Ratio

What is TB4'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.

TB4 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	15.2x
Fair PS Ratio	8.7x

Price-To-Sales vs Fair Ratio: TB4 is expensive based on its Price-To-Sales Ratio (15.2x) compared to the estimated Fair Price-To-Sales Ratio (8.7x).

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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